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Neoclassical Pseudo Theories and Crooked and Bought Economists as Fifth Column of Financial Oligarchy

There is no economics, only political economy, stupid

News Casino Capitalism Recommended Links Bookshelf Neoliberalism as Trotskyism for the rich Number racket Neoliberalism 101: 12 best articles on neoliberalism Economism and abuse of economic theory in American politics
Supply Side or Trickle down economics Invisible Hand Hypothesys Efficient Market Hypothesis Monetarism fiasco Financial Sector Induced Systemic Instability of Economy Hyman Minsky Samuelson's bastard Keynesianism Greenspan as the Chairman of Financial Politburo
In Goldman Sachs we trust: classic example of regulatory capture by financial system hackers GDP as a false measure of a country economic output Mathiness Audacious Oligarchy and "Democracy for Winners" Ayn Rand and her Objectivism Cult Think Tanks Enablers Twelve apostles of deregulation Bill Clinton, the founder of "Vichy left"
Free Market Fundamentalism Friedman --founder of Chicago school of deification of market Lawrence Summers Corruption of Regulators Glass-Steagall repeal Small government smoke screen Rational expectations scam Free Markets Newspeak
The Iron Law of Oligarchy The Deep State Neoliberal Brainwashing -- Journalism in the Service of the Powerful Few Introduction to Lysenkoism Republican Economic Policy Libertarian Philosophy    
John Kenneth Galbraith     History of Casino Capitalism Casino Capitalism Dictionary :-) Elite [Dominance] Theory And the Revolt of the Elite Humor Etc
Is it really necessary for every economist to be brain-dead apologist for the rich and powerful and predatory, in every damn breath?

Bruce Wilder in comments to Clash of Autonomy and Interdependence

Smith briskly takes a sledgehammer to any number of plaster saints cluttering up the edifice of modern economics:

"assumptions that are patently ridiculous: that individuals are rational and utility-maximizing (which has become such a slippery notion as to be meaningless), that buyers and sellers have perfect information, that there are no transaction costs, that capital flows freely"

And then...papers with cooked figures, economists oblivious to speculative factors driving oil prices, travesty versions of Keynes's ideas that airbrush out its most characteristic features in the name of mathematical tractability.

And then...any number of grand-sounding theoretical constructs: the Arrow-Debreu theorem, the Dynamic Stochastic General Equilibrium model, the Black-Scholes option model, Value at Risk, CAPM, the Gaussian copula, that only work under blatantly unrealistic assumptions that go by high falutin' names - equilibrium, ergodicity, and so on.

The outcome of this pseudo-scientific botching is an imposing corpus of pretentious quackery that somehow elevates unregulated "free markets" into the sole mechanism for distribution of the spoils of economic activity. We are supposed to believe that by some alchemical process, maximum indulgence of human greed results in maximum prosperity for all. That's unfair to alchemy: compared with the threadbare scientific underpinnings of this economic dogma, alchemy is a model of rigor.

How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism

How many others are being paid for punditry? Or has the culture of corruption spread so far that the question is, Who isn't?

PAUL KRUGMAN, NYT, December 19, 2005

"MIT and Wharton and University of Chicago created the financial engineering instruments which, like Samson and Delilah, blinded every CEO. They didn't realize the kind of leverage they were doing and they didn't understand when they were really creating a real profit or a fictitious one."

Paul Samuelson


Introduction

When you see this "neoclassical" gallery of expensive intellectual prostitutes (sorry, respectable priests of a dominant religion) that pretend to be professors of economics in various prominent universities, it is difficult not to say "It's political economy stupid". Those lackeys of ruling elite are just handing microphone bought by financial oligarchy.  Here is am Amazon.com review of  ECONned How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism eBook Yves Smith that  states this position well:

kievite:
Neoclassical economics as a universal door opener for financial oligarchy

There are many good reviews of the book published already and I don't want to repeat them. But I think there is one aspect of the book that was not well covered in the published reviews and which I think is tremendously important and makes the book a class of its own: the use of neoclassical economics as a universal door opener for financial oligarchy. I hope that the term "econned" will became a new word in English language.

Neoclassical economics has become the modern religion with its own priests, sacred texts and a scheme of salvation. It was a successful attempt to legitimize the unlimited rule of financial oligarchy by using quasi-mathematical, oversimplified and detached for reality models. The net result is a new brand of theology, which proved to be pretty powerful in influencing people and capturing governments("cognitive regulatory capture"). Like Marxism, neoclassical economics is a triumph of ideology over science. It was much more profitable though: those who were the most successful in driving this Trojan horse into the gates were remunerated on the level of Wall Street traders.

Economics is essentially a political science. And politics is about perception. Neo-classical economics is all about manipulating the perception in such a way as to untie hands of banking elite to plunder the country (and get some cramps from the table for themselves). Yves contributed to our understanding how "These F#@king Guys" as Jon Steward defined them, economics professors from Chicago, Harvard, Columbia, Princeton and some other places warmed by flow of money from banks for specific services provided managed to serve as a fifth column helping Wall Street to plunder the country. The rhetorical question that a special counsel to the U.S. Army, Joseph Welch, asked Senator McCarthy: "Have you no sense of decency?" applies.

The main effect of neoclassical economics is elevating unregulated ( "free" in neoclassic economics speak) markets into the key mechanism for distribution of the results of economic activity with banks as all-powerful middlemen and sedating any opposition with pseudo-mathematical mumbo-jumbo. Complexity was used as a powerful smoke screen to conceal greed and incompetence. As a result financial giants were able to loot almost all sectors of economics with impunity and without any remorse, not unlike the brutal conquerors in Middle Ages.

The key to the success of this nationwide looting is that people should be brainwashed/indoctrinated to believe that by some alchemical process, maximum level of greed results in maximum prosperity for all. Collapse of the USSR helped in this respect driving the message home: look how the alternative ended, when in reality the USSR was a neo-feudal society. But the exquisite irony here is that Bolsheviks-style ideological brainwashing was applied very successfully to the large part of the US population (especially student population) using neo-classical economics instead of Marxism (which by-and-large was also a pseudo-religious economic theory with slightly different priests and the plan of salvation ;-). The application of badly constructed mathematical models proved to be a powerful tool for distorting reality in a certain, desirable for financial elite direction. One of the many definitions of Ponzi Scheme is "transfer liabilities to unwilling others." The use of detached from reality mathematical models fits this definition pretty well.

The key idea here is that neoclassical economists are not and never have been scientists: much like Marxist economists they always were just high priests of a dangerous cult -- neoliberalism -- and they are more then eager to stretch the truth for the benefit of the sect (and indirectly to their own benefit). All-in-all this is not unlike Lysenkoism: state support was and still is here, it is just working more subtly via ostracism, without open repressions. Look at Shiller story on p.9.

I think that one of lasting insights provided by Econned is the demonstration how the US society was taken hostage by the ideological views of the neoclassical economic school that has dominated the field at least for 30 or may be even 50 years. And that this ideological coup d'état was initiated and financed by banking establishment who was a puppeteer behind the curtain. This is not unlike the capture of Russia by Bolsheviks supported by German intelligence services (and Bolshevics rule lasted slightly longer -- 65 years). Bolsheviks were just adherents of similar wrapped in the mantle of economic theory religious cult, abeit more dangerous and destructive for the people of Russia then neoclassical economics is for the people of the USA. Quoting Marx we can say "History repeats itself, first as tragedy, second as farce".

That also means that there is no easy way out of the current situation. Ideologies are sticky and can lead to the collapse of society rather then peaceful evolution.

So it's no surprise that there is a strong evidence that neo-classical economics is not a science, it's a political ideology of financial oligarchy masquerading as science. Or a religious cult, if you wish.

So it's no surprise that there is a strong evidence that neo-classical economics is not a science, it's a political ideology of financial oligarchy masquerading as science. Or a religious cult, if you wish.

The cult which served as a Trojan horse for bankers to grab power and wealth by robbing fellow Americans. In a way this is a classic story of a parasite killing the host. The powers that be in academia put their imprimatur on economic ‘theory,’ select and indoctrinate its high priests to teach it, and with a host of media players grinding out arguments pro and con this and that, provide legitimacy sufficient for cover of bankers objectives. Which control the disposition and annuity streams of pension fund assets and related financial services. In his new documentary Inside Job, filmmaker Charles Ferguson provides strong evidence of a systematic mass corruption of economic profession (Yahoo! Finance):

Ferguson points to 20 years of deregulation, rampant greed (a la Gordon Gekko) and cronyism. This cronyism is in large part due to a revolving door between not only Wall Street and Washington, but also the incestuous relationship between Wall Street, Washington and academia.

The conflicts of interest that arise when academics take on roles outside of education are largely unspoken, but a very big problem. “The academic economics discipline has been very heavily penetrated by the financial services industry,” Ferguson tells Aaron in the accompanying clip. “Many prominent academics now actually make the majority of their money from the financial services industry, not from teaching or research. [This fact] has definitely compromised the research work and the policy advice that we get from academia.”

... ... ...

Feguson is astonished by the lack of regulation demanding financial disclosure of all academics and is now pushing for it. “At a minimum, federal law should require public disclosure of all outside income that is in any way related to professors’ publishing and policy advocacy,” he writes. “It may be desirable to go even further, and to limit the total size of outside income that potentially generates conflicts of interest.”

The dismantling of economic schools that favor financial oligarchy interests over real research (and prosecuting academic criminals -- many prominent professors in Chicago, Harvard, Columbia and other prominent members of neo-classical economic church) require a new funding model. As neoliberalism itself, the neoclassical economy is very sticky. Chances for success of any reform in the current environment are slim to non existent.

Here is one apt quote from Zero Hedge discussion of Gonzalo Lira article On The Identity Of The False Religion Behind The Mask Of Economic Science zero hedge

"They analyze data for Christ sakes"

Just like Mishkin analyzed Iceland for $120k? a huge proportion in US [are] on Fed payroll, or beneficiaries of corporate thinktank cash; they are coverup lipstick and makeup; hacks for hire.

Like truth-trashing mortgage pushers, credit raters, CDO CDS market manipulators and bribe-fueled fraud enablers of all stripes -- they do it for the dough -- and because everybody else is doing it.

It's now a common understanding that "These F#@king Guys" as Jon Steward defined them, professors  of neoclassical economics from Chicago, Harvard and some other places are warmed by flow of money from financial services industries for specific services provided managed to serve as a fifth column helping financial oligarchy to destroy the country. This role of neo-classical economists as the fifth column of financial oligarchy is an interesting research topic. Just don't expect any grants for it ;-).

As Reinhold Niebuhr aptly noted in his classic Moral Man and Immoral Society
Since inequalities of privilege are greater than could possibly be defended rationally, the intelligence of privileged groups is usually applied to the task of inventing specious proofs for the theory that universal values spring from, and that general interests are served by, the special privileges which they hold.

I would like to stress it again: they are not and never have been scientists: they are just high priests of dangerous cult -- neoliberalism -- and they are more then eager to stretch the truth for the sect (and that means their own) benefits. Fifth column of financial oligarchy. All-in-all this is not unlike Lysenkoism: at some point state support became obvious as financial oligarchy gained significant share of government power (as Glass-Steagall repeal signified). It is just more subtle working via ostracism and flow of funding, without open repressions. See also Politicization of science and The Republican War on Science

Like Russia with Bolsheviks, the US society was taken hostage by the ideological views of the Chicago economic school that has dominated the field for approximately 50 years ( as minimum over 30 years). Actually the situation not unlike the situation with Lysenkoism is the USSR. It's pretty notable that the USA suffered 30 years of this farce, actually approximately the same amount of time the USSR scientific community suffered from Lysenkoism (1934-1965)

Rules of disclosure of sources of financing for economic research are non-existent


"Over the past 30 years, the economics profession—in economics departments, and in business, public policy, and law schools—has become so compromised by conflicts of interest that it now functions almost as a support group for financial services and other industries whose profits depend heavily on government policy.

The route to the 2008 financial crisis, and the economic problems that still plague us, runs straight through the economics discipline. And it's due not just to ideology; it's also about straightforward, old-fashioned money."

Peter Dormat noticed amazing similarity between medical researchers taking money from drug companies and economists. In case of medical researchers widespread corruption can at least be partially kept in check by rules of disclosure. Universities are being called out for their failure to disclose to public agencies the other, private grants researchers are pulling in. This is not perfect policing as the universities themselves get a cut of the proceeds, so that the conflict of interest exists but at least this is theirs too.

But there is no corresponding policy for economics. So for them there are not even rules to be broken. And this is not a bug, this is  feature.  In a sense corruption is officially institualized and expected in economics. Being a paid shill is the typical career of many professional economists. Some foundations require an acknowledgment in the published research they support, but that's all about “thank you”, not disclaimer about the level of influence of those who pay for the music exert on the selection of the tune. Any disclosure of other, privately-interested funding sources by economists is strictly voluntary, and in practice seldom occurs. Trade researchers can be funded by foreign governments or business associations and so on and so forth.

In this atmosphere pseudo-theories have currency and are attractive to economists who want to enrich themselves. That situation is rarely reflected in mainstream press. For example, there some superficial critiques of neo-classical economics as a new form of Lysenkoism (it enjoyed the support of the state) but MSM usually frame the meltdown of neo-classical economic theory something like "To all you corrupt jerks out there: shake off the old camouflage as it became too visible and find a new way misleading the masses...". At the same time it's a real shocker, what a bunch of toxic theories and ideologies starting from Reagan have done to the US economy.

That suggests that neo-economics such as Milton Friedman (and lower level patsies like Eugene Fama ) were just paid propagandists of a superficial, uninformed, and simplistic view of the world that was convenient to the ruling elite. While this is somewhat simplistic explanation, it's by-and-large true and that was one of the factors led the USA very close to the cliff... Most of their theories is not only just nonsense for any trained Ph.D level mathematician or computer scientist, they look like nonsense to any person with a college degree, who looks at them with a fresh, unprejudiced mind. There are several economic myths, popularized by well paid propagandists over the last thirty years, that are falling hard in the recent series of financial crises: the efficient market hypothesis, the inherent benefits of globalization from the natural equilibrium of national competitive advantages, and the infallibility of unfettered greed as a ideal method of managing and organizing human social behavior and maximizing national production.

I would suggest that and economic theory has a strong political-economic dimension. The cult of markets, ideological subservience and manipulation, etc. certainly are part of neo-classical economics that was influenced by underling political agenda this pseudo-theory promotes. As pdavidsonutk wrote: July 16, 2009 16:14

Keynes noted that "classical theorists resemble Euclidean geometers in a non Euclidean world who, discovering that in experience straight lines apparently parallel often meet, rebuke the lines for not keeping straight --as the only remedy for the unfortunate collisions. Yet in truth there is no remedy except to throw over the axiom of parallels to work out a non-Euclidean geometry. SOMETHING SIMILAR IS REQUIRED IN ECONOMICS TODAY. " [Emphasis added]

As I pointed out in my 2007 book JOHN MAYNARD KEYNES (Mentioned in this ECONOMIST article as a biography "of the master") Keynes threw over three classical axioms: (1) the neutral money axiom (2) the gross substitution axiom, and (3) the ergodic axiom.

The latter is most important for understanding why modern macroeconomics is dwelling in an Euclidean economics world rather than the non-Euclidean economics Keynes set forth.

The Ergodic axiom asserts that the future is merely the statistical shadow of the past so that if one develops a probability distribution using historical data, the same probability distribution will govern all future events till the end of time!! Thus in this Euclidean economics there is no uncertainty about the future only probabilistic risk that can reduce the future to actuarial certainty! In such a world rational people and firms know (with actuarial certainty) their intertemporal budget constrains and optimize -- so that there can never be an loan defaults, insolvencies, or bankruptcies.

Keynes argued that important economic decisions involved nonergodic processes, so that the future could NOT be forecasted on the basis of past statistical probability results -- and therefore certain human institutions had to be develop0ed as part of the law of contracts to permit people to make crucial decisions regarding a future that they "knew" they could not know and still sleep at night. When the future seems very uncertain, then rational people in a nonergodic world would decide not to make any decisions to commit their real resources -- but instead save via liquid assets so they could make decisions another day when the future seemed to them less uncertain.

All this is developed and the policy implications derived in my JOHN MAYNARD KEYNES (2007) book. Furthermore this nonergodic model is applied to the current financial and economic crisis and its solution in my 2009 book THE KEYNES SOLUTION: THE PATH TO GLOBAL PROSPERITY (Palgrave/Macmillan) where I tell the reader what Keynes would have written regarding today's domestic crisis in each nation and its international aspects.

Paul Davidson ghaliban wrote:

July 16, 2009 15:34

I think you could have written a shorter article to make your point about the dismal state of economics theory and practice, and saved space to think more imaginatively about ways to reform.

A bit like biology, economics must become econology - a study of real economic systems. It must give up its physics-envy. This on its own will lead its practitioners closer to the truth.

Like biological systems, economic systems are complex, and often exhibit emergent properties that cannot be predicted from the analysis of component parts. The best way to deal with this is (as in biology) to start with the basic organizational unit of analysis - the individual, and then study how the individual makes economic decisions in larger and larger groups (family/community), and how groups take economic decisions within larger and larger forms of economic organization. From this, econologists should determine whether there are any enduring patterns in how aggregate economic decisions are taken. If there are no easily discernable patterns, and aggregate decisions cannot be predicted from a knowledge of individual decision-making preferences, then the theory must rely (as it does in biology) on computer simulations with the economy replicated in as much detail as possible to limit the scope for modeling error. This path will illuminate the "physiology" of different economies.

A second area of development must look into "anatomy" - the connections between actors within the financial system, the connections between economic actors within the real economy, and the connections between the real and financial economies. What are the precise links demand and supply links between these groups, and how does money really flow through the economic system? A finer knowledge of economic anatomy will make it easier to produce better computer simulations of the economy, which will make it a bit easier to study economic physiology.

"Markets uber alles" or more correctly "Financial oligarchy uber alles"

In her interview What Exactly Is Neoliberalism  Wendy Brown advanced some Professor Wolin ideas to a new level and provide explanation why "neoclassical crooks" like Professor  Frederic Mishkin (of Financial Stability in Iceland fame) still rule the economics departments of the USA. They are instrumental in giving legitimacy to the neoliberal rule favoured by the financial oligarchy:

"... I treat neoliberalism as a governing rationality through which everything is "economized" and in a very specific way: human beings become market actors and nothing but, every field of activity is seen as a market, and every entity (whether public or private, whether person, business, or state) is governed as a firm. Importantly, this is not simply a matter of extending commodification and monetization everywhere-that's the old Marxist depiction of capital's transformation of everyday life. Neoliberalism construes even non-wealth generating spheres-such as learning, dating, or exercising-in market terms, submits them to market metrics, and governs them with market techniques and practices. Above all, it casts people as human capital who must constantly tend to their own present and future value. ..."

"... The most common criticisms of neoliberalism, regarded solely as economic policy rather than as the broader phenomenon of a governing rationality, are that it generates and legitimates extreme inequalities of wealth and life conditions; that it leads to increasingly precarious and disposable populations; that it produces an unprecedented intimacy between capital (especially finance capital) and states, and thus permits domination of political life by capital; that it generates crass and even unethical commercialization of things rightly protected from markets, for example, babies, human organs, or endangered species or wilderness; that it privatizes public goods and thus eliminates shared and egalitarian access to them; and that it subjects states, societies, and individuals to the volatility and havoc of unregulated financial markets. ..."

"... with the neoliberal revolution that homo politicus is finally vanquished as a fundamental feature of being human and of democracy. Democracy requires that citizens be modestly oriented toward self-rule, not simply value enhancement, and that we understand our freedom as resting in such self-rule, not simply in market conduct. When this dimension of being human is extinguished, it takes with it the necessary energies, practices, and culture of democracy, as well as its very intelligibility. ..."

"... For most Marxists, neoliberalism emerges in the 1970s in response to capitalism's falling rate of profit; the shift of global economic gravity to OPEC, Asia, and other sites outside the West; and the dilution of class power generated by unions, redistributive welfare states, large and lazy corporations, and the expectations generated by educated democracies. From this perspective, neoliberalism is simply capitalism on steroids: a state and IMF-backed consolidation of class power aimed at releasing capital from regulatory and national constraints, and defanging all forms of popular solidarities, especially labor. ..."

"... The grains of truth in this analysis don't get at the fundamental transformation of social, cultural, and individual life brought about by neoliberal reason. They don't get at the ways that public institutions and services have not merely been outsourced but thoroughly recast as private goods for individual investment or consumption. And they don't get at the wholesale remaking of workplaces, schools, social life, and individuals. For that story, one has to track the dissemination of neoliberal economization through neoliberalism as a governing form of reason, not just a power grab by capital. There are many vehicles of this dissemination -- law, culture, and above all, the novel political-administrative form we have come to call governance. It is through governance practices that business models and metrics come to irrigate every crevice of society, circulating from investment banks to schools, from corporations to universities, from public agencies to the individual. It is through the replacement of democratic terms of law, participation, and justice with idioms of benchmarks, objectives, and buy-ins that governance dismantles democratic life while appearing only to instill it with "best practices." ..."

"... Progressives generally disparage Citizens United for having flooded the American electoral process with corporate money on the basis of tortured First Amendment reasoning that treats corporations as persons. However, a careful reading of the majority decision also reveals precisely the thoroughgoing economization of the terms and practices of democracy we have been talking about. In the majority opinion, electoral campaigns are cast as "political marketplaces," just as ideas are cast as freely circulating in a market where the only potential interference arises from restrictions on producers and consumers of ideas-who may speak and who may listen or judge. Thus, Justice Kennedy's insistence on the fundamental neoliberal principle that these marketplaces should be unregulated paves the way for overturning a century of campaign finance law aimed at modestly restricting the power of money in politics. Moreover, in the decision, political speech itself is rendered as a kind of capital right, functioning largely to advance the position of its bearer, whether that bearer is human capital, corporate capital, or finance capital. This understanding of political speech replaces the idea of democratic political speech as a vital (if potentially monopolizable and corruptible) medium for public deliberation and persuasion. ..."

"... My point was that democracy is really reduced to a whisper in the Euro-Atlantic nations today. Even Alan Greenspan says that elections don't much matter much because, "thanks to globalization . . . the world is governed by market forces," not elected representatives. ..."

 


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I find an attempt to elevate academic finance and economics to sciences by using the word "scientism" to be bizarre. Finance models like CAPM, Black-Scholes and VAR all rest on assumptions that are demonstrably false, such as rational investors and continuous markets.

May 11, 2012 at 1-40 pm

[Jul 29, 2021] Neoclassical economics and the current collapse of neoliberalism

Jul 29, 2021 | www.zerohedge.com

Sound of the Suburbs 2 hours ago remove link

Neoclassical economics brought the US economy to its knees in the 1930s.

"Why don't we give it another whirl?" US policymakers

It was asking for trouble.

The economics of globalization has always had an Achilles' heel.

The 1920s roared with debt based consumption and speculation until it all tipped over into the debt deflation of the Great Depression. No one realized the problems that were building up in the economy as they used an economics that doesn't look at debt, neoclassical economics.

Not considering private debt is the Achilles' heel of neoclassical economics.

1929 and 2008 stick out like sore thumbs.

https://www.youtube.com/watch?v=vAStZJCKmbU&list=PLmtuEaMvhDZZQLxg24CAiFgZYldtoCR-R&index=6

At 18 mins.

In the 1930s, the Americans found margin lending and share buybacks had artificially inflated the markets and this had lead to the Wall Street Crash of 1929.

What lifted US stocks to 1929 levels in 1929?

Margin lending and share buybacks.

What lifted US stocks to 1929 levels in 2019?

Margin lending and share buybacks.

A former US congressman has been looking at the data.

https://www.youtube.com/watch?v=7zu3SgXx3q4

US policymakers asked for trouble and they got it.

Did they really have to roll this nonsense out globally?

Can you please keep half-baked ideas like this to yourselves in future?

They have no idea what they are doing.

[Jul 29, 2021] Accept Our Diverse World As It Is - JFK

Neoliberals organically can not accept diversity on state level. Like Trotskyites in the past they want permanent revolution directed on conversion of all nations into neoliberalism and creation of the global neoliberal empire ruled from Washington. Much like communist empire was rules from Moscow.
Jul 29, 2021 | www.zerohedge.com
fosfor 37 14 hours ago remove link

It is not clear why the West is so stubbornly climbing with its perverted liberal values ​​to the East? This applies not only to Russia but also to other Orthodox countries, as well as Hungary and Poland. These are historically established patriarchal countries with a traditional way of life.
Why, with the stubbornness of a ram, do they shake these LGBT flags and impose all sorts of animal perversions?

They already in their home made life impossible for healthy and normal people of traditional views. And now they are climbing into other countries. As a result, normal and healthy people are already thinking about moving to those countries where they will feel good and their children will be morally healthy. After all, there is nothing more expensive than our children.

adr 14 hours ago

Because what you see as perversion is the fantasy of those who wield power.

fosfor 37 14 hours ago

I am very sorry for their subjects and I am worried about the moral health of their children.

AdenJamesSwift 14 hours ago

Because the sons of Zion need to break your notions of 'nationhood' and 'shared culture' down until all you believe yourself to be is an individual, in an ocean full of 'people just like you'.

Individuals, just like wounded, old or juvenile animals in a herd, are easiest caught in isolation from the rest of their kind.

Monos 13 hours ago (Edited)

Kennedy was willing to put our political model on offer to the world, but not to impose it on anyone

Things that JFK did during his political career that contradict and disprove Pat's narrative:

1) Supported US military intervention in Vietnam while still a US Senator.

2) Ordered the Pay of Pigs invasion with the express purpose of overthrowing the Cuban government for the sake of democracy.

3) Instigated the Cuban Missile Crisis by antagonizing Khrushchev at their first international summit.

4) Incited the overthrow and assassination of South Vietnamese president Ngo Dinh Diem, because the latter's policies were at odds with 'US national security interests' (i.e. Diem was open to diplomacy and reconciliation with the North, while JFK was not).

radio man 14 hours ago remove link

Buchanan subscribes to the Warren Commission's conclusion. Now Pat sets out to educate us? Pass the air sickness bag.

mike6972 2 hours ago

A good speech. If Kennedy were President today, the US and Russia would be partners, not enemies.

Posa 1 hour ago

The MIC-Deep State could see where this was going so they gunned down the President on the street in broad daylight--- then brazenly covered it up. Everyone knew what happened but were powerless. The JFK, RFK and MLK assassinations was a lesson every politician of rank in the US learned. Example: Obama, when challenged for suck-up policies told a progressive audience "Look what they did to Martin" (Luther King).

That's the only system the Us ever wanted to export.

Sound of the Suburbs 2 hours ago

Any US president who wants to bring in Government created money ends up with a bullet in the head, i.e. Lincoln and Kennedy.

What a coincidence!

The prophecy of the neoliberalism to come.

" The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt civilization." Otto von Bismark (1815-1898), German Chancellor, after the Lincoln assassination

Why was Lincoln so important?

"The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity." - Abraham Lincoln

Money is the master of mankind and it really shouldn't be as it is just numbers typed in at keyboards, it comes out of nothing.

When we find out how the monetary system works we can all do a lot better, the only limitations should be the resources available.

The monetary system is a man made system, and it's quite a good system when we know how it works.

That is why they don't want you to know how it works.

Sound of the Suburbs 2 hours ago (Edited) remove link

Can we let central bankers know?

Afraid not.

How did Ben Bernanke convince himself debt doesn't matter?

He thinks banks are financial intermediaries.

Ben Bernanke is famous for his study of the Great Depression and here it is discussed in the Wall Street Journal.

https://www.wsj.com/articles/SB113392265577715881

"Theoretically, neither deflation nor inflation ought to affect long-run growth or employment. After a while, people and businesses get used to changing prices. If prices fall, eventually so will wages, and the impact on profits, employment and purchasing power will be neutral. Borrowers suffer during deflation because their debts are fixed in value, but creditors benefit because the dollars they get back will buy more. For the economy as a whole, deflation ought to be a wash."

What has Ben Bernanke got wrong?

He thinks banks are financial intermediaries and there was no way he could understand the debt deflation of the Great Depression.

Debt deflation can't happen if banks are financial intermediaries.

Policymakers can convince themselves "debt doesn't matter", as it doesn't appear to if banks are financial intermediaries, but they aren't.

Ben, this is how banks really work.

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf

Now you can understand the debt deflation of the Great Depression and see why debt does matter.

Forty years of financial blunders, repeated time and time again globally, has allowed heterodox economists to make enormous progress in this area.

Some central bankers do seem to know a bit (not Ben Bernanke) ......

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf

It's the wider implications of this, they haven't grasped.

Financial stability isn't as hard as they make it look.

[Jul 24, 2021] Woke Nasdaq's Boardroom Diversity Push

Neoliberal oligarchy fight against income redistribution by pushing perverted social justice smoke screen and in effect can turn the USA in South Africa. Money quote from comments: "If I read NASDAQ's proposal for Board representation in the Onion, I would have thought that even these jokesters have exceeded the creativity threshold of ridiculousness I thought was possible." and "What about the Mentally Ill? Do they get a seat? How about the Homeless?"
Three words about famele CEO and board room members: Elizabeth Holmes, Theranos. BTW what is unclear in NASDAQ bold critical race theory support is: Can we exchange one black member for two female members? Or not.
Also why stop at the boardrooms. Why not require the same in professional sport teams?
Jul 24, 2021 | www.wsj.com
Nasdaq has, in its own words, embraced "the social justice movement." The actual job of a stock exchange, however, is to ensure that trading is orderly and its listed companies follow standard governance rules. But doing that doesn't earn the applause of the political left. Progressive approval apparently means a lot to Nasdaq, which has officially proposed to its regulator -- the Securities and Exchange Commission, newly chaired by Gary Gensler -- to increase boardroom diversity through a "regulatory approach."

This proposal would require that Nasdaq-listed companies not only disclose the diversity characteristics of their existing boards, but also retain "at least one director who self-identifies as female," and "at least one director who self-identifies as Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, two or more races or ethnicities, or as LGBTQ+."

Noncompliant firms must publicly "explain" -- in writing -- why they don't meet Nasdaq's quotas. Nasdaq has, in its own words, embraced "the social justice movement."

The actual job of a stock exchange, however, is to ensure that trading is orderly and its listed companies follow standard governance rules. But doing that doesn't earn the applause of the political left. Progressive approval apparently means a lot to Nasdaq, which has officially proposed to its regulator -- the Securities and Exchange Commission, newly chaired by Gary Gensler -- to increase boardroom diversity through a "regulatory approach."

[Jul 24, 2021] New variation of the old saying

Apr 07, 2021 | www.zerohedge.com

OldNewB

Give a man a gun and he can rob a bank.

Give a man a bank and he can rob the world.

[Jul 24, 2021] The Fed, BLS and al Capone: the Fed, in sync with the fiction writers at the Bureau of Labor Statistics (BLS), reports consumer inflation as honestly as Al Capone reported taxable income

Jul 24, 2021 | www.zerohedge.com

The Fed, in sync with the fiction writers at the Bureau of Labor Statistics (BLS), reports consumer inflation as honestly as Al Capone reported taxable income.

Vardaman 3 hours ago

"A basket of things no one actually buys, with prices we just pull out of our asses..."

Glock 1 hour ago

Yep, the BLS uses the CPI-W to literally avoid raising SS payments. The real rate of inflation for seniors is close to 10% as the things they spend most of their money on like medical care, medicine, food and utilities have gone through the roof

While the government claims they are entitled to 1.5% or less COLA's out of which comes a bigger deduction every year for Medicare. Scam artists.

[Jul 21, 2021] Why Mastercard is banned in India and how it'll help RuPay by Mimansa Verma

Jul 16, 2021 | qz.com

India's decision to ban Mastercard from issuing new debit and credit cards in the country could be a win for the government's own payment systems -- and that's not all good news.

On July 14, the Reserve Bank of India (RBI) said US-based Mastercard had not complied with data storage rules from 2018 (pdf) that require foreign card networks to store Indian payments data within the country so the regulator can have "unfettered supervisory access." The ban on Mastercard will come into effect on July 22. RBI's move will not impact existing customers of Mastercard.

about:blank

Most banks in India provide four types of debit and credit cards : Visa, Mastercard, Maestro (a part of the Mastercard enterprise), and RuPay. Of these, only RuPay is Indian, and until its launch in 2012, the sector was dominated by foreign players.

With one of these four out of the picture, for now, experts believe, RuPay could be the one player to see exceptional gains. This is particularly because of the Narendra Modi government's tough stance against foreign card companies in recent years.

" The dependence on foreign brands will be consciously reduced as the government seems focussed on making homegrown one successful. This probably a nudge for the banks to seriously consider the homegrown names," said Mumbai-based independent market analyst Ambareesh Baliga.

Mastercard, RuPay, and UPI

The ban on Mastercard, the world's second-largest payments processor, comes after India's central bank, in May, barred American Express and Diners Club International from issuing new cards due to similar violations .

[Jul 20, 2021] Why Mastercard is banned in India and how it'll help RuPay by Mimansa Verma

Jul 16, 2021 | qz.com

India's decision to ban Mastercard from issuing new debit and credit cards in the country could be a win for the government's own payment systems -- and that's not all good news.

On July 14, the Reserve Bank of India (RBI) said US-based Mastercard had not complied with data storage rules from 2018 (pdf) that require foreign card networks to store Indian payments data within the country so the regulator can have "unfettered supervisory access." The ban on Mastercard will come into effect on July 22. RBI's move will not impact existing customers of Mastercard.

about:blank

Most banks in India provide four types of debit and credit cards : Visa, Mastercard, Maestro (a part of the Mastercard enterprise), and RuPay. Of these, only RuPay is Indian, and until its launch in 2012, the sector was dominated by foreign players.

With one of these four out of the picture, for now, experts believe, RuPay could be the one player to see exceptional gains. This is particularly because of the Narendra Modi government's tough stance against foreign card companies in recent years.

" The dependence on foreign brands will be consciously reduced as the government seems focussed on making homegrown one successful. This probably a nudge for the banks to seriously consider the homegrown names," said Mumbai-based independent market analyst Ambareesh Baliga.

Mastercard, RuPay, and UPI

The ban on Mastercard, the world's second-largest payments processor, comes after India's central bank, in May, barred American Express and Diners Club International from issuing new cards due to similar violations .

[Jul 19, 2021] What was not mentioned

Jul 19, 2021 | www.zerohedge.com

Filosofur 7 hours ago

I find it very odd that ZH not even mentioning the 1000 point drop in dow today...wtf??

sbin 7 hours ago

1000 points is a good start.

Pareto 7 hours ago

its only 2%

[Jul 09, 2021] Could Pfizer and Moderna Be in Trouble After the Latest COVID Vaccine Findings

So Motley Fool analysts advocate profiteering... Nice. there is some dark neoliberal humor in stating that the elimation of booster shots is bad..
Jul 09, 2021 | www.msn.com

Keith Speights: Some findings were recently published in Nature magazine that indicate that the Pfizer-BioNTech and the Moderna vaccines may provide protection for years.

Many investors are and were hoping for annual recurring revenue from these companies' vaccines. Brian, how troublesome is this latest data for the prospects for Pfizer, BioNTech, and Moderna?

Brian Orelli: There's a bit of an extrapolation going on here. The researchers looked at memory B cells, which tend to provide more long-term protection than, let's say, antibodies. They looked at those in the lymph nodes and found the cells were there as long as 15 weeks.

Typically, they'd mostly be gone by four to six weeks. So that's the basis of this claim that it could offer protection for years. If true, that will be a big blow obviously to vaccine makers, at least for Moderna and BioNTech.

Pfizer would be fine because it's so diversified. It's really hard to make an argument for the valuations of Moderna and BioNTech right now if these vaccines are one and done over a couple of years. They really need to have ongoing sales until they can get growth from other drugs in their pipelines.

Speights: Brian, when I first saw the story, I went to check out to see how the stocks were performing, and Moderna is up, BioNTech was barely changed, Pfizer barely changed. It seems to me that investors really aren't making much of this news. Do you think that's the right take at this point?

Orelli: I think it's still too early to be able to conclude that it's definitely going to work for years. The other issue is that we're looking at, will those B cells actually protect against the variants?

If they don't protect against the variants, then it doesn't really matter if you have B cells in your lymph nodes. If they're not going to protect against the variants then we're going to have to get a booster shot anyway.

Speights: Right. Obviously, if these vaccines provide immunity for multiple years, these companies aren't going to make nearly as much money as they expect and a lot of investors expect. So this is a big story to watch, but like you said, really, really early right now and too soon to maybe go drawing any conclusions at this point.

[Jul 08, 2021] Who Goldman think it actually is?

Jul 08, 2021 | www.zerohedge.com


3 play_arrow 1


duck_fur 9 hours ago

Note to Goldman: you're a bank. Stick to banky-stuff. Leave the fear **** and lies to the professionals in the .gov and MSM.

p3scobar 7 hours ago

Goldman is the government... sooo.....

espirit 9 hours ago

If Goldman can give medical advice, so can I.

A Lunatic 9 hours ago remove link

Turning off the TV will neutralize the Delta Variant.

rag_house 9 hours ago

Just like 'Climate Change' you know it's contrived when the bankers start doing 'science.'

liberty2day 9 hours ago

when did they not?

rag_house 8 hours ago

Bankers aren't scientists. They simply dream up fake things they want to convince people of and bribe people to try to make it seem real.

Enraged 9 hours ago remove link

Goldman Sachs Charged in Foreign Bribery Case and Agrees to Pay Over $2.9 Billion

The Goldman Sachs Group Inc. and Goldman Sachs (Malaysia) have admitted to conspiring to violate the Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay over $1 billion in bribes to Malaysian and Abu Dhabi officials to obtain lucrative business for Goldman Sachs, including its role in underwriting approximately $6.5 billion in three bond deals for 1Malaysia Development Bhd. (1MDB), for which the bank earned hundreds of millions in fees.

https://www.justice.gov/opa/pr/goldman-sachs-charged-foreign-bribery-case-and-agrees-pay-over-29-billion

[Jul 08, 2021] Nothing to do...

Jul 08, 2021 | www.zerohedge.com


3 play_arrow 1

HillaryOdor 5 hours ago remove link

bond prices have nothing to do with recovery [sic]

stock prices have nothing to do with growth, except growth of the money supply

Kreditanstalt 3 hours ago

"...the price of a beer or a McDonalds in 10-years time will be exactly the same as it is today. (Which it won't.)"

But the type who buy US government bonds don't care about the price of burgers. They only plan to flip the thing back to the next Greater Fool...or THE FED

[Jul 08, 2021] What's wrong with neoclassical economics?

Jul 08, 2021 | www.zerohedge.com

Sound of the Suburbs 2 hours ago remove link

You don't want to do what they did in the 1920s, and allow the banking system and the markets to become closely coupled.

Too late.

Most of today's problems could be seen in the 1920s.

What's wrong with neoclassical economics?

  1. It makes you think you are creating wealth by inflating asset prices
  2. Bank credit flows into inflating asset prices, debt rises faster than GDP and you eventually get a financial crisis.
  3. No one notices the private debt building up in the economy as neoclassical economics doesn't consider debt.

What is the fundamental flaw in the free market theory of neoclassical economics?

The University of Chicago worked that out in the 1930s after last time.

Banks can inflate asset prices with the money they create from bank loans.

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf

Henry Simons and Irving Fisher supported the Chicago Plan to take away the bankers ability to create money.

"Simons envisioned banks that would have a choice of two types of holdings: long-term bonds and cash. Simultaneously, they would hold increased reserves, up to 100%. Simons saw this as beneficial in that its ultimate consequences would be the prevention of "bank-financed inflation of securities and real estate" through the leveraged creation of secondary forms of money."

https://www.newworldencyclopedia.org/entry/Henry_Calvert_Simons

Margin lending had inflated the US stock market to ridiculous levels.

Richard Vague had noticed real estate lending balloon from 5 trillion to 10 trillion from 2001 – 2007 and went back to look at the data before 1929.

Real estate lending was actually the biggest problem lending category leading to 1929.

The IMF re-visited the Chicago plan after 2008.

https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf

Existing financial assets, e.g. real estate, stocks and other financial assets, are traded and bank credit is used to fund the transfers.

The money creation of bank credit inflates the price.

You end up with a ponzi scheme of inflated asset prices that will collapse and feed back into the financial system.

The money creation of unproductive bank lending made the economy "roar", but there was little real wealth creation going on.

They didn't have the GDP measure then, but we can still look at the data.

https://www.youtube.com/watch?v=vAStZJCKmbU&list=PLmtuEaMvhDZZQLxg24CAiFgZYldtoCR-R&index=6

At 18 mins.

1929 and 2008 stick out like sore thumbs.

When you have productive bank lending, debt and GDP rise together like the UK before 1980.

https://www.housepricecrash.co.uk/forum/uploads/monthly_2018_02/Screen-Shot-2017-04-21-at-13_53_09.png.e32e8fee4ffd68b566ed5235dc1266c2.png

We used to be the financial superpower and it looks like we knew what we were doing in the past.

At the end of the 1920s, the US was a ponzi scheme of inflated asset prices.

The use of neoclassical economics and the belief in free markets, made them think that inflated asset prices represented real wealth accumulation.

1929 – Wakey, wakey time

Why did it cause the US financial system to collapse in 1929?

Bankers get to create money out of nothing, through bank loans, and get to charge interest on it.

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf

What could possibly go wrong?

Bankers do need to ensure the money they lend out gets paid back to balance their books.

Banking requires prudent lending.

If someone can't repay a loan, they need to repossess that asset and sell it to recoup that money.

If they use bank loans to inflate asset prices they get into a world of trouble when those asset prices collapse.

As the real estate and stock market collapsed the banks became insolvent as their assets didn't cover their liabilities.

They could no longer repossess and sell those assets to cover the outstanding loans and they do need to get the money they lend out back again to balance their books.

The banks become insolvent and collapsed, along with the US economy.

When banks have been lending to inflate asset prices the financial system is in a precarious state and can easily collapse.

Cont ......

Sound of the Suburbs 2 hours ago

That was the 1920s.

What was the ponzi scheme of inflated asset prices that collapsed in Japan in 1991?

Japanese real estate.

They avoided a Great Depression by saving the banks.

They killed growth for the next 30 years by leaving the debt in place.

Japan could study the Great Depression to avoid this fate.

https://www.youtube.com/watch?v=8YTyJzmiHGk

What was the ponzi scheme of inflated asset prices that collapsed in 2008?

"It's nearly $14 trillion pyramid of super leveraged toxic assets was built on the back of $1.4 trillion of US sub-prime loans, and dispersed throughout the world" All the Presidents Bankers, Nomi Prins.

We avoided a Great Depression by saving the banks.

We left Western economies struggling by leaving the debt in place, just like Japan.

It's not as bad as Japan as we didn't let asset prices crash in the West, but it is this problem has made our economies so sluggish since 2008.

We, in turn, seem to have learnt something from Japan, as they did let asset prices crash.

The banking system and the markets are still closely coupled.

Any significant fall in asset prices will feed back into the banking system.

We are trapped, and the only way to keep things from collapsing is to keep pumping in more and more liquidity.

It's a choice

  1. Let the assets bubbles collapse, and watch this feed back into the financial system.
  2. Keep the whole thing afloat, but make things worse in the long run as the bubbles just get bigger and bigger.

We've gone for option two.

That's why the FED get so jittery when the markets start to fall.

During the coronavirus lockdowns there was no way the markets could be allowed to reflect what was going on in the real economy.

The banking system would go down.

Sound of the Suburbs 1 hour ago remove link

They learnt from the mistakes of the 1920s and put regulations in place to ensure this didn't happen again.

Financial stability arrived in the Keynesian era and was locked into the regulations of the time.

https://www.brettonwoodsproject.org/wp-content/uploads/2009/10/banking-crises.png

"This Time is Different" by Reinhart and Rogoff has a graph showing the same thing (Figure 13.1 - The proportion of countries with banking crises, 1900-2008).

Neoclassical economics came back and so did the financial crises.

The neoliberals removed the regulations that created financial stability in the Keynesian era and put independent central banks in charge of financial stability.

Why does it go so wrong?

Richard Vague had noticed real estate lending balloon from 5 trillion to 10 trillion from 2001 – 2007 and knew there was going to be a financial crisis.

Richard Vague has looked at the data for financial crises going back 200 years and found the cause was nearly always runaway bank lending.

We put central bankers in charge of financial stability, but they use an economics that ignores the main cause of financial crises, private debt.

Most of the problems are coming from private debt.

The technocrats use an economics that ignores private debt.

The poor old technocrats never really stood a chance.

[Jul 03, 2021] Another important aspect of the collapse of neoliberalism -- reaching the natural resources limits, especially fossil energy extraction limits by George Kaplan

Notable quotes:
"... The US seems to be especially vulnerable to issues caused by lack of precarity as it has such a poor welfare system, previously relying on infinite growth to smooth things over or a, now failing, religious faith to keep things in order; prolonged economic and political success that has led to a sense of entitlement and self-belief in the American way, a history of putting personal liberty above all else, which embraces competition rather than co-operation; and a world beating phobia of death well beyond when reproductive age has passed. ..."
"... The gig economy, middle class collapse, MAGA, BLM (and the police actions that prompted its rise), cancel culture, (un)reality TV's attraction, FOMO, the increase in low level strife, self-harming, on-line pornography addiction, the Oxycodone/Fentanyl epidemic etc. are all manifestations and/or causes of that precarity. Civil wars and major revolts (and almost any that succeed in their aims) tend to happen only when there is intra elite infighting rather than uprisings from below. The most likely catalyst for that at the moment is Trump, which may be a good sign given his ineffectualness, ineptitude and general repulsive lack of charisma; anyone even a bit more like a real human being could cause serious ructions. ..."
Jun 26, 2021 | peakoilbarrel.com
Off Topic Finish: Waiting for the Great Leap Forward

I have been reading "˜A More Contested World: Global Trends 2040' by The National Intelligence Council; slowly as there's a lot in it but also a lot missing. No mention of specific resource limits, no discussion of GM just general "˜technology' concerns concentrating on AI and of course, god forbid any mention of overpopulation. It is very US-centric "" in the good scenarios the world gets to a better place only through US leadership "" and humanist focused with no consideration of the rights of the earth in general, only the perpetuation of our civilisation and to that end all future scenarios are some variant of technology led, growth obsessed, centralised BAU (maybe not with full globalism but still based around hegemonic power structures at some level). It's a view from mainstream economists and politicians carrying all the normal drawbacks that those words imply: i.e. bad things happen when the world doesn't do as it's told to do by us, and if you don't agree with us about what constitutes "˜bad' then you're wrong about that too.

I think similar studies from more global or European NGOs and governmental departments (both from individual countries or the EU) tend to be more objective and those from the militaries (from anywhere in the west) tend to be more honestly subjective. See for example: The Adaptation Committee's Independent Assessment of UK Climate Risk , Decoupling debunked "" Evidence and arguments against green growth as a sole strategy for sustainability ; Reinforcing Environmental Dimensions of European Foreign and Security Policy ; Arctic Climate Change Update 2021: Key Trends And Impacts ; Our Future on Earth ; and The State of the Global Climate 2020 or, for military sources: Implications of Climate Change for the U.S. Army ; NATO is responding to new challenges posed by climate change ; Ministry of Defence Climate Change and Sustainability Strategic Approach ; and Armed Forces, Capabilities and Technologies in the 21st Century Environmental Dimensions of Security .

The rising wealth gap and other inequality issues are a common theme in these global risk studies. However, theories in some recent studies have proposed that it is not inequality itself that is the problem so much as a prolonged sense of precarity (a new word to me and, apparently, to MS spellchecker, but it is essentially identical to precariousness) of the non-elites that accompanies it.

This makes sense from an evolutionary standpoint, as parents desire a stable and resource abundant household in which their children can be expected to reach a reproductive age. This might be expected to come more from the female side, as they are tied to their offspring more than males, who are free to spread their sperm and move on. I have read reorts, possibly anecdotal only, that it will invariably be the woman that will be the party insisting on buying the largest house that can be attained, whether affordable or not. I'm all for gender equality and women's rights but some things are innate and equal-rights do not mean equal hormones, ambitions, impulses and behaviors.

From this viewpoint therefore, solving the wealth inequality issue is actually anathema to population reduction. For example the already low birth rate in Italy had a further step down caused by the increased precarity due to the economic impact of Covid-19, the government has responded by offering direct incentives for having children. The apparent short term aims are in direct opposition to the what is best long term, this is called a dilemma rather than a problem.

The US seems to be especially vulnerable to issues caused by lack of precarity as it has such a poor welfare system, previously relying on infinite growth to smooth things over or a, now failing, religious faith to keep things in order; prolonged economic and political success that has led to a sense of entitlement and self-belief in the American way, a history of putting personal liberty above all else, which embraces competition rather than co-operation; and a world beating phobia of death well beyond when reproductive age has passed.

The neologism for the growing proportion of people affected by precarity is the precariat. The always readable Tim Watkins has a new post that touches on some of theses issues, with a particular eye on the possibility (or not) of significant inflationary issues ( The Everything Death Spiral ).

The gig economy, middle class collapse, MAGA, BLM (and the police actions that prompted its rise), cancel culture, (un)reality TV's attraction, FOMO, the increase in low level strife, self-harming, on-line pornography addiction, the Oxycodone/Fentanyl epidemic etc. are all manifestations and/or causes of that precarity. Civil wars and major revolts (and almost any that succeed in their aims) tend to happen only when there is intra elite infighting rather than uprisings from below. The most likely catalyst for that at the moment is Trump, which may be a good sign given his ineffectualness, ineptitude and general repulsive lack of charisma; anyone even a bit more like a real human being could cause serious ructions.

IRON MIKE IGNORED 06/26/2021 at 4:54 pm

Great post George thank you. It is quite evident for the astute observer that western democracy has over the years turned more and more into an amalgam of kleptocracy, oligarchy and plutocracy.

How many countries have colonial Europe and U.S foreign policy destroyed in the name of "democracy" and "freedom" ?
I've lost count.

Plato famously is said to have said:
"If you do not take an interest in the affairs of your government, then you are doomed to live under the rule of fools."

In Platos book the republic, Socrates despises democracy as one of the worst forms of government. His criticism those many years ago still resonates till this day (in my opinion).

WIthout invoking logic, I feel the world is in uncharted waters and heading towards a precipice which no one will see coming.

You have a typo, I believe you mean oxycontin (oxycodone) epidemic. HICKORY IGNORED HOLE IN HEAD IGNORED 06/27/2021 at 1:12 pm

Hicks , not being based in USA ,my view maybe incorrect . The US is undergoing an identity crisis . Where in the world did we have this gender crisis , male "" female heck can't people see between their thighs ? Red-Blue . White Supremacy vs BLM . North vs South . Growing up in the 70's US entrepreneurship was my inspiration . My hero's were Ford, Sloan , Edison etc and what do we have today, Musk ? What changed that a society where work was an ethic has transformed into a system where everyone is looking for an opportunity to suck at the teat of the government . Amazing transformation for someone who has a reference point . Now I am going into the stupid zone . What changed was the net surplus energy available per capita to the US citizen . Once that flipped it was downhill all the way . I reserve the right to be incorrect in my assessment .

06/27/2021 at 10:45 am

Regarding the off-topic finish, I don't think most people realize how fragile is the glue holding the US together.
Fragmentation along tribal lines is the biggest theme in American culture.
If a minority collection of tribes succeeds in the attempts to reverse election results, even more than the Electoral College already does, the country will undergo a major restructuring (polite description) with no guarantees on a recognizable outcome.

[Jul 02, 2021] Number Of US Truck Drivers Sidelined Due To Substance Abuse Violations Has Surpassed 60,000

Jul 02, 2021 | www.zerohedge.com

Lone_Star 7 hours ago

I don't see what's wrong with truck drivers being all hopped up on amphetamines, they were doing it to bomber pilots during WWII and beyond.

rockstone 7 hours ago

The whole idea is to keep a shipping network from resembling a bombing run.

fxrxexexdxoxmx3 PREMIUM 7 hours ago

Comment of the day

ParkAveSlasher 7 hours ago (Edited)

I would think a bombing run would be the most efficient thing a delivery and offload could resemble

[Jun 26, 2021] Groupthink inherently discounts primary evidence in favor of social affirmation

Jun 26, 2021 | www.zerohedge.com

gcjohns1971 2 hours ago

Personalities of the Left are group-thinkers, not critical-thinkers.

Group-thinkers have two giant vulnerabilities: They're easily misled by ANYONE with harisma, and psychopaths actively exploit that weakness. And inasmuch as group-think inherently discounts primary evidence in favor of social affirmation, group-think is ALWAYS wrong.

[Jun 26, 2021] Johnson Johnson Settles New York Opioid Case for $230 Million by Sara Randazzo

Jun 26, 2021 | www.wsj.com

Johnson & Johnson has agreed to pay $230 million to the state of New York to resolve an opioid lawsuit slated to go to trial Tuesday, as negotiations intensify with the company and three drug distributors to clinch a $26 billion settlement of thousands of other lawsuits blaming the pharmaceutical industry for the opioid crisis.

Johnson & Johnson's New York deal removes it from a coming trial on Long Island but not from the rest of the cases it faces nationwide, including a continuing trial in California. The New York settlement includes an additional $33 million in attorney fees and costs and calls for the drugmaker to no longer sell opioids nationwide, something Johnson & Johnson said it already stopped doing.

States have been trying to re-create with the opioid litigation what they accomplished with tobacco companies in the 1990s, when $206 billion in settlements flowed into state coffers. More than 3,000 counties, cities and other local governments have also pursued lawsuits over the opioid crisis, complicating talks that have dragged on since late 2019 and that have been slowed down by the Covid-19 pandemic.

... ... ...

[Jun 26, 2021] Collapse of neoliberalism and the decline of the USA

Jun 23, 2021 | www.zerohedge.com

CheapBastard 15 hours ago (Edited)

USA is declining fast imo.

The USA health care system is failing for many due to a number of reasons including outrageous premiums and piss-poor care with HMOs and basically a corporatized system. People are numbers, not patients anymore.

The roads are crumbling.

Crime in every major city is literally out of control, from LA to NYC, from ****cago to Houston. Homicides and violent assaults (by joggers) out of control.

USPS notified me today that 4 packages I mailed out will be delayed because of both equipment and labor problems.

What next? More blackouts or failed internet? Droughts?

Jim in MN 15 hours ago remove link

Under Obama US life expectancy actually decreased for consecutive years, something that's never supposed to happen in a 'developed economy'. Of course Trump fixed it, and now the globalist scum are fixing us....permanently.

Unless we do something about it.

[Jun 24, 2021] States now have quotas to meet for how many Americans go to jail. Increasing numbers of states have contracted to keep their prisons at 90% to 100% capacity

Jun 24, 2021 | www.zerohedge.com

Authored by John W. Whitehead & Nisha Whitehead via The Rutherford Institute,

"When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."

- Frédéric Bastiat, French economist

If there is an absolute maxim by which the American government seems to operate, it is that the taxpayer always gets ripped off.

... ... ...

In the prisons : States now have quotas to meet for how many Americans go to jail. Increasing numbers of states have contracted to keep their prisons at 90% to 100% capacity . This profit-driven form of mass punishment has, in turn, given rise to a $70 billion private prison industry that relies on the complicity of state governments to keep the money flowing and their privately run prisons full , " regardless of whether crime was rising or falling ." As Mother Jones reports, "private prison companies have supported and helped write laws that drive up prison populations .

Their livelihoods depend on towns, cities, and states sending more people to prison and keeping them there." Private prisons are also doling out harsher punishments for infractions by inmates in order to keep them locked up longer in order to "boost profits" at taxpayer expense .

All the while, prisoners are being forced to provide cheap labor for private corporations . No wonder the United States has the largest prison population in the world .

... ... ...

[Jun 22, 2021] The US was overtaken by ex-Trotskyites in the form of Neocons, eg. Irving Kristol. They redefined the US from a nation-state into an ideological state, as the Soviet Union had been.

Jun 22, 2021 | www.moonofalabama.org

Weaver , Jun 22 2021 19:35 utc | 15

VK,

The US is not capitalist. There are no "capitalist powers." There are only managerial states. Read Orwell who, yes, was a socialist.

The US was overtaken by ex-Trotskyites in the form of Neocons, eg. Irving Kristol. They redefined the US from a nation-state into an ideological state, as the Soviet Union had been. But we do not have any particular ideology here; the ideology is always changing.

The US empire does not serve the interests of the American people, you'll agree. But it's not as simple as "capitalism." These ideological battles are theatre. They are not the real battles. They are pretend religions, like sports teams, which motivate and justify war for two different elites.

Read James Burnham, another ex-Trotskyite, on Machiavellians and, separately, on the managerial state. However, Burnham became something akin to a Neocon; so, certainly, don't come to the same conclusions as he did.

Piotr Berman , Jun 22 2021 20:19 utc | 22

The US is not capitalist. There are no "capitalist powers." There are only managerial states. Read Orwell who, yes, was a socialist.

Posted by: Weaver | Jun 22 2021 19:35 utc | 15

This is a rather strange interpretation. The power of the managers stems fro the power of large active shareholders, while the majority of shares may be passively owned by middle class in the form of retirement savings. As it was explained: "Contrary to popular beliefs, there are no bulls and bears on Wall Street, but sheep and wolves. And the money is not made by the bah bah crowd", followed by the distinction between "smart money" and the rest of investors. The financial games that we discussed in the case of Boeing may seem stupid in terms of "maximizing long term stock value", but excellent for providing gains for active investors who got artificial run-up in stock prices followed by selling to the "bah bah crowd".

[Jun 21, 2021] Do you remember when a trillion was a big number? Well, it still is especially if we are talking about possible stock market losses even with "accommodative" FED

Jun 21, 2021 | www.zerohedge.com

Traders are addicted to trading, much like murderers fixate on murdering. The traders noticed a slight change in the Fed's tone and sold anything tied to inflation. They whacked gold good. Then they went after the other commodities. When they were done there, they went after value stocks, before finishing the week by blasting a bunch of cyclical names.


25 play_arrow
ted41776 5 hours ago

the only kind of ism that has exist is sociopathism

they always end up at the top of any power pyramid and make the rules that apply to all others but not them

same as it always was and same as it always will be

NoDebt 4 hours ago

Traders are addicted to trading, much like murderers fixate on murdering

A line I wish I had come up with.

lambda PREMIUM 4 hours ago

This was already modeled and formalized: The Gambler Fallacy.

[Jun 14, 2021] World War II Was Transitory- - Putting Inflation In Context

Jun 14, 2021 | www.zerohedge.com

Via Global Macro Monitor,

Let us preface our inflation note with one of our favorite quotes:

"World War II was transitory"

– GMM

Inflation has eroded my purchasing power in my transitory life. Bring back the $.35 Big Mac, which was only about 20% of the minimum wage. Now? About 40-50%... Enough to spark a revolution?

[Jun 13, 2021] Dennis Gartman is still considered a commodities expert. He infamously said in 2016 that WTI would never be above $44 again in his lifetime. He is still alive last I knew

There are also Bagdad Bobs from IEA " "World oil supply is expected to grow at a faster rate in 2022, with the US driving gains of 1.6 million bpd from producers outside the OPEC alliance. "
Jun 13, 2021 | peakoilbarrel.com
SHALLOW SAND IGNORED 06/11/2021 at 3:58 pm

Dennis Gartman is still considered a commodities expert.

He infamously said in 2016 that WTI would never be above $44 again in his lifetime. He is still alive last I knew.

[Jun 12, 2021] There s a new LGBTQ-focused ETF

Notable quotes:
"... Just in time for Pride Month, a new exchange traded fund aims to connect with LGBTQ investors. ..."
"... LGBTQ Loyalty Holdings partners with Harris Poll to annually survey 150,000 self-identifying LGBTQ constituents across the U.S. for their views about a company's brand awareness, brand image, brand loyalty and how the firm supports the community. As noted in its prospectus , 25% of the index's weighting is derived from that survey data. ..."
Jun 06, 2021 | www.marketwatch.com

Just in time for Pride Month, a new exchange traded fund aims to connect with LGBTQ investors. Two previous efforts failed to attract enough assets.

The fund, LGBTQ + ESG100 ETF LGBT, , launched in late May, is a passively managed, large-cap index fund that holds the top 100 U.S. companies that most align with the LGBTQ community.

In 2019, two LGBTQ-focused ETFs were delisted: ALPS Workplace Equality Portfolio ETF and InsightShares LGBT Employment Equality ETFs. Like this new fund, both were mostly U.S. large-cap, passive index ETFs comprising companies that received high or perfect marks for workplace equality in the Human Rights Campaign Corporate Equality Index , a benchmark for corporate LGBTQ policies.

The first ETF stuck around for five years, but the second barely made it two years, even though it was launched with much fanfare by UBS. Neither gained many assets.

Bobby Blair, CEO and founder of LGBTQ Loyalty Holdings, which launched the fund with issuer ProcureAM, says community input on holdings makes this fund different.

LGBTQ Loyalty Holdings partners with Harris Poll to annually survey 150,000 self-identifying LGBTQ constituents across the U.S. for their views about a company's brand awareness, brand image, brand loyalty and how the firm supports the community. As noted in its prospectus , 25% of the index's weighting is derived from that survey data.

... the LGBTQ + ESG100 has an annual expense ratio of 0.75%.

[Jun 12, 2021] Watchdog criticised over plans to combat dominance of big banks

Jun 07, 2021 | finance.yahoo.com

Nicholas Megaw in London Sun, June 6, 2021, 8:00 PM

The UK's competition regulator has been accused of "putting foxes in charge of the henhouse" after asking the banking industry's own lobby group to design a supervisory body to combat the dominance of big banks. Dozens of organisations including fintech start-ups, established tech groups like Experian and Equifax, consumer representatives and a cross-party group of MPs have raised concerns over the Competition and Markets Authority's plan to use proposals drawn up by UK Finance as the basis for a consultation on the future of so-called open banking rules. Open banking forces banks to share valuable customer data with other financial services providers, allowing smaller firms to make faster lending decisions or offer new services such as budgeting tools.

[Jun 12, 2021] Putin warns US may regret using dollar as sanctions weapon - Nation - postguam.com

Jun 10, 2021 | www.postguam.com

President Vladimir Putin said Russia doesn't want to stop using the dollar as he accused the U.S. of exploiting the currency's dominance for sanctions and warned the policy may rebound on Washington.

Russia has to adopt other payment methods because the U.S. "uses its national currency for various kinds of sanctions," Putin said late Friday in St. Petersburg at a videoconference with representatives of international media organizations. "We don't do this deliberately, we are forced to do it."

Settlements in national currencies with other countries in areas such as defense sales and reductions in foreign-exchange reserves held in dollars eventually will damage the U.S. as the greenback's dominance declines, Putin said. "Why do U.S. political authorities do this? They're sawing the branch on which they sit," he said.

me title=

Putin spoke a day after Russia announced it will eliminate the dollar from its oil fund to reduce vulnerability to sanctions, a largely symbolic move as the switch in holdings will take place within the central bank's reserves. Russia has tried with limited success to shift away from the dollar for years amid international sanctions over Putin's 2014 annexation of Crimea and support for separatists in eastern Ukraine, as well as for alleged cyber attacks, election meddling and espionage operations.

The Russian leader's comments came ahead of his first summit meeting with U.S. President Joe Biden in Geneva on June 16. While he praised Biden as one of the world's most experienced leaders, Putin said he expects no breakthrough in relations with the U.S. at the talks.

And he offered a warning at Friday's meeting for the U.S., based on what he said was his own experiences "as a former citizen of the former Soviet Union."

"The problem with empires is that they think they can afford small errors and mistakes," which gradually accumulate, Putin said. "There comes a time when they can no longer be dealt with. And the U.S., with a confident step, a confident gait, a firm step, is walking straight along the path of the Soviet Union."

[Jun 12, 2021] America's Covid Groupthink Functioned Like China's Repression by Gerard Baker

Jun 07, 2021 | www.wsj.com

Marching in ideological lockstep is less forgivable in a society where one has a choice in the matter.

...In this country, scientists, bureaucrats, journalists and executives of Big Tech companies suppressed the story not out of fear of imprisonment or death, but of their own volition, out of ideological or even venal motives. You may well ask: Whose culpability is greater?

It's not simply that the lab-leak theory was "debunked," as news organizations repeatedly told us when anyone tried to raise it a year ago. It wasn't even permitted to be considered. Discussion of the topic was deliberately extinguished on tech platforms, in the respectable scientific journals and in newsrooms.

...Thanks to a recent release of emails under the Freedom of Information Act, we now know that some of the scientists dismissing the idea had themselves expressed concerns that the zoonotic explanation they were publicly championing might not be right. We also know that in the case of the Lancet letter , some of the correspondents were involved in similar research and had a strong professional interest in denying the possibility of an engineered virus.

...Last year, many scientists beclowned themselves by bowing to the prevailing political pieties with their absurd assertion that taking part in protests on behalf of Black Lives Matter was literally salubrious, whereas taking part in protests against lockdowns was lethally reckless.

If too many American scientists failed to help us get a proper understanding of the origins of Covid, they seem to have been abetted by like-minded people in the permanent bureaucracy. Emails to and from Anthony Fauci uncovered last week show that while there were some genuinely diligent officials determined to get to the truth, too many in positions of power seemed keen to stamp out a proper investigation.

As Katherine Eban reported in Vanity Fair last week, officials from two separate bureaus in the State Department warned against a proper investigation for fear of opening a "can of worms."

Again we have good grounds to suspect that officials in a bureaucracy that had already undermined Donald Trump's presidency with baseless allegations about Russian collusion seemed intent on suppressing any suggestion, however well-supported it might be, that Trump officials might be right about a critical issue of state.

Yet the largest responsibility for the failure to consider in a timely fashion the lab-leak theory lies with the media.

Journalists were once marked by their curiosity. Now the only thing that's curious about many of them is their lack of curiosity when a story doesn't fit their priors.

...It seems increasingly likely that Chinese officials mishandled research and misrepresented and misinformed the public. But they did so under pain of punishment, even death, in a system designed to suppress that kind of information.

In this country, constitutionally protected, free and independent scientists, bureaucrats, journalists and others did the same. What's their excuse?

[Jun 08, 2021] List of Misleading and Fake Metrics

Notable quotes:
"... Google Scholar does not screen for quality and indexes predatory journals ..."
May 26, 2021 | predatoryjournals.com

Stop Predatory Journals About Contribute Hijacked Journals Metrics Publishers List of Misleading and Fake Metrics

This is a list of possibly misleading metrics.

Metrics are judged to be misleading if they meet the following criteria:

  1. The website for the metric is nontransparent and provides little information about itself such as location, management team and its experience, other company information, and the like
  2. The company charges journals for inclusion in the list.
  3. The values (scores) for most or all of the journals on the list increase each year.
  4. The company uses Google Scholar as its database for calculating metrics (Google Scholar does not screen for quality and indexes predatory journals)
  5. The metric uses the term " impact factor " in its name.
  6. The methodology for calculating the value is contrived, unscientific, or unoriginal.
  7. The company exists solely for the purpose of earning money from questionable journals that use the gold open-access model. The company charges the journals and assigns them a value, and then the journals use the number to help increase article submissions and therefore revenue. Alternatively, the company exists as a front for an existing publisher and assigns values to that publisher's journals.

[Jun 07, 2021] There s a new LGBTQ-focused ETF

Jun 06, 2021 | www.marketwatch.com

Just in time for Pride Month, a new exchange traded fund aims to connect with LGBTQ investors. Two previous efforts failed to attract enough assets.

The fund, LGBTQ + ESG100 ETF LGBT, +0.91% , launched in late May, is a passively managed, large-cap index fund that holds the top 100 U.S. companies that most align with the LGBTQ community.

In 2019, two LGBTQ-focused ETFs were delisted: ALPS Workplace Equality Portfolio ETF and InsightShares LGBT Employment Equality ETFs. Like this new fund, both were mostly U.S. large-cap, passive index ETFs comprising companies that received high or perfect marks for workplace equality in the Human Rights Campaign Corporate Equality Index , a benchmark for corporate LGBTQ policies.

The first ETF stuck around for five years, but the second barely made it two years, even though it was launched with much fanfare by UBS. Neither gained many assets.

Bobby Blair, CEO and founder of LGBTQ Loyalty Holdings, which launched the fund with issuer ProcureAM, says community input on holdings makes this fund different.

LGBTQ Loyalty Holdings partners with Harris Poll to annually survey 150,000 self-identifying LGBTQ constituents across the U.S. for their views about a company's brand awareness, brand image, brand loyalty and how the firm supports the community. As noted in its prospectus , 25% of the index's weighting is derived from that survey data.

... the LGBTQ + ESG100 has an annual expense ratio of 0.75%.

[Jun 07, 2021] Tech giants and tax havens targeted by historic G7 deal by David Milliken and Kate Holton

Jun 05, 2021 | finance.yahoo.com

LONDON (Reuters) -The United States, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens.

Hundreds of billions of dollars could flow into the coffers of governments left cash-strapped by the COVID-19 pandemic after the Group of Seven (G7) advanced economies agreed to back a minimum global corporate tax rate of at least 15%.

Facebook said it expected it would have to pay more tax, in more countries, as a result of the deal, which comes after eight years of talks that gained fresh impetus in recent months after proposals from U.S. President Joe Biden's new administration.

"G7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age," British finance minister Rishi Sunak said after chairing a two-day meeting in London.

The meeting, hosted at an ornate 19th-century mansion near Buckingham Palace in central London, was the first time finance ministers have met face-to-face since the start of the pandemic.

U.S. Treasury Secretary Janet Yellen said the "significant, unprecedented commitment" would end what she called a race to the bottom on global taxation.

German finance minister Olaf Scholz said the deal was "bad news for tax havens around the world".

Yellen also saw the G7 meeting as marking a return to multilateralism under Biden and a contrast to the approach of U.S. President Donald Trump, who alienated many U.S. allies.

"What I've seen during my time at this G7 is deep collaboration and a desire to coordinate and address a much broader range of global problems," she said.

Ministers also agreed to move towards making companies declare their environmental impact in a more standard way so investors can decided more easily whether to fund them, a key goal for Britain.

... ... ...

Key details remain to be negotiated over the coming months. Saturday's agreement says only "the largest and most profitable multinational enterprises" would be affected.

European countries had been concerned that this could exclude Amazon - which has lower profit margins than most tech companies - but Yellen said she expected it would be included.

How tax revenues will be split is not finalised either, and any deal will also need to pass the U.S. Congress.

French Finance Minister Bruno Le Maire said he would push for a higher minimum tax, calling 15% "a starting point".

Some campaign groups also condemned what they saw as a lack of ambition. "They are setting the bar so low that companies can just step over it," Oxfam's head of inequality policy, Max Lawson, said.

But Irish finance minister Paschal Donohoe, whose country is potentially affected because of its 12.5% tax rate, said any global deal also needed to take account of smaller nations.

The G7 includes the United States, Japan, Germany, Britain, France, Italy and Canada.


[Jun 06, 2021] Biden and the waning of the 'neoliberal' era

It is interesting that this was publish in WaPo -- the citadel of neoliberal thinking owned by Bezos.
From comments: "It's about damn time. Neoliberalism has played itself out, dragging the planet and the impoverished with it."
Jun 06, 2021 | www.washingtonpost.com

For much of his political career, President Biden was a custodian of the "neoliberal" order . He was a fixture in a Washington establishment that promoted years of economic globalization and, like political elites in many other countries, embraced the apparent virtues of free trade and fiscal responsibility. Although he often appealed to blue-collar American values, Biden was a standard-bearer for a brand of "third way" centrist politics that scoffed at class wars and allied itself to Wall Street. As vice president, he stood behind a post-financial crisis recovery that critics argue was inadequate and boosted wealthy and corporate interests over those of the majority of Americans.

But in the first few months of his presidency, Biden is cutting a dramatically different figure . After Congress passed his administration's mammoth $1.9 trillion pandemic stimulus, Biden introduced an even more ambitious legislative plan to overhaul the nation's infrastructure, create million of new jobs and better align the economy to reckon with the imperatives of climate change -- all to the tune of perhaps $4 trillion in spending over the next decade .

"It's going to create the strongest, most resilient, innovative economy in the world. It's not a plan that tinkers around the edges," Biden said of his proposed legislation on Wednesday. "It's a once-in-a-generation investment in America unlike anything we've seen or done since we built the interstate highway system."

To be sure, Biden faces an uphill battle in Congress, with Republicans and even moderate Democrats wary of the ballooning U.S. deficit and the possibility of growing inflationary pressures. But the sweep of his ambition is striking and could, argued left-leaning commentator Robert Kuttner , mark a transformation of the Democrats from decades of being "a Wall Street neoliberal party."

"Historians and politicians are already comparing the ambition with [Franklin D.] Roosevelt's New Deal or Lyndon Johnson's Great Society program," Guardian columnist Will Hutton wrote enviously from across the pond. "In British terms, it's as though an incoming Labour government pledged to spend £500bn over the next decade with a focus on left-behind Britain in all its manifestations -- real commitments to leveling up, racial equity, net zero and becoming a scientific superpower."

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A flurry of recent reporting suggests Biden is interested in cloaking himself in the legacy of great Democratic reformers, including that of FDR , no matter the limitations of the analogy . But whatever his own personal views, his moves reflect a new political zeitgeist in the West that was emerging during the chaotic years of the Trump presidency and took concrete shape amid the havoc and ruin of the pandemic.

"Radical reforms -- reversing the prevailing policy direction of the last four decades -- will need to be put on the table," noted a Financial Times editorial last year , which in and of itself was quite a statement given how much the well-heeled readership base of the publication likely benefited from that previous policy direction. "Governments will have to accept a more active role in the economy. They must see public services as investments rather than liabilities, and look for ways to make labour markets less insecure."

To help offset the deep cost of his infrastructure and jobs plans, Biden has proposed significant tax hikes on corporations and the wealthy . Though this will face political resistance from corporate lobbyists, it's an easier pitch now than it would have been when Biden became vice president. The pandemic has illustrated the need for even the most laissez-faire of governments to bolster the social safety net and abandon older fears over deficits and ingrained biases toward austerity.

"Simply put, America's economy over the past four decades has been far crueler and more unequal than either superrich capitalists or affluent suburbanites need it to be," wrote New York magazine's Eric Levitz . "In truth, even a Western European-style welfare state (and the associated tax rates) is not contrary to the enlightened material interests of the upper middle class; only the ultra-wealthy can be confident that they will never have need for social insurance."

This is rhetoric echoed by the International Monetary Fund, an institution long seen as the embodiment of neoliberalism. Ahead of its annual meetings this week, it issued a report calling for advanced economies to use more aggressive taxation to help redress the costs of the pandemic. That includes greater taxes on corporate profits, inheritance, property and other measures that Republicans in Washington have routinely insisted would be damaging for the national interest. Treasury Secretary Janet Yellen is expected to set the tone for the meetings with a speech calling for a global minimum corporate tax rate , which could disincentivize companies relocating offshore.

"Many countries could rely more on property and inheritance taxes," wrote a trio of IMF economists , arguing that narrowing inequality within societies was important for social cohesion. "Countries could also raise tax progressivity as some governments have room to increase top marginal personal income tax rates, whereas others could focus on eliminating loopholes in capital income taxation."

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3R3ZWV0X2VtYmVkX2NsaWNrYWJpbGl0eV8xMjEwMiI6eyJidWNrZXQiOiJjb250cm9sIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1376934569824428036&lang=en&origin=https%3A%2F%2Fwww.washingtonpost.com%2Fworld%2F2021%2F04%2F05%2Fbiden-infrastructure-plan-neoliberalism%2F&sessionId=451322ed080f441d249162be2e5c0b3a54f14be7&siteScreenName=WashingtonPost&theme=light&widgetsVersion=82e1070%3A1619632193066&width=550px

Biden's seeming abandonment of the legacy of neoliberalism may also extend to trade policy. It's unclear to what extent the new administration may actually depart from the more protectionist course set by its nationalist predecessor. When asked during a congressional hearing whether the goal of a trade agreement between two countries should be the elimination of tariffs and trade barriers, Katherine Tai, the Biden-appointed U.S. trade representative, demurred.

"Maybe if you'd asked me this question five or 10 years ago, I would have been inclined to say yes," Tai said . But she said the experience of the last few years, including the emergency of the pandemic and the animus of the Trump administration's trade wars, led her to believe "that our trade policies need to be nuanced, and need to take into account all the lessons that we have learned, many of them very painful, from our most recent history."

"Everybody who was involved in business or government in the 1980s or 1990s has seen some of the promise of globalization come through, but a lot of the harm has been unexpectedly broader, sharper, deeper," Sen. Christopher A. Coons (D-Del.) told the New York Times earlier this year. "[Biden] believes we need to change direction on trade."

For now, Biden stands at the helm of a U.S. economy that is leading the Western world out of the pandemic. "Amid steady progress with coronavirus vaccinations, the U.S. economy is gathering so much steam that its gains will not stay at home," wrote my colleague David Lynch . "Demand for goods and services this year is expected to spill well beyond U.S. borders, making the United States the largest single contributor to global growth for the first time since 2005, according to Oxford Economics."

Thanks in large part to the stimulus bill, the United States will help add almost 1.5 percent to the global economy's growth rate this year, according to the Organization for Economic Cooperation and Development. By the end of next year, global output is projected to be around $3 trillion larger than it would have been absent new U.S. spending.

"The fact that there is a significant stimulus in the U.S. will boost global GDP, will boost exports from the euro area," European Central Bank chief economist Philip Lane told CNBC last week , adding that Biden's new spending "will be a significant engine for the world economy."

Read more:

The pandemic may set women back by a whole generation

Biden's border 'crisis' has little to do with the border

Vaccination rates are rising, but so are covid cases TheTrue2 A popover with more user information 2 months ago I wish we quit blowing our own horn regarding our contribution to Global GDP. The truth is that Japan is also making a big contribution. The European are not far behind. This is a Global effort. To put things into perspective, Global GDP is around 84,000 Billion dollars in 2020. One Trillion dollar is 1000 Billion dollars, so our contribution of 3000 billion dollars to the World Economy is only 3% most of it is not our products and services is money that we are providing for loans through IMF, World Bank and other financial institutions. The reality is that the long-term consequences of the crisis will be severe. The pace of digitalization, automation and robotization is set to accelerate, further depressing labor demand in the medium term. While productivity will experience some growth in economic sectors embracing automation, average productivity growth will likely falter. Declining investments in fixed capital, low average productivity growth and lower labor-force participation rates are expected to weigh on potential output going forward. Global public debt has increased or will increase by 15%. The money numbers are large, but the economic multipliers ratios and benefits to Labor will be less than to Capital. Inequality still needs to be resolve. Is not only about the Benjamins.
A dialog showing a permalink to the comment BillSamuel A popover with more user information 2 months ago Well he's somewhere between neoliberal and progressive. His proposed corporate tax rate is exactly halfway between the pre-Trump rate and the Trump rate. That's hardly progressive.

In international affairs, he remains a classic neo-liberal deeply committed to imperialism and the war system, and backing foreign tyrants. Reply
A dialog showing a permalink to the comment A Real New Deal A popover with more user information 2 months ago From his earliest days in politics as the Attorney General of Delaware, the former Senator For DuPont for almost 40 years, and Vice President for 8 years, Joe Biden has always and forever been a lickspittle, lackey, knave and varlet for what Mr. Tharoor calls the "neo-liberal world order" which actually calls itself the One World/New World Order and which is crumbling rapidly everywhere after decades of pillaging, plundering and polluting the planet by and for the super rich and their trans-national corporations for their own evil profit. pleasure and amusement.

Now the little people are in open revolt worldwide from America to the Middle East to Britain to Italy to Hong Kong to Brazil. The 0.01% and their plutocrats' puppets like Biden are becoming uneasy and some are even running scared.

Joe Biden is trying to cover up all his previous crimes against humanity such as his Senate votes for the Reagan and Bush tax cuts for the rich and big business, NAFTA, the WTO, most favored trade status for China, repeal of Glass-Stegall, the ensuing trillions of dollars in taxpayer bail out money for Wall St., his support for the illegal wars of aggression under false pretenses in Afghanistan and Iraq, etc., etc. and trying to tout himself as some kind of "secular savior" and a suddenly "transformed" Republican Lite into a progressive. Only fools are falling for this mongrel dog trying to change his DNA.

Biden thinks that by throwing trillions of dollars in borrowed, fiat money on corporate welfare and crumbs for the "little people" and proposing to raise taxes on big business and the rich he can "buy' enough American votes to keep Congress in Democratic hands. lol. No Joe the people know what you are and despite this they took you over Chump because of the pandemic and the bad economy. But already after a few weeks in office your "popularity' is waning and your proposals are failing.

Biden will be a one term wonder POTUS and a total failure----if he lives that long. A dialog showing a permalink to the comment natecar A popover with more user information 2 months ago "By the end of next year, global output is projected to be around $3 trillion larger than it would have been absent new U.S. spending."
So we spend 4 Trillion on two stimulus bills and get 3 Trillion in economics benefits. That is exactly in line with economics theory that government spending doesn't really have a multiplier effect. But it sure does have a strong cost for future generations.
2 Reply A dialog showing a permalink to the comment A Real New Deal A popover with more user information 2 months ago Joe Biden was always considered a straw man and a nattering nitwit as a U.S. Senator and Obama's V.P. valet. His destructive actions since becoming POTUS simply further confirm his "peers" low opinion and dismissal of him.

1 Reply A dialog showing a permalink to the comment ChuChuBelo A popover with more user information 2 months ago I'm not convinced that the U.S. itself actually practiced neoliberalism. Huge deficits, government subsidies of business, interest rate manipulation, trade protectionism, regulations that impede the free market... I don't see how we ever really sought these policies. A dialog showing a permalink to the comment skyfall95 A popover with more user information 2 months ago Biden is no FDR. Not even close. FDR's top corporate profit rate was 40%. GOP+Dems later cut it to 35%; Trump cut it to 21% in 2017. FDR's top personal income tax rate began at 63% (1933), rose to 94% (1944). GOP+Dems cut it to 37%. Biden's proposals are nothing like FDR's.

Thank You. Both parties are equally responsible for these odious pro-corporate tax cutting policies, the worst and most harmful occurring in my working lifetime between 1985 to current.
When you elect a bunch of corporate elitists who are more interested in their own wallets and cushy government paid power jobs rather than doing what's best for the social, cultural and economic health of their own taxpayers and voting citizens and allow their multinational corporate business donors to dominate our policy making decisions that favor them, this is what we are left with. Explains the massive hollowing out of our Education systems, health 'care' systems, safety net systems that keeps the same sleazy people hoodwinking the serfs and the fiefs. They enjoy the drama of watching the little people clawing at each others throats while they sit high above the fray. Dystopian isn't a far-off description. Hope they're happy. A popover with more user information 2 months ago Neoliberalism -- a.k.a "Reagan Democrats" have been a bane on America since their inception. I'm glad to see the movement wane. 9 Reply A dialog showing a permalink to the comment Bandos WB A popover with more user information 2 months ago (Edited) Only took 40 years of failed policy (laffer curve/trickle down), dangerous levels of inequality and economic anxiety (see Trumpists), to realize that massive spending targeted at the already wealthy does not trickle down, that massive spending that benefits the wealthy does create economic bubbles and 40 years of flat wages.

We DO need to control inflation. However, we have been doing so by maintaining "the right" amount of unemployment. In other words, we have been controlling inflation by ensuring human misery, lost wages, livelihoods, increased mental health issue and crime. Oops.

It is time to control inflation by sucking money out of the economy from those who do not spend it; ie the wealthy.

In short, spend to create broad based prosperity, get the unemployment rate to zero, and if there are signs of inflation, raise taxes on incomes over 400k, estates, 2nd homes and the like.

Its that path or more demagogues and misery. A dialog showing a permalink to the comment Arthur J Montana A popover with more user information 2 months ago (Edited) When I was in college, my economic professors taught us the benefits of "free trade". It looks great on paper.

I remember professors also teaching about the economic dislocation that occurs as other nation's with better "efficiencies" start to replace industry in the U.S. The theory was that, while uncomfortable, the economic dislocation associated with free trade would be transitory as displaced workers provide a pool of labor for industry to re-direct to more modern industrial pursuits.

What the professors never taught (nor did they ever advocate) was that U.S. based companies would intentionally flee the U.S. with technology transfers to other nations in exchange with low-paid, non-union, labor pools; at the expense of the U.S. Labor Force. That was never taught or advocated by my professors. That was the great Fleecing of America.

The professors also taught against double-standards in international trade with some nations subsidizing their companies to achieve market dominance artificially; while the U.S. played it straight. In many cases, that's exactly what happened to our steel industry; another Fleecing of America. Arguably, Clinton's NAFTA (which I think was initiated during the H.W. Bush Administration) was the codification of this Fleecing of America. A popover with more user information 2 months ago (Edited) And American workers have not forgotten NAFTA, which wrecked our entire domestic garment and textile industry.

[Jun 01, 2021] ARK Invest Stocks To Buy And Watch- 6 Stocks That Cathie Wood's ARK ETFs Own; Zoom Slides Before Earnings

Reminds me of Trading Places.
Jun 01, 2021 | finance.yahoo.com

Theo the Cat 19 April, 2021 Ark is gonna turn into Titanic.

[May 31, 2021] Yes inflation is transitionary. Thos only question is transitionary to what level?

Highly recommended!
As for whether this is "transitory," we may paraphrase J.M. Keynes: In the long run, everything is transitory.
May 31, 2021 | www.wsj.com
D

David Weisz

I accept the reality except that FED said this inflation is "transitory."

The Fed description is accurate... it's just whether the transition is to lower inflation or to runaway inflation.

Jim McCreary
The biggest single factor that will drive long-term inflation is the absence of downward price pressure from new Chinese market entrants. Cutthroat pricing from China is the ONLY reason the West has been able to get away with Money-Printing Gone Wild for the past 20 years without triggering runaway inflation.

There are no new Chinese entrants because the Chinese are now all in in the world economy. The existing Chinese competitors are seeing their costs go UP, not down, because they have fully employed the Chinese population, and have to pay up in order to get and keep workers.

So, without any more downward price pressure from China, this latest round of Money-Printing Gone Wild is showing up as price inflation, and will continue to do so.

Batten down the hatches! Stagflation and then runaway inflation are coming!

[May 30, 2021] Ford Retools Headquarters for Hybrid Work

Executives at PricewaterhouseCoopers LLP have voiced worries that workers who stay remote could wind up as second-class corporate citizens, falling behind in promotions and pay , so the company plans to track rates of advancement for office-based and remote staff in an effort to make sure nobody lags behind.
May 30, 2021 | www.wsj.com

Ford Motor Co. is pushing ahead with digital efforts to help bring office workers back to its Dearborn, Mich., corporate headquarters, while eyeing a future where many of them continue to work from home, company officials say.

For now, the auto maker is aiming for a gradual return of some employees to the sprawling campus beginning in July, with "significantly reduced capacity" to retain social distancing, a spokeswoman said.

[May 30, 2021] Everything Bubble: issuance of new CLOs is on pace to easily exceed 2018's record.

May 30, 2021 | www.zerohedge.com
Lordflin 2 hours ago (Edited) remove link

This has worked out so well in the past I cannot see what could possibly go wrong...

At least the people involved in these transactions are honest, trustworthy folks...

We have built a world upon such a foundation folks... I guess we should all be grateful for the coming war...

And I must be off my meds again...

ebworthen 2 hours ago

Oh yeah, those little beasties.

Mortgage Backed Securities, Credit Default Swaps, Collateralized Loan Obligations.

4X levered ETF's, mortgage/rent +50% of monthly income, HELOC's, 10% inflation.

What could go wrong?

[May 30, 2021] Globalists: The End of Empire and the Birth of Neoliberalism by Quinn Slobodian

The author is a very fuzzy way comes to the idea that neoliberalism is in essence a Trotskyism for the rich and that neoliberals want to use strong state to enforce the type of markets they want from above. That included free movement of capital goods and people across national borders. All this talk about "small government" is just a smoke screen for naive fools.
Similar to 1930th contemporary right-wing populism in Germany and Austria emerged from within neoliberalism, not in opposition to it. They essentially convert neoliberalism in "national liberalism": Yes to free trade by only on bilateral basis with a strict control of trade deficits. No to free migration, multilateralism
Notable quotes:
"... The second explanation was that neoliberal globalization made a small number of people very rich, and it was in the interest of those people to promote a self-serving ideology using their substantial means by funding think tanks and academic departments, lobbying congress, fighting what the Heritage Foundation calls "the war of ideas." Neoliberalism, then, was a restoration of class power after the odd, anomalous interval of the mid-century welfare state. ..."
"... Here one is free to choose but only within a limited range of options left after responding to the global forces of the market. ..."
"... Neoliberal globalism can be thought of in its own terms as a negative theology, contending that the world economy is sublime and ineffable with a small number of people having special insight and ability to craft institutions that will, as I put it, encase the sublime world economy. ..."
"... One of the big goals of my book is to show neoliberalism is one form of regulation among many rather than the big Other of regulation as such. ..."
"... I build here on the work of other historians and show how the demands in the United Nations by African, Asian, and Latin American nations for things like the Permanent Sovereignty over Natural Resources, i.e. the right to nationalize foreign-owned companies, often dismissed as merely rhetorical, were actually existentially frightening to global businesspeople. ..."
"... They drafted neoliberal intellectuals to do things like craft agreements that gave foreign corporations more rights than domestic actors and tried to figure out how to lock in what I call the "human right of capital flight" into binding international codes. I show how we can see the development of the WTO as largely a response to the fear of a planned -- and equal -- planet that many saw in the aspirations of the decolonizing world. ..."
"... The neoliberal insight of the 1930s was that the market would not take care of itself: what Wilhelm Röpke called a market police was an ongoing need in a world where people, whether out of atavistic drives or admirable humanitarian motives, kept trying to make the earth a more equal and just place. ..."
"... The culmination of these processes by the 1990s is a world economy that is less like a laissez-faire marketplace and more like a fortress, as ever more of the world's resources and ideas are regulated through transnational legal instruments. ..."
Mar 16, 2018 | www.amazon.com

Hardcover: 400 pages
Publisher: Harvard University Press (March 16, 2018)
Language: English
ISBN-10: 0674979524
ISBN-13: 978-0674979529

From introduction

...The second explanation was that neoliberal globalization made a small number of people very rich, and it was in the interest of those people to promote a self-serving ideology using their substantial means by funding think tanks and academic departments, lobbying congress, fighting what the Heritage Foundation calls "the war of ideas." Neoliberalism, then, was a restoration of class power after the odd, anomalous interval of the mid-century welfare state.

There is truth to both of these explanations. Both presuppose a kind of materialist explanation of history with which I have no problem. In my book, though, I take another approach. What I found is that we could not understand the inner logic of something like the WTO without considering the whole history of the twentieth century. What I also discovered is that some of the members of the neoliberal movement from the 1930s onward, including Friedrich Hayek and Ludwig von Mises, did not use either of the explanations I just mentioned. They actually didn't say that economic growth excuses everything. One of the peculiar things about Hayek, in particular, is that he didn't believe in using aggregates like GDP -- the very measurements that we need to even say what growth is.

What I found is that neoliberalism as a philosophy is less a doctrine of economics than a doctrine of ordering -- of creating the institutions that provide for the reproduction of the totality [of financial elite control of the state]. At the core of the strain I describe is not the idea that we can quantify, count, price, buy and sell every last aspect of human existence. Actually, here it gets quite mystical. The Austrian and German School of neoliberals in particular believe in a kind of invisible world economy that cannot be captured in numbers and figures but always escapes human comprehension.

After all, if you can see something, you can plan it. Because of the very limits to our knowledge, we have to default to ironclad rules and not try to pursue something as radical as social justice, redistribution, or collective transformation. In a globalized world, we must give ourselves over to the forces of the market, or the whole thing will stop working.

So this is quite a different version of neoliberal thought than the one we usually have, premised on the abstract of individual liberty or the freedom to choose. Here one is free to choose but only within a limited range of options left after responding to the global forces of the market.

One of the core arguments of my book is that we can only understand the internal coherence of neoliberalism if we see it as a doctrine as concerned with the whole as the individual. Neoliberal globalism can be thought of in its own terms as a negative theology, contending that the world economy is sublime and ineffable with a small number of people having special insight and ability to craft institutions that will, as I put it, encase the sublime world economy.

To me, the metaphor of encasement makes much more sense than the usual idea of markets set free, liberated or unfettered. How can it be that in an era of proliferating third party arbitration courts, international investment law, trade treaties and regulation that we talk about "unfettered markets"? One of the big goals of my book is to show neoliberalism is one form of regulation among many rather than the big Other of regulation as such.

What I explore in Globalists is how we can think of the WTO as the latest in a long series of institutional fixes proposed for the problem of emergent nationalism and what neoliberals see as the confusion between sovereignty -- ruling a country -- and ownership -- owning the property within it.

I build here on the work of other historians and show how the demands in the United Nations by African, Asian, and Latin American nations for things like the Permanent Sovereignty over Natural Resources, i.e. the right to nationalize foreign-owned companies, often dismissed as merely rhetorical, were actually existentially frightening to global businesspeople.

They drafted neoliberal intellectuals to do things like craft agreements that gave foreign corporations more rights than domestic actors and tried to figure out how to lock in what I call the "human right of capital flight" into binding international codes. I show how we can see the development of the WTO as largely a response to the fear of a planned -- and equal -- planet that many saw in the aspirations of the decolonizing world.

Perhaps the lasting image of globalization that the book leaves is that world capitalism has produced a doubled world -- a world of imperium (the world of states) and a world of dominium (the world of property). The best way to understand neoliberal globalism as a project is that it sees its task as the never-ending maintenance of this division. The neoliberal insight of the 1930s was that the market would not take care of itself: what Wilhelm Röpke called a market police was an ongoing need in a world where people, whether out of atavistic drives or admirable humanitarian motives, kept trying to make the earth a more equal and just place.

The culmination of these processes by the 1990s is a world economy that is less like a laissez-faire marketplace and more like a fortress, as ever more of the world's resources and ideas are regulated through transnational legal instruments. The book acts as a kind of field guide to these institutions and, in the process, hopefully recasts the 20th century that produced them.


Mark bennett 3.0 out of 5 stars One half of a decent book May 14, 2018 Format: Hardcover Verified Purchase

This is a rather interesting look at the political and economic ideas of a circle of important economists, including Hayek and von Mises, over the course of the last century. He shows rather convincingly that conventional narratives concerning their idea are wrong. That they didn't believe in a weak state, didn't believe in the laissez-faire capitalism or believe in the power of the market. That they saw mass democracy as a threat to vested economic interests.

The core beliefs of these people was in a world where money, labor and products could flow across borders without any limit. Their vision was to remove these subjects (tariffs, immigration and controls on the movement of money) from the control of the democracy-based nation-state and instead vesting them in international organizations. International organizations which were by their nature undemocratic and beyond the influence of democracy. That rather than rejecting government power, what they rejected was national government power. They wanted weak national governments but at the same time strong undemocratic international organizations which would gain the powers taken from the state.

The other thing that characterized many of these people was a rather general rejection of economics. While some of them are (at least in theory) economists, they rejected the basic ideas of economic analysis and economic policy. The economy, to them, was a mystical thing beyond any human understanding or ability to influence in a positive way. Their only real belief was in "bigness". The larger the market for labor and goods, the more economically prosperous everyone would become. A unregulated "global" market with specialization across borders and free migration of labor being the ultimate system.

The author shows how, over a period extending from the 1920s to the 1990s, these ideas evolved from marginal academic ideas to being dominant ideas internationally. Ideas that are reflected today in the structure of the European Union, the WTO (World Trade Organization) and the policies of most national governments. These ideas, which the author calls "neoliberalism", have today become almost assumptions beyond challenge. And even more strangely, the dominating ideas of the political left in most of the west.

The author makes the point, though in a weak way, that the "fathers" of neoliberalism saw themselves as "restoring" a lost golden age. That golden age being (roughly) the age of the original industrial revolution (the second half of the 1800s). And to the extent that they have been successful they have done that. But at the same time, they have brought back all the political and economic questions of that era as well.

In reading it, I started to wonder about the differences between modern neoliberalism and the liberal political movement during the industrial revolution. I really began to wonder about the actual motives of "reform" liberals in that era. Were they genuinely interested in reforms during that era or were all the reforms just cynical politics designed to enhance business power at the expense of other vested interests. Was, in particular, the liberal interest in political reform and franchise expansion a genuine move toward political democracy or simply a temporary ploy to increase their political power. If one assumes that the true principles of classic liberalism were always free trade, free migration of labor and removing the power to governments to impact business, perhaps its collapse around the time of the first world war is easier to understand.

He also makes a good point about the EEC and the organizations that came before the EU. Those organizations were as much about protecting trade between Europe and former European colonial possessions as they were anything to do with trade within Europe.

To me at least, the analysis of the author was rather original. In particular, he did an excellent job of showing how the ideas of Hayek and von Mises have been distorted and misunderstood in the mainstream. He was able to show what their ideas were and how they relate to contemporary problems of government and democracy.

But there are some strong negatives in the book. The author offers up a complete virtue signaling chapter to prove how the neoliberals are racists. He brings up things, like the John Birch Society, that have nothing to do with the book. He unleashes a whole lot of venom directed at American conservatives and republicans mostly set against a 1960s backdrop. He does all this in a bad purpose: to claim that the Kennedy Administration was somehow a continuation of the new deal rather than a step toward neoliberalism. His blindness and modern political partisanship extended backward into history does substantial damage to his argument in the book. He also spends an inordinate amount of time on the political issues of South Africa which also adds nothing to the argument of the book. His whole chapter on racism is an elaborate strawman all held together by Ropke. He also spends a large amount of time grinding some sort of Ax with regard to the National Review and William F. Buckley.

He keeps resorting to the simple formula of finding something racist said or written by Ropke....and then inferring that anyone who quoted or had anything to do with Ropke shared his ideas and was also a racist. The whole point of the exercise seems to be to avoid any analysis of how the democratic party (and the political left) drifted over the decades from the politics of the New Deal to neoliberal Clintonism.

Then after that, he diverts further off the path by spending many pages on the greatness of the "global south", the G77 and the New International Economic Order (NIEO) promoted by the UN in the 1970s. And whatever many faults of neoliberalism, Quinn Slobodian ends up standing for a worse set of ideas: International Price controls, economic "reparations", nationalization, international trade subsidies and a five-year plan for the world (socialist style economic planning at a global level). In attaching himself to these particular ideas, he kills his own book. The premise of the book and his argument was very strong at first. But by around p. 220, its become a throwback political tract in favor of the garbage economic and political ideas of the so-called third world circa 1974 complete with 70's style extensive quotations from "Senegalese jurists"

Once the political agenda comes out, he just can't help himself. He opens the conclusion to the book taking another cheap shot for no clear reason at William F. Buckley. He spends alot of time on the Seattle anti-WTO protests from the 1990s. But he has NOTHING to say about BIll Clinton or Tony Blair or EU expansion or Obama or even the 2008 economic crisis for that matter. Inexplicably for a book written in 2018, the content of the book seems to end in the year 2000.

I'm giving it three stars for the first 150 pages which was decent work. The second half rates zero stars. Though it could have been far better if he had written his history of neoliberalism in the context of the counter-narrative of Keynesian economics and its decline. It would have been better yet if the author had the courage to talk about the transformation of the parties of the left and their complicity in the rise of neoliberalism. The author also tends to waste lots of pages repeating himself or worse telling you what he is going to say next. One would have expected a better standard of editing by the Harvard Press. Read less 69 people found this helpful Helpful Comment Report abuse

Jesper Doepping 5.0 out of 5 stars A concise definition of neoliberalism and its historical influence November 14, 2018

Anybody interested in global trade, business, human rights or democracy today should read this book.

The book follow the Austrians from the beginning in the Habsburgischer empire to the beginning rebellion against the WTO. However, most importantly it follows the thinking and the thoughts behind the building of a global empire of capitalism with free trade, capital and rights. All the way to the new "human right" to trade. It narrows down what neoliberal thought really consist of and indirectly make a differentiation to the neoclassical economic tradition.

What I found most interesting is the turn from economics to law - and the conceptual distinctions between the genes, tradition, reason, which are translated into a quest for a rational and reason based protection of dominium (the rule of property) against the overreach of imperium (the rule of states/people). This distinction speaks directly to the issues that EU is currently facing.

[May 30, 2021] Mean Girl Ayn Rand and the Culture of Greed by Lisa Duggan

Highly recommended!
See also her book: The Twilight of Equality: Neoliberalism, Cultural Politics, and the Attack on Democracy by Lisa Duggan
Notable quotes:
"... From the 1980s to 2008, neoliberal politics and policies succeeded in expanding inequality around the world. The political climate Ayn Rand celebrated-the reign of brutal capitalism-intensified. Though Ayn Rand's popularity took off in the 1940s, her reputation took a dive during the 1960s and '70s. Then after her death in 1982, during the neoliberal administrations of Ronald Reagan in the United States and Margaret Thatcher in the United Kingdom, her star rose once more. (See chapter 4 for a full discussion of the rise of neoliberalism.) ..."
"... During the global economic crisis of 2008 it seemed that the neoliberal order might collapse. It lived on, however, in zombie form as discredited political policies and financial practices were restored. ..."
"... We are in the midst of a major global, political, economic, social, and cultural transition - but we don't yet know which way we're headed. The incoherence of the Trump administration is symptomatic of the confusion as politicians and business elites jockey with the Breitbart alt-right forces while conservative evangelical Christians pull strings. The unifying threads are meanness and greed, and the spirit of the whole hodgepodge is Ayn Rand. ..."
"... The current Trump administration is stuffed to the gills with Rand acolytes. Trump himself identifies with Fountainhead character Howard Roark; former secretary of state Rex Tillerson listed Adas Shrugged as his favorite book in a Scouting magazine feature; his replacement Mike Pompeo has been inspired by Rand since his youth. Ayn Rand's influence is ascendant across broad swaths of our dominant political culture - including among public figures who see her as a key to the Zeitgeist, without having read a worth of her writing.'' ..."
"... Rand biographer Jennifer Burns asserts simply that Ayn Rand's fiction is "the gateway drug" to right-wing politics in the United States - although her influence extends well beyond the right wing ..."
"... The resulting Randian sense of life might be called "optimistic cruelty." Optimistic cruelty is the sense of life for the age of greed. ..."
"... The Fountainhead and especially Atlas Shrugged fabricate history and romanticize violence and domination in ways that reflect, reshape, and reproduce narratives of European superiority' and American virtue. ..."
"... It is not an accident that the novels' fans, though gender mixed, are overwhelmingly white Americans of the professional, managerial, creative, and business classes." ..."
"... Does the pervasive cruelty of today's ruling classes shock you? Or, at least give you pause from time to time? Are you surprised by the fact that our elected leaders seem to despise people who struggle, people whose lives are not cushioned and shaped by inherited wealth, people who must work hard at many jobs in order to scrape by? If these or any of a number of other questions about the social proclivities of our contemporary ruling class detain you for just two seconds, this is the book for you. ..."
"... As Duggan makes clear, Rand's influence is not just that she offered a programmatic for unregulated capitalism, but that she offered an emotional template for "optimistic cruelty" that has extended far beyond its libertarian confines. Mean Girl is a fun, worthwhile read! ..."
"... Her work circulated endlessly in those circles of the Goldwater-ite right. I have changed over many years, and my own life experiences have led me to reject the casual cruelty and vicious supremacist bent of Rand's beliefs. ..."
"... In fact, though her views are deeply-seated, Rand is, at heart, a confidence artist, appealing only to narrow self-interest at the expense of the well-being of whole societies. ..."
Jun 14, 2019 | www.amazon.com

From the Introduction

... ... ...

Mean Girls, which was based on interviews with high school girls conducted by Rosalind Wiseman for her 2002 book Queen Bees and War/tubes, reflects the emotional atmosphere of the age of the Plastics (as the most popular girls at Actional North Shore High are called), as well as the era of Wall Street's Gordon Gekko, whose motto is "Greed is Good."1 The culture of greed is the hallmark of the neoliberal era, the period beginning in the 1970s when the protections of the U.S. and European welfare states, and the autonomy of postcolonial states around the world, came under attack. Advocates of neoliberalism worked to reshape global capitalism by freeing transnational corporations from restrictive forms of state regulation, stripping away government efforts to redistribute wealth and provide public services, and emphasizing individual responsibility over social concern.

From the 1980s to 2008, neoliberal politics and policies succeeded in expanding inequality around the world. The political climate Ayn Rand celebrated-the reign of brutal capitalism-intensified. Though Ayn Rand's popularity took off in the 1940s, her reputation took a dive during the 1960s and '70s. Then after her death in 1982, during the neoliberal administrations of Ronald Reagan in the United States and Margaret Thatcher in the United Kingdom, her star rose once more. (See chapter 4 for a full discussion of the rise of neoliberalism.)

During the global economic crisis of 2008 it seemed that the neoliberal order might collapse. It lived on, however, in zombie form as discredited political policies and financial practices were restored. But neoliberal capitalism has always been contested, and competing and conflicting political ideas and organizations proliferated and intensified after 2008 as well.

Protest politics blossomed on the left with Occupy Wall Street, Black Lives Matter, and opposition to the Dakota Access oil pipeline at the Standing Rock Sioux reservation in the United States, and with the Arab Spring, and other mobilizations around the world. Anti-neoliberal electoral efforts, like the Bernie Sanders campaign for the U.S. presidency, generated excitement as well.

But protest and organizing also expanded on the political right, with reactionary populist, racial nationalist, and protofascist gains in such countries as India, the Philippines, Russia, Hungary, and the United States rapidly proliferating. Between these far-right formations on the one side and persistent zombie neoliberalism on the other, operating sometimes at odds and sometimes in cahoots, the Season of Mean is truly upon us.

We are in the midst of a major global, political, economic, social, and cultural transition - but we don't yet know which way we're headed. The incoherence of the Trump administration is symptomatic of the confusion as politicians and business elites jockey with the Breitbart alt-right forces while conservative evangelical Christians pull strings. The unifying threads are meanness and greed, and the spirit of the whole hodgepodge is Ayn Rand.

Rand's ideas are not the key to her influence. Her writing does support the corrosive capitalism at the heart of neoliberalism, though few movers and shakers actually read any of her nonfiction. Her two blockbuster novels, 'The Fountainpen and Atlas Shrugged, are at the heart of her incalculable impact. Many politicians and government officials going back decades have cited Rand as a formative influence-particularly finance guru and former Federal Reserve chairman Alan Greenspan, who was a member of Rand's inner circle, and Ronald Reagan, the U.S. president most identified with the national embrace of neoliberal policies.

Major figures in business and finance are or have been Rand fans: Jimmy Wales (Wikipedia), Peter Thiel (Paypal), Steve Jobs (Apple), John Mackey (Whole Foods), Mark Cuban (NBA), John Allison (BB&T Banking Corporation), Travis Kalanik (Uber), Jelf Bezos (Amazon), ad infinitum.

There are also large clusters of enthusiasts for Rand's novels in the entertainment industry, from the 1940s to the present-from Barbara Stanwyck, Joan Crawford, and Raquel Welch to Jerry Lewis, Brad Pitt, Angelina Jolie, Rob Lowe, Jim Carrey, Sandra Bullock, Sharon Stone, Ashley Judd, Eva Mendes, and many more.

The current Trump administration is stuffed to the gills with Rand acolytes. Trump himself identifies with Fountainhead character Howard Roark; former secretary of state Rex Tillerson listed Adas Shrugged as his favorite book in a Scouting magazine feature; his replacement Mike Pompeo has been inspired by Rand since his youth. Ayn Rand's influence is ascendant across broad swaths of our dominant political culture - including among public figures who see her as a key to the Zeitgeist, without having read a worth of her writing.''

But beyond the famous or powerful fans, the novels have had a wide popular impact as bestsellers since publication. Along with Rand's nonfiction, they form the core texts for a political/ philosophical movement: Objectivism. There are several U.S.- based Objectivist organizations and innumerable clubs, reading groups, and social circles. A 1991 survey by the Library of Congress and the Book of the Month Club found that only the Bible had influenced readers more than Atlas Shrugged, while a 1998 Modern Library poll listed The Fountainhead and Atlas Shrugged as the two most revered novels in English.

Atlas Shrugged in particular skyrocketed in popularity in the wake of the 2008 financial crash. The U.S. Tea Party movement, founded in 2009, featured numerous Ayn Rand-based signs and slogans, especially the opening line of Atlas Shrugged: "Who is John Galt?" Republican pundit David Frum claimed that the Tea Party was reinventing the GOP as "the party of Ayn Rand." During 2009 as well, sales of Atlas Shrugged tripled, and GQ_magazine called Rand the year's most influential author. A 2010 Zogby poll found that 29 percent of respondents had read Atlas Shrugged, and half of those readers said it had affected their political and ethical thinking.

In 2018, a business school teacher writing in Forbes magazine recommended repeat readings: "Recent events - the bizarro circus that is the 2016 election, the disintegration of Venezuela, and so on make me wonder if a lot of this could have been avoided bad we taken Atlas Shrugged's message to heart. It is a book that is worth re-reading every few years."3

Rand biographer Jennifer Burns asserts simply that Ayn Rand's fiction is "the gateway drug" to right-wing politics in the United States - although her influence extends well beyond the right wing.4

But how can the work of this one novelist (also an essayist, playwright, and philosopher), however influential, be a significant source of insight into the rise of a culture of greed? In a word: sex. Ayn Rand made acquisitive capitalists sexy. She launched thousands of teenage libidos into the world of reactionary politics on a wave of quivering excitement. This sexiness extends beyond romance to infuse the creative aspirations, inventiveness, and determination of her heroes with erotic energy, embedded in what Rand called her "sense of life." Analogous to what Raymond Williams has called a "structure of feeling," Rand's sense of life combines the libido-infused desire for heroic individual achievement with contempt for social inferiors and indifference to their plight.5

Lauren Berlant has called the structure of feeling, or emotional situation, of those who struggle for a good life under neoliberal conditions "cruel optimism"-the complex of feelings necessary to keep plugging away hopefully despite setbacks and losses.'' Rand's contrasting sense of life applies to those whose fantasies of success and domination include no doubt or guilt. The feelings of aspiration and glee that enliven Rand's novels combine with contempt for and indifference to others. The resulting Randian sense of life might be called "optimistic cruelty." Optimistic cruelty is the sense of life for the age of greed.

Ayn Rand's optimistic cruelty appeals broadly and deeply through its circulation of familiar narratives: the story of "civilizational" progress, die belief in American exceptionalism, and a commitment to capitalist freedom.

Her novels engage fantasies of European imperial domination conceived as technological and cultural advancement, rather than as violent conquest. America is imagined as a clean slate for pure capitalist freedom, with no indigenous people, no slaves, no exploited immigrants or workers in sight. The Fountainhead and especially Atlas Shrugged fabricate history and romanticize violence and domination in ways that reflect, reshape, and reproduce narratives of European superiority' and American virtue.

Their logic also depends on a hierarchy of value based on radicalized beauty and physical capacity - perceived ugliness or disability' are equated with pronounced worthlessness and incompetence.

Through the forms of romance and melodrama, Rand novels extrapolate the story of racial capitalism as a story of righteous passion and noble virtue. They retell The Birth of a Ntation through the lens of industrial capitalism (see chapter 2). They solicit positive identification with winners, with dominant historical forces. It is not an accident that the novels' fans, though gender mixed, are overwhelmingly white Americans of the professional, managerial, creative, and business classes."


aslan , June 1, 2019

devastating account of the ethos that shapes contemporary America

Ayn Rand is a singular influence on American political thought, and this book brilliantly unfolds how Rand gave voice to the ethos that shapes contemporary conservatism. Duggan -- whose equally insightful earlier book Twilight of Equality offered an analysis of neoliberalism and showed how it is both a distortion and continuation of classical liberalism -- here extends the analysis of American market mania by showing how an anti-welfare state ethos took root as a "structure of feeling" in American culture, elevating the individual over the collective and promoting a culture of inequality as itself a moral virtue.

Although reviled by the right-wing press (she should wear this as a badge of honor), Duggan is the most astute guide one could hope for through this devastating history of our recent past, and the book helps explain how we ended up where we are, where far-right, racist nationalism colludes (paradoxically) with libertarianism, an ideology of extreme individualism and (unlikely bed fellows, one might have thought) Silicon Valley entrepreneurship.

This short, accessible book is essential reading for everyone who wants to understand the contemporary United States.

Wreck2 , June 1, 2019
contemporary cruelty

Does the pervasive cruelty of today's ruling classes shock you? Or, at least give you pause from time to time? Are you surprised by the fact that our elected leaders seem to despise people who struggle, people whose lives are not cushioned and shaped by inherited wealth, people who must work hard at many jobs in order to scrape by? If these or any of a number of other questions about the social proclivities of our contemporary ruling class detain you for just two seconds, this is the book for you.

Writing with wit, rigor, and vigor, Lisa Duggan explains how Ayn Rand, the "mean girl," has captured the minds and snatched the bodies of so very many, and has rendered them immune to feelings of shared humanity with those whose fortunes are not as rosy as their own. An indispensable work, a short read that leaves a long memory.

kerwynk , June 2, 2019
Valuable and insightful commentary on Rand and Rand's influence on today's world

Mean Girl offers not only a biographical account of Rand (including the fact that she modeled one of her key heroes on a serial killer), but describes Rand's influence on neoliberal thinking more generally.

As Duggan makes clear, Rand's influence is not just that she offered a programmatic for unregulated capitalism, but that she offered an emotional template for "optimistic cruelty" that has extended far beyond its libertarian confines. Mean Girl is a fun, worthwhile read!

Sister, June 3, 2019

Superb poitical and cultural exploration of Rand's influence

Lisa Duggan's concise but substantive look at the political and cultural influence of Ayn Rand is stunning. I feel like I've been waiting most of a lifetime for a book that is as wonderfully readable as it is insightful. Many who write about Rand reduce her to a caricature hero or demon without taking her, and the history and choices that produced her seriously as a subject of cultural inquiry. I am one of those people who first encountered Rand's books - novels, but also some nonfiction and her play, "The Night of January 16th," in which audience members were selected as jurors – as a teenager.

Under the thrall of some right-wing locals, I was so drawn to Rand's larger-than-life themes, the crude polarization of "individualism" and "conformity," the admonition to selfishness as a moral virtue, her reductive dismissal of the public good as "collectivism."

Her work circulated endlessly in those circles of the Goldwater-ite right. I have changed over many years, and my own life experiences have led me to reject the casual cruelty and vicious supremacist bent of Rand's beliefs.

But over those many years, the coterie of Rand true believers has kept the faith and expanded. One of the things I value about Duggan's compelling account is her willingness to take seriously the far reach of Rand's indifference to human suffering even as she strips away the veneer that suggests Rand's beliefs were deep.

In fact, though her views are deeply-seated, Rand is, at heart, a confidence artist, appealing only to narrow self-interest at the expense of the well-being of whole societies.

I learned that the hard way, but I learned it. Now I am recommending Duggan's wise book to others who seek to understand today's cultural and political moment in the United States and the rise of an ethic of indifference to anybody but the already affluent. Duggan is comfortable with complexity; most Randian champions or detractors are not.

[May 28, 2021] Obama's follow-up to "Dreams from My Father" will be "Sins of My Mother"

May 19, 2021 | www.unz.com

Wokeness is just a detail, not the biggest one by any means, of a vast socio-economic collapse of neoliberalism.

chris , says: May 14, 2021 at 7:13 am GMT • 5.8 days ago

What wokeness does mandate for my son (who is studying biology) to be told in his class that he is the carrier of "white guilt" even though his ancestors never interacted with blacks, let alone blacks in the USA.

Obama's follow-up to "Dreams from My Father" will be "Sins of My Mother"

Stephen Paul Foster , says: Website May 14, 2021 at 10:58 am GMT • 5.7 days ago

" [C]orporate "America" which is now flooding all its advertisements with the "correct" races in total disregard to that race's real percentage of the population "

Yes, for corporate America, the U.S. demographic is composed mainly of young, beautiful, smart looking "black folks" with a few flabby, pasty white dullards to heighten the contrast.

[May 28, 2021] Dedollarization is a serious threat to the US neoliberal empire

May 23, 2021 | www.moonofalabama.org

Max , May 23 2021 15:45 utc | 7

How can one ignore all the noise in the media to focus on the crux of the situation, implications, and the future outcomes?

One can only understand the impact of events better and envision the future by exploring plausible scenarios and identifying signals which over time will enable one to size up the probabilities of outcomes.

INTERNATIONAL -- MONETARY IMPERIALISM

Geopolitical relationships are frosty & flammable. All the narratives can be summed up into a few SCENARIOS:

The probabilities of these scenarios will be defined by the following SIGNALS:

Any new scenarios & signals? What probabilities would one assign to various scenarios? What will be the construct of scenarios and signals at the national level?

The Dollar Empire likes to initiate a conflict during Olympics when they are held in its adversaries:

  1. 2008, Georgia conflict
  2. 2014, Ukraine conflict
  3. 2022, ?

[May 26, 2021] U.S. stocks are demonstrating most of the characteristics of a bubble, but don't sell yet, says strategist

Of course, you need to wait until all banks and hedge managers sell ;-)
May 26, 2021 | finance.yahoo.com
Steve Goldstein

U.S. stocks are looking bubbly but it isn't time to sell, argues this fund manager's strategist.

[May 24, 2021] Taibbi- Con Of The Week - Greensill Capital

May 24, 2021 | www.zerohedge.com

pndr4495 2 days ago (Edited)

Doyle Lonnegan to Johnny "Hooker" Kelly in the movie The Sting: "Your boss is quite the card player Mr. Kelly. How does he do it?"

Kelly to Lonnegan: "He cheats."

philipat 2 days ago

It's appropriate that the entirely useless ex-PM Cameron got taken by this guy and tried to use his influence to access free money for him from The Treasury as an "advisor"..He didn't get any.

Cameron couldn't even do corruption properly!!

[May 24, 2021] -The Fed Has Lost Control- - John Williams Warns Of Hyperinflation In 2022

May 24, 2021 | www.zerohedge.com

messystateofaffairs 48 minutes ago

The Fed never had control, just s bunch of shysters running a long term hybrid ponzi scheme.

Lordflin 54 minutes ago (Edited)

The Fed is losing control...

I suppose that is true... as the function has been to drain the people's wealth into the coffers of the few...

The Real Satoshi 29 minutes ago remove link

Sad that Greg Hunter got kicked off youtube.

gregga777 12 minutes ago (Edited)

He is in great company, though. Anyone who offends the Marxist narratives (Politically Correct, Multicultural, Affirmative Action, Diversity, Feminist, LGBTQQ, etc.) gets kicked off YouTube.

pmc 36 minutes ago (Edited) remove link

...As Kissinger said "The illegal we do immediately; the unconstitutional takes a little longer."

https://thenewamerican.com/kissinger-the-illegal-we-do-immediately-the-unconstitutional-takes-a-little-longer/

[May 12, 2021] Crumbling infrastracture

This is what happing in empires in decay...
May 12, 2021 | www.moonofalabama.org
vk , May 12 2021 22:23 utc | 66

Bridge in the USA was literally falling:

Bridge over Mississippi river closed for repairs after inspectors discover MAJOR CRACK, river transport grinds to a halt

I thought the "crumbling infrastructure" was just an internet joke or a lobby thing (American Society of Civil Engineers sounds like a the name of a DC lobby firm). Never thought it was de facto happening in USA.

[May 11, 2021] 11 Plunging Stocks Are Badly Burning Cathie Wood's ARK Invest

May 11, 2021 | finance.yahoo.com

Cathie Wood's ARK Invest is still red-hot, but now in the opposite way: It's getting burned by many collapsing stocks including some in the S&P 500.

[May 11, 2021] Neoliberalism taken to the limit

May 11, 2021 | www.zerohedge.com

ay_arrow

Make_Mine_A_Double 6 hours ago (Edited)

But China can do our bio-chemical warfare research cheaper than we can - it only makes sense to use the theory of 'comparative advantage'.

I think outsourcing our bio-chemical weapons program to our existential enemy is really brilliant and saves the taxpayers money...

replaceme 6 hours ago

Did the NIH give that work special oversight, eg no oversight? Yes, yes they did...

[May 10, 2021] How many times can a declared "expert" be wrong before they are not an expert anymore!

Notable quotes:
"... Ask an economist. Wrong more than 50% of the time and still fully employed. When was the last time an economist got fired for being wrong? ..."
Apr 15, 2021 | www.zerohedge.com
lwilland1012 1 hour ago

How many times can a declared "expert" be wrong before they are not an expert anymore!

INTJ Economist 1 hour ago

Ask an economist. Wrong more than 50% of the time and still fully employed. When was the last time an economist got fired for being wrong?

[May 09, 2021] I think neoliberalism is on its last legs, admin of it is currently under going a near psychotic episode of various degrees depending on how factions roll and the desire to come out on top when the dust settles

May 09, 2021 | www.nakedcapitalism.com

skippy , May 8, 2021 at 3:00 am

Actually I think neoliberalism is on its last legs, admin of it is currently under going a near psychotic episode of various degrees depending on how factions roll and the desire to come out on top when the dust settles.

Covid really presented a situation which has removed so much ideological PR fog, for so many people, that the GFC was just a bad patch or some nefarious plot by outside forces which would snatch their dreams away.

[May 09, 2021] CPI Is A Lie! We can't trust CPI to tell us the truth about inflation by Peter Schiff

Highly recommended!
Notable quotes:
"... The CPI is calculated by analyzing the price of a "basket of goods." The makeup of that basket has a big impact on the final CPI number. According to WolfStreet , 10.9% of the CPI is based on durable goods (computers, automobiles, appliances, etc.). Nondurable goods (primarily food and energy) make up 26.6% of CPI. Services account for the remaining 62.5% of the basket. This includes rent, healthcare, cellphone service etc.) ..."
"... The things the government includes and excludes from the basket can make a profound difference in that final CPI number. Back in 1998, the government significantly revised the CPI metrics. Even the Bureau of Labor Statistics (BLS) admitted the changes were "sweeping." ..."
"... In 1998, the BLS followed the recommendations of the Boskin Commission. It was appointed by the Senate in 1995. Initially called the "Advisory Commission to Study the Consumer Price Index," its job was to study possible bias in the computation of the CPI. Unsurprisingly, it determined that the index overstated inflation " by about 1.1% per year in 1996 and about 1.3% prior to 1996. The 1998 changes to CPI were meant to address this "issue." ..."
"... As Peter pointed out, there is a lot of geometric weighting, substitution and hedonics built into the calculation. The government can basically create an index that outputs whatever it wants. ..."
"... Peter said there is a bit of irony in government officials and central bankers constantly complaining about "not enough inflation." ..."
"... They're the ones that are cooking the books to pretend that inflation is lower than it really is. Because what they're really trying to do is get the go-ahead to produce more inflation, which is printing money." ..."
"... And there are other things that hide inflation. For instance, shrinking packaging so there is less product sold at the same price, or substituting lower quality ingredients, or requiring consumers to assemble items themselves. ..."
"... They find different ways to lower the quality and not increase the price, and I'm sure that the government is not picking up on any of that. If the quality improves, yeah, yeah, they calculate that. But they probably ignore all the circumstances where the quality is diminished." ..."
"... The bottom line is we can't trust CPI to tell us the truth about inflation. ..."
May 04, 2021 | www.zerohedge.com

Via SchiffGold.com,

We've been talking a lot about the specter of inflation. Despite the Fed's assurances not to worry because any price increases we're seeing are transitory, some people are indeed worried. A former JP Morgan managing director warned about inflation and echoed Peter Schiff's view that the central bank is powerless to fight it.

And we're seeing rising prices all over the place, from the grocery store to the gas station. Even the government numbers flash warning signs . But as Peter Schiff explains in this clip from an interview with Jay Martin, it's probably even worse than we realize because the government cooks the numbers when it calculates CPI.

The monthly rises in CPI through the first quarter show an upward trend. The CPI in January was up 0.3%. It was up 0.4% in February. And now it's up 0.6% in March. That totals a 1.013% increase in Q1 alone. The question is does this really reflect the truth about inflation? Peter doesn't think it does.

The government always makes changes to their methods of measuring things, whether it's GDP, or inflation, or unemployment. And they always tweak the numbers to produce a better result as a report card. "

https://www.youtube.com/embed/lnPrsBzIZsw

Imagine if students in a school had the ability to change the metrics by which they were graded or the methodology the teacher used to calculate their grades.

Would it surprise anybody that all of a sudden they started getting more As and Bs and fewer Cs and Ds? The government always wants to make the good stuff better, like economic growth, and the bad stuff better, like unemployment or inflation. So, they want to find ways to make those numbers little and the good numbers big."

The CPI is calculated by analyzing the price of a "basket of goods." The makeup of that basket has a big impact on the final CPI number. According to WolfStreet , 10.9% of the CPI is based on durable goods (computers, automobiles, appliances, etc.). Nondurable goods (primarily food and energy) make up 26.6% of CPI. Services account for the remaining 62.5% of the basket. This includes rent, healthcare, cellphone service etc.)

The things the government includes and excludes from the basket can make a profound difference in that final CPI number. Back in 1998, the government significantly revised the CPI metrics. Even the Bureau of Labor Statistics (BLS) admitted the changes were "sweeping."

According to the BLS, periodic changes to the CPI calculation are necessary because "consumers change their preferences or new products and services emerge. During these occasions, the Bureau reexamines the CPI item structure, which is the classification scheme of the CPI market basket. The item structure is a central feature of the CPI program and many CPI processes depend on it."

In 1998, the BLS followed the recommendations of the Boskin Commission. It was appointed by the Senate in 1995. Initially called the "Advisory Commission to Study the Consumer Price Index," its job was to study possible bias in the computation of the CPI. Unsurprisingly, it determined that the index overstated inflation " by about 1.1% per year in 1996 and about 1.3% prior to 1996. The 1998 changes to CPI were meant to address this "issue."

As Peter pointed out, there is a lot of geometric weighting, substitution and hedonics built into the calculation. The government can basically create an index that outputs whatever it wants.

I think this period of "˜Oh wow! We have low inflation!' It's not a coincidence that it followed this major revision into how we calculate it."

Peter said there is a bit of irony in government officials and central bankers constantly complaining about "not enough inflation."

They're the ones that are cooking the books to pretend that inflation is lower than it really is. Because what they're really trying to do is get the go-ahead to produce more inflation, which is printing money."

Peter said the CPI will never reveal the true extent of rising prices.

And there are other things that hide inflation. For instance, shrinking packaging so there is less product sold at the same price, or substituting lower quality ingredients, or requiring consumers to assemble items themselves.

They find different ways to lower the quality and not increase the price, and I'm sure that the government is not picking up on any of that. If the quality improves, yeah, yeah, they calculate that. But they probably ignore all the circumstances where the quality is diminished."

The bottom line is we can't trust CPI to tell us the truth about inflation.

[May 08, 2021] In 1999, the Wall Street Journal had 286 articles on bubbles. Here are a few of the titles

May 08, 2021 | www.wsj.com

J John Smith

Not only is this not true, the evidence shows that bubbles are called in advance. In 1999, the Wall Street Journal had 286 articles on bubbles. Here are a few of the titles,

And on, and on, etc., etc.

[May 08, 2021] Dogecoin is now valued at more than Ford

May 08, 2021 | www.wsj.com

R Robert A

Dogecoin is now valued at more than Ford.
Economics?
Lunacy is more like it.
This is just more proof that the dollars are becoming more worthless.
Whistling past the graveyard.

[May 07, 2021] Neoliberal empire and FRD four freedoms

May 07, 2021 | www.moonofalabama.org

karlof1 , May 7 2021 19:00 utc | 26

Global Times seems to have declared an Open Season today on the Outlaw US Empire and its vassals/lackeys with a Broadside of articles that build on yestaerday's outstanding editorial . First is this Infographic that asks six pertinent questions based on FDR's Four Freedoms that are now at the core of Western Values despite their being completely disregarded. Next we have Blinken making a fool of himself again at the China-hosted virtual session of the UNSC for claiming to uphold the UN Charter that the Outlaw US Empire's violated daily since 1945 and by attempting to smear others for violating the Universal Declaration of Human Rights when the Empire isn't even a party to that treaty, never having ratified it. But the stunner comes from an odd source, The Guardian , which cited a new poll:

"Reported by the Guardian on Wednesday, another poll in Western countries shows that the US is seen as more of a threat to democracy than Russia and China , with 44 percent of respondents in the 53 countries concerned that the US threatens democracy in their country.

"'They show neither the US, nor the G7, can simply assume the mantle of defenders of democracy,' the Guardian said." [My Emphasis]

It can't be said the Chinese don't have a sense of humor since this article and the graphic it's based on certainly prove otherwise--it's a big dig at how far the mighty have fallen comparing the current G-7 and additional lackeys with those nations that invaded China 120 years ago.

Meanwhile, Outlaw US Empire dependence on China increased :

"China's exports to the US rose 49.3 percent while imports gained 53.3 percent, and the trade surplus with the US was 653.89 billion yuan, an increase of 47 percent . [My Emphasis]

It seems all the Anti-China rhetoric and Congressional hearings only serve to increase that dependence. The reason why is simple: the Neoliberal System is designed to do just that, and Biden along with Congress is doing nothing to reverse that basic problem.

[May 07, 2021] Crooks are selling to fools

finance.yahoo.com

...retail investors have been net buyers of stocks for 10 straight weeks, hedge funds have been sellers, client data from BofA Global Research showed, with the four-week average of net sales of equities by hedge funds hitting their highest levels since the firm began tracking the data in 2008.

[May 05, 2021] FED Powell on tough question: Not sure what the exact nature of that question is

May 05, 2021 | www.zerohedge.com

ReadyForHillary 1 hour ago

When will the economy be able to stand on its own feet?

He immediately followed with:

I'm not sure what the exact nature of that question is.

HA HA HA HA! HA HA HA HA HA HA HA HA!

[May 05, 2021] a "cult" is characterised by slavish reverence and obedience to the personal doctrines of an individual or collective of human beings having no particular, and certainly no substantive, claim to deity. That's especially so when the gurus have an identifiable ulterior motive (Scientology comes to mind an independently intelligent thinker might be compelled to ask how can people be so dumb?).

May 05, 2021 | www.unz.com

Ultrafart the Brave , says: Website May 5, 2021 at 7:07 am GMT • 11.4 hours ago

@Rev. Spooner

Please define the difference between a religion and cult in plain English if you feel offended.

Actually, I'm not offended, just intrigued by the question.

At a first cut, I'd suppose

Ultrafart the Brave , says: Website May 5, 2021 at 7:07 am GMT • 11.4 hours ago
@Rev. Spooner ion and just start making shit up, then that probably qualifies as a "cult".

Bottom line, it's probably all in the eye of the beholder. If you're a true believer, then it's a "religion". If you have neither belief in a religious species nor respect for its adherents, then it's a "cult".

An alternative view might be that "religions" are based around life philosophies that recognise a larger reality than we can perceive here in the material realm, whereas "cults" probably not so much. The more enduring religions seem to have quite a legacy of spooky stuff that so-called "modern science" might have difficulty in resolving (perhaps not so much nowadays, seeing how "science" has become such an arbitrary discipline subject to social and political whim).

All in the eye of the beholder.

[May 03, 2021] Free markets are only free for parasites and usurers to run their schemes.

May 03, 2021 | www.unz.com

Mefobills , says: May 2, 2021 at 8:14 pm GMT • 5.9 hours ago

@HallParvey st absolutely destroy them.

I said: Okay, I get it, if you lend them the money, then they can pay. This is like a Ponzi scheme: you lend the investors enough to pay the interest and keep current. That was my introduction to how the balance of payments worked between the United States and the third world and how political the whole credit problem was.

Free markets are only free for parasites and usurers to run their schemes. Lolbertarianism is an ideology of our (((friends))), and I think its adherents are dupes. I no longer think they are well meaning dupes either, they have a personality defect, where they lack empathy.

[May 03, 2021] For several centuries, Europe served as the Ancient Greece to the American Rome

May 03, 2021 | www.unz.com

Sollipsist , says: April 30, 2021 at 6:33 pm GMT • 2.3 days ago

For several centuries, Europe served as the Ancient Greece to the American Rome -- the source of most of the most important cultural inspirations, despite a certain underlying criticism of 'effeminacy' and 'dissolution.'

The 20th Century's Modernism and Postmodernism was similar to Rome's sometimes successful but more usually inferior attempts to incorporate and ultimately replace the influence of Greek culture. Despite proclaiming a concrete Roman character, Rome was often just a hodgepodge of various assimilated Mediterranean influences (a bland but somehow also nationalistic multiculturalism) until Christianity gave its thinkers and artists a more or less focused and unified point of departure.

Which would indicate some of what the future holds for the European triumphs of the Renaissance to the 20th Century -- a weak acknowledgment of its importance, with a handful of individuals remembered and very little in the way of context or continuity. At best, there could be another Renaissance after the Dark Age that looms. But it doesn't look likely from here, as the Empire is taking so much down with it as it falls.

[May 03, 2021] Republicans and the end of hard neoliberalism by JOHN QUIGGIN

Apr 26, 2021 | crookedtimber.org

As I argued recently , the decline of soft neoliberalism in the US Democratic Party can be explained largely in terms of generational replacement. What about hard neoliberalism and the Republican Party?

After four years of the Trump Administration, and a few months of post-election madness, the Republican Party has completed a transition that has been going on for decades. In the 1980s and 1990s, the Republicans were a hard neoliberal party, spending most of their policy effort on tax cuts and deregulation, and using white grievance politics to attract votes. Now the situation is reversed. The Republicans are a white grievance party, whose targets include 'woke corporations', However, they still attempt to attract support from corporations by advocating tax cuts. While any pretence of principled aversion to regulation has been abandoned, crony capitalist exemptions from regulation are still on offer if the price is right

The core claim of hard neoliberalism was that a free market economy with a modest 'safety net' could do a better job of delivering broad prosperity than the welfare state built on the New Deal and Keynesian economics. The optimism of this message, reflected in Reagan's 'Morning in America' turned into triumphalism with the end of the Cold War.

Hard neoliberals supported globalisation, and cheered on the idea that borderless capital would bring governments under control, and put an end to budget deficits. In particular, Republicans supported trade deals like NAFTA https://www.washingtonpost.com/news/fact-checker/wp/2016/05/09/history-lesson-more-republicans-than-democrats-supported-nafta/

The high point of hard neoliberalism was the 1994 Contract with America, the slogan under which the Republicans gained control of Congress for the first time since 1952. The Contract called for balanced budgets and reduced welfare spending for single-parent families, but also proposed positive measures including an expanded child tax credit.

The commitment to balanced budgets was the first element of hard neoliberalism to be ditched. Responding to the collapse of the dotcom boom, the Bush Administration introduced large, and effectively permanent (fn: the most regressive elements were allowed to expire under Obama) tax cuts. These cuts, along with massive expenditure on the 'forever wars' that began after the 2001 terror attacks, pushed the government budget from the surplus that had been achieved under the Clinton Administration into permanent deficit.

For a brief period, the 'Tea Party' revolt against the Obama Administration appeared as a reversion to hard neoliberalism, with a non-partisan focus on sound finance. In reality, the Tea Party was a mixture of Republican activists and grifters who used its appeal to solicit donations, largely used to fund well-paid jobs for themselves. Both groups have been prominent among the support base for Donald Trump .

By the time the Republicans turned to Trump, grievance politics were already dominant. Trump discarded long held beliefs about free trade and the need for government to stay out of business. But even during Trump's Presidency, Congressional Republicans held on to a few elements of the old mixture, such as corporate tax cuts and pro-corporate changes to regulation. It is only in the aftermath of Trump's attempt to overturn the 2020 election that the alliance between Republicans and big business has been broken.

On the one hand, corporations regularly run afoul of grievance politics, by taking initiatives seen as 'woke'. On the other hand, the threat posed to constitutional government by the Republican party is now so obvious as to arouse corporate resistance. Corporations with a long-term view of their prospects correctly prefer to risk higher tax rates than to operate in a Trumpist banana republic.

A puzzle remains. On the one hand, as we have seen, Trumpism is the culmination of trends going back many decades. On the other hand, today's far right Republican party is clearly different in kind from the party that nominated moderate globalist Mitt Romney for the presidency in 2012

One useful metaphor for this process is that of a phase transition, such as from liquid to gas, or dissolved solid to crystal) in physics and chemistry.

To develop the metaphor, think of the Eisenhower-era Republican party as a complicated mixture of many dissolved ingredients, in which the dominant element was the business establishment, and the Trump era party as a crystallised mass of plutocratic economics, racism and all-round craziness. The development over the 60 years between the two has consisted of keeping the mixture simmering, while adding more and more appeals to racial animus and magical thinking (supply-side economics, climate denial, the Iraq war and so on). In this process various elements of the original mix have boiled off or precipitated out and discarded as dregs.

Boiling off is the process by which various groups (Blacks and Northeastern liberal Republicans in C20, liberaltarians more recently) have left the Republican coalition in response to its racism and know-nothingism. The dregs that have precipitated out are ideas that were supposed to be important to Republicans (free trade, scientific truth, classical liberalism, moral character and so on) that turned out not to matter at all.

Trump's arrival is the catalyst seed crystal that produces the phase change. The final product of the reaction emerges in its crystallised form.

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{ 47 comments }


Sashas 04.26.21 at 4:14 am ( 1 )

Eisenhower was president from 1953-1961. The Great Realignment Republican'">Democrat happened in the 1930s under Roosevelt, and the Southern Strategy that eventually switched the South from Democrat'">Republican and laid out the current US political alignment happened either in 1964 with Goldwater or 1968 with Nixon, in either case after Eisenhower. I'm not sure how reliable the date I have for the first half of this political realignment is (I admit I got it from Wikipedia), but I'm pretty confident of the second half being post-Eisenhower. As a result, I raise my eyebrows quite a bit when I hear about a transition directly from an Eisenhower-era Republican Party to a Trump-era Republican Party. What about the intervening Republican presidents?

In short, I actually agree with this being a direct transition, but I'd argue that the 'œTrump-era' Republican Party starts with Nixon and hasn't stopped since. They made a conscious decision, whose evidence we can see in macro voting patterns and in their correspondence, to incorporate White Grievance into their coalition. I'm unable to find a position on which the Republican Party has changed on a coalition-building level since.

The OP is making the case for Free Markets being such a thing, and I think it's the topic for which the strongest case can be made, but I don't buy it. Republican administrations since Nixon have supported cronyism, military adventures in support of their favored companies, suppression of specific industries (e.g. solar), subsidizing others (e.g. fossil fuels and pharmaceuticals). I'm not an economist, but I suspect that if we zoom in we'd find more cases of Republican administrations intervening against Free Markets than to protect them on the level of individual companies too.

When Republicans say Free Markets, they mean Deregulation and Low Taxes on the Rich, both of which notably continued under Trump.

Romney, for comparison, would probably also have supported Deregulation and Low Taxes on the Rich, but Eisenhower didn't.

Brian 04.26.21 at 6:47 am ( 4 )

Working in the Midwest and Idaho I think there is a large group of jumping voters. I called the 2016 election for Trump after staying in multiple AirBnBs with people who voted Obama twice and were voting for Trump. Same reason '" hope for change.

The past few years I was surrounded by Trump voters, some still good friends. They aren't conspiracy dingbats. They also liked Yang. They radically dislike the democrats corruption and warmongering. It's the religious who sign up to fight those wars and their children coming home in body bags.

The real issue is no choice, nobody except liars, and politicians on the take.

Don't kid yourself, John. The current white house occupants are a senile old warmonger whose drug addict son has him wrapped around his finger, and the one primary candidate who resoundingly lost.

Those two, foisted on the nation by DNC oligarchs, nearly lost! They came within a hair of losing to an uncouth, marginally literate clown. Ignore the electoral college. Look at the margins in states that won.. this is no victory, no mandate, nor is it stable. This pack of Same old drivelers in both parties is busy shoving the same garbage that created Trump's victory.

If you think that the Republicans media machine is unhinged, read Matt Taibbi on Russiagate's lies. How much more unhinged is it for the Democrats media (Rachel Maddow and co) to attack and provoke a nuclear super power into creating new weapons and reinstating MAD.

ArtSrc 04.26.21 at 7:09 am ( 5 )

Here is my evidence that Right Wing science denial is older than Trump:

https://www.latimes.com/archives/la-xpm-1986-01-10-me-911-story.html

Phil 04.26.21 at 8:29 am ( 6 )

I think I'd want to go back further than Sashas. Researching an article on Helen Keller a while back, I discovered to my surprise not only that Ms Keller was a Wob (in the Debs/Wobbly intersect to be precise) but that she was funded by Andrew Carnegie '" and that the GOP of her day was, as well as a party of bankers and strikebreakers, a party of East Coast pencil-necked liberals with fingers in every progressive cause going (excepting the cause of labour, for obvious reasons).

All this was in the period prior to the US joining the Great War '" which is what we historians refer to as a hell of a long time ago '" and the Dems have also gone through a change or two in the same period. (Well, one big one.) Still, I wonder if the story of the GOP could be told as a series of these transitions '" from plutocrat/business/liberal to plutocrat/business/conservative to plutocrat/business/conservative/racist to today's hard core plutocrat/racist '" with the only constant being the presence of people with the kind of money that can endow libraries around the world, or do less useful things .

MFB 04.26.21 at 10:06 am ( 7 )

Wouldn't it be nice to wait and see if there has actually been an end to hard neoliberalism (or, indeed, a leftward shift in the Democratic Party) before making confident and information-free declarations about such matters? As far as I can make out there is essentially no current plan to make any substantive changes in the U.S. economic system arising out of the Democratic Party, and no sign of any substantive shift in the Republican Party's positions.

It is always comforting to believe that such things are true. Liberals, however, have been fooled before, over and over, by the Democratic Party. Naturally politicians attempt to say some nice things, which are then fed back to the appropriate demographics by compliant media houses which have their own agendas and which know that their audience know no alternatives.

As Mr. Fenton put it:

Listen to what they did.
Don't listen to what they said.
What was written in blood
Has been set up in lead.

Lead tears the heart.
Lead tears the brain.
What was written in blood
Has been set up again.

The heart is a drum.
The drum has a snare.
The snare is in the blood.
The blood is in the air.

Listen to what they did.
Listen to what's to come.
Listen to the blood.
Listen to the drum.

MisterMr 04.26.21 at 1:04 pm ( 8 )

I think that the real backbone of conservative parties is small business, more than big corporations. It certainly is so here in Italy (where however we have a much larger share of small business to big business relative to the USA), but I wonder if this is a common phenomenon.

I think that the clash between big business and small business is a big part of the apparent change in right wing parties.

Gorgonzola Petrovna 04.26.21 at 3:43 pm ( 10 )

@1 'œ'¦and Low Taxes on the Rich, both of which notably continued under Trump.'

Ever heard about the infamous SALT cap? Check out the above-mentioned Matt Taibbi @substack.com.

Tm 04.26.21 at 4:44 pm ( 11 )

JQ: 'œAfter four years of the Trump Administration, and a few months of post-election madness, the Republican Party has completed a transition that has been going on for decades. In the 1980s and 1990s, the Republicans were a hard neoliberal party, spending most of their policy effort on tax cuts and deregulation. Now the situation is reversed.'

I suggest you read that snippet again (in isolation), and try to make sense of it. I can't. What has been reversed? Is there a missing step in your argument? 'œTax cuts and deregulation' is a concise description of Trump administration policies, and there is no indication whatsoever that the post-Trump GOP will be any different. And the Culture War has been a staple of right wing politics in the US for decades. So what do you mean by reversal?

rogergathmann 04.26.21 at 4:45 pm ( 12 )

#4, This is beautiful. 'œThe current white house occupants are a senile old warmonger whose drug addict son has him wrapped around his finger'¦' ...

Tom 04.26.21 at 7:13 pm ( 13 )

John, have you read Before the Storm (2001) by Rick Perlstein? You may find it useful for the Goldwater years.

I have also similar issues with the claim of Republicans being free marketeers. Yes, obviously, they (used to) say that they are pro-market but they rarely walk the talk. E.g.: Reagan increased the budget deficit; Trump-like concerns for the trade deficit (with Japan at the time) and currency manipulation spurred the 1985 Plaza Accord; even when they are in favor of lower taxes, they rarely care about how this may distort incentives (e.g. no sales tax on goods purchased on Internet are a subsidy to Bezos), they just (claim that they) want to starve the beast; Casey Mulligan advised Trump and according to him Trump is the greatest deregulator ever; and 'œfreedom' is always a loaded term, e.g. they are against immigration which is just the freedom of one factor of production (labor) to freely move across countries. So, yeah, the libertarians who have (mainly in the past but some also now) supported Republicans are hard neoliberals free marketeers but most Republican rarely fit that description.

More general question (no need to answer, obviously, just for your thoughts): what is the role of this intellectual history section in your book? It seems you are forced to make some generalizations that some may object to, even though it is not clear to me how essential they are to your main thesis.

Barry 04.26.21 at 7:47 pm ( 15 )

Brian: 'œThe past few years I was surrounded by Trump voters, some still good friends. They aren't conspiracy dingbats. They also liked Yang. They radically dislike the democrats corruption and warmongering. It's the religious who sign up to fight those wars and their children coming home in body bags.'

It's the religious right who loved them some o' dat war. It's the religious right who loves corruption, especially in their leaders.

LFC 04.27.21 at 1:16 am ( 20 )

Perhaps relevant to a couple of the above comments is an excerpt from a blog post I wrote in 2016, when I was reading Perlstein's Before the Storm (which I didn't finish):

One thing (among others) that comes through clearly in the first 50 pp. or so of the book is the extent to which the emergent or reconstituting U.S. Right in the '50s and early '60s found a key constituency in family-owned and/or privately-held manufacturing and other businesses'¦ Indeed Perlstein opens the first chapter with a sketch of the political views and trajectory of one such (hypothetical) businessman.

Here's one actual example of many: In '59, on the eve of Khrushchev's visit to the U.S., we're told that 'œMilwaukee's Allen-Bradley Company bought a full page in the Wall Street Journal: 'To Khrushchev, 'œPeace and Friendship' means the total enslavement of all nations, of all peoples, of all things, under the God-denying Communist conspiracy of which he is the current Czar'¦. Don't let it happen here!'' (p.52)

Pretty clearly only a family-run or closely-held business would have felt able to spring for this kind of full-page ad in the WSJ '" a big publicly-traded company presumably would not have done this sort of thing, even if some of its executives might have shared the same views. (I use the word 'œpresumably' because I'm not sure that this speculation is correct, but it seems fairly logical.)

Barry 04.27.21 at 11:56 am ( 26 )

John: 'œFor a brief period, the 'Tea Party' revolt against the Obama Administration appeared as a reversion to hard neoliberalism, with a non-partisan focus on sound finance. '

No, they never did, except for people willing to believe. They didn't have a single problem with abuses under Dubya.

Tm 04.27.21 at 1:51 pm ( 27 )

JQ 25, I think I get your point but I wouldn't call this much of a reversal. An interesting question is at what point Culture War became a (not yet 'the') defining feature of the GOP, and how that point is related to the hard neoliberal turn.

Phil 6 describes the transition 'œfrom plutocrat/business/liberal to plutocrat/business/conservative to plutocrat/business/conservative/racist to today's hard core plutocrat/racist' (i. e. fascist I would say).

Fwiw there also is an account that paints the pre-Reaganite GOP as more complex than that, e. g. they weren't always strictly anti-labor ( https://www.nytimes.com/2020/09/06/opinion/labor-unions-republicans.html ). It seems to me that one characteristic of the GOP of our time is the strict and in the US context extremely unusual ideological homogeneity, which imho strengthens the case for classifying that party as fascist.

nastywoman 04.29.21 at 8:16 am ( 46 )

AND if I may add:

perhaps the decline of soft neoliberalism in the US Democratic Party can be explained largely in terms of 'comical' replacement.

... ... ...

Tm 04.29.21 at 8:48 am ( 47 )

35: 'œThe right wing of earlier times did worship at the altar of engineering and technology for its ability to deliver shiny toys and things that go boom but that did not require either an understanding or respect for science as a methodology.'

You have to look no further than the Nazis. Their general outlook was anti-modernity, anti-enlightenment, they condemned relativity as 'œJewish science' and had quite some affinity with certain esoteric movements (and vice versa), but they also had the engineering/technologiy-worshipping side. See also Italian Futurism.

[May 03, 2021] Global capital, crony capital and the centre-left

Notable quotes:
"... '˜An important limitation of Bruenig's analysis is that she treats 'capital' as a unitary force. There is a sharp division between global corporations, with a long-run interest in the preservation of the rule of law under a democratic government, and the crony capitalists, epitomized by Trump himself, for whom the object is to extract as much as possible from the US economy, as quickly as they can'. ..."
May 03, 2021 | crookedtimber.org

by JOHN QUIGGIN on APRIL 29, 2021

Writing in the New York Times, Elizabeth Bruenig makes the case against an alliance of convenience between liberals and 'woke' corporations against the threat posed to democracy by Trumpism . After acknowledging how desperate the situation has become, she presents the argument, to which I'll respond bit by bit

Capital is unfaithful. It can, and does, play all sides. Many of the courageous businesses that protested North Carolina's 2016 'bathroom bill,' for instance, also donated to political groups that helped fund the candidacies of the very politicians who passed the bill.

This is the nature of alliances of convenience. When the Western Allies joined Stalin to fight against Hitler they had no (or at least few) illusions about him, and didn't rely on him to keep his word any longer than necessary, or to refrain from undermining them in other quarters

It isn't possible to cooperate with capital on social matters while fighting them in other theaters; capital can fight you in all theaters at once, all while enjoying public adulation for helping you, as well.

This simply isn't correct as the Biden Administration is showing. Despite co-operating with capital on social matters,. Biden has proposed substantial increases in corporate tax rates and global action against corporate tax avoidance. In this context, it is the position of capital that has been weakened by the toxicity of its usual allies, the Republicans.

Setting aside the fact that capital can in a single moment be both heroic and diabolical '" Amazon wants you to be able to vote , but it would prefer if you didn't unionize '" it is, incredibly, even less democratic, accountable and responsive than our ramshackle democracy. Capital rallies to the defense of democracy while aggressively quashing that very thing in the workplaces where its workers labor.

Again, this is what happens in an alliance of this kind. Fights over unionization go on, in parallel with an alliance over the right to vote. Once again, it's the corporations who face the bigger problem here, with opportunistic Republicans pretending to back the rights of the workers.

I have no idea what to do about this other than know it for what it is. If it were ever the case that knowledge was power, it certainly isn't so anymore: Knowledge is more widely dispersed than ever; power remains notably concentrated. But knowledge confers a certain dignity. It's worse to be powerless and unaware than to be powerless and perfectly clear on where you stand.

This is a counsel of despair, without any real basis. Bruenig gives no reason to suppose that the fight for democracy can't be won, even if it requires alliances between groups with interests that are otherwise opposed. But if the Republicans can be held at bay long enough to allow the passage of strong voting rights law, they will have to reform themselves or face permanent minority status. Getting to that point (for example, by winning bigger majorities in both Houses of Congress in 2022, then scrapping the filibuster) will be difficult, but not impossible

An important limitation of Bruenig's analysis is that she treats 'capital' as a unitary force. There is a sharp division between global corporations, with a long-run interest in the preservation of the rule of law under a democratic government, and the crony capitalists, epitomized by Trump himself, for whom the object is to extract as much as possible from the US economy, as quickly as they can.

Someone with more expertise than me could interpret all this in terms of the 'fractions of capital' idea put forward by Poulantzas and others in C20. A search on those terms produced this piece in The Guardian , which covers some of those points.


nastywoman 04.29.21 at 7:34 am ( 1 )

'˜An important limitation of Bruenig's analysis is that she treats 'capital' as a unitary force. There is a sharp division between global corporations, with a long-run interest in the preservation of the rule of law under a democratic government, and the crony capitalists, epitomized by Trump himself, for whom the object is to extract as much as possible from the US economy, as quickly as they can'.

I couldn't agree more as:

'˜An important limitation of any current analysis about the US Chaos is that outdated political labels are treated as a unitary forces. There is a sharp division between so called '˜Elites' who are considered to be '˜Elites' because they have a lot of dough, and '˜Elites' who are able to understand jokes about rich Idiots '"
(just joking!)
with a long-run interest in NOT preservation of the rule of law under a democratic government.

Mike Huben 04.29.21 at 11:14 am ( 2 )

I think that Bruenig's basic problem is not so much despair, as the expectations of friendship and loyalty that we want to give and receive. That may work fine in small groups, but fails utterly in larger political and economic situations. Corporations exploit that as much as they can for the benefits of employee and customer loyalty, and hardly ever reciprocate, leading to a lot of disappointment, resentment, and cynicism. I agree with John that there is a different strategy of alliances that's needed for the latter, and it's a shame we don't educate students directly about it.

steven t johnson 04.29.21 at 12:55 pm ( 3 )

Major point: Crony capitalism and crony capitalists are hissable villains. Any clique can nominate whomever they wish as Snidely Whiplash, but as an identifiable group, I believe the crony capitalists are even harder to identify than the aristocracy of labor. They are in economic terms, unproductive capitalists. It's not clear how anyone who rejects the usefulness, or claims the impossibility, of distinguishing unproductive labor from productive labor could accept this as a real category.

Minor point: The supposed alliance of convenience of the 'Allies' with 'Stalin' is not quite the point believed. The supposed allies of Stalin delayed meaningful entry into the war, the second front. And the supposed allies of Stalin turned against the war-ravaged USSR as quickly as possible, launching decades of hostility, including military actions, attempted subversion and economic warfare. This example of 'alliance of convenience' means the corporations will rely on the small-d democrats to fight the bulk of the war, then attack their convenient allies as soon as possible.

Gorgonzola Petrovna 04.29.21 at 2:51 pm ( 4 )

'There is a sharp division between global corporations, with a long-run interest in the preservation of the rule of law under a democratic government, and the crony capitalists, epitomized by Trump himself, for whom the object is to extract as much as possible from the US economy, as quickly as they can. '

Whoa. I happen to feel (and it seems fairly obvious to me) that it's exactly the opposite: domestic capital is interested in long-term prosperity and stability, while global capital operates by invading, squeezing all juice, and moving on.

Could you elaborate on this, please.

BruceJ 04.29.21 at 4:12 pm ( 5 )

Bruenig would have liberals fight a war on all fronts, apparently, without any allies.

[Amazon] is, incredibly, even less democratic, accountable and responsive than our ramshackle democracy.

Well, that may be because it is not in any sense a '˜democracy' . It is a corporation operating within the state framework of a representative democracy.

Corporations are quite responsive to societal concerns the moment their bottom line is threatened . This is the power that consumers have in a consumer-driven economy.

Certainly 'Capital' has deep and abiding shared interests with the Republican party; the GOP has long been their reliable partner delivering the things they want, less taxes, regulation and free reign in international markets; trumpism threatens that, because the essence of Trumpism is it's chaotic arbitrariness.

Witness the whole arc of the '˜banning' of TikTok because people using that platform humiliated Dear Leader. In the end it amounted to'¦well, we still don't know what, exactly it has amounted to.

This kind of chaos isn't even beneficial to crony capitalists, because as we've seen time and time again in Russia'¦your status as a '˜crony' is always precarious, subject to the whims and paranoia of the autocrat.

marcel proust 04.29.21 at 6:23 pm ( 6 )

The linked Guardian piece has the added appeal for you (I imagine) of using chemistry metaphors similar to the phase transition ones you used here .

On the broader topic of instrumental alliances, you are of course correct, at least if the desired end is achieved goals rather than individual purity. Tom Lehrer's Folksong Army may be a useful counter to Breunig's argument.

Stephen 04.29.21 at 6:58 pm ( 7 )

OP; 'When the Western Allies joined Stalin to fight against Hitler they had no (or at least few) illusions about him.`'

Umm. It seems fairly clear that Roosevelt said, at Yalta 'Stalin doesn't want anything but security for his country, and I think that if I give him everything I possibly can and ask nothing from him in return, noblesse oblige, he wouldn't try to annex anything and will work with for a world of democracy and peace.'

Now with Roosevelt, perhaps even more than with other politicians, there may be a gap between what he really thought and what he wanted his listeners to believe he thought. All the same '¦

As for steven t Johnson @3:
'The supposed allies of Stalin delayed meaningful entry into the war, the second front.'
I would be interested to get an explanation as to why stj thinks that

a) the allied actions before the invasion of France (which is what all good Communists in Britain meant when they painted 'SECOND FRONT NOW' on walls in 1942 or 1943) were not meaningful; and

b) how an invasion of France in 1942 or 1943 would have in fact have shortened the war, other than to Germany's advantage.

Over to you, comrade.

nastywoman 04.29.21 at 7:09 pm ( 8 )

@4
'˜Could you elaborate on this, please'.

Oh? '"
I just would love to '" as aren't you the '˜Petrovna' who once wrote that Greedy Outsourcers are NOT '˜Greedy Outsourcers'? '"
so how does square with your idea of:
'˜domestic capital is interested in long-term prosperity and stability, while outsourcers operate by invading, squeezing all juice, and moving on'.

Trader Joe 04.29.21 at 7:39 pm ( 9 )

I'd say Ms. Bruenig is primarily just someone who needs to grow up and understand that the entire world isn't arrayed around whatever she imagines democracy might be about. She appears as someone who thinks democracy is about waiting your turn in the Starbucks line and tipping the minority barista because they've had to face struggles in life.

Score this as the latest in a line of '˜woke' media who sit and vilify Amazon by posting their views on Facebook, ignoring that every few days a fresh box shows up with a swoosh on their doorstep.

This one uses the NEW YORK F-ing Times as her soapbox '" ironic, no? Last I looked they weren't exactly a not for profit, indeed manufacturing fake concern, real concern, any concern for money is why they exist '" not exclusively, but if not for the $$$ their impact would be equal to the same article in the East Overshoe Nebraska, Gazette.

Many might rail against Exxon and pals but when the tank is on E and its the only station on the highway I know of none that pull over and walk instead of fill up.

Companies exist to fill particular needs '" their political, environmental and social impacts (all of which are important) are by products of their primary mission and are managed as needed in proportion to the degree it impacts their objectives (which heavily involve profit making but only rarely are exclusively focused on profit making).

As JQ notes, they will be an ally when it suits them or (or when it suits you) but they are tools to their own end, not a tool to be wielded by others.

Lobsterman 04.29.21 at 7:41 pm ( 10 )

Bruenig has the right of it, of course '" Biden will help drive our civilization into the climate apocalypse as eagerly as Trump did, and the end result will be the exact same levels of brutality and misery. Biden and Trump are two sides of the same coin; salvation does not come from the 'Senator from MBNA.'

Sooner or later, Biden will get tired of pretending to be benevolent papa. He's already there on weed, police brutality, and imperialism. It's just a matter of time.

Starry Gordon 04.29.21 at 11:53 pm ( 11 )

I find it difficult to believe in the naiveté exhibited in Bruening's article, as if she had never read or heard any serious analysis of power and class. It's as if presenting thumb-sucking as a stance. In the alleged real world, those liberals (whatever that now means) tempted to pick a side in the current ruling-class struggles should remember what Mr. Carlin said: '˜They got a club, and you ain't in it.'

steven t johnson 04.30.21 at 12:53 am ( 12 )

Stephen@7 is preaching to the choir, thus briefly as possible: The USSR joining the UN; restraining the Italian and French CPs; surrendering the Greek CP (well, to be fair, Tito was even more important to this, but still); withdrawal from Austria and Iran; neutralization of Finland; the recognition of Israel; the offer of neutralization of Germany; limited aid (to put it mildly) to the Chinese CP, etc. There are an estimated 20 million reasons why 'Stalin' played it that way. Nonetheless, Stephen's Cold War triumphalism is still wrong.

And as to the alleged mysteries Stephen doesn't understand? The number of German divisions tied down in Italy was about, if I remember correctly, was eight. Churchill may have coined a vivid phrase in 'the soft underbelly of Europe' but it was BS meant to divert troops away from fighting Germans save to protect Egypt etc. The Soviet Union defeated the Nazis, not the Allies. It's true that if the Allies had managed to join the Nazis in alliance with the Finns that the Soviet Union would almost certainly have been defeated. No doubt Stephen regrets the lost opportunity. Or, along with David Brin, wishes the atomic bomb could have been used in Europe to stop'¦Stalin?

The other question, as phrased suggests that a second front in France in 1942 or 1943 would have been advantageous to Germany. I suggest this is simply nuts. Unless there's some assumption that a second front would have promoted the chances of a negotiated peace between the Allies and the Nazis? But this I think is just wishful thinking.

J-D 04.30.21 at 2:15 am ( 13 )

I think that Bruenig's basic problem is not so much despair, as the expectations of friendship and loyalty that we want to give and receive.

As Obsle said to Estraven in The Left Hand Of Darkness (by Ursula Le Guin), '˜We can pull a sledge together without being kemmerings.'

J-D 04.30.21 at 2:16 am ( 14 )

Bruenig has the right of it, of course '" Biden will help drive our civilization into the climate apocalypse as eagerly as Trump did, and the end result will be the exact same levels of brutality and misery. Biden and Trump are two sides of the same coin; salvation does not come from the 'Senator from MBNA.'

Sooner or later, Biden will get tired of pretending to be benevolent papa. He's already there on weed, police brutality, and imperialism. It's just a matter of time.

Elizabeth Bruenig says nothing whatever about Joe Biden (good or bad), so why are you trying to change the subject in this way?

J-D 04.30.21 at 4:51 am ( 15 )

I find it difficult to believe in the naiveté exhibited in Bruening's article '¦

Naïveté (like the misspelling of people's names) is extremely common. Being unable to credit other people's naïveté is itself often a sign of naïveté.

In the alleged real world, those liberals (whatever that now means) tempted to pick a side in the current ruling-class struggles should remember what Mr. Carlin said: '˜They got a club, and you ain't in it.'

You don't think that refusing to take your opportunities where you find them is a kind of naïveté?

Tm 04.30.21 at 7:38 am ( 16 )

It seems to me that certain fractions of the left are just awful when it comes to tactical politics. Tactical alliances are part of almost all successful politics. One doesn't have to always be friends to have common political goals under selective circumstances.

MisterMr 04.30.21 at 8:48 am ( 17 )

@Stephen 7
Umm. It seems fairly clear that Roosevelt said, at Yalta 'Stalin doesn't want anything but security for his country, and I think that if I give him everything I possibly can and ask nothing from him in return, noblesse oblige, he wouldn't try to annex anything and will work with for a world of democracy and peace.'

Stalin did, for example, call the communist italian partigiani and told them NOT to attempt a communist takeover in Italy, but instead to collaborate with other democratic forces.
This is because Stalin agreed at Yalta that Italy was to be under the western sphere of influence, and he didn't want stir too much the situation.
What are the acions that Stalin did outside of the USSR that prove Roosvelt wrong?

That Stalin was a terrible tyrant inside the eastern block is obviously true but this is not what Rooselt was speaking about, I think.

It seems to me that you (Stephen) are underplayng the poular support Stalin (and on the other side, various fascist movements) had in many parts of Europe at the time, and therefore you don't see how Stalin's actions were, in fact, not all that aggressive on the international scene.

Saurs 04.30.21 at 9:28 am ( 18 )

I don't see any meaningful and substantive distinction between the phenomenon Bruenig purports to describe and as a consequence what she is counseling (despite saying she isn't) and the We Should Improve Society Somewhat toon. It's a more or less perfect distillation of nominally pro-labor anti-Democratic thinkythoughters who for the sake of purity preach no collective action or cooperation beyond the right kind of trade unionism. Yet another entry in the prevailing Atomized Style.

Ebenezer Scrooge 04.30.21 at 11:45 am ( 19 )

Breunig is religious left. Religious types tend to be very deontological'"they care much more about right v. wrong than good v. bad. Many readers of this blog might agree that capital is 'wrong.' (Not, you, Tim W.!) But since we are good consequentialists here, we would also agree that this particular alliance with capital is 'good.'

Bruce Baugh 04.30.21 at 1:55 pm ( 20 )

Bruenig has a problem most of us don't: she wants abortion banned, and she wants to continue thinking this position is both liberal and popular out in the public at large. It's pretty clear that corporate America at large isn't going to help get her any closer to that.

J, not that one 04.30.21 at 2:32 pm ( 21 )

'This is the nature of alliances of convenience.'

Bruenig is typical of a school of thought that would like everyone to act on principal 100% of the time. Is it possible to persuade someone to do the right thing even if they didn't already want to? Apparently that's even worse than if they can't be persuaded by any means. Is it possible to persuade imperfect people to improve the world? That's not good enough. We should live with the world's problems while continuing our search for perfect people.

When this goes along with treating 'capitalism' as both a totalizing force and something that can never be worked with, it doesn't leave a lot of room for anything short of a kind of leftist Benedict Option, unless it's total war against even quite mild manifestations.

Stephen 04.30.21 at 6:46 pm ( 22 )

MisterMr @17: thank you for a rational, though I think in several ways mistaken, reply.
I quoted Roosevelt's belief at Yalta that Stalin would 'not try to annex anything' and 'work for a world of democracy and peace.' Even before Yalta, Stalin's behaviour in foreign policy (Nazi-Soviet pact, annexation of the Baltic states and eastern Poland, Katyn) and domestic policy (Holodmor, the Great Terror) should have been enough to show that he had no interest refraining from annexation, nor in democracy or peace.

You ask ' What are the actions that Stalin did outside of the USSR that prove Roosevelt wrong?' Well, apart from those above, there were his postwar annexations of as much of Europe as he could manage, and his behaving there as (in your own words) ' a terrible tyrant'.

You say I am 'underplaying the popular support Stalin '¦ had in many parts of Europe at the time'. I can't quite see how that is relevant: I don't think he had much support in the parts of Europe he annexed. Among the French and Italian Communist parties, yes, but I think those countries were much better off for not being annexed.

Stephen 04.30.21 at 6:51 pm ( 23 )

As for steven t johnson @12: I am entirely unable to understand how your intemperant rant relates to anything I wrote, or have previously written. In other circumstances I would have concluded 'the man's clearly delusionary, ignore him' but you accuse me of regretting an opportunity for the UK to ally with the Nazis and defeat the Soviet Union. or even of wishing for atomic warfare in Europe. These are completely unjustifiable and seriously defamatory conclusions, such as I had not expected to find on CT. What train of thought '" I can hardly say, of logic '" led you to them, I cannot say.

As far as I can follow your argument, it is that
1) Regarding the Allied contribution to defeating Germany before the Normandy invasion, 'The number of German divisions tied down in Italy was about, if I remember correctly, was eight.' I don't have a history of the Italian campaign to hand, but the Wikipedia article states that in May 1944 the German forces in italy numbered 439,224. Eight bloody big divisions, surely.
It also gives Axis losses in Italy, before the final surrender, as being about 530,000. And I don't know why, apart from sheer ignorance, you regard the Allied contribution, pre-Normandy, as being restricted to the Italian campaign. Which, incidentally, made the rather important Allied invasion of southern France possible.

2) Arguing that there were cases where Stalin did not invade and tyrannise his neighbours does not refute the obvious case that there were many times when he did.

3) ' The Soviet Union defeated the Nazis.' In terms of the land battle in eastern Europe, of course that's true, apart from the rather embarrassing period when they were trying to help the Nazis to defeat the Western democracies. Whether they could have succeeded without help from the West is not at all obvious.

4) I await, without much hope, svj's explanation of why a cross-Channel invasion in 1942 or 1943 would have been other than an extensive and complete catastrophe: Dieppe writ very large, Kasserine-sur-mer? If that had happened, I suspect that a negotiated peace might have resulted. but I would regard that as fearful, not wishful thinking.

5) I wrote that Roosevelt was naive in believing that the concept of 'noblesse oblige' applied to Stalin, and that therefore I am guilty of 'Cold War triumphalism'. Well, I lived through most of the Cold War, and could foresee four possible developments:
a) War in Europe becomes hot. I hope stj would agree that would have been a global catastrophe, even if the Soviet Union had in some sense 'won'.
b) Cold war continues indefinitely, so that in 2021 we would still have the armed forces of the Warsaw Pact and NATO confronting each other, with (a) on the cards, and eastern Europe under unwelcome Soviet domination.
c) Cold War in Europe ends with collapse of Western alliance under the influence of Communist-Neutralist-Defeatist elements, followed by the installation of Soviet-type domination in Europe.
d) Cold War ends with the collapse of the Soviet Union and its domination under the weight of its own internal contradictions.
Personally, I am very glad that (d) happened. I suspect '" though I would be happy to have stj's own opinion '" that he would much have preferred (c) or failing that (b).
Pre-emptive comment: no, of course I don't think that the effects of the collapse of Actually Existing Socialism have been always desirable. A basic lesson from history is that solving one problem always leaves many other problems unsolved, and often gives rise to new ones.

Gorgonzola Petrovna 04.30.21 at 7:22 pm ( 24 )

@nastywoman, 8
'aren't you the '˜Petrovna' who once wrote that Greedy Outsourcers are NOT '˜Greedy Outsourcers'?'

I wouldn't anthropomorphize economic phenomena. It tends to obscure rather than illuminate, imo.

Tm 04.30.21 at 8:22 pm ( 25 )

MisterMr: 'žWhat are the acions that Stalin did outside of the USSR that prove Roosvelt wrong?'

Umm, what definition of USSR are you applying here? This thread is a distraction and we should better not feed it but I can't help being curious'¦

Starry Gordon 04.30.21 at 8:38 pm ( 26 )

J-D 04.30.21 at 4:51 am @ 15 '"
I misspelled '˜naïveté' too, didn't I? Actually I thought putting in the diaeresis might be a bit much.

You ask: '˜You don't think that refusing to take your opportunities where you find them is a kind of naïveté?' I think that would depend on the context and the nature of the opportunities. He that sups with the Devil should take a long spoon and all that, no? Maybe if Bruenig had read more commie literature she could have located her disquiet more precisely. But then, could she work for the Times ?

Tm 04.30.21 at 9:19 pm ( 27 )

The posturing of Republican corporate stooges complaining about corporations is quite amusing:
https://www.lawyersgunsmoneyblog.com/2021/04/ted-cruz-has-been-a-corporate-stooge-his-as-long-as-hes-been-a-senator-says-ted-cruz

John Quiggin 05.01.21 at 12:32 am ( 28 )

Unless someone wants to make the case that the US and UK governments should not have allied themselves with Stalin, I request that we draw a halt to the discussion on that point.

J-D 05.01.21 at 1:49 am ( 29 )

It seems to me that certain fractions of the left are just awful when it comes to tactical politics.

In my experience, many people have trouble with thinking tactically much of the time.

I misspelled '˜naïveté' too, didn't I? Actually I thought putting in the diaeresis might be a bit much.

The dictionary offers more than one spelling. You chose the one you preferred, I chose the one I preferred. I am more sensitive on the subject of misspelling of names. For all I know, Bruening is in fact a correct spelling, it's just not the correct spelling of Elizabeth Bruenig's surname.

You ask: '˜You don't think that refusing to take your opportunities where you find them is a kind of naïveté?' I think that would depend on the context and the nature of the opportunities. He that sups with the Devil should take a long spoon and all that, no?

There is an important difference between the advice '˜If you sup with the devil, you should have a long spoon' and the advice '˜Never sup with the devil, no matter how long your spoon, even if the alternative is starvation'.

Robespierre 05.01.21 at 4:33 am ( 30 )

Since Bruenig is 'naive', don't be naive in turn.

1) To the extent that corporations do this to ally themselves with the Democratic party's power, as opposed to conforming to consumers' woke orthodox culture, what do they want in return?

2) Corporations in America are uniquely (in the rich world) able enforce correct speech and thought because of the unusually big power they have over their employees. The answers I usually hear from democratic party supporters is a mix between rejoicing in woke mccarthyism and 'lol, the first amendment doesn't apply to corporations, you dummy!'.
The point is: is this healthy and what are we going to do about it?

3) Related to (2), woke monopolies have crippled the right-wing social media infrastructure (after cultivating the fash-curious information bubble for years) and are big enough to bully states into changing their election laws -for the better, this time.
Again, the point is 'is this healthy and what are we going to do about it'.
If the 'left''˜s reaction is 'be happy that Daddy beat up my enemy today', cool, but maybe it's not the best way to go about it.

[May 03, 2021] New kind of leadership

Apr 26, 2021 | finance.yahoo.com

Archegos is a Greek word denoting leadership. The place where the eponymous family office led UBS, and a growing roll call of investment banks, was into a morass.

[May 02, 2021] Cutting neoliberal oligarchy foothold on political power is essential for reversing neoliberalism in Western countries

May 02, 2021 | www.moonofalabama.org

karlof1 , May 2 2021 20:49 utc | 19

I see Michael Hudson has posted three new items at his website since I last appeared here. I'd like to think some barfly posted the links to them, in particular this one, "America's Neoliberal Financialization Policy vs. China's Industrial Socialism" . Mike opens by citing Machiavelli:

"Nearly half a millennium ago Niccolo Machiavelli's The Prince described three options for how a conquering power might treat states that it defeated in war but that 'have been accustomed to live under their own laws and in freedom: the first is to ruin them, the next is to reside there in person, the third is to permit them to live under their own laws, drawing a tribute, and establishing within it an oligarchy which will keep it friendly to you....'

"U.S. strategists have preferred Machiavelli's third option: To leave the defeated adversary nominally independent but to rule via client oligarchies."

Michael then succinctly spells out the current crisis and its roots:

"The U.S.-China confrontation is not simply a national rivalry, but a conflict of economic and social systems. The reason why today's world is being plunged into an economic and near-military Cold War 2.0 is to be found in the prospect of socialist control of what Western economies since classical antiquity have treated as privately owned rent-yielding assets: money and banking (along with the rules governing debt and foreclosure), land and natural resources, and infrastructure monopolies .

"This contrast in whether money and credit, land and natural monopolies will be privatized and duly concentrated in the hands of a rentier oligarchy or used to promote general prosperity and growth has basically become one of finance capitalism and socialism. Yet in its broadest terms this conflict existed already 2500 years ago in the contrast between Near Eastern kingship and the Greek and Roman oligarchies. These oligarchies, ostensibly democratic in superficial political form and sanctimonious ideology, fought against the concept of kingship. The source of that opposition was that royal power – or that of domestic 'tyrants' – might sponsor what Greek and Roman democratic reformers were advocating: cancellation of debts to save populations from being reduced to debt bondage and dependency (and ultimately to serfdom), and redistribution of lands to prevent its ownership from becoming polarized and concentrated in the hands of creditors and-landlords .

"From today's U.S. vantage point, that polarization is the basic dynamic of today's U.S.-sponsored neoliberalism. China and Russia are existential threats to the global expansion of financialized rentier wealth. Today's Cold War 2.0 aims to deter China and potentially other counties from socializing their financial systems, land and natural resources, and keeping infrastructure utilities public to prevent their being monopolized in private hands to siphon off economic rents at the expense of productive investment in economic growth ." [My Emphasis]

This is Hudson's best, tersest, explanation of the current crisis, that in reality has existed for a great many centuries. He then narrows to a few crucial specifics:

"Financialized industrial capital wants a strong state to serve itself, but not to serve labor, consumers, the environment or long-term social progress at the cost of eroding profits and rents.

"U.S. attempts to globalize this neoliberal policy are driving China to resist Western financialization. Its success provides other countries with an object lesson of why to avoid financialization and rent-seeking that adds to the economy's overhead and hence its cost of living and doing business.

"China also is providing an object lesson in how to protect its economy and that of its allies from foreign sanctions and related destabilization. Its most basic response has been to prevent an independent domestic or foreign-backed oligarchy from emerging . That has been one first and foremost by maintaining government control of finance and credit, property and land tenure policy in government hands with a long-term plan in mind." [My Emphasis]

That is precisely why China's governing political method is so heavily distorted and demonized, and why all attempts to emulate it are viciously attacked--Iran, Cuba and Venezuela being prominent examples. The ongoing situation's very fluid, but the upper hand is clearly held by China and the emerging Eurasian Bloc. An example of China's lead is its successful initiation of its space station project to be completed and fully operational next year while Biden has given the reigns of the Outlaw US Empire's space project to Kamala Harris who is completely unqualified to lead such an endeavor.

I'd be remiss not to provide this link to Hudson's recent Macau lectures on Super Imperialism , which are in the form of you tube type videos. I've yet to fully explore them, but the course synopsis is here .

[May 02, 2021] If I'm going to lose the house gambling, it's more respectable to do so in the stock market.

May 02, 2021 | www.wsj.com
SUBSCRIBER 2 hours ago Borrowing money to gamble on the stock market is not a very smart thing to do in my opinion. Like thumb_up 7 Reply Share link Report R

If I'm going to lose the house gambling, it's more respectable to do so in the stock market. SUBSCRIBER 2 hours ago

Borrowing money to gamble on the stock market is not a very smart thing to do in my opinion.

[Apr 27, 2021] The atomisation of US society by Identity Politics, Selective Censorship and Political Correctness (aka self-censorship).

Apr 27, 2021 | www.moonofalabama.org

Hoarsewhisperer , Apr 25 2021 14:58 utc | 17

Interesting essay over at Turcopolier.com about the atomisation of US society by Identity Politics, Selective Censorship and Political Correctness (aka self-censorship).

The United States of 2 Americas
Posted on April 25, 2021 by Steven J. Willett

The following article by Ret. Col. John Mills from The Epoch Times should be of interest to readers of this site.

Commentary

If you haven't noticed, the United States is reorganizing itself into two Americas -- blue and red. Although there is a president of the United States, state governors are in many ways now driving the national narrative in this new America.
etc, etc.

div>


/div

[Apr 24, 2021] When The Market Unravels There Will Be -No Place To Hide- - David Stockman - YouTube

Apr 24, 2021 | www.youtube.com

peter plouf , 4 hours ago

The current financial world has been reduced to a one-legged bar-stool in a bar where drinks are on the house. There is no scenario where this does not end well no matter how euphoric we are in the moment.

[Apr 22, 2021] Rabobank -- Does This Portend The End Of Neoliberal Idiocy

Apr 22, 2021 | www.zerohedge.com

... ... ...

Anyway, somewhere that powerful leaders are not being seen and powerful --dare I say revolutionary?-- forces are sweeping in, is football. The European Super League, so derided in this Daily for the past two days, has crumbled . All six English clubs have pulled out, with one or two even apologizing to "legacy" fans, and the vice-chair of Manchester United resigning. Victory for the people's game! Victory for localism over globalism! Well, yes, except it's far from certain the British government will now act as promised to deliver real power back into fans' hands via partial ownership of the clubs they worship to stop this happening again. Moreover, the pre-existing football structure we revert to includes an expanded gilt-edged Champions League format, and a game that is still more about money than it is about anything else.

So does this portend the end of Build Back Better globalism? Or the end of neoliberal idiocy? Or the entrenchment of nasty neoliberalism as the savior from an even stupider version of neoliberalism? Well, in markets, every time our system fails we swear we are changing it in response – and then the same old faces do the same old things, but worse, under a new badge.

The primary way this now happens of course is that central banks pretend that not only do they not see the asset inflation they are deliberately stoking, they also don't see the supply-side cost-push inflation . Instead, they talk about the wage inflation they can never stoke alone – and which even fiscal policy in tandem can't either without people power 'football' policy. As we have just seen, this will also have to involve decoupling and (peaceful) redrawing of economic borders around a local, national, or limited international perimeter. On which note, the US push for a new liberal world fiscal order is reportedly already in trouble ( no! ) because Amazon doesn't want to join the party: ' Taxation Dies in Darkness ', it seems.

So to conclude my own epic here, which way are the powerful forces of history leading us? And what are powerful leaders going to do to either resist or accelerate this momentum? It seems odd for a global financial market with the attention span of a bowl of borscht to have to consider, but that kind of Tolstoyan question is still one for the ages . Today particularly so.


Lordflin 3 hours ago remove link

This is not idiocy...

It is desperation on the part of a group of ruthless, heartless psychopaths who are currently gazing over the balconies in watchful fear... on the lookout for that far off glow of midnight torches...

dead hobo 1 hour ago (Edited) remove link

I was going to say the same thing, only less tactfully.

The mass media depends on terrorist stories and the acts that make people want to read or watch them. That's what they want to Build Back Better. Inciting riots and worse is good for business.

Globalists only want control and power so they can make profit. They want low costs for goods, labor, and open borders to facilitate both. Globalists only care about BLM and the like if they affect customer traffic. Their logical end result of Globalism is feudalism for the 99%.

Democrats crave endless power. Racial politics is their stock in trade. Playing groups against each other while doling out benefits is what being a Democrat means. Establishment Republicans are parasites, for the most part.

People of good conscience are terrified of ending on the wrong side of the mob or as a means to sell newspapers or attract eyeballs by the media. This creates useless law enforcement at the local and federal levels, a milquetoast Supreme Court, and general apathy all around. Simply saying 'No' could be a career ending or even a life threatening act.

To make my point, there's no reason for any of this to end. Over 1/2 of the 99% are proven dimwits. Life is undoubtedly too complicated for them so the above groups appear to be leaders and / or saviors. Perhaps 30% of the population is smart enough to cope with everyday life. They are the minority.

Hence, I suspect we are only at the start of the decline and it will not end. There simply aren't enough people to want it to end. The vast majority are either controlled by self interest or too stupid to cope otherwise.

To Hell In A Handbasket 3 hours ago (Edited) remove link

So does this portend the end of Build Back Better globalism? Or the end of neoliberal idiocy? Or the entrenchment of nasty neoliberalism as the savior from an even stupider version of neoliberalism? Well, in markets, every time our system fails we swear we are changing it in response – and then the same old faces do the same old things, but worse, under a new badge.

Only 2 nations are the driving forces behind this ideology (UK & USSA) the rest merely follow, and toe the line. The European Super League, was a stark reminder to most of these American owners, that not only are they outted as greedy b@st@rds, but their version of franchise sports, where no relegation, or promotion can be achieved, is not a model we'd ever swallow.

As for the future? It's all about deluding the average IQ western dunce, that we are blessed with resources, and wealth, when in reality we don't have any resources of note, nor a pot to pl$$ in, and somehow manipulate an outcome where we control finance, and the value of money for another 270+ years, like we have in the last epoch.

The dunces have no f##king idea of the predicament we'll be in, when we lose the scam of deciding the fake value of each respective countries currency. If they did, as we say in England "They'd top themselves" Alas, 75% of ZH, are economic retards, so the reality hit will be even greater when they realise our entire economic model, and illusion of wealth is one of the greatest lies ever perpetrated. Just as bad a lie as the Holocaust death numbers.

Sound of the Suburbs 1 hour ago (Edited)

Neoclassical economics.

It's a crock of ****, but we've rigged it in our favour so we like it.

The rentiers at the top of society had been identified by classical economists.

This wouldn't do at all; they needed a new economics to hide this, neoclassical economics.

The early neoclassical economists hid the problems of rentier activity in the economy by removing the difference between "earned" and "unearned" income and they conflated "land" with "capital".

They took the focus off the cost of living that had been so important to the Classical Economists as this is where rentier activity in the economy shows up.

It confuses making money and creating wealth so all rich people look good.

If you know what real wealth creation is, you will realise many at the top don't create any wealth.

It was a complete disaster last time we used it, but it is rigged in our favour.

How do we get this crock of **** back into the mainstream again?

If you wrap it in a fluffy new ideology, no one will notice.

OK, we'll call it neoliberalism.

What about the economists?

Surely they will notice.

You'll be fine, they won't notice.

Stuck on Zero 3 hours ago

Well, in markets, every time our system fails we swear we are changing it in response – and then the same old faces do the same old things, but worse, under a new badge.

Could be stated more generally:

Well, in markets, every time our system fails we swear we are changing it in response – and then the same old faces do the same old things, but worse, under a new badge.

eatthebanksters 38 minutes ago

Right now the most dangerous thing in our country is the Cancel Culture, being driven by Big Media. Big Media needs to be brought to its knees, faced with two choices: 1. Provide fair and unbiased true journalism, or 2. Elimination. The number of people driving cancel culture are actually few in number. The real number of activist Antifa/BLM is relatively small, however their violent actions reverberate far and wide. They too must be shut down. Until this happens, our country will continue to divide. I am of the opinion that Democrats WANT Maga people to revolt so Dems can call in the military and crush the rebellion once and for all. As a country we are not in a good place right now.

Sound of the Suburbs 2 hours ago

Neoliberalism – Little more than ideological nonsense held together by pseudo economics.

It wouldn't fool anyone with an IQ over 70.

[Apr 22, 2021] Pastors as black Bolsheviks: some black churches try to hold Home Depot hostage

"History Does Not Repeat Itself, But It Rhymes" -- Mark Twain (attributed). This is a naked fight for political power using very questionable means.
Apr 22, 2021 | www.zerohedge.com

Corporations, especially those headquartered in Georgia, have come out against the legislation signed by Governor Kemp. Republicans describe the bill as one that addresses election integrity while Democrats call it a voter suppression law – "Jim Crow 2.0". Coca-Cola and Delta were among the first to make a point to virtue-signal after the governor signed the bill, only to be exposed as taking part in the process and giving input into the legislation. Both were fine with the law until the governor signed it and grievance activists did their thing. Coke soon discovered that not all of its consumers think that companies should be making policy – that 's the job of lawmakers- and now it is trying to clean up the mess it made for itself.

Churches have increasingly played a part in American politics and this is an escalation of that trend. Evangelical churches have shown support for conservative and Republican candidates while black churches get out the vote for Democrats. This threat of bringing a large-scale boycott over state legislation is a hostile action against the corporation. It's political theatre. Groups like Black Voters Matter, the New Georgia Project Action Fund (Stacey Abrams), and the Georgia NAACP are pressuring companies to publicly voice their opposition and the religious leaders are doing the bidding of these politically active groups.

When SB 241 and HB 531 were working through the legislative process, the groups put pressure on Republican lawmakers and the governor to abandon the voting reform legislation. They also demanded that donations to any lawmakers supporting the legislation be stopped. The Georgia Chamber of Commerce tried to remain bipartisan while still voicing support for voting rights but then caved and expressed "concern and opposition" to some provisions . At the time, several large Georgia companies were targeted by activists, including Aflac, Coca-Cola, Delta Airlines, Home Depot, Southern Company and UPS.

The Georgia Chamber of Commerce previously reiterated the importance of voting rights without voicing opposition against any specific legislation. In a new statement to CNBC, the Georgia Chamber said it has "expressed concern and opposition to provisions found in both HB 531 and SB 241 that restrict or diminish voter access" and "continues to engage in a bipartisan manner with leaders of the General Assembly on bills that would impact voting rights in our state."

Office Depot came out at the time and supported the Chamber's statement. The Election Integrity Act of 2021, originally known as Georgia Senate Bill 202, is a Georgia law overhauling elections in the state that was signed into effect by the governor and we know what happened. Office Depot has not delivered for the activists as they demand so now the company faces boycott drama. The religious leaders are taking up where the activist groups left off.

African Methodist Episcopal Bishop Reginald Jackson said the company has remained "silent and indifferent" to his efforts to rally opposition to the new state law pushed by Republicans, as well as to similar efforts elsewhere.

" We just don't think we ought to let their indifference stand ," Jackson said.

The leader of all his denomination's churches in Georgia, Jackson had a meeting last week with other Georgia-based executives to urge them to oppose the voting law, but said he's had no contact with Home Depot, despite repeated efforts to reach the company.

Faith leaders at first were hesitant to jump into the boycott game. Now the political atmosphere has changed and they are being vocal. Jackson focused on pressuring Coca-Cola first. After that company went along to get along, before it realized its error, Jackson moved his focus onto other companies.

"We believe that corporations have a corporate responsibility to their customers, who are Black, white and brown, on the issue of voting ," Jackson said. "It doesn't make any sense at all to keep giving dollars and buying products from people that do not support you."

He said faith leaders may call for boycotts of other companies in the future.

So, here we are with Home Depot in the spotlight. There are four specific demands leveled at Home Depot in order to avoid further action from the activists.

Rev. Lee May, the lead pastor of Transforming Faith Church, said the coalition is "fluid in this boycott" but has four specifics requests of Home Depot: To speak out publicly and specifically against SB 202; to speak out against any other restrictive voting provisions under consideration in other states; to support federal legislation that expands voter access and "also restricts the ability to suppress the vote;" and to support any efforts, including investing in litigation, to stop SB 202 and other bills like it.

" Home Depot, we're calling on you. I'm speaking to you right now. We're ready to have a conversation with you. You haven't been ready up to now, but our arms are wide open. We are people of faith. People of grace, and we're ready to have this conversation, but we're very clear those four things that we want to see accomplished ," May said.

The Rev. Timothy McDonald III, senior pastor of the First Iconium Baptist Church, warned this was just the beginning.

"It's up to you whether or not, Home Depot, this boycott escalates to phase two, phase three, phase four," McDonald said. "We're not on your property -- today. We're not blocking your driveways -- today. We're not inside your store protesting -- today. This is just phase one."

That sounds a lot like incitement, doesn't it? Governor Kemp is speaking out, he has had enough. He held a press conference to deliver his comments.

"First, the left came for baseball, and now they are coming for Georgia jobs," Kemp said, referring to MLB's decision to move this year's All-Star Game from Atlanta over the new laws. "This boycott of Home Depot – one of Georgia's largest employers – puts partisan politics ahead of people's paychecks."

"The Georgians hardest hit by this destructive decision are the hourly workers just trying to make ends meet during a global pandemic. I stand with Home Depot, and I stand with nearly 30,000 Georgians who work at the 90 Home Depot stores and 15 distribution centers across the Peach State. I will not apologize for supporting both Georgia jobs and election integrity," he added.

"This insanity needs to stop. The people that are pushing this, that are profiting off of it, like Stacey Abrams and others, are now trying to have it both ways," Kemp said. "There is a political agenda here, and it all leads back to Washington, D.C."

The governor is right. The activists are in it to federalize elections, not to look out for Georgians, who will lose jobs over these partisan actions. The law signed by Kemp increases voting rights, it doesn't limit them .

[Apr 22, 2021] Market Cap Of Money-Losing Companies Surpasses Dot Com Bubble Record

Apr 22, 2021 | www.zerohedge.com

DHS Fusion Center 6 hours ago

Is Paul Krugman available to talk about how great everything is now or is he still being investigated for distribution of child ****?

archipusz 5 hours ago

I needed a cross dressing analyst to explain this mkt to me. Thanks.

YesWeKahn 6 hours ago

This is Powell speaking:

There is no bubble, this is just a optimism of "not happening" reopening and "not working" vaccine.

[Apr 19, 2021] The USA neoliberalism certainly seems to be in some sort of self-destructive spiral. The MSM has been the key to holding things together through all the deceptions and false flags trying to preserve the public illusion that the neoliberal establishment are somehow the good guys

Apr 19, 2021 | www.moonofalabama.org

Ike , Apr 18 2021 0:30 utc | 59

The USA certainly seems to be in some sort of self-destructive spiral. The MSM has been the key to holding things together through all the deceptions and false flags maintaining the public belief that the establishment are somehow the good guys. This must be approaching an end point soon as thousands of conservative Americans know they were cheated on in the elections and with each new false flag another portion of the population become more skeptical of the official line and less gullible regarding the lies disseminated by CNN BBC etc.


As the Covid19 situation unfolds into an endless train-wreak, with the Vaccines not providing a solution and non promotion of the real solutions by TPTB more and more people will become skeptical that their governments are acting in their interests. (The real solution to Covid19 is the use of Ivermectin, protectively and at all stages of infection and a focus on increasing Vitamin D levels throughout the population)
The attempts by the West to destabilise Russia and China in Ukraine and Xinjiang will hopefully eventually add to the public disbelief of the official narrative.

The world should be extremely grateful for Vladimir Putin and his team for their unflappable restraint. I know I am.


The confronting of Biden by Putin, with the US attempt to assassinate the President of Belarus, a few days after Biden called Putin a killer, must go down in history as one of the greatest ironies of all time. Will the greater public ever get to hear about it from our overhyped news services. No!


This could be described as the "Banality of Evil". The MSM reporters just reporting the official line with no real debate, while the world teeters at a few minutes in midnight on the Nuclear Clock.
Russia and China need to up their game regarding the news media. Provide western audiences with genuinely truth seeking interviewers of politicians and public figures and hold them to account. Public debates between the opposing viewpoints so we are not just subject to the official propaganda that is all the MSM gives us now. Maybe they would say, why should we bother we have more important things to spend money on, and I would understand that.


Finally, MOA has my undying gratitude for providing what should be provided by the News Media. Intelligent commentary and debate about world events as the old empire disintegrates and other powers arise with a more truly humanitarian outlook...

[Apr 09, 2021] A modest suggestion for semi-vacant malls

Apr 09, 2021 | www.zerohedge.com

Cock Strong 38 minutes ago

Bezos notches another $100 billion.

Mando Ramos 7 minutes ago (Edited)

My simple solution is to turn the vacant malls into giant marijuana growing operations,and huge meth labs,and use the revenue from the meth and weed sales to balance the Federal budget..As an additional plus,you put the Mexican drug cartels out of business,which can't be a bad thing,either

FurnitureFireSale 26 minutes ago

The smile on the side of the Prime trucks looks like a big wang (Bezos's?) saying "F-U, take THIS!" to all the small businesses. Once you see it, you cannot unsee it.

Puppyteethofdeath 14 minutes ago

Turn them into homeless shelters.

744,000 Americans filed for 1st time unemployment last week.

Every week the numbers are the same.

no cents at all 5 minutes ago

Yet mall property owners and their ilk have equity prices in the stratosphere. Same with cruise lines. A mystery. (Although doesn't take scooby doo to understand why)

is scooby canceled yet?

aarockstar 7 minutes ago

A 60 year retail experiment goes bust...

[Apr 08, 2021] There is no inflation, it is just that everything costs more.

Apr 08, 2021 | www.wsj.com


B
BA Byron SUBSCRIBER 1 day ago @ Anthony

Economists: " There is no inflation, it is just that everything costs more. "

[Apr 07, 2021] Jamie Dimon in the eyes of ZH crowd

Such comments were definitely impossible before 2007. The level of vitriol is simply incredible. That spells trouble...
Apr 07, 2021 | www.zerohedge.com

10 hours ago

Jamie has Jerome's phone number.

That makes Jamie brilliant. play_arrow 5 play_arrow 1


zorrosgato 10 hours ago

"flush with savings"

HA!

Yen Cross 10 hours ago

Jack, ****, Dimon? Which one was it Z/H Google moderator?

I donate at Christmas.

Basil 20 minutes ago

whats gone wrong is the cancer of progressiveism. wokeism, social justice nonsense.

Gadbous 29 minutes ago

Don't you want to just slap these people?

MuleRider 18 minutes ago

You misspelled decapitate.

GrandTheftOtto 2 hours ago

"It was a year in which each of usfaced difficult personal challenges"

boundless hypocrisy...

Mr. Rude Dog 2 hours ago remove link

" Americans know that something has gone terribly wrong, and they blame this country's leadership: the elite, the powerful, the decision makers - in government, in business and in civic society," he wrote.

"This is completely appropriate, for who else should take the blame?"

Lets see if he projects the problem back on the citizens...Let's see what happens.

"But populism is not policy, and we cannot let it drive another round of poor planning and bad leadership that will simply make our country's situation worse."

I knew the so called elites could not take the blame... You know populism always makes bad decisions with the economy, our monetary system, our infrastructure and just managing our tax money in general...Yes I knew Jamie could not take the blame..LOL.!!!!

QE4MeASAP 2 hours ago

So Dimon is giving the state of the union instead of Biden?

Budnacho 2 hours ago

Jamie Dimon....Friend of the Little Guy....

Tomsawyer2112 PREMIUM 11 hours ago

He doesn't believe a word of what he just said. But he knows that if he wants his bank to continue to be an extension of the government and curry favor then he needs to tow the line. I am sure he also has his eye on a future role as Fed Lead or US Treasurer but might be tough since he's not a diversity candidate.

oknow 2 hours ago

Someone turn off his mike, dont need your sorry *** confession

Just confiscate his wealth and make him do 9 to 5 jobs for the rest of his life.

ChromeRobot 9 hours ago remove link

This guy is a rarity in the banking industry. He's a billionaire. Running a bank I was often told in my early years in finance was foolproof. Everybody needs money and they have it. Hard to fk up. Somehow this "titan" has gamed it to do really well doing something incredibly easy. Positioning yourself to be a SIFI helps too! Too big to fail has it's perks.

a drink before the war 10 hours ago

What Jamie is really saying without saying it is " I get paid in stock options however since the pandemic JPM and other banks haven't been allowed to do stock buy back but come June we get back to the NORMAL and with the FED printing money and giving it to us we going to talk this stock WAY up no matter what because I got almost two years of stock options I gotta get paid for!"

lay_arrow 2
archipusz 10 hours ago

If you want to get to the top, you must speak the party line narrative.

The truth is something different altogether.

Eddie Haskell 10 hours ago

If you want to be a state-approved oligarch you've gotta suck the right dickie. Good job.

Detective Miller 38 minutes ago

"Jaimie Tells Bagholders To 'Buy Buy Buy!!!'"

Onthebeach6 38 minutes ago

The US is addicted to helicoptor money.

The world looks fine to an addict until the supply is cut off.

sbin 41 minutes ago

Jimmy going to lock himself in jail and forfeit his assets?

34k of jerkoff.

Nuk Soo Kow 2 hours ago

How magnanimous of Jamie to blame elitists and civic "leaders" for the structural problems in America. It was the banksters that pushed NAFTA and helped China engineer it's currency against the dollar, which led to massive outflows of productive capital. It was the banksters via the use of financial legerdemain who engineered the collapse in 2008 (not to mention every other banking panic and collapse prior to). It's high time to throw out this den of vipers once and for all.

Nature_Boy_Wooooo 2 hours ago

He lost me at.....

We need more cheap immigrant labor...... housing is unaffordable for many.

No **** moron!......you suppressed our wages and increased demand for housing.

PT 10 hours ago remove link

I always consult the fox when I want to know about the state of the hen house.

QuiteShocking 10 hours ago

Economic boom?? Is really just trying to get back to where we were previously before the pandemic hit with things opening back up etc... More people have been working from home so different spending patterns are developing.. but could change... Supply chain chaos makes it seem like shortages and inflation etc... It may only last through 2023?? but with Dems in charge this is not a given with their anti business slant??

same2u 11 hours ago

UBI for the rich= stock market...

Hope Copy 3 hours ago (Edited)

Jamie knows that the core of Crypto is at the CIA and that the pseudo Republic has far to much Fascist politics at the core .. There has been a competitive failure at most all levels of the government in recent times with a 'winner take all' at the cost of keeping competitive practices alive (not to mention kickbacks).. Of course China is laughing even though they have a history of cutting corners (and outright fraud) in every economic sector.

Mario Landavoz 20 minutes ago

Banker. That's all ya need to know.

Just a Little Froth in the Market 40 minutes ago

But the CEO was very candid about China...

"China's leaders believe America is in decline... The Chinese see an America that is losing ground in technology, infrastructure and education – a nation torn and crippled . . . and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals

This is correct.

Joe A 55 minutes ago

He is just mocking and taking a piss at everybody. That America is such a mess is because of people like him with his scorched earth robber baron rogue capitalism. But there is a way to redeem yourselves. Just make all your assets available to the American people. And oh, blow your own brain out.

Abi Normal 3 hours ago remove link

What else is he supposed to say? As long as things don't go bad for Jamie it's cool.

OrazioGentile 3 hours ago

The Banksters, after years of mismanagement, borderline fraud, and endless bailouts now see that investments in unicorn startups, selling mindless BS to each other, and the quick buck lead to a burned out husk called America?!? Now?!? Let all of them live in the great paradise called the Cayman Islands that they helped build and see how far they get selling "capital instruments" to each other. The last 20 years have taught most Americans that hard work is meaningless to get ahead IMHO.

[Apr 07, 2021] Jamie Dimon: "This boom could easily run into 2023 because all the spending could extend well into 2023."

When did market cheerleading became the key responsibility of all key executives in major banks?
Apr 07, 2021 | www.zerohedge.com

Bay of Pigs 9 hours ago

Legs Dimon has always been a serial liar.

He's incapable of being honest.

One Moment Please 9 hours ago

My neighbors and I are not experiencing any of this 'economic boom' he speaks of.

Maybe we abide in some mysterious economic dead zone?

Mr..Lucky 10 hours ago

"Stock prices have reached what looks like a permanently high plateau," Yale economist Irving Fisher.

[Apr 06, 2021] Et tu, Brute: IMF 'very much in support' of global minimum corporate tax by Brian Cheung

It has been argued that the phrase Et tu, Brute can be interpreted as a curse or warning. It is possible that Caesar adapted the words of a Greek sentence "You too, my son, will have a taste of power", which to the Romans had long since become proverbial. It foreshadows Brutus ' own violent death, after Antony and Octavian decisively defeated the outnumbered armies of Brutus and Cassius at the Battle of Philippi in October 42. After the battle, Brutus committed suicide.
This is not only about IMF being a puppet of the USA. this is also clear reputation of neoliberal ideology.
After this move any defender of neoliberal deregulation looks like joke.
Apr 06, 2021 | finance.yahoo.com

The International Monetary Fund (IMF) says it backs a U.S. proposal for a global minimum corporate tax.

IMF Chief Economist Gita Gopinath said that the fund has been calling for international cooperation on tax policy "for a long time," adding that different corporate tax rates around the world have fueled tax shifting and avoidance.

"That reduces the revenues that governments collect to do the needed social and economic spending," Gopinath told Yahoo Finance Tuesday. "We're very much in support of having this kind of global minimum corporate tax."

Gopinath's remarks are likely to add momentum to U.S. Treasury Secretary Janet Yellen's efforts to start an international dialogue on a new framework. The European Commission on Tuesday also said it supported discussions , but said the ultimate rate should be deliberated through the Organisation for Economic Cooperation and Development (OECD).

Yellen recently called on the 20 largest economies to work together to "stop the race to the bottom" by setting a new minimum that would allow governments more stability in collecting tax revenue. The Biden administration is targeting a 21% global minimum tax for U.S. multinational corporations.

"It is important to work with other countries to end the pressures of tax competition and corporate tax base erosion," Yellen said in a speech Monday.

[Apr 06, 2021] Yellen pledges U.S. international cooperation, calls for global minimum tax

This is anathema to neoliberal ideology with it sfree movement of capital mantra, but the USA is hard pressed, so ideology does not matter anymore.
Apr 06, 2021 | finance.yahoo.com

U.S. Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate and pledged that restoring U.S. multilateral leadership would strengthen the global economy and advance U.S. interests.

In a speech ahead of her first International Monetary Fund and World Bank Spring Meetings as Treasury chief, Yellen signaled stronger U.S. engagement on issues from climate change to human rights to tax base erosion.

A global minimum tax proposed by the Biden administration could help to end a "thirty-year race to the bottom on corporate tax rates," Yellen told an online event hosted by the Chicago Council on Global Affairs.

The proposal is a key pillar of President Joe Biden's $2 trillion infrastructure spending plan, which calls for an increase in the U.S. corporate tax rate to 28% while eliminating some deductions associated with overseas profits.

Without a global minimum, the United States would again have higher rates than a number of other major economies, tax experts say, while the U.S. proposal could help jump-start negotiations for a tax deal among major economies.

World Bank President David Malpass said finance leaders from the Group of 20 major economies on Wednesday would discuss global tax issues, including for digital services, adding that international attitudes were shifting away from continual tax reductions.

"Taxes matter to development, and it's important that the world get it right," Malpass told CNBC television.

Separately, a group of Democratic senators unveiled a legislative proposal to roll back parts of former President Donald Trump's 2017 U.S. tax cuts.


[Apr 06, 2021] Mexico Seeks to Ban Outsourcing After Agreement With Business

Prohibiting outsourcing is anathema to neoliberal ideology.
Apr 06, 2021 | www.bloomberg.com
Mexico's government said it reached a deal with union and business leaders on a controversial bill to ban outsourcing in a move that seeks to close tax loopholes.

The group agreed during a meeting at the National Palace in Mexico City on Monday to forbid the outsourcing of personnel to third-party firms, except for specialized work outside a company's main economic activity, and to implement a new profit sharing model, the labor ministry said in a statement .

[Apr 06, 2021] UBS Predicts 80,000 More Retail Stores Will Close In Five Years

Apr 06, 2021 | www.zerohedge.com

archipusz 1 hour ago

Market surges on 80,000 retail outlet closings optimism.

[Apr 02, 2021] But let's be reasonable - how is it possible to have 700K - 800K initial jobless claims every week and create nearly a million new jobs?

Highly recommended!
If we are to believe authorities the USA. added 916K jobs in March, and the official unemployment rate is at 6% (note the word official; the current official U6 unemployment rate as of March 2021 is 10.70%; so the real number is probably much higher than 10%)
Fudging data became as prominent as it was in the USSR. The neoliberal empire can't afford objective stats.
Notable quotes:
"... monthly data is collected over a brief timeframe - just a few days - and that the calculations are seasonally adjusted. ..."
"... Yes, at least half the sheep population think they are real. It's insane how dumb people are today. ..."
Apr 02, 2021 | www.zerohedge.com

variousmarkets

I spent the last 2 weeks digging into the numbers - especially timing of the surveys and data collection. I get the fact that weekly claims don't reflect new hires. I also realize that monthly data is collected over a brief timeframe - just a few days - and that the calculations are seasonally adjusted.

But let's be reasonable - how is it possible to have 700K - 800K initial jobless claims every week and create nearly a million new jobs? Does anyone really believe any of these numbers?

Globalistsaretrash

Yes, at least half the sheep population think they are real. It's insane how dumb people are today.

[Mar 31, 2021] If pride comes before the fall, the US is peaking in its arrogance and there's few likely outcomes that don't lead to worse conditions

Mar 31, 2021 | www.moonofalabama.org

brainiac3397 , Mar 31 2021 17:28 utc | 4

There will be probably a long period of gradual decline of the USA empire and dismateling of various aspects of neoliberalim in countires all over the globe.

It's evident that the "new world order" China wants is nothing more than respect for a multipolar world and the international institutions in place meant to service this world.

The US has become accustomed to the notion that it is the "world" and that American interests are everybody's interests even when America's interests harm their interests, whether economic(Germany's Nordstream 2 or Japan's trade with China) or security(the DPRK-ROK situation can never be resolved as long as the US interferes as a biased 3rd party) or even humanitarian(see: Palestine, Libya, Syria, Yemen etc).

The pawns of the US empire will go on diatribes to basically outline a framework where America is the end-all, be-all. Human rights, according to racist America. International peace, according to militarist America. Fighting poverty, according to capitalist America.

The only question for me has always been whether the blob of experts, advisors, and government officials are maliciously pursuing this kind of global trolling or whether they're actual believers of the delusion of American Exceptionalism. And the reason would be because the latter are far more likely to cause exceptional suffering and destruction on their moral crusade due to their arrogance in their fundamental "superiority".

If pride comes before the fall, the US is peaking in its arrogance and there's few likely outcomes that don't lead to worse conditions.

[Mar 28, 2021] As a fervent anti-imperialist, I think we should celebrate the incipient loss of Washington's power.

Mar 28, 2021 | www.nakedcapitalism.com

LowellHighlander , March 27, 2021 at 8:42 am

So many USians (as in "people who use far too many resources") really believe, as President Obama intimated on so many occasions, that this country is exceptional. My readings of ancient Greece remind me of Athens: as Edith Hamilton pointed out in The Greek Way, that city-state's decline began when its rulers treated "client states" as conquered territories to be plundered. Athens' decline in power thus began when its rulers, having become so arrogant, became unconcerned with the rights of others. In our own time, we see that our "leaders" not only couldn't care less about the rights of others in terms of foreign countries, but also with regard to Americans not of their class, race, and social/academic pedigrees.

Nevertheless, as a fervent anti-imperialist, I think we should celebrate the incipient loss of Washington's power.

km , March 27, 2021 at 9:56 am

Funny that the neocons claim to be admirers of ancient Athens but seem blissfully unaware of the Thucydides Trap.

Eustachedesaintpierre , March 27, 2021 at 10:46 am

According to Mary Beard & others Thucydides is incredibly difficult to translate resulting in variations depended on the translator.

Perhaps not surprisingly Donald Kagan, Victoria's husband Robert's Father produced his own hawkish assessment of what Thucydides should teach us today.

https://www.bookforum.com/print/1604/thucydides-the-reinvention-of-history-by-donald-kagan-4693

km , March 27, 2021 at 4:51 pm

I suspect that is not the result of a translation problem, but because in this case, Thucidides doesn't say what Kagan and Nuland want them to say.

Even if Thucidides never mentioned it, the problem is real and accurately describes observable reality.

ObjectiveFunction , March 28, 2021 at 12:08 am

"Every generation gets the ancient Greeks and Romans it deserves." – Anon.

Socal Rhino , March 27, 2021 at 10:48 am

Just going by the number of articles in mainstream channels about avoiding the Thucydides Trap, I doubt that.

Roger , March 27, 2021 at 2:56 pm

The Thucydides Trap is a clownish misreading of history by simplistic International Relations scholars who should spend more time talking to real historians of the relevant period. Graham Allison is on record as having done no research on China, he just assumed the parallel with the Peloponnesian war. From my PhD dissertation, which included addressing such simplistic and historically-ignorant theories in International Relations:

The ahistorical, Eurocentric and universalist shortcomings of neorealism with respect to a rising power such as China are evident in analyses such as Allison's (2017), that rely upon the assumption that the small-scale Peloponnesian wars of more than two millennia ago are applicable to the modern world of superpowers and weapons of mass destruction, with the internal dynamics of each nation deemed to relative irrelevance. Furthermore, both classical realist and neorealist scholars may utilize simplistic readings of Thucydides, an author that may in fact be a highly unreliable narrator (Podoksik 2005). There is a great deal of disagreement among historians about who actually started the Peloponnesian wars; it could have been Athens, Sparta, Corinth or even a combination (Dickins 1911; Tannenbaum 1975; Kagan 2013), and therefore the main lesson to be learnt is the complexity of the real world, even the ancient one. In addition, as Bagby notes (1994, p. 133), "Thucydides thinks that an understanding of the political and cultural differences among city-states before and during the Peloponnesian War is crucial for understanding their behavior"; Sparta and Athens could easily be seen as greater ideological competitors than the Cold War US and Soviet Union.

occasional anonymous , March 27, 2021 at 6:55 pm

Actually it's pretty common knowledge among classisists that there was no Thucydides Trap. Whatever his many merits one thing Thucydides didn't even begin to do was to prove his central claim about jealously between a rising and an established power making conflict inevitable.

Yves Smith , March 27, 2021 at 10:14 pm

The book The Thucydides Trap is a 100% misreading of Thucydides. But that never stopped ideologues.

[Mar 28, 2021] It would follow, probably at the behest of Wall Street and Silicon Valley, that the aims stated in Xi's and Putin's Davos speeches would produce aggressive rhetoric from Biden and Blinken toward Russia and China

Mar 28, 2021 | www.nakedcapitalism.com

Nels Nelson , March 27, 2021 at 2:59 pm

Take an article back in February NC linked to in the Asia Times wherein Pepe Escobar reported that "the two really crucial events at Davos" were speeches given by Putin and Xi at the WEF that "received minimal or non-existent coverage across the wobbly West."
Here is a link to an analysis of Putin's speech by Rostislav Ishchenko provided in Escobar's article
https://www.stalkerzone.org/munich-esque-davos/?fbclid=IwAR39jqR8vWHHAAUP0KXazwBAqTqsg7PXkIrlB2Yvmuu0sXZP0WqB3fJgUjw

Add the above to the discussion between Pepe Escobar and Michael Hudson provided in the links today.

It would follow, probably at the behest of Wall Street and Silicon Valley, that the aims stated in Xi's and Putin's speeches and the material discussed by Escobar and Hudson would produce aggressive rhetoric from Biden and Blinken toward Russia and China.

Chauncey Gardiner , March 27, 2021 at 3:16 pm

Interesting that Putin mentioned "financial hegemony" as one of the two tools used "to carry out long-arm jurisdiction and suppress other countries." I assume he means the eurodollar system of offshore US dollars which remains the dominant currency of global finance and capital markets, and control of the global payments system. If so, what are the workarounds, and who controls them? or, are we talking Texas hold'em here?

Susan the other , March 27, 2021 at 3:40 pm

Just an observation here. China is making China a better place; Russia is making Russia a better place; India is India. And the United States looks to be headed in that direction. It is a big job and it will keep our "leaders" busy for a long time. One thing I'd like to see is a cooperating, cohesive and sustainable North America. Canada, the US, Mexico and Central America. That would be a good project for our foreign policy wizards. World War 2 is over. Way long gone. We should let the EU, and especially our long and loyal ally Germany, make their own peace with Russia and China.

Sound of the Suburbs , March 27, 2021 at 3:44 pm

China was all onboard for Western neoliberal ideas.
They started to have their doubts when the US, UK and Euro-zone wrecked their economies in a ridiculous financial fiasco in 2008.
When they realised they had made exactly the same mistakes, and nearly driven the Chinese economy into a financial crisis, they realised neoclassical economics was the problem.
They really needed some decent economics and fast.

We never did work out what happened in 2008, the Chinese did.
The Chinese now know the US, UK and Euro-zone went on a joint economic suicide mission before 2008.
After 2008, they went on an economic suicide mission.
Policymakers are rendered completely clueless with neoclassical economics and try and crash their economies.
If the West is sticking with this load of old rubbish, that's their problem, the Chinese have learned from their mistakes.

Davos 2018 – The Chinese know financial crises come from the private debt-to-GDP ratio and inflated asset prices
https://www.youtube.com/watch?v=1WOs6S0VrlA
The black swan flies in under our policymakers' radar.
They are looking at public debt and consumer price inflation, while the problems are developing in private debt and asset price inflation.
The PBoC knew how to spot a Minsky Moment coming, unlike the FED, BoE, ECB and BoJ.

A year later, and they had made further progress.
Davos 2019 – The Chinese know bank lending needs to be directed into areas that grow the economy and that their earlier stimulus went into the wrong places.
https://www.youtube.com/watch?v=MNBcIFu-_V0
They had pumped bank credit into areas that don't grow GDP, and the private debt-to-GDP had risen to a level they were on the verge of a financial crisis.
Everyone does that with neoclassical economics, but they don't usually see the financial crisis coming, like the US in 1929, Japan 1991 and US, UK and Euro-zone in 2008.

Sound of the Suburbs , March 27, 2021 at 3:45 pm

The one good thing about bringing back neoclassical economics.
We know what led to Wall Street Crash in 1929. The same mistakes have been repeated globally.

At 25.30 mins you can see the super imposed private debt-to-GDP ratios.

https://www.youtube.com/watch?v=vAStZJCKmbU&list=PLmtuEaMvhDZZQLxg24CAiFgZYldtoCR-R&index=6

No one realises the problems that are building up in the economy as they use an economics that doesn't look at debt, neoclassical economics.
As you head towards the financial crisis, the economy booms due to the money creation of unproductive bank lending, as it did in the 1920s in the US.
https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf
The financial crisis appears to come out of a clear blue sky when you use an economics that doesn't consider debt, like neoclassical economics, as it did in 1929.
1929 – US
1991 – Japan
2008 – US, UK and Euro-zone
The PBoC saw the Chinese Minsky Moment coming and you can too by looking at the chart above.
The Chinese were lucky; it was very late in the day.

Everyone has made the same mistake; only the Chinese worked out what the problem was.

Phil in KC , March 27, 2021 at 6:23 pm

Our current status is in some respects comparable to Britain in the decades preceding WW I: balancing rival powers off of each other. In Britain's case, the rivals were Russia, first and foremost, and Germany. But as Germany was perceived to be threatening to both Britain and Russia, Britain made an alliance with Russia (and France) against Germany.

We tried to make a similar alliance with Russia against the growing power of the PRC, but Yeltsin was too weak, and Putin was not eager to become the junior partner of the US in the game of containing Chinese power. Then came the pivot to China (after the failure of Clinton's "reset" with Russia). That failed too. Trump tried to re-engage Putin and levied tariffs on China. Both moves were ineffective.

We still have something to learn from Britain, though: mainly, how to have a long and gentle glide path into decline and yet still manage to punch above our weight. This is something Lawrence Wilkerson has talked about for the last 15 years or so. We either do this or go bankrupt trying to hold onto . . . what?

c_heale , March 27, 2021 at 9:57 pm

Not sure the UK's decline was long and gentle. The USA will be one of the three major powers in the world for a long time yet. What has gone wrong for the USA imo is that it tried to be a hyperpower, to rule the world, when that possiblity really disappeared when first Russia and then other countries obtained nuclear weapons. The neoconseratives need to stop drinking the koolaid.

drumlin woodchuckles , March 27, 2021 at 10:45 pm

Why should we care about punching above our weight?

RMO , March 28, 2021 at 1:34 am

"We tried to make a similar alliance with Russia against the growing power of the PRC, but Yeltsin was too weak, and Putin was not eager to become the junior partner of the US in the game of containing Chinese power."

I don't see any historical evidence supporting that assertion. The US tried to do a complete sack and burn of the remains of the USSR and walk off with everything worth anything. They didn't quite succeed at that but did a lot of harm along the way. Russia tried (with Putin no less) to become part of the EU or at least associate with it and tried to become part of NATO (or at least associate with the rest of Europe in military and security matters) and was told to get lost. Then, violating promises, the expansion of NATO began. I think the record shows that the US wants Russia to be an enemy – regardless of what the Russians want. With the history of the past twenty years to go by I would think that both Russia and China (and likely several other nations) now believe that the US simply can't be negotiated with due to it's penchant for throwing away treaties and ignoring the rule of law whenever it feels like it. If that wasn't bad enough, there's also the holier-than-thou moralizing that goes along with it.

The Rev Kev , March 28, 2021 at 1:59 am

About a decade or so ago there was serious talk in Washington of a US-China pact as an extension of Chimerica. China would supply the money and the manpower while Washington would supply the brains. The rest of the world could go fly a kite as these two would then run the world but the Chinese for some mysterious reason had zero interest in being the junior partner in this proposal.

drumlin woodchuckles , March 28, 2021 at 3:02 pm

That's because China had already decided to turn America into one of its many Overseas Tibets. ( I have read that the Chinese word for Tibet translates to Western Treasure House. And they also refer to Tibet as Water Tower Number One).

[Mar 28, 2021] " how to bring the now-former hegemon down off its high perch " is a bit ambitious. It may be instead be to minimize the inevitable global damage caused by an empire in decline

Mar 28, 2021 | www.nakedcapitalism.com

Thuto , March 27, 2021 at 8:18 am

Putin has perhaps realised that unflappability and civility, long his calling cards in diplomatic relations with the West, even when coming under the most vicious attacks, will never win him or Russia any favour with the western mainstream press and their political class overlords. You can't reason with a bully so might as well do a more polished version of Duterte telling Obama to "go to hell" as Putin and China are doing here. The pillars of American foreign policy are increasingly being shown up to be relics of a bygone era, anachronistic and maladaptive in the extreme.

The world has moved on and people are no longer buying the "America is a force for good" story. They see the worst of American cultural values e.g. excessive consumption, being exported by Hollywood to their societies and American companies swooping in to harvest the demand for useless stuff that comes as a result of this. Dismounting the high horse will be difficult for America to do but I don't see that she has any choice here, the world is starting to signal strongly that we've all had enough of the exceptionalism and belligerence borne of entitlement with which the US engages with other nations.

Weimer , March 27, 2021 at 8:53 am

Yes, and perhaps the most important task before R/C is how to bring the now-former hegemon down off its high perch, quietly and gracefully, or at least without triggering an all out war. I do hope they can pull it off, otherwise it's curtains for us all.
But it is not the first time p. Putin told the West Russia will go its own way. The 2007 Munich security conference put all on notice; some just refused to listen.
But if we take those 5 min 25 sec, and the Chinese statement in Anchorage that USA has no qualifications (!) to speak to China from the position of strength, we should see that the world's distribution of power has changed. In spite of more tricks and subterfuge that the West will no doubt deploy, what matters more now is the self-confidence these two nations have finally owned. For us, the little folk, however, it will get worse before it gets better.

pebird , March 27, 2021 at 10:44 am

" how to bring the now-former hegemon down off its high perch " is a bit ambitious.

It may be instead be to minimize the inevitable global damage caused by an empire in decline.

[Mar 28, 2021] No empire, or system, lasts forever: neoliberalism as a system requires infinite growth, quite impossible on a finite planet

Everything of human creation has a lifespan and everything of human creation can be changed or removed by human hand. Slavery, feudalism and other systems of the past
March 18, 2021
Mar 28, 2021 | systemicdisorder.wordpress.com

The bottom line question from all of the above is this: Will this U.S. dominance come to an end? Stepping back and looking at this question in a historical way tells us that the answer can only be yes, given that there has been a sequence of cities that have been the financial center.

Centuries ago, the seat of a small republic such as Venice could be the leading financial center on the strength of its trading networks. Once capitalism took hold, however, the financial center was successively located within a larger federation that possessed both a strong navy and a significant fleet of merchant ships (Amsterdam); then within a sizeable and unified country with a large enough population to maintain a powerful navy and a physical presence throughout an empire (London); and finally within a continent-spanning country that can project its economic and multi-dimensional military power around the world (New York).

No empire, whatever its form, lasts forever. But knowledge of the sequence of capitalist centers tells us nothing of timing. Each successive new financial locus was embedded in successively larger powers able to operate militarily over larger areas and with more force. What then could replace the U.S.? The European Union has its effectiveness diluted by the many nationalisms within its sphere (and thus nationalism acts as a weakening agent for the EU whereas it is a strengthening agent for the U.S. and China). China's economy is yet too small and retains capital controls, and its currency, the renminbi, isn't fully convertible.

U.S. Treasury bills remain the ultimate safe haven, as shown when investors poured into U.S. debt during crises such as the 2008 collapse, even when events in the U.S. are the trigger.

There are no other possible other contenders, and both the EU and China, as already discussed, are in no position to seriously challenge U.S. hegemony.

Here we have a collision of possibilities: The transcending of capitalism and transition to a new economic system or the decreasing functionality of the world capitalist system should it persist for several more decades. Given the resiliency of capitalism, and the many tools available to it (not least military power), the latter scenario can't be ruled out although it might be unlikely. Making any prediction on the lifespan of capitalism is fraught with difficulty, not least because of the many predictions of its collapse for well over a century. But capitalism as a system requires infinite growth , quite impossible on a finite planet and all the more dire given there is almost no place on Earth remaining into which it can expand .

Although we can't know what the expiration date of capitalism will be, it will almost certainly be sometime in the current century . But it won't be followed by something better without a global movement of movements working across borders with a conscious aim of bringing a better world into being. In the absence of such movements, capitalism is likely to hang on for decades to come. In that scenario, what country or bloc could replace the U.S. as the center?

And would we want a new center to dictate to the rest of the world? In a world of economic democracy (what we can call socialism) where all nations and societies can develop in their own way, in harmony with the environment and without the need to expand, and with production done for human need rather than corporate profit, there would no global center or hegemon and no need for one.

Capitalism, however, can't function without a center that uses financial, military and all other means to keep itself in the saddle and the rest of the world in line.

Yes, the day of U.S. dethronement will come, as will the end of capitalism . But the former is not going to happen any time soon, however much millions around the world wish that to be so, and the latter is what we should be working toward. A better world is possible; a gentler and kinder capitalism with a different center is not.

Jef Jelten says: March 18, 2021 at 12:31 pm

Excellent analysis! I would just point out that those who decide how the world operates, and I am not talking about the US Gov, hold the vast majority of their wealth in dollar$. Most of their power and influence would disappear if the dollar as world reserve currency system were to end. Their power to manipulate from behind the scenes is nearly unlimited and this is not conspiracy theory.

Their ace in the hole is of course World WAR.

It seems to me that all wars and all Empire collapses are about resources and we are at or near peak everything so that is IMO what will determine how things play out sooner than we all think too.

Cheers and keep up the good work!
jef

Systemic Disorder says: at 6:03 pm

Greetings, Jef.

" Most of their power and influence would disappear if the dollar as world reserve currency system were to end. " That is very much true, and is true not only for the U.S. bourgeoisie but also for the bourgeoisie and compradors of countries around the world. When the U.S. unraveling comes, it will be on a steeping curve, but that day is a long way off yet. Nonetheless, resource depletion may well intervene sooner than we believe . Better to organize now rather than later.

[Mar 28, 2021] Real unemployment is double the 'official' unemployment rate

Notable quotes:
"... The Globe and Mail ..."
"... The Globe and Mail ..."
"... The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China ..."
Mar 28, 2021 | systemicdisorder.wordpress.com

How many people are really out of work? The answer is surprisingly difficult to ascertain. For reasons that are likely ideological at least in part, official unemployment figures greatly under-report the true number of people lacking necessary full-time work.

That the "reserve army of labor" is quite large goes a long way toward explaining the persistence of stagnant wages in an era of increasing productivity.

How large? Across North America, Europe and Australia, the real unemployment rate is approximately double the "official" unemployment rate.

The "official" unemployment rate in the United States, for example, was 5.5 percent for February 2015. That is the figure that is widely reported. But the U.S. Bureau of Labor Statistics keeps track of various other unemployment rates, the most pertinent being its "U-6" figure. The U-6 unemployment rate includes all who are counted as unemployed in the "official" rate, plus discouraged workers, the total of those employed part time but not able to secure full-time work and all persons marginally attached to the labor force (those who wish to work but have given up). The actual U.S. unemployment rate for February 2015, therefore, is 11 percent .

Share of wages, 1950-2014 Canada makes it much more difficult to know its real unemployment rate. The official Canadian unemployment rate for February was 6.8 percent, a slight increase from January that Statistics Canada attributes to "more people search[ing] for work." The official measurement in Canada, as in the U.S., European Union and Australia, mirrors the official standard for measuring employment defined by the International Labour Organization -- those not working at all and who are "actively looking for work." (The ILO is an agency of the United Nations.)

Statistics Canada's closest measure toward counting full unemployment is its R8 statistic, but the R8 counts people in part-time work, including those wanting full-time work, as "full-time equivalents," thus underestimating the number of under-employed by hundreds of thousands, according to an analysis by The Globe and Mail . There are further hundreds of thousands not counted because they do not meet the criteria for "looking for work." Thus The Globe and Mail analysis estimates Canada's real unemployment rate for 2012 was 14.2 percent rather than the official 7.2 percent. Thus Canada's true current unemployment rate today is likely about 14 percent.

Everywhere you look, more are out of work

The gap is nearly as large in Europe as in North America. The official European Union unemployment rate was 9.8 percent in January 2015 . The European Union's Eurostat service requires some digging to find out the actual unemployment rate, requiring adding up different parameters. Under-employed workers and discouraged workers comprise four percent of the E.U. workforce each, and if we add the one percent of those seeking work but not immediately available, that pushes the actual unemployment rate to about 19 percent.

The same pattern holds for Australia. The Australia Bureau of Statistics revealed that its measure of "extended labour force under-utilisation" -- this includes "discouraged" jobseekers, the "underemployed" and those who want to start work within a month, but cannot begin immediately -- was 13.1 percent in August 2012 (the latest for which I can find), in contrast to the "official," and far more widely reported, unemployment rate of five percent at the time.

Concomitant with these sobering statistics is the length of time people are out of work. In the European Union, for example, the long-term unemployment rate -- defined as the number of people out of work for at least 12 months -- doubled from 2008 to 2013 . The number of U.S. workers unemployed for six months or longer more than tripled from 2007 to 2013.

Thanks to the specter of chronic high unemployment, and capitalists' ability to transfer jobs overseas as "free trade" rules become more draconian, it comes as little surprise that the share of gross domestic income going to wages has declined steadily. In the U.S., the share has declined from 51.5 percent in 1970 to about 42 percent. But even that decline likely understates the amount of compensation going to working people because almost all gains in recent decades has gone to the top one percent.

Around the world, worker productivity has risen over the past four decades while wages have been nearly flat. Simply put, we'd all be making much more money if wages had merely kept pace with increased productivity.

Insecure work is the global norm

The increased ability of capital to move at will around the world has done much to exacerbate these trends. The desire of capitalists to depress wages to buoy profitability is a driving force behind their push for governments to adopt "free trade" deals that accelerate the movement of production to low-wage, regulation-free countries. On a global basis, those with steady employment are actually a minority of the world's workers.

Using International Labour Organization figures as a starting point, professors John Bellamy Foster and Robert McChesney calculate that the "global reserve army of labor" -- workers who are underemployed, unemployed or "vulnerably employed" (including informal workers) -- totals 2.4 billion. In contrast, the world's wage workers total 1.4 billion -- far less! Writing in their book The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China , they write:

"It is the existence of a reserve army that in its maximum extent is more than 70 percent larger than the active labor army that serves to restrain wages globally, and particularly in poorer countries. Indeed, most of this reserve army is located in the underdeveloped countries of the world, though its growth can be seen today in the rich countries as well." [page 145]

The earliest countries that adopted capitalism could "export" their "excess" population though mass emigration. From 1820 to 1915, Professors Foster and McChesney write, more than 50 million people left Europe for the "new world." But there are no longer such places for developing countries to send the people for whom capitalism at home can not supply employment. Not even a seven percent growth rate for 50 years across the entire global South could absorb more than a third of the peasantry leaving the countryside for cities, they write. Such a sustained growth rate is extremely unlikely.

As with the growing environmental crisis, these mounting economic problems are functions of the need for ceaseless growth. Once again, infinite growth is not possible on a finite planet, especially one that is approaching its limits. Worse, to keep the system functioning at all, the planned obsolescence of consumer products necessary to continually stimulate household spending accelerates the exploitation of natural resources at unsustainable rates and all this unnecessary consumption produces pollution increasingly stressing the environment.

Humanity is currently consuming the equivalent of one and a half earths , according to the non-profit group Global Footprint Network. A separate report by WWF–World Wide Fund For Nature in collaboration with the Zoological Society of London and Global Footprint Network, calculates that the Middle East/Central Asia, Asia-Pacific, North America and European Union regions are each consuming about double their regional biocapacity.

We have only one Earth. And that one Earth is in the grips of a system that takes at a pace that, unless reversed, will leave it a wrecked hulk while throwing ever more people into poverty and immiseration. That this can go on indefinitely is the biggest fantasy.

[Mar 26, 2021] Those Fortune 500 companies most of which incorporated in Delaware did not do so for patriotic reasons, but to avoid tax and government regulation.

Mar 26, 2021 | www.unz.com

Sean , says: March 26, 2021 at 12:55 am GMT • 19.8 hours ago

@Commentator Mike eo-play">

Reagan made jokes about burning the midday oil, but he was faced with stagnant collapsing Russia, not dynamic China. Biden has actually said that China is doomed to collapse and already in decline because–get this– the Chinese are not young enough. Those Fortune 500 companies most of which incorporated in Delaware did not do so for patriotic reasons, but to avoid tax and government regulation. The elites (38 to 58 year olds) running America or at least largely determining who wins the elections are more interested in making money on their Chinese investments than US primacy; Trump was a merely a blip and the future of America is pretty much set on relative decline now.

[Mar 24, 2021] On Jerome Powell pronouncements

Mar 24, 2021 | www.wsj.com

P Paul Avila SUBSCRIBER 8 hours ago U.S. stocks edged higher Wednesday as investors awaited more testimony from Federal Reserve Chairman Jerome Powell.

Good grief. Is there any way his subordinates could prevent that? Perhaps lock him in a supply closet until the market closes? Every time he opens his pie hole, I lose money. W Will Bee SUBSCRIBER 8 hours ago Actually I suspect we are waiting for all the FED and Treasury "people" to stop jawboning us so Markets can assimilate their irrelevance

[Mar 19, 2021] U.S. Aggressiveness Will Accelerate Its Demise

Notable quotes:
"... Western headlines are for western internal consumption. And what's happening behind the scene, what incentives are offered and what threats are made in exchange for what specific actions, we simply don't know. ..."
"... The Biden admin's behavior is purposeful and, frankly, entirely logical if you view it from the American perspective of global production: the US, its ruling class, and its population greatly benefits from the neocolonial expropriation of value from exploited nations, granted largely through unequal exchange. ..."
Mar 19, 2021 | www.moonofalabama.org

Jackrabbit , Mar 18 2021 19:03 utc | 3

Then, after days of badmouthing China, it finally daunted to Blinken that he needs China's help.

Why, after so many bad words towards it, would China help the U.S. with solving the North Korea problem? It has zero incentive to do so.

The same aggressive behavior can be seen with regards to Russia. Baseless accusations of Russian election interferences are followed with more sanctions and threats topped off with Biden calling Russia's President Putin a 'killer' . As the Canadian Russia expert Paul Robinson writes :

As for Biden's comments, well what can one say? Didn't he just order the bombing of Syria. Doesn't that make him a 'killer' too? Politicians should avoid this sort of language. I suspect, though, that what this and the intelligence report mentioned above indicate is that Russiagate , with its allegations of Trump-Putin collusion to undermine American democracy, has done irreparable damage to US-Russia relations. One gets the impression that there is now a deep, deep hatred of Russia within the US government, a hatred that prevents any sane analysis of Russian intentions and actions, as well as of US national interests . I fear that this will last for quite a long time.

Andrei Martyanov adds :

[The] degradation of the American political institutions, top-bottom, and its speed are mind-boggling. As for the class and culture--US political elite and US media machine don't have any. Biden merely confirmed it today.
...
One Russian saying posits that one can still negotiate with scoundrels, one cannot negotiate with idiots. When the opposite side is both, boy, talk about the United States turning into the third world country.

The hostility the U.S., by its behavior and words, creates against itself is not restricted to Russia and China.

Last week the French "Armed Forces Joint Reflection Circle" CRI, an independent think tank of former generals and high officers of the French forces, issued an open letter to NATO General Secretary Jens Stoltenberg in which it accused him of having acting solely in the interest of the U.S. during the development of his NATO 2030 plan .

The letter details how Stoltenberg, NATO and the U.S. have caused the bad relations with Russia. It says that the U.S. is trying use a fictional 'Russian threat' to pressure NATO countries into morphing into a global force, under U.S. command and independent of the United Nations, to then use it against China. This while the real threat to Europe is Islamic terrorism caused by the U.S. interferences in the Middle East and north Africa. The U.S. led NATO is thereby becoming a danger for Europe.

The accusations the French generals are launching against the U.S. go beyond anything one might hear from Moscow or Beijing.

The next 'allied' nation that will have sound reason to turn hostile towards the U.S. might well be Germany :

The Biden administration Thursday stepped up its rhetoric against a gas pipeline between Russia and Germany, calling on all those involved in the project to "immediately abandon" their work.

"The Department reiterates its warning that any entity involved in the Nord Stream 2 pipeline risks US sanctions and should immediately abandon work on the pipeline," Secretary of State Antony Blinken said in a statement.

Nord Stream 2 is of vital importance to Germany's energy security. The German public was rather hostile to President Trump and Biden's victory was seen with relief. But when it sees how Biden pursues the same policies, and with a similar tone, it will turn on him. A more general 'anti-Americanism' would then arise.

The uncompromising and ever aggressive behavior the U.S. shows towards competitors as well as friends will not lead to a stronger U.S. position in the world. People and nations will learn to work around it.

These rushed attempts to prevent the ending of its unipolar moment will only accelerate the move towards a new multilateral global system.

Posted by b on March 18, 2021 at 18:48 UTC | Permalink

AFP Breaking News (from Twitter)

US warns entities involved in Nord Stream 2 to "immediately abandon work"

White House says does not regret Biden calling Putin "killer"

!!


Seej , Mar 18 2021 19:05 utc | 4

Pepe Escobar also has noted in his Telegram channel the craziness of Dem Dementia admin's work till now aptly:

"DIPLOMACY'S DEAD, BABY. DIPLOMACY'S DEAD.

The Empire of Chaos is in utter desperation, and on a Kill Bill rampage. Without a samurai sword.

Some of us, including Alastair Crooke, Paul Craig Roberts, The Saker, and if we he was still alive, Prof. Stephen Cohen, have been warning everyone for a long time.

It doesn't matter that Russiagate was completely debunked. The Dem Dementia administration is now on Russiagate 2.0 on steroids.

This "intel" report on Russian interference in the - rigged - US elections does not even qualify as a bad joke.

What Crash Test Dummy's handlers told him to say in that interview about Putin being "a killer", "without a soul" who will "pay a price", goes way beyond ANYTHING that happened during the Cold War.

At least there was a measure of diplomatic decency in the superpowers relationship.

What's happening now is totally reckless, totally irrational - not to mention terminally stupid: there is NO American foreign policy left.

The Kremlin - as well as the Ministy of Foreign Affairs - already got the picture: they are dealing with a bunch of lowly gangsters which also happens to be criminally insane.

For the record: Stupidistan is now at war ON THREE FRONTS. Against Russia, against China and against Iran.

Declining empires are ALWAYS strategically stupid."

Piotr Berman , Mar 18 2021 19:06 utc | 5
Nord Stream 2 is of vital importance to Germany's energy security. The German public was rather hostile to President Trump and Biden's victory was seen with relief. But when it sees how Biden pursues the same policies, and with a similar tone, it will turn on him. <-- b

However "hostile", Germany contributed to uni-lateral Trumpian sanctions, and so far, North Stream 2 is the only beacon of independence. Take Ukraine: Germany and France form half of Normandy Four, and provided name for Steinmeier formula. Ukraine resolutely resists proceeding with any obligations under that formula. Germany is silent on that and support annual extensions of sanctions, not to mention sanctions on Syria, Venezuela and whatever EU sanctions. Syria is an interesting example. It could be actually popular among German voters to facilitate reconstruction in that country and return of the refugees to their homeland. Iran and Russia are potentially good customers for German industry. Independence of German banks and other companies from whimsical sanctions from USA would help too.

Seemingly, ingrained masochism is hard to overcome.

Piotr Berman , Mar 18 2021 19:12 utc | 6
Ukrainian government quite recently decided to insult China. Not only Chinese investors who got the majority stake in a major Ukrainian company (major in Ukraine, that is) were prevented from getting their hard paid ownership, but the buyers became targets of sanctions, practically, confiscation of property.

The reaction, other than verbal, was a bit slow.

But last week a large business/tourism delegation from China visited Crimea, officially sponsored by the Ministry of Foreign Trade and concluded a number of deals, with promise of more. What happened to Ukrainian purchase of Chinese vaccine is hard to tell.

Piotr Berman , Mar 18 2021 19:20 utc | 7

For the record: Stupidistan is now at war ON THREE FRONTS. Against Russia, against China and against Iran.

Declining empires are ALWAYS strategically stupid."

Posted by: Seej | Mar 18 2021 19:05 utc | 4

Alas, more than 30 years ago it was observed in USA that it benefits a politician to seem stupid, and being genuinely stupid is even better. Why do you think power to be within Democratic Party decided to maneuver the least intellectually able contender to win in the primaries? That in itself is not necessarily bad, but on the lower levels of government, you must prove stupidity (or at least utter lack of original thinking) to advance. Now we have new generations of opportunists hiding any sign of thinking, apart from passing all the required exams in elite schools etc. Let me think of the greatness and extinction of Irish elk.

karlof1 , Mar 18 2021 19:22 utc | 8

Seej @4--

Thanks for posting Pepe's comments, some of which are in his current article I linked to on the open thread. In my comment related to Pepe's article I noted his excerpt of Chinese academic Jisi and this specific part:

"the Americans are eager to deal with problems before they are ready to improve the relationship."

That observation is consistent with that of an entity that only wants its orders obeyed and seeks no relationship or friendship with any other entity since it sees itself as Top Dog, and #1 in every way. As with the Nord Stream project, we see the Gangster mentality--Do as I say or else!

Not only does the Emperor have no clothes or much of a working memory, he's got erectile disfunction too that's well beyond the ability of Viagra to fix.

psychohistorian , Mar 18 2021 19:38 utc | 9

So here we have Blinken, Winken and Nod providing direction for failing empire

Blinken is obvious
Winken is that behind the scenes, wink, wink, nod, nod (there ain't no class structure here) type VP and
Nod is the new normal as US President.

I am sure they will try to take America to new places, yet to be dreamt of....will the brainwashed of the West follow?

About Germany and Nord Stream II.....To a degree that I am not sure of, Germany is like Japan, a fully owned colony of empire....this may be the time that the Germany nut gets cracked wide open....interesting times indeed.

Where are the details of Blinken telling China how to behave? I can hardly wait for the next act of Blinken, Winken and Nod

Mao Cheng Ji , Mar 18 2021 19:50 utc | 11

"Why, after so many bad words towards it, would China help the U.S. with solving the North Korea problem? It has zero incentive to do so."

This (as well as the Germany/NS2 thing) sounds like a rather naive view. Western headlines are for western internal consumption. And what's happening behind the scene, what incentives are offered and what threats are made in exchange for what specific actions, we simply don't know.

Norwegian , Mar 18 2021 20:00 utc | 13
Last week the French "Armed Forces Joint Reflection Circle" CRI, an independent think tank of former generals and high officers of the French forces, issued an open letter to NATO General Secretary Jens Stoltenberg in which it accused him of having acting solely in the interest of the U.S. during the development of his NATO 2030 plan.

Well, I'd like to thank the French generals, because Stoltenberg is nothing but a Quisling, who betrays his country and is "acting solely in the interest of the U.S.". Indeed.
Kapusta , Mar 18 2021 20:19 utc | 16

The Biden admin's behavior is purposeful and, frankly, entirely logical if you view it from the American perspective of global production: the US, its ruling class, and its population greatly benefits from the neocolonial expropriation of value from exploited nations, granted largely through unequal exchange.

Trump's ascendancy in the run-up to and aftermath of 2016 can be viewed as a reaction to the collapse of neoliberalism in 08-09, culminating in a policy that looked to partially revert to old-school colonialism of forcing raw material trade to the US rather than exporting the purchase of labor power beginning in the 80s. Of course, that is folly, as it was never possible for Trump to truly return productive jobs back to the US, at least not at the rates expected for global north standards of living or profit expectations. Even the 25% of productive labor in the US averages wages above global wages (i.e. even productive workers in the US are net exploiters of global south labor power). Nevertheless, in the wake of neoliberalism's collapse, standards of living now ebb and flow in the US, which means that Trump and future continuous descent into fascist policy is all but inevitable.

Biden is a reaction to Trump in that his admin represents a desperate attempt to salvage the neoliberal policies of the past 50 years since the 80s. Unfortunately for Biden, and the rest of America, there's only so many populations you can exploit before exploited productive forces become so advanced that they begin to demand higher wages, and thus profits dry up. Global wage differences even out, then import prices go up, and our American standard of living continues to drop until the sweatshops come home to roost. That won't stand and ideology shifts again and again (Biden's response to these shifts is, ironically, censorship and control).

So what does the Biden admin do? They know it will eventually come down to opening up new labor power markets (those sweet, sweet populations and natural resources of Russia are so tempting to Biden's vampiric brood) and taking down competing countries (China's rise as a consumer market is a big problem for the US). This is why Biden's behavior makes sense. If they don't put maximum pressure now, not just on Russia and China, but all potential neocolonial interests, then they won't get the chance in the future. We'll see the internal contradictions in the US give rise to even more blatant fascism (doesn't matter from whom, Trump or Biden).

[Mar 14, 2021] Something about modern day academics

Mar 14, 2021 | www.zerohedge.com

_arrow


Ohiolad 1 day ago

In the present political climate, the words "government" and "ethics" could NEVER go together in the same sentence. It's an oxymoron. Leftist politicians lie all the time as easily as they breathe.

CRM114 1 day ago (Edited)

... I was once asked to review a book on Engineering Ethics for a University course. I did some background research and discovered that the first four examples of ethical behavior resulted in all those engineers being secretly blacklisted and never being able to work in the profession again. They didn't use the book. However, the fact still remains that it still happens, in case you were wondering how all those bridges and dams that fall down passed inspection the year before.

CaMuPaSh 17 hours ago remove link

The first thing to remember is that most "professors" are frauds.

The second thing to remember is that most places that "professors" work at are frauds.

The third thing to remember is the first thing and the second thing.

We're talking here about a gender of parasite that usually Retires In Place as soon as s/he gets tenure.

Just keep taking out those student loans to support these, predominantly, left wing loonies.

Learn plumbing move to TX.

New_Meat 1 day ago remove link

"Military Intelligence"

"Jumbo Shrimp"

and now

"Government Ethics"

Back when, Jack Welch required all GE people to take "GE Ethics". Naturally, one would think that this is a good thing. But after constant interactions with GE people, we concluded that the purpose of the training was:

Faeriedust 1 day ago

That's the usual purpose of "ethics training" in both medicine and the legal profession. Been there, arranged the coursework, mailed the certificates.

AI Agent 9 hours ago remove link

Corporate ethics works the same way. President of the Company gets caught bribing the government. Office of ethics is created. Everyone down to the janitor is trained in ethics: don't steal stationary and don't stop working, even for a minute.

Meanwhile, new president is designing killer airplanes and hiding stuff from the FAA. However, saying that's wrong is an ethics violation.

It's just atheist ethics.

[Mar 14, 2021] How Partisan Politics Rots Your Brain

Mar 14, 2021 | www.zerohedge.com

Authored by David D'Amato via Libertarian Institute & Libertarianism.org,

Recent research using functional magnetic resonance imaging (fMRI) techniques is allowing us to peer into the connections, yet shrouded in mystery, between local brain activity, cognitive processes, and partisan attachment. This developing body of knowledge has revealed the profound importance of evolution in shaping the ways in which our brains process all kinds of information, in particular political information. At the center of this evolutionary journey is the importance of groups -- of being initiated and accepted into them, of aligning ourselves with them, of being loyal to them regardless of philosophical considerations. The social dynamics of group membership and participation are programmed more deeply into our brains than is abstract philosophizing. "In other words, people will go along with the group, even if the ideas oppose their own ideologies -- belonging may have more value than facts. " Because we once moved from place to place as nomads, such groups are our homes even more than any physical locations are.

We now have decades of research suggesting -- if not proving -- " the ubiquity of emotion‐​biased motivated reasoning ," reasoning that is qualitatively different from the kind operating when subjects are engaged in "cold reasoning," where the subjects lack a "strong emotional stake" in the subjects at issue. Coupled with a growing literature on the startling character and extent of political ignorance , the current state has dire implications for human freedom. The stakes are high: in their 2018 study of why and how partisanship impairs the brain's ability to process information objectively, NYU researchers Jay J. Van Bavel and Andrea Pereira note that "partisanship can alter memory, implicit evaluation, and even perceptual judgments."

One recent study, published last fall by a team from Berkeley, Stanford, and Johns Hopkins, set out to better understand how partisan biases develop in the brain. The researchers had subjects watch a series of videos, using fMRI to explore the "neural mechanisms that underlie the biased processing of real‐​world political content." The results showed that partisan team members process identical information in highly biased and motivated ways. The researchers locate this neural polarization in the part of the brain known as the dorsomedial prefrontal cortex, a region associated with understanding and formulating narratives. The study also found, perhaps unsurprisingly, that to the extent a given participant's brain activity during the videos aligned with that of the "average liberal" or "average conservative," the participant was more likely to take up that group's position .

The study accords with years of previous research showing that partisans' opinions on important social, political, and economic issues are affected by subconscious brain processes -- processes of which they're neither aware nor in control . This ought to be deeply concerning to everyone who belongs to a political team: processes are taking place in your brain, underneath or beyond the level of direct awareness, that are informing your conclusions about important social and political issues. To reflect on this for even a moment should fill anyone who aspires to critical thinking or rationality with a kind of dread, for loyalty to the team seems to be overriding the higher faculties of the mind .

But, the authors are careful to note, it's important not to interpret these results as pointing to some kind of determinism, whereby we can't choose how to think or what we believe. As one of of the study's authors, Stanford psychologist Jamil Zaki, says, "Critically, these differences do not imply that people are hardwired to disagree." Rather, these neural pathways seem to be carved largely by the kinds and sources of the media we consume . From the data yielded by such research, among many other similar studies, a picture begins to emerge of partisanship as a kind of mind poisoning , an infection that leads to serious and, importantly, measurable cognitive impairment . Evidence suggests that, under the influence of partisanship, we can't even understand our own thoughts and opinions.

In another important, recent experiment, researchers wanted to understand the relative accuracy of participants' introspective constructs. The researchers set out to gauge people's ability to understand their own choices, to see clearly "the elements of internal argumentation that lead to [their] choices." In particular, the researchers wanted to know how subjects would deal with choices that had been manipulated -- that is, whether subjects would "notice mismatches between their intended choice and the outcome they are presented with." Would subjects recognize that something was off? If they failed to notice the manipulation, would they offer justifications for choices they had not even made? The assumption is that subjects who fail to notice the mismatches must not really understand the reasons for their choices or "the internal processes leading to a moral or political judgment."

The results revealed a conspicuous "introspective blindness to the internal processes leading to a moral or political judgment." People didn't seem to understand why they had made the decisions they'd made (or had not made), though some exhibited what the researchers call " unconscious detection of self‐​deception " -- these subjects were unable to detect the manipulations of their answers, but they did register lower confidence in the manipulated choices, which the authors suggest points to "the existence of a neural mechanism unconsciously monitoring our own thoughts."

Once one has chosen and joined a team, she has very little control over her own thoughts. When they are introduced, new data are distorted, misinterpreted, or discarded based on their consistency with what we may describe as a program running in the background: partisanship leads the team member into a cognitive position of unconscious self‐​deception . Few of us, if fully understanding this phenomenon, would choose it for themselves -- at least that's the hope of many who study this area. As the authors observe, "reflecting on our beliefs may help to develop free societies." They suggest that if citizens better understood the brain mechanics of the cognitive impairment and self‐​deception brought on by partisanship, they'd be positioned to make better decisions. Research has shown that " reflecting on how we make decisions leads to better decisions ."

Similar research on self‐​deception in politics has also confirmed the presence of the Dunning‐​Kruger effect (to summarize, people think they know a lot more than they actually do). Further, the effect is exaggerated within the context of politics, with low‐​knowledge participants describing themselves as even more knowledgeable than usual once partisanship is made a conspicuous factor . Vitor Geraldi Haase and Isabella Starling‐​Alves posit that the kind of self‐​deception that is such "a major characteristic of political partisanship probably evolved as an evolutionary adaptive strategy to deal with the intragroup‐​extragroup dynamics of human evolution." Objective truth, meaning roughly an accurate model of reality, is not important, at least not anywhere near as important, as conformity and indeed submission, which we may associate with social reality .

Whatever its flaws , evolutionary psychology offers us several promising leads on the question of just why the brain isn't able to perform on partisanship. This notion of social reality is an important clue. At this juncture, it is important to underline the fact that when we speak of partisanship, we are not speaking of ideology; the relationship between partisan identification and political ideology is complicated, the connection between the two not particularly strong. Ideologues tend to think systematically, and the philosophical contents of their beliefs are deeply important to them. What is important to the partisan is not what she believes, but that she aligns her beliefs with those of her team or in-group -- or else, as may be the case, that she is loyal to and supportive of the party group despite any real or perceived ideological nonconcurrences.

Americans tend to vastly overestimate the differences in political ideology and policy preferences between Democrats and Republicans. In fact, most Americans are not at all ideological , can't describe ideologies accurately ( as their proponents would describe them ), and have almost no information on either the history of ideas or the empirical evidence that bears on particular political or policy questions. Interestingly, partisanship doesn't necessarily seem to be about politics in the normative or philosophical sense, as "people place party loyalty over policy, and even over truth ." There are actually relatively weak correlations between partisan identity and concrete policy preferences. "[P]artisan affect is inconsistently (and perhaps artifactually) founded in policy attitudes."

Indeed, strong partisanship is necessarily an impediment to ideological thinking insofar as ideology is predicated on an integrated and consistent approach to policy questions, as against the blind, team‐​rooting approach associated in the literature with partisanship. Ideological people, whatever their flaws, hold political actors and government bodies to account. Partisans change positions readily and shamelessly, depending on anything from who is living in the White House, to the vagaries of party leaders, to what is perceived as popular at the moment. Further, individual Americans' political opinions are remarkably unstable over time, vacillating between glaring contradictions, relying on a confused amalgam of elite opinions. Partisanship as we know it rather seems to be a holdover from humankind's history of tribal loyalty , with " selective pressures hav[ing] sculpted human minds to be tribal ." That is, evolution selected for just the kinds of cognitive biases we find in partisans on both sides today (importantly, neither "team" is immune).

A recent paper published by the American Psychological Association suggests that from a cognitive and psychoneurological standpoint, partisans of the left and right are much more like each other than they are like nonpartisans. As study co‐​author Leor Zmigrod writes , "Regardless of the direction and content of their political beliefs, extreme partisans had a similar cognitive profile." Specifically, partisans of all stripes show lower levels of cognitive flexibility; importantly, even when processing information that has no political character, they are more dogmatic, less adaptable , and less able to complete tasks that require an " ability to adapt to novel or changing environments and a capacity to switch between modes of thinking ."

Partisanship quite literally makes one dumb -- or is it that dumb people are just more likely to be committed partisans? Zmigrod is careful to point out that the study can't give us the answer to that question, that we would need longitudinal studies in order to better understand the causal direction and causal phenomena at play. As soon as partisanship is introduced, as soon as a question mentions a politician or political party, subjects are unable to accurately assess basic facts . Indeed, remarkably, tinging a question with a political shade renders many subjects unable to answer a simple question even when they are given the answer . Relatedly, studies have shown that one's political affiliations even affect her ability to perform basic math : given an operation that yields a statistic contradicting a subject's partisan view, the subject will tend to question the result rather than updating based on the evidence or attempting to reconcile the new information with her politics.

In a groundbreaking study published last summer , a team of researchers led by the University of Exeter's Darren Schreiber attempted to address the lack of brain imaging research specifically aimed at better understanding nonpartisans , a group that has been neglected as almost all such research has focused on the differences between the brains of partisans of the left and right. The study found that nonpartisans' brains are different from those of their brainwashed brethren, particularly in " regions that are typically involved in social cognition. "

It may be that the next stage in human evolution will involve rewiring our brains to accept the fact that current groups are artificially and arbitrarily defined -- that all human beings are one people. For just as there is harmful, toxic tribalism, there is also socially beneficial, cooperative, cosmopolitanism. As social policy expert Elizabeth A. Segal writes , "Ultimately our goal should be to build the tribe we all belong to: that of humanity." Libertarians take this lesson quite seriously, for we tend to see ourselves as part of a common global community of connected individuals who are perfectly capable of dealing with one another through peaceful and mutually‐​beneficial interactions. We celebrate social, cultural, religious, and linguistic differences as the spice of life rather than see them as dividing lines or impediments to willing collaboration. If we can understand and think clearly through partisanship, we can begin to build a freer world based not on arbitrary divisions and compromised reasoning, but on mutual respect and renewed emphasis on rigorous critical thinking.

[Mar 14, 2021] Disposable People by Sandwichman

Mar 04, 2021 | angrybearblog.com

Disposable people are indispensable. Who else would fight the wars? Who would preach? Who would short derivatives? Who would go to court and argue both sides? Who would legislate? Who would sell red hots at the old ball game?

For too long disposable people have been misrepresented as destitute, homeless, unemployed, or at best precariously employed. True, the destitute, the homeless, the unemployed and the precarious are indeed treated as disposable but most disposable people pursue respectable professions, wear fashionable clothes, reside in nice houses, and keep up with the Jones.

Disposable people are defined by what they do not produce. They do not grow food. They do not build shelters. They do not make clothes. They also do not make the tractors used to grow food, the tools to build shelters or the equipment to make clothes.

Although disposable people do not produce necessities what they do is not unnecessary. It is simply that the services they provide are not spontaneously demanded as soon as one acquires a bit of additional income. One is unlikely, however, to engage the services or purchase the goods produced by disposable people unless one is in possession of disposable income. Disposable income is the basis of disposable people. Conversely, disposable people are the foundation of disposable income.

[Mar 08, 2021] Change we can believe in

Mar 08, 2021 | www.marketwatch.com

Shoe shop chain Shoe Zone replaces Peter Foot with Terry Boot as finance director. It's not a joke.

[Mar 08, 2021] Tesla down 31%? Not a problem I will use the dividends to offset my losses. Oh wait!

Mar 08, 2021 | www.zerohedge.com


2 play_arrow


bentaxle 54 minutes ago

Tesla down 31%? Not a problem I will use the dividends to offset my losses. Oh wait!

BigJJ 13 minutes ago

I've never understood how Tesla could possibly make money given all the infrastructure they had to install just to sell shoddily thrown together rusty cars that are useless when the grid crashes.

Sound of the Suburbs 41 minutes ago (Edited)

...What was the ponzi scheme of inflated asset prices that collapsed in 2008?

El Hosel 1 hour ago (Edited)

Clearly "It's different this time", now that everybody knows "stocks only go up"...

[Mar 06, 2021] The USA will first wither, then maybe collapse. Either way, it will be chaotic

Mar 06, 2021 | www.moonofalabama.org

vk , Mar 5 2021 1:05 utc | 58

I've already expressed my opinion on the eventual fall of the American Empire, so I'll be more succinct here:

I'm certain the USA won't collapse like the USSR. In fact, the USSR's fall is kinda unique in History, considering its relative importance and size. Very unlikely such a gracious and peaceful collapse of such a military superpower ever repeats in Human History.

But there's a reason the USSR fell as easily and graciously as it did: its centralized system. The USSR was the CPSU; once Gorbachev humiliated the Party and destroyed it, he automatically destroyed the USSR. What followed was a neoliberal genocide by Boris Yeltsin, but that's not on the Soviet socialist system (it could have reformed successfully and become a China with more natural resources and a better military).

The USA's system is capitalism. Capitalism is not a centralized system; instead, it is governed by a confederation of capitalists, who partition between themselves the different sectors of the economy. This system has a necessarily diffused administrative and command architecture. It's also highly cannibalistic: those capitalist hate each other and try to devour each other constantly, and they constantly do so successfully - hence the rarity of capitalist very long dynasties. The technological evolution/revolutions of capitalism also expand this confederation of capitalists because they create new sectors of the economy while destroying others, which makes the system even more decentralized and chaotic.

That's why I think the USA will first wither, then maybe collapse. Either way, it will be chaotic, possibly with high levels of destruction and civil wars - what we call the "Mad Max Scenario"/Roman Empire scenario. The chances of the USA going down with a world war are also great, as capitalism is a very virulent system: the British Empire went out with a bang (the two WWs it caused).

A few factors are given in my opinion:

1) the USA cannot be seriously considered a true world empire without a solid Eurasian foothold. That means if it loses NATO (i.e. the European Peninsula), it loses its status as a world empire (it would technically have Israel and the Arabian Peninsula, but they don't have the military architecture on NATO's degree) as Japan is an island too near China, Australia is a distant continent, India is in an existential crisis (neutrality or become an American puppet?) and SE Asia is a true zone in dispute;

2) the USA cannot be considered a world empire without the Dollar Standard. Without the Dollar Standard, you can still retain the status by being the industrial superpower, but that post seems to be in China's hands now. Of all the factors that one could mention as being single-handedly capable of bringing the American Empire down in a collapse-style process, the end of the Dollar Standard is the only one I can think of in the social sphere (i.e. not taking into account natural catastrophes such as a giant meteor);

3) the USA cannot be considered a world empire if it doesn't dominate the Seven Seas. Luckily, it still does (and that's an important base for the Dollar Standard), but it's important to highlight the fact that at least China is building up its naval capabilities, to a point of being able at least to be the sovereign over the South China Sea (which opens up a bridge to the junction between the Pacific and the Indian). Russia also seems to be decided to fight to the death for its Tartus base in Syria (its only warm waters port) and has turned back the Black Sea into its particular lake, and is on a comfortable pace to do the same with the Arctic (while it was frozen, it belonged to whoever dominated the North Atlantic; unfrozen, it belongs to whoever has the largest and best fleet of icebreakers);

4) The USA cannot be considered an empire if it doesn't dominate the entire American Continent. That means that, at the moment the USA loses Brazil (which commands Latin America sans Mexico and the Caribbean), it will no longer be an empire. Yes, it would still have Japan and Australia (and the rest of Oceania), but that would be like the Byzantine Empire without Syria and Egypt: just a glorified Greek kingdom that still calls itself an empire.

Note that none of these must be the cause: they may be the consequence of internal strife and civil war, followed by an economic collapse from within. Remember: 2008 happened in the US territory, at the heart of the Empire (Wall Street), not in some random Arab banana republic or some corrupt artificial Latin America narco-state.

And 2008 definitely wasn't the last big crisis of the capitalist world. Any long term prediction of any capitalist country that doesn't take into account crises is an invalid one.

Dr. George W Oprisko , Mar 5 2021 1:57 utc | 60

Who says there will be a collapse...????

I DO !!

If you take those blinders off... it's all around you!

It's gone to the point the country cannot properly feed the National Guard Troops guarding the Capitol!

Any time... I expect to hear Trump offering to use the kitchen(s) at his hotel(s) to feed them... at his expense...

Look again at those Iranian missiles hitting that US base in Iraq.... Where were the interceptors???

There weren't any!!

Then there is the Littoral Combat Ship, Zumwalt Destroyer, F-35, Abrams Tank, Humvee, AR-15 (notable for it's jams).

Exactly how old are US frontline aircraft??? B-52, B-1, B-2, F-16, F-15, F-18... all designed in 50s or 60s....

Arleigh Burke Destroyer... 70s...

Ditto with the subs...

Wake up!

INDY

[Mar 06, 2021] I argue the biggest challenge to US power in coming few years will not come from outside powers but rather will come from inside. US has become wildly divided between two ideologic poles that has a created a lasting effect on her interior security. As has become more and more visible, this newly felt internal insecurity is due to inequality, poverty, and government's incompetence to provide security and social services at a minimum level.

Mar 06, 2021 | www.moonofalabama.org

kooshy , Mar 5 2021 0:23 utc | 54

I argue the biggest challenge to US power in coming few years will not come from outside powers but rather will come from inside. US has become wildly divided between two ideologic poles that has a created a lasting effect on her interior security. As has become more and more visible, this newly felt internal insecurity is due to inequality, poverty, and government's incompetence to provide security and social services at a minimum level. This internal insecurity is a collective mass insecurity by the American citizenry knowing that their government is incompetent to handle the next crises, this feeling now resides deep in every American's bone, including the ruling elites.

This internal insecurity, incompetence crises, has made US regime more concerned and insecure from her own internal affairs and less capable to address her major external policy challenges. Obviously failing governments that can not provide security, economic, justice and health services to their citizenry they blame their opposition and foreign powers. This is exactly what is happening in US now and that is exactly what one would constantly hear from government propaganda echo chambers of US media. US is in deep slippery slope internal crises that she cannot avoid even if Jesus Christ get elected and becomes president. This is a major reason that she has become incompetent to implement her external policies in likes of Belarus, Iran, Venezuela, etc.

[Mar 06, 2021] Who says that there will be a collapse? There will be slow decline, because the US is the most resourceful country in the world with the best geopolitical position in the world, best strategic depth, and the largest alliance network. The US dollar still remains 62 % of world currency reserves

Mar 06, 2021 | www.moonofalabama.org

Passer by , Mar 4 2021 20:49 utc | 21

>>We can not yet know what, at what point will cause the collapse of U.S. hegemony. But we are coming more near to it.

Who says that there will be a collapse? There will be slow decline imo, because the US is the most resourceful country in the world with the best geopolitical position in the world, best strategic depth, and the largest alliance network. The US dollar still remains 62 % of world currency reserves, although it declined in payments.

The US was able to print trillions of dollars, and thus register better economic growth rates than many others. This year, it expects growth of 6 - 7 %, one percent less than China. It registered far better economic performance during the Covid Pandemic than many other countries.

The US is the most influential Empire the world has seen since 19th century Britain.

It has lots of power - see where the UN and the IMF are located.

This thing can not "collapse", unless there is internal separatist conflict, which i see as unlikely, much more likely is a One Party Democratic Party State consolidating power. Just as it happened in California.

And collapse can not happen via the dollar either, rather a slow decline too. There is too much inertion behind the dollar. This money does not have somewhere else to go. No capital markets exist to replace US treasuries either.

It may take 20 years before the US becomes more like "one big power among many". But it will still be influential power.

But i can certainly say that: US influecne will be declining. And the US dollar will be declining in the long run too. Countries that rapidly gain in per capita GDP see their currencies rise. So i would invest in CNY, Indian rupee and ASEAN currencies. Stay away from the US dollar, as all of that debt and stimulus means that there will be long term inflation and a long term drop in the dollar value.

Another point that should be mentioned is the military decline of the US. The long wars during the last 20 years had very negative effect on its equipment. And the rest of the world is catching up, and even becoming better (in missiles especially), making carrier groups more and more obsolete, and making overseas US bases big fat targets. Modern weapons guarantee a blood bath for the aggressor in peer to peer conflict.

Both Trump and Blinken acknowledged the military weakness of the US, claiming no more wars.

So there is some weakening but the US will remain a factor just like Britain was a factor, using divide and rule tactics and offshore balancing. The US role will be like the one of Britain in Europe. In this sense, only a United Eurasia (like the EU of Europe, but for the whole of Eurasia) can bring down the US for good.


psychohistorian , Mar 4 2021 21:05 utc | 23

@ Passer by | Mar 4 2021 20:49 utc | 21 who wrote
"
And collapse can not happen via the dollar either, rather a slow decline too. There is too much inertion behind the dollar. This money does not have somewhere else to go. No capital markets exist to replace US treasuries either.
"
I disagree with your arguments.

I think the decline will be slow then fast and we are approaching the fast portion
The capital market you write of has a large fictitious part that represents the inflation in dollars into private pockets since 2008. The capital market will shrink significantly with financial collapse but unfortunately the elite have their "capital" in secure positions.

In support of my arguments is the link below that describes the ongoing build up of public banking world wide.

Public Banks and Covid 19 - Combatting the Pandemic with Public Finance

It is not a matter of if but when. The when is defined as foreign countries stopping buying US Treasuries (which is occurring) along with a world wide financial crash which exists in all but the reporting of such.

Passer by , Mar 4 2021 21:25 utc | 26

Posted by: psychohistorian | Mar 4 2021 21:05 utc | 23

>>It is not a matter of if but when. The when is defined as foreign countries stopping buying US Treasuries (which is occurring) along with a world wide financial crash which exists in all but the reporting of such.

Yes, it occuring for treasuries, but slowly, see chinese reserves, still staying above 1 billion. Now foreign investors are a minority. The US dollar though still remains nearly two thirds of world currency reserves.

After seeing the Covid crisis, i became more sceptical of collapse theories. They can print all the money they want to fix problems in the system. The only potential problem is inflation. And the bigger the currency, the less the inflation.

When the US prints, it gains from it, as it steals billions from the rest of the world via low inflation. So via this method it can get itself out from a deep whole, as you saw during the pandemic.

Trillions of dollars were printed, but US long term debt by 2030 increased only by 9 %. How is this possible? Because interest rates are low.

You need to replace the dollar in order to stop the US from saving itself on the back of the rest of the planet.

After 2030, you may have a world with basket of currencies augmented by crypto and gold. And US debts will become too high. Then it will get hard for the US to print without big inflation.

William Gruff , Mar 4 2021 21:31 utc | 28

I am in agreement with psychohistorian @23 here. When the US dollar starts losing its golden glow as a secure investment and reserve currency then trillions of dollars will flood home. It will become a race to unload dollars so as to not be left holding the hot potato.

Well, the US$ is already losing its attraction, but there will be a tipping point beyond which the race starts. That tipping point is probably closer than many people expect.

The US will still be a somewhat powerful country, but only a regional power. The days of global hegemony will end rather quickly. There will be no more super carriers or nuke subs and the F-35 will be the last super plane that the US ever fields. Allies like South Korea and Japan will flip to neutrality without hesitation.

[Mar 06, 2021] While both China and the USA are neoliberal there is some notable difference in policies

Mar 06, 2021 | www.moonofalabama.org

Mao Cheng Ji , Mar 4 2021 20:08 utc | 16

"But that China did and does much better than the U.S. to meet its people's needs and hope is not a lie."

The difference is, it seems to me, that the Chinese establishment pursue national interests (as they perceive them), while the US liberals pursue interests of global financial capital (a-la Soros Fund Management and suchlike). Obviously people's needs and hopes are better aligned with the former M.O.

karlof1 , Mar 4 2021 20:22 utc | 19

Mao Cheng Ji @16--

Aside from the differences I've written about; when it comes to China's "establishment," the key difference is they arose from the great mass of Chinese and weren't born into what in the West is clearly seen as the Ruling Class--The Monetary Nobility if you will. China's government when compared to the USA's is absolutely Of the People, By the People, and For the People--a reality the Outlaw US Empire cannot change unless it morphs into what it proclaims itself to be.

[Mar 06, 2021] Nothing can depose neoliberalism short of obliterating the financial centers of America and the City in London, in simultaneous strikes

Mar 06, 2021 | www.moonofalabama.org

CarlD , Mar 6 2021 0:57 utc | 64

Short of obliterating the financial centers of America and the City in London, in simultaneous strikes,
I cannot foresee any change in the direction our financiers are taking the world.

Short of taking out the Rothschilds, the Rockefellers and the Soroses of this world, nothing will change.

The German financiers can be taken out in a less dramatic fashion. Individually, collectively but they must be annihilated also.

The financial prison of Humanity must be blown up.

If not my sons and yours will revert to the serfdom of yore.

[Mar 06, 2021] There seems to be an ongoing trend for countries around the globe to take greater control of their own natural resources.

Mar 06, 2021 | www.moonofalabama.org

farm ecologist , Mar 5 2021 16:33 utc | 9

Some good news. There seems to be an ongoing trend for countries around the globe to take greater control of their own natural resources.

A report published Thursday by risk consultancy Verisk Maplecroft indicated that over the course of 2020, 34 countries had seen a "significant increase" in resource nationalism, with the pandemic exacerbating an existing trend toward government intervention. . Analysts indicated that "Issues around income distribution, poverty, access to education and healthcare -- to name but a few -- can trigger socio-political processes that demand more from the state" . Imagine that, countries like Bolivia using their natural resources to improve the lot of the average citizen.

This trend towards nationalizing resources, however, could spell danger for commodities and decrease profits of the resource extraction industry.

Couldn't happen to a nicer bunch of folks,
if you ask me.

[Mar 06, 2021] The age of decadence can be described as "bread and circuses," or for these times "drugs and internet porn/reality TV". It is characterised by exploding wealth disparity, excessive materialism and status signalling, overextended militaries

Mar 06, 2021 | peakoilbarrel.com

Off Topic Finish: Rise and Fall

There is a much-cited essay from 1976 by General Sir John Glubb, a British diplomat called The Fate of Empires and Search for Survival in which he describes repeated cycles that empires throughout history appear to share. He described how most last about 250 years, or ten generations, and follow six stages: the age of the pioneers (also called the outburst), the age of commerce, the age of conquests, the age of affluence, the age of intellect, and the age of decadence.

From my perspective, admittedly with a statistically meaningless sample size of one, we are in the latter stages of some kind of near global empire. I'm not sure what to call it, possibly the western empire or the industrial empire but the corporation empire might be most fitting (and not because we're collectively getting paunchier). It is rather nebulous because presently there isn't direct control by one country over many other states but there is no denying that the business world, and I'd include crime and corruption enterprises as a significant part of that, has an inordinate influence over global politics. If so then I have lived through the last part of the age of affluence, most of the age of intellect and am currently experiencing a transition to the age of decadence. From Glubb's descriptions the age I'd choose to live would be that of intellect, so I should consider myself lucky. It is characterised by: excess wealth that allows concentration on knowledge acquisition and acquiring degrees and certificates for there own sake, rapid expansion of universities often with endowments from the elites, increased travel and spreading multiculturism.

He has a quote concerning the age of intellect that particularly encapsulates the delusions of the BAU, growth-at-all-costs, techno-copian crowd:

Perhaps the most dangerous by-product of the Age of Intellect is the unconscious growth of the idea that the human brain can solve the problems of the world. Even on the low level of practical affairs this is patently untrue. Any small human activity, the local bowls club or the ladies' luncheon club, requires for its survival a measure of self-sacrifice and service on the part of the members.

This is not as disparaging as some opinions of John Gray, who is often thought of as the philosopher for a fading civilisation, such as:

Like Christianity in the past, the modern cult of science lives on the hope of miracles. But to think that science can transform the human lot is to believe in magic

When a more balanced world emerges, it will be after many crises, and after our present utopian faith in technology has been consigned to the rubbish heap of history .

Actually using "when" rather than "if" makes this one of his more upbeat statements'.

The age of decadence holds much less appeal, it can be described as "bread and circuses," or for these times "drugs and internet porn/reality TV" might be more apt. It is characterised by exploding wealth disparity, excessive materialism and status signalling, overextended militaries (and these days I'd include militarised police forces in that), decline of religion (does American neo-evangelism a religion or a political movement), increased reliance on state intervention at all levels, currency debasement and overt sexual prurience.

There are other approaches to studying how societies, civilisations and empires rise, evolve and fall. Aspects of these studies have names: cliodynamics, environmental determinism, ecological overshoot analysis, etc. with proponents including Diamond, Costanza, Bardi, Lewis, Middleton, Turchin, Tainter, Homer-Dixon, Acemoglu / Robinson, etc. The various theories of collapse all seem biased, to some extent, by the political and moral standpoints or specialist fields of the proponents, not least Glubb. Recently analysis has been converging on a non-linear, dynamic system approach that, in theory, would encapsulate all the features proposed by those authors, e.g. marginal energy gains, marginal complexity costs, property rights and trustworthiness of institutions, population limits, resource depletion, environmental degradation, natural disasters, invasion, novel parasites etc.

As I understand it the system dynamics explanation goes something like as follows. The similar cyclic nature of societies might imply some common fundamental features in their systems. That they have been able to endure despite unpredictable and erratic exogenous, until suddenly they can't, implies that it is those features that determine the life time of the society and once the resilience is lost any sufficiently large knock will cause the collapse. A key indicator that the end is nigh is excessive wealth disparity and a rising centralised hegemony, though I think these are consequences rather than causes, so artificially reversing them would not necessarily prevent a decline to collapse. I haven't seen much on how population growth versus key resource depletion affects cycles (I'd say energy supply has been central for all civilisations and capacity for waste disposal as important for all societies, and waste disposal capacity needs to be included as a possible limiting resource). The best that I can suggest is that these limit the maximum size of a civilisation and, a little like peak oil but more asymmetric, the growth and decay rates then adjust to give a typical life span.

All empires are civilisations but the reverse need not be true (and not all societies are civilisations). Large societies rarely completely collapse – they tend to devolve and simplify, whereas empires can disappear completely. In either case, however, the contraction phases might be rather unpleasant for those experiencing them. A recent study by Centre for the Study of Existential (CSER) at the University of Cambridge concluded that average duration for civilisations has been just over 300 years, but with a wide distribution and fat tail. As a subset empires will have more common features than civilisations in general, and therefore more similar life cycles, which may explain the differences from Glubb's work, but equally his study was rather sparse on quantifiable data.

Most proposed solutions to our ills strike me as treating the symptoms and not the disease; if the ultimate cause is an intrinsic property of large societies then I'm at a loss as to what can be done. The best that may be hoped for is to embrace a collapse as an opportunity for rebirth and regeneration. I've seen reports that this is Bardi's approach, though I have not yet read much from him directly. That is easy to say in my newly vaccinated state, in a centrally heated home and looking forward to a pleasant meal; probably less easy to say and still less to put into practice whilst shivering with cold and in fear, and wondering where your families' next meal is coming from.

It's always dodgy to say, "this time it's different", but there are some notable features now. Firstly the earth is full, there's nowhere with sparse population and under-exploited resources left to move to in order to leave the wreckage behind after a crash. Only in the last ten generations has there been significant, net overall growth in population, consumption, energy and waste production, GDP etc.; at the same time we are now actively reducing the land and resource available to us. Previous collapses and any subsequent recovery happened in the Holocene, a period of unusually stable climate that we may now have disrupted irreversibly in the anthropocene. Some previous collapses have been associated with over exploitation of one or two key resources; at the moment it is difficult to find one without some supply threat from depletion, geopolitical disruption, or excess costs. We do not live in harmony with nature and rely on industrial society functioning at fairly high levels to maintain the balance, for example: vaccines, insulin and antibiotics; fertilizer production; infrastructure maintenance; intensive farming and food distribution; civil and national conflict control; cross border humanitarian agencies etc.

As a footnote the CSER website has many interesting open source papers and videos that I haven't found elsewhere, although it is heavy on AI "Terminator" or GE "Planet of the Apes" type threats, highly academic (lots of attempted points scoring in the Q&As) and often oriented towards the establishment with clear faith in progress, assumed continuation of capitalism, government structures, institutions etc., so just the types Gray and Glubb were commenting about.

[Mar 06, 2021] Value investor John Rogers sees an end to Big Tech's stock market dominance

Mar 06, 2021 | finance.yahoo.com

Michael Mackenzie and James Fontanella-Khan in New York Fri, March 5, 2021, 7:00 PM

The veteran value investor John Rogers predicted the US is headed for a repeat of the "roaring twenties" a century ago that will finally encourage investors to dump tech stocks in favour of companies more sensitive to the economy. The founder of Ariel Investments told the Financial Times in an interview that value investing "dinosaurs" like him stood to win as higher economic growth and rising interest rates took the air out of some of the hottest stocks of recent years. The US central bank is "overly optimistic that they can keep inflation under control", he said, and higher bond market interest rates would reduce the value of future earnings for highly popular growth stocks such as tech companies and for the kinds of speculative companies coming to market in initial public offerings or via deals with Spacs.

[Mar 05, 2021] America ranks among most "problem-ridden" countries in the World: The USA has far and away the highest rates of poverty in the developed world.

"The average American family has a net worth of $102,700, according to the most recent data from Federal Reserve's 2016 Survey of Consumer Finances."
Mar 05, 2021 | www.zerohedge.com

Chief Joesph 10 hours ago

There are 18.4 million millionaires in the U.S. and 48.6 million people in poverty. The U.S. has far and away the highest rates of poverty in the developed world. In addition, the extent of U.S. income and wealth inequality also tends to be extreme when compared to other industrialized countries. It's glaring proof that Capitalism doesn't work, and never has. And there is no such thing as equality in Capitalism, because, in capitalistic philosophy, there is only predators and prey. If Capitalism actually worked, we wouldn't be fighting over the same old problems today, as we were in the 1870's to 1890's,during the age of "Robber Barons", (that Mark Twain once coined "the Gilded Age Elites"), when we had lots of riots, strikes, and mini civil wars then, about being compensated properly from the wealthy elites, The countries that are proactive in terms of social policies that ensure few people will fall below a minimum floor level, generally have much lower rates of poverty than those countries that take a more laissez-faire approach, (i.e. like the U.S.).

Chief Joesph 7 hours ago remove link

There are plenty of links and books on this subject, but try this one for starters: https://link.springer.com/article/10.1007%2Fs11205-019-02244-3 .

What it basically says: America ranks among most "problem-ridden" countries in the World. The study compared countries based on social problems ranked the U.S. 38th of 40 countries, between Latvia and Uruguay, just above Trinidad and Tobago.

Researchers also took into consideration the social problems of short life expectancy, infant mortality, obesity health issues, homicides, teen pregnancy, and prison rates, and found that big income gaps between rich and poor correlates with those problems too.

A book worth reading would be this too: https://confrontingpoverty.org/research/confronting-poverty-economic-hardship-in-the-united-states/

curiousweb 11 hours ago

So rich and 'untouchable' they don't even seem to care to pretend to follow any of their own rules any more.

[Mar 01, 2021] Neoliberalism- A Critical Reader by Saad-Filho, Alfredo, Johnston, Deborah, Saad-Filho

Mar 01, 2021 | www.amazon.com

It is impossible to define neoliberalism purely theoretically, for several reasons. First, methodologically, although neoliberal experiences share important commonalities (explained in what follows), neoliberalism is not a mode of production. Consequently, these experiences do not necessarily include a clearly defined set of invariant features, as may be expected in studies of 'feudalism" or 'capitalism", for example. Neoliberalism straddles a wide range of social, political and economic phenomena at different levels of complexity. Some of these are highly abstract, for example the growing power of finance or the debasement of democracy, while others are relatively concrete, such as privatisation or the relationship between foreign states and local non-governmental organisations (NGOs). Nevertheless, it is not difficult to recognise the beast when it trespasses into new territories, tramples upon the poor, undermines rights and entitlements, and defeats resistance, through a combination of domestic political, economic, legal, ideological and media pressures, backed up by international blackmail and military force if necessary.

Second, as is argued in Chapters 7 and 9., neoliberalism is inseparable from imperialism and globalisation. In the conventional (or mainstream) discourse, imperialism is either absent or, more recently, proudly presented as the 'American Burden': to civilise the world and bring to all the benediction of the Holy Trinity, the green-faced Lord Dollar and its deputies and occasional rivals, Holy Euro and Saint Yen. New' converts win a refurbished international airport, one brand-new branch of McDonald's, two luxury hotels, 3,000 NGOs and one US military base. This offer cannot be refused - or else.- In turn, globalisation is generally presented as an inescapable, inexorable and benevolent process leading to greater competition, welfare improvements and the spread of democracy around the world. In reality, however, the so-called process of globalisation - to the extent that it actually exists (see Saad-Filho 2003) - is merely the international face of neoliberalism: a worldwide strategy of accumulation and social discipline that doubles up as an imperialist project, spearheaded by the alliance between the US ruling class and locally dominant capitalist coalitions. This ambitious power project centred on neoliberalism at home and imperial globalism abroad is implemented by diverse social and economic political alliances in each country, but the interests of local finance and the US ruling class, itself dominated by finance, are normally hegemonic.

Third, historical analysis of neoliberalism requires a multi-level approach. The roots of neoliberalism are long and varied, and its emergence cannot be dated precisely. As Chapters я to 6 show, neoliberalism amalgamates insights from a range of sources, including Adam Smith, neoclassical economics, the Austrian critique of Keynesianism and Soviet-style socialism, monetarism and its new classical and 'supply-side' offspring. Their influence increased by leaps and bounds with the breakdown of the postwar order: the end of the 'golden age' of rapid worldwide growth in the late 1960s, the collapse of the Bretton Woods system in the early 1970s, the erosion of the so-called 'Keynesian compromise' in the rich countries in the mid 1970s, the meltdown of the Soviet bloc in the 1980s and the implosion of developmental alternatives in the poor countries, especially after balance of payments crises in the 1980s and 1990s. Chapters 1 and 2 show that the collapse of the alternatives provided space for the synthesis between conservative view's and the interests of the US elite and their minions. The cauldron was provided by the aggressive populist conservatism of Ronald Reagan and Margaret Thatcher, and the broth was tendered by finance - that had become hegemonic worldwide after the 'coup- led by the chairman of the US Federal Reserve System, Paul Volcker, in 1979.3 By persuasion and by force, neoliberalism spread everywhere.

It is, however, important to avoid excessively linear accounts of the rise of neoliberalism. For example, in the United Kingdom, key elements of Thatcher's monetarist economic platform had been imposed by the previous Labour government; she only expanded them and gave them a compelling rationale. There was also an irresolvable tension between the puritanical claims made by milk-snatching Thatcher, Reagan's ventriloquists, and the intellectual harlots peddling their wares around the US Imperial Court, and the political practice of these neoliberal administrations. For example, Reagan's 'voodoo economics' (in the words of his deputy, George Bush pere) would have been unacceptable to the guardians of the scriptures. History shows that it is easier to impose pristine economic and political models in the dominions, because at home the strength of conflicting interests and the messy realities of limited power do not allow history to start anew on demand. This is best illustrated in Chapter 14's discussion of the asymmetric application of agrarian liberalism. It is relatively easy to parachute well-paid advisers into distant and unimportant countries, where Lord Dollar can easily bend the natives' will. This purifying ritual will make them almost civilised. However, should the ignorant masses and their brutal leaders reject dollar diplomacy and be reluctant to play by the (new) rules, weapons of mass destruction are available and they can be deployed increasingly effectively from great distances.

Although every country is different, and historical analysis can reveal remarkably rich details, the overall picture is clear. Tire most basic feature of neoliberalism is the systematic use of state power to impose (financial) market imperatives, in a domestic process that is replicated internationally by 'globalisation'. As Chapters 22. 23 and 30 argue in the cases of the United States, the United Kingdom and east and south-east Asia respectively, neoliberalism is a particular organisation of capitalism, which has evolved to protect capital(ism) and to reduce the power of labour. This is achieved by means of social, economic and political transformations imposed by internal forces as well as external pressure. The internal forces include the coalition between financial interests, leading industrialists, traders and exporters, media barons, big landowners, local political chieftains, the top echelons of the civil service and the military, and their intellectual and political proxies. These groups are closely connected with 'global' ideologies emanating from the centre, and they tend to adapt swiftly to the demands beamed from the metropolis.

Their efforts have led to a significant worldwide shift in power relations away from the majority. Corporate power has increased, wiiile finance has acquired unrivalled influence, and the political spectrum has shifted towards the right. Left parties and mass organisations have imploded, while trade unions have been muzzled or disabled by unemployment. Forms of external pressure have included the diffusion of Western culture and ideology, foreign support for state and civil society institutions peddling neoliberal values, the shameless use of foreign aid, debt relief and balance of payments support to promote the neoliberal programme, and diplomatic pressure, political unrest and military intervention when necessary. For example, Chapter 24 shows how' the ruling economic and political forces in the European Union have instrumentalised the process of integration to ensure the hegemony of neoliberalism. This account is complemented by Chapter 2n's analysis of the segmentation of Eastern Europe into countries that are being drawn into a Western European-stvle neoliberalism and others that are following Russia's business oligarchy model. In sum, neoliberalism is everywhere both the outcome and the arena of social conflicts. It sets the political and economic agenda, limits the possible outcomes, biases expectations, and imposes urgent tasks on those challenging its assumptions, methods and consequences.

In the meantime, neoliberal theory has not remained static. In order to deal with the most powerful criticisms levelled against neoliberalism, that it has increased poverty and social dislocation around the world, neoliberal theory has attempted to present the ogre in a more favourable light. I11 spite of the substantial resources invested in this ideologically inspired make-over, these amendments have remained unconvincing, not least because the heart of the neoliberal project has remained unchanged. This is discussed in Chapter 15 for poverty and distribution, while Chapter 21 unpicks the agenda of the 'Third Way', viewed by many as 'neoliberalism with a human face'.

A MULTI-PRONGED POWER PROJECT

Neoliberalism offered a finance-friendly solution to the problems of capital accumulation at the end of a relatively long cycle of prosperity. Chapters 1. 22 and 30 show that neoliberalism imposed discipline upon a restless working class through contractionary fiscal and monetary policies and wide-ranging initiatives to curtail social rights, under the guise of anti-inflation and productivity-enhancing measures. Neoliberalism also rationalised the transfer of state capacity to allocate resources inter-temporally (the balance between investment and consumption) and inter-sectorally (the distribution of investment, employment and output) towards an increasingly internationally integrated (and US-led) financial sector. In doing so, neoliberalism facilitated a gigantic transfer of resources to the local rich and the United States, as is shown by Chanters 11 and 15. Neoliberal globalism is not at all a model of 'economic deregulation', and it does not promote 'private initiative' in general. Under the ideological veil of non-intervention, neoliberalism involves extensive and invasive interventions in every area of social life. It imposes a specific form of social and economic regulation based on the prominence of finance, international elite integration, subordination of the poor in every country and universal compliance with US interests. Finally, neoliberalism does not foster rapid accumulation. Although it enhances the power and the living standards of the global elite and its appendages, it is destructive for the vast majority. Domestically, the expansion of 'market relations' tramples upon rights of access to food, water, education, work, land, housing, medical care, transportation and public amenities as well as 011 gender relations, as is shown by Chanters 16 to 18. Lawrs are changed to discipline the majority, restrict their rights of association and make it difficult to protest against the consequences of neoliberalism and to develop alternatives. The police, the courts and the armed forces are available to quash protests in the 'new democracies' such as Bolivia, Ecuador, Nigeria, South Africa, South Korea and Zambia, as well as in 'old democracies' such as France, India, Italy, Sweden, the United Kingdom and the United States. Chanter 20 shows that democracy is everywhere limited by the rights of global capital to seize the land and exploit its people, while Chanter 8 reviews the systematic seizure of assets which has gone hand in hand with neoliberalism in many countries. Finally, an increasing share of global profits is being pumped into the rich countries, especially the United States. These transfers increase the pressure 011 the periphery, where rates of exploitation must increase sharply in order to support extraordinary levels of elite consumption domestically as well as in the United States. In other words, neoliberalism is a hegemonic system of enhanced exploitation of the majority. Chanter 12 shows that the neoliberal promise of rising living standards for poor countries has not been fulfilled, and Chanter ip, discusses the manner in which foreign aid has served this process of exploitation. These and other chapters in this volume argue that neoliberalism prevents the implementation of those very policies that would most likely contribute to economic growth and poverty reduction: as Chapter 28 argues for South Asia, neoliberalism has fatally narrowed the policy discourse. This exploitative agenda is primarily but not exclusively the outcome of a shift in the power relations within (and between) countries. It is also the outcome of technological changes, especially cheaper international transportation, communications and computing power, the internet, the emergence of 'flexible' production, greater international integration between production chains and in the financial markets, and so 011. These material changes responded to existing social changes at least as much as they induced them.

TRANSCENDING NEOLIBERALISM

In spite of its power, the transformations that it has wrought 011 the world economy, and the achievement of ever rising living standards for the minority, neoliberalism does not offer an efficient platform for capital accumulation. Under neoliberalism, economic growth rates have declined, unemployment and underemployment have become widespread, inequalities within and between countries have become sharper, the living and working conditions of the majority have deteriorated almost everywhere, and the periphery has suffered greatly from economic instability. In other words, neoliberalism is a global system of minority power, plunder of nations and despoilment of the environment. This system breeds economic, political and social changes, creating the material basis for its own perpetuation and crushing the resistances against its reproduction. Chanters 26 to 30 discuss the continuing crisis in Latin America, sub- Saharan Africa, South Asia, Japan and East and South-East Asia. They argue that neoliberal policies have enhanced instability everywhere, while Chanter 10 shows that the theoretical and empirical evidence cannot support neoliberalism's central hypothesis that trade openness is good for growth.

However, neoliberalism also destroys its own conditions of existence. Its persistent failure to deliver sustained economic growth and rising living standards exhausts the tolerance of the majority and lays bare the web of spin in which neoliberalism clouds the debate and legitimates its destructive outcomes. Tire endless mantra of 'reforms' which systematically fail to deliver their promised 'efficiency gains' delegitimises the neoliberal states, their discourse and their mouthpieces. The explosion of consumer credit that has supported the improvement of living standards in the centre, given the growing fiscal constrains upon the state, limits the scope for interest-rate manipulation - the most important neoliberal economic policy tool. Most importantly, popular movements have emerged and successfully challenged the neoliberal hegemony. Whatever their limitations, as Chapter ?? argues, the recent social explosions in Argentina, Bolivia, Ecuador, as well as more limited social movements elsewhere, show that neoliberalism is not invulnerable. This book details and substantiates these claims, and points toward an agenda of reflection, critique and struggle.

[Feb 25, 2021] Regarding terms "liberal" and "neoliberal"

Feb 25, 2021 | www.moonofalabama.org

MFB , Feb 25 2021 7:26 utc | 74

Regarding "liberal" and "neoliberal"...

"Liberal" appeared in Europe in a socio-economic context in the late 1600s to describe an system where business would be free, unhindered by royal/government control. For the most part, to start up a business, one needed a royal license or patent. The liberals wanted unregulated business, and their motto was "laissez faire" (let it be done/happen). Laissez-faire capitalism is generally considered the first (entrepreneurial) phase of capitalism, starting in the early 1700s.

Outside the English-speaking world, the word still relates to free trade and unregulated business practices.

"Neoliberal" is more recent, coming into common usage since the arrival of the Thatcher/Reagan regime of globalization. Neoliberals go one further than the original liberals. While the latter just wanted governments to let businesses do their thing, the neoliberals believe that it is government's duty to promote and support business, in other words to play a major role in making it possible for corporations to make money. Hence, Boeing and the other corporations and the big banks must NEVER be allowed to fail, for that would represent a failure of government as it is understood in neoliberal ideology.

Posted by: RJPJR | Feb 25 2021 1:02 utc | 5 4

Apropos neoliberalism.

The liberalism which is referred to here is the economic liberalism which was adopted in the United Kingdom in the 1840s after the "reform" of the Corn Laws, which permitted free trade in grain and therefore brought down both the price of wheat and the small farming community in the UK, as it was intended to do. Later these liberal policies (largely modelled on the "comparative advantage" economic theory, which had already been refuted by the time it was developed by David Ricardo) were used to justify the Irish genocide of 1847-9.

This policy was eventually abandoned later in the nineteenth century, except for places like India, of course. It was restored in the West in the 1970s, under the name of "free trade", and therefore is called neoliberalism, or new liberalism in the economic sense.

The term is not a compliment.

I suspect that the term "liberal-fascist" derives partly from the term Islamofascist, meaning a Muslim who does not bow to Washington six times a day, and partly from the term "social-fascist", a Stalinist term for a socialist who did not bow to Moscow six times a day.


vk , Feb 25 2021 12:04 utc | 84

@ Posted by: MFB | Feb 25 2021 7:26 utc | 74

Liberalism is the ideology of capitalism. According to Losurdo, the term "liberal" (as an adjective) is first found in 16th Century Spain, and essentially was a defense of slave labor to serf labor.

The first theoretician of Liberalism that I can think of is John Locke. If he wasn't the first, he certainly was the most influential, as he was the philosopher of the Founding Fathers of the USA.

Liberalism was never an organized "school" or ideology. The term itself as we know today (an ism) was only consolidated sometime around the French Revolution (1789), hence why many people today (mainly Western First Worlders) still associate the term is progressivism and even leftism. In reality, they are confounding the term with radicalism, which was the faction of the abolitionist liberals who extrapolated liberalism to all human beings.

Neoliberalism is literally the New Liberalism. The neoliberals believe that everything that happened between the Russian Revolution (1917) and the post-war welfare state social-democracy was an abortion of History that should've never have happened. They then propose the return to the classical liberal era (until 1914) with updates to the new technological realities of their time, as if the period of 1917-1975 never existed. They then seek to "link up" 1980-present to 1500-1914.

... ... ...

Mao Cheng Ji , Feb 25 2021 12:28 utc | 87

@vk "The neoliberals believe that everything that happened between the Russian Revolution (1917) and the post-war welfare state social-democracy was an abortion of History that should've never have happened."

Personally, I tend to define 'neoliberalism' as global financial capitalism. 'Global' being the key. Something similar to what's described here: https://en.wikipedia.org/wiki/Ultra-imperialism . Technological advances in global communications and transportation (containerization) being its most important precursors.

But I agree that the collapse of the Soviet Union, a competing alternative model, has to be an important component also.

vk , Feb 25 2021 12:34 utc | 88

@ Posted by: Mao Cheng Ji | Feb 25 2021 12:28 utc | 87

You're thinking about Monetarism - the economics school founded by Milton Friedman that served as the economic theory of neoliberalism after the 1980s.

Neoliberalism was founded in 1947 (Mont Pelerin Society). One interesting thing about the original neoliberals was that they didn't distinguish between European social-democracy and communism: in their view, the welfare state was the realization of the Communist Manifesto's program (it really does propose for what we nowadays call the welfare state in some of its pages as some kind of transition program).

The Mont Pelerin Society still exists.

Dogon Priest , Feb 25 2021 13:15 utc | 91

Some animals are more equal than others

vk , Feb 25 2021 13:36 utc | 93

@ Posted by: Mao Cheng Ji | Feb 25 2021 12:49 utc | 89

Monetarism is the economic theory. Neoliberalism is the political-ideological doctrine. Neoliberalism found in Monetarism the missing piece for them to govern the Western world, sometime in the mid-1970s.

It is common for a political-ideological doctrine to absorb theories outside of its "field" in order to strengthen itself and gain power. Change of clothes (i.e. change of the theories it adopts) is also common.

The impression Westerners have nowadays that one political-ideological doctrine must always have exactly one economic theory or even that they are the same thing comes from the fact that we live in the Era of Marxism, i.e. a historical period where Marxism is dominant. But Marxism is the exception to the rule, based on the scientific theory of the greatest philosopher of all time.

In practice, the bourgeois ideologues will have to make do with much inferior theoreticians (John Locke, Adam Smith, David Ricardo, Paul Samuelson, Mises, Hayek, Böhm-Bawerk, Walras, Keynes, Friedman etc. etc. etc.) and so it is expected for them to change their thinkers from time to time.

Mao Cheng Ji , Feb 25 2021 14:18 utc | 97

@vk "Neoliberalism found in Monetarism the missing piece..."

The way I see it, economics is the base. Like I said, technological advances in global communications and transportation shifted the paradigm. What we have now is international division of labor, controlled by west-owned global finance. Global financial capital is rising above national boundaries; the role of national governments is to provide resources, infrastructure, and disciplined low-cost labor, thus attracting a portion of global capital, competing for it.

That's what I call 'neoliberalism', but I don't insist on it. What's in the name? 'Hyperimperialism', 'super-imperialism', 'inter-imperialism' or even 'state cartel' would do.

It's just that 'neoliberalism' is a popular word these days, that seems to be used to describe the current form of "relations of production". And why not.

Now, about ideologies. My feeling is, there are always hundreds of various ideologies flying around. The establishment will pick a suitable one, shine it up in think-tanks, and go with it. It'll become the dominant ideology. Until it doesn't suffice anymore, and then they'll replace it with another. But that's all bullshit. Pwogwessivism, liberalism, social democracy, the third way, whatever. No need to pay attention.

vk , Feb 25 2021 14:53 utc | 99

@ Posted by: Mao Cheng Ji | Feb 25 2021 14:18 utc | 97

Now, about ideologies. My feeling is, there are always hundreds of various ideologies flying around. The establishment will pick a suitable one, shine it up in think-tanks, and go with it. It'll become the dominant ideology. Until it doesn't suffice anymore, and then they'll replace it with another. But that's all bullshit. Pwogwessivism, liberalism, social democracy, the third way, whatever. No need to pay attention.

That's the definition of democracy in the post-war, as defined by the likes of Arthur M. Schlesinger, Jr. and Hannah Arendt.

Schlesinger defined democracy or Western democracy as the system with a "vital center". A vital center is a political system dominated by a political spectrum (left-right). The ideologies within this political spectrum freely compete against each other in the public arena for political power (getting into the White House; forming a majority within a Parliament). Schlesinger is the father of what we nowadays call "pluralism". In opposition, a totalitarian system is one of a single party, in which he put Nazi Germany and the USSR - they don't have a "vital center".

Hannah Arendt defined totalitarianism as any system that vertebrates itself on one single meta-narrative (History). She put as the totalitarian holotypes both Nazi Germany and the USSR - the first built itself over the narrative of the master race; the second over class struggle. By exclusion, she defines a democratic system as those without a single narrative or any meta-narrative. By a different route, she comes to a similar endgame as Schlesinger, with the exception that, in her model, democracies don't necessarily need to be multi-party or even plural. You could be a single-party system and not plural - as long as the party doesn't adopt any "meta-narrative", it suffices as free and democratic. Needless to say, Arendt is one of the precursors to Postmodernism (absolute relativity).

That's why the West, until the present days, still consider itself as fully democratic and China and Russia fully totalitarian: as long as the West doesn't adopt a meta-narrative and keeps more than one party, they are democratic by post-war standards. It's not and never was about eradicating poverty, turning the world a better place, fomenting progress for the people etc. etc.

karlof1 , Feb 25 2021 18:41 utc | 121

Lots of stabs being made at a definition for Neoliberalism. The following is from Hudson's J is for Junk Economics , pgs 167-8:

" Neoliberalism: An ideology to absolve banks, landlords and monopolists from accusations of predatory behavior. Just as European fascism in teh 1930s reflected the failure of socialist parties to put forth a viable alternative, today's U.S.-centered neoliberalism reflects the failure of industrial capitalism or socialism to free society from rentier interests that are a legacy of feudalism.

"Turning the tables on classical political economy, rentier interests act as plaintiffs against public regulation and taxation of their economic rents in contrast to Adam Smith and other classical liberals, today's neoliberals want to deregulate monopoly income and free markets for rent seeking, as well as replacing progressive income taxation and taxes on land and banking with a value-added tax (VAT) on consumers.

"Endorsing an oligarchic role of government to protect property and financial fortunes (see Chicago School and Moral Hazard ), neoliberalism loads the economy with an exponential growth of debt while depicting it in a way that avoids recognizing the rising rentier overhead (rent, interest and insurance) paid to the FIRE sector. (See Junk Economics and Social Market .) Neoliberals want to privatize public infrastructure. They defend this grabitization by depicting public ownership and regulation as less efficient than congtrol by financial managers, despite their notorious short-termism. The pretense is that private operators will provide goods and services at lower cost even while extracting monopoly rent, building interest, dividends and high management salaries into prices. (See Pentagon Capitalism .)"

A related definition follows:

" Neoliberal Disease: A term coined by Jan Hellevig to describe the free hand that leaders of the demoralized post-Soviet bureaucracies gave neoliberals to redesign and de-industrialize their economies by creating client kleptocracies . 'They freed the markets, but only for the criminals. They totally neglected investments to modernize the industry, and let the assets and cash streams be openly or covertly stolen by insiders and the mob. The result was total chaos and the breakup of the Soviet Union.'" (Jon Hellevig, "Russian Economy--The disease is not Dutch but Liberal," Awara March 2 2016, reprinted in Johnson's Russia List , March 3, 2016, #12.)" [All Emphasis Original]

It should be noted the strategy Hellevig describes is the same as that used by those termed "Corporate Raiders" that first prominently surfaced during Reagan/Bush and were responsible for the so-called Savings & Loan Crisis.

If you don't have Hudson's book, I highly suggest getting it as it's filled with excellent information and beats taking both micro- and macroeconomics. It's the companion book to Killing the Host , which is essential for understanding Neoliberalism. The only part of the Saga missing is a definitive history telling how the Neoliberal doctrine arose in the UK and was exported to the USA @1880. Hudson has provided key portions but the overall story still remains to be told.

v> Notsofast says: February 22, 2021 at 7:15 pm GMT • 3.1 days ago • 100 Words

Notsofast says: February 22, 2021 at 7:15 pm GMT • 3.1 days ago • 100 Words

the worst mistake jimmy carter ever made was to hire brzezinski, father of the mujahideen and grandfather of al-qaeda. we used to brag about arming terrorists with weapons to shoot down russian helicopters, hell they even made a "comedy" about it called charlie wilsons war. now we accuse the russians of placing bounties on americans in afganistan and demand more sanctions be placed on russia.

utter hypocrisy.

as for the maidan cookie monster and her neocon half wit husband, further proof of failing upward, nothing succeeds like failure in washington. /div

[Feb 24, 2021] The tendency of liberalism to deny the consequences of society stems from its myth of the 'individual '

Feb 24, 2021 | www.moonofalabama.org

Patroklos , Feb 21 2021 22:13 utc | 63

b@8 (and vk passim)

The tendency of liberalism to deny the consequences of society stems from its myth of the 'individual'. Liberalism imagines a world of rational subjects each making decisions in a sovereign way (Thatcher's 'there is no such thing as society'). This allows capitalism to erect a moral framework that represents the consequences of an economy as the consequences of personal decisions. In this way, success (wealth) is 'reward' and failure (poverty) is punishment. It's what Max Weber called 'secular Protestantism'. The working classes participate in this evaluative ideology (Gramsci); it is the source of their self-loathing and the reason they always vote against their own best interests. They all believe their lack of means is a consequence of their lack of intelligence, work ethic, failure of entrepreneurial spirit, etc etc. Here is Marx's own critique of the way liberalism washes its hands of the effects of capitalism:

"The... theory... which is also expressed as a law of nature, that population grows faster than the means of subsistence, is the more welcome to the bourgeois as it silences his conscience, makes hard-heartedness into a moral duty and the consequences of society into the consequences of nature, and finally gives him the opportunity to watch the destruction of the proletariat by starvation as calmly as any other natural event without bestirring himself, and, on the other hand, to regard the misery of the proletariat as its own fault and to punish it. To be sure, the proletarian can restrain his natural instinct by reason, and so, by moral supervision, halt the law of nature in its injurious course of development." - Karl Marx, Wages, December 1847

While it may be superficially true that our poor Texan could have cunningly evaded copping the wholesale price the fact remains that he is -- as all Texans are -- a victim of a system structurally designed to extract exorbitant rents from his need for power. A socialist system would not see him as a battery hen to be skimmed or as an atomized individual who should 'sink or swim' (in the words of that local mayor) but would seek to prevent power, food, water, air, housing, education, health, etc etc from being hijacked and sequestered by vested interests accessible only by outrageous fees. Socialism would outlaw rent-seeking, which is the theft of meaningful life by carpetbaggers and their corrupt partners in government.

[Feb 21, 2021] 'Freedom' under neo-liberal capitalism is all of the negative type.

Feb 21, 2021 | www.unz.com

Mulga Mumblebrain , says: February 16, 2021 at 1:13 am GMT • 4.2 days ago

@Flying Dutchman

'Freedom' under neo-liberal capitalism is all of the negative type. You are free to be as greedy and arrogant as you like, as rich, ie as big a thief, as you like, and as poor as you like. You are to ignore the liberal injunction that your freedom must not interfere with that of others, and screw as many patsies as you desire. You are 'free' to vote for two or so near identical parties, then have no 'freedom' but that which your money buys you. 'Freedom' is the biggest lie of all Big Lies.

[Feb 05, 2021] The Great Reset, Part IV- -Stakeholder Capitalism- Vs. -Neoliberalism- - ZeroHedge

Feb 05, 2021 | www.zerohedge.com

Stakeholders consist of "customers, suppliers, employees, and local communities" in addition to shareholders. But for Klaus Schwab and the WEF, the framework of stakeholder capitalism must be globalized. A stakeholder is anyone or any group that stands to benefit or lose from any corporate behavior -- other than competitors, we may presume. Since the primary pretext for the Great Reset is global climate change, anyone in the world can be considered a stakeholder in the corporate governance of any major corporation. And federal partnerships with corporations that do not "serve" their stakeholders, like the Keystone Pipeline project, for example, must be abandoned.

...T ake one David Campbell, a British socialist (although non-Marxist) and author of The Failure of Marxism (1996). After declaring that Marxism had failed, Campbell began advocating stakeholder capitalism as a means to the same ends. His argument with the British orthodox Marxist Paddy Ireland represents an internecine squabble over the best means of achieving socialism, while also providing a looking glass into the minds of socialists determined to try other, presumably nonviolent tacks.

Campbell castigated Ireland for his rejection of stakeholder capitalism. ... Ireland's more-radical-than-thou Marxism left Campbell flummoxed. Didn't Ireland realize that his market determinism was exactly what the defenders of "neoliberalism" asserted as the inevitable and only sure means for the distribution of social welfare? "Marxism," Campbell rightly noted, "can be identified with the deriding of 'social reform' as not representing, or even as obstructing, 'the revolution.'" Like so many antireformist Marxists, Ireland failed to recognize that "the social reforms that [he] derided are the revolution."

Ireland and Campbell agreed that the very idea of stakeholder capitalism derived from companies having become relatively autonomous from their shareholders. The idea of managerial independence and thus company or corporate autonomy was first treated by Adolf A. Berle and Gardiner C. Means in The Modern Corporation and Private Property (1932) and after them in James Burnham's The Managerial Revolution (1962). In "Corporate Governance, Stakeholding, and the Company: Towards a Less Degenerate Capitalism?," Ireland writes of this putative autonomy: "[T]he idea of the stakeholding company is rooted in the autonomy of 'the company' from its shareholders; its claim being that this autonomy can be exploited to ensure that companies do not operate exclusively with the interests of their shareholders in mind."

This apparent autonomy of the company, Ireland argues, came about not with incorporation or legal changes to the structure of the corporation, but with the growth of large-scale industrial capitalism. The growth in the sheer number of shares and with it the advent of the stock market made for the ready salability of the of the share. Shares became "money capital," readily exchangeable titles to a percentage of profit, and not claims on the company's assets. It was at this point that shares gained apparent autonomy from the company and the company from its shareholders.

Moreover, with the emergence of this market, shares developed an autonomous value of their own quite independent of, and often different from, the value of the company's assets. Emerging as what Marx called fictitious capital, they were redefined in law as an autonomous form of property independent of the assets of the company. They were no longer conceptualized as equitable interests in the property of the company but as rights to profit with a value of their own, rights which could be freely and easily bought and sold in the marketplace .

On gaining their independence from the assets of companies, shares emerged as legal objects in their own right, seemingly doubling the capital of joint stock companies. The assets were now owned by the company and by the company alone, either through a corporation or, in the case of unincorporated companies, through trustees. The intangible share capital of the company, on the other hand, had become the sole property of the shareholder. They were now two quite separate forms of property. Moreover, with the legal constitution of the share as an entirely autonomous form of property, the externalization of the shareholder from the company had been completed in a way not previously possible.

Thus, according to Ireland, a difference in interests emerged between the holders of the industrial capital and the holders of the money capital, or between the company and the shareholder.

Nevertheless, Ireland maintains, the autonomy of the company is limited by the necessity for industrial capital to produce profit. The value of shares is ultimately determined by the profitability of the company's assets in use. "The company is, and will always be, the personification of industrial capital and, as such, subject to the imperatives of profitability and accumulation. These are not imposed from the outside on an otherwise neutral and directionless entity, but are, rather, intrinsic to it, lying at the very heart of its existence." This necessity, Paddy argues, defines the limits of stakeholder capitalism and its inability to sustain itself. "The nature of the company is such, therefore, as to suggest that [there] are strict limits to the extent to which its autonomy from shareholders can be exploited for the benefit of workers or, indeed, other stakeholders."

Here is a point on which the "neoliberal" Milton Friedman and the Marxist Paddy Ireland would have agreed, despite Ireland's insistence that the extraction of "surplus value" at the point of production is the cause. And this agreement between Friedman and Ireland is exactly why Campbell rejected Ireland's argument. Such market determinism is only necessary under capitalism, Campbell asserted. Predictions about how companies will behave in the context of markets are only valid under current market conditions...

Despite this insurmountable "neoliberal"/Marxist impasse, the notion of stakeholder capitalism is at least fifty years old. Debates about the efficacy of stakeholder capitalism date to the 1980s. They were stirred up by Friedman's rejection of the "soulful corporation," which reached its peak with Carl Kaysen's "The Social Significance of the Modern Corporation" in 1957. Kaysen viewed the corporation as a social institution that must weigh profitability against a broad and growing array of social responsibilities: "there is no display of greed or graspingness; there is no attempt to push off onto the workers or the community at large part of the social costs of the enterprise. The modern corporation is a soulful corporation." Thus, in Kaysen, we see hints of the later notion of stakeholder capitalism.

Likely, stakeholder capitalism can be traced, although not in an unbroken line of succession, to the "commercial idealism" of the late nineteenth and early twentieth centuries, when Edward Bellamy and King Camp Gillette, among others, envisioned corporate socialist utopias via incorporation. For such corporate socialists, the main means for establishing socialism was through the continuous incorporation of all the factors of production. With incorporation, a series of mergers and acquisitions would occur until the formation of a singular global monopoly, in which all "the People" had equal shares, was complete. In his "World Corporation , " Gillette declared that "the trained mind of business and finance sees no stopping-place to corporate absorption and growth, except final absorption of all the World's material assets into one corporate body, under the directing control of one corporate mind." Such a singular world monopoly would become socialist upon the equal distribution of shares among the population. Stakeholder capitalism falls short of this equal distribution of shares but gets around it by distributing value on the basis of social and political pressure.

Interestingly, Campbell ends his argument, rather undogmatically, by stating unequivocally that if Friedman was right and "if these comparisons [between shareholder and stakeholder capitalism] tend to show exclusive maximization of shareholder value to be the optimal way of maximizing welfare," then "one should give up being a socialist." If, after all, the maximization of human welfare is really the object, and "shareholder capitalism" (or "neoliberalism") proves to be the best way to achieve it, then socialism itself, including stakeholder capitalism, must necessarily be abandoned.

[Feb 03, 2021] Those who have the most to say about the burdens of government regulation tend to be silent about the enormous infrastructure supporting a very specific conception of corporate personhood, limited liability, and intellectual property.

Feb 03, 2021 | crookedtimber.org

kinnikinick 01.29.21 at 4:47 pm

Those who have the most to say about the burdens of government regulation tend to be silent about the enormous infrastructure supporting a very specific conception of corporate personhood, limited liability, and intellectual property.
It's like an industrialist looking out upon a vast landscape of canals, dams, and levees, and complaining at the "unnatural" construction of a bridge putting a ferryman out of a job.

[Feb 03, 2021] Amid -Shortage-, Ecuador Police Bust Clinic Giving 1000s Of Fake COVID Vaccines - ZeroHedge

Feb 03, 2021 | www.zerohedge.com

rock-ribbed 17 hours ago remove link

It's still not clear exactly what the clinic's customers were being injected with...

My guess is that it's something less hazardous to your health than the real vaccine, but still not what the greatest scientist of all time, Dr. Fauci, and our greatest president of all time, His Excellency Joe Biden, have mandated that you take.

[Feb 03, 2021] Freedom from the Market

Feb 03, 2021 | crookedtimber.org

Freedom from the Market

by HENRY on JANUARY 26, 2021

Mike Konczal has a new book, Freedom from the Market ( Bookshop.org locator , Amazon ). I've been wanting to write about this book for a while, but first had to wait for it to come out, and then had my working life banjaxed by the madness of the last few weeks. But it is a great book that looks to remake the American debate about freedom and largely succeeds. Full disclosure: Mike is a friend of the 'see very occasionally but like very strongly' variety; I also read an early version of the mss and commented on it.

When I say that this book is about the American debate, I mean it. Non-Americans will learn from the book, but they aren't the target audience. The examples that Konczal draws on to inform modern Americans are drawn from their own, largely forgotten history. This could be seen as a reflection of the American parochialism that Konczal mentions in passing, but it is, I think, a deliberate political move. It also is in some ways refreshing – rather than weaving fairytales about the wonders of Fantasy Sweden or Fantasy Germany, it tells stories where the ambiguities are necessarily more visible to its readers.

Still, it provides measured hope. By drawing on what has happened in American history, Konczal makes it easier for Americans to understand that things they might not believe are possible in America must be, because they have been. He rescues moments such as the WWII government run daycare centers that allowed women to work, or the use of the power of the federal state to force through the integration of Southern hospitals, from the enormous condescension of posterity. Notably, although he doesn't dwell on this point, many of these changes began at moments that seem shittier and more despairing than our own.

Konczal neither provides a standard linear history, nor a policy textbook. Instead, he is claiming an alternative American tradition, which has not looked to the market as its apotheosis, but instead has sought to free Americans from its random vagaries. His history explains how America has responded collectively to the real and expressed needs of publics, who have organized to fight for them. And it does so in the plain language that he mentions in passing was necessary to allow ordinary people to organize and understand who was trying to stop them.

Konczal's fundamental claim is that people who attribute freedom to markets miss out on much of the story. Equally important is a notion of freedom from markets, "rooted in public programs that genuinely serve people and checking market dependency." This notion goes back much further in time than the New Deal. The nineteenth century is sometimes depicted as a reign of laissez-faire, both by those who admired it and deplored it. Konczal argues instead that there was an emerging sense of public needs – and imperfect ways in which the government provided for them. This helps us understand, for example, the provision of public land through the Homestead Act and the land grant universities.

The nineteenth century notion of the public was clearly horribly flawed and contradictory – it did not include slaves or Native Americans. Some, like Horace Greeley ended up fleeing these contradictions into the welcoming arms of free market absolutism. But within these contradictions lay possibilities that opened up in the twentieth century. Konczal builds, for example on Eric Schickler's work to argue that as the New Deal began to provide concrete benefits to African Americans, it created a new relationship between them and the Democratic Party, breaking up the old coalition that had held Jim Crow together.

The organizing ideas in this book are Polanyian – the stresses of the market lead to social rupture, which may in turn create the conditions for political mobilization. But Konczal doesn't depict this as necessary or inevitable – people's choices have consequences. He is also more precise than Polanyi in his understanding of how change happens – through social movements and the state:

While the Supreme Court can be effective at holding back change and enforcing already existing power structures, it is actually very weak at creating new reform itself. It controls no funding and is dependent on elite power structures to carry out its decisions. What really creates change is popular mobilization and legislative changes.

Finally, Konczal not only employs Polanyi's ideas, but the ideas of Polanyi's friendly critics like Quinn Slobodian, to describe how modern Hayekians have sought to "encase" the market order in institutions and practices that are hard to overturn. Property rights aren't the foundation of liberty, as both nineteenth century jurists and twentieth century economists would have it. They are a product of the choices of the state, and as such intensely political.

This allows Konczal to turn pragmatism against the Hayekians. Hayek's notion of spontaneous order is supposed to be evolutionary, to provide a more supple response to what people (thought of as individuals want). But if there is a need to provide collective goods for people that cannot be fulfilled through voluntarism, the Hayekian logic becomes a brutal constraint on adaptation.

The efforts of Hayekians to enforce binding legal constraints, to cripple the gathering of the collective knowledge that can guide collective action, to wink at legal doctrines intended to subvert social protections against the market; all these prevent the kinds of evolutionary change that are necessary to respond to changing circumstances. Konczal makes it clear that Oliver Wendell Holmes was no left-winger – but his pragmatist criticisms of the rigid and doctrinaire laissez-faire precepts of his colleagues rings true. Their "willingness to use a very specific understanding of economics to override law writes a preferential understanding of economics into the constitution itself." Although Konczal wrote this book before the current crisis, he describes Holmes as mentioning compulsory vaccination laws as one of the ways in which government interference in private decisions can have general social benefits. The wretched contortions of libertarians and market conservatives over anti-pandemic measures during the last several months, and the consequences of their intellectual rigidity for human welfare in states such as North Dakota illustrate the point, quite brutally.

What Konczal presses for is a very different notion of freedom. This doesn't deny the benefits of markets, but it qualifies them. In Konczal's words, "markets are great at distributing things based on people's willingness to pay. But there are some goods that should be distributed by need." Accepting this point entails the necessity of keeping some important areas of life outside the determining scope of markets. Furthermore, people's needs change over time, as societies and markets change. Konczal's framework suggests the need for collective choice to figure out the best responses to these changes, and a vibrant democratic politics, in which the state responds to the expressed needs of mobilized publics as the best way to carry out these choices.

All this makes the book sound more like an exercise in political theory than it is. That's because of my own professional deformities, and because I want you to read the book itself, if you really to get the good stuff – the stories, the examples, and the overall narrative that Konczal weaves together. Freedom from the Market has the potential to be a very important book, focusing attention on the contested, messy but crucially important intersection between social movements and the state. It provides a set of ideas that people on both sides of that divide can learn from, and a lively alternative foundation to the deracinated technocratic notions of politics, in which good policy would somehow, magically, be politically self supporting, that has prevailed up until quite recently. Strongly recommended.

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Brett 01.26.21 at 3:47 pm ( 1 )

I'll second this recommendation – it was a great read. I would especially recommend reading it for the section on Medicare integration, since that's a story that rarely gets told but is genuinely quite fascinating. It gives me greater respect for LBJ, given that he was giving them full-support despite a difficult, treacherous political battle to integrate hospitals in the South despite immense resistance.

He also made a very interesting point after the Homestead section when he got to the section on work-hour labor movements, about how they needed to specifically make it so that certain rights couldn't be contracted away, because otherwise even laws establishing such-and-such rules would get end-runned by businesses requiring their employees to give them up in contracts.

Kurt Schuler 01.27.21 at 4:10 am (
3
)

Henry, you write, "if there is a need to provide collective goods for people that cannot be fulfilled through voluntarism, the Hayekian logic becomes a brutal constraint on adaptation." That seems like a big "if." Other than the classic examples of national defense and perhaps police and courts, what goods cannot be provided through voluntarism?

Chris Bertram 01.27.21 at 8:29 am (no link)

There's a nice line in Slobodian's book about Americans not knowing much about the rest of the world but imagining that the US is a scale-model of it. Isn't the worry about the general claim here that it is more plausible to see property rights as merely the creature of the state when you have a vast internal market with many needs catered for by domestic production than it is when you have small states with relatively specialized domestic production that need to trade across borders to satisfy their needs. In such a case, where the real economy transcends borders and where trade barriers at those borders just make everyone poorer, you need transnational guarantees (or at least a very strong degree of confidence) for property rights and investment against the potential interference of local governments. So even if Konczal is right for the US, the question of how to do social democracy transnationally remains for the rest of us. The EU is one possible answer to that, but the continuation of national political narratives, blaming other nations within the structure for their own problems (Germany > Greece, Italy) etc remains a big obstacle to anti-market pushback at that level.

reason 01.27.21 at 11:20 am (no link)

Just a short aside, this sentence struck me:

" Property rights aren't the foundation of liberty, as both nineteenth century jurists and twentieth century economists would have it."

Property rights are inherently a restriction of liberty. They restrict the rights of everybody but the designated owner. It may be that in some circumstances they are net a positive, that this is clearly not something one can expect from the nature of the thing. That this point isn't made more often and more strongly puzzles me.

Jake Gibson 01.27.21 at 1:22 pm (no link)

I think it can be illuminating to think of "property rights" in the context that at some point all property was taken (stolen) from The Commons.
And that property laws are enshrinement of common law on possession (nine tenths).

MPAVictoria 01.27.21 at 1:22 pm ( 8 )

"what goods cannot be provided through voluntarism?"

Apparently insulin .
https://nymag.com/intelligencer/2019/07/another-person-has-died-from-rationing-insulin.html

Henry 01.27.21 at 2:16 pm (no link)

The "twentieth century economists" like the "nineteenth century jurists" refer just to those discussed in the book (basically Friedman, Chicago School, market for corporate control people etc etc). So they're not claims about the general class of economists in the twentieth century, where there is tons of disagreement on lots of stuff obviously, but a particular strain of economic thought that Konczal writes about.

Rapier 01.27.21 at 3:27 pm ( 10 )

There is no "the" market. All markets are not the same.
The Hayekians first insistence is that in fact all markets are the same. They then have designed the 'markets' they want, and if you design a market you win.

Mike Huben 01.27.21 at 4:11 pm (no link)

Kurt Schuler @ 3 asks: "what goods cannot be provided through voluntarism?"

The glib answer is "none" because you can always find an exceptional case of private production.

But the problem is "provided" is underspecified: it could mean provision to only one person, or (better) provision of ENOUGH. And even enough is underspecified.

Look at something like water. Public provision of vast volumes of clean, safe, cheap drinking water is an alternative to voluntarism's answer: expensive bottled water which must be used frugally by the poor, consumes much energy in transportation and waste in plastic: which is enough? Which is proper provision? Should there be only one type of provision?

And of course that question implies another; what goods should not be provided through voluntarism? Maybe pollution, addiction, crime, and a host of others.

"Voluntarism" is an example of framing, trying to focus the world through an ideological lens. If you accidentally accept this narrow peephole on the world, your thinking is greatly constrained because of the things is has misdirected you from. The same kind of framing as "markets are freedom", which Konczal is apparently decrying. (I have not yet read the book.)

steven t johnson 01.27.21 at 4:59 pm ( 12 )

Given the tenor of most responses, it doesn't seem likely Konczal's book is going to change the narrative in any significant way.

Bob@2 seems a good example of the pro-market reasoning. For one thing, "economics" says that if a person with a scarce talent can earn more money than is necessary to induce them to exercise that talent, the income can be taxed away without affecting the market outcome. Considering the real life examples of professional athletes, movie stars and artists, the sage advice to tax the athletes, stars and artists, precisely because it won't endanger the market outcomes of professional athletics, Hollywood and the art world presupposes the market outcomes of pro sports, Hollywood and the museum/art gallery circuit are just and wise.

Bob@2 wrote "Economics is wisely silent on people's preferences and needs. The point surely is not that there is something inherent in certain goods that means they should be distributed by need–who decides what those "good" goods are that everyone (ought to?) need?; the point is that income should be redistributed so that everyone can buy whatever they see fit to buy based on their own understanding of their needs."

Yes, I recall reading a short article by von Hayek explaining there was no scientific way to distinguish between wants and needs, thus there was no way ever, even in principle, to deny there was such a thing as scarcity. Like von Hayek, the assumption that, given the impossibility of pronouncing a difference between needs and wants (nor apparently even a way of merely satisficing any such distinction,) the only valid way of deciding what must be produced is by consumer sovereignty. The "votes" by rational consumers are the only possible means of justice. Like distinguishing between productive and unproductive labor, anything less than the market is tyranny.

I have no idea why Bob says Konczal's book as presented doesn't pose a problem, given two market refutations of it are endorsed in the comment. It may be something like compatibilism, the philosophical position that people have free will in the religious sense despite the myriad of facts and millennia of experience showing that the religious notion of moral responsibility is, to say the least, flawed. In words, compatibilists will say they accept things like mental illness leave old notions of moral responsibility -- which is to say, old notions about retribution and punishment -- then in practice, they will do things like try adolescents as adult or arbitrarily limit the definition of mental illness or simply ignore such fiddling objections to honor time-honored customs. Similarly, market proponents will give lip service to the notion of market failure, then inexplicably (?) fail to see it.

Chris Bertram@5 writes " the continuation of national political narratives, blaming other nations within the structure for their own problems (Germany > Greece, Italy) etc remains a big obstacle " to social democracy. Is the illustrative example meant to condemn Germany blaming Greece and Italy for creating their own problems and leeching (or trying to) off of Germany? Or, is it Greece and Italy blaming of Germany for not curing their own failures for them? Is it somehow both? Also, the definition of the EU as a consortium of states premised on fiscal integrity may be more of an obstacle to social democracy than political narratives, however construed?

Francis Spufford 01.27.21 at 7:50 pm ( 13 )

Kurt Schuler @ 3 --

Well, insulin clearly (see above). But also: schools that make everybody literate and promote basic social solidarity. Colleges that are cheap enough to educate all of the talents. Hospitals that treat illnesses irrespective of ability to pay. Universal vaccinations. Flood defences. Disaster relief. Food inspectors. Drug safety testers. Buildings inspectors. Fire inspectors. Transport safety inspectors. Highways. Mending potholes in highways. Keeping bridges safe. Last-mile rural electrification. Universal mail coverage at a single price. Legal advice to even access to justice by rich and poor. Excellent daycare at prices poor people can afford. Basic research in particle physics and astronomy. R & D in far-from-market areas society needs. Drug discovery for diseases poor people get. Training of specialists in non-profitable yet essential professions. Landscape conservation. Pollution control. Tech regulation. Setting a carbon price/tax. Railways that move people fast enough and cheaply enough to take custom away from ecocidal airlines. Mass transit in cities. Space programmes. A welfare safety net permitting risky careers in the arts. A welfare safety net to equalise the chances of children. A welfare safety net allowing every member of a society to go to sleep every night in a state of delicious moral luxury, knowing that no-one is hungry. Lighthouses. Earthquake detection. Censuses. Diplomacy. Peacemaking. Peacekeeping. Public broadcasters with editorial independence. Et cetera et cetera et cetera, in every flavour from civilisational basic to utopian flight of fancy. Collective action! Getting the job done everywhere on the planet where libertarians aren't.

John Quiggin 01.28.21 at 6:52 am ( 14 )

" In such a case, where the real economy transcends borders and where trade barriers at those borders just make everyone poorer, you need transnational guarantees (or at least a very strong degree of confidence) for property rights and investment against the potential interference of local governments."

Much of the world did social democracy pretty well last century, without transnational guarantees. Conversely, the creation of investor guarantees like ISDS has been a gift to predatory corporations like Philip Morris.

[Feb 03, 2021] US insulin prices as market failure

Feb 03, 2021 | crookedtimber.org

mw 01.28.21 at 6:04 pm (
19
)

"Apparently insulin ."

Insulin (and Epi pens) become unaffordable in the U.S. because the government massively screwed up the regulations. These are off-patent drugs, so in theory anybody can make them. BUT, getting production facilities FDA-approved is a long, expensive process. So when there's an effective monopoly on a drug, no other company will enter the market to compete -- even after huge price hikes. Why not? Because after the new company had invested the time and money to get its production line built and approved, the original monopolist would drop its prices back down, and the new entrant would make no money. And everybody knows this, so potential new entrants don't bother. An obvious solution is reciprocity to allow importation of drugs already approved in the EU. But there's no way the FDA is going to allow that to happen and lose its regulatory monopoly.

The bottom line is that these are not failures of unregulated markets, they are cases of government failure in the most heavily regulated market in the U.S. (and where, in fact, the strict regulation is the key enabler of the bad outcome and where the obvious fix is blocked by the regulatory agency defending its turf).

MPAVictoria 01.29.21 at 1:39 am (no link)

"Insulin (and Epi pens) become unaffordable in the U.S. because the government massively screwed up the regulations."

Just need to point out that this is completely false. Insulin prices are high in the US because of a lack of price controls. Canada has very similar patent rules and our insulin is made by the same companies but guess what? We set a maximum price for pharmaceuticals. The US should do the same.

mw 01.29.21 at 1:23 pm (no link)

MPAVictoria @ 23 Just need to point out that this is completely false. Insulin prices are high in the US because of a lack of price controls. Canada has very similar patent rules and our insulin is made by the same companies but guess what? We set a maximum price for pharmaceuticals. The US should do the same.

Yes, you could layer on additional price-control regulations to fix the problems caused by the existing regulations. Of course it's one thing for Canada to adopt such rules where the U.S. has not (and remains a source of profits and R&D incentives) and another when the U.S. is also controlling prices. Incidentally, if price controls were to be adopted in the U.S., my suggested approach is that the U.S. should require all pharma companies within, say, two years to sell drugs here for the lowest price they have negotiated in any industrialized country with a comparable per-Capita GDP. Then we can all be in it together.

But that's all a discussion for another thread -- the point remains that insulin and epi pens are not examples of a free, unregulated market failing, they're an example of a very heavily (but badly) regulated market failing. Yes bad U.S. regulations are responsible -- they create barriers to entry (specifically high costs of setting up a production facility combined with an FDA regulatory monopoly and a ban on imports) that enable monopoly pricing.

notGoodenough 01.29.21 at 8:01 am (no link)

mw @ 19, MPAVictoria @ 23

Not to side-track the thread, but I think there was an attempt to explore this on a previous thread (particularly with respect to Daraprim, though I believe many of the points are applicable in a general sense) [1]. While I´ll freely admit I am not an economist, I didn´t find the responses to my queries and concerns from those advocating "regulations are the issue" sufficiently satisfactory [2, 3] to warrant changing my position – in short, I see little evidence to support the notion that it is US regulations responsible for the high price of pharmaceuticals (particularly as it appears that R&D spending is frequently less than that of marketing and administration). I hope the discussion at the links provided is of interest.

Apologies to everyone for the interjection, but Pharma is a topic of keen interest and concern to me.

[1] https://crookedtimber.org/2019/10/09/the-third-lesson/
[2] https://crookedtimber.org/2019/10/09/the-third-lesson/#comment-766046
[3] https://crookedtimber.org/2019/10/09/the-third-lesson/#comment-766434

CHETAN R MURTHY 01.29.21 at 8:32 pm (no link)

mw @ 30: I forgot to respond to your by-the-by argument that the pharmas' US profits fund their R&D. This is, as with the rest of your arguments, untrue.

(1) the US taxpayer funds most pharma research
(2) Last I checked, pharmas spend more on advertising and lobbying than they do on R&D.

'nuff said.

MPAVictoria 01.30.21 at 1:29 am (no link)

@ NotGoodenough – Interesting links thank you! And I completely agree that I am unconvinced that over regulation in it the reason the US has uniquely high drug prices.

@ me – Drug approval and manufacturing requirements in the US are not that different from any other developed country. Neither is it's Drug IP regime. So the argument that these features are what cause these outrageous pharmaceutical prices doesn't make much sense. In fact the US had a bit of a reputation of being too ready to approve drugs with limited effectiveness. The reason that Americans pay more than anyone else in the world is simple – no price controls.

[Feb 02, 2021] Watching stock market moves is like watching Pulp Fiction: halfway through, the violence doesn t even bother you anymore

Notable quotes:
"... "It's like watching 'Pulp Fiction.' Halfway through, the violence doesn't even bother you anymore." ..."
Jan 27, 2019 | www.zerohedge.com

"Investors are becoming desensitized,"

Bryce Doty, SVP at Sit Investment Associates, told Bloomberg, then continued the verbal poetry:

"It's like watching 'Pulp Fiction.' Halfway through, the violence doesn't even bother you anymore."

[Jan 29, 2021] The Coming Revolt Of The Middle Class - ZeroHedge

Jan 29, 2021 | www.zerohedge.com

he Great American Middle Class has stood meekly by while the New Nobility stripmined $50 trillion from the middle and working classes. As this RAND report documents, $50 trillion has been siphoned from labor and the lower 90% of the workforce to the New Nobility and their technocrat lackeys who own the vast majority of the capital: Trends in Income From 1975 to 2018 .

Why has the Great American Middle Class meekly accepted their new role as debt-serfs and powerless peasants in a Neofeudal Economy ruled by the New Nobility of Big Tech / monopolies / cartels / financiers? The basic answer is the New Nobility's PR has been so persuasive and ubiquitous: soaring inequality and Neofeudalism has nothing to do with us, it's just the natural result of technology and globalization--forces nobody can resist. Sorry about your debt-serfdom, but hey, your student loan payment is overdue, so it's the rack for you.

The recent Foreign Affairs article referenced here last week Monopoly Versus Democracy (paywalled) describes the net result of the economic propaganda that the stripmining of the working and middle classes was ordained and irresistible: Today, Americans tend to see grotesque accumulations of wealth and power as normal. That's how far we've fallen:

"As the journalist Barry Lynn points out in his book Liberty from All Masters: The New American Autocracy vs. the Will of the People , the robber barons shared with today's high-tech monopolists a strategy of encouraging people to see immense inequality as a tragic but unavoidable consequence of capitalism and technological change. But as Lynn shows, one of the main differences between then and now is that, compared to today, fewer Americans accepted such rationalizations during the Gilded Age. Today, Americans tend to see grotesque accumulations of wealth and power as normal. Back then, a critical mass of Americans refused to do so, and they waged a decades-long fight for a fair and democratic society." (emphasis added)

The bottom 90% of the U.S. economy has been decapitalized : debt has been substituted for capital . Capital only flows into the increasingly centralized top tier, which owns and profits from the rising tide of debt that's been keeping the bottom 90% afloat for the past 20 years.

As I've often observed here, globalization and financialization have richly rewarded the top 0.1% and the top 5% technocrat class that serves the New Nobility's interests. Everyone else has been been reduced to debt-serfs and peasants who now rely on lotteries and luck to get ahead: playing the stock market casino or hoping their mortgaged house in an urban sprawl on the Left or Right coasts doubles in value, even as the entire value proposition for living in a congested urban sprawl vanishes.

America has no plan to reverse this destructive tide of Neofeudal Pillage. Our leadership's "plan" is benign neglect : just send a monthly stipend of bread and circuses (the technocrat term is Universal Basic Income UBI) to all the disempowered, decapitalized households, urban and rural, so they can stay out of trouble and not bother the New Nobility's pillaging of America and the planet.

There's a lot of bright and shiny PR about rebuilding infrastructure and the Green New Deal, but our first question must always be: cui bono , to whose benefit? How much of the spending will actually be devoted to changing the rising imbalances between the haves and the have-nots, the ever-richer who profit from rising debt and the ever more decapitalized debt-serfs who are further impoverished by rising debt?

As I explain in my book A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet , people don't want to just get by on UBI , they want an opportunity to acquire capital in all its forms, an opportunity to contribute to their communities, to make a difference, to earn respect and pride.

That our "leadership" reckons bread and circuses is what the stripmined bottom 90% want is beyond pathetic. The middle class has meekly accepted the self-serving claim of the New Nobility that the $50 trillion transfer of wealth was inevitable and beyond human intervention. But once the stock market and housing casinos collapse, the last bridge to getting ahead--high-risk gambling-- will fall into the abyss, and the middle class will have to face their servitude and powerlessness.

That's how Neofeudal systems collapse: the tax donkeys and debt-serfs finally revolt and start demanding the $50 trillion river of capital take a new course.

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[Jan 28, 2021] 'Where is the line between global business attempts to control society-' Putin asks Davos as he calls out power of Big Tech

Jan 28, 2021 | www.rt.com

'Where is the line between global business & attempts to control society?' Putin asks Davos as he calls out power of Big Tech 27 Jan, 2021 12:10 / Updated 3 hours ago Get short URL 'Where is the line between global business & attempts to control society?' Putin asks Davos as he calls out power of Big Tech © Pixabay / Gerd Altmann 354 18 Follow RT on RT Technology giants have become powerful rivals to governments, but there are doubts over the benefits for society of their monopoly positions, Russia's President Vladimir Putin told the annual World Economic Forum, on Wednesday .

"Where is the line between a successful global business, in-demand services and consolidation of big data – and attempts to harshly and unilaterally govern society, replace legitimate democratic institutions, restrict one's natural right to decide for themselves how to live, what to choose, what stance to express freely?" Putin wondered.

"We've all seen this just now in the US. And everybody understands what I'm talking about," he added.

The Russian leader was apparently referring to the crackdown by Big Tech corporations like Twitter, Facebook, Google, Apple and Amazon, mostly on Donald Trump and his supporters, during the recent presidential election in the US. The companies, which, according to some critics, sided with Democratic candidate Joe Biden, blocked President Trump's social media accounts over accusations of inciting violence, with the same being done to many pages of groups and individuals who'd backed him.

ALSO ON RT.COM YouTube prolongs Trump suspension citing 'ongoing potential for violence' as Big Tech doubles down on deplatforming policies

However, one-sided bias claim voiced by some might be an overestimation – the accounts of Democrats supporters were also subject to restrictions, but on a much smaller scale.

Conservative Twitter-like platform Parler was also forced offline, and now there are calls to block the Telegram app as well.

These events have shown that Big Tech companies "in some areas have de facto become rivals to the government," Putin said.

Billions of users spend large parts of their lives on the platforms and, from the point of view of those companies, their monopolistic position is favorable for organizing economic and technological processes, the Russian president explained. "But there's a question of how such monopolism fits the interest of society," he stressed.

ALSO ON RT.COM Putin tells Davos that divided modern world facing 'real breakdown', with demographic struggles & echoes of 1930s pre-WW2 tensions

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shadow1369 8 hours ago 27 Jan, 2021 07:51 AM

This is a great opportunity for Russia to create some Big Tech operators which actually allow free speech. Russia certainly has the expertise and the means, and cannot be bullied by western regimes.
Proton1963 shadow1369 1 hour ago 27 Jan, 2021 02:54 PM
Sure.. But only after the Russians can build a drivable car or a decent smart phone or a laptop.
Election_Fraud Biden shadow1369 1 hour ago 27 Jan, 2021 02:12 PM
The West is surely giving Russia a lot of opportunities, through its own arrogance and stupidity, does not it ? It keeps going backwards in its effort to diminish Russia. And the same goes for China too.
JOHNCHUCKMAN 7 hours ago 27 Jan, 2021 08:45 AM
Putin is a remarkable statesman, and he sets a very high standard for political discourse. I can't think of any of our Western leaders who speak in these truthful and philosophic terms. What we hear in the West are slogans or whining or complaining.
Tenakakhan JOHNCHUCKMAN 3 hours ago 27 Jan, 2021 01:03 PM
The patriarch of the west has become extremely weak. It seems like our leaders lack any moral authority to speak truth and common sense for fear of being cancelled. What we see now is the virtue signaling dregs sponsored by extreme groups leading our nations down the toilet. If a real war was to break out now we would be cannon fodder.
Hilarous 7 hours ago 27 Jan, 2021 09:04 AM
I think there's a simple explanation. Big tech is afraid to lose section 230 of the communications act, which stipulates that online platforms are not legally responsible for user content. Trump and some Republicans have accused social media sites of muzzling conservative voices. They said undoing Section 230 would let people who claim they have been slighted sue the companies. So Big Tech has a strong interest to remove Trump and run down a few bad examples to convince people and politics that Section 230 must remain.
Count_Cash 8 hours ago 27 Jan, 2021 07:40 AM
In many cases they aren't rivals, but owners of government. Money controls everything in the west and big tech have it. They have taken control of, or are blackmailing governments. The Western Liberal Regime straddles both Big Tech and government!
RTaccount Count_Cash 7 hours ago 27 Jan, 2021 08:57 AM
Correct. Let us never forget that in America we are ruled by oligarchs just like the rest of the world, and that our oligarchs are largely hidden. They are our true government, and so it is meaningless to make this type of distinction.

[Jan 27, 2021] Why financial oligarchy loves neoclassical economics

Jan 27, 2021 | www.nakedcapitalism.com

Sound of the Suburbs , January 27, 2021 at 4:00 am

The globalists found just the economics they were looking for.
The USP of neoclassical economics – It concentrates wealth.
Let's use it for globalisation.

Mariner Eccles, FED chair 1934 – 48, observed what the capital accumulation of neoclassical economics did to the US economy in the 1920s.
"a giant suction pump had by 1929 to 1930 drawn into a few hands an increasing proportion of currently produced wealth. This served then as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied themselves the kind of effective demand for their products which would justify reinvestment of the capital accumulation in new plants. In consequence as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When the credit ran out, the game stopped"

This is what it's supposed to be like.
A few people have all the money and everyone else gets by on debt.

[Jan 25, 2021] Neoliberal world order is morping into neo-feudalism

The process started with Patriot Act which actually was written by Biden around much earlier then 9/11
Jan 25, 2021 | www.unz.com

Mr. Anon , says: January 25, 2021 at 7:42 am GMT • 19.2 hours ago

@Levtraro to travel. It will be a perk for them – a reward for being good servants. I can even forsee that airlines will refit their fleets, stripping out coach class altogether, as the people who buy the cheap seats won't be flying anymore anyway. A lot of industries will down-size so as to only serve the quality customers.

And rich people are buying up land – lots of it. They are becoming what they already deem themselves to be: an aristocracy, and a hereditary one at that.

Neo-liberal GloboCap is morping into neo-feudalism. They'll own everthing, and they'll be happy. You'll own nothing and you'll be happy (or else).

cronkitsche , says: January 25, 2021 at 3:17 pm GMT • 11.6 hours ago
@Mr. Anon

Cheap drugs? Free sterilization? No jobs? That's halfway to Marcusian utopia. What's not to love?

Levtraro , says: January 25, 2021 at 6:10 pm GMT • 8.7 hours ago
@Mr. Anon

I disagree. Current GloboCap elites and elites thoughout history have needed large populations to look down to and to harvest for all they can yield. It is not good enough to have all that you want when all others also have all that they want.

It is not nice enough to travel in your own or rented Gulf Stream or First Class or Business Class when economy seats are non-existent. It is not good enough that a machine calls you Sir instead of a real lowly human.

Real respect, admiration and adulation, could never be replaced by programmed respect, admiration and adulation.

[Jan 25, 2021] An American neoliberal ideological project

Jan 25, 2021 | www.rt.com

McFaul cautions against what he refers to as "Putin's ideological project" as a threat to the neoliberal international order. Yet he is reluctant to recognize that the neoliberal international order is an American ideological project for the post-Cold War era.

With no sign of US returning to fold, Russia is preparing to withdraw from 'Open Skies' treaty - Foreign Ministry READ MORE: With no sign of US returning to fold, Russia is preparing to withdraw from 'Open Skies' treaty - Foreign Ministry

After the Cold War, neoliberal ideologues advanced what was seemingly a benign proposition – suggesting that neoliberal democracy should be at the center of security strategies. However, by linking neoliberal norms to US leadership, neoliberalism became both a constitutional principle and an international hegemonic norm.

NATO is presented as a community of neoliberal values – without mentioning that its second largest member, Turkey, is more conservative and authoritarian than Russia – and Moscow does not, therefore, have any legitimate reasons to oppose expansionism unless it fears democracy. If Russia reacts negatively to military encirclement, it is condemned as an enemy of democracy, and NATO has a moral responsibility to revert to its original mission as a military bloc containing Russia.

Case in point: there was nobody in Moscow advocating for the reunification with Crimea until the West supported the coup in Ukraine. Yet, as Western "fact checkers" and McFaul inform us, there was a "democratic revolution" and not a coup. Committed to his ideological prism, McFaul suggests that Russia acted out of a fear of having a democracy on its borders, as it would give hope to Russians and thus threaten the Kremlin. McFaul's ideological lens masks conflicting national security interests, and it fails to explain why Russia does not mind democratic neighbors in the east, such as South Korea and Japan, with whom it enjoys good relations.

Defending the peoples

States aspiring for global hegemony have systemic incentives to embrace ideologies that endow them with the right to defend other peoples. The French National Convention declared in 1792 that France would "come to the aid of all peoples who are seeking to recover their liberty," and the Bolsheviks proclaimed in 1917 "the duty to render assistance, armed, if necessary, to the fighting proletariat of the other countries."

The American neoliberal international order similarly aims to liberate the people of the world with "democracy promotion" and "humanitarian interventionism" when it conveniently advances US primacy. The American ideological project infers that democracy is advanced by US interference in the domestic affairs of Russia, while democracy is under attack if Russia interferes in the domestic affairs of US. The neoliberal international system is one of sovereign inequality to advance global primacy.

READ MORE Putin says American presence in Afghanistan is beneficial to Moscow's interests, rubbishes claims of 'Russian bounties to Taliban' Putin says American presence in Afghanistan is beneficial to Moscow's interests, rubbishes claims of 'Russian bounties to Taliban'

McFaul does not consider himself a Russophobe, as believes his attacks against Russia are merely motivated by the objective of liberating Russians from their government, which is why he advocates that Biden "distinguish between Russia and Russians – between Putin and the Russian people." This has been the modus operandi for regime change since the end of the Cold War – the US supposedly does not attack countries to advance its interests, it only altruistically assists foreign peoples in rival states against their leaders such as Slobodan Milosevic, Saddam Hussein, Muammar Gaddafi, Xi Jinping, Vladimir Putin etc.

McFaul and other neoliberal ideologues still refer to NATO as a "defensive alliance," which does not make much sense after the attacks on Yugoslavia in 1999 or Libya in 2011. However, under the auspices of neoliberal internationalism, NATO is defensive, as it defends the people of the world. Russia, therefore, doesn't have rational reasons for opposing the neoliberal international order.

McFaul condemns alleged efforts by Russia to interfere in the domestic affairs of the US, before outlining his strategies for interfering in the domestic affairs of Russia. McFaul blames Russian paranoia for shutting down American "non-governmental organizations" that are funded by the US government and staffed by people linked to the US security apparatus. He goes on to explain that the US government must counter this by establishing new "non-government organizations" to educate the Russian public about the evils of their government.

The dangerous appeal of ideologues

Ideologues have always been dangerous to international security. Ideologies of human freedom tend to promise perpetual peace. Yet, instead of transcending power politics, the ideals of human freedom are linked directly to hegemonic power by the self-proclaimed defender of the ideology. When ideologues firmly believe that the difference between the current volatile world and utopia can be bridged by defeating its opponents, it legitimizes radical power politics.

Consequently, there is no sense of irony among the McFauls of the world as US security strategy is committed to global dominance, while berating Russia for "revisionism." Raymond Aaron once wrote: "Idealistic diplomacy slips too often into fanaticism; it divides states into good and evil, into peace-loving and bellicose. It envisions a permanent peace by the punishment of the latter and the triumph of the former. The idealist, believing he has broken with power politics, exaggerates its crimes."

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.


Ghanima223 2 days ago 22 Jan, 2021 09:36 AM

In short, the tables have turned since the end of the Cold War. It is no longer communist ideologues that try to export revolution and chaos while the western world would promote stability and free markets. Now it's western ideologues that are trying to export revolutions and chaos while clamping down on free markets with Russia, as ironically as it sounds, being a force for stability and a strong proponent for the free exchange of goods and services around the world. The west will lose just as the USSR has lost.
US_did_911 Ghanima223 1 day ago 23 Jan, 2021 01:01 AM
The Dollar is the only fake reason that still keeps US afloat. The moment that goes, it loss will be a lot worse then of USSR.
US_did_911 Ghanima223 1 day ago 23 Jan, 2021 12:58 AM
That happened not exactly after the end of the cold war. It was about even for a decade after that. The real u-turn happened after the 9/11 false flag disaster.
Amvet 2 days ago 22 Jan, 2021 10:00 AM
Foreign dangers are necessary to keep the attention of the American people away from the 20 ton elephant in the room--the fact that 9/11 was not a foreign attack. Should any of the main stream media suddenly turn honest and report this in detail, things will get interesting.
King_Penda 2 days ago 22 Jan, 2021 09:11 AM
I wouldn't worry too much. At the same time Biden will be purging the US military of any men of capability and replacing them trans and political appointments. The traditional areas where the military recruited it's grunts are falling as they are waking up to the hostility of the state to their culture and way of life. The US military will end up a rump of queerss, off work due to stress or perceived persecution and fat doughballs sat in warehouses performing drone strikes on goats.
Fjack1415 King_Penda 1 day ago 23 Jan, 2021 01:20 PM
Yes, you point to a paradox. While the globalists are using the US as their military arm for global domination, they are at the same time destroying the country that supports that military. Perhaps the US military will be maintained by dint of its being the only employer for millions of unemployed young men in the American heartland, doughballs or not.
Ghanima223 King_Penda 2 days ago 22 Jan, 2021 09:39 AM
Ideologues will always be more concerned with having political reliable military leadership as opposed to actually qualified leaders. It took the Russians 2 decades to purge their own military of this filth of incompetent 'yes' men within their military.
UKCitizen 2 days ago 22 Jan, 2021 09:09 AM
'The Liberal International Order' - yes, that seems a fair description. Led by what might be termed 'liberal fundamentalists'.
far_cough 1 day ago 23 Jan, 2021 07:01 AM
the military industrial complex and the various deep state agencies along with the major corporations need russia as an adversary so that they can milk the american people and the people of the western world of their money, rights, freedoms, etc etc...
roby007 2 days ago 22 Jan, 2021 09:54 AM
I'm sure Biden will pursue "peaceful, productive coexistence" just as his friend Obama did, with drones and bombs.
Paul Citro 2 days ago 22 Jan, 2021 09:16 AM
I hope that Russian leaders fully realize that they are dealing with a country that is the equivalent of psychotic.
Fjack1415 Paul Citro 1 day ago 23 Jan, 2021 01:26 PM
True, the ruling party and MSM mouthpieces and their readers and followers are now truly INSANE. Beyond redemption. Staggering in the depth and power of the subversion of so many people, including many with high IQs (like my ex girlfriend and housemate in the US).
Anastasia Deko 2 days ago 22 Jan, 2021 10:57 AM
US security strategy is committed to global dominance
Absolutely. Biden has filled up his admin with "progressive realists," which when it comes to foreign policy, is just a euphuism for neocons and their lust for world empire. So expect an unleashing of forces in the coming two years that will finally humble America's war machine.
tyke2939 Anastasia Deko 2 days ago 22 Jan, 2021 01:07 PM
They are desperate for a war with someone but it must be someone they can beat convincingly. It certainly will not be Russia or China and I suspect Iran will be a huge battle even with Israel s backing. More than likely they will invade some country like Venezuela as Syria has Russia covering its back. What a dilemma who to fight.
9/11 Truther Anastasia Deko 2 days ago 22 Jan, 2021 11:24 AM
The "American war machine" has been humbled from Saigon, Vietnam 1975 to Kabul, Afghanistan.
Salmigoni 2 days ago 22 Jan, 2021 09:25 AM
They are not really liberals. They are blood thirsty parasitic neoconservative fascist war mongers working for the Pentagon contractors. General Eisenhower warned us about these evil people. A lot of Americans still do not get it.

[Jan 22, 2021] I wouldn't say that not accepting things at face value is a quot;bad habit quot; though this has caused me problems in the past and still does. Being sceptical and open-minded should be healthy attitudes. does. Being sceptical and open-minded should be healthy attitudes.

Jan 22, 2021 | www.moonofalabama.org

Jen , Jan 21 2021 23:08 utc | 174

James @ 168: I still like going to seminars and talks but in the current pandemic environment this has been difficult. I don't really like having to use Zoom to attend online talks but so many places use it now, it is unavoidable in spite of its security issues.

I wouldn't say that not accepting things at face value is a "bad habit" though this has caused me problems in the past and still does. Being sceptical and open-minded should be healthy attitudes. Of course having such attitudes does come with its own pitfalls, but this is how we have evolved as humans so they have some survival value.

[Jan 20, 2021] :ole Trotskyites and Bolsheviks neoliberals care only about one thing: disempowering and crushing anyone who dissents from and threatens their hegemony

Jan 20, 2021 | www.moonofalabama.org

James Cook , Jan 20 2021 1:21 utc | 71

"Neoliberalism and imperialism do not care about the pseudo-fights between the two parties or the cable TV bickering of the day. They do not like the far left or the far right. They do not like extremism of any kind. They do not support Communism and they do not support neo-Nazism or some fascist revolution. They care only about one thing: disempowering and crushing anyone who dissents from and threatens their hegemony. They care about stopping dissidents. All the weapons they build and institutions they assemble -- the FBI, the DOJ, the CIA, the NSA, oligarchical power -- exist for that sole and exclusive purpose, to fortify their power by rewarding those who accede to their pieties and crushing those who do not."

YUP Glenn Greenwald explains and sums up the future - it is really pretty simple.
https://www.informationclearinghouse.info/56212.htm

michaelj72 , Jan 20 2021 0:42 utc | 60

the democrats are led by a bunch of international sociopaths, pariahs, billionaire psychopaths, paranoid schizos, think tank imbeciles, and endless-war mongers - all of this fully enabled by a sycophantic a**-kissing and biased press which also has lost its common sense and collective mind. very sad!!!

I particularly like glenn Greenwald's take on some of this insanity...


https://twitter.com/ggreenwald/status/1351337763463958536

Glenn Greenwald @ggreenwald
Remember when Mueller spent 18 months and millions of dollars armed with a team of prosecutors and subpoena power, then closed his investigation after arresting *zero* Americans for conspiring with Russia?

Let's do it again! Anything to distract from how rotted neoliberalism is:


LOL. In that above clip, Hillary Clinton explicitly suggests that Trump was plotting with Putin on the day of the Capitol Riots, as if Putin directed it.

These people are the *last* ones with any moral standing to rant about conspiracy theories & disinformation.

[Jan 20, 2021] As Joe Biden takes over, the Democrats are still running scared as resurgent Russophobia reaches peak insanity by Robert Bridge

Jan 20, 2021 | www.rt.com

'The Russians did it' has become the mantra of the Democrats for every perceived indiscretion, even as they take control of the White House again. This baseless nonsense is only likely to gain in momentum over the next four years.

Once again, and despite major victories at the polls, the Democrats just can't stop hyperventilating over Russia. Indeed, the Russian people must feel as if they're trapped for all eternity in a remake of Groundhog Day , where one dominant theme continually repeats itself: Russia is to blame for absolutely everything that befalls the Democratic Party. In a radical departure from the original 1993 hit comedy, however, nobody ever learns any valuable lessons from the previous day so as to secure a better future. To quote a popular wit, ' same shit, different day .'

Even before Joe Biden has been able to escape from his basement and into the Oval Office, the hysterical wails and lamentations against Moscow are already being heard. The first ' blame Russia ' barb came from none other than Hillary Clinton, Barack Obama's former Secretary of State, who can't shake the conspiracy theory that she was denied the presidency because Donald Trump was apparently Vladimir Putin's secret ' Manchurian Candidate ,' or some such nonsense.

ALSO ON RT.COM 'Stolen election' hysteria is the new 'Russian interference' – and both are the result of US institutional erosion

In her podcast, called ' You and Me Both ,' Clinton interviewed equally unhinged Speaker of the House Nancy Pelosi about the 'invasion' of the Capitol building by Trump supporters on January 6. Without mentioning, of course, that the majority of Republican voters believe that the presidential election was stolen, Clinton tossed out yet more conspiracy-theory nonsense instead.

https://platform.twitter.com/embed/index.html?creatorScreenName=RT_com&dnt=false&embedId=twitter-widget-0&frame=false&hideCard=false&hideThread=false&id=1351354962392055811&lang=en&origin=https%3A%2F%2Fwww.rt.com%2Fop-ed%2F513096-biden-democrats-scared-russophobia%2F&siteScreenName=RT_com&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px

" I would love to see his phone records to see if he was talking to Putin the day the insurgents invaded our Capitol ," Clinton said, before asking Pelosi if she thought there needed to be a " 9/11-type commission " to investigate what happened on January 6.

Without pausing to consider the possible ramifications of dragging a nuclear-powered third party into a discussion over an 'insurrection' in Washington, DC, Pelosi happily ran with the insanity.

" These people, unbeknownst to them, they are Putin puppets, " the Speaker crowed. " They were doing Putin's business when they did that [stormed the Capitol] , at the incitement of an insurrection by the president of the United States. So, yes, we should have a 9/11 commission, and there is strong support in the Congress to do that ."

It is almost impossible to wrap one's brain around such psycho-babble. More difficult to comprehend is how so many Americans actually believe it. Somehow the thought never penetrates their soft skulls that, just maybe, after four years of being completely mocked and ridiculed by the mainstream media, and brazenly censored by Big Tech, Trump's 75 million supporters finally reached the end of their patience.

That's not an apology or justification for what transpired on January 6, of course, but rather a much more plausible explanation than the ridiculous ' Putin did it ' narrative.

In any case, there appears to be a good reason why Clinton and Pelosi are so desperate to rekindle the legend of the Russian bogeyman. That's because these two women share a common trait, which is their tendency to do very stupid things with their personal computers.

To briefly rehash ancient history, back in early 2015, it was discovered that then Secretary of State Clinton had been using her private home computer to transmit sensitive government documents, a federal offense. This marked the beginning of the anti-Russiagate juggernaut that has wrecked bilateral relations between Washington and Moscow.

ALSO ON RT.COM Snow job! SolarWinds 'Russian hack' story proves the media writes US foreign policy, not the White House

As the question of Clinton's emails – specifically the 31,000 that were said to have been deleted – took center stage in the 2016 presidential race, Donald Trump quipped during a rally: " Russia, if you're listening, I hope you're able to find the 30,000 emails that are missing ." As Trump went on to learn the hard way, never make a Democrat the butt end of a joke when they're cornered.

Not only did the Democrats use that offhand remark to say that Russia had hacked Clinton's email server, but they took the absurdity one step further, spreading the dangerous conspiracy theory that Russia had colluded with Trump to defeat Clinton in the quest for the White House. As a result, Trump spent the bulk of his four years in office defending himself from the fanatic Russiagate inquisition.

Ironically, Nancy Pelosi, whose laptop went missing from her office during the Boomer Selfie Tour 2021, which the Democrats are at pains to label an ' insurrection ,' finds herself in a similarly uncomfortable situation. According to retired Lieutenant General Thomas McInerney, Pelosi, and her fellow Democrats were " terrified " about what might be discovered on the missing laptop. So frantic, in fact, that, according to McInerney in the aftermath of the Capitol incident, " Pelosi called the Chairman of the Chiefs General Mark Milley and they're trying to get him [Donald Trump] out on the 25th Amendment or to impeach him ."

Whatever the real reason for the Democrats pushing for yet another impeachment, it does seem very strange that they would waste the time and energy to punish Trump yet again unless they were motivated by pure fear.

In any case, as fate would have it, it has been reported that Pelosi's laptop has been found. The suspect has been identified as Riley June Williams, 22, a native of Pennsylvania, who has since been arrested. For those who may be thinking, 'Wow! No sign of Russian intrigue,' you would be advised to control your premature ejaculations. According to the FBI affidavit , a ' former romantic partner ' of Williams said the woman devised a plan to ship the laptop to a friend in Russia, who then planned to turn it over to the SVR – Russian intelligence.

https://platform.twitter.com/embed/index.html?creatorScreenName=RT_com&dnt=false&embedId=twitter-widget-1&frame=false&hideCard=false&hideThread=false&id=1351328291844722689&lang=en&origin=https%3A%2F%2Fwww.rt.com%2Fop-ed%2F513096-biden-democrats-scared-russophobia%2F&siteScreenName=RT_com&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px

Does that story sound even remotely plausible? If the woman was truly a Trump supporter, wouldn't the obvious course of action be to simply turn over the device to the nearest Republican representative office? Why this incessant need to drag Russia into yet another American political scandal?

The reason, by now, is obvious. In the event that something truly disturbing from Pelosi's laptop is revealed, the Democrats will pounce on the ' Russia did it ' narrative. Then, instead of the media focusing on the real story – whatever may or may not be found on the laptop – the media will provide cover fire for the opening of yet another anti-Russia witch hunt.

Any future ' Russiagate 2.0 ' scenario, however, may have one major difference from the original. Following the 'insurrection' at the Capitol building, Democrats are itching to introduce ' domestic terrorism prevention' legislation, which will, if passed, have a chilling effect on the most basic freedoms, including the ability to gather in protest without being labeled ' domestic terrorists .'

ALSO ON RT.COM Do you realize now what you have done? US gets the kind of 'democracy' it championed overseas

The already drafted Domestic Terrorism Prevention Act opens with the following statement, which shows clearly who will be mostly targeted by such legislation (hint: not left-wing agitators, such as Antifa and Black Lives Matter): " Recent reports have demonstrated that White supremacists and other far-right-wing extremists are the most significant domestic terrorism threat facing the United States "

Although Russia, surprisingly, is not mentioned in the legislation, it does not take much imagination to foresee a day when some right-wing supporter, much like Riley June Williams, will find himself or herself embroiled in a high-profile criminal case involving the Democrats that has extremely dubious connections to Russia. Suddenly, an act of 'domestic terrorism' will magically morph into a 'state-sponsored' – i.e. Russia – act of terrorism.

Tragically, what started off as an innocent joke by Donald Trump about Russia and Clinton's emails has snowballed into the most dangerous scenario for average Americans: being pulled into a grand conspiracy theory that sees a Russian hand behind everything the Democrats see as a ' crime '.

In a rapidly approaching future, average Americans, portrayed as ' extremist ,' as well as distant Russia will become the new ' usual suspects ,' albeit with a possible 'terrorist' charge to boot. This descent into sheer madness must end before it reaches peak insanity.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.


Robert Bridge is an American writer and journalist. He is the author of 'Midnight in the American Empire,' How Corporations and Their Political Servants are Destroying the American Dream. @Robert_Bridge

[Jan 19, 2021] The US seems to have gone completely crazy these day.

Jan 19, 2021 | www.moonofalabama.org

vk , Jan 19 2021 18:40 utc | 2

The U.S. seems to have gone completely crazy these day.

Mutazione dello Stato.

We were born and raised in the 20th Century or the 21st Century, so we're accustomed with the idea that deep changes in society can only happen through revolutions. That's not true: Marx delineated in which conditions change happens through revolution, but he never stated all societal changes are revolutions.

A society can change positively or negatively. Positively when it is in an ascendant phase of its mode of production. Negatively when it is in a declining phase of its mode of production (every mode of production has an entropy, so this is always the case).

When it is changing negatively, it can do so mainly in two ways: sectarianism (decay through division and fragmentation) and/or withering (decay through shrinking of economic base and the rise of better systems).

In my opinion the USA is decaying through sectarianism.

We can observe today collapsed by sectarianism in the Middle East (Shia vs. Sunni; destruction of Iraq; destruction of Libya etc. etc.).

A famous example of collapse by withering is Ancient Sparta, which refused to reform and successfully crushed all the revolution attempts that rose against it. But in the end its own system reached its logical conclusion and, by the time the Roman Legions arrived to conquer it, it already was an insignificant village.

So, yes: even societies that successfully crush the revolution attempts against it are condemned to change and eventually disappear. Conservatives from all around the globe should not feed themselves the illusion they can live in their little worlds forever.


William Gruff , Jan 19 2021 20:57 utc | 24

vk @2

The American empire is massive and cannot really be compared with Sparta. It is entirely reasonable to assume that its demise involves both withering and fragmentation. That said I had previously assumed that the empire's vassal states would fragment away while the core withered, but given how unhinged America and its leadership have become we could see the cracks in the USA become chasms surprisingly soon. The empire's vassal states could be left orbiting around a debris field.

Mario , Jan 19 2021 21:09 utc | 28

After the USSR, the USA collapses

by Thierry Meyssan:

"Everything has an end, so do empires, both the United States and the Soviet Union. Washington has outrageously favoured a small camarilla of ultra-billionaires. Now it has to face its old demons, prepare for secession and civil war..."

"...Part of the power has already tipped democratic institutions into the hands of a few ultra-billionaires. The United States that we knew no longer exists. Their agony has begun."
https://www.voltairenet.org/article211982.html

[Jan 17, 2021] "79% of Americans think the US is falling apart" those not accounted for are possibly homeless or illiterate and don't have the opportunity of putting their view forward

Highly recommended!
In the reality the USA is not falling apart. It is neoliberalism that is falling apart and this is just how common people feel during the collapse of neliberalism.
Jan 17, 2021 | www.rt.com

OneHorseGuy 1 day ago 15 Jan, 2021 02:17 PM

"79% of Americans think the US is falling apart" those not accounted for are possibly homeless or illiterate and don't have the opportunity of putting their view forward.
RTaccount 1 day ago 15 Jan, 2021 02:22 PM
There will be no peace, no unity, and no prosperity. And there shouldn't be.
TheFishh RTaccount 1 day ago 15 Jan, 2021 03:38 PM
The US regimes past and present have worn out their bag of tricks. A magician is a con-man. And the only way they can entertain and spellbind the crowd with their routines is if everyone just ignores the sleight of hand. But people are starting to call the US out for the tricks it is pulling, and that's where the magician's career ends.
SJMan333 23 hours ago 16 Jan, 2021 01:02 AM
America as a whole is now reaping the fruits of its decades of exceptionalism complex. Through its propaganda machine, Americans as individuals and collectively as a society, have been brainwashed into believing that laws, rules and basic human decency do not apply to themselves. These are only sweetened poisons for them to shove down the throats of other lesser countries, especially those in Africa, Latin America, Middle East and Asia ((bluntly put, non-white countries)) when it suited America's global resource thievery and daylight wealth grabbing. Habitualized into bullying every other countries with no resistance, Americans are now showing their ugly faces on each other. The same exceptionalism delusion "the laws apply to you, not me'' is driving every American (except the colored Americans probably) to blame all the ills of the country on everyone else except himself. Nancy Pelosi advocated total lock-down but treated herself to a total grooming in a hair saloon is just one example. For the sins it has committed over the decades, I guess the time is right for USA to have a dose of its own medicine. Except in this case, America never thought it necessary to develop an antidote.

[Jan 15, 2021] Trump supporters are pushed into underground

I am strongly against balkanization of the country. The example of the USSR shows where it leads -- misery of common pople and dramatic drop of the standard of living, while new gand of ruthless oligarchs emerge from the ruins.
Jan 15, 2021 | www.rt.com

Pushing the Trump-inspired populist movement underground may only cause it to resort to more drastic measures. As the leftist libertarian reporter Glenn Greenwald observes ,

"these people know they are scorned and looked down upon... and the more you humiliate and make them feel powerless, the more you take away their ability to organize and express that rage, it's gonna find an outlet in more destructive ways."

As a former professor at a top-ranking university, I favored a Trump re-election, not because I support Trump so much as abhor what the opposition represents and is proving itself to be. In response to the social media threat to expression, I have inaugurated a new group on Telegram called 'Thought Criminals'. There, fellow 'thought deviationists' like me are able to express views that are effectively proscribed on mainstream social media platforms. No one among us advocates violence or the overthrow of the government. None of us is 'racist'. We advocate only the rights enshrined in the US Constitution.

But some groups, no doubt, are intent on violence. Yet the violent extremists consist mostly of Antifa and related 'activists', who will unfortunately trick Trump supporters into another error during the inauguration, like some appeared to do when involved in the Capitol siege. It's not as if violent extremists among the Trump base were always there, ready to pounce on any opportunity to express their "racist," "white nationalist" views.

Rather, as the rising party has already demonstrated, these people stand to lose the most under a Biden-Harris regime, whose Big Tech and mainstream media allies act as governmental enforcement apparatuses.

Trump supporters have been hated and demonized simply for wanting to live without being reprimanded and punished for their whiteness, their middle-Americanness, or their values. They face an anti-white, anti-native, anti-middle-America extremism that is set to silence and crush them into submission.

These and others will form a new underground under the prevailing ideological and political hegemony. This banishment of millions, and not Trump, is why the nation will fall apart, if indeed it does.


JJ_Rousseau 5 hours ago 15 Jan, 2021 02:58 PM

The best thing that could happen is for USA to "balkanize". For the rest of the world, and for Americans too. The founding fathers intentionally put restraints on the federal government's power to prevent the situation we now face. Both parties (actually the duopoly) are guilty of breaching the constitution, on so many levels we have lost count
Ronj14848 JJ_Rousseau 1 hour ago 15 Jan, 2021 07:23 PM
The USA have more American in uniform outside America than civilian Americans inside America. You bleed yourself dry trying to be the boss of the world.
chert JJ_Rousseau 3 hours ago 15 Jan, 2021 04:52 PM
Right, states should have more power than the federal government. Case in point: North Dakota is trying to pass a law to sue Facebook and Twitter for those who have been censored on those platforms. But federal law under Section 230 of the Communications Decency Act will supersede because federal law wins.
apothqowejh 4 hours ago 15 Jan, 2021 04:17 PM
As an American, I can't say a reckoning hasn't been overdue. The myopia in this country, and the tolerance for evil, was bound to rebound. From a refusal to honestly look at 9/11, a refusal to accept responsibility for Iraq, Libya, Syria, Afghanistan and a host of other insanely brutal blunders, to an acceptance of such horrors as the USAPatriot Act and the COVID scam, everyday Americans have obliviously sleepwalked into a totalitarian dystopia. Tyranny abroad inevitably leads to tyranny at home, and we have well-earned it by refusing to vote for peace and non-interventionism; for limited government, for responsible spending. Now our votes no longer matter, and we are caught helpless in the whirlwind of our own destruction.
newagerage apothqowejh 4 hours ago 15 Jan, 2021 04:33 PM
The CIA, NSA, Pentagon... all these corporations lead to disaster as the employees have to keep causing trouble to justify their jobs and spend, spend like crazy, the Army and intelligence agencies spending the hard worked money from Silicon Valley and other sectors. The country just doesn't make sense, first outsource jobs to China and then when they see that Chinese people are smarter than them outsource those to India? are Indians idiots? I don't think so... both countries will rule the World by the end of the century. And the most important of all... where is your public education system? you can live without a proper health system, China does, but without a decent public education system? most Americans don't know where Portugal or Belgium is placed, no matter black or white...
ceshawn 6 hours ago 15 Jan, 2021 02:31 PM
Trump didn't do this. The irrational reaction to Trump did this. It started with the now-fully mythological Russia-gate nonsense (that started with an almost ridiculously made up FISA warrant application). Continued through constant over-the-top challenges by Democrats of Trump following Obama-era laws (separation of children and adults for illegal border crossings) and the clear obstruction used by opponents during his entire Presidency. Trump was a disaster, Biden will be a nightmare (or a complete liar), but the left shouldn't be complaining when the reaction to their candidate is equally as disturbing as their reaction to the right (and yes, the circus that was the "raid" at the Capitol is just as bad as the intel community doing shady things against a sitting President).
Ronj14848 ceshawn 1 hour ago 15 Jan, 2021 07:27 PM
Trump didnt start new wars......but he has created a situation that foriegn wars will spring from his actions. He has created hate for a country that during the second world war was a much loved country.
billy brown ceshawn 4 hours ago 15 Jan, 2021 03:36 PM
What could the 'rioters' do? We aren't going to let them poison us anymore. This election will not be stolen and the new patriot act isn't going to get passed quietly. They are going to have to crush us or allow a partition of the country
ceshawn 5 hours ago 15 Jan, 2021 02:36 PM
If I were Russia or China, I would be watching carefully. Biden almost HAS to go after Russia over the Crimean disaster of Obama and China will be his easy-out enemy if things are complicated otherwise. North Korea will somehow become a big deal again as well. Let those missiles fly, because the incoming administration has a proven track record of blowing up innocent women and children for "funsies" (drone strikes on "suspected" terrorists...oh and their families) without any form of due process or care for the safety of collateral damage.
Ronj14848 ceshawn 58 minutes ago 15 Jan, 2021 07:36 PM
True...the media support the military industrial complex. Their friends own the miltary industrial complex . See who they support politically and avoid them like the plague.
Ronnie Spelbos ceshawn 2 hours ago 15 Jan, 2021 06:04 PM
if I was Russia or an Eastern European nation I would offer asylum to white heterosexual men and their families who want to leave the US. Take advantage of the brain capital and work ethic of this group. The US is no country for white men.
Ohhho 6 hours ago 15 Jan, 2021 01:41 PM
The Evil empire felt vulnerable so it lashed out with vengeance! None if it helps to fix the issues behind the problem so I expect to see more of it in the near future!
TheFishh Ohhho 5 hours ago 15 Jan, 2021 03:32 PM
There are literally just a few things the US can do to rebound as a decent country, but the establishment doesn't want to make those moves. They rather see everything collapse than see their wealth and power decreased by any amount.
OneHorseGuy 6 hours ago 15 Jan, 2021 02:17 PM
"79% of Americans think the US is falling apart" those not accounted for are possibly homeless or illiterate and don't have the opportunity of putting their view forward.
Ronnie Spelbos OneHorseGuy 2 hours ago 15 Jan, 2021 06:02 PM
102% think the US is falling apart - cites Dominion.
newswithoutbord OneHorseGuy 6 hours ago 15 Jan, 2021 02:31 PM
Spot on, mate!
RTaccount 6 hours ago 15 Jan, 2021 02:22 PM
There will be no peace, no unity, and no prosperity. And there shouldn't be.
TheFishh RTaccount 4 hours ago 15 Jan, 2021 03:38 PM
The US regimes past and present have worn out their bag of tricks. A magician is a con-man. And the only way they can entertain and spellbind the crowd with their routines is if everyone just ignores the sleight of hand. But people are starting to call the US out for the tricks it is pulling, and that's where the magician's career ends.
omyomy RTaccount 5 hours ago 15 Jan, 2021 02:54 PM
We the sane people know who is picking a fight. No matter what the propaganda outlets decree.
Tor Gjesdal 6 hours ago 15 Jan, 2021 02:18 PM
79%,sure? OK. Very soon 85% of Westerners will understand their Countries are heading for failures. They have been deceived for way too long.
Twenty Tor Gjesdal 5 hours ago 15 Jan, 2021 03:23 PM
The alternative to western governments is dictators, one party rule. Yes, most western governmental concepts are idealistic, but we wouldn't trade for anything else because we know better.
JIMI JAMES Tor Gjesdal 6 hours ago 15 Jan, 2021 02:31 PM
0 covid cases,i dont think so.
soumalinna1 4 hours ago 15 Jan, 2021 03:36 PM
Correct. America will never be the same again. Democrats and CNN destroyed a once great nation.
Ronnie Spelbos soumalinna1 2 hours ago 15 Jan, 2021 06:06 PM
The 1965 Immigration Act destroyed the US. A country too diverse with little in common was always bound the fall apart.
Drayk soumalinna1 3 hours ago 15 Jan, 2021 04:42 PM
How did they do that?

[Jan 15, 2021] Replacement of the Bill of Rights, with the Bill of Don'ts

Jan 15, 2021 | www.rt.com

In their efforts to expunge the Trump movement from memory let alone existence, these neo-Stalinists are hellbent on nullifying constitutionally guaranteed rights – freedom of speech, freedom of assembly, and the right to bear arms are under assault.

In place of the Bill of Rights, they would impose a Bill of Don'ts:

Don't say what we don't want to hear.

Don't gather where we don't allow, especially if you are a 'deplorable'.

Don't bother petitioning for grievances, because we don't care. Don't own weapons and don't defend yourself when you or your property are attacked, even as the police are defunded.

Don't tell us about your right to privacy because our right to surveil you supersedes it.

Don't tell us you have the right to confront the witnesses aligned against you, or see the evidence alleged against you, or to present evidence and witnesses in your own defense. That's your white privilege speaking, and we will not tolerate hate speech.

Don't expect us to be bound by due process or the rule of law. Feelings and desired outcomes trump facts and rules, both of which are tools of oppression, relics of the fascist patriarchy.

Don't object, or we will cancel you entirely from these Disunited States of Woketopia.

And first and foremost, don't dare have the temerity to question election results that have handed us uncontested power.

Only authoritarians sanction this state of affairs. The harm they will do, as they neglect and inflict further pain on the Republic, will be immeasurable. The nation is failing, not merely because it is divided, but because a contingent has rejected its foundational principles. That contingent is now in control.

[Jan 15, 2021] Blaming all its problems on foreign actors is the scapegoating and smoke screen over endemic US problems. Especially the vast social and economic inequality caused by neoliberalism and the destruction of the New Deal capitalism. Both parties seem unwilling or incapable of understanding what needs to be fixed in a fundamentally broken system.

Jan 15, 2021 | www.moonofalabama.org

karlof1 , Jan 15 2021 19:31 utc | 115

Strategic-Culture 's Editorial is the best journalistic reporting on the political split within the Outlaw US Empire I've come across. One short telling excerpt:

"This [blaming all its problems on foreign actors] is the ultimate scapegoating and destructive denial over endemic U.S. problems. Those problems are topped by the vast social and economic inequality that has been presaged by decades of neoliberal capitalism overseen by both Republicans and Democrats. Both parties seem unwilling or incapable of understanding what needs to be fixed in a fundamentally broken system . The rise of Trump was something of a diversion from addressing the root problem. And blaming Russia for ongoing problems is also another futile diversion. This systemic denial of reality by the American political class is why the U.S. crisis will continue to deteriorate because blaming everyone else but itself avoids the necessary ways and means to fix it ." [My Emphasis]

At least we're informed as to why there're no attempts to fix the problems as the Neoliberal Parasites don't want them fixed as they profit greatly as the turmoil shrouds their activities. The Editors agree with most of us at MoA in their prescription for a solution:

"The solution will require mass popular mobilization for democratic rights."

But that's just the sort of action that will be resisted by the Neoliberal Parasites. Will it take a reenactment of the Kent State shootings to galvanize the public? Unfortunately, I think that's very much the case, and there'll be more than one massacre.

Johannes Vermeer , Jan 15 2021 19:51 utc | 116

In the old ages in Greece Sparta oppressed the Helots with brute force during more than 400 years. This historical exmaple proves that rule through violent oppression can be quite stable. I doubt the elites in the USA have enough 'Spartan qualities' to organize the same violent oppression that long, my point is however that it is a proven possibillity

[Jan 14, 2021] After the illegitimate elections, the task is to consolidate power and suppress all those who reject what happened. This is what happened in Ukraine after the Maidan 2014

Highly recommended!
And that's what false flag with Capitol ransacking accomplished. It fives Clinton/Obama/Biden clique card blank for suppressing the dissent
This false flag operation like shooting protesters by snipers during Ukrainian Maydan is a logical end of American Maidan and pursued the same goals -- deposing the current president, hijacking political power and consolidating it via repressions.
Notable quotes:
"... That is why we are witnessing the fussy, aggressive actions of the Democrats - a ridiculous re-impeachment of the president, who will leave the White House in a week, the most severe censorship and suppression of dissent. There is no need for the real winners of fair elections to behave like that, as they are aware of their legitimacy and are confident in themselves (relying on the real, not imaginary, support of the majority of the population). ..."
Jan 14, 2021 | www.moonofalabama.org
alaff , Jan 13 2021 20:31 utc | 7

From the "Biden Exploits His Capitol Gains" article:


Joe Biden's own language certainly sounded less like a magnanimous winner uniting his people than like that used by autocrats and dictators to hold onto power, argues Diana Johnstone.

Diana Johnstone's opinion is quite reasonable. In fact, a "creeping"/"bureaucratic" coup d'etat took place in the United States. And it wasn't Trump at all, but Biden & Co. The fact that "Joe Biden's own language sounded like that used by autocrats and dictators to hold onto power" is further confirmation of this.

If you are in the majority and you win the election honestly, then there is no need to act the way the Democrats did. The current aggressive rhetoric of Biden (and other Democrats) is evidence that the elections were stolen/falsified. Biden knows this very well, and therefore his language is as cruel, irreconcilable and repressive as possible. After the illegitimate elections, the task is to consolidate own's power and suppress all those who reject what happened. In fact, this is what happened in Ukraine after the Maidan 2014.

That is why we are witnessing the fussy, aggressive actions of the Democrats - a ridiculous re-impeachment of the president, who will leave the White House in a week, the most severe censorship and suppression of dissent. There is no need for the real winners of fair elections to behave like that, as they are aware of their legitimacy and are confident in themselves (relying on the real, not imaginary, support of the majority of the population).

Wrote some thoughts on this issue.

Leftraru , Jan 13 2021 20:33 utc | 8

Globalization has made the United States a hollow giant. It has produced an enormous wealth gap, and this inequality is producing a breakdown in social cohesion. They have faced crisis before in the form of political polarization, economic hardship and racial tensions, but the situation now is a combination of every one of the mentioned before amplified by orders of magnitude by the pandemic.
The power of the MIC, Wall Street and Big Tech along with their MSM minions acting in a concerted way is the only thing preventing an implosion of the country. Either that or the notion of "American Exceptionalism" is truly implanted in the hearts and minds of the people, whether they realize it or not.

[Jan 11, 2021] Is America's Future a Civil War, by Paul Craig Roberts -

Notable quotes:
"... The military would support whomever pays their salary and their pensions, i.e. the Establishment. However, as Iraq and Afghanistan has shown, the U.S. military, while possessing remarkable firepower when taken on directly and openly, is quite vulnerable. The U.S. military is essentially mercenaries. Mercenaries work for pay. Mercenaries are not willing to die for a cause. You can't spend money if you're dead. ..."
Jan 11, 2021 | www.unz.com

As a person who grew up in the glorious aftermath of World War II, it never occurred to me that in my later years I would be pondering whether the United States would end in civil war or a police state. In the aftermath of the stolen presidential election, it seems a 50-50 toss up.

There is abundant evidence of a police state. One feature of a police state is controlled explanations and the suppression of dissent. We certainly have that in abundance.

Experts are not permitted forums in which to challenge the official position on Covid.

Teachers are suspended for giving offense by using gender pronouns.

Recording stars are dropped by their recording studios for attending the Trump rally. Parents ratted on by their own children are fired from their jobs for attending the Trump rally. https://www.rt.com/usa/512048-capitol-riot-employees-fired/ Antifa is free to riot, loot, intimidate and hassle, but Trump supporters are insurrectionists.

White people are racists who use hateful words and concepts, but those who demonize whites are righting wrongs.

Suppression of dissent and controlling behavior are police state characteristics. It might be less clear to some why dictating permissible use of language is police state control. Think about it this way. If your use of pronouns can be controlled, so can your use of all other words. As concepts involve words, they also can be controlled. In this way inconvenient thoughts and expressions along with accurate descriptions find their way into the Memory Hole.

With the First Amendment gone, or restricted to the demonization of targeted persons, such as "the Trump Deplorables," "white supremacists," "Southern racists," the Second Amendment can't have much life left. As guns are associated with red states, that is, with Trump supporters, outlawing guns is a way to criminalize the red half of the American population that the Establishment considers "deplorable." Those who stand on their Constitutional right will be imprisoned and become cheap prison labor for America's global corporations.

Could all this lead to a civil war or are Americans too beat down to effectively resist? That we won't know until it is put to the test.

Are there clear frontlines? Identity Politics has divided the people across the entire country. The red states are only majority red. It is tempting to see the frontiers as the red center against the blue Northeast and West coasts, but that is misleading. Georgia is a red state with a red governor and legislature, but there were enough Democrats in power locally to steal the presidential and US senate elections.

Another problem for reds is that large cities -- the distribution centers -- such as Atlanta, Detroit, Chicago, New York, Philadelphia, Seattle, Portland, San Francisco, Los Angeles -- are in blue hands as are ports and international airports. Effectively, this cuts reds off from outside resources.

What would the US military do? Clearly, the Joint Chiefs and the military/security complex are establishment and not anti-establishment Trumpers. With the soldiers themselves now a racial and gender mix, the soldiers would be as divided as the country. Those not with the Establishment would lack upper level support.

Where are the youth and younger adults? They are in both camps depending on their education. Many of the whites who went to university have been brainwashed against themselves, and regard white Americans as "systemic racists" or "white supremacists" and feel guilt. Those who did not go to university for the most part have experienced to their disadvantage the favoritism given to people of color and have resentment.

What about weapons? How can the reds lose when guns are a household item and blues would never dirty themselves by owning one? The answer is that unlike the War of Northern Aggression in the 1860s, today the weapons in the hands of the military are devastating compared to those in the hands of the public. Unlike in the past, it is impossible for a citizens' militia to stand against the weapons and body armor that the military has. So, unless the military splits, the reds are outgunned. Never believe that the Establishment would not release chemical and biological agents against red forces. Or for that matter nuclear weapons.

What about communications? We know for an absolute fact that the tech monopolies are aligned with the Establishment against the people. So much so that President Trump, in the process of being set-up for prosecution, has been cut off from communicating with his supporters both in social media and email.

The American Establishment is doing to President Trump exactly what it did to Ukrainian President Yanukovych in Washington's orchestrated "Maidan Revolution," called "the Revolution of Dignity" by the liars at Wikipedia, and precisely what it did to Chavez, Maduro, and would like to do to Putin.

Suppose an American civil war occurs. How is it likely to play out? Before investigating this, first consider how the Establishment could prevent it by bringing the red states to its defense. The Trump supporters are the only patriots in the American population. They tend to wear the flag on their sleeve. In contrast, blue state denizens define patriotism as acknowledging America's evils and taking retribution on those white racists/imperialists who committed the evils. In blue states, riots against the "racist system" result in defunding the police. If the Antifa and Black Lives Matter militias were sicced on the Biden regime, red state patriots might see "their country" under attack. It is possible that the "Proud Boys" would come to Biden's defense, not because they believe in Biden but because America is under attack and he is "our president." Alternatively, an Antifa attack on the Biden regime could be portrayed as an unpatriotic attack on America and be used to discourage red state opposition to the police state, just as "Insurrection" has resulted in many Trump supporters declaring their opposition to violence. In other words, it is entirely possible that the patriotism of the "Trump Deplorables" would split the red state opposition and lead to defeat.

Assuming that the Establishment is too arrogant and sure of itself or too stupid to think of this ploy, how would a civil war play out? The Establishment would do everything possible to discredit the case of the "rebels." The true rebels, of course, would be the Establishment which has overthrown the Constitutional order, but no media would make that point. Controlling the media, the Establishment, knowing of the patriotism of its opponents, would portray the "rebels" as foreign agents seeking to overthrow American Democracy.

The "foreign threat" always captures the patriot's attention. We see it right now with Trump supporters falling for the disinformation that Switzerland and Italy are behind the stolen election. Previously, it was Dominion servers in Germany and Serbia that did the deed.

On whose head will the Establishment place the blame for "the War Against America"? There are three candidates: Iran, China, and Russia. Which will the Establishment choose?

To give Iran credit conveys too much power to a relatively small country over America. To blame Iran for our civil war would be belittling.

To blame China won't work, because Trump blamed China for economically undermining America and Trump supporters are generally anti-China. So accusing the red opposition with being China agents would not work.

The blame will be placed on Russia.

This is the easy one. Russia has been the black hat ever since Churchill's Iron Curtain speech in 1946. Americans are accustomed to this enemy. The Cold War reigned from the end of World War II until the Soviet Collapse in 1991. Many, including retired American generals, maintain that the Soviet collapse was faked to put us off guard for conquest.

When the Establishment decided to frame President Trump, the Establishment chose Russia as Trump's co-conspirator against American Democracy. Russiagate, orchestrated by the CIA and FBI, ensured for three years that Trump was accused in the Western media of being in cahoots with Russia. Despite the lack of any evidence, a large percentage of the American and world population was convinced that Trump was put into office by Putin somehow manipulating the vote.

The brainwashing was so successful that three years of Trump sanctions against Russia could not shake the Western peoples back into factual reality.

With Russia as the historic and orchestrated enemy, whatever happens in the United States that can be blamed elsewhere will be blamed on Russia. House Speaker Nancy Pelosi, former US Ambassador to Russia Michael McFaul, and former Deputy National Security Advisor Ben Rhodes have already associated "Trump's insurrection" with Russia. https://www.rt.com/russia/512071-capitol-violence-consequences-fear/

Suppose that an American civil war becomes intense. Suppose that the Establishment's propaganda against Russia becomes the reigning belief as propaganda almost always becomes, how can the Establishment not finish the insurrection threat by attacking the country responsible? The Establishment would be trapped in its own propaganda. Emotions would run away. Russia would hear threats that would have to be taken seriously.

You can bet that Biden's neocon government will be egging this on. American exceptionalism. American hegemony. Russia's fifth column, the Atlanticist Integrationists, who wish absorption into the degenerate and failing Western World, will echo the charges against Russia. This would make the situation a serious international incident with Russia as the threatened villain.

What would the Kremlin do? Would Russia's leaders accept yet another humiliation and false accusation? Or will the anger of the Russian people forever accused and never stood up for by their own government force the Kremlin into awareness that Russia could be attacked at any moment.

Even if the Kremlin is reluctant to acknowledge the threat of war, what if another of the numerous false warnings of incoming ICBMs is received. Unlike the past, is it believed this time?

The stolen election in America, the emerging American Police State, more vicious and better armed than any in the past, could result in American chaos that could be a dire threat to the Russian Federation.

What Trump and his supporters, and perhaps the Kremlin, do not understand is that real evidence no longer counts . The Establishment makes up the evidence that it needs for its agendas. Consider how easy it was for the Capitol Police to remove barriers and allow some Antifa mixed in with Trump supporters into the Capitol. This was all that was required to create a "Trump led insurrection" that terminated the presentation of evidence of electoral fraud and turned the massive rally of support for Trump into a liability. Trump now leaves the presidency as an "insurrectionist" and is set up for continued harassment and prosecution.

As I previously wrote, the stolen election and its acceptance abroad signifies the failure of Western democracy. The collapse of the Western world and its values will affect the entire world.


Joe Stalin , says: January 10, 2021 at 5:16 pm GMT • 23.4 hours ago

How long did it take for the mighty USA military to restore electric utilities in the face of insurgency in Iraq?

https://www.youtube.com/embed/gg-Zd193j60?feature=oembed

No member of the State wants to be picked off one by one, be it military, cops, leadership or functionaries.

What has been overlooked in the debate over the combat potential of violent extremists is the diffusion of something much more rudimentary and potentially more lethal: basic infantry skills. These include coordinated small-team tactical maneuvers supported by elementary marksmanship. The diffusion of such tactics seems to be underway, and it may generate serious concerns for U.S. security policy in the future if ignored.

https://warontherocks.com/2018/02/shock-of-the-mundane-the-dangerous-diffusion-of-basic-infantry-tactics/

Imagine if fuel pipe lines to urban areas were hit, railroad tracks hit, water processing facilities hit; the vision of an easy victory over Red America would quickly come home to the city dwellers.

Harry Huntington , says: January 10, 2021 at 6:02 pm GMT • 22.6 hours ago
@Joe Stalin /p>

Elections in the US are not about picking winners. They are about making voters complicit in governance by their having voted. The most recent election failed to make the Red voters "complict" because there was no transparency and everyone believes there was fraud. No election with mail in voting in the US will every work because everyone will assume fraud.

In a nation as large as the US with as much concentrated city living, logistics are a nightmare. The next time the lights go out, you may wonder. When your grocery chain runs out of meat, you may wonder. When sewers in your city keep breaking, you may wonder. Thus truly scares me.

Vidi , says: January 10, 2021 at 6:13 pm GMT • 22.4 hours ago

today the weapons in the hands of the military are devastating compared to those in the hands of the public

True enough. However, the weapons and the ammunition don't magically appear; they need to be manufactured somewhere, and those places (and/or their suppliers) can be destroyed.

TG , says: January 10, 2021 at 6:19 pm GMT • 22.3 hours ago

I must disagree. There will be no "civil war" in the United States. The establishment controls the levers of power and all communications and all organized structures. There may be a bunch of disaffected citizens, but they will remain a disorganized mob. Any apparent emergent rival for power will be ruthlessly suppressed, deplatformed, villified, or co-opted. The working class has been effectively divided and will waste its energy fighting itself over crumbs ('diversity').

Disorganized mobs do not fight civil wars.

No, the fate of the United States will be the sort of chaotic autocracy we see in places like Mexico and Brazil. Verging on being a failed state, the rich will nonetheless live lives of great luxury secure in their walled estates. Meanwhile the average person will be crushed into poverty, criminal gangs will flourish, and there will be a tension between the central police and local gangs, but gangs are rarely organized enough to truly challenge centralized states, and life will muddle on. There will be little social cohesion and no real trust of central authorities, but that only matters if you want a strong and unified society. The rich will do fine.

On the other hand, the overall national power will decline, and other powers like China (which for all its flaws has not declared war on the working class, nor does it routinely excuse or celebrate incompetence in leadership) will rise and take its place both on the world stage and as the cutting edge of science and culture.

Wyatt , says: January 10, 2021 at 6:48 pm GMT • 21.8 hours ago
@Vidi

And the people making them don't tend to want those weapons used against their friends and neighbors.

Notsofast , says: January 10, 2021 at 8:03 pm GMT • 20.6 hours ago

to me the biggest outcome of this faux coup/insurrection is the splintering of the republican party. with this schism the trump "populists" have been cleanly pared off of the party and thrown overboard and the remaining party will meekly do the bidding of the neocon deep state that now totally controls both of these sock puppet parties. we will now see both parties calling for a unification of our "indispensable nation". more than likely some false flag will provide the necessary impetus to bury the hatchet and focus us all on our new/old enemy. the only hope i see is an outside chance that so many republicans have been redpilled that the party becomes the new whigs and fades into obscurity, leaving room for new parties to rise from the ash. the dems are ripe for a schism themselves with aoc champing at the bit to kick the boomers to the curb and the bernie bros finally realizing that three card monty is a rigged game. i would love to see the destruction of both of these hopelessly corrupt parties but the deep state cthulhu has its tentacles thoroughly wrapped around our poor planet and anything emerging out of this toxic mess would most likely be even worse. the situation reminds me of voltaire's candide and his sage advice to cultivate your garden.

Anon [912] Disclaimer , says: January 10, 2021 at 8:26 pm GMT • 20.2 hours ago

I'd advise the young to develop a "plan B". Pick another country you find bearable amd study it. Find out what jobs are in demand there. Develop those skills in your spare time (computers, electricians, mechanics, etc.). Practice their language an hour or two per week with online resources/dvd's/books. Research their immigration laws and perhaps contact their embassy.

If it gets really awful for whites here, you may be able to take your family some place more hospitable. Hopefully none of this will be neccessary and the rhetoric will tone down. Trump personally really got under the left's skin. Don't umderestimate Hillary's supporters influence here. They were ticked off. The Obama's too. Perhaps they will calm down a notch now. Have a plan B though young whites.

Citizen of a Silly Country , says: January 10, 2021 at 11:17 pm GMT • 17.4 hours ago

Another insightful article by PCR. However, I must somewhat disagree on some points.

What would the US military do?

The military would support whomever pays their salary and their pensions, i.e. the Establishment. However, as Iraq and Afghanistan has shown, the U.S. military, while possessing remarkable firepower when taken on directly and openly, is quite vulnerable. The U.S. military is essentially mercenaries. Mercenaries work for pay. Mercenaries are not willing to die for a cause. You can't spend money if you're dead.

Think of the Troubles in Ireland.

The Establishment absolutely can deliver a punch to an identifiable opponent, but it can't take a punch. Low level violence directed at officers and politicians would bring them to their knees.

Controlling the media, the Establishment, knowing of the patriotism of its opponents, would portray the "rebels" as foreign agents seeking to overthrow American Democracy.

I agree that they will try. However, I suspect that PCR is underestimating how little faith many whites have in the media.

The Establishment will never be more powerful than it is today. They have inherited institutions, the people to man those institutions and a generally functioning economy. Basically, they stole the keys to car that they didn't create. But the Establishment run those institutions and economy into ground. They will slowly start to show cracks.

Whites need to stay low, start forming small groups and begin preparing for the openings that will come.

Dr. Robert Morgan , says: January 11, 2021 at 1:34 am GMT • 15.1 hours ago

The racial right has been fantasizing about a civil war since forever, but I can't see it. Too many people have too much to lose, there's no real desire for blood, and the people are anyway too soft to initiate or withstand the violence real war would unleash upon them. Further, and in stark contrast to the SJWs and antifa, the few racially conscious whites who fantasize about this are mostly too old to make good soldiers. Also, just like the "God emperor" himself, Trumpers are some of the stupidest people on the face of the earth, largely down with their own enslavement, nauseatingly fond of "law and order", sporting "Blue Lives Matter" badges, etc. Despite being preyed upon by blacks and browns for decades now, they still refuse to become racist. Most of them are Bible thumpers who really believe that race is just skin color, that all are equal before their imaginary friend called God, and that Israel is America's greatest ally. Then too, vast numbers of whites work for the government or its many offshoots such as education, law enforcement, the military, and the defense industry. Civil war would mean they'd be revolting against themselves.

Will America become a police state? In case you haven't noticed, Americans already live in a police state, and have for decades. PCR should know this as well as anyone, as he was part of it during the Reagan years. America is an open-air prison Americans built themselves, and they rat each other out and betray each other to keep themselves ideologically in line. When someone white is doxxed and fired for having bad thoughts, who do you think does the enforcing? For the most part, it's other white people. Fake president and China asset Biden is just the new warden.

Harold Smith , says: January 11, 2021 at 3:45 am GMT • 12.9 hours ago

As a person who grew up in the glorious aftermath of World War II, it never occurred to me that in my later years I would be pondering whether the United States would end in civil war or a police state. In the aftermath of the stolen presidential election, it seems a 50-50 toss up.

In a very meaningful sense we already have a "police state." Why do we have a police state? Because our masters realize that they can't run the whole world from anything resembling a constitutional republic (as the Founders and Framers envisioned it). It's the agenda for complete world domination and control that's driving the domestic oppression. As they continue to squander everything of value on the agenda and take more risks, etc., while the corruption and rot continue to take a toll and the country crumbles, the boot will need to come down ever harder on the neck.

And please stop kidding yourself about Trump. It wasn't for the benefit of Joe and Jill Sixpack that he seized Syrian oilfields, tried to start a war with Iran, tried to overthrow the Maduro government in Venezuela, tried to stop Nord Stream 2, started a trade war with China, pulled out of all the nuclear treaties, etc. Trump wasn't just fully onboard with the agenda, he pursued it enthusiastically.

If Trump's nuclear brinkmanship and aggressive foreign policies aren't promptly reversed, the U.S. may end as a pile of nuclear ash. Comments coming out of Moscow recently seem to suggest that Russia is finally losing its patience with interminable U.S. hostility and may soon start responding more forcefully to U.S./NATO provocations (and Biden's tough talk on Russia isn't helping matters any).

Neither Russia, China nor Iran are going to surrender to the USraeli empire and start taking orders, so either the U.S. "government" must back off and accept a multipolar world or WW3 is still on the table, even by accident.

tanabear , says: January 11, 2021 at 5:45 am GMT • 10.9 hours ago

From Thucydides' History of the Peloponnesian War.

The Civil War in Corcyra

"So savage was the progress of this revolution, and it seemed all the more so because it was one of the first which had broken out. Later, of course, practically the whole of the Hellenic world was convulsed, with rival parties in every state – democratic leaders trying to bring in the Athenians, and oligarchs trying to bring in the Spartans. In peacetime there would have been no excuse and no desire for calling them in, but in time of war, when each party could always count upon an alliance which would do harm to its opponents and at the same time strengthen its own position, it became a natural thing for anyone who wanted a change of government to call in help from outside.

So revolutions broke out in city after city, and in places where the revolutions occurred late the knowledge of what had happened previously in other places caused still new extravagances of revolutionary zeal, expressed by an elaboration in the methods of seizing power and by unheard-of atrocities in revenge. To fit in with the change of events, words, too, had to change their usual meanings . What used to be described as a thoughtless act of aggression was now regarded as the courage one would expect to find in a party member; to think of the future and wait was merely another way of saying one was a coward; any idea of moderation was just an attempt to disguise one's unmanly character ; ability to understand a question from all sides meant that one was totally unfitted for action. Fanatical enthusiasm was the mark of a real man, and to plot against an enemy behind his back was perfectly legitimate self-defence. Anyone who held violent opinions could always be trusted, and anyone who objected to them became a suspect. To plot successfully was a sign of intelligence, but it was still cleverer to see that a plot was hatching. If one attempted to provide against having to do either, one was disrupting the unity of the party and acting out of fear of the opposition. In short, it was equally praiseworthy to get one's blow in first against someone who was going to do wrong, and to denounce someone who had no intention of doing any wrong at all. Family relations were a weaker tie than party membership , since party members were more ready to go to any extreme for any reason whatever. These parties were not formed to enjoy the benefits of the established laws, but to acquire power by overthrowing the existing regime ; and the members of these parties felt confidence in each other not because of any fellowship in a religious communion, but because they were partners in crime. If an opponent made a reasonable speech, the party in power, so far from giving it a generous reception, took every precaution to see that it had no practical effect.

As the result of these revolutions, there was a general deterioration of character throughout the Greek world . The simple way of looking at things, which is so much the mark of a noble nature, was regarded as a ridiculous quality and soon ceased to exist. Society had become divided into two ideologically hostile camps , and each side viewed the other with suspicion. As for ending this state of affairs, no guarantee could be given that would be trusted, no oath sworn that people would fear to break; everyone had come to the conclusion that it was hopeless to expect a permanent settlement and so, instead of being able to feel confident in others, they devoted their energies to providing against being injured themselves."

Just another serf , says: January 11, 2021 at 6:04 am GMT • 10.6 hours ago

Whether civil war as we may imagine it, or something equally unappealing to our every day lives, something bad is about to happen.

I'm curious though, regarding what I do believe was unprecedented election fraud. How is it possible, after watching the Georgia State Farm arena video, that the President of the United States, with all the power that office should hold, could not force the woman identified in that video, one Ruby Freeman, to answer questions about what we saw? Ruby Freeman was never questioned as far as I can find. How is this possible? Nothing makes sense. Before we begin killing one another, can we do two things; 1. Interrogate Ruby Freeman and 2. Interrogate the killer of Ashli Babbit?

Zarathustra , says: January 11, 2021 at 6:24 am GMT • 10.2 hours ago

Little bit feverish article. And I do have to say no.
Civil war can happen only after hyperinflation accompanied with lawlessness.
And that will happen only if US looses its international position.
Everything depend now on Germany.
If Germany joins China Russia camp than US as a world leader will not mean anything anymore.
China now is courting Europe intensively. Particularly is courting Germany.
Nothing is set yet.
So everybody can relax.
.
Biden is out of his mind. In his speech he said that he wants to increase minimum wage and reestablish unions. That could be a little help also.

shylockcracy , says: January 11, 2021 at 6:58 am GMT • 9.7 hours ago

People living in the core areas of Ziocorporate globalism, like the US/EU, remain mostly oblivious about the nature of their ruling regime than those living in the direct periphery of globalist power. Take Colombia for an example, like Mexico's, all its presidents are subservient to US Ziocorporate power. Last one, a Nobel peace prize winner under whose pre-presidential stint as "Defense" minister oversaw the US-serving Colombian military's systematic massacre of tens of thousands of lower class Colombian youths who were then disguised as guerrillas to cash in rewards paid US Plan Colombia dollars, proceeded, now as president, to negotiate the disarmament of the actual guerrillas under the Obama/Biden regime's orders. Massmurder and massacres maintained an average level.

Then, in 2018, right after the Trumpet, a shamelessly pro-US regime, even for Colombian standards, took over and massacres and massmurder picked right up again, to an average of 2 or 3 per week, with exploding cocaine production even for Colombia standards as well, and extreme political polarisation, and all the while the Ziocorporate mother ship in Washington, with its Qtard and MAGA bullshit, looked the other way except to accuse Venezuela of being undemocratic and of human rights violations.

If Americans weren't so stupid and daydreaming like fucktards that they live in "muh democracy/republic" instead of the Ziocorporate conglomerate regime that rules over them, they could take a clue or two from their own regime's foreign policy, not only did Trumpet do things like transferring $400 billion in weapons to ISIS/al-Qaeda royal Salafi patrons in Ziodi Wahhabia, he doubled-down on the Obama/Biden policy of Venezuela "is a national security threat to muh democracy and freedom"; to start pondering about the kind of manipulation and radicalisation Ziocorporate agents Trump/Republicans and Biden/Democrats have in store for them. Cointelpro certainly mutates far faster than Covid-1984.

Happy New World Order and Great Reset.

shylockcracy , says: January 11, 2021 at 7:17 am GMT • 9.4 hours ago
@catdog i-deep state" character is actually the opposite of:

"White House teams up with Google to build coronavirus screening site"
https://techcrunch.com/2020/03/13/white-house-teams-up-with-google-to-build-coronavirus-screening-site/

What do Qtarts and the like need to realise this simple, evident facts? That the Trumpet himself comes on national TV telling you all "I and the Democrats have been playing divide and conquer with you dumbfucks for 4 years"?

Feeling that anti-deep state MAGA magick yet?

Miro23 , says: January 11, 2021 at 7:25 am GMT • 9.2 hours ago

The American Establishment is doing to President Trump exactly what it did to Ukrainian President Yanukovych in Washington's orchestrated "Maidan Revolution," called "the Revolution of Dignity" by the liars at Wikipedia, and precisely what it did to Chavez, Maduro, and would like to do to Putin.

What Trump and his supporters, and perhaps the Kremlin, do not understand is that real evidence no longer counts . The Establishment makes up the evidence that it needs for its agendas.

Their playbook "Rules for Radicals: A Pragmatic Primer for Realistic Radicals" by Saul D. Alinsky, makes it clear that it's necessary to play dirty. This covers all aspects of their Regime Change projects and the current US project surely isn't any different.

It's a cocktail of lies, fabrications, subversion, threats, blackmail, false friendships – in fact any means to advance themselves.

For example: From Alinsky – "Means and Ends" His take on morality:

Rule 10) You do what you can with what you have and clothe it with moral garments.

Rule 11) Goals must be phrased in general terms like "Liberty, Equality, Fraternity", "Of the Common Welfare, "Pursuit of Happiness" or "Bread and Peace".

So yes, this is why the most unpatriotic Patriot Act is called the Patriot Act and they operate from patriotic sounding places like the American Enterprise Institute.

If traditional America is going to get anywhere in the upcoming conflict they have to get used to playing by the same rules – difficult for them – but they have to do it. It's inevitably going to be a dirty war.

Abdul Alhazred , says: January 11, 2021 at 8:01 am GMT • 8.6 hours ago

Point of order- Russia is not the historic enemy, but the orchestrated one, rather it was the Soviet Union which is the historic enemy, as the sponsors of the destruction of Russia are behind the destruction of America.

Carlos22 , says: January 11, 2021 at 8:09 am GMT • 8.5 hours ago

We are already in a police state and you can kiss goodbye to the 1st and 2nd amendment soon as free speech becomes hate speech just like they did in Europe.

So this site and many others in the alt news universe will soon be gone.

There's not going to be a civil war as the current generation of young people are too weak and distracted and have been brainwashed into hating themselves.

There's a big elephant in the room and wild card that's been missed too and that's the new covid vaccines who's long term effects on health are unknown.

Vaccines need to be studied for about 10 years before their safety can be guaranteed.

If tens / hundreds of millions are willing to be injected with a new untested genetic engineered substance that could make them disabled or kill them in 5 years to save them against something with a 99% survival rate what does that tell you about the mental state of the Population?

The US as you once knew it is finished it's just that many are still in denial or haven't realized it yet.

noname27 , says: Website January 11, 2021 at 8:34 am GMT • 8.1 hours ago

I see no civil war in the USA. I see no organisation amongst the people in order to carry it out. They have no leader, they have no Hannibal, Boadicea or Adolf to rally them together for a major insurrection against The Beast Empire. Unless of course something is brewing secretly.

A French style form of resistance, as previously mentioned in these comments, also takes a lot of planning and organisational skills, and I see no inkling of that taking place amongst American patriots.

I also believe many do not realise how serious the matter is, they still, being bogged down in irrelevant party politics.

If however a large swathe of the police and US Military including officers were to desert their corrupt masters, things would look very different and a civil war could happen.

Ilya G Poimandres , says: January 11, 2021 at 8:39 am GMT • 8.0 hours ago

The civil was has been on since Crossfire Hurricane, the usurpers of the constitution simply kept it cold because they thought they could enforce their tyranny silently.

And if Trump surrenders then they would have been proven right, at least for the leadership fight.

Biden will likely launch a war because he already has his bay of pigs with his graft, and will need a moonshot for the misdirection.

I don't think they can fight half the nation (and the military will split), and Russia at the same time, so the only question is on whom the war will be launched. I still think the odds are higher that it will be a civil war, but the Russia option looms strong for sure.

TKK , says: January 11, 2021 at 9:39 am GMT • 7.0 hours ago

The US military is the most "woke" diverse incompetent organization in America.

Remember- contractors do all the heavy lifting "in theater"- from cooking to plumbing to firefighting to IT to combat.

This knowledge is hidden from view- kept on the down low.I only know because my brother has worked in Iraq and Afghanistan for KBR for the past 15 years. I have seen him accumulate well over Half a million in cash. What does he do? He makes sure the troops have water and food. He is in logistics. For the past decade I have heard hundreds if not thousands of stories of the jaw dropping incompetence, insouciance and laziness of the American military.

Rank-and-file Americans, indeed no one, talks about this very real infrastructure that props up every dumb, overweight enlisted. About 4 contractors to every enlisted.

Most of the contractors in theater are from Eastern Europe and sub Sahara Africa. If they were given orders to release biological or chemical weapons on the American populace, as long as the huge checks were hitting their account they would do it in a heartbeat

More than the military- fear the shadow military that knows the systems, does the work .. And will do whatever it is asked as long as they are paid.

Their mother doesn't live here.

Everywhere we turn, diversity and hiring people from the "other" never works out.

*** Side note: My brother revealed that when blacks came back from their R&R after the George Floyd insanity, most of them became more aggressive and entitled. Unable to do their work because they could not stop going to report others for incidence of racism.

This includes the American black contractors and enlisted.

These are dumb young black men and women who are making $92,000 a year to move pallets around. If they were asked to stop calling in sick every day, they would run to report their supervisor for-

Racism.

Many whites have lost their lucrative positions or been subject to discipline for having the audacity to ask blacks to come to work.

It's over. It's too far gone.

[Jan 10, 2021] Trump's Last Stand, by Israel Shamir

Highly recommended!
Trump run his election complain of 2016 as champion of common Americans. After he won the office the betrayed them all and governed like Bush III with his own cabal of neocons and neoliberals. \
He betrayed his followed again on Dec 6, when he first incited them for the action but did not provide organization, security and the plan needed to press Congress to appoint the commission for investigation of election "irregularities" for then days before Biden inauguration. He is now completely spent politically and his enemies and first of all, Ms Pelosi, are after him. Moreover he gave a shot in the arm for the gang of Russiagaters who were pursuing him since his inauguration.
The fact that Trump leaves the political scene is good. While useful as a wrecking ball for the neoliberal empire and neoliberal establishment he proved to be completely inept as a politician and lack courage necessary for the national leader. Which he proved again on Dec 6. Famous quote from Friedrich Schiller's play Fiesco "The Moor has done his duty. The Moor can go." is probably applicable. What is interesting is that Zionists betrayed Trump.
But the fact hat he will be replaced by neocon warmonger and staunch neoliberal Biden means that there is no light at the and of tunnel for the common people.
Like Trump, Biden was never Presidential material. He a a mediocre politician, by all accounts. And extremely corrupt in addition to that.
Notable quotes:
"... Donald Trump denounced the people whom he personally called to protest. His close political allies withdrew their support. ..."
"... The deck was stacked against President Trump from Day One. His orders were ignored. The US courts, judges, police, the whole system of law enforcement was against him; his orders were blocked or overturned, while the media made fun of him and the opposition relentlessly delegitimised him. ..."
"... On January 6, a massive demonstration in his support gathered in Washington, DC. Hundreds of thousands Americans came to the capital to demand justice after the election fraud became obvious. They hoped that the Republican representatives would refuse to certify the fraud and appoint a commission to check and recount the votes. ..."
"... The horror and outrage of the Dem politicians and media were as faked as their news. During last year, many government buildings were taken over by Dem-sponsored BLM activists, and in not one case did the police use lethal weapons or even rush the protesters out of buildings. ..."
"... For them, it was an honest and funny way to express their indignation. But the real gambit plotters intended to frame them. They even murdered four protesters hoping they would respond with violence, but in vain. ..."
"... White American protesters are exceptionally non-violent lot; as with Occupy Wall Street a few years back the January 6 Capitol protesters were timid and obedient as lambs. For this reason, BLM was invented, for Blacks are able to riot violently, as opposed to well-trained whites. It is not a race thing: lily-white French Yellow Vests and Ukrainian nationalists have fought the police all right. But US whites are not prone to riot, not since the Civil War. ..."
"... Anyway, their non-violence didn't help them. The president-elect Biden begrudged them even the name of protesters: "Don't dare call them protesters. They were a riotous mob, insurrectionists, domestic terrorists." Indeed, the name should be preserved for Deep State-authorised looters and their brethren all over the world, whether in Hong Kong or Minsk, in Seattle or Portland. ..."
"... researchers will argue whether duplicitous Biden's minions organised it or just capitalised on the Trumpers' sincere protest. ..."
"... There is no doubt that to an objective observer the 2020 elections were profoundly unfair. I won't trouble you with too many published details about the statistically impossible results, but here is one example of fraud. The city of Detroit gave 95 per cent of its vote to Biden/Kamala, a number that Mr Kim Jong-un would view with slight envy, while Mr Lukashenko would murmur, "How can it be done?" It is highly likely this mind-boggling result was achieved in the following way. ..."
"... The problem is, Trump was a poor organiser. He could win elections, if he could prevent Cynthia Stephens's kind of legislation, outlaw postal ballots, enforce obligatory IDs for voting, mobilise his people for election control. A formidable task, but not impossible, while dealing with a prone-to-cheat adversary. He could even do a revolution on January 6, tasking the right people to act, forming a revolutionary HQ, planning a strategy of takeover, but he didn't do anything of the sort. He probably thought Congress would see the vast crowds and allow for the checking of election results. ..."
"... Alternatively, he was so naïve that he believed revolutions just happen by themselves, as in the movies. They do not. Behind every successful revolution, there is a lot of planning, armed force, weapons ready for use, supply lines, logistics, media support, and communications. Trump had none of that. It was enough to turn off Twitter to make him deaf and dumb. ..."
"... There was no coup attempt, as correctly stated by Tyler Durden : "Trump has never had the concentration, organizational acumen, or ideological coherence to mount a bona fide "coup," and a mob intrusion which was swiftly dispersed by armed agents of the state doesn't change that. ..."
"... Many Trumpists believed in the QAnon and Kayfabe conspiracies; they posted reports of bad guys being arrested, of servers snatched by the FBI, of Clinton and Biden waiting for rough justice behind bars. This belief disarmed people who would otherwise have fought to achieve this very result. That is the problem with conspiracies: imaginary conspiracies prevent real action. ..."
"... He succeeded against enormous odds in improving the lot of American workers: for the first time since the 1970s, their incomes rose in relation to the other classes. He stopped mass migration to the US: legal immigration went down to a trickle. He avoided new wars; he tried to make peace with Russia. He refused to bomb Iran even in the last days of his presidency, though some pro-Israel supporters promised him a second term if he would. ..."
"... His fight against the corona madness was his great achievement. He was against the lockdowns that are about to destroy our world so completely that few things will survive. The last great US ruler who didn't wear the cowardly mask will be remembered. He could not defeat the mighty medical complex, or FAGMA, or the Masters of Discourse, but he tried. ..."
"... Israel Shamir can be reached at ..."
"... The Unz Review ..."
Jan 10, 2021 | www.unz.com

President Trump was decisively beaten, if not fair and square. The hopes of millions of American voters were squashed and extinguished. The saga of the Orange Man is over. The victors used a gambit: they sacrificed the sanctity and security of the Capitol, allowed intruders in, permitted them to take selfies in the Speaker's office, and then faked horror and outrage. The attempted calls for electoral transparency were deflated in real time as huge crowds were dispersed, electors were confirmed, and the ascendancy of Biden was assured, while Trump followers were branded 'domestic terrorists'.

Donald Trump denounced the people whom he personally called to protest. His close political allies withdrew their support. Within hours, or even minutes, this ruler of the world admired by millions became a non-person. Like a boy who posted an obscenity, he was banned by Twitter and Facebook. Time will tell whether he will go to prison, as so many Dems pray for, but his political life seems to have ended, even if his cause may live.

The deck was stacked against President Trump from Day One. His orders were ignored. The US courts, judges, police, the whole system of law enforcement was against him; his orders were blocked or overturned, while the media made fun of him and the opposition relentlessly delegitimised him. He was blocked even by Fox News. Dem-run states adjusted their laws to assure the elections' result. Trump was a lame duck from the very beginning of his presidency to its bitter end. He was kept on a short leash by the almighty Deep State, and when he tried to free himself, they pulled the leash.

On January 6, a massive demonstration in his support gathered in Washington, DC. Hundreds of thousands Americans came to the capital to demand justice after the election fraud became obvious. They hoped that the Republican representatives would refuse to certify the fraud and appoint a commission to check and recount the votes. Some of the protesters managed to break into the Capitol, or were let in by the police. This peaceful Occupy Capitol action, the exercise of a natural right to protest, was met with lethal fire, and a young female protester from San Diego, Ashli Babbitt, was murdered by the plainclothes police. The Republican representatives were cowed and surrendered; Biden was confirmed to take office.

The horror and outrage of the Dem politicians and media were as faked as their news. During last year, many government buildings were taken over by Dem-sponsored BLM activists, and in not one case did the police use lethal weapons or even rush the protesters out of buildings.

"Shortly after 8 p.m. Wednesday, hundreds of protesters gathered outside the locked King Street entrance to the Capitol, chanting "Break down the door!" and "General strike!" Moments later, police ceded control of the State Street doors and allowed the crowd to surge inside, joining thousands who had already gathered in the Capitol to protest the votes. The area outside the Assembly, which is scheduled to take the bill up at 11 a.m. today, was crowded with protesters who chanted, "We're not leaving. Not this time."

Department of Administration spokesman Tim Donovan said although protesters were being encouraged to leave, no one would be forcibly removed. Mayor Dave Cieslewicz said he had instructed Police Chief Noble Wray not to allow his officers to participate in removing demonstrators from the building."

This was what happened in Madison, Wisconsin in March 2011, as Steve Sailer reminded us. Indeed, this is what the protesters expected; some were dressed in flamboyant carnival attire; they behaved well and peacefully, within acceptable limits. It was not an insurrection; they didn't try to take over the Congress in any meaningful sense. For them, it was an honest and funny way to express their indignation. But the real gambit plotters intended to frame them. They even murdered four protesters hoping they would respond with violence, but in vain.

White American protesters are exceptionally non-violent lot; as with Occupy Wall Street a few years back the January 6 Capitol protesters were timid and obedient as lambs. For this reason, BLM was invented, for Blacks are able to riot violently, as opposed to well-trained whites. It is not a race thing: lily-white French Yellow Vests and Ukrainian nationalists have fought the police all right. But US whites are not prone to riot, not since the Civil War. Being a foreigner, I do not understand why the Americans want to keep their guns if they never use them, but that's the way they are.

Anyway, their non-violence didn't help them. The president-elect Biden begrudged them even the name of protesters: "Don't dare call them protesters. They were a riotous mob, insurrectionists, domestic terrorists." Indeed, the name should be preserved for Deep State-authorised looters and their brethren all over the world, whether in Hong Kong or Minsk, in Seattle or Portland.

Russian social networks were comparing the Washington DC events with those nearer to home and complained of 'double standards'. The US media expressed no indignation when their appointee Boris Yeltsin shelled the Russian Parliament in 1993. The New York Times and the State Department had encouraged the nationalist mob to storm Ukrainian government offices in 2014. They cheered on the opposition in Minsk in taking over their parliament after failing to win elections. The Belarus protesters claimed their country's election results were rigged, just like Trump supporters did for the US elections, but Biden didn't call them "domestic terrorists". (Actually, neither did President Lukashenko: he called them 'protesters', and their violent demos were dispersed without a single shot fired.) In such cases, Jews respond with "How can you compare?!"

The Russians compared the Capitol 'coup attempt' with their own semi-staged 'coup' of 1991, a partly pre-planned provocation. In 1991, the feeble coup organisers could not detain Yeltsin and surrendered as if on cue; the wave of indignation removed Gorbachev and the Communist party from power. In the Capitol, too, police waved the 'invaders' in, as you can see on this video forwarded by the BBC. More videos suggesting Capitol police involvement in the ostensible provocation are presented here . The orchestrated indignation allowed the victors to censor and purge the defeated Trump and his followers. Just as the USSR went down in August 1991, Trump's America went down in January 2021, and the liberal elites representing the big corporations came to power. It was achieved by a provocation, but ordinary Trump followers were really angry with the Election Steal. Likewise, 1991 was a provocation, but ordinary Russian citizens were angry at Gorbachev's perestroika, while the liberal elites used it to dismantle the Soviet state and transfer all assets to their oligarchs.

People with a good knowledge of history refer to the Reichstag Fire of February 1933, the arson contrived by the newly formed Nazi government itself to turn public opinion against its opponents and to assume emergency powers. Alternatively, other researchers have contended that there was no proof of Nazi complicity in the crime, but that Hitler merely capitalised on the Dutch Communist van der Lubbe's independent act. The fire is the subject of continued debate and research, says the Encycopaedia Britannica . Probably the same will be said about the Capitol "invasion", and researchers will argue whether duplicitous Biden's minions organised it or just capitalised on the Trumpers' sincere protest.

There is no doubt that to an objective observer the 2020 elections were profoundly unfair. I won't trouble you with too many published details about the statistically impossible results, but here is one example of fraud. The city of Detroit gave 95 per cent of its vote to Biden/Kamala, a number that Mr Kim Jong-un would view with slight envy, while Mr Lukashenko would murmur, "How can it be done?" It is highly likely this mind-boggling result was achieved in the following way.

Detroit Dems outsourced ballot harvesting to local drug lords, offering them as a prize – recreational marijuana business licenses. These licences are the best thing since a licence to print money . Having such licenses is like having your own ATM. Here you can read about their profitability and the lengths criminals will go to obtain them. Detroit Dems had changed local laws allowing the sale of marijuana in their fine city (it was forbidden until November 2020). They changed local laws prescribing the issuing of marijuana licences to drug dealers with previous convictions for drug dealing. They let drug lords out of jail . They changed local laws to allow ballot harvesting; that is, collecting postal votes and assisting with the filling in of ballots. After that, the drug dealers went around collecting postal ballots and filling them in immediately, if they were conscientious, or just filling them in at their leisure, if feeling lazy. They had a judge at their disposal, Cynthia Stephens , who single-handedly changed Michigan election laws, and then rejected Trump's claims of fraud.

Yes, Virginia, there was election fraud in many American states. They are used to gambling; they aren't surprised by a beautiful hand of four aces, as Mark Twain suggested. Usually the two parties deal in turns, and cheat in turns. Only this time, Trump convinced many people that it is different; that this is their last chance.

The problem is, Trump was a poor organiser. He could win elections, if he could prevent Cynthia Stephens's kind of legislation, outlaw postal ballots, enforce obligatory IDs for voting, mobilise his people for election control. A formidable task, but not impossible, while dealing with a prone-to-cheat adversary. He could even do a revolution on January 6, tasking the right people to act, forming a revolutionary HQ, planning a strategy of takeover, but he didn't do anything of the sort. He probably thought Congress would see the vast crowds and allow for the checking of election results.

Alternatively, he was so naïve that he believed revolutions just happen by themselves, as in the movies. They do not. Behind every successful revolution, there is a lot of planning, armed force, weapons ready for use, supply lines, logistics, media support, and communications. Trump had none of that. It was enough to turn off Twitter to make him deaf and dumb.

There was no coup attempt, as correctly stated by Tyler Durden : "Trump has never had the concentration, organizational acumen, or ideological coherence to mount a bona fide "coup," and a mob intrusion which was swiftly dispersed by armed agents of the state doesn't change that. Shortly after the breach, he released a video instructing his followers not to take Senators hostage or imprison Mike Pence, but to "go home." No factions of the federal government joined the mob on Trump's orders, because he didn't bother issuing any. The whole episode never stood the remotest chance of preventing the certification of Joe Biden, much less overthrowing the government. It was just another goofball charade, and in that sense, a fitting end to the Trump presidency."

Conspiracy theories played their disappointing part in the debacle. Many Trumpists believed in the QAnon and Kayfabe conspiracies; they posted reports of bad guys being arrested, of servers snatched by the FBI, of Clinton and Biden waiting for rough justice behind bars. This belief disarmed people who would otherwise have fought to achieve this very result. That is the problem with conspiracies: imaginary conspiracies prevent real action.

Still, I do not want to finish this piece on such a sad and disappointing note. President Trump was a great leader. He succeeded against enormous odds in improving the lot of American workers: for the first time since the 1970s, their incomes rose in relation to the other classes. He stopped mass migration to the US: legal immigration went down to a trickle. He avoided new wars; he tried to make peace with Russia. He refused to bomb Iran even in the last days of his presidency, though some pro-Israel supporters promised him a second term if he would.

His fight against the corona madness was his great achievement. He was against the lockdowns that are about to destroy our world so completely that few things will survive. The last great US ruler who didn't wear the cowardly mask will be remembered. He could not defeat the mighty medical complex, or FAGMA, or the Masters of Discourse, but he tried.

The day of his defeat, January 6, was the Epiphany, or Adoration of the Magi, of the Three Wise Men who came to worship Jesus in his cave. It was also Christmas Eve for the Eastern Church. It is the darkest time of the year; from now on, the day will increase and so will our hopes.

Israel Shamir can be reached at [email protected]

This article was first published at The Unz Review .

[Jan 09, 2021] What we are seeing in the US is an ongoing coup. This is a coup against the US people by the US corporate and financial oligarchs.

Jan 09, 2021 | www.moonofalabama.org

killwallstreet , Jan 9 2021 18:50 utc | 3

The DNC mafia is about to complete the process of assimilation of the progressives, exactly as predicted

Blue Dotterel , Jan 9 2021 19:08 utc | 12

I have tried to explain over the past while, that what we are seeing in the US is an ongoing coup, This is a coup against the US people by the US corporate and financial oligarchs. Clearly, they are benefiting by not simply enriching themselves at taxpayers expense, but securing their own criminal amoral behaviour through the supression of human rights and what is left of the freedom of speech in the US. This is accelaerating exponentially and has been going on long before Trump came on the scene.

Avoid paying attention to the distractions, and keep your eye on the ball.

[Jan 09, 2021] The line of investigation initiated by Upton Sinclair into the shared Board memberships at key elite universities within the USA that erased the traditional teaching of political-economy and replaced it with the mathematical economics which lie at the root of Neoliberalism's Junk Economics

Jan 09, 2021 | www.moonofalabama.org

karlof1 , Jan 9 2021 0:37 utc | 124

Digital Spartacus @105--

I've been following her work for several months now and think her premises much sounder than Matthew Ehret's, who are actually on the same Canadian team. Generally, the three of us are working on exposing the rise and spread of what's now known as Neoliberalism. And of course, there's Dr. Hudson who's ahead of us all.

The line of investigation initiated by Upton Sinclair into the shared Board memberships at key elite universities within the USA that erased the traditional teaching of political-economy and replaced it with the mathematical economics which lie at the root of Neoliberalism's Junk Economics

I see as very promising as they're also prominent bankers and Old Money with social connections to England's Royalty and Nobility--the primary members of Europe's Rentier Class . When I look over the comments, many have forgotten just what Class owns the Duopoly and controls the federal government. Trump was never allowed into their circle but was used by some of its members in the pursuit of interests that are still shrouded in fog. My working hypothesis there is they were quite worried that too much industrial capacity had been foreclosed and moved such that it caused a real threat to national security; thus the need for MAGA.

With the rise of the Eurasian Bloc, the "threat" isn't military; it's economic. As I wrote earlier today, an economy based on consumerism will collapse when the consumers can no longer consume. Hudson's 100% correct that debt's that can't be repaid won't. The current degree of economic polarization is miniscule compared to what might ensue if the Bidenites don't forestall it--200 Million people bankrupt while 100 Million have good paying jobs and can afford their debts--the remaining 40-50 Million are mostly impoverished children. This time the part of the public that gets shafted as in 2009 under Obama isn't going to sit still, and what happened in DC will be repeated elsewhere with meaning this time. A genuine MAGA Fascist wanting control will need to disarm the Rentier Class and the Swamp thus ousting the current "Friendly Fascist" regime--and that would require a paramilitary since that's basically what composes the Swamp--Civil War between two Factions of Reaction that would also split the military. Wonder what barflies think of all that?

karlof1 , Jan 9 2021 1:11 utc | 135

Earlier in the week I linked to the latest Renegade Inc program which had Dr. Hudson as one of the guests. That show's transcript is now available. Here's an excerpt with Ross Ashcroft asking a question:

"Ross: What do you think are the megatrends that we should be looking at in 2021? What do you think is the direction of travel, if you like, for so-called developed economies?

"Michael Hudson: Well, the big trend in any economy is the growth of debt, because the debt grows exponentially. The economy has painted itself into a debt corner. We can see that in real estate. We can see that for small business. There's also almost no way to recover. The Federal Reserve has been printing quantitative easing to keep stock and bonds high. But for the real economy, the trend is polarization and lower employment.

"The trend also is that state and local finances are broke, especially in the biggest cities, New York City, San Francisco and Los Angeles. They're not getting income tax revenue from the unemployed or closed businesses. They're not getting the real estate tax with so many defaults and mortgage arrears. In New York City there's talk of cutting back the subways by 70 percent. People will be afraid to take the subways when they're overcrowded with people with the virus. So you're having a breakdown not only in state and local finances, but of public services that are state run – public transportation services, health services, education is being downsized. Everything that is funded out of state and local budgets is going to suffer.

"And living standards are going to be very sharply downward as people realize how many services they got are dependent on public infrastructure."

And this one I must also include:

"Ross: What is the one thing that has really surprised you in 2020? What have you laughed at? What has given you a chuckle?

"Michael Hudson: The surprise – that I really shouldn't have been surprised at – is how naive Bernie Sanders supporters were in thinking that they were going to get a fair deal and that the elections were going to be fair. The illusion is that people were actually going to have a fair election when the last thing the vested interests wanted was Bernie Sanders or Elizabeth Warren or any kind of reformer. So what happened to Sanders is what happened to Corbyn in Britain and the Labour Party's neoliberal leadership.

"So what's for laughs? I guess, Tulsi Gabbard's takedown of Kamala Harris was absolutely wonderful. Everybody just broke out laughing, cheering for her. And of course, that's why she was marginalized, and now we have Kamala Harris as the senior vice president."

Of course, none of the dire economic news is being reported with the focus instead on Wall Street's markets, with much of the public just as brainwashed about it as Trump. The last third focuses on politics, which is what most barflies want to read about. So, click the link and read what Dr. Hudson sees in the tea leaves.

[Jan 03, 2021] George Monbiot got it half-right- There is a capitalist civil war, but not exactly the kind of war he describes

Jan 03, 2021 | failedevolution.blogspot.com

As Monbiot points out:

The only way really to understand Brexit is as the outcome of a civil war within capitalism. There are two dominant forms of capitalism. One you could describe as house trained capitalism. This is corporations and rich people who are prepared to more or less go along with democracy, as long as democracy doesn't get out of hand and actually represent the interests of the people, but as long as it's a sort of thin and narrow form of democracy, they'll go with it. What they want is stability. They want regulations which protect their market position from rougher and dirtier companies who would otherwise wipe them out. They're happy with the administrative state.
And then there's another faction who could be described as capitalism's warlords. These are people who don't want any constraints in their way at all. They see taxation as illegitimate, they see regulation as illegitimate. In their unguarded moments, they reveal that they see democracy as illegitimate. People such as Peter Thiel, the guy who founded PayPal says actually democracy and market freedom are incompatible. The conflict should be resolved in favor of this thing he calls the market. Τhe market is an euphemism for the power of money. And they believe that that power should be unmediated, that it should be able to do whatever it wants without anyone standing in its way. And they see as their enemy house trained capitalism. And this is really where the power lies within.

The whole Brexit debate, is on the one side, the august institutions of capitalism, like the Confederation of British Industry, saying this is terrible, we don't want this to happen at all. And on the other side, the oligarchs from the City, very powerful people who are funding dark money think tanks and other lobby groups, saying we want to clear it all out of the way. In Steve Bannon's words, " we want the deconstruction of the administrative state ". And it's a second group, the warlords of money who have won.

First of all, both capitalist factions in this civil war seek the " deconstruction of the administrative state. " And actually, the administrative state could be deconstructed much more efficiently through super-national formations like the European Union. The European Union institutions have been taken over by powerful banking and corporate lobbies. And these are taking advantage of the legislative power of those institutions in order to promote more deregulation and destroy the administrative power of nation-states. As the Corporate Europe Observatory reported in 2016:
Since Jean-Claude Juncker took office as President of the European Commission in November 2014, there has been an even greater deregulation push, not just on specific rules and laws which should be scrapped, but on how decisions are made about future laws. Under Juncker, fundamental changes in policy-making are being introduced which will put major obstacles in the way of new regulations aimed at protecting the environment or improving social conditions. When David Cameron was renegotiating the terms of the UK's membership of the EU with European Council President Donald Tusk, a greater European emphasis on deregulation was one of the four priority areas. To pile on the pressure, Cameron and the UK government spearheaded an appeal from 18 other member states, demanding quantitative targets, meaning that for every new regulation put in place, a certain number of other regulations should be removed. [...] As presented here, Cameron and the European Commission – together with big business - share a common approach on the deregulation agenda.

That's why the "house trained capitalism", as Monbiot describes it, wants the UK to remain member of the EU. And, in fact, it's rather contradictory to say that this capitalist faction is "happy with the administrative state" when at the same time supports a super-national organization whose ultimate goal is to eliminate the administrative power of the nation-states.
Monbiot describes the pro-Brexit capitalist faction as " capitalism's warlords ... people who don't want any constraints in their way at all. They see taxation as illegitimate, they see regulation as illegitimate. In their unguarded moments, they reveal that they see democracy as illegitimate. " Yet, these are common characteristics with the "house trained capitalism" faction. That's because both capitalist factions in previous decades were functioning as a united force through the complete domination of neoliberalism. A domination which was evident not only in an economic and a political level, but also in a cultural level, especially in the Western world. And that's why, as we wrote recently, both the liberal elites and the far right (as representatives of the capitalist factions), are seeing the real Left as the primary threat which must be dealt at all costs, after all.
We need to understand that this civil war between the capitalist factions does not come out of any substantially different ideological or political approach. Essentially, it's only a tough bargain. Capitalists just pick sides to negotiate terms and secure their position in the post-capitalist era, which already looks like a kind of 21st century corporate feudalism. Yet, we would completely agree with Monbiot's remark that " What happens to us, to the citizens of the UK, is of very little interest. We're just the grass that gets trampled in this civil war. "
As we already pointed out , the level of ruthlessness of this capitalist war can also be identified in the behavior of the US political class against the American people. It's astonishing that, inside this terrible situation, where thousands die from the pandemic, millions lose their jobs and live under extreme insecurity, no one is willing to offer anything. Both Democrats and Republicans have turned the oncoming election into a political bargain and they don't even try to hide it.
Inside this ruthless capitalist war, people have become almost irrelevant. What only matters for the political puppets is to secure the interests of the capitalist faction they represent. The rampageous bulls of capitalism are fighting each other in an arena in which democracy has now turned into dust under their violent clatters. Therefore, we would also certainly agree with Monbiot's conclusion: We need a political economy which is good for the people, the people who live today, the people of future generations, good for the rest of the living world and is actually governed by the people themselves. Not by this kind of capitalism or that kind of capitalism. These corporations or those oligarchs. A democracy which responds to people not just once every four or five years, but every day, when we have participation as well as representation. We need a system that transcends both of these warring factions, and puts the people in charge.

https://www.youtube.com/embed/s5VgkCb8lYI Related: Brexit: let there be blood among capitalists and may the real Left finally

[Jan 03, 2021] The USA is on the path to techno-feudalism

Jan 03, 2021 | www.zerohedge.com

LetThemEatRand 10 hours ago (Edited)

Most people don't know what feudalism is/was. It is a form of slavery. The serf works for the Lord. He is technically free, but he cannot own land and if he ventures out from the area where he works (owned by the Lord), he will starve. China is a neo-feudal society. There is a technical middle class, who are the people who work for the lords.

El Vaquero 10 hours ago

You get it. Global neo-feudalism is the goal. The commies and socialists are just useful idiots.

sun tzu 10 hours ago

Capitalism for the elites and slavery for masses

El Vaquero 10 hours ago (Edited)

Slavery for the masses. You will be their property if you allow it. A possession. Chattel. Livestock.

philipat 10 hours ago (Edited)

If people don't stand up against this Reset and say NO now, it's over. ("You will own nothing and you will be happy", f**k that thanks, I'm still a great believer in free market capitalism and private property rights) The problem is, the sheep are distracted and terrified by "Covid", part of the plan of course. These people are evil but not stupid.

And I think everyone should keep in mind those Deagel population projections for the US of 100 Million in 2025. That's a BIG drop which isn't going to came about "naturally"!!

El Vaquero 10 hours ago

They're going to fail at the end of the day, but the damage they're going to do on the way out is staggering. They're like crack dealers who sample their product a little too often. They're ignoring things like the laws of physics, which unlike criminal laws, no matter how hard you try, you cannot break. They're also ignoring some biological principles.

Ofelas 6 hours ago (Edited)

2015 interview with a top manager from the Bank of England "the reset will happen 2020" At the time we did not understand the full extent, but expected a stock market reset.

https://youtu.be/BShR0pExJq8

I recommend you see this contribution, he speaks for the outcome of being connected to the cloud (ai), essentially they control your thoughts thus "No children, population drops to the level of 500mn in decades" Who those chosen 500mn will be, have a guess.

Scorpion Shooter MBA PREMIUM 2 hours ago

The program is well underway already; I see it everyday simply by the numbers of masked zombies. Much damage has already been done, but there is more to come.

Many people are still comfortable, however, and won't resist until they begin to lose things.

LetThemEatRand 10 hours ago

Which is what Marx predicted. He was right about the problem, but not the solution. The solution was 1776. Took a few years to revert back.

El Vaquero 10 hours ago

1776 was somewhat of an anomaly. A lot of revolutions are "meet the new boss, same or worse than the old boss." IMO, if we 1776 again, there needs to be a lot of militia guerrilla action as a deterrence against that.

PrideOfMammon 8 hours ago

1776 was a coup d'etat as was 1917 and almost 100% killed the wrong people. The Schwabs and Gates always get away.

Ofelas 5 hours ago

Since 1776 only 200 families rule France, nothing changed

philipat 10 hours ago

Actually, it's the other way round. Communism (And bailouts) for the Elites and Capitalism (You lost it all? Tough) for the masses..

philipat 7 hours ago

Maybe. There's a lot of sheep who have been programed and propogandized to obey who are literally fat, lazy and clueless.. As demonstrated by "Covid". America isn't what it used to be.

carpman 7 hours ago (Edited) remove link

Thought I'd throw this into the mix since a lot of terms are getting thrown around, this is regarding the WEF's Great Reset:

" This is more the dystopian wet dream of a neo-feudal, corporate plantation owner; a kind of technocratic serfdom. At its root however, is global, centralised state-capitalism (i.e. global fascism). " ( source )

I'll just quote some concerns of US workers in the 1840's:

"When you sell your product, you retain your person. But when you sell your labour, you sell yourself, losing the rights of free men and becoming vassals of mammoth establishments of a monied aristocracy that threatens annihilation to anyone who questions their right to enslave and oppress. Those who work in the mills ought to own them, not have the status of machines ruled by private despots who are entrenching monarchic principles on democratic soil as they drive downwards freedom and rights, civilization, health, morals and intellectuality in the new commercial feudalism."

Here's Richard Werner in 2018 (The Monetary Institute Conference) talking about Central Bank plans. Eerily similar to the Great Reset Agenda and pre-Covid-19 (the whole thing is worth a watch, but jump to 12:50): https://youtu.be/IzE038REw2k?t=769

C.

Falcon49 3 hours ago

Actually....just about everybody has been conned into being useful idiots. Even those that are not commies or socialist. They have unlimited resources, control the narrative, and have a near monopoly on the use of force. (Divide, distract, deceive, and delude)

hegger 10 hours ago (Edited)

The lord was paid a tithe so you could live on his land, but for that tithe, he also protected you.

Today, you effectively and overall pay more than a tithe and are protected less. You also pay multiple lords (you pay the bank cartel for using a private currency pretending to be federal, you pay a bank or a landlord to live in a building, you pay local, state and federal taxes, you indefinitely pay property taxes and inflation indirectly taxes you more and more by the second). Those preying upon you lobby (bribe) those "in charge" so that they do nothing.

Seems to me like somewhere along the line, one lord was simply exchanged for many.

We're lucky humans have come further along in terms of expanding consciousness and reducing violence, because in strictly contractual terms, the relationship between subject and ruler hasn't improved as much as I wish it had.

Much of the "perks" people see in modern forms of government are faked. Behind the facade, the attempt to enslave body and mind continues.

The White Rabbit 9 hours ago

MUST WATCH NOW & SHARE! Catherine Austin Fitts exposes their "Agenda". There's still time to stop this insanity, but not much.

https://youtu.be/C1-0XKYAZII

philipat 7 hours ago (Edited)

Yes, I watched that a few days ago. She is very smart, on the right side (the Government came after her when she saw the light and left HUD and she spent 5 years and $7 Million defending herself against all sorts of crap in the usual attempt by Government to destroy her) and very well connected. And she's VERY good at connecting dots. The revelations here about the association between the location of Fed Offices and the location/type of properties that got destroyed in the pre-election "BLM/Antifa" are staggering.

Svendblaaskaeg 5 hours ago

Thank You!, very informative, this Lady is gold!

Razor_Edge 4 hours ago

Look up her online book: "The Aristocracy of Stock Profits". The roots of what is unfolding today are there on full display. This lady is amazing, truly one of the good guys, but with deep insight from having seen the beast from the inside. It's past time for us all to wake up, come together and act powerfully to throw off the yoke of evil throttling our world. We can do this through prayer and righteous living. Do not give their schemes oxygen by participating in them. Let us reimagine our societies with the beasts left outside.

`And these words shall then become Like Oppression's thundered doom Ringing through each heart and brain, Heard again -- again -- again--

91 `Rise like Lions after slumber In unvanquishable number-- Shake your chains to earth like dew

370 Which in sleep had fallen on you-- Ye are many -- they are few.'

Oliver Jones 3 hours ago

Thanks for the suggestion. I have some reading to do.

Alan Cruiser 5 hours ago

Absolutely a must see!

Oliver Jones 3 hours ago

Yes, I must agree with The White Rabbit: I would even go so far to say that watching that Catherine Austin Fitts video will be the best 49 minutes you ever invest in 2021, and we're not even a week into the New Year.

I just subscribed to her Solari Report - she talks a lot of sense , and we need to support more people like her.

PrideOfMammon 8 hours ago

China is better off in its form of feudalism. The USA will be much worse off. It is a meaningful difference.

Grandad Grumps 38 minutes ago

Feudalism worked on the farms in Europe until the plague killed 100 million people. The serfs migrated to better paying jobs in cities and the "lords" were left to tend their own fields.

The White Rabbit 9 hours ago

MUST WATCH NOW & SHARE! Catherine Austin Fitts exposes their "Agenda". There's still time to stop this evil & insanity, but not much.

https://youtu.be/C1-0XKYAZII

mtndds 9 hours ago

Great Video

PrideOfMammon 8 hours ago (Edited)

C A F is a great lady. She is one of the chief fighters against the real plague, the plague of Talmudo-Satanists which are the enemy in WW3. But this video is a CIA production to discredit her I think.

The graphic behind her is insanely creepy, as is the interviewer and the camera-work.

Oliver Jones 3 hours ago (Edited)

I am forced to agree. The video is a bombshell, and it neatly ties together all those little strands linking currencies, the economy, international banking, the COVID scamdemic, vaccines, biotechnology and space weaponry. Her delivery is also very calm, matter-of-fact reasoning - and not at all Alex Jones.

Moreover, she exposes what these bastards have in store for us: George Orwell, boot, stamping, face, the rest of your life. Oh yes, and your DNA will be permanently modified so you can't resist them.

xious 10 hours ago (Edited)

They are banning all gender words for congress. Covid checkpoints are coming soon.

mtndds 10 hours ago

If true then this is some really sick satanic sh!t they have planned.

El Vaquero 10 hours ago

You can go read the WEF's articles and watch their youtube videos. They'll tell you exactly what they're about.

Mike Rotsch 10 hours ago

If history is any indicator of what's about to happen, the toughest thing to figure out from here is, in which order all of these assholes are going to inevitably end up with their heads on pikes.

PrideOfMammon 8 hours ago

Nowhere in their plan is the word 'human', except with the word 'trans' in front of it.

convid21 10 hours ago (Edited)

What happens if they can't fulfill their Great Pandemic dream and Bankrupt the Economy ?

It looks like now the Great Pushback against Lockdowns is gathering momentum to combat the Governments Pushback for more Lockdowns. It's Pushback vs Pushback.

rsnoble 8 hours ago

Bankrupt the economy? Lol. Only a million job losses per week since last March or the better part of a million.

BURNtheMSM 8 hours ago

I wonder what their plan is for all these evictions waiting to happen. They gonna f'ing "hero up" somehow? There's gonna be some real pain in the near future, on a grand scale.

Boondocker 8 hours ago

Look at what it is doing to middle-class rental owners...draining their wealth...all part of the plan

convid21 6 hours ago

We're in Act 2 of a 4 part play.

If you want to know what's going to happen next in the USA,

it's already started in the UK and Australia, it's reached total nonsense.

Alan Cruiser 5 hours ago

But something has to give at some point. People are reaching their limits, and that is by design. But if the masses start moving, they better start hiding.

convid21 4 hours ago

At the moment there is just peaceful protests, so the NWO is just laughing their asses off.

4Celts 10 hours ago

If enacted, such plans would fail, but their adoption would nevertheless exact a price.

Yes. I don't think the majority will submit to this Collectivist Utopia being sold/ forced . But in the meantime , the financial , emotional, and societal damage, will be almost impossible to repair.But just as with their brutal wars, they....don't...GAF.

hugin-o-munin 9 hours ago

The time for these holier-than-thou elites to steer and control the world is coming to a close. People are born to be free and express their ideas, wishes and dreams. That is a concept completely alien to these lost souls and their constant push to create conflict, despair and suffering only proves how morally bankrupt they are.

Being able to freely create and affect other people in a positive way and be rewarded for it is what all people want. It is an innate and natural force to be life promoting, creative and constructive. I feel sorry for people like Bill Gates, George Soros and Klaus Schwab because they are clearly lost souls whose existence must be very cold and lifeless.

Pardalis 9 hours ago

Dead souls lost in utter darkness.

hugin-o-munin 9 hours ago

They're not dead they're just encrusted. In a weird way and on some level they serve a purpose to help the rest of us.

JZ123 9 hours ago

Sadly I dont think so. 2020 was the final kill blow for the elites. Most people probably dont even want to be free at this point..

Mad Muppet PREMIUM 9 hours ago

The next time you go to the market, look at all the maskholes and rethink whether they really want to be free. Most of them do not.

hugin-o-munin 8 hours ago

Eventually their state of fear and obedience to this death cult will subside and they too will wake up. Nobody can make them or even speed the process up, they have to discover this on their own.

PrideOfMammon 8 hours ago

It took the Bolshevik **** who raped and pillaged Russia after the 1917 Coup d'Etat (known as the first Color Revolution- Red) 80 years to destroy and steal everything. Then they moved to the West and the USA. I hope that you stop them. Eighty years is a long time to wait for them to tired of abusing you and your children and wives.

hugin-o-munin 8 hours ago

I hope you've read Antony Sutton's book :

Wall Street and the Bolshevik Revolution: The Remarkable True Story of the American Capitalists Who Financed the Russian Communists

https://www.amazon.com/Wall-Street-Bolshevik-Revolution-Capitalists/dp/190557035X

If not I highly recommend it.

dont stare at the beam 8 hours ago (Edited)

they have to discover this on their own.

They never will, they have no free will, the people that started the pandemic scam know it.

BURNtheMSM 8 hours ago

Yup. They'll just don their mask and go about their ********, hoping things will soon "get better." The writing is clearly on the wall at this point mfers. How are so many almost unfazed by how this is all unfolding? We can't just roll over. Rolling with the punches will not work out much longer.

hugin-o-munin 8 hours ago

Getting over cognitive dissonance takes courage and time. We've all been there. Don't judge the ones who are being silent but punch those who are attacking you with their gestapo demands.

Wayne 2 hours ago

Any wonder why Bitcoin is going to the moon?

Every time I look at the chart, it's higher. Bitcoin, gold, silver, land, garden, water is freedom.

https://www.coinbase.com/price/bitcoin

gonediving 10 hours ago

REWATCH V for VENDETTA if you can....viruses let loose by their own govt...prophetic!!

You wear a mask for so long you forget who you were beneath it.

JAN 6 you are invited.

Nessa 9 hours ago

https://www.bitchute.com/video/z7B6mLIjxVpf/

This video was removed from the World Economic Forum website.

"YOU'LL OWN NOTHING, AND YOU'LL BE HAPPY"

PrideOfMammon 8 hours ago

They are afraid. When a few of them are found floating in the river, they will be even more afraid.

But it will have to be done without planning or discussion as everything is overheard and surveiled.

Mad, rash acts of poetry is what will work.

BURNtheMSM 8 hours ago

Wtf do they think we're going to be renting???

LetThemEatRand 10 hours ago

2021 Jeopardy:

"I'll take silly questions for $400 million Alex."

Here's the answer.

"I don't think the virus is that dangerous, and I'm worried about the vaccine. Can I travel?"

Al Jolson 3 hours ago (Edited)

The Great Reset means reduced incomes and carbon use

And there it is in a nutshell- the hyper privileged elites know full well what time it is. Oil, or should i say CHEAP and EASY oil, is running scarce as 2019 saw the year that fracking, with its woefully upside down energy spent to return ratio, finally puked (list of major fracking companies that went bust here ). The hyper privileged have been grooming the public for years in preparation for this with the fake climate change narrative. Whatever oil happens to remain that is accessible at a reasonable cost belongs to the hyper-privileged elites. It doesn't matter what side of the political paradigm you're on, if you're not one of the few elites, YOU ARE a deplorable and you will certainly be subjected to "reduced carbon use" while they themselves make no carbon use reductions whatsoever.

peterZ 2 hours ago

these same people could bring in new and viable energy tech but they won't

Cloud9.5 2 hours ago

Hopium is not a plan.

5onIt 2 hours ago

Such garbage. They been talking about peak oil for DECADES and here is the dirty secret or just you burying your head in the sand: oil is a renewable resource.

Oil is being found in wells that were capped 50 years ago, that were presumed dry. Franking, while presumed to be bad for the earth, has led to major leaps forward in the drilling industry.

Al Jolson 2 hours ago

you couldn't be more wrong if you tried a little harder.

Cloud9.5 2 hours ago

Sorry but production numbers do not support your hypothesis. When oil companies start drilling in the artic and steam cleaning tar sand, that should give you a clue. We have an abundance of gasoline right now because of demand destruction and shale oil. Shale oil was only possible because of cheap credit. Shale oil has not made a profit.

smacker 2 hours ago

Get real.

Peak Oil was always said to be known by looking in the rear view mirror.

If you do that, you will see Peak Oil occurred around 2005-6 (recall $150 oil?). The current price of oil only remains low because the global economy is on its knees and demand is low. If the global economy ever recovers, the price of oil will soon rise and will continue rising and then it's another global recession.

Rinse & Repeat.

Luce 1 hour ago

The price of oil adjusts to supply and demand.

The supply is there, the geinie is out of the bottle (fracking) and as soon as the price is there, production can quickly ramp up to profit on it.

Yes, credit used to support the ramp up in fracking caused a glut because companies could not afford to stop production until the prices returned. Instead, had to ramp up to pay the notes driving the price to nothing.

smacker 7 minutes ago

Fracking will not bridge the gap between conventional fossil fuel and demand.

Fluff The Cat 2 hours ago

There's no shortage of oil, which is the second most abundant liquid on earth besides water. The Rockefellers met with world leaders early in the 20th century and decided to create the illusion of artificial scarcity by redefining oil as "fossil fuel" so that they could jack up the market price.

CatInTheHat 54 minutes ago

Climate change= the excuse the elite need to tax the air you breathe.

It was always a joke.

The US MIC is the biggest polluter on the planet

Canoe Driver 3 hours ago

Obviously, a fair amount of the steadily regurgitated descriptions of the so-called Great Reset amounts to ********, but the real objectives of the plan, already made clear, are Chinese hegemony and a world communist State, which will simply be called by another name. This is why a glorified flu is being exaggerated so severely that even taxi drivers, some of them with virtually no formal education, are openly saying there must be something, apart from public health measures, going on.

taglady 3 hours ago

Those with "formal" education are often the stupid ones taught to ignore common sense and their own conscience in deference to indoctrination.

Faeriedust 19 minutes ago

The public education system is dedicated to finding those among the peasants with enough brains to cause trouble for the elites, and indoctrinate them with lies before they are old enough to know better. The best and least scrupulous are selected out to become trusted servants; the rest are turned into schoolteachers to indoctrinate the next generation.

Hero Zedge 9 hours ago

Let me guess, they confiscate everyone's wealth and we get $600 per quarter?

Mad Muppet PREMIUM 8 hours ago

Well they did say you won't own anything. I think that's exactly what they want.

PrideOfMammon 8 hours ago

At first. There is a sliding scale and it points downwards.

IridiumRebel 10 hours ago

FAH-Q and your Faukin communism.

Oh-Globits 10 hours ago

declare martial law and exterminate all of the communist/bolshevik filth that has infested America

The White Rabbit 9 hours ago

MUST WATCH NOW & SHARE! Catherine Austin Fitts exposes their "Agenda". There's still time to stop their evil & insanity, but not much.

https://youtu.be/C1-0XKYAZII

PrideOfMammon 8 hours ago

A fish rots from the head down. The head is what you need to 'fix'.

GoldHermit PREMIUM 10 hours ago

I envision many telling these people to stick it and going back to a simpler way of life. I think they are willing to fight for this freedom.

PrideOfMammon 8 hours ago

I await the sweet sound of gunfire from all 325 million American firearms.

DurdenRae 4 hours ago

With the onset of their own personal flavor of neo-feudalism, the wef does nothing else than killing the golden goose and genocide the white race. Looks like after having been expunged from Russia, Bolshevism made a fantastic comeback in what were once believed to be the freeest countries of the world.

Faeriedust 1 minute ago

One more time. FEUDALISM is a system built on PERSONAL, one-on-one relationships between the ruler and the governed. Each person knows the person he/she is responsible to, and commits to a personal relationship of trust and reciprocal obligations . Feudalism is like the Godfather: the Lord may be a crook, but he's a crook you know personally, you can talk to, and you can ask for favors or try to persuade, and because you know him, you even know what kind of persuasion might work.

What Schwab and his cronies are pushing is centralized, automated, bureaucratic TOTALITARIANISM . It has NOTHING in common with genuine feudalism. In totalitarianism, there are NO personal relationships. There are no mutual obligations. There is Ruler/Nation/Leadership, and there are proles. Proles don't know the Leader, never speak to the Leader, only see images of the Leader everywhere. They are addressed by Leadership as a mass, by media. The Leadership never sees them and never hears a single thing they say . He/She/It merely gives orders, which are to be obeyed.

Feudalism has been given a bad rap by Enlightenment-era writers who as members of the Renaissance mercantile class never had a personal, feudal relationship with a lord in their lives . It's been the subject of centuries of negative propaganda, with the result that it's now used to refer to any social system that isn't a modern democracy. Modern democracy has its own flaws. To describe them as feudalism, however, is to ascribe outmoded negative criticism of a long-ago era to something that has no factual similarity to it. It's part and parcel of the mindset that sees Catholicism as paganism or demon-worship because it doesn't subscribe to radical Puritan sensibilities.

Target Practice 4 hours ago (Edited)

I took a different road to you.

Do you believe in "Fake News" now? I guess "a global conspiracy" don't seem so far-fetched anymore?

This 3 minute short comedy film will introduce the channel. The other 56 videos lay it out for you, and No, I don't have all the answers. But it is really big .

"Bigger than anyone can imagine" ..

VACCINATE: Mommy. The TV Turned Daddy into a Robot Nazi.

HDRCFX Full Channel.

I don't sell T-Shirts, Hats, Coffee-Cups or Key-rings. There are no adverts, I don't want your money, I am trying to wake people the fuc up, including my own family. Most won't believe it, until the TV tells them to believe it, but a good number of you will be able to think for yourselves.

taglady 3 hours ago

It's not that people do not see what is happening. They do, but if they acknowledge the truth they will then have to do something about it. They are cowards. No problem, that is the way it has always been. It's only ever a very small percentage of people who change the world. Forget the cowards you don't want them at your back in battle anyway. It's time for those willing to do what it takes to unite and fight the parasites.

Cloud9.5 2 hours ago (Edited)

People are stockpiling food, fuel, and weapons on a scale we have never seen before. A third of the population is awake. They sense the collapse, and they are quietly getting ready for it.

Onthebeach6 6 hours ago

Klaus and his coven of economic vampires want to suck the rest of humanity dry whilst living forever as "Great Elders".

Sharpened stakes will work fine - just like in the movies.

PrideOfMammon 8 hours ago

Nothing wrong with Dr [sic] Schwab that a mineral supplement of nine grams of lead would not fix.

JZ123 9 hours ago

If you are into the conspiracy theorist subculture all of this "reset" bio-techno-feudalism deep state stuff isnt news. The enigmatic Alex Jones has been talking about it for years. As looney as Jones is, he gets a lot of things right eventually.

hugin-o-munin 8 hours ago

There are many books on these subjects. You can choose to go down that rabbit hole but I think there are bigger rewards looking forward instead and work on new ideas and solutions.

PrideOfMammon 8 hours ago

Jones' style is irritating to some, his substance is solid.

pparalegal 10 hours ago

Generation Z are you listening.

sun tzu 10 hours ago

They're too brainwashed by schools and social media

taglady 3 hours ago

Interesting that those calling for a great reset are the very ones who profited massively from the old system and were instrumental in the destruction of the natural world for their obscene profits.

10LBS_SHIT_5LB_BAG 1 hour ago

The great reset is their way of keeping their ill gotten gains while shutting us out of upward social mobility.

Money-Liberty 5 hours ago

The key to defeating these nutcases and their cohort elites is the collapse of this rotten fiat monetary system; without debt creation they cannot increase their control. A return to gold, silver, decentralized crypto for smaller P2P transactions , barter and localization will help redress the balance of power. I firmly believe there will be a 'Great Awakening' as the covid pandemic passes and the bill has to be paid. http://www.money-liberty.com/gallery/greensqueeze.pdf

Propaganda Ripper 4 hours ago (Edited)

That's precisely because they know the current fiat system is going to collapse that they want this Great Reset with the introduction of a Central Bank Digital Currency (CBDC).

Cloud9.5 2 hours ago

The problem lies with cascading collapse. There is a lag time between the death of the old system and the birth of the new. We are 9 meals away from total chaos. Digital currency is a long way from being able to buy a cabbage at a farmers market, especially with a shaky grid.

shadow541 5 hours ago

What this globalist elite envisions as a great future is nothing more than a bad science fiction movie.

A dystopia where their greed and megalomania is endlessly rewarded via the slavery of nearly everyone else.

It is sad that most of our world leaders in many areas can't conceive of a balanced and inclusive future for humankind.

People like Bill Gates think they can do world changing things like block out the sun based on a climate hoax.

They are psychopaths that cannot grasp that humanity, nature itself have a right to exist outside of their control.

CatInTheHat 44 minutes ago

And that lack of EMPATHY AND CONSCIENCE will be their down fall

dark pools of soros 5 hours ago

the great reset should be removing jooos from controlling money

Maghreb2 5 hours ago

Replace them with totalitarians AI designed to maintain a caste system. I ******* guarantee you the AI will end up anti-semitic at some point when the whole system goes into a tailspin because of Dominque Strauss Khan and some prostitutes.

Waiting for the day some rabbi shouts "shut it down the golem know!"

SomethingClever 8 hours ago

You will own nothing and have zero privacy but you will be happy.

Which means the billionaires will own everything and spy on you and make sure you don't interfere with their plans for what you used to own.

Horace Walpole 9 hours ago

Rarely do I find myself aligned with Austrians, but this article keenly identifies many of the more odious objectives of the shady cabal behind this shift.

Having said that, it's safe to say that the people attempting to initiate this "Great Reset" are mentally retarded, and thus incapable of implementing their absurd agenda. In my estimation, their stupidity and senility will lead to a state of chaos on an international scale as they inevitably overplay their hand.

PrideOfMammon 8 hours ago (Edited)

They are not so much mentally retarded as otherwise-minded. They are Talmudo-Satanists and want a world in the image of their master, Satan.

Propaganda Ripper 7 hours ago (Edited)

In my estimation, their stupidity and senility will lead to a state of chaos on an international scale as they inevitably overplay their hand.

Let's hope they are not able to implement their real agenda.

Wayne 2 hours ago

They are indeed retarded on many levels. The in-breeding among the aristocracy is mind-boggling. I wouldn't be surprised if some of these billionaires bang their own daughters and have kids.

peterZ 2 hours ago

exact a price.

Yes, the price will depend on how long they are able to carry this out. With people being dragged from their homes by police what is next?

Yamaoka Tesshu 2 hours ago

The "people " I've seen "dragged from their homes" are most likely crisis actors. By letting it play out on TV, real people and real courts are avoided. Think of all the dodgy "shootings". They don't stand up to even cursory scrutiny. As long as the general population maintains a degree of credulity they can continue to spin tales out of whole cloth. And they will have the same effect as "real" events. They have been at this forever.

CatInTheHat 56 minutes ago

True.

Well said.

[Dec 30, 2020] Fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt by Brian Gallagher

Notable quotes:
"... "Some people's own incompetence somehow gives them a stupid sense that anything they do is first rate. They think it's great." ..."
"... Extreme views often stem from people feeling they understand complex topics better than they do. ..."
"... David Krakauer, the President of the Santa Fe Institute, told interviewer Steve Paulson, for Nautilus , stupidity is not simply the opposite of intelligence. "Stupidity is ... where adding more data doesn't improve your chances of getting [a problem] right," Krakauer said. "In fact, it makes it more likely you'll get it wrong." ..."
Dec 30, 2020 | getpocket.com

Why aren't there more people studying the science behind stupidity? Nautilus

On this past International Holocaust Remembrance Day, I reread a bit of Bertrand Russell. In 1933, dismayed at the Nazification of Germany, the philosopher wrote "The Triumph of Stupidity," attributing the rise of Adolf Hitler to the organized fervor of stupid and brutal people -- two qualities, he noted, that "usually go together."

He went on to make one of his most famous observations, that the "fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt." Russell's quip prefigured the scientific discovery of a cognitive bias -- the Dunning -- Kruger effect -- that has been so resonant that it has penetrated popular culture, inspiring, for example, Russell's quip

"Some people's own incompetence somehow gives them a stupid sense that anything they do is first rate. They think it's great."

No surprise, then, that psychologist Joyce Ehrlinger prefaced a 2008 paper she wrote with David Dunning and Justin Kruger, among others, with Russell's comment -- the one he later made in his 1951 book, New Hopes for a Changing World :

"One of the painful things about our time is that those who feel certainty are stupid, and those with any imagination and understanding are filled with doubt and indecision." "By now," Ehrlinger noted in that paper, "this phenomenon has been demonstrated even for everyday tasks, about which individuals have likely received substantial feedback regarding their level of knowledge and skill." Humans have shown a tendency, in other words, to be a bit thick about even the most mundane things, like how well they drive.

Stupidity is not simply the opposite of intelligence.

Russell, who died in 1970 at 97 years of age, probably would not be surprised to hear news of this new study , published in Nature Human Behaviour : "Extreme opponents of genetically modified foods know the least but think they know the most." The researchers, led by Philip Fernbach, cognitive scientist and co-author of The Knowledge Illusion: Why We Never Think Alone , analyzed survey responses from a nationally representative sample of U.S. adults.

They obtained similar results, they write, "in a parallel study with representative samples from the United States, France and Germany, and in a study testing attitudes about a medical application of genetic engineering technology (gene therapy)."

It was nevertheless consistent with prior work exploring the Dunning -- Kruger effect and the psychology of extremism, he Fernbach called their result "perverse." It was nevertheless consistent with prior work exploring the Dunning -- Kruger effect and the psychology of extremism, he said . " Extreme views often stem from people feeling they understand complex topics better than they do. " Now as ever, societies need to know how to combat this. But what exactly is stupidity?

David Krakauer, the President of the Santa Fe Institute, told interviewer Steve Paulson, for Nautilus , stupidity is not simply the opposite of intelligence. "Stupidity is ... where adding more data doesn't improve your chances of getting [a problem] right," Krakauer said. "In fact, it makes it more likely you'll get it wrong."

Intelligence, on the other hand ... allows you to solve complex problems with simple, elegant solutions. "Stupidity is a very interesting class of phenomena in human history, and it has to do with rule systems that have made it harder for us to arrive at the truth," he said.

... ... ...

Brian Gallagher is the editor of Facts So Romantic, the Nautilus blog.

[Dec 28, 2020] The biggest shakeup to my world view came with Russiagate.

Dec 28, 2020 | www.moonofalabama.org

librul , Dec 27 2020 14:58 utc | 2

I will elaborate.


The biggest shakeup to my world view came with Russiagate.

I had previously believed that intelligence sat at the top of the hierarchy for how people process information and get their belief systems.

Now I know that intelligence is a sub-layer in the hierarchy, and not even second.

Levels:

1) People identify with groups and get their beliefs from that group - herds.
2) People mimic their herd.
3) People apply intelligence to rationalize the beliefs that they already hold.


Trying to deprogram a headline-reader or ingestor of the MSM (aka MIC-mouthpiece)
by interacting with them at level #3 is like "spooning against the tide". You are not even getting close to level #1.
This is actually reinforcing people's delusion that they are operating primarily from an intelligence level - a catch-22.
You are telling them that their beliefs originate from intelligently gathered information. That isn't helping them.

Start paying attention to how often you trigger a mimic's cliche function.
It can be amusing. Then notice that you yourself were under the delusion that their beliefs originated intelligently.
That is why you are interacting with them in intelligent conversation, isn't it?
You believe that something that was birthed from intelligence can be untangled with your intelligent argument. Think again.

They have their beliefs that they mimic and then "confirmation bias" cements it,
and cementing it is the function of the endlessly repeated lies of the MIC-mouthpieces.
The repeated lies are kept fresh by putting them into new forms - Russiagate became Ukrainegate became Bountygate became Vaccinegate
(with occasional side trips into such places as MH17-gate, Skripal-gate and Assange-gate, etc).
You can spend your time showing them, for example, that the Skripal false-flag was a clown performance at best - the facts are out there for all to read.
But then, even if successful with that one, "what about this-gate and that-gate" - you haven't even scratched the surface of their
collective McCarthyism and thus by informing them about Skripal-gate "you are defending Russia". Good luck with that.

People are mimics that let their herd do their thinking for them. They have various skill levels at rationalizing to themselves the beliefs that they already hold.

p.s.

Put the three-level hierarchy to the test by considering people's religious beliefs.

People are typically born into those religious groups - level 1. They will consistently mimic the same cliches, for example, "G-d will curse those that do not support the Jews", "Jesus will throw you into a Lake of Fire", "Have a Blessed Day".

Do you think they all independently discovered these identical "Truths" on their own, and so, so many more, by their own personal study of the Bible?

They are mimicking - level 2. Now go and approach them at level 3 - the intelligence level - but don't neglect to carry a barf bag with you. Maybe you can succeed in reinforcing their delusion that their religious beliefs are intelligence based, but you will not even nudge them from their identity group - level 1. And you will only get for your trouble an ear full of mimicry.

---
I wrote the above last summer. Since then there have been more "-gates" such as the latest Multiple-US-agencies-Solarwinds-hack-gate. I mentioned Vaccinegate above and I had to stop and think about what that had been about as the public is being hosed with so much crap these days. Vaccinegate - supposedly the Russians had hacked our vaccine research.
---
recommended reading:
https://woodybelangia.com/what-is-mimetic-theory/


c1ue , Dec 27 2020 18:53 utc | 22

@librul #2
I think you overegg your view.
A significant part of the "me too" views these days is "rice bowl religion" - that is, belief maintained because the holder think they have to, in order to continue the economic prosperity.
Another significant part comes from the pervasiveness of mainstream media - both traditional and social media.

migueljose , Dec 27 2020 21:04 utc | 33

librul @ 2
Thanks Librul. Very insightful and accurate framing and description. Caitlin Johnstone also lays out the same perspective but yours stands alone as impressive.
Hope we're in the same herd! LOL!

[Dec 27, 2020] The comical and impotent figures of Comey, Mueller, Clapper, Rosenstein, Barr, Schiff, Nader, and such filled the stage during a production of the Russiagate farce.

Dec 27, 2020 | www.unz.com

annamaria , says: December 26, 2020 at 8:41 pm GMT • 4.2 hours ago

@Supply and Demand 'progressive' MeToo had disappeared. The MeToo activists love Bill Clinton and his various acquaintances, such as the badly aged idiots of Russian Pussy Riot and the Maxwells family. This is so progressive! See also the "progressive" Google/FaceBook/YouTube blanket censorship over anything that can be qualified as 'antisemitic' by the ADL (created in memory of a rapist and murderer Leo Frank). The 'progressives' have been taken for a ride by zionists.

The 'deplorables,' unlike Clintons, have a sense of dignity. As for the half-wit 'progressives,' they will undoubtedly have their chance to learn more about their most important tutors, the Trotskyists.

[Dec 20, 2020] Escobar- When Deplorables Become Ungovernables - ZeroHedge

Dec 20, 2020 | www.zerohedge.com

China, Russia and Iran are the top three existential "threats" to the U.S., according to the National Security Strategy. Three features distinguish the top three. They are all sovereign powers. They are under varying degrees of sanctions. And they are the top three nodes of the 21st century's most important, evolving geopolitical process: Eurasia integration.

What do the three sovereigns see when they examine the dystopia that took over Exceptionalistan?

They see, once again, three – discombobulated – nodes in conflict:

  1. the post-historic Pacific and Atlantic coasts;

  2. the South – a sort of expanded Dixieland;

  3. and the Midwest – what would be the American heartland.

The hyper-modern Pacific-Atlantic nodes congregate high-tech and finance, profit from Pentagon techno-breakthroughs and benefit from the "America rules the waves" ethos that guarantees the global primacy of the U.S. dollar.

The rest of America is largely considered by the Pacific-Atlantic as just a collection of flyover states: the South – which regards itself as the real, authentic America; and the Midwest, largely disciplined and quite practical-minded, squeezed ideologically between the littoral powerhouses and the South.

Superstructure, though, is key: no matter what happens, whatever the fractures, this remains an Empire, where only a tiny elite, a de facto plutocratic oligarchy, rules.

It would be too schematic, even though essentially correct, to assert that in the presidential election, invisible campaigner Joe Biden represented the Pacific-Atlantic nodes, and Trump represented the whole South.

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Assuming the election was not fraudulent – and that remains a big "if" – the Midwest eventually swung based on three issues.

  1. Trump, as much as he relied on a sanctions juggernaut, could not bring back manufacturing jobs home.

  2. He could not reduce the military footprint across the Greater Middle East.

  3. And, before Covid-19, he could not bring down immigration.

Everything that lies ahead points to the irreconcilable – pitting the absolute majority that voted Dem in the Atlantic-Pacific nodes versus the South and a deeply divided Midwest. As much as Biden-Harris is bound to isolate the South even more, their prospects of "pacifying" the Midwest are less than zero.

Whose ground control?

Beyond the raucous altercations on whether the presidential election was fraudulent, these are the key factual points.

  1. A series of rules in mostly swing states were changed, through courts, bypassing state legislatures, without transparence, before the election, paving the way to facilitate fraud schemes.

  2. Biden was de facto coronated by AP, Google and Twitter even before the final, official result, and weeks before the electoral college vote this past Monday.

  3. Every serious, professional audit to determine whether all received and tabulated votes were valid was de facto squashed.

In any Global South latitude where the empire did "interfere" in local elections, color revolution-style, this set of facts would be regarded by scores of imperial officials, in a relentless propaganda blitz, as evidence of a coup.

On the recent Supreme Court ruling, a Deep State intel source told me, "the Supreme Court did not like to see half the country rioting against them, and preferred the decision be made by each state in the House of Representatives. That is the only way to handle this without jeopardizing the union. Even prominent Democrats I know realize that the fix took place. The error was to steal too many votes. This grand theft indicts the whole system, that has always been corrupt."

Dangers abound.

On the propaganda front, for instance, far right nationalists are absolutely convinced that U.S. media can be brought to heel only by occupying the six main offices of the top conglomerates, plus Facebook, Google and Twitter: then you'd have full control of the U.S. propaganda mill.

Another Deep State source, now retired, adds that:

"the U.S. Army does not want to intervene as their soldiers may not obey orders.

Many of these far right nationalists were officers in the armed forces. They know where the nuclear missiles and bombers are. There are many in sympathy with them as the U.S. falls apart in lockdowns. "

Meanwhile, Hunter Biden's dodgy dealings simply will not be made to vanish from public scrutiny. He's under four different federal investigations. The recent subpoena amounts to a very serious case pointing to a putative crime family. It's been conveniently forgotten that Joe Biden bragged to the Council on Foreign Relations

that he forced Ukraine's chief prosecutor Viktor Shokin to be fired exactly when he was investigating corruption by Burisma's founder.

Of course, a massive army of shills will always invoke another army of omniscient and oh so impartial "fact checkers" to hammer the same message:

"This is Trump's version. Courts have said clearly all the evidence is baseless."

District Attorney William Barr is now out of the picture (see his letter of resignation). Barr is a notorious Daddy Bush asset since the old days – and that means classic Deep State. Barr knew about all federal investigations on Hunter Biden dating back to 2018, covering potential money laundering and bribery.

And still, as the Wall Street Journal delightfully put it, he "worked to avoid their public disclosure during the heated election campaign".

A devastating report (Dems: a Republican attack report) has shown how the Biden family was connected to a vast financial network with multiple foreign ramifications.

Then there's Barr not even daring to say there was enough reason for the Department of Justice to engage in a far-reaching investigation into voting fraud, finally putting to rest all "baseless" conspiracy theories.

Move on. Nothing to see here. Even if an evidence pile-up featured, among other instances, ballot stuffing, backdated ballots, statistical improbabilities, electronic machine tampering, software back doors, affidavits from poll workers, not to mention the by now legendary stopping the vote in the dead of night, with subsequent, huge batches of votes miraculously switching from Trump to Biden.

Once again an omniscient army of oh so impartial "fact checkers" will say everything is baseless.

A perverse blowback

A perverse form of blowback is already in effect as informed global citizens may now see, crystal clear, the astonishing depth and reach of Deep State power – the ultimate decider of what happens next in Dystopia Central.

Both options are dire.

  1. The election stands, even if considered fraudulent by nearly half of U.S. public opinion. To quote that peerless existentialist, The Dude, there's no rug tying the room together anymore.

  2. Was the election to be somehow overturned before January 20, the Deep State would go Shock and Awe to finish the job.

In either case, The Deplorables will become The Ungovernables.

It gets worse. A possible implosion of the union – with internal convulsions leading to a paroxysm of violence – may even be coupled with an external explosion, as in a miscalculated imperial adventure.

For the Three Sovereigns – Russia, China and Iran – as well as the overwhelming majority of the Global South, the conclusion is inescapable: if the current, sorry spectacle is the best Western liberal "democracy" has to offer, it definitely does not need any enemies or "threats". 111,246 644

[Dec 20, 2020] America outsourced because of the decline in profitability of domestic manufacturing. Capitalism did exactly what it was supposed to do and investors sought out better returns on their investments, which meant moving production elsewhere.

Dec 20, 2020 | www.moonofalabama.org

William Gruff , Dec 18 2020 16:43 utc | 97

NemesisCalling @92: "...we would be much better without trading so much in SE Asia..."

And the morbidly obese couch potato with severe heart disease and diabetes and a number of other lifestyle-related ailments would do much better to get up and get some exercise. Unfortunately a point exists beyond which efforts to reverse the atrophy of the body's systems become deadly and restoring health a near impossible task. America passed that point many years ago.

...has our trading relationship with China brought anything good to the people of the U.S.? (Beyond the obvious cheap consumer products which we all know only benefit the elite in this arrangement)

Many, if not most, Americans would not even be able to afford clothes if they were not cheap stuff made in China or Bangladesh. I would say those products being cheap certainly benefited those people who want to remain clothed.

"America is showing decline due in large part to our outsourcing"

You have that backwards. America outsourced because of the decline in profitability of domestic manufacturing. Capitalism did exactly what it was supposed to do and investors sought out better returns on their investments, which meant moving production elsewhere.

From a strictly pragmatic perspective, how would you propose to prevent market forces from directing investment to parts of the world where manufacturing is more profitable? Would you un-free the market and dictate to investors what they are to invest in?

If you look at all of the decisions between the late 1960s and the present that impacted outsourcing you will find that they are all quite understandable and very pro-capitalist. Particularly far-sighted people might have noted that the day of reckoning was just being delayed and the can kicked down the road, but kicking that can almost half a century down the road made a lot of sense back then. After all, that gave America decades to come up with a Plan B. It only became a problem after we had gotten down the road to where the can ended up only to discover that someone else had taken the can.


uncle tungsten , Dec 18 2020 21:36 utc | 113

William Gruff # 97

If you look at all of the decisions between the late 1960s and the present that impacted outsourcing you will find that they are all quite understandable and very pro-capitalist. Particularly far-sighted people might have noted that the day of reckoning was just being delayed and the can kicked down the road, but kicking that can almost half a century down the road made a lot of sense back then. After all, that gave America decades to come up with a Plan B. It only became a problem after we had gotten down the road to where the can ended up only to discover that someone else had taken the can.

Thank you brother Gruff, that is a perfect analogy. It always pays to have a Plan B that is immediately able to be implemented. My guess is that the USA Plan B was - invade some poor nation and plunder both the homeside taxpayers and the victims resources. In the case of the Saudis and Sunni occupied Gulf States all they had to do was bribe them with dazzling wealth and power (both economic and religious) and profit from the refined oil barrels.

The past two presidents have been looking for the can, the next one might have to create a better plan B fast or repeat the past Plan B just to be seen to be doing something. They sure don't look subtle/inventive enough yet to come up with a sophisticated, peaceful plan. Hint look at FDR / Henry Wallace as a start toward a socialist alternative.

Bemildred , Dec 18 2020 22:22 utc | 115

William Gruff # 97
Posted by: uncle tungsten | Dec 18 2020 21:36 utc | 113

The 70s was when they started selling the good redwood saw logs to Japan instead of cutting them up here because they could get more profit that way. At the time I do not think it was considered that the Japanese would be able to compete with us as well as they did, and I think the same applies to the other sellouts of our working class to foreign cheap manufacturing centers. You have to remember these people really do think they are better. They do think in class terms even if they avoid that rhetoric in public. The problem is they thought they could control China like they did Japan. That was dumb then and it looks even dumber now. You can see similar dumbness in their lack of grip on any realisitic view of Russia. Provincials really. Rich peasants.

[Dec 20, 2020] The American ruling class has failed on pretty much every issue of significance for the past several decades

Neoliberals as an occupying force for the country
Notable quotes:
"... The bottom line is the true enemies of the American people are no foreign nation or adversary---the true enemy of the American people are the people who control America. ..."
"... This way of thinking points to a dilemma for the American ruling class. Contrary to a lot of the rhetoric you hear, much of the American ruling class, including the "deep state" is actually quite anti-China. To fully account for this would take longer than I have here. But the nutshell intuitive explanation is that the ruling class, particularly Wall Street, was happy for the past several decades to enrich both themselves and China by destroying the American working class with policies such as "free-trade" and outsourcing. But in many ways the milk from that teat is no more, and now you have an American ruling class much more concerned about protecting their loot from a serious geopolitical competitor (China) than squeezing out the last few drops of milk from the "free trade." ..."
Dec 20, 2020 | www.moonofalabama.org
Bemildred , Dec 19 2020 2:00 utc | 124

This is awesome, he nails the dilemma which our owners are confronted with;

I'll put it this way: It is not as though the American ruling class is intelligent, competent, and patriotic on most important matters and happens to have a glaring blind spot when it comes to appreciating the threat of China. If this were the case, it would make sense to emphasize the threat of China above all else.

But this is not the case. The American ruling class has failed on pretty much every issue of significance for the past several decades. If China were to disappear, they would simply be selling out the country to India, Saudi Arabia, Vietnam, or some other country (in fact they are doing this just to a lesser extent).

Our ruling class has failed us on China because they have failed us on everything. For this reason I believe that there will be no serious, sound policy on China that benefits Americans until there is a legitimate ruling class in the United States. For this reason pointing fingers at the wickedness and danger of China is less useful than emphasizing the failure of the American ruling class. The bottom line is the true enemies of the American people are no foreign nation or adversary---the true enemy of the American people are the people who control America.

This way of thinking points to a dilemma for the American ruling class. Contrary to a lot of the rhetoric you hear, much of the American ruling class, including the "deep state" is actually quite anti-China. To fully account for this would take longer than I have here. But the nutshell intuitive explanation is that the ruling class, particularly Wall Street, was happy for the past several decades to enrich both themselves and China by destroying the American working class with policies such as "free-trade" and outsourcing. But in many ways the milk from that teat is no more, and now you have an American ruling class much more concerned about protecting their loot from a serious geopolitical competitor (China) than squeezing out the last few drops of milk from the "free trade."

The Zürich Interviews - Darren J. Beattie: If Only You Knew How Bad Things Really Are


Grieved , Dec 19 2020 3:12 utc | 129

@102 karlof1 - "By deliberately setting policy to inflate asset prices, the Fed has priced US labor out of a job, while as you report employers sought labor costs that allowed them to remain competitive."

I never heard it said so succinctly and truly as this before. That is what happened isn't it? The worker can't afford life anymore, in this country.

And if the worker can't afford the cost of living - who bears the cause of this, how follows the remedy of this, and what then comes next?

I really appreciate your point of view, which is the only point of view, which is that the designers of the economy, the governors of the economy, have placed the workers of the economy in a position that is simply just not tenable.

No wonder they strive to divide in order to rule - because they have over-reached through greed and killed the worker, who holds up the society.

How long can the worker flounder around blaming others before the spotlight must turn on the employer?

uncle tungsten , Dec 19 2020 3:12 utc | 130

Bemildred #115

You have to remember these people really do think they are better. They do think in class terms even if they avoid that rhetoric in public. The problem is they thought they could control China like they did Japan. That was dumb then and it looks even dumber now. You can see similar dumbness in their lack of grip on any realisitic view of Russia. Provincials really. Rich peasants.

Thank you, they certainly DO think in class terms ALWAYS. + Rich peasants is perfect :))

Thankfully they are blinded by hubris at the same time. The USA destroyed the Allende government in Chile in 1973. After the Nixon Kissinger visit to China in 1979 they assumed they could just pull a color revolution stunt when they deemed it to be the right time. Perhaps in their hubris they thought every Chinese worker would be infatuated with capitalism and growth.

They tested that out in the People Power colour (yellow) revolt in the Filipines in 1986 following a rigged election by Marcos. In 1989 only 16 years after China had been buoyed up with growth and development following the opening to USA capitalism, they tried out the same trick in Tienanmen square in China but those students were up against the ruling party of the entire nation - not the ruling class. BIG MISTAKE. The ruling party of China was solidly backed by the peasant and working class that was finally enjoying some meager prosperity and reward a mere 40 years after the Chinese Communist Party and their parents and grandparents had liberated China from 100 years of occupation, plunder, human and cultural rapine and colonial insult. Then in 2020 it was tried on again in Hong Kong. FAIL.

The hubris of the ruling class and its running dogs is pathetic.

We see the same with Pelosi and the ruling class in the Dimoratss today. They push Biden Harris to the fore, piss on the left and refuse to even hold a vote on Medicare for All in the middle of a pandemic. Meanwhile the USAi ruling class has its running dogs and hangers on bleating that "its wrong tactic, its premature, its whatever craven excuse to avoid exposing the ruling class for what they are - thieves, bereft of compassion, absent any sense of social justice, fakes lurking behind their class supposition.

They come here to the bar with their arrogant hubris, brimming with pointless information some even with emoji glitter stuck on their noses. Not a marxist or even a leftie among them. Still its class that matters and its the ruling class that we must break.

chu teh , Dec 19 2020 4:00 utc | 131

@102 karlof1 and Grieved | Dec 19 2020 3:12 utc | 129

I did not understand inflate-assets/suppress-workers and forgot to return to it to clear it up. Grieved sent me back to Karlof1. I just got it.

That viewpoint indeed explains method of operation to accomplish the results I observed. When Nixon was forced to default on Bretton Woods use of Gold Exchange Standard* [the USD is as good as gold], then printing fiat solved the problem [threat to US inventory of gold]....but printing fiat [no longer redeemable as a promise convert to gold] became the new problem [no way to extinguish the promises to redeem/pay].

So how to proceed? Aha! Steal from the workers; squeeze 'em, entertain and dazzle 'em!.. Such an elegant solution...slow, certain and hardly noticeable...like slow-boiling frogs...an on-going project as we blog.

Now I'll read Karlof1's link.

[Dec 10, 2020] The Transnational Financiers as aliens hell-bent of conquering the Earth population

Dec 10, 2020 | zerohedge.com

Dec 4, 2020 10:14 PM Reply to Le Chat Noir

The wonderful world you talk about was not experienced by the peoples of Guatemala, Iran, Chile, Honduras, Nicaragua, Mexico, Argentinia, Haiti, Vietnam, Laos, Cambodia, Iran, Iraq, Libya, Syria and many of the homeless and destitute in the US, UK, Japan etc. The wonderful world you describe is an illusion.

There is a line from the 1960s Science Fiction series called the Invaders from another galaxy who wish take over the world. At the beginning of each episode the narrator says " they wish to take over the world and make it their world".

The Transnational Financiers have been working towards that goal for centuries!!!!

[Dec 05, 2020] WATCH- Trump's Censored Speech OffGuardian

Notable quotes:
"... The billionaire owners of the media are deciding what you can and cannot see. Granting themselves a monopoly on "truth" and usurping the power of the ordinary citizen to inform themselves and make a reasoned decision ..."
"... 'I'll drain the swamp' ..."
"... 'I'll show you aliens' or 'I'll release the JFK truth' ..."
"... 'data rigging that wasn't policed ' ..."
Dec 05, 2020 | off-guardian.org

WATCH: Trump's Censored Speech The media refusing to air the President's allegations of vote rigging is an open display of who REALLY runs the country

https://www.youtube.com/embed/RFzTuaVS8Kk

On Wednesday, December 2nd Donald Trump – the sitting President of the United State of America – released a 46 minute recorded speech. In an alarming display of co-ordinated censorship, much of the media simply refused to air it.

In the speech (embedded above) he details all the suspicious behaviour surrounding the November 3rd election, as well as showing charts of evidence of peculiar activity in the vote counts of key swing states.

None of the major networks aired it in full. CNN simply refused to broadcast even clips, instead letting the millionaire son of a political dynasty lecture the viewing public in a bizarre ten-minute long abuse-laden rant .

Twitter and Facebook stuck "fact-check" warnings under anyone attempting to share it while papers like the Guardian or Independent post mocking summaries without ever showing – or even linking to – the original.

If you want to actually see the speech in full you have search out smaller youtube channels, or go to C-SPAN . (We would suggest downloading a copy while you can, it is likely to become hard to find. There's also a transcript here .)

Their defense of this overt censorship is that Trump is "endangering lives" and/or "encouraging violence" by calling the legitimacy of the vote into question. Such claims were never made about claims Putin's Russia had rigged the vote for Trump. In fact, Russiagate nonsense was spouted nightly by every major news outlet in the country, if not the world.

However they justify to themselves there's no denying the hard truth of it: The mainstream media are actively and openly engaged in the wholesale censorship of an elected head of state. Deliberately crippling the ability of an elected leader to communicate with the public.

Whether or not the vote was rigged – and there is more than enough reason to think that it was – the behaviour of the media is verging on the kind of co-ordinated gagging you would expect to happen during a palace coup.

Even if you hate Trump and love Biden, even if you don't care about the vote and count all modern democracy a sham, there's a coup going on here that's bigger than just who gets to sit in the Oval office:

The billionaire owners of the media are deciding what you can and cannot see. Granting themselves a monopoly on "truth" and usurping the power of the ordinary citizen to inform themselves and make a reasoned decision

Rigged vote or not, what's left of our crumbling democratic freedoms has never been in more danger.


John Goss , Dec 5, 2020 12:08 AM

I know Savorywill below would like to see this. The fight is not over yet. This is election fraud of the worst kind. The problem is those who did not get caught in this corruption but were still a part of it. The actual alleged turnout at the polls is highly questionable – the biggest ever. Now some might think that Joe Biden has that kind of charisma. Others have actually seen him perform.

https://www.youtube.com/watch?v=oQ9YGSMY2xg

It's no wonder the US is always questioning other countries' elections. It thinks its system is the model for the world.


Tom
, Dec 5, 2020 12:00 AM

They didn't really censor it. They just show his face, and tell you what they think of it before you even hear him. Pretty usual SOP for them I guess. Dec 4, 2020 11:44 PM

Thank you for publishing this article, and enabling people to watch the speech. At least 70 million Americans did vote for Trump (probably many more than that, if their votes had been counted). They are decidedly not happy to see what is taking place, to say the least. I went to Paddy's gambling side to see the odds of Trump winning late Tuesday, when normally the election is called, and Trump was indisputably odds on favorite (you would have made a fortune betting on Biden at that time!). Then the polls close, the election monitors are told to go home and the mail-in ballots are rolled in and counted in secret, with Republican monitors either not present or, if they were, not allowed to see what was going on.

If Biden does prevail, which seems highly likely, sadly, at this stage, his pick to be the Secretary of Defense, is Michèle Flournoy , a woman (of course!), but a woman who thinks that US troops should remain in Afghanistan to protect Afghani women from the Taliban !

You can't make this up! Trump stated in every rally, to tremendous applause, 'end the endless wars'. The Democrats are the war party now and they are filling government positions with sociopaths such as Madeleine Albright, famous for saying the death of 500,000 children in Iraq was 'worth it'. Worth it for what, I wonder. One thing is sure, though, those millions who did vote for Trump are not going to be pleased by what is going on. How they will express their displeasure is the big question, I guess. However, if it actually happens that the Supreme Court did rule in favor of Trump and invalidated enough mail-in votes to swing the election back to Trump, there would a shit storm of dissent from MSM and the deranged mobs of Trump haters that would likely wreak havoc on the whole country, nightly rampages of BLM and Antifa types terrorizing cities, others bringing out guns to defend themselves, possibly devolving into almost civil war conditions. Perhaps it is better to let Biden's minders have their way, make half hearted efforts to actually reduce CO2 emissions to 0% by 2025 (as Biden solemnly proclaimed in the final debate), give free health to all, allow people from south of border easy or unfettered access to come to the USA (of course, tear down that hateful wall), renew the practice of exporting jobs to other countries where the wages are lower so products can be made more cheaply, resulting in lower employment options for American workers. Then, obviously, the economy will tank and Trump, or someone on the same page, can run again in 2024 and save the day

George Mc , Dec 4, 2020 11:14 PM

I think you have to see the bigger picture. All politicians ultimately serve the most powerful forces i.e. the monied class. It's not a unified group but there is at any time a general direction which this class will take.

The Western world has lived in a comfortable boom bubble after WW2. Our society embodied an unprecedented affluence. And it could afford to project an image of "capitalism for all" or "capitalism with a friendly face".

It was a time of seeming celebration where the Western populace were in the happy position of being like eternal children – mesmerised by an increasingly glamourous entertainment field. And we got to act out a pretence at political participation every few years. The spectrum of potential political leaders effectively boiled down to two – which were merely two faces of the same force.

This comfortable theatre has lasted all our lives. But the underlying situation has changed through a downward economic spiral through which, up till now, we have "weathered the storm". The ruling class has gradually siphoned off more and more wealth to feed its insatiable hunger. And it has managed to do this while still maintaining that basic paradigm of "smiley face capitalism".

But we have reached a moment of crisis. The ruling class is now facing up to the fact that it can no longer maintain its power and luxuriance within the paradigm of a universal security. Thus we have the most transformative point since WW2. That vast majority of happy eternal children will find their hitherto comfortable lifestyles slipping away so that they will become a new peasant class.

And so the glamorous vision of capitalism for all must now give way. The image that is now in the ascendant is that of a war economy i.e. the old war economy. This is very different from the grand bellicosity which can be projected for a protected populace who, as it were, get to watch a televised image of war which is happening comfortably elsewhere. This time, the population itself is on the receiving end.

It is in this sense that the word "socialism" or even "Marxism" may be applied – not because the society we are headed towards is actual socialism. But because the old cold war image of communism with its seedy deprivation will indeed became reality for the vast majority.

So where does Trump fit in all this? Well – that aforementioned communist image is obviously more connected to the Left than the Right. In American terms, that means the Democrats are the ones "for the job".

And what is "the job"? Well it is the most efficacious path towards the slump i.e. the path that will generate the least resistance and the most docility. Hence: the pandemic. Trump's "Make America Great Again" rhetoric was not only obsolete but a positive obstacle to this great deprivation.

No longer the carrot but the stick. No longer prophets of hope but doom merchants. That is what the rulers need now if they want to preserve their position. And preserving their position is all they care abo

Lost in a dark wood , Dec 4, 2020 10:36 PM Reply to Brianborou

Trump is the counter coup against the central banking system, and it's why he has a portrait of Andrew Jackson overlooking his desk (see below). The war against the "invisible enemy" started in 2016 and what we are witnessing now is perhaps the beginning of the end. Probably the best rolling updates come from the X22 Report:
https://rumble.com/c/X22Report
--

https://www.salon.com/2019/10/02/donald-trumps-favorite-president-andrew-jackson-as-father-of-the-white-republic/
I don't know much about the detailed history, but I assume the above is at least a partial attempt to trash Jackson. However, it makes the point (perhaps inadvertently) that the British were always a serious threat, and the actions by Jackson should be viewed in the context of addressing that threat.

Brianborou. , Dec 4, 2020 11:47 PM Reply to Lost in a dark wood

Really, so how do you explain the most powerful bankers in the world bail him out of most of his business failed ventures ?

JuraCalling , Dec 5, 2020 12:00 AM Reply to Lost in a dark wood

Andrew Jackson was an intelligent and politically astute man.

Donald Trump is a billionaire property developer and celebrity.

Do you think Jackson would have had a picture of Trump anywhere( that doesn't include a dartboard )

George Mc , Dec 4, 2020 8:29 PM

One thing that this video gives the lie to is that Trump is a present day version of Hitler. Whatever you think of him, he puts his point forward with poise and dignity. Dec 4, 2020 8:25 PM

Trump's speech should've been broadcasted on MSM. That being said, anyone who foolishly supported sellout Bernie is well aware of how the Dems rig elections. It's done all a time by both parties. All elections are rigged.

In any event, this election was critical. The establishment Republicans, Democrats, and the security state wanted Trump out. They were all in on it.
The person involved (Trump) as usual is always the last to know. Trump, was purposely not given good advice–it was a set-up. Trump's team should've only consented to the "COVID mail-in election," if the mail-in ballots were "solicited" and signatures were matched to existing documentation. These solicited ballots needed to be counted as they came in. They all should've been required to be mailed out early way before election day. After those mail-in ballots were tabulated, then they would only have to count the ballots which were cast on election day.

However, this is what probably happened–the security state was stunned by Trump's popularity. They had no idea he was going to secure so many votes. That's why the counting was stopped and they needed to regroup. They had to keep the results solid for Biden so Trump would have no recourse. It was planned for a very long time.
Biden-Harris evolved into the ticket when Harris "their favorite" turned out to be a loser during the Dem primaries. That's why they pulled sleazy Joe out of the coffin to run with the Indian/Zionist Hillary puppet.

Geoff , Dec 4, 2020 7:42 PM

Apart from the fact it's outrageous that they rig elections, but the outcome is still the same, in the UK if the great socialist QC leader of the ludwick parry should win the next election what happens nothing never has never will, we must be the only country where you have to work a two year probationary period before you have any employment protection, give seven days notice for any industrial action , why not make it three months? As someone put it on here last week , putting a piece of paper into a ballot box is a grown up version of sending Santa a letter, after the last election, I'm finished never vote again it's a fuckin charade and I'm not joining in.

Joerg , Dec 4, 2020 7:42 PM

WATCH: Video footage from Georgia shows suitcases filled with ballots pulled from under a table AFTER supervisors told poll workers to leave room and 4 people stayed behind to keep counting votes

https://t.co/AcbTI1pxn4

Joerg , Dec 4, 2020 7:43 PM Reply to Joerg

The video itself has the direct:link:
https://twitter.com/TeamTrump/status/1334569329334083586

crank , Dec 4, 2020 7:40 PM Reply to JuraCalling

If this speech we can see hear was banned from reaching the public because of it's truth- why are we able to watch and listen ?

Of course none of us know. My 'take' is that it is part of a fairly elaborate bifurcation strategy. We are 'able to watch and listen' because of the pluralility and cross referencing of the internet. There is only one meaningful divide in Western politics now : those who hang on to the corporate media as a thread back to a believeable account of the world around them, and those who are thinking and do not. The PTB saw this divide coming. The corporate/state media ran Operation Trump as a bout featuring a bad wrestler character, knowing full well that a lot of what he says is, in fact, true. That he is the one saying it though, tar babies the truth with because it is his weird mouth uttering it. Lies then continue to prevail amongst the managerial classes.
None of this is about Donald Trump ulitmately, but electoral politics confuses several things in people's minds : the honesty of character of the individual standing as representative, the stated political objectives/ philosophies of the representative, the unstated objectives/ philosophy of the representative, the values and interests of those who get them into power, the capacity for that representative to work the system to get their objectives enacted etc.
The issue here is about the 70+ million voters who voted for what they think Donald Trump offers them. That they have not got what they seemed to want back in 2016, and that Trump had ample chance to push that along, reminds me that his "America First" declaration is the key (and perhaps only) lie in this speech.
The swing toward a renewed national conservatism in America is a problem for the global elites. So they set up a fake nationalism, sometimes referred to as 'Finkelthink', after its mastermind Arthur Finkelstein. There is a lot on this for anyone open minded enough to look into it.
The stage is being set by the Democrats and Trump together, to maximise chaos layered upon chaos. We all know why, because America (the dollar) is going down:
https://www.corbettreport.com/interview-1604-john-titus-on-central-bank-digital-currencies/

S Cooper , Dec 4, 2020 8:08 PM Reply to JuraCalling

"Not the most gracious loser is Donald."

"That is precious. Liars, cheats and charlatans lecturing anyone about "sportsmanship." They should first get some integrity. Oh wait, they can't. Because they have none. They have not only cheated Orange Hair Bozo, they have cheated the general public as well."

JuraCalling , Dec 4, 2020 8:24 PM Reply to S Cooper

I think a big part of this is a bit like the Roadrunner carton. No matter how 'wily' Wile E Coyote was, he always ended up with his own bomb exploding in his hand or getting stuck in his own trap.

Four years ago Trump tried to tap into the niche we know and love as 'alt'. He tempted with 'I'll drain the swamp' and 'I'll show you aliens' or 'I'll release the JFK truth' nuggets. Once he was in he developed a 'bromance' that looked like a terrible, terrible acid trip with Alex Jones.

Then there was a mass sweep of 'conspiracy theories' that had been prompted by Obama's blood lust. Suddenly we had Trumps attempt at Orwellian doublespeak as he called whatever he didn't agree with 'fake nooz'. Anyone asking the president a question- as has been protocol for 100 years- was ok if they asked ones he wanted to be asked; any others were branded as ' fake nooz '.

We were still hearing about 'Pizzagate' and the Clinton cartel of psychopaths 2 years into his reign. And even now Russiagate or Hackgate won't go away. So here we are. Trump has found another mixture of conspiracy to call 'fake nooz' .

But this one( according to him) has been to oust him from power.

We've never seen a public figure scrutinised so closely 24/7 in our time. Nobody has. I thought that kind of thing with Lady Diana was the peakt. But the Trump obsession has been off the scale from day one. I think it's down to his numerous cameo appearances on tacky sitcoms or public appearances at the square garden for the big fights. We all knew him in the UK. We never thought of him as a politician, just a slightly wacky billionaire with interesting hair and funny suits.

That the race was between him and Hilary was bad enough. In the UK, we had a complete dickhead who looks like he'd struggle in a job interviewer as the car park attendant end up the PM.

As Dystopia sets in, as the decks are cleared for a NWO and as politicians ready themselves to step aside and let the future structure's rulers- Scientists – take over, Democracy has to be seen as untrustworthy, along with the democratic process.

We can hope the vote -rigging talk goes away ( it's dull already, and less and less people buy the system anyway) but it's serving it's purpose. That being to demonstrate the lack of credibility of any system has that allows us plebs to have a say.

They won't blame us; they'll blame 'data rigging that wasn't policed ' . But we'll be told we'll have to vote by digital means after this. And that's not voting at all. It's pressing keys and a mouse. The results are already decided ahead of the game. Like now.

Captain Birdheart , Dec 4, 2020 6:16 PM

Here is a video version (12 minutes) of the Martin Geddes article 'The digital coup & the great exposure.

https://www.youtube.com/embed/LEFTSJkitYM?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent

Tom Larsen , Dec 4, 2020 7:15 PM Reply to Captain Birdheart

I doubt anybody living in the Biden media bubble would ever hear this.

TheCrow , Dec 4, 2020 6:22 PM Reply to Lisa

Trump is the political wing of the military industrial complex, and it looks like they are going to go for it.

Sandy Sanders , Dec 4, 2020 6:08 PM

But let's be honest about the US electoral system. Just concerning post WW2, It's a two-team battle much like a professional football league with just two franchises: playing, making the rules, running the game, refereeing, promoting, providing media and "journalistic" coverage, administering funding, policies, budgets and arenas, controlling ancillary business franchises; and literally charging, controlling behavior of and dictating every aspect of the event an attendance. The public's only power is to buy (being taxed) a ticket or watch the commercialed event on TV. Same two teams, same basic play, same outcome for everyone. The owners & 1% players and support franchises make out fabulously and the public sit in the serf's seats powerless and obedient. As ratified in 1789 and functioning in 2020, it's a rigged game from the start.

In the last 100 years we've had the incredibly popular socialist Henry Wallace, VP to FDR, sabotaged by internal Dem politics giving us the most incompetent Truman; JFK thru Chicago ballot rigging; internal sabotage of McGovern and Carter; the Anderson split sabotage of 1980; Gore in Florida 2000 w/SCOTUS & Dem sellout; Kerry Sellout in Ohio 2004; and the 3 million plus majority popular loss to the archaic Electoral College in 2016. For me the only solution for a survivable future was Wallace in 1948. But as 2020 was rigged, it has always been rigged by the system which is the Deep State to get what it wants: 1) a plutocracy that provides for the Commerce operations of the 1%; and 2) thwart, block & erase any functional democracy or potentiality of democratic socialism that allows the 99% to self-govern-provide for the social needs of humanity.

Gwyn , Dec 4, 2020 6:07 PM

And they'll still have the brass neck to bang on about "exporting democracy" to other countries. The USA is a bad joke of a country. A rogue state.

Which makes it the ideal henchman for the transnational financiers who run the world. A big, stupid bully with unlimited military spending at its disposal that can bomb countries that can't defend themselves into submission. Very courageous, those servants of illegitimate power from the Home of the Brave.

It's also called the Land of the Free, of course – which is slightly at odds with the fact that it's the proud possessor of the highest per capita rate of incarceration in the world. And they say the Yanks don't do irony!

Ross Hendry , Dec 4, 2020 6:41 PM Reply to Gwyn

"USA is a bad joke of a country."

Make that a sick joke. Americans on the other hand are mostly fine people (albeit amazingly oblivious/uncaring about the outrages that are done in their name).

Gwyn , Dec 4, 2020 8:04 PM Reply to Ross Hendry

The greatest outrage started on the day settlers landed there. A bit of humility, a bit of contrition, about the fate of the American Indians wouldn't go amiss (instead of all the idiotic, infantile bombast about the USA being the greatest country in the world).

Watt , Dec 4, 2020 8:44 PM Reply to Gwyn

Maybe some 'reparations' wouldn't go amiss! Major precedent is already in play, so to speak.

JuraCalling , Dec 5, 2020 12:10 AM Reply to Gwyn

It's Orwellian doublespeak Democracy.

Le Chat Noir , Dec 4, 2020 6:03 PM

We have all globally lost democracy and freedom in a very sinister and well co-ordinated revolution without a shot being fired, apart from the one they'll give you in the arm. I feel very sad for the young people, they'll never grow up in the wonderful world I knew.

[Dec 05, 2020] Lockdown lead to atomization of labour

Dec 05, 2020 | www.moonofalabama.org

Jen , Dec 3 2020 22:56 utc | 76

VK @ 24:

"... Lockdowns as being inherently against the working class is a capitalist (liberal) falsification: if you pay them while they're kept safe in their homes, you'll have the best of the two worlds for the working class (being paid without working). This option is only an anathema for the middle class and the capitalist class - who can't imagine a world without the proletarians serving them ..."

We all live in an interconnected world and middle class, capitalist class (whatever that's supposed to mean) and proletarians alike supply goods and services to one another. Money is the medium that facilitates such exchanges. It follows then that proletarians also serve one another and ditto for the other classes.

If working classes are paid to stay in their homes, who then supplies their needs? In spite of Jeff Bozo's efforts and those of Elon Musk, not all transport is self-automating and robots in Amazon warehouses still need some human inputs to operate quickly and without hitches.

One could also argue that working fulfils other, non-monetary needs. Karl Marx actually foresaw this when he wrote about anomie in capitalist systems of production, in which workers are denied control over their lives and the work they do by being denied any say in what they produce, how they produce it, the resources and environment needed to produce outputs, and maybe even whether they can be allowed to work at all.

Lockdowns can be viewed as another method in which to deny people control over their work and work environments. People socialise at work and lockdowns may be a way to deny workers a place or a means to connect with others (and maybe to form unions). Is it any wonder then, that during lockdowns people's mental health has become an issue and public health experts became concerned at the possibility that such phenomena as suicide and domestic violence could increase?


foolisholdman , Dec 3 2020 22:59 utc | 78

foolisholdman | Dec 3 2020 22:21 utc | 68


You can understand this from this quotation. It is the internal contradictions of the wesern capitalist system that is driving the changes we observe, not "pressure applied by China", which I would say is a myth.

"The fundamental cause of the development of a thing is not external but internal: it lies in the contradictionariness within the thing. This internal contradiction exists in every single thing, hence its motion and development. Contradictionariness within a thing is the fundamental cause of its development, while its interrelations and interactions with other things are secondary causes."

"It (Materialist dialectics) holds that external causes are the conditions of change and internal causes are the basis of change, and that external causes become operative through internal causes. In a suitable temperature an egg changes into a chicken, but no temperature can change a stone into a chicken, because each has a different basis."
Mao Zedong. "On Contradiction" August 1937. Selected Works, Vol.1, p.315.

Mark2 , Dec 3 2020 23:09 utc | 80

Lockdowns are a medical protection to eradicate a contagious virus.
The lock downs we have had are fake and we're designed to fail. For political reasons.
The very people who complained 10 months ago, were responsible for them not working,
10 months later those people are still complaining. They are the ones who have prolonged the contagion.
They are to blame. That includes the polatians and duped public.
It's deliberate !

[Dec 02, 2020] Under neoliberalism the US is hollowing itself out politically, economically, spiritually, and morally; the power structures have mutated to a corporate owned dictatorship.

Dec 02, 2020 | www.unz.com

Biff , says: November 30, 2020 at 1:57 am GMT • 1.5 days ago

In America, infrastructure ages, trains look like something from a Fifties movie, transportation deteriorates as all the money goes to the military . Since the US doesn't do much civil engineering, and hasn't for many years, it would probably have to hire foreign firms should it decide to modernize. (See TSMC above.)

Regardless of what China is doing, or India, Iran, Russia or Botswana, the U.S. is hollowing itself out politically, economically, spiritually, and physically. This is due to how power structures have mutated from a government controlled republic to a corporate owned dictatorship.

The fake bureaucracy's and infighting about equality, gender rights, and racism are distractions while the corporate dictatorship rules by decree, and it is transferring more wealth and power day by day, year by year. Freedoms and choices are being systematically reduced to zero.

The day Johnny Carson died should be the swan song.

Notsofast , says: November 30, 2020 at 3:02 am GMT • 1.4 days ago

20 years ago, when the neo-cons were able to strongarm their way into power, this country had such a huge advantage in terms of technology and military might, they felt they had no equal and never would. their hubris and megalomania launched us on the disastrous path that in a scant two decades has led us to the brink of destruction as a society. both russia and china have eclipsed us in terms of military and civilian technologies. my greatest fear is that these same neo-cons have stolen this election as well and will now flip the chessboard rather than face the humiliating defeat that is the result of their corruption, stupidity and hubris.

TomSchmidt , says: November 30, 2020 at 4:05 am GMT • 1.4 days ago
@Biff ot fed, those who are cold and are not clothed.
This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. It is two fine, fully equipped hospitals. It is some fifty miles of concrete pavement. We pay for a single fighter with a half-million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people.
Alfa158 , says: November 30, 2020 at 4:18 am GMT • 1.4 days ago

...The parasites who dismantled the US think it's not a problem because they can just shift operations to China as the new host and repeat that trick.

Achmed E. Newman , says: Website November 30, 2020 at 5:37 am GMT • 1.3 days ago

You can't argue with the real engineering going on over there, especially the Civil Engineering. When you don't have a thousand tax-payer-supported bureaucrats from a hundred different agencies and even "Non-Governmental Organizations" blocking every thought you have, it's hard to get things done. There's no doubt that the huge military spending on "democracy for the world" and the squandering of the huge amount of goodwill and power accumulated at the end of the Cold War is part of America's problem (thanks NotSoFast). Mr. Reed never mentioned the increase in regulation and taxation by the Feral Beast that has turned America into a Can't-Do country.

It's a great photo essay on the amazing engineering advances out of China, but, as usual, Fred gets major things wrong.

I don't know what the deal is with Mr. Reed's repetitive harping on Americans' concern for intellectual property rights. The Chinese will do fine without our help now, but it's the theft of the IP of American engineering that has gotten them this far so fast. Why would you not be concerned with your ideas being stolen? Not giving your stuff away for free is not the same as trying to "cripple development. That's water under the bridge now but stupidity by Mr. Reed nonetheless.

[Nov 28, 2020] Fratelli tutti (3 October 2020) - Francis

Nov 28, 2020 | www.vatican.va

38. Sadly, some "are attracted by Western culture, sometimes with unrealistic expectations that expose them to grave disappointments. Unscrupulous traffickers, frequently linked to drug cartels or arms cartels, exploit the weakness of migrants, who too often experience violence, trafficking, psychological and physical abuse and untold sufferings on their journey". [37] Those who emigrate "experience separation from their place of origin, and often a cultural and religious uprooting as well. Fragmentation is also felt by the communities they leave behind, which lose their most vigorous and enterprising elements, and by families, especially when one or both of the parents migrates, leaving the children in the country of origin". [38] For this reason, "there is also a need to reaffirm the right not to emigrate, that is, to remain in one's homeland". [39]

39. Then too, "in some host countries, migration causes fear and alarm, often fomented and exploited for political purposes. This can lead to a xenophobic mentality, as people close in on themselves, and it needs to be addressed decisively". [40] Migrants are not seen as entitled like others to participate in the life of society, and it is forgotten that they possess the same intrinsic dignity as any person. Hence they ought to be "agents in their own redemption". [41] No one will ever openly deny that they are human beings, yet in practice, by our decisions and the way we treat them, we can show that we consider them less worthy, less important, less human. For Christians, this way of thinking and acting is unacceptable, since it sets certain political preferences above deep convictions of our faith: the inalienable dignity of each human person regardless of origin, race or religion, and the supreme law of fraternal love.

40. "Migrations, more than ever before, will play a pivotal role in the future of our world". [42] At present, however, migration is affected by the "loss of that sense of responsibility for our brothers and sisters on which every civil society is based". [43] Europe, for example, seriously risks taking this path. Nonetheless, "aided by its great cultural and religious heritage, it has the means to defend the centrality of the human person and to find the right balance between its twofold moral responsibility to protect the rights of its citizens and to assure assistance and acceptance to migrants". [44]

41. I realize that some people are hesitant and fearful with regard to migrants. I consider this part of our natural instinct of self-defence. Yet it is also true that an individual and a people are only fruitful and productive if they are able to develop a creative openness to others. I ask everyone to move beyond those primal reactions because "there is a problem when doubts and fears condition our way of thinking and acting to the point of making us intolerant, closed and perhaps even – without realizing it – racist. In this way, fear deprives us of the desire and the ability to encounter the other". [45]

THE ILLUSION OF COMMUNICATION

42. Oddly enough, while closed and intolerant attitudes towards others are on the rise, distances are otherwise shrinking or disappearing to the point that the right to privacy scarcely exists. Everything has become a kind of spectacle to be examined and inspected, and people's lives are now under constant surveillance. Digital communication wants to bring everything out into the open; people's lives are combed over, laid bare and bandied about, often anonymously. Respect for others disintegrates, and even as we dismiss, ignore or keep others distant, we can shamelessly peer into every detail of their lives.

43. Digital campaigns of hatred and destruction, for their part, are not – as some would have us believe – a positive form of mutual support, but simply an association of individuals united against a perceived common enemy. "Digital media can also expose people to the risk of addiction, isolation and a gradual loss of contact with concrete reality, blocking the development of authentic interpersonal relationships". [46] They lack the physical gestures, facial expressions, moments of silence, body language and even the smells, the trembling of hands, the blushes and perspiration that speak to us and are a part of human communication. Digital relationships, which do not demand the slow and gradual cultivation of friendships, stable interaction or the building of a consensus that matures over time, have the appearance of sociability. Yet they do not really build community; instead, they tend to disguise and expand the very individualism that finds expression in xenophobia and in contempt for the vulnerable. Digital connectivity is not enough to build bridges. It is not capable of uniting humanity.

Shameless aggression

44. Even as individuals maintain their comfortable consumerist isolation, they can choose a form of constant and febrile bonding that encourages remarkable hostility, insults, abuse, defamation and verbal violence destructive of others, and this with a lack of restraint that could not exist in physical contact without tearing us all apart. Social aggression has found unparalleled room for expansion through computers and mobile devices.

45. This has now given free rein to ideologies. Things that until a few years ago could not be said by anyone without risking the loss of universal respect can now be said with impunity, and in the crudest of terms, even by some political figures. Nor should we forget that "there are huge economic interests operating in the digital world, capable of exercising forms of control as subtle as they are invasive, creating mechanisms for the manipulation of consciences and of the democratic process. The way many platforms work often ends up favouring encounter between persons who think alike, shielding them from debate. These closed circuits facilitate the spread of fake news and false information, fomenting prejudice and hate". [47]

46. We should also recognize that destructive forms of fanaticism are at times found among religious believers, including Christians; they too "can be caught up in networks of verbal violence through the internet and the various forums of digital communication. Even in Catholic media, limits can be overstepped, defamation and slander can become commonplace, and all ethical standards and respect for the good name of others can be abandoned". [48] How can this contribute to the fraternity that our common Father asks of us?

Information without wisdom

47. True wisdom demands an encounter with reality. Today, however, everything can be created, disguised and altered. A direct encounter even with the fringes of reality can thus prove intolerable. A mechanism of selection then comes into play, whereby I can immediately separate likes from dislikes, what I consider attractive from what I deem distasteful. In the same way, we can choose the people with whom we wish to share our world. Persons or situations we find unpleasant or disagreeable are simply deleted in today's virtual networks; a virtual circle is then created, isolating us from the real world in which we are living.

48. The ability to sit down and listen to others, typical of interpersonal encounters, is paradigmatic of the welcoming attitude shown by those who transcend narcissism and accept others, caring for them and welcoming them into their lives. Yet "today's world is largely a deaf world At times, the frantic pace of the modern world prevents us from listening attentively to what another person is saying. Halfway through, we interrupt him and want to contradict what he has not even finished saying. We must not lose our ability to listen". Saint Francis "heard the voice of God, he heard the voice of the poor, he heard the voice of the infirm and he heard the voice of nature. He made of them a way of life. My desire is that the seed that Saint Francis planted may grow in the hearts of many". [49]

49. As silence and careful listening disappear, replaced by a frenzy of texting, this basic structure of sage human communication is at risk. A new lifestyle is emerging, where we create only what we want and exclude all that we cannot control or know instantly and superficially. This process, by its intrinsic logic, blocks the kind of serene reflection that could lead us to a shared wisdom.

50. Together, we can seek the truth in dialogue, in relaxed conversation or in passionate debate. To do so calls for perseverance; it entails moments of silence and suffering, yet it can patiently embrace the broader experience of individuals and peoples. The flood of information at our fingertips does not make for greater wisdom. Wisdom is not born of quick searches on the internet nor is it a mass of unverified data. That is not the way to mature in the encounter with truth. Conversations revolve only around the latest data; they become merely horizontal and cumulative. We fail to keep our attention focused, to penetrate to the heart of matters, and to recognize what is essential to give meaning to our lives. Freedom thus becomes an illusion that we are peddled, easily confused with the ability to navigate the internet. The process of building fraternity, be it local or universal, can only be undertaken by spirits that are free and open to authentic encounters.

FORMS OF SUBJECTION AND OF SELF-CONTEMPT

51. Certain economically prosperous countries tend to be proposed as cultural models for less developed countries; instead, each of those countries should be helped to grow in its own distinct way and to develop its capacity for innovation while respecting the values of its proper culture. A shallow and pathetic desire to imitate others leads to copying and consuming in place of creating, and fosters low national self-esteem. In the affluent sectors of many poor countries, and at times in those who have recently emerged from poverty, there is a resistance to native ways of thinking and acting, and a tendency to look down on one's own cultural identity, as if it were the sole cause of every ill.

52. Destroying self-esteem is an easy way to dominate others. Behind these trends that tend to level our world, there flourish powerful interests that take advantage of such low self-esteem, while attempting, through the media and networks, to create a new culture in the service of the elite. This plays into the opportunism of financial speculators and raiders, and the poor always end up the losers. Then too, ignoring the culture of their people has led to the inability of many political leaders to devise an effective development plan that could be freely accepted and sustained over time.

53. We forget that "there is no worse form of alienation than to feel uprooted, belonging to no one. A land will be fruitful, and its people bear fruit and give birth to the future, only to the extent that it can foster a sense of belonging among its members, create bonds of integration between generations and different communities, and avoid all that makes us insensitive to others and leads to further alienation". [50]

[Nov 26, 2020] The historic Trump presidency emasculated globalism by Patrick J. Buchanan

Nov 26, 2020 | www.wnd.com

The historic Trump presidency emasculated globalism Pat Buchanan notes how the elite Bush-type Republicans have been silenced Patrick J. Buchanan By Patrick J. Buchanan Published November 26, 2020 at 6:39pm Share on Facebook Tweet P Share Email Print In the first two decades of the century, President-elect Joe Biden's choice for secretary of state supported U.S. wars in Afghanistan, Iraq, Libya, Syria and Yemen. He was an ever-reliable liberal interventionist.

This same Antony Blinken could spend the first years of a Biden presidency helping extricate our country from the misbegotten wars he championed. What establishment Democrats like Biden and Blinken helped to do in previous administrations, they will likely now have to undo.

Who effected this sea change in national thinking?

Donald Trump. Much that was said and believed before he came down the escalator in 2015 is no longer said or believed by the majority of Americans.

And no institution has been more altered than the Republican Party.

How I beat election fraud in America's most corrupt state TRENDING: Employees melt down after learning company is publishing prominent conservative Jordan Peterson's book: Report

George H.W. Bush's vision of a "New World Order," launched at the after-party of his Gulf War victory, died with his presidency.

George W. Bush's crusade for global democracy to "end tyranny in our world" has been forgotten. Bush Republicans no longer speak for the party on foreign policy, trade or immigration.

NATO will never be the same again after Trump rudely demanded that freeloading nations pay their fair share of the collective defense or the Americans would pack up and come home from Europe.

Former Defense Secretary Gen. James Mattis may call for the ash-canning of the phrase "America First." He will fail. For, as both national motto and national policy, the slogan has put down roots in American soil because it comports with the will of the silent majority.

Whatever the establishment believes, in the clash between nationalism and globalism, globalism has lost America.

Moreover, the world is going this way.

Does not Xi Jinping put his own country first as he claims for China all the waters and islands for hundreds of miles into the East and South China seas? Does not Vladimir Putin put his own country first as he seeks to bring back under Moscow's wing the former republics of the Russian federation?

Does not President Erdogan put Turkey first as he sends arms and troops to pursue his country's interests in Libya, Syria, Cyprus, the South Caucasus and the Eastern Mediterranean in clashes with Greece?

What does Bibi Netanyahu put first, if not his own country, Israel?

If country and nation are not first in the hearts and minds of Americans, what should replace them? Some nonexistent New World Order? The U.N.? NATO? A multilateral caucus of global institutions?

Under Trump, economic nationalism has displaced free trade globalism as the trade policy of the party and government.

The GOP elite that backed Bill Clinton on NAFTA, supported a new transnational World Trade Organization, invited China to join the club and accorded Beijing most-favored-nation trade status is now silent.

Tariffs to force open foreign markets and punish predator-traders who take advantage of American workers have replaced the free trade fundamentalism that had been dogma since Dwight Eisenhower's days.

Nor is the Republican Party likely to return to free trade, as long as "China First" is the undeclared policy pursued by the nation that has now displaced us as the world's leading manufacturing power.

The George Bush-John McCain Republican Party was for amnesty for illegals and open borders for new migrants. Today's GOP supports the deportation of illegals and the 30-foot Trump Wall on the Mexican border.

[Nov 25, 2020] "Social" media as a cancer: it creates tightly insulated echo chambers which masturbate our confirmation bias and hide any information which might cause us cognitive dissonance

Nov 25, 2020 | caitlinjohnstone.com

ROUNDBALL SHAMAN / NOVEMBER 24, 2020

"social media is notorious for the way it creates tightly insulated echo chambers which masturbate our confirmation bias and hide any information which might cause us cognitive dissonance by contradicting it. Whole media careers were built on this phenomenon "
.
So-called "social" media is a cancer eating away at our humanity and our sense of community with every passing moment. It is a devil's brew of the worst of human thought and behavior that seeks to lower the level of human interaction with every click and toxic retort. It may be the tool that actually does us in even more than the other big threats to our existence.
.
"Splitting the public up into two oppositional factions who barely interact and can't even communicate with each other because they don't share a common reality keeps the populace impotent, ignorant, and powerless to stop the unfolding of the agendas of the powerful."
.
People today have short attention spans. They don't have any depth of thinking and they certainly don't want shades of grey. The Dark Powers successfully exploit this weakness to their benefit with little pushback from an easily amused public. Those who love simplicity don't want anything more challenging and they certainly aren't the least bit concerned about those who are actively doing them in.
.
"You should not be afraid of your government being too nice to China. What you should worry about is the US-centralized power alliance advancing a multifront new cold war conducted simultaneously against two nuclear-armed nations for the first time ever in human history. "
.
We should indeed be concerned about Empires measuring the size of their manhoods against each other but since that has nothing to do with reporting on our neighbors for not wearing masks or the speed of our internet connections or the latest video of some fool acting the fool on the web we won't be concerned about it. You gotta have priorities, you know.

[Nov 25, 2020] Biden is to the extreme right of Trump on the issue of the US's endless neocolonial wars. And Biden is already laying the groundwork for the deconstruction of Social Security, work he began as VP to Obama. That makes Biden to the extreme right of Trump on foreign domestic issues...all thanks to the "blue no matter who" crowd.

So what Biden is trying to achieve is to stem the collapse of neoliberalism and with it the global US-controlled neoliberal empire.
Notable quotes:
"... IMO, all three of the turn-of-the-century free-market-neolibral model, the hypothetical Trump(ish) nationalist model, and the revised technocratic-neoliberal schemes, are fatally flawed. Despite the political rhetoric of US Republicans, there's no real prospect of an even mildly leftist (i.e. inclusive, egalitarian, and internationalist) alternative anytime soon in the US. I suspect the same is true in most neoliberal countries. ..."
Nov 25, 2020 | www.moonofalabama.org
S Brennan , Nov 24 2020 17:14 utc | 10

The man is a war mongering psycho:

Blinken surprised some in the Situation Room by breaking with Biden to support military action in Libya, administration officials said, and he advocated for American action in Syria after Obama's reelection. These sources said that Blinken was less enthusiastic than Biden about Obama's decision to seek congressional approval for a strike in Syria, but is now -- perhaps out of necessity -- onboard and a backer of diplomatic negotiations with Russia. While less of an ideologue than Samantha Power, the U.S. ambassador to the United Nations (a job for which he was considered), he not surprisingly shares her belief that global powers such as the United States have a "responsibility to protect" against atrocities.

He has since shown no remorse about those foreign policy failures:

Blinken maintains that the failure of U.S. policy in Syria was that our government did not employ enough force. He stands by the false argument that Biden's vote to authorize the invasion of Iraq was a "vote for tough diplomacy." He was reportedly in favor of the Libyan intervention, which Biden opposed, and he was initially a defender and advocate for U.S. support for the Saudi coalition war on Yemen. In short, Blinken has agreed with some of the biggest foreign policy mistakes that Biden and Obama made, and he has tended to be more of an interventionist than both of them.

Jake Sullivan will become National Security Advisor. He is a Hillary Clinton figure :

If you can't quite place Jake Sullivan, he's was a long-serving aide to Hillary Clinton, starting with her 2008 race against Barack Obama, then serving as her deputy chief of staff and director of the State Department's Office of Policy Planning when Clinton was Obama's secretary of state. (...) In 2016, during her failed presidential campaign, Sullivan once again teamed up with Clinton, and he was widely expected to have been named to serve as her national security adviser or even secretary of state had she won.

Since 2016, and since the creation of NSA, Sullivan has emerged as a kind of foreign policy scold, gently -- and sometimes not so gently -- criticizing those who reflexively oppose American intervention abroad and who disparage the idea of American "exceptionalism." Indeed, in an article in the January-February issue of The Atlantic, "What Donald Trump and Dick Cheney Got Wrong About America," Sullivan explicitly says that he's intent on "rescuing the idea of American exceptionalism" and presents the "case for a new American exceptionalism".

Sullivan send classified documents to Hillary Clinton's private email server. He wrote to her that Al Qaida is "on our side in Syria." He also hyped fake Trump-Russia collusion allegations.

It is yet unknown who will become Secretary of Defense. Michèle Flournoy is the most named option but there is some opposition to her nomination :

[B]ackers of Michèle Flournoy, his likely pick for defense secretary, are trying to head off a last-minute push by some left-leaning Democrats trying to derail her selection, with many progressives seeing her nomination as a continuation of what critics refer to as America's "forever wars."

I expect that the progressive will lose the fight and that either Flournoy or some other hawkish figure will get that weapon lobbyist position.

Progressives also lost on the Treasury position. Biden's nomination for that is Janet Yellen who is known to be an inflation hawk. She is unlikely to support large spending on progressive priorities.

As usual with a Democratic election win the people who brought the decisive votes and engagement, those who argue for more socialist and peaceful policies, will be cut off from the levers of power.

In three years they will again be called upon to fall for another bait and switch.

As I said over at Ian Welsh's blog

"this is brought on by the "blue no matter who crowd" who can't understand that guaranteeing their vote at the outset without extorting any firm quid pro quo a priori guarantees that [working people] can be safely ignored. And yet, almost everybody here [reminder, posted at Ian's] argued for just that and will the next time and the next.

Why will something like that happen

If the polls are to be believed, Biden is the most popular Democrat of all time and by a large margin. If polls are to be believed, the DNC denying the Sanders wing was the smartest thing the DNC has ever done. If polls are to be believed, Biden strode through battle unscathed while lessor Democrats were squashed. The DNC was right, the Sanders people are fools, if polls are to be believed. The immense Biden vote proves once and for all, that any who diverge from DNC dictata should be ignored for all time.

That was the message sent in 2020"

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Biden is to the extreme right of Trump on the issue of the US's endless neocolonial wars. And Biden is already laying the groundwork for the deconstruction of Social Security, work he began as VP to Obama. That makes Biden to the extreme right of Trump on foreign & domestic issues...all thanks to the "blue no matter who" crowd. Meanwhile, the election "make 'em scream" ploy Pelosi employed will toss millions off federal extensions of unemployment midnight 31 Dec 2020 until congress reconvenes.

And for all those who claimed Trump to be evil incarnate, worse than Hitler...in a few weeks, facts will show those people to be clownish frauds.


ptb , Nov 24 2020 18:20 utc | 25

yep. sad. Yellen for Treasury is interesting, and a crucial position to watch. Mnuchin basically ran the Trump administration's economic policy, as far as there was one.

One of the watchwords of the coming era is the "Great Reset", i.e. a limited shift in the direction of a technocratic planned economy. In a way, this began after 2008 when the FED intervened in stock and bond markets to such a degree that its interventions became the dominant driving force. With that, "market forces" couldn't plausibly remain a reflection of free competition as the theory postulated. The fact that this measure had to be taken (i.e. markets had to be overtly "fixed"), is an implicit admission that the thesis of the free-market purists, the dream of the Reagan-Clinton era, has been falsified.

The proposed solution, at least the version coming from the high business class (and exaggerated further still by right-wing critics of Great Reset) seems like a recipe to worsen the problem of "regulatory capture" above all else. I.e. the agents and beneficiaries of the neoliberal era making an effort to adapt, without giving up the benefits of the prior economic regime. Likelyhood of fixing inequalities is nil. The emphasis is on reinforcing the stability of the system, holding on to power, perhaps competing with threatening alternatives from the "outside", although that would seem to be a second priority.

Trump did put up a facade of a nationalist alternative, which had the effect of acknowledging the inequalities and failures of the neoliberal system, but offering an equally harmful solution. Besides that, if you look at who was making economic policy in the past 4 years (Treasury Dept), the nationalist facade was false, as far as domestic economic matters were concerned.

IMO, all three of the turn-of-the-century free-market-neolibral model, the hypothetical Trump(ish) nationalist model, and the revised technocratic-neoliberal schemes, are fatally flawed. Despite the political rhetoric of US Republicans, there's no real prospect of an even mildly leftist (i.e. inclusive, egalitarian, and internationalist) alternative anytime soon in the US. I suspect the same is true in most neoliberal countries.

So Biden comes into this moment, with a clear mandate -- from the sponsors -- to reinforce the status quo. He brings Yellen into this moment in a the crucial position.

Lex , Nov 24 2020 19:08 utc | 38

Of course Biden's foreign policy team and the policy itself will be shit. As it was for the trump admin, the Obama admin, the Bush II admin, the Clinton admin, the Bush I admin, the fucking Reagan admin, then there's carter and Nixon. Look, I can take this back all the way to Washington. Biden's not special. It's always been an empire; trump did nothing to dismantle it; but now it's a failing empire.

And don't try the "Trump's instincts were dashed by the deep state". Dude constantly bragged about how much he spent on the DoD. If he could find a way to personally profit from the empire he would have.

karlof1 , Nov 24 2020 22:25 utc | 62

Here's an interview given by acclaimed Canadian International Law lawyer Christopher Black who is rather pessimistic given the team members and its chief. While I disagree on a few minor points, I agree with his overall assessment:

"The Americans proclaim they are all for competition but we know that means only when it puts them in the superior position; and to maintain their position they are willing to threaten and attack the world if necessary; and there are a myriad of domestic problems in the USA which they have no way out of, since the two ruling parties have no solutions to offer, except war."

I would disagree with war being a solution; rather, it exacerbates many already existing problems. However, war would make revolution more likely. Since it's highly unlikely the Empire could make the "Moderate Rebel" ploy work again, to escalate in Syraq as Biden's nominee wants would require a direct assault by Imperial Stormtroopers, and that would be a huge domestic error during the continuing pandemic.

oldhippie , Nov 24 2020 23:32 utc | 65

Mark2 @ 63

Your buddy was born in Havana and grew up in Miami's Cuban hole. And he's Jewish. I'll eat my hat if the family was not personal friends/business partners with Meyer Lansky and Myer Schine. Wonderful, Homeland Security has been given to the Mafia.

Expect more of same from Biden.

vk , Nov 24 2020 23:42 utc | 67

It reminds me very much Khrushchev's government. He went in guns blazing, accusing Stalin as outdated and promising a whole new paradigm (economic and geopolitical). He failed miserably in both. He was toppled in 1964 and substituted by a figure of the "establishment", Leonid Brezhnev, who basically restored what existed during Stalin and effectively gave up making the USSR better. The first proletarian State would disintegrate soon.

Not saying Yellen-Biden will be the American Brezhnev - they are much lesser historical figures than he was - but pay attention to the pattern.

Trisha , Nov 25 2020 0:00 utc | 68

Should come as no surprise that where it matters, Biden is Trump wearing a smiley face, just like Pelosi is Trump in a wig. Actually, considering actual body count and misery inflicted on vast populations, Biden's record is WORSE than Trump.

[Nov 23, 2020] The Coronavirus Pandemic Has Killed America's Reputation for Competence

Mar 23, 2020 | foreignpolicy.com
Washington's reputation for expertise has been one of the greatest sources of its power. The coronavirus pandemic may end it for good.

... that's not the only damage the United States will suffer. Far from making "America great again," this epic policy failure will further tarnish the United States' reputation as a country that knows how to do things effectively.

For over a century, the United States' outsized influence around the world rested on three pillars. The first was the its awesome combination of economic and military strength. The United States had the world's largest and most sophisticated economy, the world's best universities and research centers, and a territory blessed with bountiful natural resources. These features eventually enabled the United States to create and maintain military forces that none of its rivals could match. Taken together, these combined assets gave the United States the loudest voice on the planet.

The second pillar was support from an array of allies. No country every agreed with everything Washington wanted to do, and some states opposed almost everything the United States sought or stood for, but many countries understood that they benefited from U.S. leadership and were usually willing to go along with it. Although the United States was almost always acting in its own self-interest, the fact that others had similar interests made it easier to persuade them to go along.

A third pillar, however, is broad confidence in U.S. competence. When other countries recognize the United States' strength, support its aims and believe U.S. officials know what they are doing, they are more likely to follow the United States' lead. If they doubt its power, its wisdom, or its ability to act effectively, U.S. global influence inevitably erodes. This reaction is entirely understandable: If the United States' leaders reveal themselves to be incompetent bunglers, why should foreign powers listen to their advice? Having a reputation for competence, in short, can be a critical force multiplier.

[Nov 22, 2020] 'The Real Looting in America Is the Walton Family'- GAO Report Details How Taxpayers Subsidize Cruel Low Wages of Corporate G

Nov 22, 2020 | www.nakedcapitalism.com

'The Real Looting in America Is the Walton Family': GAO Report Details How Taxpayers Subsidize Cruel Low Wages of Corporate Giants Posted on November 19, 2020 by Jerri-Lynn Scofield

By Jon Queally, staff writer, Common Dreams. Originally published at Common Dreams

Pinpointing a reality denounced as " morally obscene " by Sen. Bernie Sanders, a new government study shows how some of the nation's largest and most profitable corporations -- including Walmart, McDonald's, Dollar General, and Amazon -- feast upon taxpayer money by paying their employees such low wages that huge numbers of those workers throughout the year are forced to rely on public assistance programs such as Medicaid and food assistance just to keep themselves and their families afloat.

According to a statement from Sanders' office, the study he commissioned the Government Accountability Office to carry out -- titled " Millions of Full-time Workers Rely on Federal Health Care and Food Assistance Programs " -- found that an estimated 5.7 million Medicaid enrollees and 4.7 million SNAP (Supplemental Nutrition Assistance Program) recipients who worked full-time for 50 or more weeks in 2018 earned wages so low that they qualified for these federal benefits. In addition, an estimated 12 million wage-earning adults enrolled in Medicaid and 9 million wage-earning adults living in households receiving SNAP benefits worked at some point in 2018.

Upon the study's release Wednesday, Warren Gunnels, staff director and policy adviser for Sen. Sanders, tweeted: "The real looting in America is the Walton family becoming $63 billion richer during a pandemic, while paying wages so low that 14,541 of their workers in 9 states need food stamps -- all subsidized by U.S. taxpayers. Yes. The Walton family is the real welfare queen in America."

According to the Washington Post :, based on the GAO report:

Walmart was one of the top four employers of SNAP and Medicaid beneficiaries in every state. McDonald's was in the top five of employers with employees receiving federal benefits in at least nine states.

In the nine states that responded about SNAP benefits -- Arkansas, Georgia, Indiana, Maine, Massachusetts, Nebraska, North Carolina, Tennessee and Washington -- Walmart was found to have employed about 14,500 workers receiving the benefit, followed by McDonald's with 8,780, according to Sanders's team. In six states that reported Medicaid enrollees, Walmart again topped the list, with 10,350 employees, followed by McDonald's with 4,600.

In Georgia, for example, Walmart employed an estimated 3,959 workers on Medicaid -- an estimated 2.1 percent of the total of non-elderly, non-disabled people in the state receiving the benefit. McDonald's was next on the list, employing 1,480 who received Medicaid, or 0.8 percent of the total of non-elderly, non-disabled people on the program. "

"At a time when huge corporations like Walmart and McDonald's are making billions in profits and giving their CEOs tens of millions of dollars a year, they're relying on corporate welfare from the federal government by paying their workers starvation wages," said Sanders in a statement. "That is morally obscene."

With the individual wealth of high-ranking executives and members of billionaire families like the Walton's, who own Walmart, soaring even as front-line, minimum wage employees and their families struggling to stay afloat amid the devastating Covid-19 pandemic, Sanders argues that the stark contrast should be a wakeup call for those who have refused to see how unjust and economically backward it is for the federal government, meaning taxpayers, to subsidize the cruel wages that massive profitable companies force their workers to accept.

"U.S. taxpayers should not be forced to subsidize some of the largest and most profitable corporations in America," said Sanders. "It is time for the owners of Walmart, McDonald's and other large corporations to get off of welfare and pay their workers a living wage."

https://platform.twitter.com/embed/index.html?creatorScreenName=yvessmith&dnt=false&embedId=twitter-widget-0&frame=false&hideCard=false&hideThread=false&id=1329208075790807041&lang=en&origin=https%3A%2F%2Fwww.nakedcapitalism.com%2F2020%2F11%2Fthe-real-looting-in-america-is-the-walton-family-gao-report-details-how-taxpayers-subsidize-cruel-low-wages-of-corporate-giants.html&siteScreenName=yvessmith&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px

No one in this country should live in poverty," Sanders added. "No one should go hungry. No one should be unable to get the medical care they need. It is long past time to increase the federal minimum wage from a starvation wage of $7.25 an hour to $15, and guarantee health care to all Americans as a human right."


fwe'theewell , November 19, 2020 at 11:44 am

These looters at the top don't just rely on welfare for their workers: they also rely on government assistance in other ways, such as favorable tax treatment and other goodies to bring their boondoggles to town, and of course trillions in infusions/ giveaways like we saw this year. Not to mention golden parachutes in corporate bankruptcies, facilitated by the "way things are done."

AGKaiser , November 20, 2020 at 9:50 am

don't forget: Walmart and others also profit by the food stamps spent in their grocery and Medicaid in their pharmacy.

fwe'theewell , November 20, 2020 at 8:51 pm

Dang, yes!

nycTerrierist , November 19, 2020 at 12:40 pm

more galling, if that's possible, Alice Walton postures as a 'philanthropist'

artwashing ill-gotten gains as the benefactress of lavish vanity museum Crystal Bridges:

https://thebaffler.com/salvos/hoard-doeuvres

""There is no document of civilization which is not at the same time a document of barbarism," wrote Walter Benjamin. In precisely this vein, Walton's new Crystal Bridges museum offers American-made art to strategically cover up the ugly reality Walmart has created. Spanning the colonial era to the present, the exhibition space's fulsome celebration of the American spirit eulogizes the nation of shared confidence and abundance, sustainable mortgages, and worker dignity that Walmart has brutally demolished. The notion that Walton's supremely self-satisfied kunsthalle might serve as a balm, let alone a monument, to the market-battered American spirit is analogous to, say, Genghis Khan inviting survivors of his Mongol hordes to admire an installation of his plunder "

fwe'theewell , November 19, 2020 at 12:51 pm

This piece simply couldn't be written without a reference to Mongol hordes, of course.

Harry , November 19, 2020 at 4:59 pm

I suppose. Although no one relied on food stamps in the Great Khan Chingis' army.

Louis Fyne , November 19, 2020 at 1:30 pm

please don't forget Bezos even though he owns the WaPo

Same tactics. But I guess it's social acceptable to poo on the Waltons and Wal-Mart, but let us sweep Whole Foods and Amazon Prime under the rug

TimH , November 19, 2020 at 2:04 pm

Your 2nd para wins the straw man of the day award!

Louis Fyne , November 19, 2020 at 2:19 pm

As Amazon uses a network of subcontractors and contractors for everything for logistics to making toilet paper, all those employees will never show up on "official" stats re. Amazon.

it's called Lying with Statistics.
ymmv.

drumlin woodchuckles , November 19, 2020 at 3:31 pm

No, his second paragraph does not straw man. It merely invites us to widen the scope of our vision.

mileyvirus , November 20, 2020 at 12:56 pm

I agree, I did not interpret that as a straw man. Amazon is just as damnable as Walmart in terms of corporate welfare/employee wages

TimH , November 20, 2020 at 9:34 pm

I called it a straw man because " but let us sweep Whole Foods and Amazon Prime under the rug" suggested that the piece had done that, when they weren't mentioned.

Basil Pesto , November 20, 2020 at 11:20 pm

I believe that is what 'sweeping under the rug' entails.

(I get your point, and am actually
pretty sympathetic to it. couldn't resist the snark tho.)

Objective Ace , November 19, 2020 at 1:54 pm

An equally accurate storyline could be–"Workers in at least 9 states would be forced to live off even more government handouts without Walmart's employment".

Its tough to give companies grief here simply for paying what the market dictates. I'm all for going after the route of the problem–monopsony power–but noting the symptoms without actually raising awareness of the underlying problem is a distraction that keeps the plebs anger directed where it can't have much effect on the bigger picture. Being mad at Walmart instead of the government policy that has destroyed unions and made it easier/cheaper to move jobs overseas isn't serving middle America. Ironically, this distraction serves Walmart quite well. They actually champion hire minimum wages as it stifles competition

Its an interesting thought experiment to imagine absolutely no minimum wages but a UBI and universal healthcare so that no one needed a job just to survive. Then Walmart could pay its employees any low amount and no one would bat an eye (although I suspect wages actually wouldnt fall because walmart would lose its monopsony power)

fwe'theewell , November 19, 2020 at 2:23 pm

Government policy doesn't write itself: lobbyists guide the pen, and donors/ owners like Walmart pull the guides' puppet strings. "Personal responsibility" goes both ways.

To use yesterday's metaphor, I'd say that the PMC is like the human being co-driver in a "self"-driving car programmed by capital.

Objective Ace , November 19, 2020 at 3:40 pm

Definitely. And focusing on those issues (which are the actual issues) is better than focusing on the symptoms

drumlin woodchuckles , November 19, 2020 at 10:17 pm

Though if we can get people to admit they feel the symptoms by describing the symptoms, some of those people might then be ready and willing to hear about the disease which is giving them the symptoms.

fwe'theewell , November 20, 2020 at 8:52 pm

A good point

bulfinch , November 19, 2020 at 3:12 pm

Tempting as it might be to shape the narrative so that the Walmarts of the World appear more like hapless innovators, shrewdly capitalizing on a crooked playing field, it only works if you blinker yourself to the fact that the WotW have at least 8 of the ten fingers on the hands architecting those same playing fields.

Objective Ace , November 19, 2020 at 3:43 pm

Don't get me wrong–I'm not trying to say Walmart is hapless. Maybe I'm too cynical, but I actually think they're so shrewd they want you to focus on these press releases about how they pay so little. If the only thing that stems from that is increasing the minimum wage, they come out big time winners

drumlin woodchuckles , November 19, 2020 at 3:28 pm

Here's what the market dictates. " I can get 10 interns who will pay ME to LET them do your job. Now shut up and get back to work." The way to stop the Market Dictatorship of what wages will be is to impose a Legal Dictatorship on the market of what wages will be.

That's what the Wages and Hours Act was about to begin with. Make it a long-sentence hard-time felony to pay less or to take less. Abolish Free Trade in goods , services or people. That means Sealing the Borders to create zero immigration for as long as necessary to use the labor shortage to torture the employER class into raising wages and conditions upward. And to weld shut the "illegal immigration escape hatch" by which employERS ( including limousine liberals) pay less than the legally imposed minimum wage.

BlakeFelix , November 19, 2020 at 5:56 pm

Ya, I agree. Providing health care and making sure kids have food and education are subsidies that help businesses in a healthy way. And a UBI is a great idea as well! Toss in a Carbon tax, and you have my ideal policy.

Carolinian , November 19, 2020 at 11:12 pm

We've had this debate here for years so the above article is a bit of a recycled chestnut rather than an original thought.

And perhaps the answer for the "outrage" of those Walmart heirs is to reestablishment a meaningful inheritance tax since receiving billions through death is indeed an entitlement and not just for the Walmart heirs but also for plenty of mansion owners dotting the Northeast.

As for the company itself, yes it's a crappy and low paid place to work but they are hardly unique in that and one reason they top those mentioned lists, along with McDonalds, is that they are the number one and number two employers by number of employees in the country. And the reason they are so large is that they give their custormers what they want and can afford which cannot be said of so many competing looters that the author ignores.

There are lots of worse companies than Walmart but in the battle of the coastals versus the deplorables they have always made a fat juicy target for those who probably pay their hired help less than Walmart does its "associates."

Kirk Seidenbecker , November 19, 2020 at 2:34 pm

$15/Hr.? Thought it was more like $22/Hr. if minimum wage had kept pace with the rise in productivity.

https://www.cepr.net/documents/publications/min-wage1-2012-03.pdf

LC , November 19, 2020 at 9:28 pm

Right!?
I keep thinking about how at 15/hour people will lose what small piece of our social safety net that keeps them "making it". No family is purchasing health insurance on that increase. And really the few dollars per hour might not even make up the food benefits for a medium sized family. It's scary to get a raise where you end up worse off then before.
I mean I guess that's just the messed up reality when a whole bunch of household costs have been introduced or increased since policies using means testing (income and asset thresholds) to determine access. Actually I am sure ok not sure but it would make sense that these companies know exactly how much pay will kick these employees off benefits. So the employee community is less likely to make a fuss for small increases in pay which is the norm we have come to accept as workers. I'm all for real talk minimum/ living wages for the communities people actually live in.

Carla , November 20, 2020 at 6:38 am

That's why expanded, improved Medicare for All has to be implemented ALONG WITH the $15 (or $22) minimum wage.

Chauncey Gardiner , November 19, 2020 at 2:42 pm

"Corporate welfare queens" As others have noted, it isn't just Walmart and the Waltons. Trying to think of an appropriate term to describe the outcome of the decision by a majority of the US Supreme Court justices in the Citizens United case that not only enabled but tacitly encouraged One Percent, corporate, Wall Street, executive branch, legislators' and central bank behavior that, although still a cycle, has led to the opposite of a "virtuous cycle". "Morally obscene", corrupt and corruptible, and dishonorable are some descriptions of resultant behavior that come to mind. Too bad "The Swamp" wasn't drained, but has been further expanded and left both legacy political parties tarnished. It is said that a fish rots from the head down. That may be so, but that doesn't mean the rot cannot be allowed to set in. Follow the Money.

drumlin woodchuckles , November 19, 2020 at 3:21 pm

It turns out that when the TrumpAdmin used the phrase " the Swamp", what they strictly specifically and only meant were the impartial scientists at the various departments , bureaus and agencies. And they have done all they could to drain out the impartial scientists and stop the science. Which is all they ever meant by "drain the Swamp".

howseth , November 19, 2020 at 6:10 pm

Citizens United decision was a display of right wing insanity in all it's glory: I suppose insanity was either baked into the Constitution – or in 1780 – was not yet insanity?
Still can't get over that decision – ever since, my thought: term limits for friggen federal judges – and certainly the SCOTUS crew and throw in Congress and the Senate as well.

drumlin woodchuckles , November 19, 2020 at 10:21 pm

We have term limits for state officeholders in Michigan. All that mostly gets us is cynical amateurs who view their limited term as a chance to make contacts and audition for lobbying/law/etc. jobs after leaving office.

And the non-cynical amateurs who want to make things better are term-limited out of office just when they are finally learning where all the hidden levers, ropes, pulleys, secret trap doors are. Meanwhile, the lobbyists are not term limited.

Term limits for national office would make some things worse while making nothing better.

howseth , November 20, 2020 at 12:39 am

Ah, those immortal lobbyists! Term limits for politicians – combined with limits on lobbyists. One can dream. No? I'd like to try it. How can we actually drain the Swamp/
Oh. Crap. We have a Supreme Court. Freedom to Lobby infinitely. Freedom of bribery – I mean freedom of speech.
OK, So nothing can be done. Perhaps state office holders are a different thing then National politicians? (Yeah, maybe not) But Do you want to remove the term limits on our President then? No? I'd keep that limit.
Should we just resign ourselves to be stuck with this stuff till the Sun expands and swallows the USA? The future colony on Mars will have a better way? Not likely.

Carla , November 20, 2020 at 7:18 am

We have term limits. They're called elections. If/when there's something wrong with Democracy, fix Democracy. If/when there's something wrong with the Constitution, fix the Constitution

In most cases, artificial term limits don't do either. I would say there are two exceptions: limiting the presidency to two terms, and limiting the tenure of federal judges. In the latter case, 18-year term limits have been suggested, and that could be the right number, I'm not sure.

Now, with respect to fixing Democracy and the Constitution, for a First Step, please see HJR-48: Proposing an amendment to the Constitution of the United States providing that the rights extended by the Constitution are the rights of natural persons only -- oh, by the way, stating that money does not equal speech.

https://www.congress.gov/bill/116th-congress/house-joint-resolution/48/text

drumlin woodchuckles , November 19, 2020 at 3:18 pm

Every looting is real looting. Little looters in the streets are real looters. Big looters in the suites are real looters.

Since the big looting is currently legal in many cases, laws would have to be changed to stop the big looters looting. Its worth trying to do. It won't happen with Joemala and McConnell conspiring together to stop it from happening.

We need to elect a Red Gingrich minority of officeholders into the House and into the Senate. The "squad" could be the nucleus of that if they decide to center economic justice instead of critical race wokeness.

Burn down the House. And the Senate too.

Carla , November 20, 2020 at 7:19 am

"Joemala" -- Love it!

Watt4Bob , November 19, 2020 at 4:00 pm

If China didn't have the Waltons, they would have found another family glad to help them destroy our small retailers.

Our government gave tax breaks to corporations moving manufacturing to China, and to Walmart, and others peddling what used to be made here.

And now, to add insult to injury, they're telling you to " Learn to code" because the problem is, you don't have any employable skills.

polecat , November 19, 2020 at 6:26 pm

Congrease had/has the legal power to enact legislation with which to reign in what has become the early 21st century gilded age .. but they refuse to .. Nearly ALL of them have their dirty proboscii harpooning the lowly constituents who elected them ..too busy sucking any and all of plebian bodilyeconomic liquidity whilst paying deference to the know-it-all, BigTime-parasitic Oligarchic Brainbugs!

drumlin woodchuckles , November 19, 2020 at 10:23 pm

Abolish Free Trade and we could dry up the tidal wave of cheapest things which floats Walmart's boat to wealth and power.

sharonsj , November 20, 2020 at 12:57 pm

Not gonna happen. Apparently Biden will likely sign the TPP.

drumlin woodchuckles , November 21, 2020 at 2:24 am

If Biden does that, then Trump himself could very well win again if he runs in 2024. If that scenario plays out that way, I hope Trump picks Ivanka to be his VP running mate. That way, Ivanka would be on track to be America's first woman president. I just hope Hillary would live long enough to see that happen.

PeasantParty , November 19, 2020 at 4:38 pm

I used to dread the Friday news drops. The unemployment numbers, employed people in minimum wage jobs, workers at home working away, and major inflation in the grocery stores are hitting people extremely hard coming up to Holiday season. I really can't wait to see the Friday news drops now. Not just the Trump temper tantrum stuff, but the economic quips they make. Then what is totally mind blowing are the comments on social media. Some people that are not hurting much, or at all seem to think that all things are fine as wine in the rest of the country. I know this reply does not specifically comment on your article, but it is a wide view of the current situation.

Shiloh1 , November 19, 2020 at 6:19 pm

Walmart and Bezos are the symptoms of two generations of Congressional criminality.

Exhibit A: "I say to the Walton Family..,"

cynical observer , November 19, 2020 at 10:41 pm

With the computers and big data, the simplest solution is to claw back the benefits paid to the employees from the corporations, call it humanitarian tax.

But, it would be hard to find a lobbyist to write it, even harder to find a sponsor in the congress.

edmondo , November 19, 2020 at 11:30 pm

That would destroy the ability of these people to get jobs and to receive benefits.

I think you might have the cause and effect mixed up. In my state, anyone who gets SNAP benefits has to work at least 20 hours a week. These "bad" employers are the ones with flexible schedules and because the jobs are so crappy, they are readily available. Maybe it's not that WalMartb workers need benefits, it's that the benefits recipient needs WalMart and McDonalds.

sharonsj , November 20, 2020 at 1:00 pm

Every state is different. I just have to show proof of income (which I have, though I don't have a job). But the amount of SNAP you get varies widely. I am 150% of poverty level and the state of Pennsylvania just raised my monthly benefit to $16.50.

Ook , November 19, 2020 at 10:45 pm

Another way to put it: Walmart, McDonald's, Dollar General, and Amazon are really government stores with outsourced management and labor.
Socialism American-style.

drumlin woodchuckles , November 21, 2020 at 2:25 am

Life in the CSSA. ( Corporate Soviet States of America).

sharonsj , November 20, 2020 at 1:05 pm

Whenever I am in Walmart or any supermarket with automatic check out, I avoid automatic check out completely and only go to regular check out, no matter how long the line is. Automatic check out is a precursor to eventually firing all human cashiers. In my "larger" town, where I often end up in Walmart for the cheaper pet food, an Aldi's was built precisely opposite it, across the road. I heard an Aldi's employee saying they get paid better than Walmart. And lots of their prices are the same or better. So I will be spending a lot more time there.

Elaine Williams , November 21, 2020 at 10:37 am

This is not new news. We are too used to Walmart's superlow prices to do anything about it. This will continue long after I'm gone.

[Nov 16, 2020] Four More Years Of by Andrew Joyce

Highly recommended!
There are two different things here. Trump betrayal of his voters is one thing, but election fraud is another and is unacceptable no matter what is your opinion about Trump. We should not mix those two topics.
Notable quotes:
"... Anarchy and Christianity ..."
"... Le meutre d'un enfant ..."
"... homo economicus ..."
"... Washington Post ..."
Nov 16, 2020 | www.unz.com
ANDREW JOYCE NOVEMBER 14, 2020 3,100 WORDS 77 COMMENTS REPLY Tweet Reddit Share Share Email Print More RSS

All our political forms are exhausted and practically nonexistent. Our parliamentary system and electoral system and our political parties are just as futile as dictatorships are intolerable. Nothing is left. And this nothing is increasingly aggressive, totalitarian and omnipresent.
Jacques Ellul, Anarchy and Christianity (1991)

Look at them! Look at them, will you? Behold our politicians' horrible languid maws!; the courtier-like faces of department managers. They are indeed salesmen, for the very power of nations is measure in relation to their own mercantile activity.
Jean Cau, Le meutre d'un enfant (1965)

"What's going to happen now?" I was asked earlier today. "Nothing and everything," I replied. Immigration, largely unchallenged and unscathed (excepting the incidental impact of COVID-19 on population movement) from four years of Trumpism, will now continue to accelerate unabated . Zionism will continue to enjoy the expansion of American institutional and military support, this time with the blood interest of Jared Kushner replaced with the Jewish spouses of all three of Biden's children. And the momentary Obama-era delusion of a post-racial America will continue to dissolve in the reality of the increasing awareness and importance of race throughout the West, not solely as a result of mass migration but also of the increasing ubiquity of the ideologies of racial grievance and revenge. There will, of course, be a dramatic change for the worse in tone and spirit, and some smaller legislative victories like the banning of federal anti-racism training will likely soon be reversed. The defeat of Donald Trump is also hugely demoralizing to many decent American people, and emboldening to their bitterest enemies. This is to be sorely regretted. But it is in the shared qualities of Trump and Biden, rather than the election and sham ballots, that the real nature of our political systems and their future can be perceived. And it is in these shared qualities that our true problems lie.

Parliamentary electoral democracy is merely a representation of the general system in which it operates. Slavoj Zizek comments:

At the empirical level, of course, multi-party liberal democracy "represents" -- mirrors, registers, measures -- the quantitative dispersal of different opinions of the people, what they think about the proposed programs of the parties and about their candidates, etc. However, prior to this empirical level and in a much more radical sense, the very form of multi-party liberal democracy "represents" -- instantiates -- a certain vision of society, politics, and the role of the individuals in it: politics is organized in parties that compete through elections to exert control over the state legislative and executive apparatus, etc. One should always be aware that this frame is never neutral, insofar as it privileges certain values and practices.

The truth of the system, in terms of its non-negotiable aspects, is thus revealed in the "values and practices" privileged and ring-fenced under both Trump and Biden. What are these non-negotiables? Zionism, GloboHomo ideological capitalism and its "woke" leftist correlates, and the neoliberal promotion of GDP as the benchmark of human success and happiness.

Zionism

Jews have little to fear from a Biden presidency, which is presumably why Haaretz is claiming that the "American Jewish vote clinched Biden's victory and Trump's ouster. American Jews decided the outcome of the U.S. elections." Donald Trump might have been hailed as the "most pro-Israel President in U.S. history," but Jews are notoriously unreliable in their partnerships with non-Jewish elites. Fate, it must be said, has not been kind to those gentile elites that have exhausted their usefulness to Jews. And Trump is surely exhausted, having spent a busy four years fighting for Jews in Israel and in the United States. He reversed long-standing US policies on several critical security, diplomatic and political issues to Israel's favour, including the Iran nuclear accord, the treatment of Israel at the UN, and the status of Jerusalem and the Golan Heights. In December 2019, he announced his Executive Order on Combatting Anti-Semitism , promising to fight "the rise of anti-Semitism and anti-Semitic incidents in the United States and around the world." One wonders what else he could possibly have done for these people -- apart from a war with Iran -- a question that appears to have been answered by Jews with a resounding "Nothing." One can only imagine Trump's facial expression on seeing Benjamin Netanyahu's emphatic congratulations to Joe Biden, punctuated with the loving refrain: "I have a personal, long and warm connection with Joe Biden for nearly 40 years, and I know him to be a great friend of the State of Israel."

Biden and Harris, replete with their immediate familial ties to Jews, are viewed in Zionist circles as being at least as reliable as Trump, although not as exuberant and bullish. Biden has been known as a staunch supporter of Israel throughout his 36 years in the Senate, often cites his 1973 encounter with then-Prime Minister Golda Meir as "one of the most consequential meetings" of his life, and has on more than one occasion regaled audiences with a tale about his father telling him that "You don't need to be a Jew to be a Zionist." While some modifications are likely in the American approach to Iran, few reversals are expected on Trump's four years of pro-Israel activism. Biden, for example, has weakly criticized moving the embassy to Jerusalem but said he would not pull it back to Tel Aviv. Michael Herzog at Haaretz describes both Biden and Harris as "traditional Democrats, with a fundamental commitment to Israel whose roots are in part emotional in nature (in contrast to Obama)."

The change in relationship between America and Israel will be, in meaningful terms, restricted to the personal. Netanyahu, for all his fawning, is likely to undergo a personal demotion of sorts, with David Halbfinger of the New York Times pointing out that we can expect a Biden presidency to diminish Netanyahu's "stature on the global stage and undercut his argument to restive Israeli voters that he remains their indispensable leader." Palestinian leaders, probably the best-positioned to offer a perspective on the potential for an improvement in their condition under the new presidency, have been sombre to say the least. Hanan Ashrawi, a senior PLO official, responded to the question if she expected United States policy to continue tilting heavily in Israel's favor: "I don't think we're so naïve as to see Biden as our savior." Contrast this with the cheerfulness and confidence of Israel settlers who have grown accustomed to the perennial nature of American support for Zionism. David Elhayani, head of the Yesha Council, an umbrella for Jewish settlements in the West Bank, said the party of the U.S. president ultimately doesn't matter so long as the baseline commitment to support Israel persists: "Under Obama, we built more [settlement] houses than we have under Trump I think Biden is a friend of Israel."

The fact that the grassroots of the Democratic Party are drifting away from Zionism is no more consequential than the fact the grassroots of the Republican Party wanted major action on immigration reform. The former, like the latter, have been equally ignored by the real power brokers and influencers. Regardless of the radical appearance of Democrat-affiliated movements like Black Lives Matter, the fact remains that all of the leftist aggression and rhetoric of the summer of 2020 has resulted in the putative election of an establishment Zionist and political pragmatist who is sure to execute a more or less formulaic neoliberal scheme for government. In one sense, the bland, forgetful, and familiar Biden, who lacks any hint of genuine or novel ideology and was elected purely as a symbol of "not Trump," is the fitting response to Trump, who was equally devoid of ideological sincerity or complexity beyond the symbolism of "not Establishment." And so, while the media proclaims, as Heraclitus, that "all is in flux," from a different perspective we could argue, like Parmenides, the opposite -- "there is no motion at all."

GloboHomo

If I retain one abiding, surreal, memory of the Trump presidency in the years ahead it will be the Don dancing to the Village People in the wake of his numerous drives to legalize homosexuality in various African backwaters. That the Red State Christians comprising so much of his base could maintain their self-adopted blind spot on this issue is a remarkable testament to the power of personality, because no world leader in history has done more in recent history than Donald Trump to export what E. Michael Jones has so aptly termed "the Gay Disco" -- the double-barrelled shotgun of unbridled finance capitalism and the superficial freedom of sexual "liberty." As the pastors and preachers of South Carolina and Texas urged their huddled congregations to pray for the President, Trump was busy dispatching new missionaries, like U.S. Ambassador to Germany Richard Grenell, to the corners of the earth in search of converts to the Church of GloboHomo.

In February 2019, the U.S. embassy indulged in some nostalgia for Weimar when it flew LGBT activists from across Europe to Berlin for a strategy dinner to plan to push for decriminalization in places that still outlaw homosexuality -- mostly concentrated in the Middle East, Africa and the Caribbean. For my part, I can think of many social problems in these parts of the world, but it really takes a special kind of mind to arrive at the opinion that one of the most pressing is that they need to become more gay. Grenell, however, horrified that Iran has the audacity to execute its own convicted homosexual pederasts, was not to be deterred, and was instrumental in the blackmail of lesser nations, promising they would be denied access to terrorism intelligence if they don't legalise homosexuality. All of which has left the far corners of the American cultural-military empire questioning whether they could better live with suicide bombers or sodomy.

Against such manoeuvres, Biden's apparent claim to be one half of the "most pro-equality ticket in history" seems a little overstated. That being said, there's no question that Biden is going to step up the domestic nature of GloboHomo significantly as soon as he assumes office. Biden has pledged to sign the Equality Act, thus far opposed by the Trump administration, within his first 100 days in office, a piece of legislation that will amend "the Civil Rights Act to prohibit discrimination on the basis of sexual orientation and gender identity in employment, housing, public accommodations, public education, federal funding, credit, and the jury system." Biden has pledged to appoint significant numbers of homosexuals and transsexuals to positions of influence, and has promised to allow transsexuals to join the military. Experienced in advancing global LGBT+ dogma as part of the Obama-Biden administration, Biden will also once again take up the global mantle, expressing his "hopes to reverse Trump's efforts and expand queer rights internationally by making equality a centrepiece of US diplomacy," and condemning Poland's "LGBT-free zones." Stunning and brave indeed.

There is a certain sense in the cases of both Trump and Biden that, for all the flamboyance of their efforts in this area, there is a performative aspect to this politics. I don't get the impression that either has been especially personally committed to these ideas or actions, but that, as pragmatic-symbolic politicians, they have been made aware that this is the direction the broader System is moving in and they should comply and support it. The longevity and gradual acceleration of these trends, beginning in earnest with the presidency of Bill Clinton, would suggest a systemic movement underlying, and entirely untethered to, specific political parties or figures. Throughout the West, and much as with Zionism, GloboHomo, or hedonistic credit-based capitalism and its sexual correlates more generally, is to be accepted and promoted as an essential part of the role of neoliberal government. In the context of declining basic freedoms at home, for example the obvious decline in free speech and the creeping criminalisation of meaningful dissent against the status quo, the international promotion of homosexuality and transsexual identities offers a cost-free and PR-friendly method for increasingly authoritarian neoliberal regimes to posture as crusaders for freedom. The trucker in Ohio is, logical flaws notwithstanding, and whether he wants it or not, thus assured of his place in the Land of the Free via his government's emancipation of the gays and transvestites of Uganda. Engaged politically only at the most superficial level, the masses play along with this ruse, often in blunt denial, possessing only fragmentary realisations of the fact their countries are changing around them while the petty "rewards" of Americanism are meagre and peculiar, if not insulting.

GDP!

Along with frequent reassurances that he was "giving serious consideration" to doing something, Trump's presidency was marked by regular updates on the performance of American GDP. Unfortunately the GDP, like the Jewish vote, appears to have stabbed him in the back, with around 70% of American GDP represented in counties that (putatively!) voted Democrat. Trump's tragicomic belief in GDP performance as a form of politics in its own right is perhaps the quintessential example of the mentality of homo economicus and the tendency of neoliberals to view countries as mere zones, or economic areas, where everything is based on rationalism and materialism, and national success is purely a calculation of economic self-interest. Writing pessimistically of Trump's expected nomination in 2015 , I issued a stark warning about the influence of Jared Kushner, but also added:

For all his bluster, Trump is a creation and product of the bourgeois revolution and its materialistic liberal ideologies. We are teased and tantalized by the fantasy that Trump is a potential "man of the people." But I cannot escape the impression that he is a utilitarian and primarily economic character, who seeks a social contract based on personal convenience and material interest. In his business and political history I see only the "distilled Jewish spirit."

I don't think I've seen anything over the last four years that has made me question or revise that assessment. Trump's dedicated tweeting on GDP in fact had the opposite effect.

The disturbing reality, of course, is that GDP is only one side of a national economy. Another crucial aspect is government borrowing, and current projections suggest that the United States is " condemned to eternal debt ." According to The Budget Office of the United States Congress (CBO), "the US economy would enter the first half of this century with a public debt equivalent to 195 percent of its GDP. In the next 30 years the debt of the most powerful economy on the planet would more than double." The first significant jump occurred in the wake of the subprime crisis, in which Jewish mortgage lenders were especially prominent. The subprime crisis forced public debt to 37 percent of GDP, which then rose steadily to 79 percent between 2008 and the outbreak of COVID-19. It now stands at 98 percent, and is accelerating. Although the United States has reached comparable levels of debt in the past, there has almost always been an accompanying war, or wars, which acted as a financial pressure valve -- a fact that does not bode well for isolationists but may be encouraging news for Zionist hawks.

Joe Biden has claimed recently that "a Biden-Harris Administration will not be measured just by the stock market or GDP growth, but by the extent to which growth is raising the pay, dignity, and economic security of our working families" -- while at the same time welcoming millions of new immigrants and legalizing the ~20M+ illegals into the workforce .The American economy is in fact extremely unlikely to change direction, with Biden reassuring his billionaire donors gathered at the Carlyle Hotel in Manhattan in June 2019 that "no one's standard of living will change, nothing would fundamentally change." I believe him. Biden was part of an administration that looked on as 10 million working Americans lost their homes. Matt Stoller at the Washington Post has described Obama-era Democrat economic policies as "in effect, a wholesale attack on the American home (the main store of middle-class wealth) in favor of concentrated financial power." Biden was part of a team that outright rejected prosecuting major bankers for fraud and money laundering, and that represented one of the most monopoly-friendly administrations in history:

2015 saw a record wave of mergers and acquisitions, and 2016 was another busy year. In nearly every sector of the economy, from pharmaceuticals to telecom to Internet platforms to airlines, power was concentrated. And this administration, like George W. Bush's before it, did not prosecute a single significant monopoly under Section 2 of the Sherman Act. Instead [under Obama] the Federal Trade Commission has gone after such villains as music teachers and ice skating instructors for ostensible anti-competitive behavior. This is very much a parallel of the financial crisis, as elites operate without legal constraints while the rest of us toil under an excess of bureaucracy.

Biden is the product of funding from forty-four billionaires , including six hedge fund speculators, seven real estate barons, and five in the tech sector. Of the top 22 donors, at least 18 are Jews (Jim Simons, Len Blavatnik, Stewart Resnick, Eli Broad, Neil Bluhm, David Bonderman, Herb Simon, Daniel Och, Liz Lefkovsky, Steve Mandel, Bruce Karsh, Howard Marks, S. Daniel Abraham, Marc Lasry, Jonathan Tisch, Daniel Lubetsky, Laurie Tisch, and Robert Toll). The Jewish consortium behind Biden is almost identical in its financial composition to that behind Trump which, as I've explained previously , was notable for its embodiment of "usury and vulture capitalism, bloated consumerism, and the sordid commercial exploitation of vice." Biden's transition team , meanwhile, is comprised of "executives from Lyft, Airbnb, Amazon, Capital One, Booz Allen, Uber, Visa, and JPMorgan." In short, expectations that Biden is going to break up Big Tech, or any monopoly for that matter, are the fantasies of the deluded, the ignorant, and the duped.

Conclusion

While the drama and recrimination surrounding the election are unquestionably fascinating, I hope you'll forgive for being less agitated than most. My reasons for lethargy are simple: I knew that regardless of outcome we'd get four more years -- four more years of Zionism, GloboHomo, and the standardized, rationalized machinery of economic escalation that now provides the apologetic engine for mass migration. Behind the abortion debates, Supreme Court picks, culture wars, and media theater, these are the non-negotiables of the System. You don't hear about them, and you can't talk about them, because you can't vote on them. And this is the biggest electoral fraud of all.


Jack McArthur , says: November 14, 2020 at 7:37 pm GMT • 1.9 days ago

I feel particular sorrow for ordinary decent Americans, in what today should be the land of plenty for all, who are having to witness this horrible implosion of their country and values. Other than divine intervention there is no hope. The media, money markets and political classes are either directly run by the same children of a devil or by loathsome gentiles who have taken the Judas coin or who are cowards in fear of their miserable life's.

What is life if it means cowering down in the face of evil? An ancient voice trying to tell this strange world that you are controlled by an evil power and that your eternal fate is determined by how you respond to it i.e. join the freak show or stand up like a true man or woman and tell them no.

The writer of this essay is a man of culture, with wide interests. There are not many left. Compare him to the moronic voices of today with their narrow perverted interests and weep for what faces you.

Craig Nelsen , says: November 14, 2020 at 9:30 pm GMT • 1.8 days ago

I feel particular sorrow for ordinary decent Americans, in what today should be the land of plenty for all, who are having to witness this horrible implosion of their country and values. Other than divine intervention there is no hope. The media, money markets and political classes are either directly run by the same children of a devil or by loathsome gentiles who have taken the Judas coin or who are cowards in fear of their miserable life's.

Particular particular sorrow for the young. As for divine intervention, we used to have a saying about God helping those who help themselves. Surely there must be some action we can take.

https://jailsoros.com/

Realist , says: November 15, 2020 at 3:30 pm GMT • 1.1 days ago

While the drama and recrimination surrounding the election are unquestionably fascinating, I hope you'll forgive for being less agitated than most. My reasons for lethargy are simple: I knew that regardless of outcome we'd get four more years -- four more years of Zionism, GloboHomo, and the standardized, rationalized machinery of economic escalation that now provides the apologetic engine for mass migration. Behind the abortion debates, Supreme Court picks, culture wars, and media theater, these are the non-negotiables of the System. You don't hear about them, and you can't talk about them, because you can't vote on them. And this is the biggest electoral fraud of all.

Exactly correct. As early as mid April 2017 I could see that Trump had no intention of keeping his promises to middle Americans I wrote a comment to this blog saying as much.

Trump is a minion of the Deep State.

The Deep State doesn't care about the unimportant internecine squabbles of the two parties as long as their important issues are advanced (wealth and power). As a matter of fact it strengthens the false perception that there is a choice when voting.

Trump and the Deep State do not care what the American people want. They know that most American people are inane fools and will believe anything. Most Americans would rather watch America's Got Talent, Dancing With The Stars or The Masked Singer than be informed about important issues.

AReply , says: November 16, 2020 at 6:05 am GMT • 11.1 hours ago

The only discernible values espoused in this rambling crypfic article is dog-whistling to bigots of yore.

There is no study of history, no analysis, no insight and no meaning beyond blathers about jews and homos.

The tone is hatred and despair with the judgement that others are to blame and there is nothing to work towards.

The Zizek quote offered a word-salad refrain that everybody comes to power under some bias, to themselves, if nothing else. But Zizek's actual point has be de-contextualized. Here is what Zizek was saying:

Biden is Just Trump With a Human Face
https://www.google.com/amp/s/www.rt.com/op-ed/504705-slavoj-zizek-biden-trump/amp/

//Let's remember that [Hannah] Arendt said this in her polemic against Mao, who himself believed that "power grows out of the barrel of a gun" – Arendt qualifies this like an "entirely non-Marxist" conviction and claims that, for Marx, violent outbursts are like "the labor pangs that precede, but of course do not cause, the event of organic birth." Basically, I agree with her, but I would add that there never will be a fully peaceful "democratic" transfer of power without the "birth pangs" of violence: there will always be moments of tension when the rules of democratic dialogue and changes are suspended.

Today, however, the agent of this tension is the Right, which is why, paradoxically, the task of the Left is now, as the US politician Alexandria Ocasio-Cortez has pointed out, to save our "bourgeois" democracy when the liberal center is too weak and indecisive to do it. Is this in contradiction with the fact that the Left today should move beyond parliamentary democracy?

No: as Trump demonstrates, the contradiction is in this democratic form itself, so that the only way to save what is worth saving in liberal democracy is to move beyond it – and vice versa, when rightist violence is on the rise, the only way to move beyond liberal democracy is to be more faithful to it than the liberal democrats themselves. This is what the successful democratic return to power of the Morales's party in Bolivia, one of the few bright spots in our devastated landscape, clearly signals.//

In other words we must be conservatives who are willing to progress!

And hey, crypto-fascists: Zizek is not on board with you just because RT runs him on their version of Fox News.

A New Kind of Communism

https://www.youtube.com/embed/QARALafdWUI?feature=oembed

The world is never going back to the old-timey dayz of white settlement of an eden America. So move forward or croak of old age or both.

As to the idea that "decent Americans" are in any way demoralized by Trump's loss:
BULLSHIT!

If you are demoralized by Trump's loss, you have been ejected from decency. But Luckily for you, it so happens USA is a happy-enough home for all stripes of perverts.

Meimou , says: November 16, 2020 at 6:10 am GMT • 11.0 hours ago
@Verymuchalive the Occidental Observer writers in prison, you have zero reason to think Trump won't crack down on free speech in 2020.

Another 4 years of Trumpstien means a very large % of the right will continue to sleep, something Biden could not get us to do. Biden could never get the right to support vaccines or martial law.

No Trump apologist besides Alex Jonestien gives an excuse why Trump is backing a unsafe, hastily made vaccine for a disease with a 99% survival rate. No Trump cultist will provide a credible one. (Wally will not be the first)

Consider.

GreatSocialist , says: November 16, 2020 at 6:22 am GMT • 10.8 hours ago
@Realist rs.

And what happened? She was raped and kicked in the butt by him. He always does that to everybody. He did it to his dad, he did it to his brothers and sister, he did it to his family ..and now he has raped America.

Trump's only ability is to find out what others fear or desire, then overpromise on everything and deliver nothing or even the opposite after u have given him your support or money. That's how he operates in business, and that's how he has conducted his fake presidency.

I am surprised that so many seemingly intelligent people have been taken in by this well-known conman.

Clay Alexander , says: November 16, 2020 at 6:44 am GMT • 10.4 hours ago

Great article. What I find strange is a businessman from New York second only to Israel in population of Jews could be so easily duped by them. Loyal only to themselves. In the words of Harry Truman "Jesus couldn't do anything with them, what am I suppose to do with them?".

geokat62 , says: November 16, 2020 at 8:26 am GMT • 8.7 hours ago

I think it needs to be emphasised that the "homo" in globohomo stands for "homogeneity" and not "homosexuality":

Globohomo

(adj) A word used to describe a globalized and homogenized culture pushed for by large companies, politicians, and Neocon/Leftist pawns. This culture includes metropolitan ideals such as diversity, homosexuality, sexual degeneracy, colorblindness in regard to race, egalitarianism, money worship, and the erasure of different individual cultures, among other things.

https://www.urbandictionary.com/define.php?term=Globohomo

Miro23 , says: November 16, 2020 at 10:28 am GMT • 6.7 hours ago

My reasons for lethargy are simple: I knew that regardless of outcome we'd get four more years -- four more years of Zionism, GloboHomo, and the standardized, rationalized machinery of economic escalation that now provides the apologetic engine for mass migration. Behind the abortion debates, Supreme Court picks, culture wars, and media theater, these are the non-negotiables of the System. You don't hear about them, and you can't talk about them, because you can't vote on them.

This may be great for The US' Jewish plutocracy, but the United States is still in economic competition with countries that don't give 2 cents for ZioGlob world (for example China – which has just signed the RCEP – Regional Comprehensive Economic Partnership, covering 15 Asian countries, after 8 years of negotiation and covering 2.2 billion people).

So the rest of the world looks on with interest, same as it did in 1923, when the German Weimar Republic collapsed in an orgy of sleaze, corruption, debt and worthless money.

sethg , says: November 16, 2020 at 10:38 am GMT • 6.5 hours ago

990. Jews are the scapegoats for all the deficiencies of low-IQ whites just as whites are the scapegoats for all the deficiencies of low-IQ non-whites. Let me explain how that works.

Why do we observe Jews at the forefront of many cutting-edge industries? (for example the media/arts and financial industries are indeed rife with them). The low-IQ answer is, of course, a simplistic conspiracy theory: Jews form an evil cabal that created all these industries from scratch to "destroy culture" (or at least what low-IQ people think is culture, i.e. some previous, obsolete state of culture, i.e. older, lower culture, i.e. non-culture). And, to be sure, there is a lot of decadence in these industries. But, in an advanced civilization, there is a lot of decadence everywhere anyway! It's an essential prerequisite even! So it makes perfect sense that the most capable people in such a civilization will also be the most decadent! The stereotype of the degenerate cocaine-sniffing whoremonging or homosexual Hollywood or Wall Street operative belongs here. Well, buddy, if YOU were subjected to the stresses and temptations of the Hollywood or Wall Street lifestyles, maybe you'd be a "degenerate" too! But you lack the IQ for that, so of course you'll reduce the whole enterprise to a simplistic resentful fairy tale that seems laughable even to children: a bunch of old bearded Jews gathered round a large table planning the destruction of civilization! Well I say enough with this childish nonsense! The Jews are simply some of the smartest and most industrious people around, ergo it makes sense that they'll be encountered at or near all the peaks of the dominant culture, being overrepresented everywhere in it, including therefore in its failings and excesses! This is what it means to be the best! It doesn't mean that you are faultless little angels who can do no wrong, you brainless corn-fed nitwits! There's a moving passage somewhere in Nietzsche where he relates that Europe owes the Jews for the highest sage (Spinoza), and the highest saint (Jesus), and he'd never even heard of Freud or Einstein! In view of all the immeasurable gifts the Jewish spirit has lavished on humanity, anti-semitism in the coming world order will be a capital offense, if I have anything to say on the matter. The slightest word against the Jews, and you're a marked man: I would have not only you, but your entire extended family wiped out, just to be sure. You think you know what the Devil is, but he's just the lackey taking my orders. Entire cities razed to the ground (including the entire Middle East), simply because one person there said something bad about "the Jews", that's how I would have the future! Enough with this stupid meme! To hell with all of you brainless subhumans! You've wasted enough of our nervous energy on this stupid shit! And the same goes to low-IQ non-whites who blame all their troubles on whites! And it's all true: Jews and whites upped the stakes for everybody by bringing into the world a whole torrent of new possibilities which your IQ is too low to handle! So whatcha gonna do about it? Are you all bark, or are you prepared to bite? Come on, let's see what you can do! Any of you fucking pricks bark, and we'll execute every motherfucking last one of you!

From http://orgyofthewill.net

Zarathustra , says: November 16, 2020 at 10:44 am GMT • 6.4 hours ago

Blah, blah, blah. Cat circling the hot plate. Trump was galacticly stupid. He should have told the Jews that I will give you Jerusalem and Golan heights in my second term. He would have a second term.
The only point is here is this:
Jews see Iran as a mortal threat. Jews want Iran to be destroyed. For Biden the first point on the agenda is destruction of Iran. Biden did promise Jews that he will destroy Iran.
That is why Biden did win.
Trump hesitated with his promise to destroy Iran that is why he lost.
So here is the conclusion question:
Was Biden serious when he promised to Jews destroy Iran, or he was only making fools from them Jews.
That is the only outstanding question

The Spirit of Enoch Powell , says: November 16, 2020 at 4:11 pm GMT • 58 minutes ago
@Trinity

From my understanding, the term "Globohomo" was originally meant as a shorthand for "globalised homogenisation", wherein all national cultures would be eliminated in favour of a universal culture, promotion of homosexuality is just one of the components of GloboHomo, with things like rampant consumerism, substance use and liberalism being some of the other things.

If you go to the newly built sections of Europeans cities, you will notice how they are all the same (homogenous) with the same American fast food outlets and the same architectural style.

[Nov 09, 2020] Gridlock Biden May or May Not Win, but Trump Remains 'President' of Red America -- Strategic Culture

Notable quotes:
"... No matter what the final result, there will be substantial doubts about its legitimacy by one side or the other, perhaps both. And no deranged conspiracy thinking is required for that. An electoral system suffused with this much chaos, error, protracted outcomes and seemingly inexplicable reversals will sow doubt and distrust even among the most rational citizens. ..."
"... Divided We Fall: America's Secession Threat and How to Restore Our Nation ..."
"... The Great Reset ..."
"... "This is in fact the dual story of Rome in the last century of the Republic, and it tracks very well -- with the transformation going on today [in the U.S.] -- and it is a transformation The society which emerged at the end of the Roman Revolution, and civil war had too, a totally dominant élite class. ..."
"... "This was a new world, in which the great landowners, with their latifundia [the slave-land source of wealth], who had been the 'Big Men' leading the various factions in the civil wars, became the senatorial archons that dominated Roman life for the next five centuries -- while the People, the Populares, were ground into a passive -- not helpless -- but generally dependent and non-participating element of Roman governance: This sapped away at the creative life of Rome, and eventually led to its coming apart. ..."
"... " today American inequality is as great as in the period right before the French Revolution, and is mirrored in what was happening to Rome in that long century of transformation. The problem we have right now, and which is going to make this revolution more intense, is I think, the cynical conclusion and agenda of Blue to just leave behind the Americans they do not need [in the New Economy] – which is to say all of Red America, and to put them into a situation of hardship and marginalization, where they cannot coalesce, to form a rival -- as it were -- Popular Front. ..."
"... "What I think what we are seeing here [in the U.S.] is profound: American society – emerging from this passage, is going to be completely different. And frankly, it already feels different. It already feels – as it has felt for the past four years – that we are in a rolling civil war norm now, in which deep societal strife is now the normal way in which we handle transfers of power. Issues will be [momentarily] resolved, with the path of society [painfully] staked out through violent conflict. That is likely to be our path for decades ahead. ..."
"... "The problem with that in the shorter term, is that there is still enough of the nation aroused and ready to fight this process. The problem: Can the last energies of the Old Republic still be harnessed against this seemingly inevitable, transformation?" ..."
Nov 09, 2020 | www.strategic-culture.org

One clear outcome of the U.S. election was the collapse of the promised 'Blue Wave' – an implosion that marks the 'beginning of the end' to a powerful spell enthralling the West. It was the delusion which Ron Chernow, the acclaimed U.S. presidential historian, gave credence, as he contemptuously dismissed America's "topsy-turvy moment" as purely ephemeral, and a "surreal interlude in American life": No longer can it be said that there is one 'normal'. Win or lose the White House, Red Trumpism remains as 'President' for half America.

Biden, by contrast, served as the prospect for Restoration – a return to a hallowed consensus in American politics – to a reassuring 'sanity' of facts, science and truth . Biden, it was hoped, would be the agency over-lording a crushing electoral landslide that would terminate irrevocably Trump's rude interruption of the 'normal'. Biden supporters were rallied, Mike Lind, the American academic and author has observed , around the idea of America moving toward a 'managed' society – based on 'science' – that would be essentially finessed and controlled by a managerial, expert class.

Over time, Lind suggests, American society would begin to depart more, and more easily, from its republican roots, through a process already underway: via attempts to alter the Constitutional order, and other rules, to bring about a change in the way America is governed.

The notion however, of what America – as Idea – now constitutes, has fractured into two tectonic plates, moving apart in very different directions – and likely to move even further apart as each 'plate' remains convinced that 'it won' – and the sweetness of victory has been stolen.

The fracturing of the 'One Normal', by contrast, provides some kind of respite to much of the globe.

The fact remains that the election has produced a result in which it is abundantly clear that one half of the American electorate precisely voted to oust the other half. It is gridlock – with the Supreme Court and Senate in the hands of one party, and the House of Representatives and White House (possibly) in the hands of the other. As Glenn Greenwald warns :

No matter what the final result, there will be substantial doubts about its legitimacy by one side or the other, perhaps both. And no deranged conspiracy thinking is required for that. An electoral system suffused with this much chaos, error, protracted outcomes and seemingly inexplicable reversals will sow doubt and distrust even among the most rational citizens.

Though the maths and maps suggests Biden will likely reach 270 Electoral votes, the old saying 'It ain't over 'till it's over', holds true. The electoral vote scenarios in the key 'swing states' would only apply if there is no litigation, fraud or theft. However all three are in play – If you are stuffing the ballot box, you first wait to see what the regular vote is, so that you know how many votes you 'need' ( mathematical anomalies aside) to push your candidate over the top. Trump, somewhat rashly, gave out the GOP vote calculations at 02.30 on Wednesday, and hey-presto, loads of absentee ballots suddenly arrived at certain polling stations at around 04.00. That seems to have happened in Wisconsin, where over 100,000 Biden votes appeared seemingly out of nowhere on a flash drive delivered by hand from a Democratic district. That put Biden ahead in Wisconsin – but litigation is in process. Likewise, it appears that a huge "absentee ballot" dump appeared in Michigan that heavily favored Biden.

This is just the beginning of a new and more uncertain phase that could go on for weeks . It may be that ultimately Congress will have to certify and make the final determination in late January. Meanwhile, there are some things we know with much higher certainty: The Republican majority in the Senate may hold until the 2024 election. So, even if Biden wins, his agenda will not hold through 2024.

A President may emerge, but it will not be, as it were, a settled one: He or she cannot make claim to the 'will of the majority'. Whomsoever is certified by Congress cannot truthfully say they represent 'the nation'. Consensus is fractured, and it is difficult to see any leadership that can bring Americans together as a 'united people'.

"There is not a single important cultural, religious, political or social force that is pulling Americans together more than it is pushing us apart," David French notes in a new book Divided We Fall: America's Secession Threat and How to Restore Our Nation . French -- an anti-Trump conservative -- argues that America's divisions are so great, and the political system so poorly designed to handle them, that secession may eventually be the result: "If we keep pushing people and pushing people and pushing people, you cannot assume that they won't break", he writes. (A 2018 poll found that nearly a quarter of each party – Democrat and Republican – characterized the opposing party as "evil").

An ideological split, and the concomitantly contested America as Idea has huge geo-political implications, reaching well beyond America itself – and principally for Europe's élites . European leaders did not see it coming when Trump was elected in 2016. They misjudged Brexit. And this year, they misread U.S. politics once again. They yearned for a Biden win, and they (still) fail to see the connection between the popular rebellion of Red under Mr. Trump, and the angry protests occurring across Europe against lockdown.

Separating tectonic plates – more strategically – usually signal a kind of dualism that betokens civil conflict. In other words, their separation and moving apart turns into an ideological struggle for the nature of society and its institutional fabric.

Historian, and former War College Professor, Mike Vlahos warns (echoing Lind), that, "there is, here: more of a hidden – and thus in a sense, occult struggle – by which over time, societies begin to depart more, and more easily, from their roots. The western dominant élites presently are seeking to cement their hold over society [moving towards a 'managed' society]: To have full control over the direction of society, and, of course, a framework of rule that protects their wealth."

"Quite to the surprise of everyone, and given that the Republicans are being represented by a billionaire who has a great many friends in Manhattan – the Wall Street donors to the two campaigns, outnumber Trump's donors for Biden by 5-to-1".

Why, Vlahos asks, would Wall Street invest in a man – Biden – and in a Party, ostensibly seeking to move America toward this 'managed' progressive society? Is it because they are convinced of a need radically to restructure the world's economy and geopolitical relations? Is this then Vlahos' occult struggle?

Many of the élite hold that we are at that monumental inflection point at this moment – In a nutshell, their narrative is simply this: the planet is already economically and demographically over-extended; the infinite economic expansion model is bust; and the global debt and government entitlement expenditure bubble too, is set to pop at the same moment.

A 'fourth industrial revolution' is the only way by which to 'square this circle', according to this mindset. The Reset is purposefully aimed to disrupt all areas of life, albeit on a planetary scale. Shock therapy, as it were, to change the way we humans think of ourselves, and our relationship with the world . The Great Reset looks to a supply-side 'miracle', achieved through full-spectrum automation and robotics. A world where the money is digital; the food is lab-grown; where everything is counted and controlled by giant monopolies; and everyday existence is micromanaged by ever-monitoring, ever-nudging AI that registers thoughts and feelings before the people even get a chance to make those thoughts.

Mike Vlahos notes that in a curious way this American story mirrors that of ancient Rome in the last century of the Republic – with on the one hand, the élite Roman class, and on the other, the Populares , as Red Americans' equivalent:

"This is in fact the dual story of Rome in the last century of the Republic, and it tracks very well -- with the transformation going on today [in the U.S.] -- and it is a transformation The society which emerged at the end of the Roman Revolution, and civil war had too, a totally dominant élite class.

"This was a new world, in which the great landowners, with their latifundia [the slave-land source of wealth], who had been the 'Big Men' leading the various factions in the civil wars, became the senatorial archons that dominated Roman life for the next five centuries -- while the People, the Populares, were ground into a passive -- not helpless -- but generally dependent and non-participating element of Roman governance: This sapped away at the creative life of Rome, and eventually led to its coming apart.

" today American inequality is as great as in the period right before the French Revolution, and is mirrored in what was happening to Rome in that long century of transformation. The problem we have right now, and which is going to make this revolution more intense, is I think, the cynical conclusion and agenda of Blue to just leave behind the Americans they do not need [in the New Economy] – which is to say all of Red America, and to put them into a situation of hardship and marginalization, where they cannot coalesce, to form a rival -- as it were -- Popular Front.

"What I think what we are seeing here [in the U.S.] is profound: American society – emerging from this passage, is going to be completely different. And frankly, it already feels different. It already feels – as it has felt for the past four years – that we are in a rolling civil war norm now, in which deep societal strife is now the normal way in which we handle transfers of power. Issues will be [momentarily] resolved, with the path of society [painfully] staked out through violent conflict. That is likely to be our path for decades ahead.

"The problem with that in the shorter term, is that there is still enough of the nation aroused and ready to fight this process. The problem: Can the last energies of the Old Republic still be harnessed against this seemingly inevitable, transformation?"

[Nov 09, 2020] First gaslight, then calls for unity: Why should Biden get any more unity than Trump four years ago? by Wayne Dupree

So neoliberal Dems gaslighted everybody with Russiagate for four years, staged Ukrainegate, and now cry for unity. Funny, is not it
For four years, Democrats branded Donald Trump an illegitimate president and treated him as such. Then-President Obama and Vice President Joe Biden plotted with FBI Director James Comey a way to oust Trump's pick for national security advisor, Michael Flynn.
Now they face the results of the attempt to depose Trump via color revolution (aka Russiagate), the result of neo-McCarthyism hysteria and cry uncle. To paraphrase Tolstoy: all happy democracies may resemble one another, but every unhappy democracy is apparently unhappy in its own way.
Nov 09, 2020 | www.rt.com

Wayne Dupree has been to the White House to talk to President Trump about race relations and appeared at election events for him. He was named in Newsmax's top 50 Influential African-American Republicans in 2017, and, in 2016, served as a board member of the National Diversity Coalition for Donald Trump. Before entering politics, he served for eight years in the US Air Force. His website is here: www.waynedupree.com . Follow him on Twitter @WayneDupreeShow I've participated in eight elections including this one, and I've never before witnessed the open hostility and vitriol that's been aimed at President Trump.

No president was ever abused like Trump was from day one. The Republicans didn't cooperate with Barack Obama at all, but any thinking person can see the difference between the way Obama was treated and the way Trump has been treated. The past four years have set a dangerous precedent, and you know what they say about karma.

Representative Nancy Pelosi and Senator Chuck Schumer refused to work with President Trump on anything, but now the socialists want the Republicans to work with them. Interpretation: we want the Republicans to work with us as long as they believe everything we believe and do everything to help us, even if, in their eyes, it destroys America. No dissent will be accepted.

You really have to wonder about this arrogance from the Democrats and their call for unity, don't you? Joe Biden is calling for unity because he doesn't want to face the constant scrutiny the Trump administration faced. After all, do you think the hundreds of millions he received in campaign contributions didn't come with strings attached?

READ MORE Wayne Dupree: Why I, as a black man, am voting for Trump, along with a large number of people who consider themselves Democrats Wayne Dupree: Why I, as a black man, am voting for Trump, along with a large number of people who consider themselves Democrats

Right now, there's not enough critical thinking for unity to happen; our emotions govern too many of us. The media have played on that for four years. They convinced millions of Americans they would have to be insane to consider re-electing Trump, even though most Americans are sick of the establishment politicians and their big empty promises, sick of their endless and expensive foreign wars, sick of a sluggish economy, and tired of the outsourcing of American jobs.

How can unity happen when the rift between liberals and conservatives is larger than ever, and the two sides envision this country's future in vastly different ways? How will half of the American population ever again trust their sources of news and information when nearly every outlet has lost all pretense of objectivity? Every bit of reporting has become an opinion piece.

In marriage, they call these irreconcilable differences. It may not happen in my lifetime, but this country would do well to consider a peaceful separation.

Our national media have failed us. And that's all media, including social. They caught us all hook, line, and sinker. Why? Money. We are such a gullible species. The more people hear an idea promoted, the more it sounds true. This is why our country is divided. We rely too heavily on our media for information, true or not. They manipulate us with their words like modern-day bards. Journalism is indeed dead, and it's been replaced by sensationalism. But it all boils down to who's really at fault. To find that out, look in the mirror. Yes, we all let this happen to us.

I wouldn't blame people for believing phony news. Think about it: why do companies spend literally billions of dollars on commercials? Companies use commercials to change our buying habits, and they work extremely well on a subliminal level. Likewise, the mainstream and social media use misinformation, distortions, deceptions, and omissions to change people's voting behavior on that same subliminal level. The only way to ensure legitimate elections in the future is to destroy mainstream and social media's hold on our country.

ALSO ON RT.COM Bitter election aftermath suggests that US democracy really is in its death throes

In the past four years, the behavior of the Democrats has been that of junior high school bullies with no adult supervision. What all men want most is power, and the Democrats will do anything to get it. We can't take their low road, but should stand against their further attempts to turn this into a one-party nation. We need a broad spectrum of ideas to keep our country strong and our citizens cared for.

One party does not have all the answers, nor can they dictate to the other parties how to worship, think, or even eat. When I was young, I was a Bill Clinton Democrat. I walked away before the Obama administration and never looked back. I believe more and more people are doing that, and, by the 2022 midterms – well, watch out, Dems!

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.


[Nov 08, 2020] Michael Hudson on Financialization and Deindustrialization -

Nov 08, 2020 | www.nakedcapitalism.com

Paul Jay: So Trump made all kinds of promises and is still blowing his horn about this issue of returning jobs and the rebirth of American industrial manufacturing. But he hasn't succeeded. Why? And there are some bigger reasons for that, aren't there?

Michael Hudson: Well, we've talked about these bigger reasons for quite a few years now. And my point is that the economy's been in a slow crash. The reason is that to become an industrial economy, you have to lower the cost of living and lower the cost of doing business. That's what the whole fight of classical economics was all about. But the economy has become more and more financialized and polarized. It's impossible to cut costs.

You mentioned the pandemic. Health care now absorbs 18 percent of the GDP. If you look at the other costs, if you're a wage earner, 15 percent of your income right off the bat goes to Social Security and medical insurance. You have regular taxes, anywhere from about 20 percent. You have mortgage debt that is up to about 40-43 percent of average income. At least that's what the U.S government is willing to guarantee when bankers make a loan. You have other loans; you have student debt to pay for an education in order to get a job, you have automobile debt to get to the job.

Paul Jay: Add credit card debt to that.

Michael Hudson: Absolutely. Credit card debts have been stable. As people are falling further and more into arrears, their interest rate jumps from about 18 percent to 29 percent or more. So the same amount of debt now absorbs a much larger part of your income. So the result of all this is that if American workers in the industry got all of their food, all of their clothes, all of their transportation, everything, all of the physical goods and services they use for free, they still couldn't compete.

In fact, if they just had to pay their wage withholding for Social Security, medical care, and overall health insurance alone, that is larger than the wage levels in Asia where we're importing things from. So the fact is that the United States has made itself uncompetitive because of this idea that, well, if one wants to get rich and the way to get rich is to go further and further into debt to buy houses that are rising in price. But as houses rise in price, then you have to pay more and more debt service or more and more rents to the people who buy the same houses on debt.

The result is that America is priced out of the market. Well, this is what Ricardo talked about in his free-trade theory way back in 1817. He said that industrial capitalism was not going to be able to take off in England if British workers had to pay rising rents as food prices rose behind the agricultural tariffs that England had. And there was a 30-year fight to finally repeal the agricultural tariffs, the corn laws. Ricardo said, if you don't stop the economy from having to pay the rentier class at that time, the landlords, then you're going to have the Armageddon of capitalism. You're going to have the day of judgment that our rents are going to rise to take so much of the wage earners income and the industrialist's income that there's no room left for profit.

Basically, if you're going to compete with other countries and try to sell or buy American goods instead of imports, then you're going to have to pay enormously high costs to pay the rentier class, which is basically the one percent: the finance, insurance, real estate sector, and the fire sector. Instead of becoming an industrial economy, the United States has become a fire sector economy. And Trump has not done anything at all to reduce that. The economy is getting obviously sicker and sicker, once again. Medical costs are going up. The states and municipalities are broke. Small businesses have been going out of business. So, where is the demand going to be for domestic American manufacturing? And why would one pay for manufacturers with labor that cost 10 or 20 times than what it costs abroad? When you add up all of these rentier costs into the equation, it can't be done.

Paul Jay: Well, there seem to be different parts to the argument, and they kind of all lead to the same conclusion, a continued lack of industrial jobs in the United States. In the article, in spite of the tariffs against Chinese imports, these American corporations on the whole that we're producing in China, a lot of them just moved to other cheap wage economies. They're talking here in Vietnam and Mexico. So the actual balance of trade didn't change at all.

Michael Hudson: That's right. American corporations are going after global and multinational, and they're going to hire labor wherever it's cheaper than American labor. And that's almost everywhere in the world because no other country in the world has to pay American style health insurance. No country in the world has to pay residential rents that are charged in the United States. Other countries just don't have the heavy financial overhead structure that the United States has. So there's no way in which these countries, these multinational firms are going to produce in the United States.

Paul Jay: The Trump plan and the Republican plan, in spite of all the demonization of China, of being the source of all evil, including the virus itself, never mind taking away industrial jobs, which is all a process. Outsourcing was obviously all an American driven process, American corporations. It leads to this kind of dead-end because the more American workers' wages and living standards go down, the less they can buy. So even if you're producing cheaply abroad, your market is still getting smaller in the United States.

Michael Hudson: Yes, the living standards are going down, but not the wages.

Paul Jay: And not the cost of living, just the standard of living. We see this even in the fight over what to do in the pandemic. The Republicans are against another big stimulus plan. The Democrats supported the original plans, but they also supported only so much of those plans actually going to defend the cost of assets or the value of assets of the rich, and more went that way, if I understand it correctly, than actually went to workers and working families.

Michael Hudson: We're talking about eight trillion to the one percent, two trillion to the rest of the population. Nancy Pelosi and the Democrats made a deal with the Republicans. They both agreed that they wanted to pay their respective campaign contributors, the financial sector, and the real estate sector. They were realistic. We can't save the economy. We can save the stock market. Let's put eight trillion into the stock market and the bond market, and let's save the banks. Let's have the Federal Reserve use some of this eight trillion to buy the packaged mortgage loans, the packaged oil industry loans, the loans that are going bad. So let's bail out the rich people. Neither the Republicans nor the Democrats really cared about the working-class. I think Trump had some care for the working-class, but other Republicans didn't. The Democrats said, will promise the workers that we'll get to the fact that we know that the states and local localities are broke. We know that the subways are running at a deficit. We know that the cities are broke, and they're going to have to lay off people. But we really can't deal with that. Let them go under. Nancy Pelosi said, well, we'll get to all that later. She knew very well that she wouldn't get to that later. She wouldn't even agree when Trump said, well, let's at least send out another two trillion and the twelve hundred dollar checks to everybody, she wouldn't even agree to that.

So the Democrats have come out really to the right of the Republicans, or they've made a right-wing shift.

Paul Jay: Yeah, I don't think you can say to the right of the Republicans.

Michael Hudson: It's almost impossible to say. You're right. Let's just say nobody really cared about labor or how it's been doing. Nobody has made any proposals because, in order to deal with the employment problem and the industrial problem, you'd have to restructure the economy. The economic structure now isn't simply a question of not having enough money to live or enough money to buy goods and services or enough profit. It's so male structured that the industrial economy and the wage-labor has been absolutely flat for decades now. All of the growth of income, certainly since 2008, all of the growth and wealth has accrued just to the top ten percent. It's accrued in the form of rising stocks and bonds and housing prices. But rising housing prices don't make it easy for wage earners because no workers have to pay more and more for the homes that go up.

So instead of making the economy richer, the boom in stock prices and also the stock and bond market is making the economy more debt-strapped. If you're a worker expecting a pension, the pension funds are only able to make less than one percent on risk-free capital. So they're taking a lot of risks, and they're usually taken advantage of by the Sharpies of Wall Street that sell them derivatives, as to which occurred with CalPERS, the California pension fund group.

I don't see any way out of it without either writing down the debts, certainly for the debts run up during the pandemic, writing down the rents. If you leave the last six months of rent in place and debts in place, then you're going to try to start any kind of recovery after the virus is over with this huge backload of rent hanging over you, the huge backload of debt service.

There's no way that a lot of companies can stay in business, the fracking industry, for instance.

There's no way that a lot of workers can avoid being laid off, especially if they're public employees for cities and states or public agency employees. The New York City Transit Authority says, well, we're going to have to lay off our transit workers because we don't have enough money to pay because people haven't been taking public transit during the pandemic. We've had to pay labor, we've had to pay our bondholders. Obviously, something has to give. And I think the Democrats and Republicans are in agreement that what give this is going to be is in labor, whose economic conditions, not those of their respective campaign contributors.

Paul Jay: Well, let's say you got a phone call, and I have absolutely no doubt, and there are very few things I have no doubt about, but I have no doubt you will not get this phone call. But let's say you do.

Biden calls you and said, OK, I've been listening to you, and you're talking about restructuring. So what should I do? And I know Biden's not going to call you, but what should a Biden administration do? It's a very critical, dangerous moment in so many ways.

Michael Hudson: Well, you're personalizing it. And the problem is, what could any president do? The tax laws are made by Congress. And you've seen with Donald Trump; it doesn't matter what he tries to do, it wouldn't matter who's president coming in, because one of the things that are needed to be done is to write down the debts that are owed to the banks. The economy cannot recover when it's working under this debt burden. Many people have talked about at least starting by writing down student loan debt with the huge default rates there are now. As long as you leave the student loan debt in place, students are not going to be able to qualify for mortgage loans. So they can't buy houses of their own because they're already pledging too much of their income to pay student loan debts.

Paul Jay: Student Loan debts are around a trillion dollars?

Michael Hudson: Yeah. It's larger now than credit card debt. Thanks to the bankruptcy law that Mr. Biden put in, you can't wipe out the student debt with bankruptcy. I mean, it was really Mr. Biden more so than Donald Trump that has screwed up the economic system by what he did in sponsoring the laws. He was the senator from Delaware, New Jersey, which is basically the corporate banking state. They called him the senator from the credit card companies. He represented the credit card companies against labor. His whole career has been fighting against labor. And it's inconceivable that he would ever call someone like me any more than what he said on 60 Minutes on Sunday. He said people think that I'm going to be like Bernie or AOC, but I beat those guys. You'll never call me a socialist.
When Kamala Harris was asked if she was a socialist or a left-winger, she just laughed and laughed and said, how could anyone possibly believe that? And of course, if you look at what she did in California by supporting Mnuchin in all of his fraudulent evictions, she supports the real estate owners even when they're illegally acting against the renters. So neither of them is a friend of labor. So what they would call me to say is what we need is a patter talk from you, Mr. Hudson.

Paul Jay: Don't take the phone call thing too seriously. But what I'm getting at is a progressive people's movement and the progressives that have been elected to Congress, what should they be demanding? What do real solutions look like?

Michael Hudson: What they should be demanding is something that cannot be done within the existing two-party system. First of all, the way to keep down housing prices and to get the cities and states out of their deficit is to tax unearned income. Tax the land, have a real estate tax that'll collect all this rent that is being paid right now to the banks as mortgage interest. Either you pay the banks the contractual interest that they're due on all of these loans, and you go broke. Or you realize the banks have become averse to economic welfare. You have to let the financial system go and replace it with banking and credit as a public utility.

That's what makes China so competitive. Why is China able to outstrip American labor? The Chinese have almost; I'd say, an equal standard of living from everything that I've seen there. Well, the reason is that China is doing exactly what the United States did to become an industrial power in the late 19th century. China has public utilities, public enterprises providing basic needs, and basic public services at a subsidized rate or freely, such as education, it's free. Foreign labor doesn't have education debt like the United States. Education is free. Health care is public. It's provided freely. There's no huge limit.

Paul Jay: Let me say, I think that's not quite as rosy as it appears. My understanding is that while health care is supposed to be free and public, that you actually have to wind up having to pay doctors some cash, or you really can't get in to see them.

Michael Hudson: Yes, that is fair. I do acknowledge that fact. But the most important public utility to answer the question that you brought up, the important thing is that banking and finance in China is a public utility. The government is the creditor. When there's a pandemic like this and companies cannot afford to pay the debts or have to lay off labor, the government, as a banker, can say, OK, we're just not going to collect the debt and force you to go under and force you to lay off your labor force.

It's easy to cancel debts when you, the public, and the government are the creditor. Because you're canceling debts owed to yourself, and that's one of the main reasons why banking should be a public utility.

Paul Jay: Well, in some ways, banking is a public utility if you're a big bank or if you're a big corporation because the Fed actually did essentially give corporations and banks so much cash during the pandemic, they were able to pay off their debts. So it kind of is a public utility if you're in the one percent.

Michael Hudson: Yes, you're right, what I meant as a public utility serving the public interest. Obviously, who is going to control the state? And that really is the key. Will it be progressives that control the state, or will it be the one percent? And right now, you mentioned what progressives in Congress could do?

Paul Jay: Well, before you do that, let me just add one thing to what you just said. The ability of the major financial corporations and large corporations, although I think finance is by far the dominant force because if you look at who owns almost all of the major corporations, the majority owners are big financial institutions. The majority of shares are held by big banks and, in particular, by asset management companies like BlackRock, State Street, and Vanguard. But not only them, but there are also others.

The power that the financial institutions wield over government is what Roosevelt defined as fascism. He said that when one sector of the economy, one group of companies essentially controls or owns the government, that's fascism. And we are virtually, or we are there.

Michael Hudson: You're quite right. You're absolutely right.

That is the problem, we are in a centrally planned economy, but central planning is done on Wall Street, not in Washington. Now that you've essentially privatized and financialized the political process, the Supreme Court ruled that corporations are people, and corporations can buy control of the political process. So that's basically what the problem is.

Let's get back to fascism because that's very important. Around the time that Roosevelt made that comment, Trotsky analyzed fascism in Germany and Italy, and he said that fascism is what occurred when the socialists don't have a solution to the problems.

I think we are indeed emerging in that kind of fascism today because you don't have the left or the progressive interests really coming up with a solution to the problems. And that's because the only kind of solution is so radical that it can't be solved within the existing political framework and the existing legal framework. There has to be the equivalent of a revolution. It's not going to be an anti-fascist revolution; then it'll be a fascist revolution. What we're seeing is that kind of a slow revolution.

Warren Buffett said there is a war and we're winning, but we seem to be the only people that know that the wars on. The war is on, and we're moving towards an economy ruled by the one percent. And I mean, fascism basically is the integration of corporations and the state leaving out the voters and the working class. It's a corporate state. And as you pointed out, we're not simply a corporate state here. Otherwise, the industrialists would be trying to run the economy to promote the industry. We're in a financialized state, and that's finance capitalism, which is very different from industrial capitalism. Many of the Left, especially the Marxists, still talk about industrial capitalism as being the problem. And yet industrial capitalism is being phased out in the United States, as you pointed out at the beginning of this show. And it's being phased out by finance capitalism. And that isn't even being discussed here, either by the media or even on the left; there's not much discussion of it.

Paul Jay: I wouldn't say, from what I understand, industrial production is being phased out.

Michael Hudson: That's the dynamic of industrial capitalism.

Paul Jay: But there are certain areas of the economy that are still very industrialized, and the amount of industrial production is still not great. But it's only in very specific kinds of areas, the higher-tech areas and such, anything that can be farmed out, offshore gets farmed out. But this issue of public banking is critical, and I think it needs to be focused on because it's not nearly enough in the focus of the demands of the progressive movement, in the Green New Deal, and other places.

It is breaking the hold of finance over the government. And I don't see how that happens without public banking. There's still a lot of talk about breaking up the big banks and regulation. Breaking up big banks probably is a good thing. But it only really works if, at the same time, you build public banking on a large scale. Diverse ownership, it could be owned at federal level states, cities, regions, cooperatives, co-op banks. But you need something on a scale that when the big banks try to threaten, too big to fail, a government needs to be able to say, well, you're not to go off and fail. You can't blackmail us anymore because we have a real public banking system. I don't see it happening within this Democratic Party.

On the other hand, the demand needs to be raised far more forcefully.

Michael Hudson: Well, the problem is what kind of banking are you going to have? And the whole tradition of American and British banking has been to lend against assets. So banks will not make a loan unless you have collateral to pledge. And the collateral is going to be assets and property that's already in place, mainly mortgages on real estate, but also it could be stocks and bonds or other assets. Banks don't lend the finance industry building a new capital. They'll lend to corporate raiders who buyout industry. They will lend to the industries you cited, and that includes high tech industries. This isn't the old kind of industrial capitalism industry; these are monopolies. Amazon, Apple, and Google make their money from monopoly rents, if not really profits. That's why they sell it for nearly a trillion dollars.

The economy is geared towards not only land rents and interest but monopoly rents. And when I talked about industrial capitalism, I was talking in the Marxist sense of the dynamic of industrial capitalism, certainly, as it was developing in the 19th century, was to cut the cost of living, to cut the cost of doing business by getting rid of all rents. It was the business class in the United States. It was the industrial class; it was the Republicans and the 1880s and 90s that pressed for public enterprises. And Simon Patten, who was the first economics professor at the Wharton School of Economics, said public enterprise is a fourth factor of production. Unlike business investment and industrial investment, it's not there to make a profit. It's there to provide basic services at a low price to subsidize the cost of living and the cost of doing business so that industrialists can minimize what they have to pay the basic wage to labor and what they have to pay to do business with. They can afford to undersell their rivals.

Now, that's exactly what China is doing by having the public enterprises headed by public banking to provide credit. That's exactly what Germany did. Its banking was very different from American banking and British banking. German banking would actually create credit to finance capital investment by heavy industry, especially the war industries, but also steel. All the big industries got their financing from the banks that also organized the stock investment not to support stock prices, not to get quick dividend payouts, but to keep reinvesting the earnings and capital expansion.

That, again, is what China has done, as Germany did and as the United States did in the 19th century. But that was the whole dynamic of industrial capitalism to keep economic rents at a minimum. But now we're in a rentier society backed by financial interests. And you're absolutely right. It's the banks that are the mother of Monopoly. It's the banks that are protecting the large monopoly industries. It's the banks that are pressing for states and municipalities to sell off their assets, like how Wall Street forced Chicago to sell its sidewalks to put parking meters up to vastly increase the cost of driving around, in Chicago. When Goldman Sachs lent against that.

So it's the banks and the financial sector that are turning regular highways into toll roads. And now they're coming to New York and say, well, maybe your subways are broke. Well, we don't think they're really creditworthy, but why don't you privatize them. We'll do what Margaret Thatcher did with the transportation in England. And of course, once it's privatized, they're going to build debt service and interest rates, management fees, and stock buybacks all into the cost of providing subway service or bus service or road service. And the economy is on the same trajectory that England was on under Thatcher and Tony Blair. And that's really the problem. What kind of capitalism are we going to have?

Paul Jay: If you look at the critical problems facing our society and societies around the world, really, the solutions are socialized solutions. There's no way that you can deal with the climate crisis without some kind of central planning, without government driving it, and without socialized solutions. Just the way Medicare for all makes perfect sense. Medicare for all makes perfect sense. The same principle can be applied in other areas of the economy, certainly starting with banking.

But the more problems cry out for more socialized solutions. If you want, you can use this terminology of a mixed economy for the more socialist characteristics of the economy to come more to the fore. It's so obvious that's what needs to be done, or the society is not going to last.

But even when you read some of the documents, I follow BlackRock, and I read their research papers. They even recognize, at least in words that the urgency and danger of the climate crisis, but it's obvious from what they say, they don't reach a conclusion, but they come right up to the edge of the conclusion that the marketplace on its own will never allow or force investors to change the way they actually invest. BlackRock claims they're getting out of coal, but it's smoke and mirrors. If people want to see the analysis, I did, of that, and I have an article on the website about BlackRock.
But the market mechanism will never change the course to phase out fossil fuels relatively quickly, have a massive investment in green, sustainable energy. That doesn't happen when the model of the financial industry, which is quickest maximum return on their capital investment, that only government can do that. But the government can't do that when it's controlled by finance.

So this issue of a more socialized solution like you asked, is what version of capitalism solves it. I think the version of capitalism is no version of capitalism. In the sense that the socialistic characteristics of capitalism really have to come to the fore, that there really has to be a transition to far more public ownership.

Michael Hudson: Well, a century ago, everyone thought that capitalism was leading to socialism, and that was shared by large industrial firms. They wanted to socialize the costs of the economy. They wanted to socialize the land. It was the industrialists, Ricardo and John Stuart Mill, who were the industrialists that wanted to get the land tax and to get rid of the landlord class in England.
Now and all throughout Europe, it was the upper house of government, the House of Lords, or the Senate that tried to block any kind of reform, not only leading to socialism, but that helped capitalism. There had to be a political revolution strengthening the House of Commons relative to the House of Lords. And that occurred in 1909-10 in England. Now, here you're going to have a similar constitutional crisis in order to do the socialist policies that you mentioned. The crisis is not only because there's federalism in the United States, states' rights that are written in the Constitution, to have an economy that can rescue the American industry, and rescue the American working class, you need to rewrite the Constitution.

But the efforts to make plans for a constitutional convention have all been done by the ultra-right, by the Federalist Society, and by the people that you and I have made fun of for many years. And I don't see any movement on the left to say the situation is so serious that we need a radical rewrite of the Constitution in order to become really a parliamentary democracy that can provide the political context in order to introduce socialist policies.

So the problems not only economic; the problem is that to solve the financial and rentier economic problem, you need to restructure the political problem here along the lines that were restructured in Europe and obviously in China.

Paul Jay: Well, I don't want to get too much into China because I find it too complicated, and it's a whole other conversation.

But that said, we're in a moment where we don't have much time climate-wise. We're talking less than a decade. The truth is, given the way the politics is right now, we're not going to make the kind of moves that need to be made in less than a decade.

But at least, I have to say, with a Biden administration, as much as I agree with your critique of the Democrats and Biden, at least it's a conversation about what a climate policy should be. I think four more years of climate denial will be a complete disaster.

But there is something about the 19th century, which I think is informative about what might be possible here, and this is a bit of a Hail Mary, but anyway. When it came to child labor, I guess we're in the mid 19th century; the section of the capitalist class understood that if the mines and mills and factories continued to exploit child labor as intensely as they were, they were actually going to prevent the reproduction of the working class. There weren't going to be enough workers. They were literally wiping out the working class of England. Those voices that saw the systemic interests of the class interests of capitalists was served with laws prohibiting child labor, and it won.

Of course, the working class was still just getting organized into unions and fought for these laws as well. But the systemic interest asserted itself, and they did outlaw child labor. Well, we're in that kind of moment now; the systemic interest, the threat of climate disaster is going to demolish much of the assets of the capitalists. Maybe not tomorrow, but certainly it's within sight, 10, 20, 30 years.

Every time you look at the scientists' assessment of what's happening in terms of climate change, it always seems to be changing faster than they thought it would. The estimates of the IPCC always turn out to be conservative, and it's actually more dangerous than people thought.

So the problem is we don't have time to politically win the power to rewrite a constitution, and we also don't have the time to have a kind of political revolution, the way Bernie Sanders even talks about. To the point where you can develop these socialist characteristics or socialistic side of the economy, even though it has to happen.

There has to be a way that a mass movement can both force, persuade, demand that at least some sections of the elites, and it's going to be hard for finance because they are in an orgy of profit-making. But they need to get they're not going to be able to reproduce their own wealth the way this is going because the climate is going to destroy it.

Michael Hudson: But, Paul, they don't care. The Financial Times is short term. What you're talking, in reference to climate change does not exist within this year. And this year is where their perspective ends. Finance lives in the short run. They think they can always take their money and run. And as long as they live in the short run, they only care about their bonuses. They care about the stock price. What you're talking about is something that's going to happen in more than 12 months. Just as politicians usually don't care more than the four years, presidential term or the six-year Senate term. Their time frame is a mentality, and the mentality of the one percent being financialised is the financial mentality of living in the short run. When you criticize the market, as you correctly did before, the problem is that the market is short term. The market is a cross-section at a given moment of time, and you're talking about where it's all leading in the future. This is what business economists call an externality. Statistics will treat global warming as an externality, external for their economic models.

In other words, it doesn't matter for the things that they care about. The one percent cares about quite different things than the 99 percent and progressives care about. So it's that mentality that you're dealing with, and the mentality is not going to change. Even on the interview on 60 Minutes on Sunday night, Vice President Biden said, don't worry, he's not going to cut back fracking. It's more important to support fracking profit, even if it pollutes all of the water sources. Even if it pollutes the water and destroys the environment, we're going to be for it because Wall Street lent money against it. And we're supporting the banks that support and rely on fracking, or the banks will be in trouble.

I mean, that's where we are right now. Nobody is making a move to save the environment apart from global warming, the water supply, the air supply, nobody. I don't see any way of introducing this in an economy where the whole mentality of the powerful people who make the laws are short term.

Paul Jay: Yeah, I know they once asked Marx what the mentality of a capitalist is? He said, 'Après Moi, le déluge,' which means 'after me comes the floods.' It's a quote from King Louis XV.

Michael Hudson: They're going to buy houses in New Zealand if they can get there, somewhere high up.

Paul Jay: I don't have any great hope that it happens. I certainly don't have any great hope that it happens other than a few individual cases. But whatever might happen only happens if there's a very large scale, well-organized, progressive mass movement with a political agenda. Within those conditions, it may be the science gets clearer. The threat gets clearer on climate.

There is a point where the effects of climate change would get so profound, so serious that finance would see it in their interests. And I think there are some sectors, I'm told by people that know people high up in finance, and quite a few of them are getting the urgency and danger of it, but they can't break out of their business model.

Michael Hudson:That's the problem. I mean, what surprises me, all you need are a few billionaires. A few rich people to endow a progressive movement. Even in the Roman Empire, as it was collapsing and leading into the Dark Ages, you had members of the elite saying this is a hell of a way to make a living or make an empire. Things have to change. And of course, that led to such a revulsion against wealth and short-termism that you had Christianity spreading. People just revolted at the selfishness and the greed and the short-termism of the Roman Empire.

I would have thought something would happen here in the Senate. But that takes individuals. If you look at what wealthy people are giving donations to, it's not the foundations that are what you and I would call progressive.

Paul Jay: All right, we'll continue this conversation. Thanks for joining us, Michael.

Michael Hudson: Good to be here, Paul.


Tom , November 6, 2020 at 11:12 am

Yes but I wish we could have more discussion about the kind of economy we want.

I'm not convinced that a production-consumption economy is desirable even if it leads to full employment with decent income for every household. I think we need an economy that supports people while minimizing consumption because environmental degradation. We need more caring, repairing and maintaining and less producing, creating, innovating, disrupting and travel. We need to reconsider our consumer economy and all the ideology supporting it, including individualism.

digi_owl , November 6, 2020 at 10:29 pm

This seems to harken back old man Marx.

His basic vision, after observing capitalism in action, was for the workers to take over the means of production (factories etc) and run them for the best of the many rather than the few.

But that meant that the communist takeover had to come from inside a industrialized nation, something it has seldom done thus far.

He also observed that during a crisis, it would be better for industrial capitalists to side with the workers against finance, but that if they ever do so they do it far too late.

I must say i also love Steve Keen's little thought model on why private debt paired with a government surplus is bad news btw. The money to pay for living expenses, interest and taxes has to come from somewhere. And the two available sources are ultimately private debt (mortgages, credit cards, etc) and the government running a deficit.

And frankly the problem of excess production have been with us since the dawn of industrialization, leading to the creation of marketing after the great depression in order for people to switch from a needs to a desires mentality around buying.

Never mind that in the end, we are all living beyond our means geologically speaking. The only reason Malthus was "proven" a fool was the introduction of industrially made fertilizer. But that fertilizer is directly or indirectly coming from fossil fuels. And thus we are still slaves of thermodynamics.

Susan the other , November 6, 2020 at 11:32 am

I'd just like to submit that everyone in this country, regardless of their "wealth" feels trapped. It's the main reason I'm so concerned Biden, or even Trump, will take us off to war. It's the ultimate distraction, no matter how irrational it is. And I disagree with Hudson that there is no way to change the constitutional foundations of democracy to serve democracy. I believe there is a pretty quick way to do it and it is to make the Federal Reserve the Fourth Branch of Government with a mandate to maintain Democratic Money. It would be the quickest reform we could pass; it would solve all the ridiculous intransigence caused by debt; it could happen within one session of Congress. I do agree we don't have time to mess around with convoluted and contested ideologies – but we do all have this sense of urgency. If Neoliberalism as we know it – financialized economics – is now the fabric of the entire economy like the fabric of space, then we should fight fire with fire, fabric with more fabric. Spend the money we need to turn global warming around and restore society – just spend it. It's so very simple. And that circumvents more financialization – in fact it will dry up the well – as it provides what society needs. All it is is money: It is meaningless unless it is democratic. Give the Fed the power to make social decisions. Things would be off and running just that fast.

Terence Dodge , November 6, 2020 at 12:07 pm

That is a very interesting idea. I cannot imagine how it would done as it is so alien to our political process. Thanks for expressing it.

juliania , November 6, 2020 at 12:42 pm

It is not alien to our political process! I was reading the lecture given by Chinese Professor Zhang Weiwei at the Schiller Institute in Germany ( can be accessed by using those search terms; excellent presentation!) which gave a link to US tradition -- Abraham Lincoln's famous quote concerning government of the people, by the people, for the people. That is, or should be, the basis of the US political process, our heritage in this country.

What has China done to become the success it is? I submit that with all the national and unique heritage differences it presents, it has taken up this core value and made it China's fundamental priority. We can argue did it always have this commitment? Doesn't matter one twig if it always did. Somewhere along its path it has come to incorporate this truth, that the people's livelihood is the first priority for government; it is sovereign.

Seems to me the US Constitution is all about that.

John Rose , November 6, 2020 at 8:45 pm

I have been writing to whomever I thought would listen, futilely so far, urging the Fed to offer monthly loans to any citizen asking for them, no interest, no term and callable only at the same monthly rate instead of the Fed making the necessary trillion dollar a year increases in the money supply through the banks. Same process, different actors.

With the ability to call were inflation to arise, the Fed would no longer be limited to pushing on a string and feeding money at such a retail level would be immediately stimulative as were those $1200 checks and boosts to unemployment insurance.

Given the creative efforts the Fed has employed recently, they could well do it on the basis of their current mandate.

tegnost , November 6, 2020 at 9:09 pm

except that everyone would pay off their student loans with that money and where would 100 billionaires park their ill gotten gains? 10 year treasuries?

Thor's Hammer , November 7, 2020 at 10:35 pm

juliana
re the American Political Tradition
Tell it to the First Nations -- -

"Violence is as American as Apple Pie" -- - H. Rap Brown, Black Panther leader

Uncle Warren says there is a class war and his class is winning, His flagship company Berkshire Hathaway purchased Burlington Northern Railway from Denny Washington to gain monopoly price control over the mile long coal trains heading to the Midwest. A logical business decision, exactly what we should expect from one of the Deciders, and exactly why his class and it's values must be overthown lest it destroy the future of the planet..

The Malignant Overlords of American "Capitalism" have a monopoly, not only over Capital but the means of Power -- - Propaganda and armed force. Elections are merely circuses held for the entertainment of the rabble and change nothing except perhaps the division of spoils among the .001%. The Deep State bureaucracies do their bidding without any concern for the commoners. Warfare is a permanent feature of State policy designed to keep the engines of Demand Creation whirling.

All the logical economic arrangements a Michael Hudson may propose will vanish into a black hole until the Power of the financial Overlords is broken. The pace of climate change tells us we do not have a century to evolve new economic and political systems. The instrument of terror for the French Revolution may have been the guillotine, or In the USA it may be the AK47 and the 50 caliber machine gun. Or if we still retain a measure of civilized behavior it could be a culling of the Trillionaire Malignant Overlords, stripping them of every possession, and banishing them to a peaceful retirement in a cinder block house somewhere in the outer Bahamas.

Gulag , November 6, 2020 at 2:06 pm

Doesn't the Fed already have the power to make crucial credit/money/social decisions?

And isn't the Federal Open Market Committee of the New York Federal Reserve Bank already one of the most powerful and undemocratic entities in the United States.

How exactly are FOMC decisions subject to democratic control? The last time I looked the FOMC doesn't even have to take complete minutes of its committee meetings–a privilege I believe is granted to no other institution of government, including the intelligence services.

As Alan Binder noted in the 1990s this makes FOMC decisions, for all practical purposes immune from reversal.

I

Susan the other , November 6, 2020 at 3:33 pm

Not completely sure, but I'd say the problem is that our banking system is quasi-private but completely controlled by private capitalist interests which are frequently at odds with social interests. Especially now that everything is so completely out of whack. So we generously funnel sovereign fiat money through the private bankers whose charter probably ends with admonitions to maintain price stability and full employment (which is impossible but never mind) – and all sorts of things that have proven themselves to not and never work. And to that ridiculous end we immediately – hot off the press – we give private banks the ability to allocate money (we actually just" back" them as we let them create money by writing up debt obligations (which can no longer be serviced but also never mind) by the old English methods based on collateral (Hudson above) which leads to monopoly capitalism – it should now be our first clue – the first thing we need to change. Not so much change (as change is such an intrinsic process we might never achieve it) but go around it. Just tell the banks "whatever". If you think this is a loan that the private economy can service then go for it. Otherwise and in the meantime public, democratic, socially responsible money will fund our social well being by spending sovereign fiat directly into the social economy. If we passed new legislation to this effect the Fed would indeed have the power to make economic decisions based on social necessity and etc.

Gualg , November 6, 2020 at 6:56 pm

Hi Susan:
What I don't understand is why you believe that our present Central Bank and its capacity to create fiat money is in alignment with the interests of the average U.S. citizen?

Shouldn't the nature of its emergency lending over the past 12 years, in itself, indicate that this entity has little interest in supporting your average working stiff in any way, manner or form?

How can "public, democratic, socially responsible money" ever emanate from such an institution?

It seems to me that the primary purpose of the Federal Reserve is to absorb as many reserves of sovereignty as possible via a combination of relatively esoteric knowledge and irrevocable policy-making power.

Susan the other , November 7, 2020 at 11:57 am

Central banks do make me nervous too. Their latest push for an international digital currency is clearly an attempt to make them more efficient payment settlement providers. To make the world of neoliberal capitalism go around and around smoother, imo. I'm not against digital currencies, I'm in favor of efficient banking, certainly – but I keep up my wishful thinking that central bankers cannot deny reality much longer. That reality is now social/environmental well being. So if the bankers do go international in an effort to maintain neoliberal capitalism they will fail miserably if they do not become realistic enough to provide a source of demand. Demand as it is now has been devastated by giving all the money to the supply side and none to the consumer and further indebting the consumer to poverty and hopelessness because both society and the environment have been ruined. Main Street knows this first hand. Corporations themselves know this. Banks know this. Central banks know this. The people playing desperately fast and loose with easy money and derivatives and tax foolery also know this. So I don't think it is a stretch to expect a change in the institution we casually refer to as "money". It's a no-brainer, no? The wrong choice to my thinking is to trust Congress. That's a disgraceful track record if there ever was one – and nobody can "police" Congress even though they need it more than any other organization. Voting, as we are seeing as we comment, is a joke.

Susan the other , November 6, 2020 at 3:39 pm

I think the "deep state" is as hapless as the rest of us. Maybe more so at this point.

Gulag , November 6, 2020 at 4:41 pm

Does this summary of the capabilities of the NSA, by Barton Gellman, make it sound like its a hapless entity?

"By the years 2000 most of the world's communication traveled as pulses of light over strands of spun glass the width of a human hair, arranged in ribbons and then twisted into braids. Fiber optic cables revolutionized data in transit. Digital storage revolutionized data at rest. The NSA had to remake itself from the ground up. When it learned to master its new domains, it maintained a span of control over information that no human endeavor had ever aspired to reach."

gulag , November 6, 2020 at 1:23 pm

" what I meant as a public utility serving the public interest. Obviously who is going to control the state? And that really is the key. Will it be progressives that the control the state or will it be the one percent.

"We are a centrally planned economy but centralized planning is done on Wall Street not in Washington."

It would be really interesting to hear your personal description of the apparatus of power which you believe actually runs this country.

Would you include the system of mass surveillance centered in the National Security Agency and tightly coupled to the CIA, the FBI, the Pentagon as well as the monopoly power firms in Silicon Valley?

Would you include our present Federal Reserve System which has successfully integrated private financial markets into the practice of Government and has become a key entity used for the management of both the U.S. and the international economy?

Why should these cartel-like entities be allowed to exist if you actually want to reform our institutional structures to serve the average citizen?

Glen , November 6, 2020 at 2:42 pm

Yeah, watched this earlier and figured you would post it along with a transcript.

Basically it seems that without massive government involvement, we are not going to be able to revitalize our country. I knew that Michael Hudson paints it in some stark terms

What do you think of the ideas for fixes being pushed by these guys? They are proposing some creative stuff.

The Economics of Anger: How We Got a Rigged System (w/ Mark Blyth and Eric Lonergan)
https://www.youtube.com/watch?v=SGpaxYsLqiE

Sound of the Suburbs , November 6, 2020 at 5:14 pm

Banks – What is the idea?
The idea is that banks lend into business and industry to increase the productive capacity of the economy.
Business and industry don't have to wait until they have the money to expand. They can borrow the money and use it to expand today, and then pay that money back in the future.
The economy can then grow more rapidly than it would without banks.
Debt grows with GDP and there are no problems.
The banks create money and use it to create real wealth.

Tom Pfotzer , November 7, 2020 at 12:59 pm

The assertion that banks extending credit (creating money) results in additional wealth creation has been true in the past in the U.S., and it's true in some parts of the world today.

It is much less true in the U.S. today.

If it was still true here in the U.S., then the gargantuan increase in commercial and public debt over the past 2 decades should have resulted in a great deal of new wealth being created. That hasn't happened. Wealth has been transferred from the middle class toward the top of the economic pyramid, but there hasn't been any big-bang wealth creators (like electric motors, automobile, telecomm did, for ex) of late, and that hasn't been due to lack of "liquidity".

Middle class increases in wealth have recently occurred in several other countries lately, but the U.S. – in spite of all the credit creation – isn't one of them.

Why do you think the net world investment flows are generally moving to Asia and the developing world? Because that's where much of the new wealth is being created.

I'm not confident that Mr. Hudson's solution of "canceling debt" is going to work. After the cancellation, one must still answer the question of "where in the U.S. does one invest money to create new wealth?". Cancelling debt just transfers wealth from one player-set to the next. It doesn't create anything.

Let's solve the problem where it actually is: Middle class U.S. households need to create new wealth. What new capacity(ies) do HHs need in order to create wealth? Let's invest in that.

If we're going to do stim-bucks, let's get something for our (newly devalued) money.

McWatt , November 6, 2020 at 5:22 pm

I believe that what Michael is saying is that in our debt burdened economy the lenders have made bad loans. They have made loans to people who can not pay them back. Ultimately who are the lenders? The stock and bond holders.

In order to move the economy back to health the bond and stock holders need to take a haircut. They should not be bailed out by the government as they have been so many times before. If they don't take a haircut, then the debts stay in place, and so begins a slow decline that will eventually creep into everyone's economic lives.

You can't have a system where one group of people never loose and the other, larger group of people, always loose.

I think of one of my old neighborhood kids. Just a kid. 28 years old. He has $250,000.00 of medical debt,
credit card debt, student debt (never was able to graduate, so no degree) and runs from job to job until the creditors catch up to him and begin garnishment. I think this probably is not an uncommon story. If his debts are left in place, he will be in debt his entire life and when he is eligible for social security they will be garnishing that. And this whole scenario started with the discovery of a heart problem.

Michael Hudson calls this debt peonage. Which is true.

Others might call it criminal.

Telee , November 6, 2020 at 6:20 pm

One of Michael Hudson's basic positions is that a recovery for the Real economy (goods and services) is not possible unless the big banks are left to fail and debt from bad loans is restructured or forgiven.

politicaleconomist , November 6, 2020 at 8:35 pm

Wall Street forced Chicago to sell its sidewalks to put parking meters up to vastly increase the cost of driving around, in Chicago.

Not quite right. Mayor Daley made a deal of a lifetime to raise money thereby avoiding raising taxes in the short term. A Spanish firm bought most of the meters–they already were there–of course it raised parking meter rates, making the deal very lucrative for it and Daley t of thought well this way I won't have to raise the rates and take the blame for it. But Chicagoan–surprise, surprise–understand parking meters. He did not run again. It seems obvious that some people connected to Daley did well on that deal. Daley could hardly show his face after that and his successor, Emanuel, squelched all investigating into the deal. He himself had a difficult time gaining reelection and after the Laquan McDonald video was released did not run for a third term.

But he is one of a number of disgraced politicians you might see on Sunday morning TV.

John Anderson , November 6, 2020 at 10:46 pm

Nobody gets it! All this economy baloney is really about live people grabbing for as much as they can from their neighbor. Case in point: The stock market is a farce. It's all about absentee ownership. They don't care about the product-all they want is profit and that comes from the workers, who for the most part, do not have ownership (read stocks). It a particular stock doesn't pay, the stock owner goes somewhere else for money. Get it! The stock market is what it is, a crap shoot.
Not to mention the super high bill for military-and the super high bill for medical-and the super high bill for credit card debt-and the super high bill for private health insurance. What did I miss?
Jay and Hudson oughta know this. The one thing they seem to know is that the scheme cannot go on.

Jeremy Grimm , November 7, 2020 at 2:02 pm

Grabbing a couple of quotes from this post from Michael Hudson:
"Nancy Pelosi and the Democrats made a deal with the Republicans. They both agreed that they wanted to pay their respective campaign contributors, the financial sector, and the real estate sector. They were realistic. We can't save the economy. We can save the stock market. Let's put eight trillion into the stock market and the bond market, and let's save the banks. Let's have the Federal Reserve use some of this eight trillion to buy the packaged mortgage loans, the packaged oil industry loans, the loans that are going bad. So let's bail out the rich people. Neither the Republicans nor the Democrats really cared about the working-class."

"So instead of making the economy richer, the boom in stock prices and also the stock and bond market is making the economy more debt-strapped."

And the stock market is not a "crap shoot" if you own the Government and control the Fed.

Steven , November 7, 2020 at 2:20 pm

There is a twist to Wall Street's short-termism that is going to be a huge problem for Biden – or anyone else serious about doing something about climate change. People the world over, not just in the United States, can only think about wealth in terms of money. As long as the numbers keep going up in their 401ks they think they and the country are getting 'wealthy' – and don't need to worry about people who aren't. Wall Street and the West's financial capitalists have been off-shoring the West's real wealth so they can create ever-more money to keep stock and real estate prices rising.

The problem of course is what happens to those account balances when the needed 'creative destruction' bites, when monetarily wealthy people discover they can't buy what they need to enjoy life.

The pandemic SHOULD have been a lesson in what constitutes real wealth. It was China, not the U.S., that could produce everything needed to test its people and control the COVID 19 outbreak – because China had or could produce the wealth required to do it. But it probably won't be. People will still keep looking at their financial portfolios and assuming all is well – until the rest of the world, the people who possess or produce real wealth refuse to exchange it for yet more of the West's unpayable debts.

[Nov 07, 2020] The result of this election can be summarized with one phase "Strange non-death of neoliberalism."

Highly recommended!
Nov 07, 2020 | crookedtimber.org

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The result of this election can be summarized with one phase "Strange non-death of neoliberalism."

Joe Biden win is a win the tech companies, the big banks, Beijing, as well a PMC class.

likbez 11.07.20 at 5:37 pm (
)

It's entirely possible that Biden will be a 1 term President, and this is something that Democrats should have given some thought to. But they had other, sillier, things on their mind, and, well, here we are.

They don't care. It is return to business as usual -- classic neoliberalism with the classic neoliberal globalization on the agenda. And this is all that matter to them.

The people behind Joe Biden are Clinton classic neoliberals. Who ruled the country since 1990th with a well known result.

It is unclear what will happen in 2020 as Biden is a weak politician clearly unable of dealing with the current crisis the country faces. He is kick the can down the road type of guy.

And some start speculate that Dems the might get Tucker Carlson in 2024 as the opponent to Kamala.

(2) From an American perspective, Republican control of the Senate means that the Dems have limited scope to carry out grandiose economic and social experiments. Which I doubt Biden is much interested in anyway. (Incidentally, the idea that Biden or Copmala is in any way a "socialist" is yet another far-fetched MAGA fantasy just ask the folks at Chapo Trap House ). The idea that he came to power via fraud will not be quite enough to delegitimize the Biden Presidency – it's not like George W. Bush's narrow and contested victory over Al Gore in Florida remained much of an issue after a couple of months – but it certainly wouldn't hurt Republicans to have that as an additional rhetorical tool.

(3) Most consequentially, this substantially discredits American soft power and its "democracy promotion" efforts.

[Nov 07, 2020] Knowing what's wrong with the social system is different from being able to fix it: just because you are correctly diagnosed with stage 4 cancer it doesn't mean your doctor will be able to cure you. Sometimes, the problems are insoluble and terminal;

Nov 07, 2020 | www.moonofalabama.org

vk , Nov 7 2020 14:44 utc | 48

6) Americans know what's wrong with their economy. Both sides - Trump and Biden (I watched both political commercials) - know the USA must reindustrialize. They both know the debt is a problem. They both know they're relatively declining vis-a-vis China. The problem is that they can't solve their problems because those problems are problems of the capitalist system itself, not of who is in charge. If we read the documents of the end of the USSR, we can see a lot of intelligent people in charge correctly diagnosing what was wrong with the nation: the Soviets knew what was wrong with their system. But knowing what's wrong is different from being able to fix it: just because you are correctly diagnosed with stage 4 cancer it doesn't mean your doctor will be able to cure you. Sometimes, the problems are insoluble and terminal;

7) The frauds that happened in these elections are normal, inherent to the system and happen in every elections. I don't see the results overall as fake. Biden did receive more votes than Trump, and he deserves to be the new POTUS. That's who the American people are - look yourself in the mirror.

[Nov 07, 2020] Moral is is them, money is for us

Nov 07, 2020 | www.moonofalabama.org

malchik ralph , Nov 6 2020 19:23 utc | 118

Americans preach family values and are publicly prudish while privately consuming porn en masse

Americans preach capitalism and free market values while privately approving monopolization of vital sectors

[Nov 07, 2020] Both Democrat and Republican voters want much the same things and that is more collectivism. They want more collectivism on social matters and they want more collectivism on economic matters. They want society back from neoliberal capture

Nov 07, 2020 | www.moonofalabama.org

Altai , Nov 6 2020 13:28 utc | 19

This is the essence of it. When you actually drill down, the things both Democrat and Republican voters want much the same things and that is more collectivism. They want more collectivism on social matters and they want more collectivism on economic matters. They want society back.

Both the social 'conservatism' and economic 'progressivism' on offer tend to be welded to highly unpopular opposites. If you want immigration control (Which is both a social and economic issue but only framed in social terms effectively) and an end to insane post-modern SJW identity politics, you're obliged to also vote for people who will further deregulate the economy and give tax cuts to the wealthy. If you want social democrat politics you're obliged to vote for people who will further promote insane anti-social solidarity post-modern SJW politics and unending mass migration that are counter-productive, perhaps fatality so, to their social democratic agenda. (See AOC and her wishes for literal open borders and full Nordic-style social democrat welfare state)

The currency of a system of economic redistribution within a democracy is the willingness of those with resources to give to those without. The 'progressive' Democrats in the US are hooked on this ideal of expanding welfare but that doesn't empower the poor because they're depended on those with resources to support taxes to give them it. Industrial policy and immigration restriction (Both to decrease job competition and to make the recipients of resource redistribution more sympathetic to those with resources) to actually shift the real wealth and power in society is far more important.

A synthesis on at least immigration restriction and progressive economic policies like banking regulations, trade reform and industrial policy would be highly popular and is entirely open ground to take. In 2016 Trump became the first person to make that offer in stark form in 40 years and despite all the ammo the media and intellectual class were able to throw at him, he beat Hilary Clinton. Bernie and Corbyn both understand this synthesis and have spoken of it in the past but now are trapped in political apparatuses that make any mention of immigration and the economic and social interests of the native working class totally impermissible. Worse, they wed them to an ideal of ever expanding immigration that will rip apart any social solidarity needed for socialist or social democrat policies since the new group interests of the native working class will be battling the newcomers for social and economic space.

A great deal of American 'Libertarians' are actually quite community oriented and are infact just not in favour of their taxes being redistributed to outgroups whom they don't have any sense of social solidarity with. Ask them what should be done in their community and they start sounding like Bernie Sanders. They view the Federal government as an alien thing that will take from them and give to alien outgroups.People will say they're being 'duped' but I think those people just don't understand that people are born out of ethnic groups not class groups, ethnicity is more important and we might expect it to be so given human evolution.

[Nov 06, 2020] the Professional, Managerial class.

Nov 06, 2020 | www.moonofalabama.org

c1ue , Nov 5 2020 20:24 utc | 144

@vig #85
Sorry: PMC refers to the Professional, Managerial class.
It could be considered the Petit Bourgeoisie in the Marxist sense except these aren't shopkeepers. They're the middle managers, doctors, lawyers, MBAs, tenured professors, finance types and what not who are divorced from the actual hands-on labor.
They mostly work for large corporations and government/non-government institutions like state governments (at the higher levels), think tanks and nonprofits.

c1ue , Nov 5 2020 20:37 utc | 148

@vig #85
And to clarify further: there is a professor at Stanford University named Victor Davis Hanson. He is both a tenured professor in early Western history (Greek) and also a farmer - 4th or 5th generation in the San Joaquin valley in California.
What Hanson has talked about at length was that the urban elite - the people in the cities and along the East and West Coasts of America - have been enjoying a different reality than the rest of the country.
In particular, the opening up of the American economy to China, India and the rest of the world has created new markets for companies like Boeing, Facebook, GE and the like - which benefits these areas and demographics.
However, this same action has also exposed American farmers, manufacturers, non-MBA/PhD/Master's/etc to low priced labor and mercantilist economic policies in these other countries.
The example Hanson uses is his own farm. In the 1980s, the price for raisins was $1200/ton and the market was largely in Europe.
With the advent of the EU, Greek farmers got subsidies from the EU such that they took over the EU market for raisins. The price for raisins fell to $400/ton.
Hanson doesn't say that this could/should be prevented; what he says is that it is a travesty that there were no voices in the US at least pushing back against these obviously anti-competitive economic policies. The lack of such voices meant that the forces of globalism could run rampant and destroy entire sectors of the American economy at amazing speed. In particular, the US leadership = oligarchs plus PMC class chose to sell out the rest of the country in order to enrich itself.
This is 100% obvious to anyone who looks at the details of what has happened in the last 30+ years: China went from 6% of the US GDP in 1984 to near parity (or beyond) in purchasing power terms today.

[Nov 06, 2020] If neoliberal state collapses what will come next?

Nov 06, 2020 | www.moonofalabama.org

Vasco da Gama , Nov 5 2020 19:26 utc | 136

@vinnieoh | Nov 5 2020 17:12 utc | 96

But I don't believe we are a nation of children and idiots. I believe the political class is completely corrupt and does not serve its citizens, but they are not us; they have been captured by the wealthy and the powerful. A few observations. I saw the long lines on Tuesday and how orderly and patient those in line were, socially distancing and wearing masks, and those were - in the main - Trump voters. This morning I took a little drive around my locale, and like magic all of the yard sign litter - like an aggressive fungus - was almost completely gone. Halle-fuckin-leujah! Seems that everyone here, as partisan as they may be, really want to put this season behind them.

I understand the desire by non-Americans and expats to see rioting, violence, and societal collapse here in the US. To be expected after decades of crimes against humanity that are globe-spanning. But, be very careful of what you wish for: that sort of breakdown can only result in a fascist totalitarian state, and if you think that the US can't bring more pain than has already been caused, you may find yourself very mistaken.

Thanks for both the first hand report and the warning. Hopefully what you have witnessed was less anecdotal, more generalized. Regarding the warning I would replace all the misguided wishes you mentioned as the collateral of an actual expectation that a Trump administration would have spoilt the opportunity for the US Outlaw Empire to bring further global misery. Your point stands of a system breakdown potentially bringing a fascist totalitarian state...

As an external observer I am since recently inclined to recognize that a 2020 Biden election would fulfil the role the 2016 Trump election represented beyond the domestic purpose. Trump brings down Empire's Mask, beyond the ability of their true political representatives to sanitize it back globally. Trump being the industrial air-bag, and Biden eventually whizzing the Empire in its, hopefully "soft" but, inevitable crash-landing. Where Trump Would Not, Biden Can Not. Wishes..

In truth I have no idea, that's USAians mess to clean up, not mine.

[Nov 06, 2020] USA Hegemony and Decline

Mar 01, 2010 | www.eurasia-rivista.org

Issue 3/2010 of the review of Geopolitics "Eurasia", entitled USA: HEGEMONY AND DECLINE , has been released. This 288-page volume contains 24 articles about the USA, a still-hegemonic power in decline, on the scene of the transition from unipolarism to the new multipolarist order. Here follows a list and a short synthesis of each article.

Tiberio Graziani, USA, Turkey and the crisis of the western system

After history put an end to the unipolar moment, the western system led by USA seems to have entered an irreversible crisis. The economic and financial downfall and the loss of a secure pillar of the western geopolitical scene like Turkey mark the end of the US driving force. The USA, today, have to take an epochal decision: either shelving the project of world supremacy, which means sharing decision-making regarding international politics and economics with other global actors, or insist on their supremacy plan and even risk their survival as nation. One or the other will be motivated by the relationships that will be built, on the middle and long term, between the lobbies which are conditioning American foreign policy and by the evolution of the multipolarist process.

T. Graziani is managing editor of "Eurasia".

Fabio Falchi, The mirror of knowledge. Giorgio Colli and Eurasianism

This essay aims to show, also through a short exposition of Giorgio Colli's theoretical philosophy, not only that he has the merit, thanks to his talent of "pondering philologist", to have caught the deep relation between mysticism and logic in the "Greek knowledge", but above all that the way he is interpreting the thought of the "pre-Socratic" – an interpretation characterized by several and meaningful references to the Indian philosophy – is extremely important for the Eurasianism, if it's true that "Eurasia" is in the first place a "spiritual concept". In this perspective, it's not important that Colli cannot be defined an "Eurasiatist" or the fact that probably he himself had refused to define himself this way. What matters is the path pointed out by his philosophical speech, so that it's possible to leave behind obsolete and "incapacitating" dichotomies.

F. Falchi is a contributor to "Eurasia".

Phil Kelly, Geopolitics of the United States

The scope of this essay is to identify the different and typical elements of the traditional US geopolitics. In its path is reflected on the most relevant spatial characteristics in order to delineate the traditional aspects of North American geopolitics, rather than focusing on current international affairs; in spite of this, it comes to conclusion with some observations about the present American and global geopolitics.

P. Kelly is teaching at the University of Emporia (Texas, USA) and member of the Scientific Committee of "Eurasia".

Daniele Scalea, How an "empire" has risen (and how it will crumble soon)

Today's United States, in origin, were an united group of colonies of a small underdeveloped island; nevertheless, in a few centuries, they have become the first and the only world superpower. In this essay are retraced the geopolitical and strategic reasons that led to the rise of the original thirteen colonies, to their independence and expansion in North America; the rise of the USA and their informal empire are analyzed and how the passage from isolationism to hegemonism, that was not ineluctable, is leading them to lose it.

D. Scalea is editor of "Eurasia".

F. William Engdahl, The USA's geopolitical position today

At the end of the first decade of the 21th century it's time to locate the United States in the political, economic and above all geopolitical world context. It's clear to every impartial observer that the emerging giant, proclaimed in 1941 by Henry Luce, "the Time-Life" publisher, as the dawn of the "American Century", is today, in 2010, a nation and a power whose foundations themselves crumble. In this short essay are analyzed the particular nature of this disintegration and its implications.

F.W. Engdahl is associate director of "Global Research" and member of the Scientific Committee of "Eurasia".

Fabio Mini, Projects and debts

The Americans are no more able to recognize their deficiencies and vulnerabilities: they act as if they still controlled the entire world, when in reality they have lost great part of their autonomy relating to multinationals which control the economy and to national or transnational bodies they are indebted to. To the debt financing must be added the political debts, acquired to nations which are not secure thanks to the US politics of force: Iraq, Afghanistan, Israel, Palestine, Somalia, Rwanda and even Europe. This essay explains how power is the destroying drug of the USA, and how the "New American Century" has come to an end before coming to life.

F. Mini is a retired Lieutenant General of the Italian Army, he led the KFOR and the NATO's Command Allied Forces Southern Europe".

Eleonora Peruccacci, The evolution of USA-Russia relationships after the downfall of the bipolar system

The idea – to which Keohane already drew attention – that power is now based on the influence of ideas, on using cleverly skills like persuasion and cooptation, on the ability to manipulate mass communication as well, rather than on the traditional attributes of military force and wealth, is useful for the analysis of this essay, in which it is tried to comprehend how, after the end of the bipolar system, the relationships between the two ex world superpowers, USA and Russia, developed and changed, going through the stages of 4 treaties on nuclear disarmament.

E. Peruccacci, MA in International Relations, contributes to "Eurasia".

Spartaco Alfredo Puttini, China, the sea and the United States: the Sino-American naval antagonism

The development of a modern military fleet in the People's Republic of China has given rise to serious concerns in Washington and adds an element of tension to their relations. On the horizon beckons the danger of a naval antagonism between the two giants that could represent one of the more serious and meaningful elements for the international order of the 21th century. In this essay is talked about the Chinese willingness to develop marine force, about the stages of the fleet modernization, about the importance that Sino-American naval antagonism can assume in the near future.

S.A. Puttini, MA in History.

Chiara Felli, A miracle for Obama's "new beginning"

Israeli-American relations seem to be at a crossroads again: new negotiations in order to achieve the much desired peace in Near East hold the balance of power. In Washington, the atmosphere is tense, in contemplation of twelve months of negotiations the danger of a possible immediate bankruptcy outcome is reduced but concerns about the current state of the international comparison raise. Will the USA be finally able to play on their strong position as influential mediators? Does Israeli regional isolation risk worsening following the blind pursuit of nationalistic strategies? Are we really close to the "great compromise" and to the calm after a decade-long storm?

C. Felli, MA in International relations, contributes to "Eurasia".

Francesco Brunello Zanitti, American Neoconservatism and Israeli Neo-revisionism: a comparison

The G.W Bush Jr. Presidency has been strongly influenced by a political movement, commonly known as Neoconservatism, which started at the beginning of the '60s and was already significant during the Ronald Reagan Presidency. The neoconservatives have inspired in particular the recent North American politics in the Near East. The last decade, concerning Israeli politics, has been characterized by the strengthening of the right-wing party, the Likud, which, since its origins, has been not prone to any form of compromise with the Arab world. This essay offers a comparison between American Neoconservatism and Israeli Neo-revisionism, identifying various similarities.

F.Brunello Zanitti, MA in History of society and contemporary culture.

Julien Mercille, The fight against drugs in Afghanistan: a critical interpretation

This article offers a critical interpretation of the "fight against drugs" waged by the United States in Afghanistan since 2001, in contrast to the conventional view proposed by some of the most representative authors. While the conventional interpretation takes for granted that the US are leading a fight in Afghanistan against drugs in order to reduce their consumption in the West and to weaken the Taliban, who are closely linked to narcotics traffic, in this article it's argued that in fact there are few signs from Washington of a real and concrete struggle against drugs . The rhetoric of the fight against drugs is largely motivated by the need to justify military intervention in Afghanistan and the fight against insurgent groups opposing to American hegemony in the region, rather than by a genuine concern about drugs themselves.

J. Mercille is Professor at the National University of Ireland.

Matías Magnasco, Geopolitics of the United States in the Southern Cone

The South American region is nowadays a geostrategic scenario of great importance and will grow in importance in the future because of the race for raw materials (oil, gas and drinking-water) and the rise of Brazil as a regional and world power. South America must look with concern to US withdrawal from those difficult regions, such as Iraq and Afghanistan, and from those where Russia and China have virtually overcome their influence, because this reopens the possibility of looking back at their "backyard" and their "mare nostrum" ( the Caribbean Sea).

M. Magnasco is Director of the Argentine Centre of International Studies.

Jean-Claude Paye, The euro crisis and the transatlantic market

The offensive against the euro, implemented by the financial markets during the months of April and May 2010, is not simply an episode in the economic war between the two continents. It is indeed the symptom of a geopolitical change.

The American initiative aimed to weaken the EU was led with the participation of European institutions themselves, that sacrificed euro in order to recover the Greek debt. This convergence confirms the choice of both protagonists which was already made to integrate the EU into a great future transatlantic market.

J.-C. Paye is a sociologist and essayist.

Ivan Marino, "Nabucco" versus "South Stream"

The US-backed Nabucco pipeline is a choice which sprang from political and economic reasons, and, in substance, aims to avoid the Russian territory and consequently to contrast the interests of Moscow; but the choice of "Nabucco" may be dangerous for the same energy safety of European Union.

Italy's choice of supporting the "South Stream" has a strategic and objective value. The essay evaluates the strategic importance of this option on the long-term in the dialogue between EU and Russia.

I. Marino coordinates the Observatory on the Constitutional Political System of the Russian Federation.

Fabrizio Di Ernesto, US and NATO bases in Europe

More than 60 years after the end of World War II, Europe struggles to regain its political and military autonomy. This is mainly due to the forced occupation set on by USA through NATO, the military alliance started in 1949 and that with the passing of time has become the real armed wing of the Pentagon. During the years of the Cold War Washington justified this presence with the need of defending its interests against possible attacks of the Red Army and of the Warsaw Pact. Now that this pretext is becoming ever more anachronistic, the White House continues to support the need for this forced militarization hiding behind the scarecrow represented by Islamic terrorism. This presence also leads to various problems, summarized in this essay.

F. Di Ernesto is a journalist and essayist.

Stefano Vernole, The strange story of the "International Money Orders"

According to some sources, during the first months of 1992 the U.S. government developed a sophisticated financial-economics operation, using US taxpayers' funds, for secret aims. The money, nominally allocated for a "humanitarian" operation in Bosnia and Herzegovina, would have been mainly used to finance Bill Clinton's election campaign and to pay debts acquired by the Saudi financier Adnan Kashoggi to the procurement office of the JNA (Yugoslav People's Army), but later it was put back in circulation to be used in the most various financial-economics operations.

S. Vernole is editor of "Eurasia".

Tomislav Sunic, In Yaweh we trust: the "divine" US foreign policy

The North American aspiration to "guarantee the democracy in the world " is above all originated by the biblical message. Whatever many European critics of US may say, US military interventions have never had as their sole purpose economic imperialism, rather the desire to spread the U.S. democracy all over the world. Anyone who dares to defy the US military, incurs the risk of being declared out of humankind, or at least of being branded as terrorist. Once someone is declared a terrorist or out of the human race, it's possible to dispose of a person or of a nation at one's pleasure. The ideological element in the history of US foreign policy is described in this essay, a revised version of a chapter, named after it, of the book Homo Americanus: Child of the Postmodern Age (2007).

T. Sunic was Croatian diplomat and University Professor in the USA.

Kees van der Pijl, Transatlantic ideology and neoliberal capitalism

In this essay we deal with three issues: the first concerns the origins of western ideology, an ideology marked by possessive individualism, free enterprise and intensive nature exploitation and that, with zeal of protestant missionary, claims universal validity for these principles. After that, we observe how neo-liberalism has emerged as the most radical western ideology and allowed capitalism to become a machine scam into which the world economy of the last thirty years has been drawn and that just now has suffered a setback.

Finally, some lines of development are drawn, through which Ukraine, and perhaps Russia, Belarus, Kazakhstan and others, could break with the present strategy of slavish adaptation to the neoliberal economy, which has damaged them so much, and stop to absorb the western ideology so different from their traditions, to implement a common strategy that combines their unique experience with the form of a multinational State and with elements of planned economy, whose strengths and weaknesses they know better than anybody else.

K. van der Pijl is Professor at the University of Sussex.

Paolo Bargiacchi, Is international law really law? A critique to John Bolton's negationism

In the US the (minority) idea that the international law does not exist and the (most common) one that customary international rules only bind States that accept them find a common root in the improper comparison between International context (and International law) and internal context (Internal law). This comparison, in turn, is direct consequence of the Austinian positivism, that, not catching the autonomy of the political and juridical international context compared to the domestic one, mistakenly uses logics, methodologies and categories of internal law to analyze the international law. An example of this modus procedendi comes from J. Bolton, who wonders if "Is There Really "Law" in International Affairs?" and concludes that "International law is not law". In this essay a general-theoretical and empirical critique of his thesis is developed.

P. Bargiacchi is Professor at the University Kore of Enna.

Alessandro Lattanzio, US nuclear forces

U.S. strategic forces, that since 1990 are no longer the backbone of US Army, a role now appertaining to the force projection (aircraft carrier, airborne troops and marine divisions, tactical air force) have undergone a significant downsizing in quality and above all quantities. But this reduction has been sold successfully at the table of international negotiations about nuclear disarmament. With the recent ratification of the START II Treaty, US strategic forces are kept on 500 ICBMs single-warheads, 14 SSBNs each carrying 24 SLBMs, and finally 96 strategic bombers. The budget deficit, the cost of Iraq and Afghanistan wars, the priorities for other programs, including the so-called theatre ballistic missile (THAAD), and the US financial-economic crisis will probably stop the last modernization programs of the U.S. strategic arsenal.

A. Lattanzio is editor of "Eurasia".

Claudio Mutti, Pietro Nenni against the Atlantic Pact

Interjecting into the parliamentary debate in accordance to the Italian democracy rules for enter the NATO, the secretary of the PSI (Italian Socialist Party) pointed put how the inclusion of Italy among the countries bordering the Atlantic was a violation of the basic elements of geography and history. He also contested the political justifications of this accession: partnering with the American superpower, Italy, which "compared to the US is like San Marino compared to Europe", instead of securing her independence would have further reduced her sovereignty, already harshly limited by the international treaties imposed by the winners of the Second World War.

C. Mutti is editor of "Eurasia".

Erika Morucci, 1991-2003: rehearsal of a superpower

In the twenty years since the first Gulf War to the present, different administrations came one after the other at the White House, giving different directions to American foreign policy. Apart from that, these were crucial years of a new historical course, that after the Cold War has opened up a reality whose facets were hidden for a long time and was fed by the iron curtain that divided the world. For the US widened its perspectives: they behaved as if they knew they can reach for primacy, pushing it to the manic search for global power. The multipolarity on the international scene has strongly emerged with the presence of other actors, including Russian, Chinese, European, and so the perspective is now to defend their lead and not lead the world.

E. Morucci, MA in International Relations.

Antonio Grego, Interview with Robert Pelo

Roberto Pelo is the director of the Moscow office of Italian Institute for Foreign Trade (ICE) and coordinator of the ICE office-network in Russia, Armenia, Belarus and Turkmenistan.

Antonio Grego, Interview with Livio Filippo Colasanto

Livio Filippo Colasanto is the first Director-General of RusEnergosbyt-Enel.

[Nov 03, 2020] Elections as a continuation of color revolution run by intelligence agencies against Trump

Notable quotes:
"... It is almost as if the Deep State vampire squid would prefer to bring the Republic that threatens it to 3rd world status in order to protect the oligarchy. ..."
"... Cheating has always happened in elections, by both sides. 2016 was unprecedented in the use of the intelligence agencies to thwart the Constitution. This election cycle the MSM has shown itself for what it is with it's large scale censorship and blackouts - totalitarian. Cheating has always happened in elections but this 2020 election cycle the Democrats will take cheating to another level - to the STRATOSPHERE. ..."
Nov 03, 2020 | www.moonofalabama.org

Paul Damascene , Nov 3 2020 20:13 utc | 52

It is almost as if the Deep State vampire squid would prefer to bring the Republic that threatens it to 3rd world status in order to protect the oligarchy.


Down South , Nov 3 2020 19:43 utc | 43

Trump is going to win it. They only question is by how much.

The cities are not boarding up because they expect Trump to lose. They're boarding up because the left will not accept a Trump win under ANY circumstance.

Hillary Clinton has urged Democratic presidential nominee Joe Biden to "not concede under any circumstances," in November's presidential election, as she believes the results are "going to drag out," because of mail-in voting.

https://www.google.co.za/amp/s/www.independent.co.uk/news/world/americas/us-election/hillary-clinton-joe-biden-donald-trump-us-election-2020-a9688361.html%3famp


Rutherford82 , Nov 3 2020 20:14 utc | 53

@32 EoinW

Voting in the U.S. is manipulated at all levels. Fortunately the results probably don't matter due to the financial stranglehold on politics so, except for the those employed by the political candidates, it isn't worth losing sleep over. But if there was a functional government in place then it would be a big deal.

The truth is that the facade of the Democrats is falling while the Republican brand has not changed very much in a long time. Democratic support is an all time low and it is getting harder and harder to spin that brand to a society which is not stupid enough to believe everything anymore, especially in the face of two consecutive Presidential elections rife with internal DNC corruption.

The donors really just want the electorate divided, so any real vote manipulation is inconsequential in the scheme of things if all policy trends in the direction of finance and that sort of thing.

I predict you will see more scandal and spectacle over elections on television and every issue will have its emotional appeal magnified to try and bolster support for a feckless Left, while policy continues to feel like it was written by Count Dracula. Ultimately, violence will be stoked by news media in this subtle way until the "violent left" is used as an excuse to enact law and order policies aimed at shutting down protests of all types.

William Gruff , Nov 3 2020 21:02 utc | 71

JohnH @65

In 2016 the establishment knew their pick was going to win by a landslide. They had absolute certainty, so why bother with the extra work of cooking the tallies? After all, how could many of the American people possibly vote for the joke candidate who was reveling in playing the part of the Great Orange Ogre? It was inconceivable.

I am sure the establishment does have its contingency plans activated this time, but things are a little different now. Real discussions of election fraud (as opposed to voter fraud) were far outside the Overton Window back in 2016. Now the risk has been raised by the establishment itself, validating the possibility of widespread election tampering and making it part of the national discourse. Suspicions and evidence of tampering will be impossible to dismiss as "conspiracy theory" , so the establishment's freedom of action has been significantly constrained by their own accusations against Trump. As a consequence, they may be hesitant to doctor the vote counts as much as they would like.

dee , Nov 3 2020 21:05 utc | 72
Really funny to see people peddling their favorite pronostics on the eve of being probably proven dead wrong ...
winston2 , Nov 3 2020 21:06 utc | 73
70 He has been under their control from the chocolate cake surprise murder of that 24 year old Syrian radar
tech,no going back once you become a member of the war criminals club.
teri , Nov 3 2020 21:10 utc | 74
Wait, so Trump is the one who is sending armed poll watchers out to the states, stopping the post office mailings, already suing in court for ballots to be tossed out, actively telling supporters that any votes not counted by 8 pm tonight are invalid, telling his followers that Democrats are such "socialists and communists" that they are enemies of the state, and he is the one talking about having all his political opponents (and some of his own administration) arrested right after the election, but somehow it is the spineless Democrats who allow all this shit to go on without much complaint that are the ones trying to instigate a color revolution in the US.

Everyone is completely gonzo, inside out and upside down. And now even MoA.

William Gruff , Nov 3 2020 21:18 utc | 75
teri @74: "Russia! Russia! Russia!"

Come on, fess up, you've been chanting that for the last four years. Don't lie and say it ain't so.

The Dims have been gonzo since they turned on their TVs on the morning of November 9, 2016 to see how much Clinton had won by. They lost their minds then and have not yet found them again.

Paul Damascene , Nov 3 2020 21:19 utc | 76
Karlof1 @59
Thanks for giving this some thought.
Saracen's head , Nov 3 2020 21:29 utc | 77
It's very one sided to focus on Biden team's color revolution while denying Trump's. Both of them are evident. But, since media attention on Trump's had been overwhelming and quite muted on Biden's, let's count this as a venial sin...
Where this post is right is that it is the after struggle that matters. How far it goes and the damage it inflict on US' standing and power will reverberate everywhere.

In the end someone (not necessarily Trump or Biden) will win and will have to patch up this country on the rubble of the coming disaster. The question of how to reunite the USA after that, on what basis, for what purpose. For instance, during the election season, a lot of commentators argued that opposition to China was the only common ground in foreign policy.
China's patience at political, economic and tech attacks by the US is running to its end. The next "leader of the free world" will most likely have a very narrow window of opportunity to bring the relationship back to normalcy before China retaliates.

Old and Grumpy , Nov 3 2020 21:29 utc | 78
Democrats are so cute. First you had your divisive resistance in 2016, but the divisiveness wasn't your fault. Then you moved on to Russia, Russia, Russia. I get the Clinton machine and bipartisan cronies had unfinished business in the raping of post Soviet Russia. Damn that Putin for demanding legitimate tax payment. I always thought you guys loved taxing the rich. Guess not, but the bigger question are you getting any kickback from the global predatory crony system? Probably not. Now it is Trump won't leave. He will. Trump will suppress the vote. No he wants a big turnout. Here in PA our dear AG Josh Shapiro has said a couple days ago that Biden has the early votes to win the state. Kinda sounds like Josh plans on suppressing election day voting...no? Why can't you just win the vote with your positions? Why can't you accept when people don't like your positions? More importantly when did you decide to hate working class people, especially the white ones? They use to be your base. Everyone please stay safe from the deep state's planned insanity.
Paco , Nov 3 2020 21:38 utc | 79
Posted by: William Gruff | Nov 3 2020 21:02 utc | 71

High time to send observers, otherwise the international community shall not recognize the legitimacy of the results.... A US Guaidó is needed, then the MSM can tell the world that over fifty countries call him president,

JohnH , Nov 3 2020 21:38 utc | 80
Gruff@71: The problem is that you have a perfect situation: undercover services and a secret activity with no auditing possible in many cases. I'm sure that the intelligence services understand full well what the margin of error is, and know how to work within it in the places where it can tip the balance.

Heck, they might even be the secret owners of many of these voting machine manufacturers.

In addition, we know that some intelligence services went for Hillary in 2016–former CIA Director Mike Morrell helped kick off RussiaGate with an op-Ed in 2016. CIA Director John Brennan led the interagency charge against Trump's unproven collusion. Now Trump has vowed to make a lot of heads roll if he wins.

Lots of motivation and lots of secret tools, along with a perfect opportunity...

EoinW , Nov 3 2020 23:18 utc | 101

Old and Grumpy @ 78

They don't have any positions! They are the Democratic Party, therefore entitled to rule America forever. What support they have is from the Looney Left who, spoiled by winning every issue in the culture war, will throw a temper tantrum any time they don't get their way. Because they get there way practically all the time, they freak out if you just look at them the wrong way. No wonder we've had a 4 year meltdown since Trump appeared on the scene. And they'll double down on their hissy fit as we begin another 4 years.

Funny, I used to be left leaning. Certainly could find common ground with Liberals on many issues. Now all you get from the activists and the left wing media is a monotonous virtual signal.

librul , Nov 3 2020 23:25 utc | 103

Cheating has always happened in elections, by both sides. 2016 was unprecedented in the use of the intelligence agencies to thwart the Constitution. This election cycle the MSM has shown itself for what it is with it's large scale censorship and blackouts - totalitarian. Cheating has always happened in elections but this 2020 election cycle the Democrats will take cheating to another level - to the STRATOSPHERE.

Trump and his people saw it coming and so made attempts to thwart the NEW BEFORE SEEN OUTRAGEOUSLY MASSIVE cheating by Democrats and their allies.

Some see Trump's efforts as "distorting the electoral process" - what a laugh!!

WHAT A LAUGH !!!

[Nov 02, 2020] Archbishop Says Trump Is Only One To Save Humanity From 'The Great Reset'

Nov 02, 2020 | www.zerohedge.com

He is deeply mistaken ;-)

The Italian archbishop best known for confronting Pope Francis over the Vatican's willful blindness to priests who abuse boys has written a letter in which he lashes out at the "global elite", prompting some to accuse him of sympathizing with the "QAnon" movement of conspiracy theorists.

The letter, penned by Archibishop Carlo Maria Vigano, formerly the Vatican's ambassador to the US, attacks a shadowy "global elite", that is plotting a "Great Reset" intended to undermine "God and humanity".

This same group, the archbishop argued, is also responsible for the lockdowns that have restricted movement and freedom around the globe, eliciting protests in many European capitals.

"The fate of the whole world is being threatened by a global conspiracy against God and humanity," Viganò wrote in the letter, which comes just days before the US election, which the archbishop wrote was of "epochal importance."

"No one, up until last February," Viganò writes, "would ever have thought that, in all of our cities, citizens would be arrested simply for wanting to walk down the street, to breathe, to want to keep their business open, to want to go to church on Sunday. Yet now it is happening all over the world, even in picture-postcard Italy that many Americans consider to be a small enchanted country, with its ancient monuments, its churches, its charming cities, its characteristic villages." Viganò adds: "And while the politicians are barricaded inside their palaces promulgating decrees like Persian satraps, businesses are failing, shops are closing, and people are prevented from living, traveling, working, and praying."

Working to protect the world from this group of elites seeking to recast society in a secular, totalitarian model, Viganò portrays President Trump as "the final garrison against the world dictatorship". Viganò cast Trump's opponent, Vice President Joe Biden, as "a person who is manipulated by the deep state."

Analysts who monitor "QAnon" conspiracy theories and their spread online warned the mainstream press that the letter had been widely discussed on various QAnon message boards, and had been disseminated in languages including Portuguese, Spanish, French, German and Italian, according to Yahoo News.

Over the summer, Trump tweeted an earlier letter penned by the archbishop, and encouraged his supporters to read it.

https://platform.twitter.com/embed/index.html?dnt=false&embedId=twitter-widget-0&frame=false&hideCard=false&hideThread=false&id=1270842639903006720&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Farchbishop-warns-trump-must-save-humanity-global-conspiracy-against-god&siteScreenName=zerohedge&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890

In the past, Viagnò has accused Pope Francis of sweeping the child abuse crisis under the rug, and moving to protect homosexual priests, part of a "homosexual current" flowing through the Vatican.

Read the full letter below:

* * *

DONALD J. TRUMP

Sunday, October 25, 2020

Solemnity of Christ the King

Mr. President,

Allow me to address you at this hour in which the fate of the whole world is being threatened by a global conspiracy against God and humanity. I write to you as an Archbishop, as a Successor of the Apostles, as the former Apostolic Nuncio to the United States of America. I am writing to you in the midst of the silence of both civil and religious authorities. May you accept these words of mine as the "voice of one crying out in the desert" (Jn 1:23).

As I said when I wrote my letter to you in June, this historical moment sees the forces of Evil (read neoliberalism) aligned in a battle without quarter against the forces of Good; forces of Evil that appear powerful and organized as they oppose the children of Light, who are disoriented and disorganized, abandoned by their temporal and spiritual leaders .

Daily we sense the attacks multiplying of those who want to destroy the very basis of society: the natural family, respect for human life, love of country, freedom of education and business. We see heads of nations and religious leaders pandering to this suicide of Western culture and its Christian soul, while the fundamental rights of citizens and believers are denied in the name of a health emergency that is revealing itself more and more fully as instrumental to the establishment of an inhuman faceless tyranny.

A global plan called the Great Reset is underway. Its architect is a global élite that wants to subdue all of humanity, imposing coercive measures with which to drastically limit individual freedoms and those of entire populations. In several nations this plan has already been approved and financed; in others it is still in an early stage. Behind the world leaders who are the accomplices and executors of this infernal project, there are unscrupulous characters who finance the World Economic Forum and Event 201, promoting their agenda.

The purpose of the Great Reset is the imposition of a health dictatorship aiming at the imposition of liberticidal measures, hidden behind tempting promises of ensuring a universal income and cancelling individual debt. The price of these concessions from the International Monetary Fund will be the renunciation of private property and adherence to a program of vaccination against Covid-19 and Covid-21 promoted by Bill Gates with the collaboration of the main pharmaceutical groups. Beyond the enormous economic interests that motivate the promoters of the Great Reset, the imposition of the vaccination will be accompanied by the requirement of a health passport and a digital ID, with the consequent contact tracing of the population of the entire world. Those who do not accept these measures will be confined in detention camps or placed under house arrest, and all their assets will be confiscated.

Mr. President, I imagine that you are already aware that in some countries the Great Reset will be activated between the end of this year and the first trimester of 2021. For this purpose, further lockdowns are planned, which will be officially justified by a supposed second and third wave of the pandemic. You are well aware of the means that have been deployed to sow panic and legitimize draconian limitations on individual liberties, artfully provoking a world-wide economic crisis. In the intentions of its architects, this crisis will serve to make the recourse of nations to the Great Reset irreversible, thereby giving the final blow to a world whose existence and very memory they want to completely cancel. But this world, Mr. President, includes people, affections, institutions, faith, culture, traditions, and ideals: people and values that do not act like automatons, who do not obey like machines, because they are endowed with a soul and a heart, because they are tied together by a spiritual bond that draws its strength from above, from that God that our adversaries want to challenge, just as Lucifer did at the beginning of time with his "non serviam."

Many people – as we well know – are annoyed by this reference to the clash between Good and Evil and the use of "apocalyptic" overtones, which according to them exasperates spirits and sharpens divisions. It is not surprising that the enemy is angered at being discovered just when he believes he has reached the citadel he seeks to conquer undisturbed. What is surprising, however, is that there is no one to sound the alarm. The reaction of the deep state to those who denounce its plan is broken and incoherent, but understandable. Just when the complicity of the mainstream media had succeeded in making the transition to the New World Order almost painless and unnoticed, all sorts of deceptions, scandals and crimes are coming to light.

Until a few months ago, it was easy to smear as "conspiracy theorists" those who denounced these terrible plans, which we now see being carried out down to the smallest detail. No one, up until last February, would ever have thought that, in all of our cities, citizens would be arrested simply for wanting to walk down the street, to breathe, to want to keep their business open, to want to go to church on Sunday. Yet now it is happening all over the world, even in picture-postcard Italy that many Americans consider to be a small enchanted country, with its ancient monuments, its churches, its charming cities, its characteristic villages. And while the politicians are barricaded inside their palaces promulgating decrees like Persian satraps, businesses are failing, shops are closing, and people are prevented from living, traveling, working, and praying. The disastrous psychological consequences of this operation are already being seen, beginning with the suicides of desperate entrepreneurs and of our children, segregated from friends and classmates, told to follow their classes while sitting at home alone in front of a computer.

In Sacred Scripture, Saint Paul speaks to us of "the one who opposes" the manifestation of the mystery of iniquity, the kathèkon (2 Thess 2:6-7). In the religious sphere, this obstacle to evil is the Church, and in particular the papacy; in the political sphere, it is those who impede the establishment of the New World Order.

As is now clear, the one who occupies the Chair of Peter has betrayed his role from the very beginning in order to defend and promote the globalist ideology, supporting the agenda of the deep church, who chose him from its ranks.

Mr. President, you have clearly stated that you want to defend the nation – One Nation under God, fundamental liberties, and non-negotiable values that are denied and fought against today. It is you, dear President, who are "the one who opposes" the deep state, the final assault of the children of darkness.

For this reason, it is necessary that all people of good will be persuaded of the epochal importance of the imminent election: not so much for the sake of this or that political program, but because of the general inspiration of your action that best embodies – in this particular historical context – that world, our world, which they want to cancel by means of the lockdown. Your adversary is also our adversary: it is the Enemy of the human race, He who is "a murderer from the beginning" (Jn 8:44).

Around you are gathered with faith and courage those who consider you the final garrison against the world dictatorship. The alternative is to vote for a person who is manipulated by the deep state, gravely compromised by scandals and corruption, who will do to the United States what Jorge Mario Bergoglio is doing to the Church, Prime Minister Conte to Italy, President Macron to France, Prime Minster Sanchez to Spain, and so on. The blackmailable nature of Joe Biden – just like that of the prelates of the Vatican's "magic circle" – will expose him to be used unscrupulously, allowing illegitimate powers to interfere in both domestic politics as well as international balances. It is obvious that those who manipulate him already have someone worse than him ready, with whom they will replace him as soon as the opportunity arises.

And yet, in the midst of this bleak picture, this apparently unstoppable advance of the "Invisible Enemy," an element of hope emerges. The adversary does not know how to love, and it does not understand that it is not enough to assure a universal income or to cancel mortgages in order to subjugate the masses and convince them to be branded like cattle.

This people, which for too long has endured the abuses of a hateful and tyrannical power, is rediscovering that it has a soul; it is understanding that it is not willing to exchange its freedom for the homogenization and cancellation of its identity; it is beginning to understand the value of familial and social ties, of the bonds of faith and culture that unite honest people. This Great Reset is destined to fail because those who planned it do not understand that there are still people ready to take to the streets to defend their rights, to protect their loved ones, to give a future to their children and grandchildren. The leveling inhumanity of the globalist project will shatter miserably in the face of the firm and courageous opposition of the children of Light. The enemy has Satan on its side, He who only knows how to hate. But on our side, we have the Lord Almighty, the God of armies arrayed for battle, and the Most Holy Virgin, who will crush the head of the ancient Serpent. "If God is for us, who can be against us?" (Rom 8:31).

Mr. President, you are well aware that, in this crucial hour, the United States of America is considered the defending wall against which the war declared by the advocates of globalism has been unleashed. Place your trust in the Lord, strengthened by the words of the Apostle Paul: "I can do all things in Him who strengthens me" (Phil 4:13). To be an instrument of Divine Providence is a great responsibility, for which you will certainly receive all the graces of state that you need, since they are being fervently implored for you by the many people who support you with their prayers.

With this heavenly hope and the assurance of my prayer for you, for the First Lady, and for your collaborators, with all my heart I send you my blessing.

God bless the United States of America!

+ Carlo Maria Viganò

Tit. Archbishop of Ulpiana

Former Apostolic Nuncio to the United States of America



holgerdanske , 33 minutes ago

Here is a man who seems to get it spot on!

Richard Chesler , 3 minutes ago

What's his ZH alias?

Sparehead , 29 minutes ago

I'd lost all hope for the Catholic church, but this guy is stepping up.

Crash Overide , 25 minutes ago

First saw the letter here... just saying.

dogbert8 , 11 minutes ago

I was just telling my brother that it was likely the best thing that ever happened to me when my parents decided to move me from Catholic school to public school, and that I never was an alter boy when in Catholic school. Who knew the priests were diddling the alter boys at the cyclic rate?

Slaytheist , 32 minutes ago

I left the church long ago, for the obvious reasons. If Carlo Maria Viganò was Pope, and the kid touchers burnt at the stake, I'd consider going back.

sixsigma cygnusatratus , 29 minutes ago

Leftism is an inverse form of theocracy. Destroying the Church and replacing it with government is also part of the plan of globalism.

Nation States and Christianity represent a threat to globalists and leftists.

Cabreado , 36 minutes ago

I appreciate the Archbishop's efforts, but...

Trump can't "save" it; he can only throw a wrench in the velocity.
(plenty worthy of a vote, I'd add)

Saving anything -- that's on the People.
That's per Design.

[Nov 02, 2020] Today, neoliberal is used to refer to someone who bills themselves as a liberal but promotes ideas that actually inhibit individuals' well-being. In the 1930s, the neo- in neoliberal meant "new." But with this new meaning, the neo- prefix takes on a more specific connotation: "fake."

Highly recommended!
Notable quotes:
"... Recently, the essayist George Scialabba described neoliberalism as "the extension of market dominance to all spheres of social life, fostered and enforced by the state," a rather nefarious-sounding proposition, including "investor rights agreements masquerading as 'free trade' and constraining the rights of governments to protect their own workers, environments, and currencies." ..."
"... Washington Monthly ..."
"... "neoliberal" quickly took on the heartless, Hooverian odor that "conservative" already had. ..."
"... checklist of neoliberal principles, which includes "the rule of the market," "cutting expenditures for social services," "deregulation," "privatization, and "eliminating the concept of 'the public good' or 'community.'" ..."
"... Between neoconservative and neoliberal, then, the neo prefix means not "new" but "disingenuous." ..."
"... The "neo" prefix now also carries a whiff of racist, in that both neoliberals and neoconservatives dissent from the liberal consensus on race issues, with neither in line with the idea that whites are stained by "privilege." ..."
May 30, 2017 | www.theatlantic.com

... Today the word is generally used as a critique from the left to refer to capitalism run amok. Recently, the essayist George Scialabba described neoliberalism as "the extension of market dominance to all spheres of social life, fostered and enforced by the state," a rather nefarious-sounding proposition, including "investor rights agreements masquerading as 'free trade' and constraining the rights of governments to protect their own workers, environments, and currencies."

... In the early '80s, Charles Peters, the editor of the Washington Monthly , helped usher in the new flavor of the word, as well as its reception from the left, with his aggressive "A Neo-Liberal's Manifesto." Those New Republic writers also brandished their self-appellation as neoliberals , in contrast to the mockingly termed paleoliberals . It furthered the sense of neoliberals as conservatives in sheep's clothing that they also opposed the basic liberal position on race issues -- Bill Clinton's welfare-reform policy, for example, was an outgrowth of neoliberal positions established in the 1980s, heartily espoused by, for example, The New Republic . Overtones, then, took effect -- for liberals, "neoliberal" quickly took on the heartless, Hooverian odor that "conservative" already had.

Since the Great Recession put the free market in an especially bad light, the new sense of neoliberal as a stain has settled in for good. Those familiar with the term through the writings of Lippmann, Hayek, or Friedman, once treated as "respectable" by many liberals, might now be confused by tart descriptions of neoliberalism such as the immigration activists Elizabeth Martinez and Arnoldo Garcia's flinty, contemptuous checklist of neoliberal principles, which includes "the rule of the market," "cutting expenditures for social services," "deregulation," "privatization, and "eliminating the concept of 'the public good' or 'community.'"

...Today, neoliberal is used to refer to someone who bills themselves as a liberal but promotes ideas that actually inhibit individuals' well-being. In the 1930s, the neo- in neoliberal meant "new." But with this new meaning, the neo- prefix takes on a more specific connotation: "fake."

... ... ...

Between neoconservative and neoliberal, then, the neo prefix means not "new" but "disingenuous." The neocon cloaks right-wing barbarism to make it seem less threatening; the neoliberal poses as a liberal while actually being a right-winger. The "neo" prefix now also carries a whiff of racist, in that both neoliberals and neoconservatives dissent from the liberal consensus on race issues, with neither in line with the idea that whites are stained by "privilege." From "new" to a moralist sneer -- this is how meanings evolve. The original ideological positions survive, and impose their meanings on the words created to move beyond them.

JOHN MCWHORTER is a contributing writer at The Atlantic. He teaches linguistics at Columbia University, hosts the podcast Lexicon Valley , and is the author, most recently, of Words on the Move .

[Nov 01, 2020] The global neoliberal elites see politics as such, and any mode of economy other than that which is strictly regimented and controlled by the US government, the oligopoly MNCs and a handful of globalization entities, as antiquated obstructions to its power and profit.

Notable quotes:
"... From the point of view of the Earth and especially humanity it's essential to obstruct the globalist-technocratic elite as much as possible. ..."
"... So it follows that anything which sustains and multiplies the number of obstacles any globalist actor has to traverse is a good thing, while anything that streamlines, unifies, renders more "efficient" is bad. This includes the character of US foreign policy. Although it will remain aggressively imperialist for as long as this government exists, it makes a significant difference how disciplined and superficially "kinder and gentler" the facade is, as opposed to how wayward, openly brutish and gratuitously insulting to everyone in the world. ..."
"... Trump's election was a monkey-wrench in the works, and although the elites were able to make lemonade by turning anti-Trumpism into an organizing principle among the bewildered masses, they certainly want to return to having a reliable, fully pliant figurehead in the White House. With Biden/Harris they'd get the best of both worlds - they either get the obedient Biden or the even more aggressively obedient Harris who would be all the more controllable since she has no political support of her own and wouldn't have been elected even if Biden became president and then had to be retired. ..."
Nov 01, 2020 | www.moonofalabama.org

Russ , Nov 1 2020 7:53 utc | 123

The globalist "Great Reset" wants to overcome the diverse rising obstacles to globalism's perpetuation, especially the intensifying centrifugal political and economic forces which directly oppose it or which hinder it. The global elites see politics as such, and any mode of economy other than that which is strictly regimented and controlled by the US government, the oligopoly MNCs and a handful of globalization entities, as antiquated obstructions to its power and profit. From the point of view of the Earth and especially humanity it's essential to obstruct the globalist-technocratic elite as much as possible.

So it follows that anything which sustains and multiplies the number of obstacles any globalist actor has to traverse is a good thing, while anything that streamlines, unifies, renders more "efficient" is bad. This includes the character of US foreign policy. Although it will remain aggressively imperialist for as long as this government exists, it makes a significant difference how disciplined and superficially "kinder and gentler" the facade is, as opposed to how wayward, openly brutish and gratuitously insulting to everyone in the world.

Real anti-globalists always have known this, and the need never has been more critical than now. From this point of view Trump is vastly preferable. The across-the-board hatred of the elites for him is the best recommendation.

Trump's election was a monkey-wrench in the works, and although the elites were able to make lemonade by turning anti-Trumpism into an organizing principle among the bewildered masses, they certainly want to return to having a reliable, fully pliant figurehead in the White House. With Biden/Harris they'd get the best of both worlds - they either get the obedient Biden or the even more aggressively obedient Harris who would be all the more controllable since she has no political support of her own and wouldn't have been elected even if Biden became president and then had to be retired.

So it follows that gratuitous US imperial belligerence is in fact being "creatively destructive", to use one of capitalism's own religious terms, in spite of the US empire's own long-run goals and interests. The worst thing would be for US foreign policy to become less Kaiser and more Bismarck. The more chaos the better. It may seem more painful in the short run than running home to hide under adult mama's skirts the way almost all former anti-imperialists, anti-globalists, "radicals", "leftists" have done, since they all were frauds all along who can't take the slightest pain or hardship and would rather die than do any movement-building work, but for the long run good of the Earth including humanity there's no other option.

[Oct 30, 2020] Chile's referendum rejecting the Pinochet-era constitution shows that the world is entering a new, anti-neoliberal age by Bradley Blankenship

Oct 07, 2020 | www.rt.com

The result, 78 percent in favor of a new constitution, is a damning indictment on the neoliberal system adopted under the right-wing junta in 1973 that was used as a launch pad for similar programs around the world.

On Sunday , almost exactly a year after protests over inequality erupted in the country, Chileans voted in a landslide to adopt a new constitution that will ditch the one enshrined in 1980 under the military dictatorship of General Augusto Pinochet.

As Robert Packenham and William Ratliff wrote in a 2007 Hoover Institution paper , "The first country in the world to make that momentous break with the past – away from socialism and extreme state capitalism toward more market-oriented structures and policies – was not Deng Xiaoping's China or Margaret Thatcher's Britain in the late 1970s, Ronald Reagan's United States in 1981, or any other country in Latin America or elsewhere. It was Pinochet's Chile in 1975."

ALSO ON RT.COM The coup didn't take: Socialists' victory in Bolivia shows more unity than foreign meddlers would like

This system was adopted in plain defiance of the will of Chilean voters who democratically elected socialist leader Salvador Allende as president in 1970. Washington, which had long been subverting Allende's candidacy, wanted Chile to remain under its thumb and not pursue an independent development path or foreign policy direction, which an Allende presidency guaranteed.

During his first year in office, real wages increased dramatically as his administration began to nationalize key industries. However, the Chilean economy was hit hard by aggressive US sanctions imposed by former President Richard Nixon. Inflation hit an annual rate of 150 percent in 1973, which added serious internal pressure to Allende's government and set the stage for the CIA-backed coup in September of that year that installed General Pinochet – the commander-in-chief of the military – into power.

It was the 'Chicago Boys', a group of Chilean graduate students who were invited to study at University of Chicago in the 1950s directly under neoliberal mastermind Milton Friedman and his protege, Arnold Harberger, that crafted Pinochet's economic policies, exacerbating inequality like never before seen. It was they that helped create the Pinochet-era constitution in 1980.

This era of Chile's history was a social experiment for the theoretical work of Friedman and his supply-side contemporaries that promised to create sustained economic growth and "trickle down" this newly created wealth to workers.

Scholars had disagreed over the success of these neoliberal policies to achieve these goals, with some crediting Chile's relative economic success in Latin America to these neoliberal policies and others citing the deep cleavages in society exacerbated by these policies.

The self-evident failure of these policies came in 1982 when the gravest economic crisis the country faced since the Great Depression caused GDP to fall 14.3 percent and unemployment soared to 23.7 percent . While it is attributed by some to the Latin American debt crisis of the 1980s, Chile's disproportionate backslide during this time was unique amongst its peers and its radical shock therapy was no doubt to blame.

Even after the crisis subsided and the country's growth began to outpace its peers in what Milton Friedman called the "Miracle of Chile," this growth was achieved due to a less radical version of the neoliberal program in a sort of mixed system during the center-left Concertación governments between 1990 and 2010.

While economic growth has accelerated and inequality has decreased to some extent, Chile remains one of Latin America's most unequal societies and prevailing policy does little to address it, not in the way Chileans obviously want. Poverty still remains, the general cost of living is rising and top earners continue to pull in the lion's share of newly generated wealth. Chile's inequality issues, as voters understand, are systemic.

Even by Friedman's own analysis of the country's history his professed policies were indeed a failure because of their rejection in Sunday's referendum. He lauded the economic program of Pinochet's regime, though claimed to have less admiration for its political repression. It was the freeing of Chile's markets and the reorientation of the economy toward privatization that allowed democracy to flourish when Pinochet exited in 1988 after failing to win a referendum on the extension of his presidency, according to him.

Yet it is now democracy, which had doubtless already existed in Chile before Pinochet came to power, that has undone the skeleton of the neoliberal political program. To be sure, reactionary elements exist within Chile and the exact details of a new constitution are yet to be seen. It is foreseeable that these elements could advance a similar or even more radical neoliberal program in a new constitution, but the results of Sunday's referendum speak to the success of the social movement that pushed for the vote in the first place – the movement against neoliberalism. They are the ones poised to lead on the new proposals.

ALSO ON RT.COM WATCH Chileans celebrate as voting signals end of Pinochet-era constitution

The worldwide movement against neoliberalism has actually won two recent victories in Latin America: Sunday's constitutional referendum and the victory of Luis Arce and the Movement for Socialism (MAS) in Bolivia's election on October 18. The former represents the wholesale rejection of neoliberalism while the latter represents the fact that replicating the 1973 coup that created the conditions for neoliberalism to first enter the material world cannot happen again. The similarities between what the US-backed interim regime of Jeanine Añez tried to make happen in Bolivia this year and what the Pinochet regime did are extensive.

Neoliberalism has remained the world's preeminent economic and ideological paradigm since at least the 1970s, but as one popular Chilean protest slogan states, "Neoliberalism was born in Chile and will die in Chile." What happens in the adoption of a new Chilean constitution may be a useful barometer for what may be the world's next ideological realignment, just as it was in 1980.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

Bradley Blankenship

Bradley Blankenship, Prague-based American journalist, political analyst and freelance reporter. He has a syndicated column at China Global Television Network where he writes about politics in the United States, Latin America, the Middle East and Europe, he's also a freelance reporter for international news agencies including Xinhua News Agency. Follow him on Twitter @BradBlank_ ECO SOLUTIONS 1 day ago The author is right when he describes that Chile was used as a pilot country to fine-tune neoliberal model. I also believe that his assessment that Chilean society rejected as a whole this imposed model via this referendum results is correct. And also I think that he is right in extrapolating the Chilean experience on what will happen soon in other countries where the neoliberal model has been imposed by coercion. I would add that Chile was also used as a pilot country to test the privatization model that benefits big Corporations at the detriment of sovereignty, civil rights and national resources. Furthermore, Chile was also used as a pilot to test US' foreign meddling CIA's coverted operations in partnership with its key Corporations, for toppling sovereign countries with practices that later became so common in US' foreign policy, including also military direct intervention/occupation.
shadow1369 ECO SOLUTIONS 12 hours ago The unholy alliance of US regimes and big business has been operating since the 19thC. Reply 1 Sergio Weigel ECO SOLUTIONS 1 day ago Everything right, except for the latter. They had gained that kind of experience already in Iran 1953, and many other ways elsewhere. Besides, they learned this tactic from the British. fazul 1 day ago "While economic growth has accelerated and inequality has decreased to some extent, Chile remains one of Latin America's most unequal societies and prevailing policy does little to address it," Those are the little things that show how people are conditioned to accept false narratives as given. False narrative: Inequality has to be decreased (by using socialism or socialist policies) Truth: Ineqality is not inherently wrong. People are not born equal and never will be. Some people are tall and dull. Other people are short, bald and smart. Some skills are much better paid than other skills. Not everyone is born a diamond. However currently inequality is created by government interventions: too big to fail, government bailouts, covid lockdowns. We dont need a government to "address ineqality", we need a government that doesnt create it anylonger. Reply 13 7 Tango fazul 9 hours ago It's not inequality per se, but the degree of inequality which is disproportional. There used to be a 10x or even 20x salary differential between the highest paid and the lowest paid person in a company. Over time, that has skyrocketed to 300x or even 3000x. Also, the market for labour gives distorted price signals because the price of capital is distorted. There is no reason for a senior trader at a bank at a too big to fail bank to be paid 100x what a schoolteacher or nurse is paid simply because the bank is showered with money from a central bank. Jai Nepal 18 hours ago Pinochet was exited when even his most ardent supporters in USA and CIA, could not keep the mass murders and torture under wraps , forced adoptions of thousands of orphans created by disappearance of political opponents and academics . This same methods used against Allende now being used against Maduro Government in Venezuela , The American state will never learn. Rob M 1 day ago The US coup in Chile in 1973 happened on Sept. 11. Ironic or planned? AlvaroMarfan827 1 day ago Yes. But Concertación was not center-left but outright right with the Chilean Christian-Democrats exerting dominance over the whole political spectrum, with the Socialists faux-left à la Europe headed by Camilo Escalona dancing to the tune. Reply 5 lectrodectus 20 hours ago An excellent summation of Chile, didn't Bush Jr describe Chile as being an example of an " IDEAL DEMOCRACY" (with the usual Smirk on his face) when he was giving an address at some elite business dinner ... he made another remark to his wealthy audience something similar to.... here we are.... The Haves and Have More....... Murph_718 1 day ago It looks like the world is rejecting the neo liberal/neo fascist one world agenda of the IMF,and World Bank.Even in the heart of the US,as we speak,the majority of people are taking a stand against the white supremacist,imperialist agenda of the Evil Empire. Ironmanx 1 day ago Neolibernatzi shadow1369 12 hours ago Seems to me that a number of Latin American states are suffering from a severe lack of cookies. Time for the CIA to step up. But of course we know that the days of US tyranny are numbered, for every mole they whack, four more pop up to take its place. Thinking about Adolf Bolton and Herman Pompeo frothing with impotent outrage fills me with delight. With any luck both will suffer lethal strokes.

[Oct 30, 2020] Chile's referendum rejecting the Pinochet-era constitution shows that the world is entering a new, anti-neoliberal age -- RT Op-ed

Oct 30, 2020 | www.rt.com

Chile's referendum rejecting the Pinochet-era constitution shows that the world is entering a new, anti-neoliberal age Bradley Blankenship Bradley Blankenship

Bradley Blankenship, Prague-based American journalist, political analyst and freelance reporter. He has a syndicated column at China Global Television Network where he writes about politics in the United States, Latin America, the Middle East and Europe, he's also a freelance reporter for international news agencies including Xinhua News Agency. Follow him on Twitter @BradBlank_ 27 Oct, 2020 19:53 Get short URL Chile's referendum rejecting the Pinochet-era constitution shows that the world is entering a new, anti-neoliberal age Demonstrators supporting the reform of the Chilean constitution celebrate while waiting for the referendum official results at Plaza Italia square in Santiago on October 25, 2020. © AFP 84 Follow RT on RT The result, 78 percent in favor of a new constitution, is a damning indictment on the neoliberal system adopted under the right-wing junta in 1973 that was used as a launch pad for similar programs around the world.

On Sunday , almost exactly a year after protests over inequality erupted in the country, Chileans voted in a landslide to adopt a new constitution that will ditch the one enshrined in 1980 under the military dictatorship of General Augusto Pinochet.

As Robert Packenham and William Ratliff wrote in a 2007 Hoover Institution paper , "The first country in the world to make that momentous break with the past – away from socialism and extreme state capitalism toward more market-oriented structures and policies – was not Deng Xiaoping's China or Margaret Thatcher's Britain in the late 1970s, Ronald Reagan's United States in 1981, or any other country in Latin America or elsewhere. It was Pinochet's Chile in 1975."

ALSO ON RT.COM The coup didn't take: Socialists' victory in Bolivia shows more unity than foreign meddlers would like

This system was adopted in plain defiance of the will of Chilean voters who democratically elected socialist leader Salvador Allende as president in 1970. Washington, which had long been subverting Allende's candidacy, wanted Chile to remain under its thumb and not pursue an independent development path or foreign policy direction, which an Allende presidency guaranteed.

During his first year in office, real wages increased dramatically as his administration began to nationalize key industries. However, the Chilean economy was hit hard by aggressive US sanctions imposed by former President Richard Nixon. Inflation hit an annual rate of 150 percent in 1973, which added serious internal pressure to Allende's government and set the stage for the CIA-backed coup in September of that year that installed General Pinochet – the commander-in-chief of the military – into power.

It was the 'Chicago Boys', a group of Chilean graduate students who were invited to study at University of Chicago in the 1950s directly under neoliberal mastermind Milton Friedman and his protege, Arnold Harberger, that crafted Pinochet's economic policies, exacerbating inequality like never before seen. It was they that helped create the Pinochet-era constitution in 1980.

This era of Chile's history was a social experiment for the theoretical work of Friedman and his supply-side contemporaries that promised to create sustained economic growth and "trickle down" this newly created wealth to workers.

Scholars had disagreed over the success of these neoliberal policies to achieve these goals, with some crediting Chile's relative economic success in Latin America to these neoliberal policies and others citing the deep cleavages in society exacerbated by these policies.

The self-evident failure of these policies came in 1982 when the gravest economic crisis the country faced since the Great Depression caused GDP to fall 14.3 percent and unemployment soared to 23.7 percent . While it is attributed by some to the Latin American debt crisis of the 1980s, Chile's disproportionate backslide during this time was unique amongst its peers and its radical shock therapy was no doubt to blame.

Even after the crisis subsided and the country's growth began to outpace its peers in what Milton Friedman called the "Miracle of Chile," this growth was achieved due to a less radical version of the neoliberal program in a sort of mixed system during the center-left Concertación governments between 1990 and 2010.

While economic growth has accelerated and inequality has decreased to some extent, Chile remains one of Latin America's most unequal societies and prevailing policy does little to address it, not in the way Chileans obviously want. Poverty still remains, the general cost of living is rising and top earners continue to pull in the lion's share of newly generated wealth. Chile's inequality issues, as voters understand, are systemic.

Even by Friedman's own analysis of the country's history his professed policies were indeed a failure because of their rejection in Sunday's referendum. He lauded the economic program of Pinochet's regime, though claimed to have less admiration for its political repression. It was the freeing of Chile's markets and the reorientation of the economy toward privatization that allowed democracy to flourish when Pinochet exited in 1988 after failing to win a referendum on the extension of his presidency, according to him.

Yet it is now democracy, which had doubtless already existed in Chile before Pinochet came to power, that has undone the skeleton of the neoliberal political program. To be sure, reactionary elements exist within Chile and the exact details of a new constitution are yet to be seen. It is foreseeable that these elements could advance a similar or even more radical neoliberal program in a new constitution, but the results of Sunday's referendum speak to the success of the social movement that pushed for the vote in the first place – the movement against neoliberalism. They are the ones poised to lead on the new proposals.

ALSO ON RT.COM WATCH Chileans celebrate as voting signals end of Pinochet-era constitution

The worldwide movement against neoliberalism has actually won two recent victories in Latin America: Sunday's constitutional referendum and the victory of Luis Arce and the Movement for Socialism (MAS) in Bolivia's election on October 18. The former represents the wholesale rejection of neoliberalism while the latter represents the fact that replicating the 1973 coup that created the conditions for neoliberalism to first enter the material world cannot happen again. The similarities between what the US-backed interim regime of Jeanine Añez tried to make happen in Bolivia this year and what the Pinochet regime did are extensive.

Neoliberalism has remained the world's preeminent economic and ideological paradigm since at least the 1970s, but as one popular Chilean protest slogan states, "Neoliberalism was born in Chile and will die in Chile." What happens in the adoption of a new Chilean constitution may be a useful barometer for what may be the world's next ideological realignment, just as it was in 1980.

Like this story? Share it with a friend!

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

ECO SOLUTIONS 1 day ago The author is right when he describes that Chile was used as a pilot country to fine-tune neoliberal model. I also believe that his assessment that Chilean society rejected as a whole this imposed model via this referendum results is correct. And also I think that he is right in extrapolating the Chilean experience on what will happen soon in other countries where the neoliberal model has been imposed by coercion. I would add that Chile was also used as a pilot country to test the privatization model that benefits big Corporations at the detriment of sovereignty, civil rights and national resources. Furthermore, Chile was also used as a pilot to test US' foreign meddling CIA's coverted operations in partnership with its key Corporations, for toppling sovereign countries with practices that later became so common in US' foreign policy, including also military direct intervention/occupation.
shadow1369 ECO SOLUTIONS 12 hours ago The unholy alliance of US regimes and big business has been operating since the 19thC. Reply 1 Sergio Weigel ECO SOLUTIONS 1 day ago Everything right, except for the latter. They had gained that kind of experience already in Iran 1953, and many other ways elsewhere. Besides, they learned this tactic from the British. fazul 1 day ago "While economic growth has accelerated and inequality has decreased to some extent, Chile remains one of Latin America's most unequal societies and prevailing policy does little to address it," Those are the little things that show how people are conditioned to accept false narratives as given. False narrative: Inequality has to be decreased (by using socialism or socialist policies) Truth: Ineqality is not inherently wrong. People are not born equal and never will be. Some people are tall and dull. Other people are short, bald and smart. Some skills are much better paid than other skills. Not everyone is born a diamond. However currently inequality is created by government interventions: too big to fail, government bailouts, covid lockdowns. We dont need a government to "address ineqality", we need a government that doesnt create it anylonger. Reply 13 7 Tango fazul 9 hours ago It's not inequality per se, but the degree of inequality which is disproportional. There used to be a 10x or even 20x salary differential between the highest paid and the lowest paid person in a company. Over time, that has skyrocketed to 300x or even 3000x. Also, the market for labour gives distorted price signals because the price of capital is distorted. There is no reason for a senior trader at a bank at a too big to fail bank to be paid 100x what a schoolteacher or nurse is paid simply because the bank is showered with money from a central bank. Jai Nepal 18 hours ago Pinochet was exited when even his most ardent supporters in USA and CIA, could not keep the mass murders and torture under wraps , forced adoptions of thousands of orphans created by disappearance of political opponents and academics . This same methods used against Allende now being used against Maduro Government in Venezuela , The American state will never learn. Rob M 1 day ago The US coup in Chile in 1973 happened on Sept. 11. Ironic or planned? AlvaroMarfan827 1 day ago Yes. But Concertación was not center-left but outright right with the Chilean Christian-Democrats exerting dominance over the whole political spectrum, with the Socialists faux-left à la Europe headed by Camilo Escalona dancing to the tune. Reply 5 lectrodectus 20 hours ago An excellent summation of Chile, didn't Bush Jr describe Chile as being an example of an " IDEAL DEMOCRACY" (with the usual Smirk on his face) when he was giving an address at some elite business dinner ... he made another remark to his wealthy audience something similar to.... here we are.... The Haves and Have More....... Murph_718 1 day ago It looks like the world is rejecting the neo liberal/neo fascist one world agenda of the IMF,and World Bank.Even in the heart of the US,as we speak,the majority of people are taking a stand against the white supremacist,imperialist agenda of the Evil Empire. Ironmanx 1 day ago Neolibernatzi shadow1369 12 hours ago Seems to me that a number of Latin American states are suffering from a severe lack of cookies. Time for the CIA to step up. But of course we know that the days of US tyranny are numbered, for every mole they whack, four more pop up to take its place. Thinking about Adolf Bolton and Herman Pompeo frothing with impotent outrage fills me with delight. With any luck both will suffer lethal strokes.

[Oct 26, 2020] The Pope wanted to convey some very precise words about the risks involved in an excess of political and ideological polarization

Oct 26, 2020 | www.moonofalabama.org

H.Schmatz , Oct 25 2020 13:26 utc | 70

Reported by a center-conservative newspaper, curiously, in yesterady´s hearing with Spanish President, Pedro Sánchez, Pope Francis made a similar analysis to this one from the left, on the similarities of this moment with Weimar, and the need to low the level of political twitching, which only benefits those who seek the destruction of nation states. He referred also to what country, nation and homeland would mean ( and in this, one would say he is on the same line as Putin...)

What the Holy See could know that we do not...?

Francis talks about Weimar

H.Schmatz , Oct 25 2020 16:44 utc | 82

@

[Oct 25, 2020] Whose Great Reset- The Fight For Our Future Technocracy Vs. The Republic -

Oct 25, 2020 | www.zerohedge.com

Whose Great Reset? The Fight For Our Future – Technocracy Vs. The Republic by Tyler Durden Fri, 10/23/2020 - 23:40 Twitter Facebook Reddit Email Print

Authored by Joaquin Flores via The Strategic Culture Foundation,

People living in the western world are in the greatest fight for the future of pluralist and republican forms of governance since the rise and fall of fascism 75 years ago. As then, society had to be built up from a war. Today's war has been an economic war of the oligarchs against the republic, and it increasingly appears that the coronavirus pandemic is being used, on the political end, as a massive coup against pluralist society. We are being confronted with this 'great reset', alluding to post-war construction. But for a whole generation people have already been living under an ever-increasing austerity regimen. This is a regimen that can only be explained as some toxic combination of the systemic inevitabilities of a consumer-driven society on the foundation of planned obsolescence, and the never-ending greed and lust for power which defines whole sections of the sociopathic oligarchy.

Recently we saw UK PM Boris Johnson stand in front of a 'Build Back Better' sign, speaking to the need for a 'great reset'. 'Build Back Better' happens to be Joe Biden's campaign slogan, which raises many other questions for another time. But, to what extent are the handlers who manage 'Joe Biden', and those managing 'Boris Johnson' working the same script?

The more pertinent question is to ask: in whose interest is this 'great reset' being carried out ?

Certainly it cannot be left to those who have built their careers upon the theory and practice of austerity. Certainly it cannot be left to those who have built their careers as puppets of a morally decaying oligarchy.

What Johnson calls the 'Great Reset', Biden calls the 'Biden Plan for a Clean Energy Revolution & Environmental Justice'. Certainly the coming economy cannot be left to Boris Johnson or Joe Biden.

How is it that now Boris Johnson speaks publicly of a 'great reset', whereas just months ago when those outside the ruling media paradigm used this phrase, it was censured by corporate Atlanticist media as being conspiratorial in nature? This is an excellent question posed by Neil Clark.

And so we have by now all read numerous articles in the official press talking about how economic life after coronavirus will never be the same as it was before. Atlanticist press has even run numerous opinion articles talking about how this may cut against globalization – a fair point, and one which many thinking people by and large agree with.

Yet they have set aside any substantive discussion about what exists in lieu of globalization, and what the economy looks like in various parts of the world if it is not globalized. We have consistently spoken of multipolarity, a term that in decades past was utilized frequently in western vectors, in the sphere of geopolitics and international relations. Now there is some strange ban on the term, and so we are now bereft of a language with which to have an honest discussion about the post-globalization paradigm.

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890 Technocracy or Pluralism? A Fight Against the Newspeak

Until now, we have only been given a steady diet of distancing, of lockdown provisions, quarantining, track and trace, and we have forgotten entirely about the fact that all of this was only supposed to be a two or three-week long exercise to flatten the curve. And now the truth is emerging that what is being planned is a new proposal being disguised as a 'great reset'.

One of the large problems in discussing the 'great reset' is that a false dichotomy has arisen around it. Either one wants things to be how they were before and without changes to the status quo, or they promote this 'great reset'. Unfortunately, Clark in his RT article falls into this false dichotomy, and perhaps only for expedience sake in discussing some other point, he does not challenge the inherent problems in 'how things were before'. In truth, we would be surprised if Clark did not appreciate what we are going to propose.

What we propose is that we must oppose their ' new normal ' 'great reset', while also understanding the inherent problems of what had been normalized up until Covid.

The way things were before was also a tremendous problem, and yet now it only seems better in comparison to the police state-like provisions we've encountered throughout the course of politicizing the spectre of this 'pandemic'.

Oddly this politicization is based in positive cases (and not hospitalizations) ostensibly linked to the novel coronavirus. Strangely, we are told to 'listen to the consensus science' even as these very institutions consist of politically arrived at appointments. Certainly science is not about consensus, but about challenging assumptions, repeatability and a lively debate between disagreeing scientists with relatively equal qualifications. As Kuhn explains in The Structure of Scientific Revolutions , science is always evolving, and by definition potentially overturns consensus paradigms. This is a debate we have not seen, and this fact by itself represents an illiberal cancer growing on an already defective pluralist society – ironically, all flying under the banner of liberalism.

Decisions that a society decides to take should be driven by reason, prudence, and justice. What is or isn't scientific plays a role, but cannot be the deciding factor. Science clearly says that we may eliminate cross-walk injuries by banning street-crossing or by banning driving, but what policy makers must do is account for the need to have both cars and crossing the street, in deciding how – if it's even possible – to reduce or eliminate such injuries. Science is only one part of this equation.

But isn't economics also a science? Is sociology not a science? What about psychology and psychiatry – as in the known effects of social isolation and, say, suicide prevention? What about housing and urban planning? The great sociologist Emile Durkheim explains how these are sciences – they adopt and apply the scientific method in their work. Universities have been awarding doctoral degrees in these sciences for a century or more, do these expert opinions not count when managing a public catastrophe?

It is, and always has been, a political and politicized position to listen to some scientists, and not others.

And so what of our term 'reset'? Indeed, it is itself misleading, and we would propose it is intentionally so if we understand Orwell's critique of the use of language – newspeak – in technocratic oligarchies.

A 'reset' textually refers to going back to something once known, erasing defects or contradictions which arose along the way, which carries with it the familiar, and something we had previously all agreed to. A 'reset' by definition means going back to how things were before – not just recently, but before at some point farther back. Its definition is literally contrary to how Boris Johnson means it in his shocking public statement at the start of October.

The term 'reset' was therefore arrived with extraordinary planning and thoughtfulness, with the intent to persuade [manipulate] the public. It simultaneously straddles two unique concepts, and bundles them together at once into a single term in a manner that reduces nuance and complexity and therefore also reduces thinking. It does so while appealing to the implicit notion of the term that it relates to a past consensus agreement.

If understood as we are told to understand it, we must hold two mutually contradictory notions at the same time – we are incongruously told that this reset must effectively restore society to how it was at some point before because things can never be how they were at any time before. Only within the paradigm of this vicious newspeak could anything ever have the public thinking that such a textual construction makes any bit of sense.

What are Our Real Options? Whose Reset?

Those who understand that this 'reset' is not a reset but rather a whole new proposal on the entire organization of society, but being done through oligarchical methods and without the sort of mandate required in a society governed by laws and not men, are – as we have said – reluctant to admit that a great change is indeed necessary.

Rather, we must understand that the underlying catastrophic economic mechanisms which are forcing this great change exist independently of the coronavirus, and exist independently of the particular changes which the oligarchs promoting their version of a 'reset' (read: new proposals ) would like to see.

You see, the people and the oligarchs are locked into a single system together. In the long-term, it seems as if the oligarchs are looking for solutions to change that fact, and effect a final solution that grants them an entirely break-away civilization. But at this moment, that is not the case. Yet this system cannot carry forward as it has been, and the Coronavirus presents a reason at once both mysterious in its timing and also profound in its implications, to push forward a new proposal.

We believe that technology is quickly arriving at a point where the vast majority of human beings will be considered redundant. If the technocracy wants to create a walled civilization, and leave the rest of humanity to manage their own lives along some agrarian, mediaeval mode of production, there may indeed be benefits to those who live along agrarian lines. But based in what we know about psychopathy, and the tendency of that among those who govern, such an amicable solution is likely not in the cards.

That is why the anti-lockdown protests are so critically important to endorse. This is precisely because the lockdown measures are used to ban mass public demonstrations, a critical part of pushing public policy in the direction of the interests of the general public. A whole part of the left has been compromised, and rolled out to fight imaginary fascists, by which they mean anyone with conventional social views which predate May of 1968. All the while the actual plutocrats unleash a new system of oligarchical control which, for most, has not been hitherto contemplated except by relatively obscure political scientists, futurists, and science fiction authors.

Certainly the consumerist economic system (sometimes called 'capitalism' by the left), which is based in both globalized supply chains but also planned obsolescence, is no longer feasible. In truth, this relied upon a third-world to be a source of both raw materials and cheaper labor. The plus here is that this 'developing world' has largely now developed. But that means they will be needing their own raw materials, and their own middle-classes have driven up their own cost of labor. Globalization was based in some world before development, where the real dynamic is best explained as imperialism , and so it makes sense that this system is a relic of the past, and indeed ought to be.

It increasingly appears that the 'Coronavirus pandemic', was secondary to the foregone economic crisis which we were told accompanied it. Rather, it seems that the former came into being to explain-away the latter.

Another world is possible, but it is one which citizens fight for. In the U.S., England, Scotland, Ireland, and Germany, there have already been rather large anti-lockdown demonstrations. These, as we have explained, are not just against lockdown but are positively pushing to assert the right to public and political association, to public and political speech, and the redressing of grievances. This is a fundamental right for citizens in any republic where there is any sort of check on the oligarchy.

We have written on the kind of world that is possible, in our piece from April 2020 titled: " Coronavirus Shutdown: The End of Globalization and Planned Obsolescence – Enter Multipolarity ". That lays out what is possible, and what the problems of pre-corona system were, in economic terms more than political. Here we discuss the problems of globalization-based supply chain security in a multipolar world, and the larger problem of planned obsolescence, especially in light of 3D printing, automation, and the internet of things.

We posed the philosophical question as to whether it is justified to have a goods-production system based upon both the guaranteed re-sale of the same type of goods due to planned obsolescence and the 'work guarantees' that came with it. In short, do we live to work or to we work to live? And with the 4th industrial revolution looming, we posed the question of what will happen after human workers are no longer required.

Pluralist society is the compromise outcome of a ceasefire in the class war between the oligarchy and the various other classes that compromise the people, at large. Largely idealized and romantic ideas that form the basis of the liberal-democratic ideology (as well as classical fascism) are used to explain how it is the oligarchy that is so very committed to that arrangement of pluralism, and that this very arrangement is the product of their benevolence, and not the truth: that it was the fight put up by common people to fight for a more just future. No doubt there have been benevolent oligarchs who really believed in the liberal ideology, of which fascism is one of its more radical products. But the view that the class struggle can be acculturated or legislated into non-existence is similar to believing that the law of gravity can be ruled unlawful in a court.

Perhaps we have forgotten what it takes, and perhaps things just have not gotten bad enough. Decreases in testosterone levels in the population may be leading to a dangerous moment where vigorous defiance to injustice is much less possible. Critical now is to avoid any artificial means to opiate ourselves into thinking things are better than they are, whether by way of anti-depressants or other self-medication. Only with a clear assessment of the real situation on the ground can we forge the necessary strategy.

The great political crisis now is that a pandemic is being used to justify an end-run around constitutional rights, an end-run around pluralist society, and so the vehicle – the mechanism – that the general public might use to fight for their version of a 'reset' is on the verge of disappearing.

In many ways this means that now is the final moment. We ask – whose great reset, ours or theirs?

[Oct 21, 2020] Like rise of the Praetorian Guard in Rome, the rise of political role of US intelligence agencies and an ominous sign by cynthia chung

Notable quotes:
"... When the matter of truth is depicted as a possible threat to those that govern a country, you no longer have a democratic state. True, not everything can be disclosed to the public in real time, but we are sitting on a mountain of classified intelligence material that goes back more than 60 years. ..."
"... From this recognition, the whole matter of declassifying material around the Russigate scandal in real time, and not highly redacted 50 years from now, is essential to addressing this festering putrefaction that has been bubbling over since the heinous assassination of President Kennedy on Nov. 22nd, 1963 and to which we are still waiting for full disclosure of classified papers 57 years later. ..."
"... These intelligence bureaus need to be reviewed for what kind of method and standard they are upholding in collecting their "intelligence," that has supposedly justified the Mueller investigation and the never-ending Flynn investigation which have provided zero conclusive evidence to back up their allegations and which have massively infringed on the elected government's ability to make the changes that they had committed to the American people. ..."
"... Just like the Iraq and Libya war that was based off of cooked British intelligence (refer here and here ), Russiagate appears to have also had its impetus from our friends over at MI6 as well. It is no surprise that Sir Richard Dearlove, who was then MI6 chief (1999-2004) and who oversaw and stood by the fraudulent intelligence on Iraq stating they bought uranium from Niger to build a nuclear weapon, is the very same Sir Richard Dearlove who promoted the Christopher Steele dossier as something "credible" to American intelligence. ..."
"... In other words, the same man who is largely responsible for encouraging the illegal invasion of Iraq, which set off the never-ending wars on "terror," that was justified with cooked British intelligence is also responsible for encouraging the Russian spook witch-hunt that has been occurring within the US for the last four years over more cooked British intelligence, and the FBI and CIA are knowingly complicit in this. ..."
"... "The Central Intelligence Agency violated its charter for 25 years until revelations of illegal wiretapping, domestic surveillance, assassination plots, and human experimentation led to official investigations and reforms in the 1970s." [emphasis added] ..."
"... On Dec. 22, 1974, The New York Times published an article by Seymour Hersh exposing illegal operations conducted by the CIA, dubbed the "family jewels". This included, covert action programs involving assassination attempts on foreign leaders and covert attempts to subvert foreign governments, which were reported for the first time. In addition, the article discussed efforts by intelligence agencies to collect information on the political activities of US citizens. ..."
"... Largely as a reaction to Hersh's findings, the creation of the Church Committee was approved on January 27, 1975, by a vote of 82 to 4 in the Senate. ..."
"... In addition, the Church Committee produced seven case studies on covert operations, but only the one on Chile was released, titled " Covert Action in Chile: 1963–1973 ". The rest were kept secret at the CIA's request. ..."
"... Among the most shocking revelation of the Church Committee was the discovery of Operation SHAMROCK , in which the major telecommunications companies shared their traffic with the NSA from 1945 to the early 1970s. The information gathered in this operation fed directly into the NSA Watch List. It was found out during the committee investigations that Senator Frank Church, who was overseeing the committee, was among the prominent names under surveillance on this NSA Watch List. ..."
"... According to Garrison's team findings, there was reason to believe that the CIA was involved in the orchestrations of President Kennedy's assassination but access to classified material (which was nearly everything concerning the case) was necessary to continue such an investigation. ..."
"... Though Garrison's team lacked direct evidence, they were able to collect an immense amount of circumstantial evidence, which should have given the justification for access to classified material for further investigation. Instead the case was thrown out of court prematurely and is now treated as if it were a circus. [Refer to Garrison's book for further details and Oliver Stone's excellently researched movie JFK ] ..."
"... On Oct. 6th, 2020, President Trump ordered the declassification of the Russia Probe documents along with the classified documents on the findings concerning the Hillary Clinton emails. The release of these documents threatens to expose the entrapment of the Trump campaign by the Clinton campaign with help of the US intelligence agencies. ..."
"... Trey Gowdy, who was Chair of the House Oversight Committee from June 13th, 2017 – Jan. 3rd, 2019, has stated in an interview on Oct. 7th, 2020 that he has never seen these documents. Devin Nunes, who was Chair of the House Intelligence Committee from Jan. 3rd, 2015 – Jan. 3rd, 2019, has also said in a recent interview that he has never seen these documents. ..."
"... Reprinted with permission from Strategic Culture Foundation . ..."
Oct 20, 2020 | ronpaulinstitute.org

"Treason doth never prosper; what is the reason? Why, if it prosper, none dare call it treason." – Sir John Harrington.

As Shakespeare would state in his play Hamlet, "Something is rotten in the state of Denmark," like a fish that rots from head to tail, so do corrupt government systems rot from top to bottom.

This is a reference to the ruling system of Denmark and not just the foul murder that King Claudius has committed against his brother, Hamlet's father. This is showcased in the play by reference to the economy of Denmark being in a state of shambles and that the Danish people are ready to revolt since they are on the verge of starving. King Claudius has only been king for a couple of months, and thus this state of affairs, though he inflames, did not originate with him.

Thus, during our time of great upheaval we should ask ourselves; what constitutes the persisting "ruling system," of the United States, and where do the injustices in its state of affairs truly originate from?

The tragedy of Hamlet does not just lie in the action (or lack of action) of one man, but rather, it is contained in the choices and actions of all its main characters. Each character fails to see the longer term consequences of their own actions, which leads not only to their ruin but towards the ultimate collapse of Denmark. The characters are so caught up in their antagonism against one another that they fail to foresee that their very own destruction is intertwined with the other.

This is a reflection of a failing system.

A system that, though it believes itself to be fighting tooth and nail for its very survival, is only digging a deeper grave. A system that is incapable of generating any real solutions to the problems it faces.

The only way out of this is to address that very fact. The most important issue that will decide the fate of the country is what sort of changes are going to occur in the political and intelligence apparatus, such that a continuation of this tyrannical treason is finally stopped in its tracks and unable to sow further discord and chaos.

When the Matter of "Truth" Becomes a Threat to "National Security"

When the matter of truth is depicted as a possible threat to those that govern a country, you no longer have a democratic state. True, not everything can be disclosed to the public in real time, but we are sitting on a mountain of classified intelligence material that goes back more than 60 years.

How much time needs to elapse before the American people have the right to know the truth behind what their government agencies have been doing within their own country and abroad in the name of the "free" world?

From this recognition, the whole matter of declassifying material around the Russigate scandal in real time, and not highly redacted 50 years from now, is essential to addressing this festering putrefaction that has been bubbling over since the heinous assassination of President Kennedy on Nov. 22nd, 1963 and to which we are still waiting for full disclosure of classified papers 57 years later.

If the American people really want to finally see who is standing behind that curtain in Oz, now is the time.

These intelligence bureaus need to be reviewed for what kind of method and standard they are upholding in collecting their "intelligence," that has supposedly justified the Mueller investigation and the never-ending Flynn investigation which have provided zero conclusive evidence to back up their allegations and which have massively infringed on the elected government's ability to make the changes that they had committed to the American people.

Just like the Iraq and Libya war that was based off of cooked British intelligence (refer here and here ), Russiagate appears to have also had its impetus from our friends over at MI6 as well. It is no surprise that Sir Richard Dearlove, who was then MI6 chief (1999-2004) and who oversaw and stood by the fraudulent intelligence on Iraq stating they bought uranium from Niger to build a nuclear weapon, is the very same Sir Richard Dearlove who promoted the Christopher Steele dossier as something "credible" to American intelligence.

In other words, the same man who is largely responsible for encouraging the illegal invasion of Iraq, which set off the never-ending wars on "terror," that was justified with cooked British intelligence is also responsible for encouraging the Russian spook witch-hunt that has been occurring within the US for the last four years over more cooked British intelligence, and the FBI and CIA are knowingly complicit in this.

Neither the American people, nor the world as a whole, can afford to suffer any more of the so-called "mistaken" intelligence bumblings. It is time that these intelligence bureaus are held accountable for at best criminal negligence, at worst, treason against their own country.

When Great Figures of Hope Are Targeted as Threats to "National Security"

The Family Jewels report , which was an investigation conducted by the CIA to investigate itself, was spurred by the Watergate Scandal and the CIA's unconstitutional role in the whole affair. This investigation by the CIA reviewed its own conduct from the 1950s to mid-1970s.

The Family Jewels report was only partially declassified in June 25, 2007 (30 years later). Along with the release of the redacted report included a six-page summary with the following introduction:

"The Central Intelligence Agency violated its charter for 25 years until revelations of illegal wiretapping, domestic surveillance, assassination plots, and human experimentation led to official investigations and reforms in the 1970s." [emphasis added]

Despite this acknowledged violation of its charter for 25 years, which is pretty much since its inception, the details of this information were kept classified for 30 years from not just the public but major governmental bodies and it was left to the agency itself to judge how best to "reform" its ways.

On Dec. 22, 1974, The New York Times published an article by Seymour Hersh exposing illegal operations conducted by the CIA, dubbed the "family jewels". This included, covert action programs involving assassination attempts on foreign leaders and covert attempts to subvert foreign governments, which were reported for the first time. In addition, the article discussed efforts by intelligence agencies to collect information on the political activities of US citizens.

Largely as a reaction to Hersh's findings, the creation of the Church Committee was approved on January 27, 1975, by a vote of 82 to 4 in the Senate.

The Church Committee's final report was published in April 1976, including seven volumes of Church Committee hearings in the Senate.

The Church Committee also published an interim report titled "Alleged Assassination Plots Involving Foreign Leaders", which investigated alleged attempts to assassinate foreign leaders, including Patrice Lumumba of Zaire, Rafael Trujillo of the Dominican Republic, Ngo Dinh Diem of Vietnam, Gen. René Schneider of Chile and Fidel Castro of Cuba. President Ford attempted to withhold the report from the public, but failed and reluctantly issued Executive Order 11905 after pressure from the public and the Church Committee.

Executive Order 11905 is a United States Presidential Executive Order signed on February 18, 1976, by a very reluctant President Ford in an attempt to reform the United States Intelligence Community, improve oversight on foreign intelligence activities, and ban political assassination.

The attempt is now regarded as a failure and was largely undone by President Reagan who issued Executive Order 12333 , which extended the powers and responsibilities of US intelligence agencies and directed leaders of the US federal agencies to co-operate fully with the CIA, which was the original arrangement that CIA have full authority over clandestine operations (for more information on this refer to my papers here and here ).

In addition, the Church Committee produced seven case studies on covert operations, but only the one on Chile was released, titled " Covert Action in Chile: 1963–1973 ". The rest were kept secret at the CIA's request.

Among the most shocking revelation of the Church Committee was the discovery of Operation SHAMROCK , in which the major telecommunications companies shared their traffic with the NSA from 1945 to the early 1970s. The information gathered in this operation fed directly into the NSA Watch List. It was found out during the committee investigations that Senator Frank Church, who was overseeing the committee, was among the prominent names under surveillance on this NSA Watch List.

In 1975, the Church Committee decided to unilaterally declassify the particulars of this operation, against the objections of President Ford's administration (refer here and here for more information).

The Church Committee's reports constitute the most extensive review of intelligence activities ever made available to the public. Much of the contents were classified, but over 50,000 pages were declassified under the President John F. Kennedy Assassination Records Collection Act of 1992.

President Kennedy was assassinated in Dallas, Texas on Nov. 22nd, 1963. Two days before his assassination a hate-Kennedy handbill (see picture) was circulated in Dallas accusing the president of treasonous activities including being a communist sympathizer.

On March 1st, 1967 New Orleans District Attorney Jim Garrison arrested and charged Clay Shaw with conspiring to assassinate President Kennedy, with the help of David Ferrie and others. After a little over a one month long trial, Shaw was found not guilty on March 1st, 1969.

David Ferrie, a controller of Lee Harvey Oswald, was going to be a key witness and would have provided the "smoking gun" evidence linking himself to Clay Shaw, was likely murdered on Feb. 22nd, 1967, less than a week after news of Garrison's investigation broke in the media.

According to Garrison's team findings, there was reason to believe that the CIA was involved in the orchestrations of President Kennedy's assassination but access to classified material (which was nearly everything concerning the case) was necessary to continue such an investigation.

Though Garrison's team lacked direct evidence, they were able to collect an immense amount of circumstantial evidence, which should have given the justification for access to classified material for further investigation. Instead the case was thrown out of court prematurely and is now treated as if it were a circus. [Refer to Garrison's book for further details and Oliver Stone's excellently researched movie JFK ]

To date, it is the only trial to be brought forward concerning the assassination of President Kennedy.

The Assassination Records Review Board (ARRB) was created in 1994 by the Congress enacted President John F. Kennedy Assassination Records Collection Act of 1992, which mandated that all assassination-related material be housed in a single collection within the National Archives and Records Administration. In July 1998, a staff report released by the ARRB emphasized shortcomings in the original autopsy.

The ARRB wrote , "One of the many tragedies of the assassination of President Kennedy has been the incompleteness of the autopsy record and the suspicion caused by the shroud of secrecy that has surrounded the records that do exist." [emphasis added]

The staff report for the Assassinations Records Review Board contended that brain photographs in the Kennedy records are not of Kennedy's brain and show much less damage than Kennedy sustained.

The Washington Post reported :

Asked about the lunchroom episode [where he was overheard stating his notes of the autopsy went missing] in a May 1996 deposition, Finck said he did not remember it. He was also vague about how many notes he took during the autopsy but confirmed that 'after the autopsy I also wrote notes' and that he turned over whatever notes he had to the chief autopsy physician, James J. Humes.

It has long been known that Humes destroyed some original autopsy papers in a fireplace at his home on Nov. 24, 1963. He told the Warren Commission that what he burned was an original draft of his autopsy report. Under persistent questioning at a February 1996 deposition by the Review Board, Humes said he destroyed the draft and his 'original notes.'

Shown official autopsy photographs of Kennedy from the National Archives, [Saundra K.] Spencer [who worked in 'the White House lab'] said they were not the ones she helped process and were printed on different paper. She said 'there was no blood or opening cavities' and the wounds were much smaller in the pictures [than what she had] worked on

John T. Stringer, who said he was the only one to take photos during the autopsy itself, said some of those were missing as well. He said that pictures he took of Kennedy's brain at a 'supplementary autopsy' were different from the official set that was shown to him. [emphasis added]

This not only shows that evidence tampering did indeed occur, as even the Warren Commission acknowledges, but this puts into question the reliability of the entire assassination record of John F. Kennedy and to what degree evidence tampering and forgery have occurred in these records.

We would also do well to remember the numerous crimes that the FBI and CIA have been guilty of committing upon the American people such as during the period of McCarthyism. That the FBI's COINTELPRO has been implicated in covert operations against members of the civil rights movement, including Martin Luther King Jr. during the 1960s. That FBI director J. Edgar Hoover made no secret of his hostility towards Dr. King and his ludicrous belief that King was influenced by communists, despite having no evidence to that effect.

King was assassinated on April 4th, 1968 and the civil rights movement took a major blow.

In November 1975, as the Church Committee was completing its investigation, the Department of Justice formed a Task Force to examine the FBI's program of harassment directed at Dr. King, including the FBI's security investigations of him, his assassination and the FBI conducted criminal investigation that followed. One aspect of the Task force study was to determine "whether any action taken in relation to Dr. King by the FBI before the assassination had, or might have had, an effect, direct or indirect, on that event."

In its report , the Task Force criticized the FBI not for the opening, but for the protracted continuation of, its security investigation of Dr. King:

"We think the security investigation which included both physical and technical surveillance, should have been terminated in 1963. That it was intensified and augmented by a COINTELPRO type campaign against Dr. King was unwarranted; the COINTELPRO type campaign, moreover, was ultra vires and very probably felonious."

In 1999, King Family v. Jowers civil suit in Memphis, Tennessee occurred, the full transcript of the trial can be found here . The jury found that Lloyd Jowers and unnamed others, including those in high ranking positions within government agencies, participated in a conspiracy to assassinate Dr. King.

During the four week trial, it was pointed out that the rifle allegedly used to assassinate King did not have a scope that was sighted, which meant you could not have hit the broad side of a barn with that rifle, thus it could not have been the murder weapon.

This was only remarked on over 30 years after King was murdered and showed the level of incompetence, or more likely, evidence tampering that was committed from previous investigations conducted by the FBI.

The case of JFK and MLK are among the highest profile assassination cases in American history, and it has been shown in both cases that evidence tampering has indeed occurred, despite being in the center of the public eye. What are we then to expect as the standard of investigation for all the other cases of malfeasance? What expectation can we have that justice is ever upheld?

With a history of such blatant misconduct, it is clear that the present demand to declassify the Russiagate papers now, and not 50 years later, needs to occur if we are to address the level of criminality that is going on behind the scenes and which will determine the fate of the country.

The American People Deserve to Know

Today we see the continuation of the over seven decades' long ruse, the targeting of individuals as Russian agents without any basis, in order to remove them from the political arena. The present effort to declassify the Russiagate papers and exonerate Michael Flynn, so that he may freely speak of the intelligence he knows, is not a threat to national security, it is a threat to those who have committed treason against their country.

On Oct. 6th, 2020, President Trump ordered the declassification of the Russia Probe documents along with the classified documents on the findings concerning the Hillary Clinton emails. The release of these documents threatens to expose the entrapment of the Trump campaign by the Clinton campaign with help of the US intelligence agencies.

The Director of National Intelligence John Ratcliffe released some of these documents recently, including former CIA Director John Brennan's handwritten notes for a meeting with former President Obama, the notes revealing that Hillary Clinton approved a plan to "vilify Donald Trump by stirring up scandal claiming interference by the Russian security service."

Trey Gowdy, who was Chair of the House Oversight Committee from June 13th, 2017 – Jan. 3rd, 2019, has stated in an interview on Oct. 7th, 2020 that he has never seen these documents. Devin Nunes, who was Chair of the House Intelligence Committee from Jan. 3rd, 2015 – Jan. 3rd, 2019, has also said in a recent interview that he has never seen these documents.

And yet, both the FBI and CIA were aware and had access to these documents and sat on them for four years, withholding their release from several government-led investigations that were looking into the Russiagate scandal and who were requesting relevant material that was in the possession of both intelligence bureaus. Do these intelligence bureaus sound like they are working for the "national security" of the American people?

The truth must finally be brought to light, or the country will rot from its head to tail.

Reprinted with permission from Strategic Culture Foundation .


[Oct 20, 2020] America At The Point Of No Return: in their disdain of ordinary people neoliberal elite starts to resemble Busheviks elite

Oct 20, 2020 | www.zerohedge.com

... ... ...

Anton notes that the founders believed that the American Revolution was grounded in universal truths, "but they did not expect their declaration to revolutionize the world - nor were they under any illusion that it, or they, had the power to do so... America is - in the words of John Quincy Adams - 'the well-wisher to the freedom and independence of all' but also 'the champion and vindicator only of her own.'"

Those who wish to restore these principles face a challenge of unprecedented severity. Anton argues that an elite based in certain blue states disdains ordinary Americans.

" The core message of the meta-Narrative is that America is fundamentally and inherently racist, sexist, homophobic, xenophobic, Islamophobic, transphobic, and so on. The flaws and sins of America derive directly from those of its founding stock, who are natural predators, inherently racist, and malevolent."

Elite policy is at its worst in California, now under the near-total domination of the left wing of the Democratic Party.

"In modern California, hypocrisy and double-standardism aren't merely part of the business climate; they're endemic to the whole society ...

Sam Francis dubbed this system 'anarcho-tyranny': complete freedom - even exemption from the gravest laws - for the favored, maximum vindictive enforcement against the pettiest infractions on the disfavored."

Anton fears that if President Trump isn't reelected, the Democrats will seek actively to suppress whomever in the red states challenges them, and they will prove very difficult to dislodge from power.

Who are the ordinary Americans the elite disdains, and who are the elite? The ordinary Americans are those whom Hillary Clinton called "deplorables," i.e., white males who value their family, their religion, and their property, including their guns.

"Funny thing, too: a core tenet of modern liberalism is supposed to be the sanctity of 'one man, one vote.' Except, you know, not really. The barely concealed presupposition of denouncing Republicans as 'racists' simply because whites vote for them is that all votes are not created equal. Votes of color are morally superior to white votes, which are inherently tainted. Which is why the left holds any election won by a Republican to be morally if not (yet) politically illegitimate. "

The elite consists at its core of wealthy financiers and business interests allied with government. It is buttressed by professionals who have attended top universities, especially those of the Ivy League. In a way that readers of Hunter Lewis on "crony capitalism" will recognize, Anton writes:

" So-called 'public-private cooperation' will increase. This benign-sounding phrase -- who could object to 'cooperation,' to government and business 'solving problems together'? -- masks a darker reality. What it really describes is the use of state power to serve private ends, at private direction. Hence foreign policy...will be further reoriented around securing trade, tax, and labor 'migration' patterns and paradigms that benefit finance and big business."

If elite dominance continues, Anton predicts that those of us who dissent will be rigidly restricted.

" Free speech as we have known it - as our founders insisted was the bedrock of political rights, without which self-government is impossible - will not survive coming leftist rule. The playbook is already being expanded to include banking and credit. Getting on the wrong side of elite-woke opinion is increasingly to find oneself locked out of the financial system: no bank account, no credit card, no ability to get a loan or pay a mortgage. Pay cash? The move to a 'cashless society'...will obviate that option right quick. "

lay_arrow 1

Izzy Dunne , 3 hours ago

Whoever wins this election, America loses.

That which has been started will never go away.

Agenda 21 and The Great Reset.

Trump or Biden? Both will bend the knee.

Best Satan in Town , 2 hours ago

It's looking that way. I'm waiting to see what side of this Trump ultimately takes. On the one hand he's in bed with serious criminals of 9/11 like Rudy Gulliani and arch-spooks like Michael Flynn (who co-wrote a book on psychological operations with satanist Michael Aquino) who have been made into heroes because of the "post postmodern bead game" known as QAnon.

[Oct 20, 2020] What if neither Democrats nor Republicans want to win in 2020- No one wants the task of changing the full diaper of US Empire -- RT Op-ed

Oct 20, 2020 | www.rt.com

What if neither Democrats nor Republicans want to win in 2020? No one wants the task of changing the full diaper of US Empire Helen Buyniski Helen Buyniski

is an American journalist and political commentator at RT. Follow her on Twitter @velocirapture23 18 Oct, 2020 20:23 Get short URL What if neither Democrats nor Republicans want to win in 2020? No one wants the task of changing the full diaper of US Empire "Vote for that guy!" "No, vote for that guy!" © Reuters / Brian Snyder 126 Follow RT on RT Watching the many stumbles of both President Donald Trump and Democrat challenger Joe Biden on the campaign trail, one can't help but wonder if either really wants to win. Who'd want the thankless job of cleaning up such a mess?

Whoever wins the 2020 election will be immediately confronted with a full plate of thorny political issues, from impossible national debt to unwinnable (and apparently unendable) foreign wars to artificially-amplified racial strife to metastasizing income inequality to a pandemic that seems determined to put the last nail in the coffin of the US Empire.

No matter his actions, the winner will be blamed for everything that happens on his watch – never mind that these catastrophes have been decades in the making, and a single man stopping them is no more possible than halting an avalanche. In this light, Biden's doddering-old-man persona and Trump's own bewildering missteps make perfect sense. What sane candidate would want to be left holding the bag of crumbling American hegemony?

ALSO ON RT.COM Trump-Biden debate put US democracy on display – we're now little more than the world's laughing stock armed with nukes World War III

" President 46 " may see the long-threatened start of World War III. Thanks to decades of overspending on unwinnable foreign wars against a vague conceptual enemy (" terrorism ") that the mighty wurlitzer of the US propaganda establishment has tied to countries that pose no legitimate threat to the American people, the US is has all but bankrupted itself destroying the Middle East. Despite promising to end the devastating quagmire in 2016, Trump poured ever more resources into the region to exert " maximum pressure " on Iran, the one country left standing of the " seven countries in five years " General Wesley Clark infamously claimed the Bush administration's bloodthirsty neocons had targeted for regime change.

The US spends more on its military than the next seven countries combined – or than 144 other countries put together, according to 2018 figures, but somehow can't keep from arming its enemies too. Perhaps the Pentagon just feels sorry for them and wants to try to ensure a fair fight, but this ill-thought-out policy has equipped groups like Islamic State (IS, formerly ISIS/ISIL) to stage false-flag attacks that can then be blamed on governments like Syria or Iran and used to justify the expansion of the never-ending war.

After taking millions of dollars in donations from rabid pro-Israel ideologues like Sheldon Adelson and Paul Singer, Trump basically owes them their war on Iran, as they've made it clear that merely tearing up the JCPOA Iran nuclear deal wasn't enough. But his reluctance to actually follow through beyond round after round of devastating sanctions suggests he doesn't have the stomach for a full-on ground invasion. And Biden worked under Barack Obama, who actually defied the US' Middle Eastern taskmaster to sign that nuclear deal in the first place. Neither really wants that war, but it seems inevitable.

Beating Big Tech READ MORE How is the US election going to be any more legitimate than the 'rigged' Belarus vote? How is the US election going to be any more legitimate than the 'rigged' Belarus vote?

Whoever wins in 2020 will face a reckoning with a technology sector that has become in many ways more powerful than the government itself. Twitter and Facebook have taken to poking the president in the eye by shadowbanning or even removing his posts, rubbing their power in Trump's face, and Google and Amazon have so much dirt on the CIA, FBI, and DHS they could take down the whole system if some crusading president (or prosecutor) crosses them.

And what can Washington do? Government agencies have been using Big Tech as a workaround to skirt the First and Fourth Amendments for years. Constitutionally barred from censoring political speech themselves, they have merely leaned on Facebook, YouTube and Twitter to shut down 'conspiracy theories' and other wrongthink and used specially-built backdoors to poke around in users' private lives without the hassle of warrants. Companies that allow these abuses are rewarded with protection of their monopoly status and billions in profits.

Despite an executive order and a lot of bluster threatening Big Tech's Section 230 protections, Trump has not made any real efforts to halt the ongoing censorship by social media of his most vociferous supporters – perhaps realizing these firms are de facto military contractors whose participation in the information war propping up US empire is vital to that empire's continued existence. And while Biden has been treated relatively well by Big Tech thus far, he needs the support of progressive Democrats in order to beat Trump, a group that has been subject to the same censorship as the pro-Trump conservative Right. The likelihood that he will stand up to Big Tech to win over this group is approximately zero.

My Pet Rioters

So much hype has come out of both parties about a stolen election or " coup " that, whatever the result in November, violent street clashes are inevitable. If the winner tells the rioters to sit down and shut up, he'll be seen as capitulating to the system he was supposed to bring to heel. If he cheers them on, he risks losing the support of law enforcement and the military - which could really hasten the collapse of the empire. Neither Trump nor Biden – both old men a decade past traditional retirement age – want that kind of trouble.

ALSO ON RT.COM US politicians are too old and the short-term philosophy this encourages creates a vicious circle that is dooming the country

Record levels of income inequality, plus the economic fallout of suicidally-stupid government responses to the Covid-19 pandemic, have pushed the American public into a state of panicked desperation. More than ever, they're wondering where their next meal will come from and how they'll pay the rent. But thanks to decades of dumbing-down imposed in the guise of public schooling, most lack the vocabulary to articulate these problems or trace them to their proximate causes (namely, a rapacious ruling class that is frantically asset-stripping the nation in the hope of getting out with the cash before the whole thing blows sky-high). Neither party's rhetoric is helping: Biden's " team " blames white supremacy, while Trump's blames crypto-communists.

Whoever gets elected has to follow through on the absurd fantasy they've spun to explain the nation's problems to their followers while unwinding their opponent's reasoning – not an enviable task. The Democrats have so amplified the " threat " of racism that a white person declaring him- or herself " not a racist " is actually deemed racist in itself, and Republicans have bizarrely declared anyone to the left of Ronald Reagan to be " radical leftists " bent on turning the US into Venezuela at a time when most Americans could desperately use some socialist-style government programs to get them back on their feet.

As November 3 looms, both candidates have seemingly been campaigning for their opponent. Biden urged voters who thought they were better off under Trump to reelect him earlier this week), while Trump recently threatened to hold cash-strapped Americans' Covid-19 aid hostage until after the election, only reversing course in the face of public outcry. Whoever is left holding the potentially-explosive hegemonic hot potato, their job as chief rearranger of deck chairs on the rapidly-sinking Titanic of empire is nothing to envy.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

Geraldmu 1 day ago The mess that the US is in, is home made. The SARS cov 2 virus is not so dangerous, when you consider that many deaths are those of people already close to the grave and next year there will be a deficit of deaths vz a normal year. Some countries have reacted much better than the US or the UK or most European countries: Taiwan, South Korea, Sweden that have not torpedoed their economy and rather test and isolate instead of lockdowns, partial or total. Reply 21 Winter7Mute 1 day ago Divided States of America, its been this way since when i entered the world in 1970's. And its still divided now in 2020. Americans enjoy rationalizing, instead of seeking the truth in all facets of life. That is why they embrace that saying "the truth hurts". I like the truth, even if it hurts emotionally. Its simple and requires very few words.
Juan_More Winter7Mute 1 day ago Stephen Colbert when he had the "Colbert Report" came up with a word that truly typifies the American experience. He coined the word truthiness /ˈtro͞oTHēnis/ noun - the quality of seeming or being felt to be true, even if not necessarily true. fazul Winter7Mute 1 day ago It was around that time when the US presidency lost control over the MIC and the deep state. Like it or not, around that time America was an obstacle to the new world order, so division and a demoralization campaign was performed. Iris15 1 day ago Great article. The fact that Biden isn't eager to win the presidency was visible many times. Trump often appears exhausted from all the criticism lobbed his way and close to a feeling "why should I care if this turns out right". Which means, no matter who wins, it will be Netanyahu and the Zionists who govern US policy in accord completely with the deep state. There is nothing to win in this election for the voter and people know it. Iris15 Iris15 1 day ago Antifa was used to stage race riots as a distraction from the vacuum in the Dem party: racism is all it has to offer but no solution on how to overcome it. There are no great economic solutions in the making and short of just such an economic miracle, misery will be long and desperate. And people know it. The election lost its luster as neither candidate has any real agenda and solution to deal with the pandemic and the tanking economy. Juan_More 1 day ago A well written OpEd piece. But she has left out the egos of these two clow . . er . . . politicians. Neither of them will settle for anything less than a scorched earth victory. We see it in themselves and in their parties. My crystal ball keeps coming up armed insurrection in the US regardless of who wins and the imposition of martial law in many states and possibly the entire country. As always there is an unasked question, "What will the Generals do?" Will they mobilise the troops to restore order (martial law), under Congress or will the restore order under a military junta? Good luck to all my American friends, you are going to need it over the next few months if there is no clear winner.

[Oct 19, 2020] Hunter Biden's Laptop -Is Not Some Russian Disinformation Campaign-; DNI Ratcliffe Slams Schiff

Oct 19, 2020 | www.zerohedge.com

It appears the "Russia, Russia, Russia" cries from Adam Schiff and his dutiful media peons is dead (we can only hope) as Director of National Intel John Ratcliffe just confirmed to Foxx Business' Maria Bartiromo that:

"Hunter Biden's laptop is not part of some Russian disinformation campaign."

As Politico's Quint Forgey details (@QuintForgey) , DNI Ratcliffe is asked directly whether accusations leveled against the Bidens in recent days are part of a Russian disinformation effort.

He says no:

"Let me be clear. The intelligence community doesn't believe that because there is no intelligence that supports that."

" We have shared no intelligence with Chairman Schiff or any other member of Congress that Hunter Biden's laptop is part of some Russian disinformation campaign. It's simply not true. "

"And this is exactly what I said would I stop when I became the director of national intelligence, and that's people using the intelligence community to leverage some political narrative."

"And in this case, apparently Chairman Schiff wants anything against his preferred political candidate to be deemed as not real and as using the intelligence community or attempting to use the intelligence community to say there's nothing to see here."

"Don't drag the intelligence community into this. Hunter Biden's laptop is not part of some Russian disinformation campaign. And I think it's clear that the American people know that."

Of course, this 'fact' from 'intelligence' is unlikely to stop the "emails are Russian" narrative growing ever louder as MSM attempt to distract from the actual content of the emails. As Caitlin Johnstone noted:

So "the emails are Russian" narrative serves the interests of political convenience, partisan media ratings, and the national security state's pre-planned agenda to continue escalating against Russia as part of its slow motion third world war against nations which refuse to bow to US dictates, and you've got essentially no critical mainstream news coverage putting the brakes on any of it. This means this narrative is going to become mainstream orthodoxy and treated as an established fact, despite the fact that there is no actual, tangible evidence for it.

Joe Biden could stand in the middle of Fifth Avenue and shoot somebody, and the mainstream press would crucify any journalist who so much as tweeted about it. Very little journalism is going into vetting and challenging him, and a great deal of the energy that would normally be doing so is going into ensuring that he slides right into the White House.

If the mainstream news really existed to tell you the truth about what's going on, everyone would know about every questionable decision that Joe Biden has ever made, Russiagate would never have happened, we'd all be acutely aware of the fact that powerful forces are pushing us into increasingly aggressive confrontations with two nuclear-armed nations, and Trump would be grilled about Yemen in every press conference.

But the mainstream news does not exist to tell you the truth about the world. The mainstream news exists to advance the interests of its wealthy owners and the status quo upon which they have built their kingdoms. That's why it's so very, very important that we find ways to break away from it and share information with each other that isn't tainted by corrupt and powerful interests.

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890

* * *

As we detailed previously, as the Hunter Biden laptop scandal threatens to throw the 2020 election into chaos with what appears to be solid, undisputed evidence of high-level corruption by former Vice President Joe Biden and his son Hunter, the same crowd which peddled the Trump-Russia hoax is now suggesting that Russia is behind it all .

To wit, House Intelligence Committee Chairman Adam Schiff, who swore on National television that he had evidence Trump was colluding with Russia - now says that President Trump is handing the Kremlin a "propaganda coup from Vladimir Putin."

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Senator Chris Murphy (D-CT) has gone full tin-foil , suggesting that Giuliani was a 'key target' of 'Kremlin constructed anti-Biden propaganda.'

2/ Russia knew it had to play a different game than 2016. So it built an operation to cull virulently pro-Trump Americans as pseudo-assets, so blind in their allegiance to Trump that they'll willingly launder Kremlin constructed anti-Biden propaganda.

Guiliani was a key target.

-- Chris Murphy (@ChrisMurphyCT) October 17, 2020

Headlines in major publications are perhaps even more conspiratorial:

And of course, propagandists are doing their thing...

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Yet, if one looks at the actual facts of the case - in particular, that Hunter Biden appears to have dropped his own laptops off at a computer repair shop, signed a service ticket , and the shop owner approached the FBI first and Rudy Giuliani last after Biden failed to pick them up, the left's latest Russia conspiracy theory is quickly debunked .

* * *

Authored by Larry C Johnson via Sic Semper Tyrannis (emphasis ours)

This is the story of an American patriot, an honorable man, John Paul Mac Issac, who tried to do the right thing and is now being unfairly and maliciously slandered as an agent of foreign intelligence, specifically Russia. He is not an agent or spy for anyone. He is his own man. How do I know? I have known his dad for more than 20 years. I've known John Paul's dad as Mac. Mac is a decorated Vietnam Veteran, who flew gunships in Vietnam. And he continued his military service with an impeccable record until he retired as an Air Force Colonel. The crews of those gunships have an annual reunion and Mac usually takes John Paul along, who volunteers his computer and video skills to record and compile the stories of those brave men who served their country in a difficult war.

This story is very simple – Hunter Biden dropped off three computers with liquid damage at a repair shop in Wilmington, Delaware on April 12, 2019. The owner, John Mac Issac, examined the three and determined that one was beyond recovery, one was okay and the data on the harddrive of the third could be recovered. Hunter signed the service ticket and John Paul Mac Issac repaired the hard drive and down loaded the data . During this process he saw some disturbing images and a number of emails that concerned Ukraine, Burisma, China and other issues . With the work completed, Mr. Mac Issac prepared an invoice, sent it to Hunter Biden and notified him that the computer was ready to be retrieved. H unter did not respond . In the ensuing four months (May, June, July and August), Mr. Mac Issac made repeated efforts to contact Hunter Biden. Biden never answered and never responded. More importantly, Biden stiffed John Paul Mac Issac–i.e., he did not pay the bill.

When the manufactured Ukraine crisis surfaced in August 2019, John Paul realized he was sitting on radioactive material that might be relevant to the investigation. After conferring with his father, Mac and John Paul decided that Mac would take the information to the FBI office in Albuquerque, New Mexico. Mac walked into the Albuquerque FBI office and spoke with an agent who refused to give his name. Mac explained the material he had, but was rebuffed by the FBI. He was told basically, get lost . This was mid-September 2019.

Two months passed and then, out of the blue, the FBI contacted John Paul Mac Issac. Two FBI agents from the Wilmington FBI office–Joshua Williams and Mike Dzielak–came to John Paul's business . He offered immediately to give them the hard drive, no strings attached. Agents Williams and Dzielak declined to take the device .

Two weeks later, the intrepid agents called and asked to come and image the hard drive. John Paul agreed but, instead of taking the hard drive or imaging the drive, they gave him a subpoena. It was part of a grand jury proceeding but neither agent said anything about the purpose of the grand jury. John Paul complied with the subpoena and turned over the hard drive and the computer.

In the ensuing months, starting with the impeachment trial of President Trump, he heard nothing from the FBI and knew that none of the evidence from the hard drive had been shared with President Trump's defense team.

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The lack of action and communication with the FBI led John Paul to make the fateful decision to contact Rudy Giuliani's office and offer a copy of the drive to the former mayor. We now know that Rudy accepted John Paul's offer and that Rudy's team shared the information with the New York Post.

John Paul Mac Issac is not responsible for the emails, images and videos recovered from Hunter Biden's computer. He was hired to do a job, he did the job and submitted an invoice for the work. Hunter Biden, for some unexplained reason, never responded and never asked for the computer. But that changed last Tuesday, October 13, 2020. A person claiming to be Hunter Biden's lawyer called John Paul Mac Issac and asked for the computer to be returned. Too late. That horse had left the barn and was with the FBI.

John Paul, acting under Delaware law, understood that Hunter's computer became the property of his business 90 days after it had been abandoned.

At no time did John Paul approach any media outlet or tabloid offering to sell salacious material . A person of lesser character might have tried to profit. But that is not the essence of John Paul Mac Issac. He had information in his possession that he learned, thanks to events subsequent to receiving the computer for a repair job, was relevant to the security of our nation. He did what any clear thinking American would do–he, through his father, contacted the FBI. When the FBI finally responded to his call for help, John cooperated fully and turned over all material requested .

The failure here is not John Paul's . He did his job. The FBI dropped the ball and, by extension, the Department of Justice. Sadly, this is becoming a disturbing, repeating theme–the FBI through incompetence or malfeasance is not doing its job.

Any news outlet that is publishing the damnable lie that John Paul is part of some subversive effort to interfere in the United States Presidential election is on notice. That is slander and defamation. Fortunately, the evidence from Hunter Biden's computer is in the hands of the FBI and Rudy Giuliani and, I suspect, the U.S. Senate. Those with the power to do something must act. John Paul Mac Issac's honor is intact. We cannot say the same for those government officials who have a duty to deal with this information.

* * *

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[Oct 19, 2020] The neocon/NATO aggressive expansionism and anti-Russian hysteria has many purposes, but one is surely domestic repression: to gaslight and cause fear-the-foreign-bogeyman trauma among the American and British people

Highly recommended!
Notable quotes:
"... The neocon/NATO aggressive expansionism has many purposes, but one is surely domestic repression: to gaslight and cause fear-the-foreign-bogeyman trauma among the American and British people as a whole and make most of them become docile and lose their critical thinking skills and their ability to analyze their own societies. ..."
"... One of the best ways to lobotomize the publics of the US and UK is to very gradually impose martial law in the name of protecting national security and ensuring peace and harmony at home. ..."
Oct 19, 2020 | www.moonofalabama.org

Dao Gen ,

Dao Gen , Oct 17 2020 18:05 utc | 19

The neocon/NATO aggressive expansionism has many purposes, but one is surely domestic repression: to gaslight and cause fear-the-foreign-bogeyman trauma among the American and British people as a whole and make most of them become docile and lose their critical thinking skills and their ability to analyze their own societies.

One of the best ways to lobotomize the publics of the US and UK is to very gradually impose martial law in the name of protecting national security and ensuring peace and harmony at home.

After several color revolutions succeeded, the Russiagate/Spygate op was carried out in the US, with British assistance. This op has been largely successful, though there has been limited resistance against its whole fake edifice as well as with the logic of Cold War2.0. Nevertheless, Spygate has shocked many tens of millions of Dems into a stupor, while millions more are dazed and manipulated by the Chinese bogeyman being manufactured by Trump.

The most dangerous result of the martial law lite mentality caused by Spygate and its MSM purveyors is the growing support for censorship of free speech coming mostly from the Dems, such as Schiff and Warner. The danger inherent in this trend became very clear when FaceBook and Twitter engaged in massive and unprecedented arbitrary censorship of the New York Post and of various Trump-related accounts.

This is the kind of thing you do during Stage 1 of a coup. Surely it was at least in part an experiment to see how various power points in the US would respond. Even though Twitter ended the censorship later, it was probably a successful experiment designed to gauge reactions and areas of resistance.

In November, there could be further, more serious experiments/ops. If so, the current expansionist movements being made and planned by the US and NATO may well be integral parts of a new non-democratic model of "American-style democracy" -- not constitution-based but "rules-based."

[Oct 16, 2020] The Backlash Against the [neo]Liberal World Order

Oct 16, 2020 | www.theamericanconservative.com

The Backlash Against The Liberal World Order

Global liberalism has overreached, and Trump and others are merely predictable reactions. (By Brandon Stivers/Shutterstock)

OCTOBER 15, 2020

|

12:01 AM

ROBERT MERRY

John J. Mearsheimer of the University of Chicago, one of the country's leading scholars of international relations, recently received the prestigious James Madison Award, administered by the American Political Science Association. In accepting the honor Mearsheimer delivered a notable lecture entitled "Liberalism and Nationalism in Contemporary America" (scheduled for publication in a journal called PS ). It's a remarkably penetrating and astute explication of American politics in our troubled times.

The central reality of today's political landscape, in Mearsheimer's view, is that the post-Cold War period of "unbounded liberalism" -- stretching roughly from 1990 to 2016 -- is about to be supplanted by an ascendant wave of nationalism. This is just a little difficult to credit, given the hegemonic force of liberalism in the firmament of American politics since the end of the Cold War and its hearty embrace by nearly all of the country's major elite institutions, including the Democratic Party, prestigious universities, influential think tanks, the popular culture, the big banks, big tech, big corporations, and most of big media.

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But Mearsheimer posits a "core claim" that, when the balance of power in any polity shifts so heavily toward liberalism that it poses a mortal threat to nationalism, as happened in much of the West after the Cold War, a backlash inevitably ensues. Then, says Mearsheimer, "nationalism wins almost every time, because it is the most powerful political ideology in the modern world." We saw this in the watershed year of 2016, when Donald Trump became the American president and Britain voted to leave the European Union. "This upsurge of nationalism," says Mearsheimer, "has continued unabated since 2016."

To understand Mearsheimer's thesis, it's necessary to grasp fully what he means by liberalism and nationalism. Liberalism's first principle is the sanctity of the individual and the individual's "inalienable rights," including the right to pursue one's own concepts of the good life. This leads to a strong norm of tolerance and a stern injunction for people to "live and let live." Liberalism also advocates a national government powerful enough to protect individuals from each other and guarantee their rights, but not so powerful that it encroaches on those rights. The ultimate aim, though, is for individuals to have as much freedom as possible in their personal lives, within the context of civic harmony.

In economic terms, this leads to laissez faire thinking -- the breakdown of economic barriers, free trade, property rights, market forces. In philosophical terms, it includes "a powerful universalist dimension." Liberals strongly embrace the view that their outlook applies to all humankind, everywhere and at all times.

In contrast to liberalism's universalist ethos, nationalists are particularists. They believe that people are "born into and thrive in social groups that mold their identities and command their loyalties." And the most significant of all social groups is the nation. As Mearsheimer says:

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Nations need political institutions to help their membes live together peacefully and productively. They need rules that define acceptable and unacceptable behavior and also stipulate how disputes will be settled. Nations also need political institutions to help shield them from other nations that might have an incentive to attack .Since the early 1500s, the dominant political form of the planet has been the state. Nations therefore want their own state, because that is the best way to survive and prosper.

Mearsheimer identifies four features of nationalism that have helped shape the centuries-long era of the nation-state:

It isn't difficult to see that liberalism and nationalism are in many ways contradictory outlooks and hence often "conflictual." Sometimes, though, the two -isms can actually mesh in positive ways, resulting in a harmonious civic balance. Such an equilibrium has existed in much of American history. But liberalism, steeled by its triumphant rise at the end of the Cold War, set out to marginalize or even nullify American nationalism, and that eventually unleashed the potent backlash we're seeing now. In many ways, suggests Mearsheimer, Trump's 2016 election can be seen as "nationalism's revenge."

And we can see from our own recent history, and that of other Western nations, that when liberalism gains near hegemonic power in a polity it poses a severe threat to nationalism. Liberal individualists, viewing themselves primarily as "egoistic utility maximizers," tend to undermine the nationalist sense of oneness. They seek to weaken national identity. Embracing the universalist concept of a common humanity, they seek to break down national borders and the very concept of sovereignty. They hail the emergence of a global elite, "tied together by shared economic interests and social networks, and with its own identity as 'citizens of the world.'" They work to foster an open international economy that further weakens state borders and state identity.

In short, unbounded liberalism inevitably launches a frontal attack on the very concept of a cohesive, hard-shell state. Such attacks serve, as intended, to encourage citizens to lose faith in the state. This erosion of national solidarity in turn unleashes societal tension and even chaos, because nationalism serves as a kind of civic glue that helps hold a society together. Remove the glue, and liberalism loses its ability to uphold national cohesiveness. When that happens, the impulse of liberal leaders is to inject more individualism and more universalism into the polity, thus exacerbating the gathering crisis of "liberalism on steroids," as Mearsheimer calls it.

That's what happened in America during what Mearsheimer calls "liberalism's golden age." The answer to porous borders generating increasing civic tensions was to open the borders further. The answer to a free trade regimen encouraging greater mercantilist aggressiveness among some U.S. trading partners was an even greater commitment to free trade. The growing problem of wealth inequality stirred the elites to embrace laissez-faire economics even more tightly as the rise of gargantuan tech empires further exacerbated inequality. And what was the response to America's awakening to the fact that the country's universalist warmaking was undermining America's cohesiveness and financial stability? Under presidents George W. Bush and Barack Obama, it was a tendency toward more warmaking.

That's because the liberal tenets of individualism, universalism, the virtue of the transnational elite, and the sanctity of identity thinking were driving politics and policy in America. The liberal moment was embraced to a significant extent by both political parties, and there was hardly a nationalist counterweight of any consequence on the scene.

Indeed, in liberalism's heyday many in the West viewed nationalism as a political corpse. Mearsheimer quotes historian Jill Lepore (a universalist liberal of the first order) as writing, "It appeared to some globalists that nationalism had died."

And then came Trump and Brexit, following nationalist triumphs in Hungary and Poland, along with concurrent nationalist surges in numerous other European nations. "The unbounded liberalism that dominated the political landscape in the United States after the Cold War is in serious crisis," says Mearsheimer, "mainly because it threatened American nationalism, which has reasserted itself under President Trump."

One can question Trump's competence as president, "and I would be among the first to do so," says Mearsheimer, "but there is no question that he has pursued a nationalist agenda from the beginning of his political career and that it helped propel him into the White House." Indeed, Mearsheimer makes clear, in recounting evidence of Trump's nationalist ethos, that the real estate mogul's most significant distinguishing characteristic as a national politician was his understanding, alone among presidential contenders in 2016, that America was in the midst of an epic struggle between liberalism and nationalism. But, if Trump has benefitted from nationalism's resurgence, he didn't cause it. "His election," says Mearsheimer, "was the manifestation of a process that was well under way by 2016."

And it is ongoing. "Although liberalism is here to stay," says Mearsheimer, "the United States will continue to be a liberal nation-state, not just a liberal state. Nationalism remains the world's most formidable political ideology and neither it nor the nation state is going away anytime soon."

That calls into question some prevailing assumptions of our time. Many adherents of liberalism seem to harbor a view that, as soon as Trump is extracted from the political scene (which seems likely to happen soon), then everything can return to normal, meaning back to the days of liberal hegemony. If Mearsheimer is correct, that isn't likely. The struggle between the two -isms will continue, perhaps even more intensely joined than ever, as nationalism seeks to claw its way back at least to parity with the forces of liberalism. One thing can be predicted: we will continue to live through interesting times.

Robert W. Merry, former Wall Street Journal Washington correspondent and Congressional Quarterly CEO, is the author of five books on American history and foreign policy.


Gaius Gracchus 2 days ago

There is need for a liberal state to embrace universalism. That is an aspect of French liberalism more than Anglo-American liberalism. But even that is secondary to the effort by the rich and powerful to break down the nation state and create a global regime that will rule and exploit.

Even more than individualism, liberalism needs the rule of law. When the rules are set up and enforced, it protects the individual and the market, especially from the crony capitalist.

Every time punishment of the rich and powerful is ignored, everyone loses a little more faith in the system. And corruption grows.

For liberalism to work, it must oppose concentrated power, something Adam Smith knew, but the oligarchs and their shills tried to cover up ever since.

Besides, no one is an atomized individual. Everyone is connected to someone or something or somewhere and ignoring that only creates more problems. People need to feel connected and the absence leads to depression and anxiety.

Kenneth_Almquist 2 days ago

The problem with nationalism, at least in its present incarnation, it that it doesn't seem to be about actually advancing the national interest. Bush's justification for invading Iraq didn't actually make logical sense. I guess it made emotional sense to American nationalists.

"Nationalists particularly want their nations to be free from encumbering outside influences." So they voted for Trump, who welcomed Russian interference in the 2016 election.

Trump's major legislative achievement was to cut taxes on the rich. That's his response to "the growing problem of wealth inequality."

As a result of Brexit, the UK will have less power and influence, which I suspect will leave it with less ability to control its own destiny than if it had stayed in, giving it a seat at the table when EU policies that affect the UK are set. But at least the UK theoretically gets an increase in capacity for independent action in exchange for that loss of influence. Nationalism in the United States appears to stand for the proposition that America's interests should be represented by someone who is not interested in advancing America's interests and who would be incompetent to do so even if he were.

In principle, nationalism is not necessarily a bad thing, but I worry that nationalism as actually practiced, as opposed to some theoretical ideal of nationalism, will severely damage the United States.

IanDakar Kenneth_Almquist a day ago

I have a suspicion that the general public, not the HIGHLY vocal extreme or the politicians, but the general voting public that leans right, is very interested in a general nationalistic trend. Much of the same voting public that leans left, while having an interest in being involved in national affairs (by that I mean good relations with nations and/or aid to nations in trouble, not foreign fighting) would be interested in many of the aspects of nationalism, such as lowering the influence of international corporations (more because of the 'corporation' part than the 'international' but still).

The problem is that the vocal side of politics, not just the leaders but the vocal minority of both groups, has a VERY different desire, whether it's military conquest, a racist motive, or a dream of globalism. The voters are then left to choose the least ugliest of the voices to stand behind. I put that for both 2016 on the right and 2020 on the left.

Victor_the_thinker IanDakar a day ago

Lessening the power of corporations is NOT nationalism. That is garden verity left politics.

Bureaucrat IanDakar a day ago

The greatest leader in American history would be someone who can bring both those right/left instincts together in a unifying manner. I fear I won't see that person in my lifetime.

joeo Kenneth_Almquist a day ago

Why is it ok for the US to interfere in Russian affairs but the reverse is unconscionable? The US starts wars all over the planet but North Korea is the warmonger? It is wrong for China to assert itself but we have troops in Japan and Korea with our Navy in the South China Sea. Trump starts no wars and tries to protect industries for which the elite revile him.

patrick Kenneth_Almquist a day ago

We are soon to have president Harris. Seemingly the choice of no one. Whatever nationalistic impulses exist at the moment will be completely erased under the banner of multiculturalism. To combat "white supremacy" we will be urged to cancel ourselves and many will.

Bureaucrat Kenneth_Almquist a day ago • edited

Bush's efforts to remake the Middle East in America's image is a prime example of liberal internationalism, very much the antithesis to nationalism. The foundational core of universalism is that everyone and every society craves the "universal values" on individual rights (vs. social cohesion). This was the animating purpose of Bush Jr.'s foreign policy after 9/11, the ideal that those Middle Eastern people would instinctively embrace our political and social values. What Mearshimer diagnoses is that the post-Cold War mentality amplified efforts to destroy the careful balance every country has struck (between national cohesion and universal values).

Kenneth_Almquist Bureaucrat a day ago

George W. Bush addressing the nation of March 17, 2003: "The United States and other nations did nothing to deserve or invite this threat. But we will do everything to defeat it. Instead of drifting along toward tragedy, we will set a course toward safety. Before the day of horror can come, before it is too late to act, this danger will be removed."

The invasion wasn't justified by an appeal to liberal internationalism. It was justified as a necessary act of self defense. The rhetoric from conservatives was us vs. them. Republican lawmakers started calling French fries "freedom fries" because the French government wanted any WMD possessed by Saddam to be eliminated without a war.

Now, you can make a case that the exit strategy (such as it was) was based on a belief in liberal internationalism, but I think you could equally make the case that it was based a nationalistic belief in the superiority of the American way of life.

Bureaucrat Kenneth_Almquist a day ago • edited

The false messaging on "national interests" via self-defense is a given, another example of political elites trying to reframe their priorities to placate the masses. But if you can't see the lie from the motive, then I can't help you there.

Kessler Kenneth_Almquist 18 hours ago

Of course justifications to get people on board was nationalistic sentiments. But the execution was pure liberal internationalism. A nationalistic foreign policy would have been laser focused on getting people responsible and not doing a bunch of nation building in countries, that had nothing to do with attacks.

Civis Romanus Sum Kenneth_Almquist 11 hours ago

Bush and his journalistic enablers repeatedly said that they wanted to make Iraq into a democracy that would serve as a model for other Arab and Muslim states. You can't get more "liberal internationalist" than that.

Jihadi Colin Kenneth_Almquist a day ago

"Russian interference"

Bwahahahahahahaha.

ekaneti Jihadi Colin an hour ago

In other words election interference

Kessler Kenneth_Almquist 18 hours ago

The current ruling class is liberal to the core - even if their voters want nationalism, they have trouble delivering it. The signal just doesn't transmit from the bottom, through democratic instiutions to the top. That`s why idiotic wars don't end and corporations get bailed out before actual people.

Victor_the_thinker 2 days ago

Another over interpretation of the Trump win in 2016. Trump lost the popular vote. He was only president because of a fluke in our system. People act as if that fluke is the same thing as actually representing a national majority. It really isn't. Now we're seeing the actual majority turn out like never before in living memory to vote against Trump and his administration. People have weeks to vote and yet are choosing to stand in 10 hour lines today because their antipathy to this president is white hot.

C. L. H. Daniels Victor_the_thinker a day ago

If you think Trump is a fluke, you are going to be in for an entire series of rude awakenings in the years to come.

Victor_the_thinker C. L. H. Daniels a day ago

Losing the popular vote yet winning the election has happened 5 times in the entire history of the US. Only 1 of those 5 times has the president who did this, win re-election. Trump is absolutely a fluke. He's never had majority support and his base is dying.

Magua1952 Victor_the_thinker a day ago

The electoral college is not a "fluke in our system". It was designed by the writers of the Constitution. Virginia was the most populated state. Pennsylvania was second. New York was third. The other states didn't want most power centralized in the middle Atlantic states. Two Senators were assigned to every state and the electoral college was devised. This modified the power of the larger states. Without this compromise we might not have the United States. It was a brilliant compromise and it remains so.

Before you celebrate the landslide victory by the anti-Trumpers take a look at political rallies. Trump gets many thousands. Biden attracts a dozen or two. We saw this in 2016. If the Democrats were able to field a credible person for president they might be in a better position. None of their candidates were even adequate. Personally I think Bernie Sanders was the best they had but Americans are not ready for socialism and the Ds knew it.

Pete Barbeaux Magua1952 a day ago • edited

Everything you just said is total nonsense. He wasn't even talking about the entire EC being a fluke. He was saying that thin margin EC victories when you lose the popular vote, are a fluke . Literally. It's only happened 3 times.

Also, Trump's WWE rallies attracting the Cult is totally irrelevant.

ekaneti Victor_the_thinker an hour ago

The EC is not a fluke. It is a feature

ekaneti Victor_the_thinker an hour ago

""People have weeks to vote and yet are choosing to stand in 10 hour lines
today because their antipathy to this president is white hot.""

You polled them on how they intend to vote?

Victor_the_thinker 2 days ago

This is real populism right here. Small dollar donors have raised $1.5 billion for democrats through ActBlue. Regular people around the country donating $10 at a time. All of this fire to be trained on republicans this year up and down the ballot. November is looking like it could be a bloodbath. When the people actually turn out to have their voices heard, they are quite powerful.

https://www.politico.com/ne...

ekaneti Victor_the_thinker an hour ago

So you think that 150 million people gave to ActBlue?

Revanchist a day ago • edited

Let's not beat around the bush. The underlying lynchpin here is race. Those living in the western world who are of European descent are realizing that the multiculturalism imposed by globalism will mean the disinheritance of their own culture and their children's future. Amnesty, affirmative action and race based reparations that favor non-whites will intensify to solidify the globalist coalition. Our elites are at war with the founding stock of the nation. Within the next decade at least 80% of what remains of the white Christian majority will be voting for nationalist parties and policies. It won't be a matter of racism...it will be a matter of survival.

Pete Barbeaux Revanchist a day ago

Shorter Revanchist:
"14 words"

Victor_the_thinker Pete Barbeaux a day ago

Some fool will be on here saying "I've never seen any racism posted at TAC" I'm sure.

ekaneti Victor_the_thinker an hour ago

If Indians were to oppose 100 million Chinese immigrating to India, would they be racist?

Bureaucrat Revanchist a day ago • edited

Again, as I responded earlier, your left-liberal perspective that nationalism is a white supremacist ideology is ironically devoid of understanding the views and history of the Global South and non-Western countries, most of whom reject the notion of liberal universalism. It reminds me of the type of "UNESCO universalist" white liberal that the communist philosopher Slavoj Zizek mocked:

"That's why white liberals love identity politics. It means minorities can have their particular identities, while we renounce our identity but keep the roles as guardians of universality."

Watch the video starting at 1:50:

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Wallstreet Panic Bureaucrat 10 hours ago

Slavoj is drinking vodka out of a plastic bottle. Never a good sign.

Bureaucrat Wallstreet Panic 8 hours ago

Funny! But do you instinctively resort to ad hominem to rebut hard-to-handle truths, or was it a learned character trait?

Pete Barbeaux a day ago

In every place that has Trumpy reactions, those people represent 30% or less of their national population. A loud sycophantic minority.

gVOR08 Pete Barbeaux a day ago

That. These people aren't the silent majority they believe themselves to be, but an annoyingly loud minority.

ekaneti Pete Barbeaux an hour ago

What is a "Trumpy reaction"

RAF a day ago

The central reality of today's political landscape, in Mearsheimer's view, is that the post-Cold War period of "unbounded liberalism" -- stretching roughly from 1990 to 2016 -- is about to be supplanted by an ascendant wave of nationalism.

---------------------------------------------

Not a wave of Nationalism...but a wave of White/Christian nationalism. Big difference.

Revanchist RAF a day ago

The Western nation states were founded by white Christians. So a rise in western nationalism would logically be European and Christian in nature. Just as a rise in Indian nationalism is Indian and Hindu in nature. Or a rise in Mexican nationalism is Latino and Catholic in nature. That is what a nation truly is, a body politic that forms around a community that is rooted in common culture and heritage.

RAF Revanchist a day ago

The Western nation states were founded by white Christians
----------------------------------
The "Founding Fathers" were mostly Deists and Masons. Jefferson was just one example. John Adams was a Unitarian etc. (They were not atheists !)

Re Jefferson who was the primary author of the Constitution...America was NOT founded as a Christian nation.

"""Where the preamble declares, that coercion is a departure from the plan of the holy author of our religion, an amendment was proposed by inserting "Jesus Christ," so that it would read "A departure from the plan of Jesus Christ, the holy author of our religion;"

the insertion was rejected by the great majority,

in proof that they meant to comprehend, within the mantle of its protection, the Jew and the Gentile, the Christian and Mohammedan, the Hindoo and Infidel of every denomination.

-Thomas Jefferson, Autobiography, in reference to the Virginia Act for Religious Freedom

"Believing with you that religion is a matter which lies solely between man and his God, that he owes account to none other for his faith or his worship, that the legislative powers of government reach actions only, and not opinions, I contemplate with sovereign reverence that act of the whole American people which declared that their legislature should 'make no law respecting an establishment of religion, or prohibiting the free exercise thereof,' thus building a wall of separation between church and State.

-Thomas Jefferson, letter to Danbury Baptist Association, CT., Jan. 1, 1802

"The whole history of these books [the Gospels] is so defective and doubtful that it seems vain to attempt minute enquiry into it: and such tricks have been played with their text, and with the texts of other books relating to them, that we have a right, from that cause, to entertain much doubt what parts of them are genuine. In the New Testament there is internal evidence that parts of it have proceeded from an extraordinary man; and that other parts are of the fabric of very inferior minds. It is as easy to separate those parts, as to pick out diamonds from dunghills"
.
-Thomas Jefferson, letter to John Adams, January 24, 1814
________________________________________
Christianity neither is, nor ever was a part of the common law.

-Thomas Jefferson, letter to Dr. Thomas Cooper, February 10, 1814

Revanchist RAF a day ago

While Christianity was never the official state religion of the United States it is undeniable that is deeply intertwined with our European cultural identity. Take a look at what book the President places his hand on when sworn in to office.

Charles Revanchist 11 hours ago • edited

"Take a look at what book the President places his hand on when sworn in to office."

Except in the case of Muslim office holders, it's the Koran for instance. I would assume that
officeholders of whatever religious beliefs would lay their hand on that person's religious symbol.

Civis Romanus Sum a day ago

Also important is the fact that liberalism (as defined in the article) is really only popular and powerful in Western countries (i.e. Western Europe and its colonial offshoots like the USA). And even in Western countries, there are serious challenges to it.

Meanwhile, the rising powers of the world (primarily China, but also India, Russia, and so on) are very anti-liberal and highly nationalistic. That's about 80-90% of the world's population. A century where China is hegemonic and these other countries are powerful is likely to be very illiberal. And since the hegemon influences everybody, it is likely that this anti-liberal culture will influence the Western countries as well.

Revanchist Civis Romanus Sum a day ago • edited

After World War II American liberalism was attractive to much of the world because it was centered around freedoms of virtue such as freedom of speech and freedom of religion. The rest of the world yearned for this kind of governance and our country was held in high esteem. The "freedoms" or "human rights" as they are now promoted by the American empire are freedoms of vice such as abortion, pornography and all sorts of sexual deviancy. The world is no longer buying what we are selling...and i can't blame them.

kenofken Revanchist a day ago

And yet no one at all is running toward these virtuous illiberal nations.

For such a horrible perverted place as we are, we sure have a lot of people clawing to get here.

Bureaucrat Revanchist a day ago

I can't believe you're not reading the article and Mearshimer carefully. He is not advocating an EITHER-OR embrace of liberalism and nationalism. The article argues for a balance, where too much of one paradigm can both be destructive. This is what the United States had for most of its history, and indeed is true for non-Western countries like Communist China (embracing elements of Western socialism), Japan (embracing a managed form of democracy, but certainly not free trade/mass immigration), or India (same embrace of some democracy, but restrained by caste and regional differences) have tried to balance. Those non-Western countries, as articulated by former Singaporean autocrat Lee Kwan Yew, believe in the value of collective cohesion as much (if not more) than individual liberty. Those are sentiments of balancing nationalism, far from a full-throated support for universal liberalism.

Hector_St_Clare Revanchist a day ago

People follow the strong horse, once America and other liberal powers are no longer the strongest horse (and that day is coming sooner or later, China is on track to be the world's largest economy within a decade or two), then liberalism is no longer going to look remotely attractive to most of the world.

GaryH a day ago

The weakness of the article is that Imperialism is ignored. Imperialism always eventually destroys most of what is good, positive about any Nationalism. And Imperialism always makes alliance with Liberalism in order to keep the good in Nationalism (both the Nationalism in conquered nations and the Nationalism in the conquering nation become an Empire) from having any chance to revive.

Liberalism without any hint of Imperialism may be tolerable and even pleasant, but outside Switzerland and post-WW2 Scandinavia it may never have existed in any area larger than an homogenous small town/county. Nationalism fueled with Imperialism becomes a Hell of its own.

The great problem is the imperial mindset, the drive for Empire.

TreeofLiberty a day ago • edited

..... " Nations need political institutions to help their members live together peacefull y and productively. They need rules that define acceptable and unacceptable behavior and also stipulate how disputes will be settled. "
- JOHN MEARSHEIMER

This quite succinctly describes that which is failing in the U.S. today.

1. Merely by checking in with the daily news cycle we see that some of us have no intention to " live together peacefully and productively ."
2. Likewise, ' acceptable and unacceptable behavior ," on which there used to be pretty widespread general agreement, has been turned in to relative definitions by the political Left , for their own debauched and highly-politicized purposes; and in the process, has given a sense of license to the un-peaceful.
.
.
..... " This erosion of national solidarity in turn unleashes societal tension and even chaos "
- ROBERT MERRY

Precisely as we witness today, from the purveyors of tension and chaos, the DestructocRAT Party.
.
.
..... " when the balance of power in any polity shifts so heavily toward liberalism that it poses a mortal threat to nationalism . . nationalism wins almost every time "
- R. M.

I looked in vain for Mr. MERRY's historical examples to illustrate this theory, but found only his reference to the current period; 1990 to today.
That seems a bit thin, for such a strong assertion.
.

M Orban TreeofLiberty a day ago

Lithium is not working as well as it once used to.

Woland M Orban 11 hours ago

The problem is that the people who need it cannot be relied on to properly cook their batteries.

WilliamRD a day ago

"In economic terms, this leads to laissez faire thinking -- the breakdown of economic barriers, free trade, property rights, market forces. In philosophical terms, it includes "a powerful universalist dimension." Liberals strongly embrace the view that their outlook applies to all humankind, everywhere and at all times."

There is nothing laissez faire about governments printing money and manipulating their currencies to achieve a trade advantage. Also with the dollar being the reserve currency the FED has to provide the rest of the world with dollars to keep the global economy moving. Thus our producers are always at a disadvantage because the dollar is much stronger against the rest of the world.

WHEN IS "FREE-TRADE" NOT FREE-TRADE? WHEN IT'S DONE WITH FAKE, A.K.A., "FIAT" MONEY

http://fame.org/when-is-fre...

Kent a day ago

I'm not sure I like the use of language in this article. We are using "liberalism" when in the US he is describing "libertarianism". Most of us associate liberalism with the philosophy of redistributing the fruits of capitalism to those harmed by capitalist interests, as a mechanism for maintaining a favorable national attitude towards capitalism.

In the US, it is libertarianism that, philosophically, wants to maximize the autonomy of the individual. That promotes globalism and open borders.

I also see the definition of "nationalism" being pretty much the definition of conservative. So in the end, if you replace liberalism with libertarianism and nationalism with conservativism, the article makes much more sense.

This isn't a left-right issue. It is a right-right issue.

And in my view, the solution is the redistributive liberalism with a healthy conservative view of society that prevailed in the country for much of the 20th century.

[Oct 14, 2020] The Vatican's calculated snub of Mike Pompeo exposes the limits of his evangelical, ideological, China-hating foreign policy -- RT Op-ed

Oct 14, 2020 | www.rt.com

The Vatican's calculated snub of Mike Pompeo exposes the limits of his evangelical, ideological, China-hating foreign policy 30 Sep, 2020 16:19 Get short URL The Vatican's calculated snub of Mike Pompeo exposes the limits of his evangelical, ideological, China-hating foreign policy FILE PHOTO: U.S. Secretary of State Mike Pompeo © Getty Images / Alex Wong 182 1 Follow RT on RT

Tom Fowdy is a British writer and analyst of politics and international relations with a primary focus on East Asia.

His Holiness declining to meet the US secretary of state when he visited the Vatican on his European tour further proves that his misguided America-first chauvinism is alienating more nations than it's winning as friends.

Pompeo, everyone's favourite Cold Warrior and American chauvinist, is on a European tour . Visiting Greece, Italy, Croatia, and notably, the Vatican, the secretary of state is on a roll to win support for American security and energy interests across the region. But he wasn't welcomed by all. Attending the Holy See today, the US' 'top diplomat' found himself snubbed by the Pope as he rolled into town peddling his vitriolic anti-China agenda, and demanding the Church take on Beijing and refuse to renew a deal that gives it a say in the appointment of bishops within that country. Pope Francis wasn't too impressed and refused to meet him accordingly.

The snub is significant, because it reflects more broadly how Pompeo's highly aggressive and evangelical foreign policy agenda is being received around the world. In short, it's a shambles. Rather than respectfully and constructively engage with the interests of other countries, on his watch, the State Department does nothing but pressure other nations. And it does this while parroting the clichéd talking points of American exceptionalism, hysterical anti-Communism, and a refusal to take into account the interests and practicalities faced by its partners. The Vatican has its differences with Beijing, but how would embarking on a collision course help it or the cause of Catholics in China? It wouldn't.

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Pompeo is repeatedly described by major US newspapers, the Washington Post among them, as " the worst secretary of state in American history," and it's no surprise why. Diplomacy requires the skills of understanding, prudence, compromise, calibration, and negotiation. The current man in charge of America's relations with the rest of the world has none of those in his armoury – only a one-sided diatribe about how every nation Washington holds a grudge against is evil and a threat to the world, and the US' own political system is far superior (as demonstrated by last night's presidential debate, perhaps ?). Pompeo repeatedly positions himself as speaking on behalf of other nations' people against their governments, while pushing a policy that amounts to little more than bullying.

A look at Pompeo and the State Department's Twitter feed shows it to be a unilateral, repetitive loop of the following topics: 'The Chinese Communist Party is evil and a threat to the world', 'Iran is an evil terrorist state', American values are the best', 'We stand with the people of X', and so on, ad nauseam. To describe it as hubris would be generous, and, of course, it does nothing to support the equally inadequate foreign policy of the United States in practice. This is further distorted by the unilateralist and anti-global governance politics of Donald Trump, which place emphasis only on the projection of power to force other countries into capitulating to American demands.

Against such a backdrop, it's no surprise that a toxic mixture of foreign policymaking has led to other countries not being willing to take notice of Washington. It's winning neither hearts nor minds, and it's this that has set the stage for not only the Vatican snub, but the largely fruitless outcomes of his European adventures. Pompeo's visit to Greece produced no meaningful agreements or outcomes of note , and he failed to get Athens to publicly commit to any anti-China measures or even statements. A similar non-result was achieved from his visit to the Czech Republic a month or so ago – the Czech prime minister even came out and played down Pompeo's comments , after he engaged in a spree of anti-Beijing vitriol.

So, what's at stake for the Vatican? Undoubtedly, religion is a sensitive topic in mainland China. The Chinese state sees unfettered religion as a threat to social stability, or as a potential vehicle for imperialism against the country, and thus has aimed to strongly regulate it under terms and conditions set by the state.

ALSO ON RT.COM Oxford University's 'scholarly' RT hit piece has no room for the mundane reality of how the world's news organisations work

This has caused tensions with the Roman Catholic Church, which maintains a strict ecclesiastical hierarchy, answering to the Vatican and not national governments. With China being the world's most populous country, having among its vast population nine million Catholics, this means the Church has had to negotiate and compromise with the Beijing government to maintain its influence and control, and to secure the rights of its members to worship. This has resulted in a 'deal' whereby the Vatican can have a say in the appointment of its bishops in China, rather than the Church being completely subordinate to the government.

But Pompeo doesn't care about these sensitivities – he wants one thing: Cold War. He wants unbridled, unrestrained, and evangelical condemnation of China and, as noted above, is utilizing his 'diplomatic visits' to push that demand. However, building a foreign policy on preaching America First unilateralism, chauvinism, and zero compromise not surprisingly has its limitations. As a result, Pompeo is finding himself isolated and ignored in more than a few areas. Thus it was that, rather than completely squandering the Vatican's interests in diplomacy with China, Pope Francis simply refused to meet him. For someone as fanatically religious and pious as Pompeo, that's a pretty damning indictment of the incompetence within the US State Department right now.

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[Oct 11, 2020] Cover Your Ass-- The Guiding Principle Of Our Time -

Oct 11, 2020 | www.zerohedge.com

Authored by Louis-Vincent Gave via Gavekal Research,

What is the dominant guiding principle of western societies today?

At the risk of sounding crass, let me suggest that it is the "cover your ass" or CYA principle. This principle has always been fairly prominent in participative democracies. But now it has gone into hyper-drive - so much so, that the CYA principle is also now an important driving force even in financial markets.

CYA and Covid-19

Take the response to Covid-19 as an example of the CYA principle in action. Is there any doubt that the rush to lock down economies and suspend normal civil rights -- to go to church, to attend school, to visit friends -- in the face of Covid was driven largely by policymakers' fears that if large numbers of people died, they would be held accountable in the court of public opinion?

Of course, no policymakers want a surge in deaths on their watch. But economies did not get shut down during the 2009 swine flu pandemic, nor during Sars in 2003, the Hong Kong flu pandemic of 1969, nor even the Spanish flu pandemic of 1918. So what changed between the time of Sars and the time of Covid? One obvious answer is the rise of social media.

Now that every policy choice is reviewed and debated in real time by millions of people around the world, CYA has become all-important. Politicians have to put policies in place to hedge against the wildest tail risks imaginable. At the same time, the first instinct of policymakers (and of investors -- but more on this later) is to avoid doing anything that diverges too far from the pack. Any policymaker anywhere looking at the opprobrium heaped on Sweden will surely agree with John Kenneth Galbraith's observation that "it is far, far safer to be wrong with the majority than to be right alone".

Once Denmark and Norway had decided to follow Italy's lead and lock down their populations, any western government that did not follow suit risked being accused of playing Russian roulette with people's lives, regardless of the epidemiological evidence. Unfortunately, we still seem stuck in this mindset, even as the weekly death tolls across western countries have dipped to generational lows, almost regardless of the Covid policies they adopted (see the chart below).

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So, we should all be grateful that Donald Trump appears to be bouncing back from his brush with Covid having taken little harm. Firstly, of course, Trump is human, and it doesn't do to wish harm on another human. Secondly, if Covid were to have taken Trump's life, it would have claimed the highest profile victim possible. And after the death of the US president, who can doubt that anti-Covid measures would become even more liberticidal. Regardless what you think of Trump, that would be a very bearish development, at least for "Covid-victims" such as energy names, airlines, casinos, hotels, and restaurants , all of which are desperate for policymakers to acknowledge that Covid-19 no longer seems to be as lethal as it was six months ago.

CYA and the fiscal and monetary policy mix

Moving on to the far less controversial fiscal and monetary policy responses to the recession, can there be any doubt -- again -- that policy is being driven above all by the CYA principle? What policymaker wants to espouse the Hippocratic principle of "first, do no harm," and let markets and prices find their own footing? None. As Anatole has argued, policymakers are scrambling always to do more, with ever-bigger budget deficits funded by ever-more money printing ( see Will A Keynesian Phoenix Arise From Covid? ).

Can this new enthusiasm for budget deficits and money printing guarantee prosperity? It seems to for some individual stocks. But for the broad market? Perhaps not, or at least not in "real terms". Take the equal-weighted S&P 500 as a proxy for the typical equity portfolio (appropriate now a handful of mega-cap names dominate the cap-weighted index), and discount it by the gold price to get a picture of equity returns adjusted for currency debasement.

When US governments keep spending under control, as Bill Clinton's did in the 1990s or the Tea-Party-led Congress did after 2011, the broad equity market goes through long phases of "rerating" against gold (see the chart below).

And when the government embraces expanding budget deficits funded by the Federal Reserve, as with George W Bush's "guns and butter" policies or Donald Trump's rapid deficit expansion, gold massively outperforms the broad equity market. Where does this leave us today? Since 2014, the equal-weighted S&P 500 has delivered the same returns as a pet rock -- gold. This is because the index has lost a third of its value since making a high in September 2018, and has basically been flat-lining since late April (see the chart below).

This may help to put the current debate on US stimulus into context. First, does anyone doubt that the US government will release a tsunami of new spending after the election? Because of the CYA principle, what policymaker will want to be seen to be blocking recovery? Secondly, will this increase in budget deficits, funded by the printing press, trigger stronger economic growth? If so, why weren't we doing it before? Will it lead to higher asset prices? If so, why are we so far off the 2018 high? Or will it mean further currency debasement? Looking at the ratio between the equal-weighted S&P 500 and the gold price, will a new round of stimulus mean a return to the February 2020 high? Or will it see the March 2020 low taken out?

Another way to look at this problem is through the prism of the US dollar. Will another round of fiscal stimulus be dollar-bullish? Or will it be dollar-bearish? The answer matters greatly to all those foreign investors currently seeking shelter in US equities. For them, the return on US equities has been flat since late May - and going further back, flat since mid-2019.

So, if another round of stimulus weakens the US dollar, as seems likely if the stimulus is funded by the Fed, then foreign investors will have to hope that increased equity values will more than compensate for their foreign exchange losses.

CYA and indexing

This brings me to what is likely the most important element of all this for readers: the CYA principle and investing. Gavekal has written at length about the dangers of indexing (see, for example, Exponential Optimization). We have also argued that indexing is the new in-vogue form of socialism. Capital is not allocated according to its marginal return -- the foundation on which capitalism rests. Instead, capital is allocated according to the size of companies. Just as in the days of the old Soviet Union or Maoist China, the bigger you are, the more capital you get. It is hard to think of a stupider way to allocate one of the key resources on which future growth relies. So why is indexing so popular? Simple: it is the ultimate CYA strategy.

As Charlie Munger likes to say: "Show me the incentives, and I will show you the outcome." In a world where every money manager is told his or her target is to achieve a performance close to that of the index, it is hardly surprising that ever-more money ends up getting indexed ( see Indexation = Parasitism ). As a consequence, over the years the dispersion of results among money managers has become smaller and smaller.

Now, the Holy Grail of money management is to achieve decent long term returns combined with low volatility in those returns. However, in a world where ever-more capital is directed into investments that outperform -- playing momentum rather than mean reversion -- you inherently end up with greater volatility all round. Take the past few years as an example: since January 2018, the S&P 500 equal-weighted index has suffered six corrections of -10% or greater, including one -20% drop and one -40% drop. In contrast, in the preceding two years -- January 2016 to January 2018 -- the S&P 500 did not see a single -10% drop, while the July 2016 to January 2018 period didn't even see a -5% drop. Clearly, something in the environment has changed.

More indexing makes sense from a CYA perspective, but ends up delivering lower returns and higher volatility all round. This stands to reason. If capital is allocated only according to marginal variations in the price of an asset, then the more the asset's price rises, the more capital money managers will allocate to that asset. And the more an asset's price falls, the less capital is allocated to it. Such momentum-based investing inevitably creates an explosive-implosive system, which swings wildly from booms to busts and back again. And in the process, capital gets misallocated on a grand scale.

In the 20th century, the goal of every socialist experiment was for everybody to earn the same salary. In the 21st century, it seems that the goal of indexing is for everybody to earn the same return. As we now know, fixing everyone's return on labor at the same price was a disaster. People stopped working, and economic growth plummeted. Fast forward to today, and why should we expect a different outcome if the end-goal of our investment strategy is to ensure that everyone gets the same return, not on the their labor but on their capital? Isn't the entire world of money management now oriented towards delivering this remarkable ambition?

And should we really be surprised if the growth rates of our economies continue to slip? Why should we expect a positive growth outcome from an epic misallocation of capital? Take the current Big Tech craze as an example: everything is organized for investors to sink ever more capital into those very companies that need it least, and whose best use for this gusher of money is typically to buy back their own shares.

This CYA investment-decision-making process appears to be one of the key drivers behind the recent divergence between the S&P 500 market-capitalization-weighted index, and the S&P 500 equal-weighted index.

But it may also explain an interesting point raised by my friend Vincent Deluard, strategist at StoneX. In a recent tweet (he's well worth following) he noted that each of the last four major market corrections bottomed out in the last week of the quarter, just after the index futures expired. Now, this could be a remarkable coincidence. On the other hand, it might say a great deal about how capital is allocated today.

Conclusion

In A Study Of History, Arnold Toynbee reviewed the rise and fall of the world's major civilizations. He showed that throughout history, when any civilization was confronted with a challenge, one of two things could occur. The elite could step up and tackle the problem, allowing the civilization to continue to thrive. Alternatively, the elite could fail to deal with the problem. In this case, as the problem grew, their failure led to one of three outcomes.

1) A change of elite. An example is the clear-out of the French political class at the time of decolonization. As the old Fourth Republic stalwarts struggled to meet the challenges of Asian and African independence movements, they were replaced by Charles de Gaulle who brought in new personnel and established the institutions of the Fifth Republic.

2) A revolution. Obvious examples include the French revolution, with the bourgeoisie taking over from the aristocracy, and the American revolution, with the local elite taking power from the British king.

3) A civilizational collapse. Examples include the collapse of the Aztec, Mayan and Inca civilizations following the arrival of the conquistadores. Another is the disappearance of the Visigoths in Spain and North Africa following the Arab-Muslim invasions at the start of the eighth century.

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With this framework in mind, how does CYA as an organizational policy approach help in dealing with challenges? The obvious answer is that if CYA is your guiding principle, the problems you chose to tackle will be those where there is little controversy within the elite about the required solutions.

This explains the constant hectoring about tackling climate change. Here, policymakers can promise to spend lots of money, without leaving their backsides too exposed. This accounts for the dramatic divergence between the performance of green energy producers (who produce energy) and carbon energy producers (who also produce energy).

It may also explain the rush towards ever-more European integration, as if the real challenge facing Europe today is a resurgence of the Franco-German rivalry that tore the continent apart in the 19th and 20th centuries. Policymakers can spend entire weekends in summit meetings debating European integration. This allows them to feel useful and important, even if their debates increasingly seem about as relevant as the debates of the Byzantines over the gender of angels even as the Turks were storming their city. But while pushing for more European integration might not tackle any of the issues European voters actually care about, at least it doesn't leave your behind exposed.

This brings me back to Karl Popper's theory that at any one time, there is a set amount of risk in the system. Any attempt to contain this risk either displaces it to somewhere else, or stores it up for later. If Popper was right, then the extreme aversion of our policymakers to taking risks means that the risk must appear elsewhere. But where? Perhaps in financial markets? It does seem not only that spikes in the Vix have been getting sharper lately, but that the Vix is also staying more elevated than you would expect in the middle of a roaring bull market.

Or, to put it another way, over the past few years, it does seem that the "downside gaps" in markets have started to become more vicious.

So perhaps CYA makes sense in today's financial markets. The challenge, of course, has become finding the instruments that allow you to cover your posterior. In March 2020, as equity markets tanked, government bonds did not diversify portfolios adequately. And in September, as equities fell -10% from peak to trough, bonds also failed to deliver offsetting positive returns.

This new development -- that US treasuries no longer offer CYA protection for equity investors in difficult times -- is an important one. It makes allocating capital to either equities or bonds a lot more challenging. Or at least it becomes a lot more challenging if you are compelled to follow contemporary western society's all-important guiding principle: CYA.

[Oct 06, 2020] -Joe Biden's 'war economy' policies are a radical break with the status quo.- Telegraph - Sic Semper Tyrannis

Oct 06, 2020 | turcopolier.typepad.com

"Joe Biden's 'war economy' policies are a radical break with the status quo." Telegraph


"Bidenomics is a heady brew. The Democrats' $7.9 trillion blast of extra spending is a step beyond Roosevelt's New Deal. It mimics the Keynesian expansion of the Second World War and consciously aims to run the economy at red-hot speeds of growth.

If enacted in full, it is large enough to lift the US economy out of the zero-rate deflationary trap of the last decade and entirely reshape the social and financial landscape.

The stimulus will be corralled inside the closed US economy by Joe Biden's protectionist "Buy America" policies, his industrial strategy, and his carbon border tax (i.e. disguised tariffs against China). This limits leakage.

It is a laboratory of sorts for a post-globalisation experiment in what used to be called "reflation in one country" – before the free flow of goods and capital emasculated sovereign governments.

"It's quite likely that, just as in World War II, when we push down on the economic accelerator, we will find that we have been running on one cylinder up until no w," said the Roosevelt Institute, now advisors to the Biden campaign .

This is why Moody's Analytics estimates that Bidenomics accompanied by a Democrat clean sweep of Congress would lift American GDP by an extra 4.8pc, add an extra seven million jobs, and raise per capita income by an extra $4,800 over the next four years , compared to a clean sweep by Donald Trump. Economic growth would rocket to 7.7pc in 2022." Telegraph ------------- Evans-Pritchard, the author of this piece baldly declares that the Trump tax cut failed to stimulate economic growth and that a clean sweep by the Democrats in November would lead to massive GDP growth and a reduction in present economic inequalities in American society. I will be very interested in your comments. pl

https://www.telegraph.co.uk/business/2020/10/06/joe-bidens-war-economy-policies-radical-break-status-quo/


Fred , 06 October 2020 at 12:19 PM

That's a fine read Col. Thank goodness that after 47 years as a politician, including 8 years as VP - during which TARP did what? - Biden finally has a plan to Tax and Spend that beats all the Tax and Spend plans that went before this one.

Just what is this getting spent on - the same things Obama-Biden promised, "green" (the color of money) energy, solar charging stations and 1.5 million energy efficient homes (didn't the Housing bubble cause a little economic problem?), 'educaiton'! I wonder if that includes teaching us all critical race theory? and "infrastructure". And here I thought broken records were out of style.

Where's the money coming from? According to Oxfordeconomics, which the Guardian links to, Biden's raising taxes, but it won't lower consumer spending:
".... we estimate an overall multiplier of 0.25 for the individual provisions in Biden's tax package. So, for every dollar of tax increase, households would reduce their spending by 25 cents. As such, while the proposal would generate a substantial revenue inflow, we don'tbelieve it would significantly constrain consumer spending."

So what is the decline in corporate spending if you raise corporate taxes? The economists at Oxfordeconomics conveniently left that out, nor did they eplicitly tell you that a decade of tax revenue will still leave you with 60 years of tax burden from Joe's spending.

"On the corporate tax front, the most significant revenue raisers are:•A 7ppt increase in the statutory corporate tax rate to 28%, which would raise $1.3tn over 10years.•An increase in taxes on foreign earnings.•A 15% minimum tax on global book income.•The elimination of several real estate investment tax preferences." (Oooh look, Trump's screwed! Yeah! I wonder how all those REITs look with that?)

Another unasked question: Who is going to do all that economy stimulating work if there is a national lockdown due to Covid?

GEORGE CHAMBERLAIN , 06 October 2020 at 12:20 PM

what's new?

"LaRouche's comments were prompted by an article published in the Telegraph on May 19 by British intelligence stringer Ambrose Evans-Pritchard, whose experience in orchestrating U.S. impeachment drives for the British goes back to his attacks on President Bill Clinton. Evans-Pritchard, on the eve of Trump's first trip abroad as President, is spreading the black propaganda line that Trump might already be incapacitated, in much the same way as President Richard Nixon was incapacitated by then-Defense Secretary James Schlesinger, who "instructed U.S. military officials to ignore any order from the Oval Office to use nuclear weapons."

Evans-Pritchard asserts that the key to overthrowing Trump is to pull Republican support away from him, which he admits is still strong. But what happens next? He quotes Sir Jeremy Greenstock, former British UN ambassador and now chairman at Gatehouse Advisory Partners: "America can be very powerful if it decides to act hard. Xi Jinping and Putin will probably wait and see whether Trump self-destructs." Evans-Pritchard then raises the question: How will Trump behave "when the special prosecutor [Robert Mueller] starts to let rip with a volley of subpoenas."

Leith , 06 October 2020 at 12:23 PM

I like the idea of a Carbon Border Tax. Or at least the one proposed by the EU, as I have not seen Biden's proposal. It has never made sense to me that we import from countries with low environmental standards when our own manufacturers are handicapped.

But unless Biden can carry Democratic Senatorial challengers against GOP incumbents it ain't gonna happen. It will be stalled in the Senate. There is no way McConnell will even allow it on the Senate floor.

Stag Deflated , 06 October 2020 at 12:40 PM

This thinking has been wrong, repeatedly so, for the last 10 years. The idea that there is just one more pedal to push down to jumpstart the economy belies the truth that we have experienced the most accommodative and expansive monetary policy on a global level in modern times.

Aside from the lack of efficacy, which I may look to discuss at length later on, there is another striking thing about this plan, and that is how it will be paid for. The reason is not the traditional "where will the money come from" I know where it will come from, cheap US debt, but it tells us two key things. The first is that the functional ideas of Modern Monetary Theory (MMT) that you can basically just issue debt and have your central bank both monetize it and keep the interest payments low and use that to fund largely unlimited government spending have for the most part been endorsed by those on the left as a mechanism to deliver on their grand plans. The second thing that is striking though is what they want to spend the money on, which is military spending and infrastructure and not healthcare and a green new deal. This calls into question what alignment there is on the cadres of the left or the possibility that starting with infrastructure is a way to run cover to expand these fantasy economics to social projects without reorienting the economy towards their achievement.

Veg , 06 October 2020 at 12:48 PM

Evans-Pritchard's talents are wasted on economic commentary. He writes well, but in the breathless tones of a failed thriller writer. His entire worldview is based on the notion that it is always two minutes to midnight. It's a shame that they put all of his stuff behind a paywall.

Maybe if Biden's plan is approved we will finally see the inflation that Wall Street and its media minions have been whining about for the past forty years.

I have no doubt that the collapsing pocket that is Conservative Inc will luxuriate back on the familiar loser's ground of "fiscal responsibility."

Biden's plan, such as it is, simply marries the essence of Trump's nationalist policies with Great Society spending levels. Like so much of his platform, it is designed to keep the progressives on the plantation until Nov 3 and not one minute beyond.

Deap , 06 October 2020 at 12:51 PM

Sure it will. The devil is in the details. When has any Democrat economic plan ever produced intended results. First they have to confess what went wrong with their trillion dollar "War on Poverty" that now requires another trillion to pretend to clean up that grotesquely distorted mess.

Until they confess to their sins of the past, they are doomed to repeat them. How are they going to remedy their decades of teacher union K1-2 fail turning out entire generations of dysfunctional illiterates who are somehow going to be absorbed into this dynamite economy.

They are sitting in the back room smoking dope and spinning tales. What I hear is wealth confiscation and/or turning on the printing presses. Time for a good recap of Obama's initial "Green Jobs Revolution" from his first term - who did those promise work out and why are we having to undo the piles of excrement Biden First Term left behind.

I have a bad case of deja vu When in fact the Trump Tweaking was paying long term dividends, until the deep state hijacked covid to destroy any possible Trump bragging rights. Never forget Nancy Pelosi tearing up Trump's SOTU address and declaring they were all lies -- and then carrying out her covid porn agenda to make sure she was proven correct.

Remember the three generation rule - all revolutionary and planned economies always fail by the third generation. Soviet Union, Margaret Thatcher's warning, Cuba, etc ......if all the wealth in the world was redistributed, it would be back in similar hands three generations later. Societies always stratify, even since the Sumerians.

America is unique primarily because of the mobility it offers between the strata by its relatively free market system. Don't mess with it. Democrat's heavy handed planned utopia is a nightmare.

j. casey , 06 October 2020 at 01:10 PM

"Bidenomics" is comedy gold, man. Here's another one: President "Printing Press" Harris.

A. Pols , 06 October 2020 at 01:14 PM

Yup, and I've got some ocean front property in Arizona for sale. Sounds very hopey changey to me.

Diana Croissant , 06 October 2020 at 01:17 PM

I am no economist. However, I am not in debt. I am not wealthy, but I have all I need and want. I've worked very hard during my life and enjoyed my jobs because they were suited to my training and kislls. My retirement funds keep me comfortable. My two sons are doing well in our current economy. That's, of course, a self-centered view of the situation.

But, with that in mind, I say this: "beware of Greeks bearing gifts." (I know Biden is not Greek, but I hope you get my point.)

I am also remembering the Obama administration. I may receive only an Obama phone and an EBT card.

blue peacock , 06 October 2020 at 01:27 PM

Ambrose Evans-Pritchard is generally a very astute writer. However, on economics and national fiscal policies and central banking he has bought into the Davos sophistry that defies common sense for over a decade.

An example of this sophistry is this line from the passage in your post - "..lift the US economy out of the zero-rate deflationary trap of the last decade...". Ask an average American if they've seen any price deflation in their rents or house prices, their kid's tuition, their health care premiums, their cost of pharmaceuticals, the cost of tacos at their neighborhood taqueria, the cost of getting their shirt cleaned, over the past decade and they'll laugh at you. The cost of living of average Americans have risen and that is the real living experience. But of course if you're Ben Bernanke or Mario Draghi or Jerome Powell or Ms. Lagarde then we are in a "deflationary trap" and they should print more and more money that gets shipped first to their friends on Wall St. The Party of Davos as Jack called it.

Under the government enforced lockdown, how many trillions has the US federal government under the Trump administration borrowed from future generations in the first and now the second stimulus waiting for approval? How many trillions did Jerome Powell print up and send to his friends at Blackrock and Citadel?

GDP is a useless indicator IMO. Digging trenches and filling them up will raise GDP. A very important indicator however is productivity growth. That has been lagging for many years. Another are median household income & wealth, which has also been lagging. What we've seen in the US is a dramatic increase in wealth inequality between the top 0.1% vs the bottom 80% over the past 50 years and this curve continues to accelerate - second order derivative!! The second is the level of systemic debt across all sectors - individuals, corporate and government at all levels that has continuously risen over 50 years increasing systemic leverage to a point larger than during the civil war and WW II. This has occurred under both parties and the Trump presidency has actually increased it despite the rhetoric. Compare the Balance of Trade relative to the soundbites.

https://d3fy651gv2fhd3.cloudfront.net/embed/?s=ustbtot&v=202010061328V20200908&d1=20101009&h=300&w=600

A systematic restructuring of our economy away from financialization, away from bailouts of the oligarchy, away from unprecedented market concentration, away from untrammeled credit expansion to back previous credit losses and having a monetary authority with a singular focus on sound money is what's necessary. But that's not gonna happen under either Trump or Biden as it will gore the ox of the Party of Davos whose interests is what both sides primarily cater to. More debt-fueled government spending always ends up as socialism for the oligarchy which is exactly what we've had for decades. It is an economic truism that as productivity of debt continually declines, economic productivity also declines. That's the trap we are in!

LondonBob , 06 October 2020 at 01:46 PM

Been very happy with my gold investments these past two years and will stick with them thanks, Biden would supercharge them.

Longer term I am looking to have most of my money in Asia, Russian oil companies also seem to like drilling for oil, rather than desperately trying to be anything else than producing oil like BP and the rest. Demographics are dire for most of the West and the US is likely to continue transitioning in to a Latin American style country. People have been well conditioned in to not talking about such things but no point talking about the increasing economic dysfunction without talking about the underlying cause. A massive increase in immigration will lead to a surge in inequality, anemic economic growth, fiscal deficits and a decline in gdp per capita.

Time to start think about investments the way a well to do Latin would.

BillWade , 06 October 2020 at 01:57 PM

Well, Biden has to get elected first, we'll see. Carbon taxes, hmmm - another way to destroy the middle-class?

Something to think about is the European Central Bank, they are a meeting late this month with "experts" to determine if they will go to a digital currency. The ECB might then decide the "experts" are right and go full digital on Jan 1st, 2021. We might see a whole lot of Euro money coming into the USA, hope so. However, the Federal Reserve has not been printing any new bank notes so you'll have trouble finding crisp bills for Christmas gifts.

Oilman2 , 06 October 2020 at 02:10 PM

IMO, based on the debt current and future we are loading on the backs of our children, it matters not a whit which of the paths are chosen. Both will end in destruction of said debt by some method - because you can only load so much on horseback and still ride. As we stand now, we are walking alongside a swaybacked packhorse already. Closing off the country, where the only growth has been in the services sector for decades, makes sense in what universe?

Raise taxes? They have only ever increased in my lifetime, my fathers and his. At what point does the Boston Tea Party repeat? From where I sit, everything either party does is only adding fuel to a coming conflagration, as nothing is actually paid for - a ledger entry is aggregated and we march on. The piper will get paid, as he has the children...

tedrichard , 06 October 2020 at 02:32 PM

1.socialism and keynesian economics as a viable theory dead dead right now....today and politicians know it
2. central banks are trapped at zero bound interest rates with no way under heretofore main stream economic theories to stimulate their respective economies
3. politicians are largely dumb as a bag of hammers with not a shred of understanding what to do other than to listen to think tanks warmed over rehashed ideas that have not worked in the past and won't now.
4. what biden is proposing is MMT with communist thomas piketty theory disguised as classical keynesian nonsense being sold to a public almost as dumb as those doing the selling
5. in order to make this works they will have to institute guranteed basic income for the umpteen millions of people who will NEVER work again under this policy of bullshit
6. and lastly to ensure NO ONE can escape this trap which will evolve into an UGLY neo feudalism for 99% of the populace this team of genuinely EVIL people will have to CANCEL ALL paper money FORCING everyone to have a bank account for using digital money THE ONLY money that can exist if this comes to pass. banks loves this as it gives them a cut of all the action
7.as a result taxes will be anything they want and YOU have no escape or recourse whatsoever
8. say the wrong thing, think the wrong thing and your economic life under digital money will be cancelled placing you into destitution and death
9. this is a recipe for slavery on a gigantic scale ensuring the 1/10 of 1% can rule without disturbance forever
10 revolution will be the only option at that point and since the police and military will continue to be paid by the state it will be bloody

let see you pl print this

Deap , 06 October 2020 at 04:22 PM

On the other hand, if this scheme promises to bring back the Jimmy Carter 14% interest rates on CD's for us retired folks, I say bring it on. Everyone else will just have to deal with the economic rubble later on their own.

I just need another good 15 years or so myself. In other words, never believe old people when it comes to managing the US economy- our goals are selfish and very short term. So like, what's in this for meeeeeee?

Deap , 06 October 2020 at 04:27 PM

Biden must have listened to AOC for this fiscal policy advice. Bring back chicken coops and victory gardens, and turn in your scrap metal because we are WAR.

Bobo , 06 October 2020 at 05:04 PM

What in God's name is Biden having a Brit pushing his economic plan. We all know they embellish everything which then falls apart into pieces. Yes, Fred I remember those +14% interest rates I paid on my mortgage and still kick myself for not taking the 100k down payment and putting it into a 14% 30 year CD and renting. But then we all have those memories. Sure would not want my grandchildren paying those rates on a 500k mortgage as it would kill the real estate business and this country.
Sleepy Joe will be ready for the assisted living center by year two and we would be stuck with Checkbook Harris, UGH. Vote for the Bullcrapper that gets things done.

Les Priest , 06 October 2020 at 05:05 PM

Ahem; This has been done before: After Hitler was elected in 1933; He slammed the borders shut to money transfer, then started building the autobahn. It worked, Germany came out of the slump. Of course, Hitler then moved on to building planes & tanks. Also, Modern Monetary theory says you can run the printing presses & print money like mad, as long as that paper is going into a real, working economy, it gets recycled. That does not describe the current 'developed world' economy; the FIRE economy (finance, insurance, real estate) has eaten it's own tail. When all the other assets have jacked up half way to the moon, there will be another gold rush (same as 1930s) & my shack in northern BC will shake with all the helicopters flying around to work up new gold mines.

English Outsider , 06 October 2020 at 06:46 PM

Candidate Donald Trump's 2016 programme was clear. Bring industry back home. Ditto the troops. Ensure an adequate defence. Drain the swamp.

Looked good. I hadn't realised that his main achievement would be somewhat simpler. Stay functioning in office in the face of the most dangerous series of attacks on an American President that can have been seen since the early nineteenth century.

So clearly he's going to need another term in office to get on with all the things he should have been able to get on with in the first.


Candidate Joe Biden was, I thought at first, stealing part of the Trump 2016 programme. Bring industry back home. Turns out not - as far as I can see America will remain the most heavily industrialised country going. But, as in my own country, much of the industry will still be abroad. With the jobs.

As with my own country Biden's America will be environmentally virtuous. It'll hit some good targets. It'll not use as much fossil fuel. Yesterday's heavy polluters - the coal mines and steel mills - won't pollute any more.

Fake. Again as with my own country the dirty industries we still rely on will still be roaring full steam ahead. Coal will still be mined. Steel will still be produced. But elsewhere.

So Candidate Joe Biden will not be the man to put that part of the Trump 2016 programme into action. He'll be the man who continues with the fake environmentalism we've already seen so much of. Naturally, if the heavy industry is outsourced so is our pollution. Doesn't look that clever a trick to me, even if it fools the eco-warriors.

[Oct 06, 2020] In backing Biden, the leftist 'resistance' to Trump is perpetuating illegal US invasions wars, handing victory to the neocons -- RT Op-ed

Oct 06, 2020 | www.rt.com

In backing Biden, the leftist 'resistance' to Trump is perpetuating illegal US invasions & wars, & handing victory to the neocons Michael Rectenwald Michael Rectenwald

is an author of ten books, including the most recent, Beyond Woke . He was Professor of Liberal Arts at NYU from 2008 through 2019. Follow him on Twitter @TheAntiPCProf 6 Oct, 2020 17:17 Get short URL In backing Biden, the leftist 'resistance' to Trump is perpetuating illegal US invasions & wars, & handing victory to the neocons A supporter of Democratic U.S. presidential nominee Joe Biden wears a Captain America costume during a gathering outside Perez Art Museum before his arrival for a town hall event in Miami, Florida, U.S., October 5, 2020 © REUTERS / Marco Bello 31 Follow RT on RT Trump calls the Iraqi invasion 'a disaster,' wants to end 'endless wars,' and bring US troops home. It's this that has fueled the deep state's attempts to remove him from office by any means possible. The hawks want Biden to win.

In a recent op-ed on RT, I outlined the puzzling and ironic configuration that is the anti-Trump 'resistance.' But I didn't explore one important 'interest group' within a 'deep state' intent on destroying Trump's presidency at all costs -- namely, the neocon hawks of both major political parties and the military and intelligence establishments that defy strict party affiliation.

This contingent includes members of top military brass and intelligence officers , of course, but also military and intelligence contractors, including those employed by the permanent bureaucracy to foil Trump's first run for the presidency by attempting to tie him to "Russian collusion ."

Condemn Trump all you want. It's quite fashionable and facile to do so. The penchant has long since leaked across the Atlantic via the US and international media establishments. But critics must be either uninformed or disingenuous to liken Trump to Hitler . Hitler was, after all, a fascist strong man and supremacist intent on militarism and world expansionism. And Trump is nothing of the sort.

READ MORE Joe Biden isn't a foreign policy guru. He's a Stepford wife repeating 'War Party' talking points Joe Biden isn't a foreign policy guru. He's a Stepford wife repeating 'War Party' talking points The Trump Doctrine

Quite the contrary, Trump wants no part of expansionism. He has insisted that he deplores the endless wars in the Middle East and Afghanistan . Trump has been removing troops from both regions since his presidency began. And he's reportedly been foiled in efforts for a complete withdrawal by his generals . But now he may be prepared to flout their prerogatives and take matters into his own hands, if given a second term.

While Trump touts a strengthened military , the Trump Doctrine involves a particular brand of populist American nationalism . This includes a foreign policy stemming from 19th-century Republican politics . Those who have subscribed to this political position have been traditionally non-interventionist, while demanding that a premium be laid on national self-determination, the protection of national sovereignty via strong borders, and the promotion of national self-interest over international or global entanglements.

Trump has suggested that the military brass wants to start wars to enrich military contractors.

The hue and cry coming from the political establishment over Trump's foreign military policy is a thin scrim to cover for the interests of the military industrial complex. And the interests of the military industrial complex are for its own expansion and the profits that derive from it.

ALSO ON RT.COM The Rock may back Biden, but most celebrity endorsements are career opportunism which is why they NEVER come out for Republicans Why the hawks want Biden

Trump's foreign policy on the limited use of military force runs counter to those of the Bush-Cheney and Obama-Biden administrations. Both of these followed the orders of neocon hawks. Shocking his left-wing base, Obama retained many of Bush's top cabinet members, including war hawk Defense Secretary Robert Gates. And, of course, then-Senator Joe Biden (D-DE) voted in favor of and championed the invasion of Iraq in 2002.

The Obama administration not only continued the Bush campaigns in Iraq and Afghanistan, it extended them with record-breaking bombings in Afghanistan, Iraq, Syria, Somalia, Yemen, Pakistan, and Libya. Recall that it was Obama who murdered, via a drone bomb, sixteen-year-old US citizen Abdulrahman al-Awlaki. Abdulrahman was the son of alleged al-Qaeda fighter (and American citizen) Anwar Awlaki, who Obama had bombed two weeks earlier, in Yemen. In fairness it must be noted that a US raid in Yemen resulted in the death of Abdulrahman's 8-year-old sister in 2017. But it was Obama who exploded the conflict in Yemen.

READ MORE Trump-Biden debate put US democracy on display – we're now little more than the world's laughing stock armed with nukes Trump-Biden debate put US democracy on display – we're now little more than the world's laughing stock armed with nukes

The Obama-Biden international adventurism extended to the invasion of Libya and the assassination of Muammar Gaddafi, an escapade that destabilized that country and led directly to the arming of jihadists. Under Obama, the Pentagon and CIA directly armed and trained Syrian "rebels" fighting Bashar Assad, many of whom then grew into the ISIS caliphate. A 2016 iconic headline in the Los Angeles Times said it all: "In Syria, militias armed by the Pentagon fight those armed by the CIA ." It is interesting to note that it was Trump who ended the CIA's training of the so-called "moderate" Syrian rebels whose intent was the toppling Assad's government.

Obama was elected in 2008 on his promise to end Bush's war in Iraq, a conflict he said he opposed from the outset . Instead, Obama and his war hawks expanded this war and added several others. And all of this after Obama was awarded the Nobel Peace Prize (for no apparent reason) in 2009.

The military escalation under Obama-Biden surely explains the deep state's preference for Biden over Trump. But what about the voters? In opposing Trump and favouring Biden, the leftist 'resistance' is supporting the continuation of dodgy and illegal US invasions and endless wars. An achievement to be proud of. On the other hand, voters who support non-intervention and troop withdrawal favour the Republican, Donald Trump.

So, tell me again: who's 'left' and who's 'right' in this US presidential election?

Think your friends would be interested? Share this story!

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.


[Oct 06, 2020] "FRATELLI TUTTI" (OF THE HOLY FATHER FRANCIS ON THE FRATERNITY AND SOCIAL FRIENDSHIP),

Oct 06, 2020 | www.moonofalabama.org

suzan , Oct 5 2020 0:48 utc | 79

Posted by: bevin | Oct 4 2020 23:17 utc | 65

Hey bevin

Since you mentioned the pope, here's a link to the encyclical letter he just released, "FRATELLI TUTTI"
(OF THE HOLY FATHER FRANCIS ON THE FRATERNITY AND SOCIAL FRIENDSHIP),
http://www.vatican.va/content/francesco/en/encyclicals/documents/papa-francesco_20201003_enciclica-fratelli-tutti.html

As (an agnostic) buddhist I find this pope's words needed in this world now. He refused to see Pompeo last week and then releases this letter. Take heed.



psychohistorian , Oct 5 2020 2:19 utc | 81

@ suzan | Oct 5 2020 0:48 utc | 79 with the link to the latest encyclical by the Catholic pope

I skimmed the link to the pope's latest and the following are a few quoted paragraphs from the more than 287 in the whole thing.

"

15. The best way to dominate and gain control over people is to spread despair and discouragement, even under the guise of defending certain values. Today, in many countries, hyperbole, extremism and polarization have become political tools. Employing a strategy of ridicule, suspicion and relentless criticism, in a variety of ways one denies the right of others to exist or to have an opinion. Their share of the truth and their values are rejected and, as a result, the life of society is impoverished and subjected to the hubris of the powerful. Political life no longer has to do with healthy debates about long-term plans to improve people's lives and to advance the common good, but only with slick marketing techniques primarily aimed at discrediting others. In this craven exchange of charges and counter-charges, debate degenerates into a permanent state of disagreement and confrontation.

16. Amid the fray of conflicting interests, where victory consists in eliminating one's opponents, how is it possible to raise our sights to recognize our neighbours or to help those who have fallen along the way? A plan that would set great goals for the development of our entire human family nowadays sounds like madness. We are growing ever more distant from one another, while the slow and demanding march towards an increasingly united and just world is suffering a new and dramatic setback.

25. War, terrorist attacks, racial or religious persecution, and many other affronts to human dignity are judged differently, depending on how convenient it proves for certain, primarily economic, interests. What is true as long as it is convenient for someone in power stops being true once it becomes inconvenient. These situations of violence, sad to say, "have become so common as to constitute a real 'third world war' fought piecemeal".

28. The loneliness, fear and insecurity experienced by those who feel abandoned by the system creates a fertile terrain for various "mafias". These flourish because they claim to be defenders of the forgotten, often by providing various forms of assistance even as they pursue their criminal interests. There also exists a typically "mafioso" pedagogy that, by appealing to a false communitarian mystique, creates bonds of dependency and fealty from which it is very difficult to break free.

44. Even as individuals maintain their comfortable consumerist isolation, they can choose a form of constant and febrile bonding that encourages remarkable hostility, insults, abuse, defamation and verbal violence destructive of others, and this with a lack of restraint that could not exist in physical contact without tearing us all apart. Social aggression has found unparalleled room for expansion through computers and mobile devices.

45. This has now given free rein to ideologies. Things that until a few years ago could not be said by anyone without risking the loss of universal respect can now be said with impunity, and in the crudest of terms, even by some political figures. Nor should we forget that "there are huge economic interests operating in the digital world, capable of exercising forms of control as subtle as they are invasive, creating mechanisms for the manipulation of consciences and of the democratic process. The way many platforms work often ends up favouring encounter between persons who think alike, shielding them from debate. These closed circuits facilitate the spread of fake news and false information, fomenting prejudice and hate".[47]

46. We should also recognize that destructive forms of fanaticism are at times found among religious believers, including Christians; they too "can be caught up in networks of verbal violence through the internet and the various forums of digital communication. Even in Catholic media, limits can be overstepped, defamation and slander can become commonplace, and all ethical standards and respect for the good name of others can be abandoned".[48] How can this contribute to the fraternity that our common Father asks of us?

170. I would once more observe that "the financial crisis of 2007-08 provided an opportunity to develop a new economy, more attentive to ethical principles, and new ways of regulating speculative financial practices and virtual wealth. But the response to the crisis did not include rethinking the outdated criteria which continue to rule the world".[147] Indeed, it appears that the actual strategies developed worldwide in the wake of the crisis fostered greater individualism, less integration and increased freedom for the truly powerful, who always find a way to escape unscathed.

172. The twenty-first century "is witnessing a weakening of the power of nation states, chiefly because the economic and financial sectors, being transnational, tend to prevail over the political. Given this situation, it is essential to devise stronger and more efficiently organized international institutions, with functionaries who are appointed fairly by agreement among national governments, and empowered to impose sanctions".[149] When we talk about the possibility of some form of world authority regulated by law,[150] we need not necessarily think of a personal authority. Still, such an authority ought at least to promote more effective world organizations, equipped with the power to provide for the global common good, the elimination of hunger and poverty and the sure defence of fundamental human rights.

173. In this regard, I would also note the need for a reform of "the United Nations Organization, and likewise of economic institutions and international finance, so that the concept of the family of nations can acquire real teeth".[151] Needless to say, this calls for clear legal limits to avoid power being co-opted only by a few countries and to prevent cultural impositions or a restriction of the basic freedoms of weaker nations on the basis of ideological differences. For "the international community is a juridical community founded on the sovereignty of each member state, without bonds of subordination that deny or limit its independence".[152] At the same time, "the work of the United Nations, according to the principles set forth in the Preamble and the first Articles of its founding Charter, can be seen as the development and promotion of the rule of law, based on the realization that justice is an essential condition for achieving the ideal of universal fraternity There is a need to ensure the uncontested rule of law and tireless recourse to negotiation, mediation and arbitration, as proposed by the Charter of the United Nations, which constitutes truly a fundamental juridical norm".[153] There is need to prevent this Organization from being delegitimized, since its problems and shortcomings are capable of being jointly addressed and resolved.

177. Here I would once more observe that "politics must not be subject to the economy, nor should the economy be subject to the dictates of an efficiency-driven paradigm of technocracy".[158] Although misuse of power, corruption, disregard for law and inefficiency must clearly be rejected, "economics without politics cannot be justified, since this would make it impossible to favour other ways of handling the various aspects of the present crisis".[159] Instead, "what is needed is a politics which is far-sighted and capable of a new, integral and interdisciplinary approach to handling the different aspects of the crisis".[160] In other words, a "healthy politics capable of reforming and coordinating institutions, promoting best practices and overcoming undue pressure and bureaucratic inertia".[161] We cannot expect economics to do this, nor can we allow economics to take over the real power of the state.

"

Nice words but Pope Francis is still pulling punches. He knows exactly how global private finance works because before the Enlightenment the religious folk in the West ran the money system for a while. Pope Francis knows that finance is private in the West but not in China. The problem Pope Francis has with China is that the China government is the religion in China and governance is otherwise totally secular. In the West, monotheistic religions are given lots more than the lip service they are suppose to get in governance.....in the US there is suppose to be separation of church and state, correct? Do the financial holdings of the Catholic church make Pope Francis one of the elite that own global private finance in the West that I keep writing about?...I wouldn't be surprised

Jackrabbit , Oct 5 2020 2:46 utc | 82
Pope's Encyclical

I have to agree with psychohistorian on this.

The words "oligarchy" and "plutocracy" do not appear in the Pope's Encyclical. The Pope argues a moral case for feeding the poor and even calls for directing money spent on arms to the third world but he steers clear of any concern about class inequity in an age of record wealth inequality.

In this way, he "pulls punches" (as psychohistorian notes) as much as any Western politician. Many of the evils that the Pope rails against - including his remarks regarding populism vs popular government - have their origin in the extreme wealth of a small number of people.

<> <> <> <> <> <>

Capitalism vs. Socialism is a red herring. The real problem is oligarch capitalism which leads to neoliberalism (a sort of fascism) and supremacist thinking of neoconservativism (a sort of aristocracy) and zionism (a sort of colonialism).

!!

Tom , Oct 5 2020 3:49 utc | 90

Posted by: suzan | Oct 5 2020 0:48 utc | 79

Thanks for the link to the latest encyclical by the Catholic pope

Some of the WOKE crowd take offence to Pope Francis encyclical. Pathetic.

"Pope slams capitalism & injustices in WOKE view on post-Covid world but gets heat for insufficiently inclusive letter"

"Although the encyclical was woke-friendly in many respects, its title, "Fratelli Tutti," translates to "Brothers All" in English – connoting male dominance to some. The Vatican said the title was taken from the words of St. Francis of Assisi, the pope's namesake, and couldn't be changed. And in any case, an encyclical is inherently addressed to the whole world, and the Italian word "Fratelli" means brothers but can be used to mean brothers and sisters."

https://www.rt.com/news/502540-pope-francis-fratelli-tutti-capitalism/

psychohistorian , Oct 5 2020 4:01 utc | 92

@ uncle tungsten | Oct 5 2020 3:28 utc | 89 who I think meant "..no one is being prosecuted in the courts."

uncle tungsten also wrote
"
So the head of the Roman Catholic Church is expressing compassion.
"
That compassion, if you read the screed, is coming from Saint Francis who was showing all this compassion to folks during the time of the Crusades......

The anglican church is a front for the faith based belief that global finance leaders are doing God's work.

.............

The commenters here making fun of the visceral fear associated with potential impending death have never faced such themselves it is clear. I am not excusing Trump's actions but Trump is having to face his mortality in a way he has not had to before and he doesn't want to give up the reins of power so he has to look like still in control. I don't think Trump is out of the woods yet and may be setting himself up for a bigger crash given all the drugs he has crammed into his body in the past 72 hours.

I was taught in my Christian youth that my body was just a vessel in the here and now but what is more important than ones body is their soul. I blame that stupidity for much of the obesity in the US....and I blame genius Trump for that stupidity as well...

[Oct 06, 2020] Who is the dumbest economic Nobel Prize winner?

Oct 06, 2020 | www.moonofalabama.org

vato , Oct 5 2020 9:03 utc | 104

Michael Hudson's newest interview on the Macro N Cheese Podcast either as a transcript or via audio is all about the coming debt deflation and what he calls the Neofeudal Empire.
If you haven't already known, Hudson reminds you that:

Who is the dumbest economic Nobel Prize winner? [Paul Krugman?] Paul Krugman. That's right. He was given a Nobel Prize for not understanding what money was. If he would have understood it, that would've excluded him from getting the Nobel Prize.

[Oct 01, 2020] Is Hannah Arendt idea of totalitarism bunk and its in certain proportions is immanent in all modern societies, especially neoliberal like the USA

Notable quotes:
"... The reason that the "mainstream" parties are in decline is that they are no longer willing to represent the interests of ordinary people. Both are the captives of special interest groups ..."
"... What I see happening seems to me to be less explained by Hannah Arendt than by Eric Hoffer in his book The True Believer. ..."
"... They are not accepting an evil, just banality of evil that goes unrecognized as evil for its very banality. They see the extremes, and as Hoffer wrote they are drawn by that extreme; that is the very appeal of it, not just something they excuse as if banal. ..."
Oct 01, 2020 | www.theamericanconservative.com
L RNY 11 hours ago

The one thing I see in Maoist China, Nazi Germany and Czarist Russia/Soviet Union is that "freedom was curtailed" and the government cracked down on "law and order." If you look at the intimidation tactics of individuals, couples, families at restaurants and the assassinations of Police Officers, the violent riots, arson and looting in american cities you can see the justification for the government to "crack down on freedoms" and restore "law and order" similar to Maoist China and Pre-War Germany but for different reasons and justifications. If you look at the lefts handling of the Chinese biological weapon of terrorism COVID19 and the resulting lock down of the economy and the enforced government closing of churches, synagogues and mosques then you can see similarities in Maoist China, Nazi Germany and Bolshevik/Stalinist Soviet Union (and its satellites) but for different reasons and different justifications.

-The radical elements pushing for civil war and revolution in the US arent reacting to hunger or the economy as they did in Germany or Russia.

-The radical elements pushing for civil war and revolution in the US are fundamentally Marxist and are using feminism to pit men and women against one another, to destroy marriage and family to abort children. Marxists are using Gay Rights to pit sexual orientation of gays against sexual orientation of straights. Marxists are using the prejudice of minorities against the whites. Marxists are again pitting poor against rich. Marxists fracture society into entitled and embittered tribes. Radical elements are pushing for reparations and re-indoctrination as well as civil war and revolution. This is very close to the tactics of Maoist China and it has been proven that George Soros and Peoples Republic of China are financing Antifa and Black Lives Matters..China was too weak to fight the Maoist Communists so many fled to Taiwan. Russians were bribed to revolt against the Czar and put the Bolsheviks into power. Germans were desperate and the Pre-Nazi government was to weak to restore the economy. Americans aren't desperate. Americans are rich fat entitled and ridden with guilt for their blessings to the point where they are self destructive so Americans dont have motivational similarities to the Germans or the Russians for revolution.

Strong Correlation to today

Todays indoctrination youth with their rabid faces and penchant for violence remind me much more of indoctrinated Maoists destroying Chinese culture, attacking Chinese business owners and property owners to enforce a Cultural Revolution.

Collin Reid 10 hours ago

A Society That Values Loyalty More Than Expertise

I know people LOVE stating Ronald Reagan and 1980s was era of loyalty but I really don't see it.

1) The height of Americans moving across statelines was 1980s so everybody found new places to live all decade.

2) The 1980s Corporations moved towards primary goal of maximizing profit over worker relations

3) Weekly Church going would rise from 1975 - 1986 but began to fall after 1986 through 1995. Nobody has explained why this happened.

4) Being Gen X and entering career workforce in jobless recovery, there was clearly local institutions then.

FL Transplant Collin Reid an hour ago

There was a fairly large economic diaspora during the Reagan years, as the heavy manufacturing (steel) and assembly (auto) factories in what became know as the Rust Belt closed down and people moved South and West for better opportunities. (One of the results of that diaspora s the nationwide popularity of the Pittsburgh Steelers, as thousands upon thousands of fans left western PA and moved elsewhere but maintained their loyalty.)

phreethink 10 hours ago • edited

Hannah Arendt also said:

"The ideal subject of totalitarian rule is not the convinced Nazi or the convinced Communist, but people for whom the distinction between fact and fiction (i.e., the reality of experience) and the distinction between true and false (i.e., the standards of thought) no longer exist."

Hannah Arendt, The Origins of Totalitarianism

Now, is it the right or left that is more anti-science and anti-fact? Who lies to us more, the right or left? Check PolitiFact or any other reasonably balanced fact checker before you answer (No, Media Matters doesn't count). Which party's leader said: "Just remember, what you are seeing and what you are reading is not what's happening,"

I mean neither have a clean slate here, they are human and are politicians, too. But Trump's avalanche of lies and unsupported claims in Tuesday's "debate" makes it ridiculous to argue that Trump is on the side of fact, truth, and evidence.

Augustine 10 hours ago

"Among the social and intellectual elite, sexual adventurism, celebrations of perversion, and all manner of sensuality was common."

The typical Joe six pack, or even the run of the mill not religious conservative, is the social and intellectual elite now?

Kiyoshi01 Augustine 9 hours ago

Bingo. I live in an overwhelmingly liberal suburb of NYC. This place is sleepier than Mayberry. My wallet (with over $200 inside) slipped out of my pocket while I was riding my bike. The police had called me to pick it up before I even realized that it was missing.

Last week a two motorized skateboards were stolen, and someone shoplifted 5 cigars from the local tobacconist.

There is little sexual adventurism, no visible celebrations of perversion, and sexuality is largely a private matter. If you told an off-color sexual joke at the local bar, you'd likely be asked to leave.

For a guy who cautions against living by lies, Rod would do well to engage some social and intellectual elites on a regular basis. Visit places like Potomac, Maryland, or Princeton, New Jersey, or Swampscott, Massachusetts. The reality is that it's out in "Christian America" that all of this stuff is running rampant.

Rossbach 9 hours ago

"Democratic norms are under strain in many industrialized nations, with the support for mainstream parties of left and right in decline."

The reason that the "mainstream" parties are in decline is that they are no longer willing to represent the interests of ordinary people. Both are the captives of special interest groups (ethnic minorities and the radical Left in the case of the Dems, and corporations and wealthy individuals in the case of the GOP). Middle America no longer has any place to go.

Fletcher Rossbach 5 hours ago

An excellent point and a glaring flaw in the article.

a Texas libertarian 8 hours ago

Thanks for this overview of Hannah Arendt's thought and its relation to current circumstances. Very insightful. I've been wanting to read her book for a while now but have not yet done so.

"who today talks about totalitarianism?"

Political libertarians and social conservatives have for over 100 years been warning us of this coming totalitarianism. One was even so astute as to see past the absolute dictatorships of the 20th century to what we have at our doorstep today.

"Above this race of men stands an immense and tutelary power, which takes upon itself alone to secure their gratifications and to watch over their fate. That power is absolute, minute, regular, provident, and mild. It would be like the authority of a parent if, like that authority, its object was to prepare men for manhood; but it seeks, on the contrary, to keep them in perpetual childhood: it is well content that the people should rejoice, provided they think of nothing but rejoicing. For their happiness such a government willingly labors, but it chooses to be the sole agent and the only arbiter of that happiness; it provides for their security, foresees and supplies their necessities, facilitates their pleasures, manages their principal concerns, directs their industry, regulates the descent of property, and subdivides their inheritances: what remains, but to spare them all the care of thinking and all the trouble of living? Thus it every day renders the exercise of the free agency of man less useful and less frequent; it circumscribes the will within a narrower range and gradually robs a man of all the uses of himself. The principle of equality has prepared men for these things;it has predisposed men to endure them and often to look on them as benefits. After having thus successively taken each member of the community in its powerful grasp and fashioned him at will, the supreme power then extends its arm over the whole community. It covers the surface of society with a network of small complicated rules, minute and uniform, through which the most original minds and the most energetic characters cannot penetrate, to rise above the crowd. The will of man is not shattered, but softened, bent, and guided; men are seldom forced by it to act, but they are constantly restrained from acting. Such a power does not destroy, but it prevents existence; it does not tyrannize, but it compresses, enervates, extinguishes, and stupefies a people, till each nation is reduced to nothing better than a flock of timid and industrious animals, of which the government is the shepherd." - Alexis de Tocqueville
a Texas libertarian 8 hours ago

Another Tocquevillian quote that commands attention today:

"What good does it do me, after all, if an ever-watchful authority keeps an eye out to ensure that my pleasures will be tranquil and races ahead of me to ward off all danger, sparing me the need even to think about such things, if that authority, even as it removes the smallest thorns from my path, is also absolute master of my liberty and my life; if it monopolizes vitality and existence to such a degree that when it languishes, everything around it must also languish; when it sleeps, everything must also sleep; and when it dies, everything must also perish? There are some nations in Europe whose inhabitants think of themselves in a sense as colonists, indifferent to the fate of the place they live in. The greatest changes occur in their country without their cooperation. They are not even aware of precisely what has taken place. They suspect it; they have heard of the event by chance. More than that, they are unconcerned with the fortunes of their village, the safety of their streets, the fate of their church and its vestry. They think that such things have nothing to do with them, that they belong to a powerful stranger called "the government." They enjoy these goods as tenants, without a sense of ownership, and never give a thought to how they might be improved. They are so divorced from their own interests that even when their own security and that of their children is finally compromised, they do not seek to avert the danger themselves but cross their arms and wait for the nation as a whole to come to their aid. Yet as utterly as they sacrifice their own free will, they are no fonder of obedience than anyone else. They submit, it is true, to the whims of a clerk, but no sooner is force removed than they are glad to defy the law as a defeated enemy. Thus one finds them ever wavering between servitude and license. When a nation has reached this point, it must either change its laws and mores or perish, for the well of public virtue has run dry: in such a place one no longer finds citizens but only subjects."
Eddie 8 hours ago

You know, I'm a full Republican conservative, but in a way, I kinda think that maybe it wouldn't be a bad idea to have a similar economy like what's in Venezuela, Cuba, Haiti, Iran, North Korea, etc, etc, etc, so that idiots that think that kind of life style is good. THEN when they find out what it's like living in a WORKER'S PARADISE, they'll know.

Fletcher Eddie 5 hours ago

Yeah but I don't really wish to be dragged along with that.

Mark Thomason 8 hours ago

What I see happening seems to me to be less explained by Hannah Arendt than by Eric Hoffer in his book The True Believer.

We are surrounded by the extreme emotions of people feeling desperate. They are grasping at whatever is on offer, and equally likely to grasp at anything else offered.

They are not accepting an evil, just banality of evil that goes unrecognized as evil for its very banality. They see the extremes, and as Hoffer wrote they are drawn by that extreme; that is the very appeal of it, not just something they excuse as if banal.

The emotions are running to such extremes that politics breaks up longstanding friendships, and even families, as we saw in the American Civil War. That did not happen in Germany's banal acceptance of evil and power.

dbriz 8 hours ago • edited

Control requires widening the net, which requires expanding the parameters of government, which requires centralizing government power, which when done in boiling frog manner, can take a couple of centuries or so. Yet here we have arrived.

It took a long time to get from there to here and getting from here to there will require tough duty.

Sensible people might opt for a modernized Articles of Confederation with reasonable limited taxation privileges and a modified defense arrangement but of course sensible people are in low demand.

Steveb 7 hours ago

Impressive to see Godwin reach 1 so soon. I think projection should be added as a dependent variable that catalyzes Godwin logarithmically.

Richard Parker 6 hours ago

"For example, many who didn't really accept Marx's revisionist take on history -- that it is a manifestation of class struggle -- "

It is, partially.

Traditional Libertarian-Conservative here, but in my classes, I always said that Marx was a better historian than he was an economist.

cdugga Karen Richardson 5 hours ago

Should quoting you include that perhaps as many as 5 million Russian POW's also perished in the holocaust, and that it was a good thing? I am saving this RD article much more for the commentary than what rod said. Anti-fascists and the radical left? Yeah, right. Okay folks, show of hands. How many out there, identifying themselves as left or right, wish that world war 2 had lasted longer? Bone spur patriotism seems to be on full display here.

totheleftofcentre Karen Richardson 4 hours ago

One rarely sees evil so blatantly on display as in your comment.

Charles Cosimano 4 hours ago

Your book arrived today. When I think of Soft Totalitarianism I think of the Hayes Office.

Gerald Arcuri 4 hours ago

"At universities within the University of California system, for example, teachers who want to apply for tenure-track positions have to affirm their commitment to "equity, diversity, and inclusion" -- and to have demonstrated it, even if it has nothing to do with their field."

It isn't just the U.C. schools. Here in Thousand Oaks, California, sits the campus of California Lutheran University - a private institution ( though no longer "Lutheran" or indeed "Christian" in any meaningful sense of those words ). The faculty and staff are undergoing frank re-education, in preparation for the loyalty oath. And, those who dare resist ( sadly, there are few ) are simply shown the door. Any dissent is labelled "racist", "homophobic", etc., etc. The jackboots are echoing even in the quiet streets of suburbia...

And the so-called California Ethnic Studies Curriculum ( based on critical race will soon be introduced as a mandatory high school class. No class, no graduation. It's utterly chilling.

[Oct 01, 2020] Civil War 2.0- -The Country Is Now Out Of Its Mind- -

Oct 01, 2020 | www.zerohedge.com

Authored by James Howard Kunstler via The Daily Reckoning,

America has a new manufactured crisis, ElectionGate, as if all the other troubles piling up like tropical depressions marching across the September seas were not enough.

America needs a constitutional crisis like a hole in the head, and that's exactly what's being engineered for the holiday season by the clever folks in the Democratic Party's Lawfare auxiliary.

Here's how it works:

The U.S. military breaks into two factions. Voilà: Civil War Two.

You didn't read that here first, of course. It's been all over the web for weeks, since the Democratic Party-sponsored Transition Integrity Project (cough cough) ran their summer "war game," intending to demonstrate that any Trump election victory would be evidence of treason and require correction by any means necessary , including sedition, which they'd already tried a few times in an organized way since 2016 (and botched).

The Democrats are crazy enough now to want this. They have driven themselves crazy for years with the death-wish of eradicating western civ (and themselves with it). There are many reasons for this phenomenon, mostly derived from Marxist theories of revolution, but my own explanation departs from that.

The matter was neatly laid out a year ago during the impeachment ploy: After the color revolution in Ukraine, 2014, Mr. Biden was designated not just as "point man" overseeing American interests in that sad-sack country, but specifically as a watchdog against the notorious deep corruption of Ukraine's entire political ecosystem -- as if, you understand, the internal workings of Ukraine's politics was any of our business in the first place.

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890

The evidence aired publicly last year suggests that Mr. Biden jumped head-first and whole-heartedly into the hog-trough of loose money there, netting his son Hunter and cohorts millions of dollars for no-show jobs on the board of natural gas company, Burisma.

And then, of course, Mr. Biden stupidly bragged on a recorded panel session at the Council on Foreign Relations about threatening to withhold U.S. aid money as a lever to induce Ukraine President Petro Poroshenko to fire a prosecutor looking into Burisma's sketchy affairs.

Naturally, the Democratic Party impeachment crew accused Mr. Trump of doing exactly what Mr. Biden accomplished a few years earlier.

The impeachment fizzled, but the charges and the odor of the Biden-Burisma scandal lingered without resolution -- all the while that Mr. Biden posed as a presidential candidate in the primaries.

This week, the Senate released a report detailing findings of their investigation into the Biden family's exploits abroad. It didn't look good.

Also implicated are the State Department officers in the Kiev embassy who pretended not to notice any of this, pointing also to their engagement in further shenanigans around the Trump-Clinton election of 2016 -- a lot of that entwined in the Clinton-sponsored RussiaGate scheme.

Of course, the Senate was not so bold as to issue criminal referrals to the Justice Department.

If Mr. Biden actually shows up at this week's debate, do you suppose that Mr. Trump will fail to bring up the subject?

Does this finally force Mr. Biden's withdrawal from what has been the most hollow, illusory, and dispirited campaign ever seen at this level in U.S. political history?

All of which is to say that the Democratic Party has other things to worry about, besides who will replace Ruth Bader Ginsburg on the Supreme Court.

That may be hard to believe, but it's how things are now after four years of implacable, seditious perfidy from the party.

A week ago, all the talk centered around the Democrats' election coup plan, as publicized stupidly by the so-called Transition Integrity Project. Nice try. What if all those mail-in ballots sent out recently have Joe Biden's name on them and it turns out that he is no longer a candidate?

Hmmmm . No doubt the recipients were so eager to fill them in and send them out that there's no going back on that scam. Apparently, a Biden withdrawal was not one of the scenarios scrimmaged out in the Transition Integrity Project's "war game."

What then? A do-over?

Hence, panic in the swamp. Joe Biden's misadventures, and his pitiful fate, are but the outer rainbands of the brewing storm.

There's the threat of further and widespread riots, of course, but since when has insurrection proved to be a winning campaign strategy in a country not entirely gone to the dogs?

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People who are not insane usually object to their businesses being torched and their homes invaded. At this point, after months of violent antics by criminal nihilists, one can even imagine Multnomah County, Oregon, turning Trumpwise.

The orgy of political hysteria, insane thinking and violence is a psychotic reaction to the collapsing techno-industrial economy -- a feature of it, actually.

When all familiar social and economic arrangements are threatened, people go nuts. Interestingly, the craziness actually started in the colleges and universities where ideas (the products of thinking) are supposed to be the stock-in-trade.

The more pressing the practical matters of daily life became, the less intellectuals wanted to face them. So, they desperately generated a force-field of crazy counter-ideas to repel the threat, a curriculum of wishful thinking, childish utopian nostrums and exercises in boundary-smashing.

As all this moved out of the campuses (the graduation function), it infected every other corner of American endeavor, institutions, business, news media, sports, Hollywood, etc.

The country is now out of its mind echoes of France, 1793 a rhyme, not a reprise.


Wild Bill Steamcock , 47 minutes ago

People just have to accept the fact- yes I said fact- that the Republic is dead and there's no saving it. When a guy like Comey, a seditionist, perhaps even treasonous criminal can testify before Congress and not have the cuffs slapped on him on the way out says it all.

The Government is rotten through to the core with corruption and cancer. There's nothing left to work with.

Wild Bill Steamcock , 46 minutes ago

This election won't change anything. Not one thing.

And I'll gladly come back here and eat those words if I'm wrong

Fizzy Head , 6 minutes ago

Good point, some swamp creatures that were drained are still out there minus the swamp.

NoDebt , 2 minutes ago

Correct, elections mean nothing when politicians aren't afraid of the population they rule over. And by now I do mean literally RULE OVER. Consent of the governed has been completely tossed aside in abject ridicule. They see us as their intellectual and moral inferiors and hold us all in contempt.

Unless the politicians are afraid of us, this will continue. Right now they have no reason to fear us. Everyone who they wanted locked down and shut up has been- including even ZH getting the Google muzzle thrown on it. Meanwhile, everyone they wanted out in the streets fomenting chaos and revolution is out in the streets doing exactly as they are bidden (and paid) to do.

I imagine them chuckling to themselves and thinking how easy it was. It wasn't easy, of course, they spent 40 years doing their "slow march through the institutions" but that phase is over now. They're into the active (violent revolution) part.

And in case nobody has noticed, they're winning.


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CRM114 , 16 minutes ago

Interesting point about corruption in Ukraine. Worth noting that the soccer Champion's League final in 2018 was in Kiev, Ukraine. Very inconvenient for both fans and teams, airlines couldn't cope, and the hotel ripoffs started immediately. Very stupid place to hold it. The location is decided by an "independent" FIFA committee, one of whom has a brother who is the mayor of Kiev. Coincidence, obviously ;)

The idea that Hunter Biden could operate in Ukraine without bribing anyone is ridiculous. The key question is whether he ripped off the American people as well as the Ukrainians ;)

tyberious , 57 minutes ago

"The Democrats are crazy enough now to want this"

They hang otherwise!

LetThemEatRand , 1 hour ago

A bloody crisis over whether douchebag or turd sandwich won the election is just about par for the course these days.

J S Bach , 25 minutes ago

Another great article posted in the past 3 days on ZH. (Maybe there's hope for this site after all.)

However, as usual... the (((cancerous core))) of all of our malaise, from unconstitutional currency, to media, to academia, to corrupt courts, to twisted sexual ideologies... is NOT mentioned.

Hopefully, those who garnered at least an 8th grade education level and a modicum of ability to think, will be able to read between the lines of articles like these to glean to underlying truth as to the guilty party.

flyonmywall , 48 minutes ago

********. This isn't France in 1793.

The current President is way more popular than the media is willing to admit.

The media and the Democrats will lose, count on it. They are gambling with the life of the USA, but more importantly, they are gambling with their own lives.

[Sep 28, 2020] The apparent problems with the the US "management elite": the hired managerial class is both very stupid and very self-serving

Sep 28, 2020 | www.unz.com

Beckow says: September 26, 2020 at 6:58 pm GMT 200 Words ↑ @PetrOldSack

If it is about ' surplus populations ' – and I agree that is a strong motivation for the elites – why are they super-charging import of the additional surplus population from the Third World?

The corona panic is not helping, unless this is only Phase 1. Tanking the economy will most likely result in a much weaker control of the population – the draconian new rules won't make much difference because they can never be draconian enough. Tens of millions without work is a prescription for chaos – it has always been.

One explanation that I find possible is ' inertia ' – the rulers are stuck, the hired managerial class is both very stupid and very self-serving. What we see is helpless inertia and a slow slide, but no plan or even coherent thought.

The members of the ruling class seem lost and helpless (' tear it down so we can rebuilt it better ' is a weird refrain used by Macron, Trudeau and now Biden). The real story could be that there is nobody behind the curtain, no ideas, and inertia rules.


PetrOldSack , says: September 26, 2020 at 7:14 pm GMT

@The Alarmist hat we need to get the global population back below one billion, because every action they have taken lately seems designed to lead to means to achieve that end.

To keep with the Saker, "the elites have gone mad", at government level, the public puppets mostly do not know what they are doing. A level deeper, the few bet on chaos, improvise, but at the least have some sort of quality goal: induce chaos to mask the causes of the necessary culling of the surplus populations. At the level of the middle class, and populus, the former are suicidal, the latter as always in the history of mankind, do not even grasp the situation they are in.

, JasonT , says: September 26, 2020 at 9:44 pm GMT
@Beckow much difference because they can never be draconian enough."

Corona panic leads to mandatory vaccinations.
Mandatory vaccinations leads to implantation of biochip.
Biochip sends and receives signals to/from 5G network.
Signals between biochips and AI through 5G network track everyone who has the chip, does not allow troublemakers to buy/sell thereby starving them, and in extreme cases, signals from 5G network to biochips kills/disables troublemakers.

The rules do not need to be draconian. In fact, no overt 'rules' are needed at all because people will learn through pain what they are allowed to do.

[Sep 24, 2020] Critical race theory as the theory of black racism

Sep 24, 2020 | en.wikipedia.org

Partially based on Wikipedia

Origins

In the early 1980s, students of color at Harvard Law School organized protests in various forms to problematize the lack of racial diversity in the curriculum, as well as among students and faculty. These students supported Professor Derrick Bell, who left Harvard Law in 1980 to become the dean at University of Oregon School of Law. During his time at Harvard, Bell had developed new courses which studied American law through a racial lens that students of color wanted faculty of color to teach in his absence. However, the university, ignoring student requests, hired two white civil rights attorneys instead. In response, numerous students, including Kimberlé Crenshaw and Mari Matsuda, boycotted and organized to develop an "Alternative Course" using Bell's Race, Racism, and American Law (1973, 1st edition) as a core text and included guest speakers Richard Delgado and Neil Gotanda.[11][12]

The theory itself is a kind of Lysenkoism in this particular area. Read voodoo science. This pseudoscience includes several themes (Wikipedia)

Critique

Any rational legal scholar should reject CRT as voood science. But somehow it crioped in many federal againces. President Donald Trump signed an executive order on Tuesday to stop funding to federal government contractors who hold critical race theory training sessions.

“The President signed an Executive Order to end training sessions based on race and sex stereotyping and scapegoating in the Federal workforce, the Uniformed Services, and among Federal contractors,” the White House said in an announcement.

“This order will prohibit Federal agencies and Federal contractors from conducting training that promotes race stereotyping, for example, by portraying certain races as oppressors by virtue of their birth.”

The president provided a number of examples of such critical race theory trainings, which included a seminar recently held by the Treasury Department that promoted the message that “virtually all White people, regardless of how ‘woke’ they are, contribute to racism.” The same seminar was found to have told small group leaders to encourage employees to avoid the idea that Americans should be “more color-blind” or “let people’s skills and personalities be what differentiates them.”

In another example, the Sandia National Laboratories, a research lab and a federal entity, was found to have stated in training materials for non-minority males that an emphasis on “rationality over emotionality” was a characteristic of “white male[s].” The training materials also asked the trainees to “acknowledge” their “privilege” to each other.

The Argonne National Laboratories, a research center under the U.S. Department of Energy, was found to have stated in its training materials that racism “is interwoven into every fabric of America.” It also characterized statements like “color blindness” and “meritocracy” as “action of bias.”

The executive order also pointed to the Smithsonian Institution in another example, where one of the museum’s graphics asserted that concepts such as “objective, rational linear thinking,” “hard work” being “the key to success,” the “nuclear family,” and belief in a single god are “aspects and assumptions of whiteness” and not values that would unite Americans. The museum also stated that “[f]acing your whiteness is hard and can result in feelings of guilt, sadness, confusion, defensiveness, or fear,” according to the order.

Many rational legal scholars have criticized CRT as pseudoscience and voodoo: CRT scholars' reliance on narrative and storytelling, or CRT's critique of objectivity.

Judge Richard Posner of the U.S. Seventh Circuit Court of Appeals has "labeled critical race theorists and postmodernists the 'lunatic core' of 'radical legal egalitarianism.'" He wrote:

What is most arresting about critical race theory is that it turns its back on the Western tradition of rational inquiry, forswearing analysis for narrative. Rather than marshal logical arguments and empirical data, critical race theorists tell stories – fictional, science-fictional, quasi-fictional, autobiographical, anecdotal – designed to expose the pervasive and debilitating racism of America today. By repudiating reasoned argumentation, the storytellers reinforce stereotypes about the intellectual capacities of nonwhites.

Judge Alex Kozinski of the Ninth Circuit Court of Appeals wrote that critical race theorists have constructed a philosophy which makes a valid exchange of ideas between the various disciplines unattainable:

The radical multiculturalists' views raise insuperable barriers to mutual understanding. Consider the "Space Traders" story. How does one have a meaningful dialogue with Derrick Bell? Because his thesis is utterly untestable, one quickly reaches a dead end after either accepting or rejecting his assertion that white Americans would cheerfully sell all blacks to the aliens. The story is also a poke in the eye of American Jews, particularly those who risked life and limb by actively participating in the civil rights protests of the 1960s. Bell clearly implies that this was done out of tawdry self-interest. Perhaps most galling is Bell's insensitivity in making the symbol of Jewish hypocrisy the little girl who perished in the Holocaust – as close to a saint as Jews have. A Jewish professor who invoked the name of Rosa Parks so derisively would be bitterly condemned – and rightly so.

Daniel Farber and Suzanna Sherry have argued that critical race theory, along with critical feminism and critical legal studies, has anti-Semitic and anti-Asian implications, has worked to undermine notions of democratic community, and has impeded dialogue.

Jeffrey J. Pyle wrote in the Boston College Law Review:[40]

Critical race theorists attack the very foundations of the [classical] liberal legal order, including equality theory, legal reasoning, Enlightenment rationalism and neutral principles of constitutional law. These liberal values, they allege, have no enduring basis in principle, but are mere social constructs calculated to legitimate white supremacy. The rule of law, according to critical race theorists, is a false promise of principled government, and they have lost patience with false promises.

Peter Wood, president of the National Association of Scholars, considers CRT a "grievance ideology" and an "absurdity". He sees the central tenet of "white racism in the American legal system" to be shown false because of items such as the 14th Amendment, the Voting Rights Acts, and Brown v. Board of Education.[41] Critics including George Will saw resonances between critical race theory's use of storytelling and insistence that race poses challenges to objective judgments in the US and the acquittal of O. J. Simpson.[42][43]

In September 2020, the White House Office of Management and Budget took steps to cancel funding for training in critical race theory among federal agencies on the basis that it constituted "divisive, un-American propaganda".[

Controversies Critical race theory has stirred controversy since the 1980s over such issues as its:

In 2010, the Mexican American Studies Department Programs in Tucson, Arizona were effectively banned due to their connection to CRT, which was seen to be in violation of a recently-passed state law that "prohibits schools from offering courses that 'advocate ethnic solidarity instead of the treatment of pupils as individuals'."[46] The ban included the confiscation of books, in some cases in front of students, by the Tucson Unified School District.

Matt de la Peña's young-adult novel Mexican WhiteBoy was banned for containing CRT, However, this ban was later deemed unconstitutional on the grounds that the state showed discriminatory intent. "Both enactment and enforcement were motivated by racial animus," federal Judge A. Wallace Tashima said in the ruling.

Derrick Bell as the founder of critical rase thory and black racism

Derrick Bell as the founder of critical rase thory and black racism

Derrick Albert Bell Jr. (November 6, 1930 – October 5, 2011) became the first tenured African-American professor of law at Harvard Law School, and he is often credited as one of the originators of critical race theory along with Richard Delgado, Charles Lawrence, Mari Matsuda, and Patricia Williams. He promoted quota systems for racial groups in faculty which is a racist stance in itself.

He was a visiting professor at New York University School of Law[3] from 1991 until his death. For five years he was also a dean of the University of Oregon School of Law.

He was hired by Harvard Law School In the 1970s, with the help of protests from black Harvard Law School students for a minority faculty member. At Harvard, Bell established a new course in civil rights law, published a book, Race, Racism and American Law, and produced several law review articles.

In 1980, he started a five-year tenure as dean of the University of Oregon School of Law, interrupted by his resignation after the university refused to hire an Asian-American woman he had chosen to join the faculty.

Returning to Harvard in 1986, after a year-long stint at Stanford University, Bell staged a five-day sit-in in his office to protest the school's failure to grant tenure to two professors on staff, both of whose work promoted critical race theory. The sit-in was widely supported by students, but divided the faculty, as Harvard administrators claimed the professors were denied tenure for substandard scholarship and teaching.[8]

In 1990, Harvard Law School had 60 tenured professors. Three of these were black men, and five of them were women, but there were no African-American women among them -- a dearth Bell decided to protest with an unpaid leave of absence.[8][11] Students supported the move which critics found "counterproductive," while Harvard administrators cited a lack of qualified candidates, defending that they had taken great strides in the previous decade to bring women and black people onto the faculty.[8] The story of his protest is detailed in his book Confronting Authority.

Bell's protest at Harvard stirred angry criticism by opposing Harvard Law faculty who called him "a media manipulator who unfairly attacked the school," noting that other people had accused him of "depriv[ing] students of an education while he makes money on the lecture circuit."[12]

Bell took his leave of absence and accepted a visiting professorship at NYU Law, starting in 1991. After two years, Harvard had still not hired any minority women, and Bell requested an extension of his leave, which the school refused, thereby ending his tenure.

Later in 1998, Harvard Law hired civil rights attorney and U.S. assistant attorney general nominee Lani Guinier, who became the law school's first black female tenured professor.[1][13]

In March 2012, five months after his death, Bell became the target of conservative media, including Breitbart and Sean Hannity, in an exposé of President Barack Obama. The controversy focused on a 1990 video of Obama praising Bell at a protest by Harvard Law School students over the perceived lack of diversity in the school's faculty. Bell's widow stated that Bell and Obama had "very little contact" after Obama's law school graduation. She said that as far as she remembered, "He never had contact with the president as president."[14] An examination of Senior Lecturer Obama's syllabus for his course on race and law at the University of Chicago revealed significant differences between Obama's perspective and that of Derrick Bell, even as Obama drew on major writings of critical race theory.[15]

NYU School of Law Bell's visiting professorship at New York University began in 1991. After his two-year leave of absence, his position at Harvard ended and he remained at NYU where he continued to write and lecture on issues of race and civil rights.

Bell and other legal scholars began using the phrase "critical race theory" (CRT) in the 1970s as a takeoff on "critical legal theory", a branch of legal scholarship that challenges the validity of concepts such as rationality, objective truth, and judicial neutrality. Critical legal theory was itself a takeoff on critical theory, a philosophical framework with roots in Marxist thought.

Bell continued writing about critical race theory after accepting a teaching position at Harvard University. He worked alongside lawyers, activists, and legal scholars across the country. Much of his legal scholarship was influenced by his experience both as a black man and as a civil rights attorney. Writing in a narrative style, Bell contributed to the intellectual discussions on race. According to Bell, his purpose in writing was to examine the racial issues within the context of their economic and social and political dimensions from a legal standpoint. Bell's critical race theory was eventually branched into more theories describing the hardships of other races as well, such as AsianCrit (Asian), FemCrit (Women), LatCrit (Latino), TribalCrit (American Indian), and WhiteCrit (White).[21] His theories were based on the following propositions:

First, racism is ordinary, not aberrational.[22] Second, white-over-color ascendancy serves important purposes, both psychic and material, for the dominant group.[22] Third, "social construction" thesis holds that race and races are products of social thought and relations.[22] Fourth, how a dominant society racializes different minority groups at different times, in response to shifting needs such as the labor market.[22] Fifth, intersectionality and anti-essentialism is the idea that each race has its own origins and ever-evolving history.[22] Sixth, voice-of-color thesis holds that because of different histories and experiences to white counterparts', matters that the whites are unlikely to know can be conveyed.[22] CRT has also led to the study of microaggressions, Paradigmatic kinship, the historical origins and shifting paradigmatic vision of CRT, and how in depth legal studies show law serves the interests of the powerful groups in society. Microaggressions are subtle insults (verbal, nonverbal, and/or visual) directed toward people of color, often automatically or unconsciously.[23]

For instance, in The Constitutional Contradiction, Bell argued that the framers of the Constitution chose the rewards of property over justice. With regard to the interest convergence, he maintains that "whites will promote racial advances for blacks only when they also promote white self-interest." Finally, in The Price of Racial Remedies, Bell argues that whites will not support civil rights policies that may threaten white social status. Similar themes can be found in another well-known piece entitled, "Who's Afraid of Critical Race Theory?" from 1995.[24]

His 2002 book, Ethical Ambition, encourages a life of ethical behavior, including "a good job well done, giving credit to others, standing up for what you believe in, voluntarily returning lost valuables, choosing what feels right over what might feel good right now".[25]

[Sep 24, 2020] Antifa Conspiracy Theories and America's Unraveling by Nickolas Kristof

Antifa and BLM are just shows with stunts designed to distract people from the level they are fleeced by MIC and financial oligarchy. As well as restore the legitimacy of Clinton wing of neoliberal oligarchy which was badly shaken during 2016 election, when their candidate was send packing.
Nicholas Kristof is member of "Clinton gang of neoliberals" and a part of this effort to distract people. The number of people who pay attention to Nicholas Kristof bloviations is astounding. Few understand that we do not know the facts and the real issue if the tight grip of MIC and financial oligarchy on the society. What is interesting is that s in California, there are 8.5 million residents born outside the country and about 150,000 homeless. "The melting pot burned over. It is now a ... salad.
For example, if money spend on wars were used to manage thoseforests with difficult terrain and perioc drauts, would the outcome be different?
Can those fires and destruction be viewed as God punishment for war the USA unleashed? As Thomas Jefferson said "I tremble for my country when I consider that God is just."
BTW, the number of commenters with Russian paranoia symptom is frightening. Of course NYT attracts specific audience, but still. In this sense NYT columnists including Nickolas Kristof are just warmongering bottom feeders of MIC crumps. It is pathetic how he tries to hide the lack of money for forest management and mismanagement if this issue by Oregon Dem politician under the broad banner of "climate change" Existence of climate change does not mean that fire should burn uncontrollably.
MIC steals half trillion dollars and then financial oligarchy steals probably another half, if not more. What is left is not enough for proper maintenance of land, water and environment in general. Stupid situation, but this is neoliberalism my friend, where "greed is good". And people chose this mousetrap themselves in 1970th by electing first Carter and then Reagan and then Clinton , allowing financial oligarchy to dismantle New Deal Capitalism. Clinton presidency was especially destructive, In a way he should be views as the top villain in this story, a real criminal boss.
Below I selected only more or less sane comment (which constitute probably less 1% of the total)
Notable quotes:
"... How about a judicious Forrest management? ..."
"... So much for our useless 750 Billion dollar military budget. ..."
"... Amazing how ,close minded people become when, for them, everything is political. ..."
Sep 24, 2020 | www.nytimes.com


Dr B
San Diego Sept. 20

Wouldn't the conspiracy theories and concerns about antifa be lessened if progresses were as vitriolic about violence committed in the name of equity, diversity and inclusion as they are about violence committed in support of MAGA? Would the right have anything to crow about if the NYT was as critical of physical altercations caused by social justice warriors as they are of white supremacists? Wouldn't we all have more trust in MSM if they investigated the facts before accusing Nick Sandman of racism or claiming a garbage pull was a noose? One sided reporting and editorials like these fan the flames rather than squelch them.

Ralphie
CT Sept. 20
It's amazing. You can write a column in the NY Times full of conspiracy theories -- all fully believed by the left -- and accuse the right of being prone to believing conspiracy theories. From Russia - collusion to rubes in the red states --a majority of dems share a set of beliefs that are as delusional as anything a small group on the right might believe. But, that's Kristof and the Ny Times for you.

Richard
Vermont Sept. 20
People seemed to have lost a sense of what is plausible. While few of us know the news first hand, we have to both trust and evaluate what is reported. Nothing is absolute. Jurors are asked to decide cases beyond a reasonable doubt. That is how I feel taking in the news. But within that sliver of doubt, within the fact that nothing is absolute is where conspiracy theories begin to fester. It is where some have found solace to confirm what they want to choose to believe despite how much there might be to question that. Events like this create an opportunism to demonize those you hate and in doing so the essence of what we should be debating is lost. How to prevent these fires in the first place? We will probably continue to debate it despite the evidence on climate change, whether there is a deep state trying to discredit Trump, whether the seriousness of covid is a hoax. Yes there is no absolute certainty but there is taking an educated guess as opposed to an emotional response. I'll go with the educated guess. If it looks like a duck, walks like a duck, quacks like a duck, I will say it is a duck and accept that sliver of possibility I might be wrong.

Neel Krishnan
Brooklyn, NY Sept. 20
The social fabric has unraveled, y'all pundits need to catch up.
Steve Fankuchen Oakland, CA Sept. 20
Why do people attach themselves to "conspiracy theories?" It's actually quite simple. Take QAnon for example: it is functionally just another religion competing for adherents. As with any religion, it offers its believers an explanation of what they deem is wrong while offering a path to right those wrongs. Certainty and simplicity: those are the essential elements of cults/religion/bumpersticker politics. And the internet guarantees that whatever you believe will be "validated." "Conspiracy theories" are, for the most part, not theories, merely assertions. A theory is subject to proof and disproof by evidence. In a world where truth has no inherent monetary value, don't expect it. Why the rapid spread? To paraphrase Bill Clinton, "It's the internet, Stupid!" Follow the money: Agenda + Clickbaitability = Profit That is the business model of the internet, a medium where "news" is whatever will produce the most clicks. As in profit. Unless and until the youngest generation developes a means of communication that does not depend on megacorporations, nothing will change. In the Sixties, a generation which disbelieved and had no honest access to the traditional media, created its own, the "alternative press." Hopefully, today's teenagers will develope their own way to communicate that is reliable. It is 100% guaranteed that if their "opposition" becomes an actual threat to the profits of Facebook, Google, Apple, Twitter, and the rest of their ilk, they will be cut off.
RP NYC Sept. 20
The antifa movement has grown since the 2016 United States presidential election. As of August 2017, approximately 200 groups existed, of varying sizes and levels of activity.[73] It is particularly present in the Pacific Northwest.[74] Wikipedia
Mark Nuckols Moscow Sept. 20
Well, Americans are notoriously gullible.

Steve Griffith
Oakland, CA Sept. 20
In an age when the US Justice Department is anything but just, more closely resembling something akin to "just us," I call to mind Thomas Jefferson, in a somewhat different context: "I tremble for my country when I consider that God is just."
The Poet McTeagle California Sept. 20
We spend hundred of billions of dollars every year on the types of weapons that won WWII, while the real threat to our Republic and yes, our civilization, is ,,, It's funny and tragic, simultaneously.
Sigmond C. Monster Point Magu Sept. 20
Antifa has done a lot of things. They have chosen to step into the arena. Whether they did it or not, this is accusation is a result of wading into the fight. If Antifa doesnt like to be accused of things and cant handle it, then Antifa should step off. Or does Antifa only want praise? Because that isnt going to happen. Many people dont like Antifa nor trust Antifa. And rightfully so. Ask any career criminal how many times they've been wrongfully accused of something. If an individual or group doesnt want to be accused of things, then dont get involved from the start.
Larry Klein Walnut Creek Ca Sept. 20
When people are uneducated, they do not understand what is happening around them. So they make up explanations to calm their uncertainty...
JQGALT Philly Sept. 20
Except that about a dozen people have been arrested and charged with starting the forest fires. Shouting "without evidence!" doesn't make it so. Facts matter.

Andy
MD Sept. 20
@JQGALT There are always people who are setting fires whether accidentally or intentionally. Do you have any proof that these arsonists were politically motivated I any way ?
99percent downtown Sept. 20
Why does NYT bend over to support Antifa? Kristof's 2nd headline should be changed to: "Absolute Defense of Antifa is a symptom of a deeper unraveling, and a sign of danger ahead." We know for a fact: BLM/Antifa destroyed thousands of buildings across the country in the last 90 days. Literally thousands. Minneapolis alone lost 700: https://minnesota.cbslocal.com/2020/06/16/minneapolis-issues-map-showing-extent-of-buildings-damaged-in-unrest-over-george-floyds-death / We know for a fact: At least 6 arsonists set fires in Oregon - one of which was the largest outbreak: https://www.oregonlive.com/wildfires/2020/09/rash-of-oregon-arson-cases-fuel-fear-conspiracy-theories-during-devastating-wildfires.html We are justified to assume: Other fires were set by arsonists, but were not caught. One man all alone with a pack of matches is hard to prove beyond a reasonable doubt to be Antifa. But common sense supports what we believe in our own hearts: the individual radical arsonists are most likely Antifa. Why does NYT bend over to support Antifa? 9 Recommend Share
Thomas Shapley Washington State Sept. 20
Yet the Almeda fire in Oregon that destroyed more than 2,300 homes was, according to NYT reporting, caused by human activity and is subject of a "criminal investigation." Perhaps it would be wise to reserve total judgment until that investigation is completed.

Observer of the Zeitgeist
Middle America Sept. 20
Who needs rumors? The organization showed what it is made of when it created its free zone in downtown Seattle and had the highest crime and murder rate per capita in its short life in the country.

joe
atl Sept. 20
Rational people know that Antifa is not staring forest fires. However, burning and looting and using fireworks as weapons in the recent riots make even the dumbest claims of Trump supporters more believable.
LV USA Sept. 20
Leftwing activists have literally been arrested for starting some of these fires. There is video of arsonists being caught, yet the media ignores this, and actively denies it. Gee, why could that be?

Andy
MD Sept. 20
@LV Do you have any proof that these people were were left wing activist or just the kind of people who are always starting fires ad they have in the past ?

Cloudy
San Francisco Sept. 20
Oh, I guess all those videos of protesters in Portland burning down police stations were fake. Good to know.

me again
NYC- SF Sept. 20
The [neoliberal] left spends 24/7 preaching to their choir about Trump fascists dictatorship, an illegal government installed by a foreign power, destroying the constitution while preparing to seize power and ignore coming election results. There is a zero factual evidence for it, such as a refusal to follow judicial injunctions for example, but their well educated audiences are buying it whole day long. So what is so baffling that a rural audience after watching night after night Portland burning by arson and accompanied by "peaceful protest" graphics on TV would buy into arson speculations and rumors and ignore your disclaimers?

Socrates
Verona, N.J. Sept. 20
Facebook needs to be regulated since it has effectively organ-harvested the critical thinking skills of a significant portion of the population. It'd be better if thinking people simply deleted Facebook and let Facebook shrink and become the right-wing agit-prop tool that it truly is. Mark Zuckerberg is happy to to destabilize society with his little toy invention. You'd think with all that money, he could afford a conscience. What a wrecking ball Facebook is.

Reasonable
Orlando Sept. 20
"All this rumormongering leaves me feeling that the social fabric is unraveling, as if the shared understanding of reality that is the basis for any society is eroding." Ya think?

AU
San Diego, CA Sept. 20
@California Scientist Amen. We are more like an international terminal at this point. A bunch of people gathered by happenstance, heading in different directions, and often with very little in common.

Steve Bolger
New York City Sept. 20
@California Scientist: It is even worse than when Adlai Stevenson noted that there aren't enough educated people to elect a liberal government in the US.
MegWright Kansas City Sept. 20
@LV - The point is that "urbanites" aren't able to boss anyone around. It's the low population rural areas that have outsize political power thanks to the unfortunate design of our government. Every state gets two senators, regardless of population, and that also factors into the allocation of Electoral College votes, so that an EC vote from WY is worth 4 times as much as an EC vote from CA, for example. In 2016, Senate Democrats got 20 million more votes than Senate Republicans, yet Republicans kept control. In 2018, Senate Democrats got "only" 11.5 million more votes, and consequently lost seats. We're being governed by a minority in may areas of the country, and nationally, yet the "rural rubes" or whatever you want to call them, insist that they don't have nearly enough power.

M
CA Sept. 20
Six accused of starting Oregon blazes amid devastating wildfire season - NYPost
Robert Out west Sept. 20
Nice try at making it seem these loons started the big fires. https://www.oregonlive.com/wildfires/2020/09/rash-of-oregon-arson-cases-fuel-fear-conspiracy-theories-during-devastating-wildfires.html They're loons, okay? Just loons.

Rolfe
Shaker Heights Ohio Sept. 20
Strange that anyone living in or just knowing the west would NOT know that arsonists could not burn down huge chunks of forest if they where not so very dry.

Augury Unhappy
Bird Watcher, State of Grave Doubt Sept. 20
The ugly truth of Oregon's political past is asserting itself...we aren't in "Portlandia" anymore Nick.

Victor
Yokohama Sept. 20
The social fabric in the United States was never tightly knit and tolerance has always been in short supply...

Dang
Vermont Sept. 20
The adage "A sucker is born every day" has never rung truer. That people believe these rumors says a whole lot about how gullible many people are...

Schrodinger
Northern California Sept. 20
Ominous! There are two information ecosystems in this country and Americans increasingly live in different realities. Much of the media is in the business of massaging the egos of their readers by feeding them stories that confirm their biases and make them feel clever. There is less and less fact based news and more and more propaganda. A lot of people aren't really interested in facts. They just want to be told how right they are and how stupid and evil the people who disagree with them are. Media corporations are providing the market with what it desires, and what it desires is poisonous.
JRM Melbourne Sept. 20
The fires and storms, the pandemic, stupid conspiracy theories, Black Lives Matter, Trump and his sycophants...

Ilene Bilenky
Ridgway, CO Sept. 20
There is a reptilian brain need to believe this nonsense and to propagate it- because the believers are so terrified of the facts of the truth (and the lack of knowing what might be done to address those facts). The people who are true believers are pointless to discuss. They are too frightened. They need to believe this stuff. It is hopeless to address them. Dark times, indeed.

stormy
raleigh Sept. 20
With the natural buildup of combustible matter, combined with houses everywhere now and little land management, these fires will happen and will cause problems. Lots of things can start them and they will.
Len Arends California Sept. 20
You left out "a century of zero-tolerance policies toward wildland fires (creating precariously dense underbrush), and resistance to traditional controlled burning at the human/wilderness interface". It's not the whole story, but neither is climate change which, due to global technological leveling, is evermore the responsibility of China and India than Western civilization. Signed, a moderate progressive endlessly frustrated with breathless liberalism

Cenvalman
Fresno, CA Sept. 20
If only there were no arsonists. Here is a video of a woman who found a man on her property with matches in his hand (and no cigarettes, which was his excuse for having matches in his hand). She made a citizen's arrest. This happened in peaceful Oregon. Don't listen if you can't handle harsh language by a woman who is trying to save her property. Arson is real, and it is no joke. https://www.youtube.com/watch?v=GJW_M4pBCnY A man was arrested for arson in Southern Oregon. His fire damaged or destroyed numerous homes. https://abcnews.go.com/US/man-charged-arson-connection-almeda-fire-southern-oregon/story?id=72960208 Rumors of antifa notwithstanding, people in Oregon were looking for arsonists because there are arsonists.
Steve Fankuchen Oakland, CA Sept. 20
"Conspiracy theories" are, for the most part, not theories, merely assertions. A theory is subject to proof and disproof by evidence. In a world where truth has no inherent monetary value, don't expect it. To paraphrase President Clinton, "It's the internet, Stupid!" Follow the money: Agenda + Clickbaitability = Prominence That is the business model of the internet, a medium where "news" is whatever will produce the most clicks. As in profit. Unless and until the youngest generation developes a means of communication that does not depend on megacorporations, nothing will change. In the Sixties, a generation which disbelieved and had no honest access to the traditional media, created its own, the "alternative press." Hopefully, today's teenagers will develope their own way to communicate that is reliable. It is 100% guaranteed that if their "opposition" becomes an actual threat to the profits of Facebook, Google, Apple, Twitter, and the rest of their ilk, they will be cut off. As to why people attach themselves to "conspiracy theories", it's actually quite simple. Take QAnon for example: it is functionally just another religion competing for adherents. As with any religion, it offers its believers an explanation of what they deem is wrong while offering a path to right those wrongs. Certainty and simplicity: those are the essential elements of cults/religion/bumpersticker politics. And the internet guarantees that whatever you believe will be "validated."

Steve Fankuchen
Oakland, CA Sept. 20
"Conspiracy theories" are, for the most part, not theories, merely assertions. A theory is subject to proof and disproof by evidence. In a world where truth has no inherent monetary value, don't expect it. To paraphrase President Clinton, "It's the internet, Stupid!" Follow the money: Agenda + Clickbaitability = Prominence That is the business model of the internet, a medium where "news" is whatever will produce the most clicks. As in profit. Unless and until the youngest generation developes a means of communication that does not depend on megacorporations, nothing will change. In the Sixties, a generation which disbelieved and had no honest access to the traditional media, created its own, the "alternative press." Hopefully, today's teenagers will develope their own way to communicate that is reliable. It is 100% guaranteed that if their "opposition" becomes an actual threat to the profits of Facebook, Google, Apple, Twitter, and the rest of their ilk, they will be cut off. As to why people attach themselves to "conspiracy theories", it's actually quite simple. Take QAnon for example: it is functionally just another religion competing for adherents. As with any religion, it offers its believers an explanation of what they deem is wrong while offering a path to right those wrongs. Certainty and simplicity: those are the essential elements of cults/religion/bumpersticker politics. And the internet guarantees that whatever you believe will be "validated."
AU San Diego, CA Sept. 20
" All this rumormongering leaves me feeling that the social fabric is unraveling, as if the shared understanding of reality that is the basis for any society is eroding." You betcha. (Palin doesn't look half bad compared to the current batch.) It's a simple formula: social media driven disinformation + extreme capitalism which leaves us with no real will to address it + legitimate grievances like racism and financial insecurity = craziness on all sides, fanned by a president whose personal agenda takes precedence over absolutely everything. All societies are constantly dealing with potentially destabilizing threats. Their institutions, media, leadership, and understanding of a common good are their immune system. Ours is compromised, we are destabilized.
Ludmilla Wightman Princeton NJ Sept. 20
How about a judicious Forrest management? We live in a period of global warming because of our planet axis precision, aggravated by the presence of an unprecedented population explosion needing more water, more food, the production of which needs more arable land, cutting trees, displacing wild animals, exhausting the aquifer. Cutting trees increases the CO2 in the atmosphere. More people in India, more cattle emitting methane, more old fashioned way of cooking food and producing more CO2 ... Permanent frost melting also sends more methane in the atmosphere ... The climate is extremely complex to permit exact modeling, but it is clear that if we want to stay healthy, it is vital to regularly clear our western forests of dead wood in order to prevent today's disaster of millions of people, particularly children with asthma and old people breathing the heavily polluted air. It is time to move to solar, wind power, electric trucks, cars etc. The technology is here. Let's hope that Biden will support clean air as means to better health. If all these years instead of using abstract terms like global warming or climate change, we have been appealing to people to keep the air clean in order to have better health, perhaps they would have stopped buying the behemoths cars, producing so much pollution?

Peter
Texas Sept. 20
As Nicholas and many readers on this page already know, this commentary is more evidence of how needlessly and recklessly polarized our country has become. When tribal instincts push people to look for anything - fact, fiction or fantasy - on social media or "rage commentary" that supports and validates their identities they will glom onto it faster than maggots on dead flesh. It is a sad state of affairs when so many people of all political persuasions will not take the time - even a few minutes - to question and investigate the latest "truth" being promoted. The new culture of low information consumers seems to be spreading as fast as a pandemic despite the heroic efforts of honest journalism. I wonder if low information consumption was so endemic to the citizens of Ancient Rome and Greece - long before Twitter, Facebook and Rage TV? People, please take a moment to "click" one step further to see if the latest conspiracy story is true. Why help propagate lies? It will only come back to haunt you, or your children.
ST New York, NY Sept. 20
Antifa or not, at least some of the big fires have been started by arsonists. Of this fact we have video proof. By downplaying or even denying it, the media are just as bad as the conspiracy theorists in promoting disinformation.

Bob Koelle
Livermore, CA Sept. 20
This reminds me of a time when people saw "Reds" behind anything that was going wrong in the country. Nothing new, but just as pathetically paranoid. I wonder how many people, or their parents, fit into both groups?

AT
Idaho Sept. 20
Here's another urban myth. Ok, more a lefty myth. That we can just keep adding people to this country (urban, suburban, rural, big city, anywhere and everywhere) and it won't have any effect. With the corollary that it's just a matter of "green new deal" or everybody getting a Prius or the dummies in the sticks realizing climate change is real and then we can just go on like this forever. We can't. Not only is our much hated lifestyle, which from what I can see, nobody really wants to give up, killing us, but believing 330 million Americans that add 2-3 million more a year is not a problem at all. Our entire way of life: endless population and economic growth is unsustainable. We don't need to wait until 2050 to see it. Just step outside.
Robert Out west Sept. 20
It is very difficult to teach people that "research," doesn't mean you go to some TV show or website you like and root around for stuff that tells you what you want to hear. One prob seems to be really simple: it takes actual work to do it right. Another is that research, done well, has an ugly habit of forcing you to think at least a little about whether your own ideas make any sense. And a third is that people really, really don't like it when their political views start getting contradicted by reality. It seems to be easier to change reality than to change views, even a little. Oh, and another prob? Too few Americans really read anything worth reading. I'm all for funsies (and I've probably read more crummy science fiction than all y'all put together) but one of the joys of walking around in Paris is seeing that the kiosks and bookstores still sell a ton of stuff on philosophy, lit, economics, and that everywhere, people actually read them. Books teach thought. Newsmax don't.
Steve Bolger New York City Sept. 20
@Beer Can Boyd: As a native-born American, I think the US fell down when the Congress put "under God" into the Pledge of Allegiance in 1953, ostensibly to preclude anyone thinking about Godless communism, and gave itself a stroke.

J. Park
Seattle Sept. 20
We, all of us, need to stop accepting assertions without a source of any sort identified.

Donald
Florida Sept. 20
... So much for our useless 750 Billion dollar military budget.

Joe Smith
Chicago Sept. 20
Societies are supposed to evolve. Instead, we are descending backwards into the age of witch hunts.

Pop
PA Sept. 20
Amazing how ,close minded people become when, for them, everything is political.

Toto
Looking for Dorothy Sept. 20
The melting pot burned over. It is now a word salad. But appears there is a method to the madness. It is hard for the world to tell the madness from the method
ARL Texas Sept. 20
@Carolyn then there are the lies and the demonization of China and Russia by both parties to top it off. How can voters believe anything and decide before they vote?

Harcourt
Florida Sept. 20 Times Pick
Supporting this atmosphere of potential violence are some of my republican friends. They are mostly educated and not stupid. Yet they continue to support a man whom I think holds the responsibility for most of the violence if it comes. Now I want to get down to my point about these supporters. I believe they have succumbed to a cult-like dynamic. I say this because no rational person could possibly support Trump. Religious cults create this same addiction and irrationality. When my friends disagree with me, they try to put our friendship hostage to no further discussion of politics. They are unwilling to even be confronted with objections to their support of Trump. I have decided that I can always make new friends. What I do not want to do is take on the task of building a new country because I stayed silent.
Robbie J. Miami Florida Sept. 20
@Harcourt "They are mostly educated and not stupid." In my opinion, educated persons who behave as you describe never benefited from their education. Even worse, to me it seems like persons who behave like that are of the opinion that what they learnt in school is only for the purpose of writing the exams they needed to pass to get out of school. It was all just noise to them.

CA
Vermont Sept. 20 Times Pick
You nailed it. There is no longer "a shared reality" in America. So we have wildly different views of who Joe Biden and Donald Trump are. And how serious climate change is. And whether it's important to wear a mask. And if left-wing anarchists set forest fires. Thank you, Internet. Thank you, social media barons who refuse to ban Russian propaganda and manipulated videos. Thank you FCC that does not rein in Fox News and their promotion of lies. Who will step in and stop this madness?
AU San Diego, CA Sept. 20
@CA I agree with you completely except for the refusal to stop Russian interference. We can't. We can't unless we stop US interference in the process. The problem is that US interference, and rumor mongering, are the business model of these platforms which happen to be some of our largest companies. Extreme capitalism is preventing us from addressing any and all issues propagated by these companies. Russia is just a speck.

Objectivist
Mass. Sept. 20
Antifa adherents and wildfires ? Seems pretty far-fetched. Even ridiculous. But setting fire to occupied apartment buildings in Portland ? Oh yes, definitely. It happened, and more is on the menu, as well as municipal and federal buildings. Don't believe it ? Read the news releases for yourself, on the Portland Police Bureau's website.

James Thurber
Mountain View, CA Sept. 20
An excellent discussion of the perils of social media. Although newspapers, TV, radio, magazines have a historical principal of "generally" telling the truth, social media has opened up the world to every single Tom, Dick and Harry who with to spread their message. I believe that how we, as a nation, as a species, handle social media will define what happens over the next decade.
vw pgh Sept. 20
The state of this country is absolutely terrifying. While the shift to ever more conservative, insular, xenophobic, coroporate-controlled government has been going on for years, with the faux election of trump democracy is what has become fake, while common sense, empathy, and both fiscal and environmental responsibility have virtually disappeared. The US has gone off the deep end...

Mike S.
Eugene, OR Sept. 20 Times Pick
One of my neighbors has a bumper sticker that Covid is a Scamdemic and Plandemic...

Andy Makar
Mason County WA Sept. 20
Years ago I read a science fiction short story that is unsettling in its analogy to this situation. I starts with aliens visiting the Earth and accidently leaving behind a device that can allow metal to be manipulated by softening it, then hardening it. The device gets copied and mass produced. When they returned a year later, they come back and cannot fathom how their device could have resulted in anarchy. THAT is the internet. 5 Recommend Share
GP Oakland Sept. 20
@Andy Makar One supposes that is a reference to the origins of metalworking? And the societal changes it produced? Not bad.

GP
Oakland Sept. 20
Let me ask you all a question. If your neighbor told you the fire in a nearby Oregon town was started by antifa, how would you disprove it? Since you cannot provide evidence for a negative statement, it's difficult. There is actually some evidence that antifa did start the fire: a voice said it on the radio, and tv showed them lighting fireworks in Portland. This isn't very good evidence, but it is evidence, and you can't produce any evidence that antifa did not do it (because there can't be any.) So you are in the position of asking your neighbor to look at the quality of the evidence. This is something very few outside the legal and scientific world are capable of. But that is all you have. Ultimately, it really does go back to belief. How many of us could independently prove that the earth turns around the sun? Those of us who aren't astronomers choose to accept this belief based on what we've been told, and that's how it is with antifa starting the fires.

Blaise Descartes
Seattle Sept. 20
Kristof is afraid that fires in the West represent the new normal. The evidence suggests that this fear is well-founded. He is concerned about the government's paralysis. That is partly due to Trump, who stands a good chance of being reelected on November 3. He is worried about ordinary citizens seeking oversimplified answers and finding them in the conspiracy theories presenting the fire as the work of antifa. I am more worried about the breakdown in credibility of news sources like the NY Times, which finds itself in competition with Fox News and a host of online sources. Indeed, you-tube and facebook will select news stories for you, confirming whatever bias you bring to your reading of the news. There is no guarantee that democracy will survive. One of the things that keeps me up at night is the realization that not only the right, but the left, is subject to oversimplified presentations of global warming. Global warming is a consequence of too much population growth. But as we argue over freedoms for LGBTQ minorities liberals have neglected the importance of freedom of speech. And voices which have warned about population growth have been simply ignored by the left. It isn't enough to shift from Fords using gasoline to Teslas running on electricity. We also need to control population growth. The population of earth will double again by 2072 if current rates continue. Population growth threatens to overwhelm the attempts to move to clean energy. 2 Recommend

secular socialist dem
Bettendorf, IA Sept. 20
The scientific consensus will also conclude that not allowing wildfires to burn compounds the problem. While what I am about to type is not science, continued development in fire prone areas amplifies and compounds every aspect of the problem. From my perspective the system has evolved to socializing cost and privatizing cost in every way. I don't see it getting better, until such time as individuals are held accountable this should be considered normal.
deb inWA Sept. 20
@secular socialist dem PG&E just paid billions in fines and PLEADED GUILTY in starting last year's Paradise fire. They also have already admitted fault in several fires started by their faulty, untended grid. "Individuals" don't need to be held accountable unless there are rules in place for them to follow regarding wildfire. There already are. Most already do. Why do folks act so proud about their 'anti-science' opinion? It's not like this conversation isn't ongoing; nobody argues that development in fire prone areas' carries risks. So does rebuilding in Oklahoma, Florida and Louisiana..... You're right (although confused) about socializing RISK and privatizing PROFIT. See PG&E above.
S Day Texas Sept. 20
Unsure how people lighting fires directly indicates climate change is corroborated. The fellow who was arrested in Tacoma, WA: https://thepostmillennial.com/antifa-activist-charged-for-fire-set-in-washington Looking to past wildfires, like the one's in Montana & Idaho in 2008, 5.5 million acres were burned and certain interest groups advocated for them to burn out because it's apart of the natural cycle. Federal government shouldn't send assistance unless it's possibly to communities in threat of burning, who are humans to say we ought to stop mother nature? It's natural to let these fires burn, if you try to hinder it's course you are stopping the cycle.
Doug Terry Maryland, Washington DC metro Sept. 20 Times Pick
Why do people believe wild stupid things more than actual facts? Partly it is because they like the wild stupid thing more, it gives them some weird comfort. It is also because people are busying with their lives and don't have time to gather enough information to counter the wild rumor that flies around faster than the speed of sound. The most important aspect of successful conspiracy theories is they impart to the person holding them the idea that they are smarter than other people and have "cracked the code" that explains everything or a lot of big things that people don't understand. Reading, thinking, considering and re-considering can seem like hard work, particularly if it is foreign to one's experience and life training. Why not just lock on to a cool idea that comes around, even if it is weird? .

.. ... ...

Murphy San Francisco Sept. 20 Times Pick
This story highlights for me an equally growing problem, the "selective framing" by media outlets on the left and right (NYT and Fox as just two examples). To read Mr Kristof's version, you may believe that arsonists are wild figments of the unhinged radical right imagination. To read the same story on Fox, Antifa arsonists are working their way up your street.

Kristin
Portland, OR Sept. 20 Times Pick
"...the shared understanding of reality that is the basis for any society is eroding." And yet reality still exist. Normally, if someone starts to exhibit the kind of behavior that these "vigilantes" are - screaming about boogeymen, thinking people are out to get them, engaging in aggressive behavior based on paranoid fantasies, creating self-reinforcing delusions, becoming obsessed with baseless conspiracy theories - we would rightly diagnose them as being mentally ill, and to the extent that they represent a danger to others, confine them. I don't think we can afford to see this as just a time of extreme differences of opinion. Facts, truth and reality are still actual, tangible things. And those who have become so disassociated from them that they are stopping vehicles and hunting down their fellow citizen need to be dealt with appropriately.

phornbein
Colorado Sept. 20
We have been witnessing the start of the Second Civil War in America. If we accept the definition of a civil war as a conflict between factions of citizens for either secession or control of the government--including organizations within the existing government--then we are in the beginning stages of a Second Civil War. The question is what the level of violence will be (not will there be violence, but how much violence). We are beginning to see indications of that level. When naturally or accidentally caused wildfires are attributed to one faction as a way to stoke the fires of civil violence, then physical violence between factions is a heartbeat away simply because of the falsity and extremity of the accusations. The era of peaceful protest has passed because of the intensity of feelings on both sides; the anger produced when a government begins denying civil rights, e.g., Freedom of Speech and the Right to Assemble, through legal actions where protest organizers could be charged with sedition (see Barr's comments, 9/16/2020, NYT), which then suggests that all protests become illegal, the fires of violence are stoked. With a heavily-armed populace on both sides, gunfire is a hair-trigger pull away. If Trump and the Republican's intention was to remake America in their image (I leave it to you to supply that image), they are succeeding. If Putin's intention was to bring down America, he is succeeding. If Xi's intention was to dominate the world, he is on that path. Vote 33 Recommend Share
Jumblegym Longmont CO Sept. 20
@phornbein They may have already done it. Keep your powder dry.

Mac
New York Sept. 20
The social fabric has unraveled. Aided and abetted by the world of the social networks....
Brooklyncowgirl USA. Sept. 20
... There's an old saying "Those who the gods would destroy they first make mad." I have come to the conclusion that America has gone qute a long way down that road.
Jontavious Atlanta Sept. 20
And yet, Mr. Kristoff, you never make mention of the real threat that groups like Antifa and other radical left rioters pose to this country (forgetting about attacks on federal buildings in Portland? Attempts to firebomb courthouses? Violence against law enforcement officers?). No, instead it's always Trump, or Trump supporters who are your focus. I do not know whether Antifa has been involved in any of these recent fires, but I do know that these violent elements on the left pose a massive danger to our democracy. You are correct about one thing, though: We should brace ourselves. It's just "what" we need to brace for that is off mark in your article...
Jean CA Sept. 19
It's heartbreaking to watch these three West Coast states burned. For days, the sky was red and the air was unbreathable. But the saddest part was the feeling of helplessness.

Aram Hollman
Arlington, MA Sept. 19
40 years ago, I hitchhiked around the Pacific Northwest during the summer after Mt. St. Helens blew up. Mt. Rainier was ash-coated, as were the wild blueberries I often ate. Epic and Biblical are words inadequate to describe that destruction near Mt. St. Helens, with millions of huge, old trees blown down, piles of mud, and rivers diverted. Yet I and others knew that eventually, that land would regrow, and it did.
Stephanie Wood Montclair NJ Sept. 20
I see a lot of egotism and self-love on both sides. The so-called progressives in our community are breeding at baby boom levels, driving SUVs, and, before the pandemic, you'd see a dozen school buses idling outside every school. Development is out of control as people flee from the city, and people flee from here, or downsize, and breed and breed and breed. Two years ago, we had a flash flood and our street was under water, and there was a lot of damage all over town. Hurricane Irene in 2011 left many with over a foot of water in their basements. And let's not even start on Sandy. My friend lives in Pensacola; their downtown area is under three or four feet of water from Hurricane Sally. It's not just fire, it's floods, and it's not just the GOP which is the problem...
Ted Magnuson Portland OR Sept. 19
That the fires have become a political football is well covered in this piece. As was the climate change crisis...

John Brown
Idaho Sept. 19
I don't blame anyone for guarding their roads if they think arsonists are about. The Tillamook Burn was larger and more devastating than these fires but are we to blame climate change ? Environmentalists and Liberals who do not even live out West, who did not rely upon Logging, placed their concerns about the Spotted Owl and Virgin Forests about the danger of Forest Fires and the livelihood of Loggers and the Towns and Peoples who depended upon Logging. Managed Logging of Forests is not an inherently evil act. Clearing the bush and dead trees is not bad in and of itself. Let Logging companies responsibly manage sections of the Forrests, let Towns clear fire breaks around their perimeters. Place large Water towers in strategic points throughout the Forests, huge mounds of dirt/sand/gravel next to them so that the Firefighters have what they need to fight the fires. Force developers to build houses 50 feet apart. Require fireproof roofs, require thinning of trees in housing developments. Require volunteer Fire Departments in every neighborhood so that if they do nothing else, they can cut a fire break, water down the grasses around their neighborhoods, chase and extinguish embers, something/anything versus fleeing their homes without putting up a fight.

Robert
Seattle Sept. 19
"... dry conditions exacerbated by climate change coupled with an unusual windstorm ..." May I add that a couple of other things have also contributed to making the fires worse or making them harder to manage? For a century or so, in California, Oregon and Washington we have not been letting the normal, periodic fires burn. Consequently, a great deal of fuel has built up on the forest floor. Second, folks have increasingly been building homes or even neighborhoods in places which have historically seen such normal, periodic fires.

Elizabeth
CA Sept. 20
@Robert Yes. But now controlled burns are a bit problematic, given the droughts, the heat, the massive fuel loads from all the dead trees. It's just so easy for the controlled burns to get out of control.

Carver
Oregon Sept. 19
Hi, I am from Clackamas County metro. Every time a FaceBook "Friend" (and I personally know all of mine) posted a rumor, I tried to find the footage from any of our 4 local news stations to depute their post but they just shared another one. One said she didn't trust KGW 8 the local NBC station and when I told her the same story was on KPTV 12, the local Fox station. She said, "I'm just stressed"
M.i. Estner Wayland, MA Sept. 19
@David Biesecker Remember that half the people are of below average intelligence. That may answer the existence of the small percentage of conspiracy theorists. One problem is social media provides free and outsized loudspeaker systems that enables them to find each other.

GreenSpirit
Pacific Northwest Sept. 19
@M.i. Estner First, let me identify myself as a liberal Democrat who has a masters degree. I find it more than disheartening when half of the country, or half of rural or not formally educated folks are said to have low intelligent quotas, critical thinking skills or analytical abilities. You better believe that when a highly trained Eastern Oregon firefighter is assessing how to save peoples lives, homes and land, has to quickly act with their many faceted skill set and are calling on abilities you or I would not be able to fathom. Same with farmers of large pieces of complicated crops and land. Same with city managers, librarians, and social workers for the elderly--all having low city budgets. What about the veterinarians, doctors and nurses in rural areas? This is exactly the same as calling Black or Hispanics people of lower intelligence. And, there are different types of intelligence. I know a literary critic, a liberal Democrat, who doesn't have the critical thinking skills to run her own home or raise her children. If you look, you can see these same differences in any group. It has to do with the way people are raised, what they are using their skill sets for, what information they are used to consuming, money, ideology, etc...And it has to do with being devalued for growing your food, producing your meat, chicken and eggs. I'm not excusing the violence, guns, racism and hatred. These divides have been with us for ages. Please don't stoke the fires.

Usok
Houston Sept. 19
If we have a selfish federal government, then we will have selfish states and people. Everyone is for himself or herself. No one will think about other people or public good. It all started from the top
Kathy Lollock Santa Rosa, CA Sept. 19
In 2017, 2018, and 2019 northern California's new phenomenon of forceful 40 to 60 miles per hour winds - in Fall, no less - caused old and aging electrical equipment to malfunction. As a consequence, too much of Santa Rosa burnt to the ground, and the entire town of Paradise ceased to exist. This year during the heat of a hotter than usual summer following yet another dry winter, we had dry lightning strikes from Sonoma County to Santa Clara County and beyond.

Stuck on a mountain
New England Sept. 19
Yes, the science is clear and you fail to mention it. The forest fires reach critical mass and spread because of the surplus of dead or dying trees. They are there because the federal government essentially no longer allows logging on its vast landholdings and also fails to allow controlled burns to clean out the tinderbox. I won't bother attaching a link because any Google search proves the point. Why focus on hysteria and rumermongering among the Deplorables? Come on, Mr. Kristof, you were a Deplorable once (when you were a kid growing up in the countryside) as was I. Please defend them sometimes, particularly when the actual causes are so well documented.

Jorn
Sagebrush Country Sept. 19
@Stuck on a mountain Western States are working to clear the brush from forests where, due to our previous incomplete understanding of forest ecology, fires were suppressed for a century. However, the cost is astronomical and there are millions of acres left to clear. Spending their entire forest management budgets fighting current wildfires doesn't help. We've been doing controlled burns for decades but in many areas, they're now too dangerous. Dry forests and a dense understory can quickly turn a "controlled burn" into a conflagration. Many ranchers and timber companies who profit from our state and national forests seem unwilling to pay to keep those forests healthy. People who live in or near forests mostly have incomes too low to pay for forest management. The National Forest Service, Department of the Interior and USDA have made some progress, but the problem is huge. Saying we can prevent forest fires by allowing larger timber harvests is an oversimplification. No solution to this complex issue will be simple, perfect or cheap.

Glenn Ribotsky
Queens Sept. 19
Wacky conspiracy theories to explain seemingly bizarre and unusual occurrences have been around since the dawn of human cognition. But in an electronic/social media age, these get spread even faster than a wind-blown fire climbs a canyon hillside. Previously, they were spread one set of ears at a time; now millions of eyes can read them every second. And that is a major part of the problem.

DeHypnotist
West Linn, Oregon Sept. 19
As a grad student in sociology, having lived through the 60s and participated in the counterculture, I was deeply intrigued by the social construction of reality - how we come to share a taken-for-granted world. This is a long-standing concern within sociological social psychology. We examined how language, interpersonal communications, media and social structure shaped ones perception of one's self, what is real, what's important. At the time, however, this was considered theoretical and academic. 40 years later, understanding how Americans' realities have come to diverge is no longer armchair social science. It's urgent and in our faces, as is the question of how can we heal this terrible fracturing of our world?

Alex B
Newton, MA Sept. 19
@DeHypnotist Yes. When studying for the degree in and then teaching sociology in my early years, I learned that, too. But, I have to admit, it's actually taken all the decades of life since then, and now the obvious confirmation of it by this current 'reality' to actually realize, deep down in my guts, that we 'make up' our so-called 'social reality' simply to serve the most basic of biological requirements: the need to dominate in the deadly completion with the other 'tribes' of our species just to survive. We are, after all, animals like all the others, no matter how much we blab about how much 'smarter' we are.

Metaecongary
Show Low, AZ Sept. 20
@Alex B The primal driver, deep in the core of our brain, is usefully thought of as "reptilian." Cold-blooded. Egoistic. Hedonistic. And, in extreme cases, narcissistic, and, heaven forbid when all three are present...

Linda
Anchorage Sept. 19
I lived for a few years in Brazil when it was a dictatorship. The similarities between Brazil and what is happening in the US is startling. The police were being used to quell peaceful protesters and the justice system co-opted by authorities, fear mongering were present, just as now in the US....

Lois Ruble
San Diego Sept. 19
I didn't live in the US from 1977-1999, only visiting on short trips. That enabled me to see changes in society that were slow and not seen by those residing here. And when I came back permanently I could feel immediately a deep change....

JD Athey
Oregon Sept. 20
@Thomas Murphy 'Pandering to the lowest common denominator is how they play their game, and always have:'
Agoldstein Pdx Sept. 19
Perhaps an apt metaphor for the "danger sign ahead" is the approach of a Category three hurricane and it's increasing in intensity. One of the stark disconnects is between the message in an article like this and the politicians and citizens who are little concerned about tempering rhetoric and elevating the importance of eschewing misinformation. We are in the Misinformation Age and the victims of a cyber war, evolving into a civil war.
Giogio Houston Sept. 20
@ML What is happening here? These are the beginnings of what happened in Germany in the 30s. Over there the reason was the loss of WWI. Here, is the obvious decline of the American lifestyle and we have not seen anything yet. The range of the economic decline is covered by 7 trillion dollars in phony money. I fervently hope and pray that is not too late to stop the process. All men and women of goodwill have to rally to restore a sane, and one, country . Stay safe! It is going to get worse before it gets better.

grennan
green bay Sept. 19
@FunkyIrishman Right on. Water is an enormous issue waiting to happen here -- and Wisconsin is estimated to have between 10 and 20 percent of the world's fresh water (depending on how it's calculated and whether that includes some of Lakes Michigan and Superior. A Dept. of Climate, Weather and Water would be a logical cabinet department.

poslug
Cambridge Sept. 20
@FunkyIrishman And polluting the potable water continues sometimes by the most resolvable modern approaches: sewers and water treatment plants. Reagan ended federal funding for sewers leaving septic systems (and now ancient sewers) where sewers would lead to protected fresh water. All the medicines, chemicals, and toxins seep unseen but very real into fresh and also salt water. We are not a modern nation any more.

[Sep 23, 2020] How Globalization Destroyed the Western Middle Class

Notable quotes:
"... "Another chasm opened between middle-class Westerners and their wealthy compatriots. Here, too, the middle class lost ground. It seemed that the wealthiest people in rich countries and almost everybody in Asia benefited from globalization, while only the middle class of the rich world lost out in relative terms. These facts supported the notion that the rise of "populist" political parties and leaders in the West stemmed from middle-class disenchantment. ..."
Sep 23, 2020 | www.blacklistednews.com

HOW GLOBALIZATION DESTROYED THE WESTERN MIDDLE CLASS Published: September 15, 2020
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SOURCE: INSIGHT HISTORY

The world is becoming more equal but largely at the expense of middle-class Westerners, according to a recent paper by Branko Milanovic , a Stone Center Senior Scholar and a Centennial Professor at the London School of Economics. Milanovic's paper was published in Foreign Affairs, the publication of the think tank, the Council on Foreign Relations (CFR), and was titled: The World Is Becoming More Equal, Even as Globalization Hurts Middle-Class Westerners . Broadly speaking, globalization is the process of increased " worldwide integration of the economic, cultural, political, religious, and social systems" of the globe, producing an increased flow of goods, capital, labour, and information, across national borders. It was a process that gained steam particularly in the mid-1980s, with globalization having the greatest transformative impact on life since the Industrial Revolution .

Milanovic's paper starts by arguing that the world became more equal between the end of the Cold War and 2007/08 financial crisis, a period of high globalization. During this period however, globalization weakened the middle class in the West. As Milanovic writes :

"The results highlighted two important cleavages [or divisions]: one between middle-class Asians and middle-class Westerners and one between middle-class Westerners and their richer compatriots. In both comparisons, the Western middle class was on the losing end. Middle-class Westerners saw less income growth than (comparatively poorer) Asians, providing further evidence of one of the defining dynamics of globalization: in the last 40 years, many jobs in Europe and North America were either outsourced to Asia or eliminated as a result of competition with Chinese industries. This was the first tension of globalization: Asian growth seems to take place on the backs of the Western middle class."

Milanovic continues :

"Another chasm opened between middle-class Westerners and their wealthy compatriots. Here, too, the middle class lost ground. It seemed that the wealthiest people in rich countries and almost everybody in Asia benefited from globalization, while only the middle class of the rich world lost out in relative terms. These facts supported the notion that the rise of "populist" political parties and leaders in the West stemmed from middle-class disenchantment. "

Milanovic goes on to note that in an updated paper that looks at incomes in 130 countries from 2008 to 2013-14, the first tension of globalization holds true: in that, the incomes of the non-Western middle class grew more than the incomes of the middle class in the West. The impact of globalization on the Western middle class is imperative to understand. Globalization is a process that has produced winners and losers , and the Western middle class has been the greatest loser.

In my opinion, any system that weakens the middle class in any country should be seen as counterproductive. Having a strong middle class is one of the most important tenets in building a strong, prosperous, and stable society. The middle class serves as the bedrock of any country: those who comprise the middle-class work hard, pay taxes, and buy goods. A true solution to poverty in underdeveloped countries would create more prosperity for everyone, not take prosperity from one region and redirect it into another. This so-called solution creates at least as many problems as it supposedly solves.

Globalization has produced, and will seemingly continue to produce, a global standardization of wealth in many ways. For those special interests who are in the process of creating a global system, an economic uniformity across the globe is advantageous for the creation of this one-world system.

Sources

Globalization Definition, Oxford Reference - https://www.oxfordreference.com/view/10.1093/oi/authority.20110803095855259

MÜNCHAU , W. (24 April, 2016) The revenge of globalisation's losers, Financial Times https://www.ft.com/content/a4bfb89a-0885-11e6-a623-b84d06a39ec2

Milanovic, B. (28 Aug. 2020) The World Is Becoming More Equal, Even as Globalization Hurts Middle-Class Westerners. Foreign Affairs https://www.foreignaffairs.com/articles/world/2020-08-28/world-economic-inequality

Milanovic, B. (13 May, 2016) Why the Global 1% and the Asian Middle Class Have Gained the Most from Globalization, Harvard Business Review https://hbr.org/2016/05/why-the-global-1-and-the-asian-middle-class-have-gained-the-most-from-globalization

Vanham, P. (17 Jan. 2019) A brief history of globalization, World Economic Forum https://www.weforum.org/agenda/2019/01/how-globalization-4-0-fits-into-the-history-of-globalization/

[Sep 21, 2020] How the west lost by Anatol Lieven

Highly recommended!
A very good article. A better title would be "How neoliberalism collapsed" Any religious doctrine sonner or later collased under the weight of corruption of its prisets and unrealistic assumptions about the society. Neoliberalism in no expection as in heart it is secular religion based on deification of markets.
He does not discuss the role of Harvard Mafiosi in destruction of Russian (and other xUSSR republics) economy in 1990th, mass looting, empowerment of people (with pensioners experiencing WWII level of starvation) and creation of mafia capitalism on post Soviet state. But the point he made about the process are right. Yeltsin mafia, like Yeltsin himself, were the product of USA and GB machinations
Notable quotes:
"... If the US (and the UK, if as usual we tag along) approach the relationship with Beijing with anything like the combination of arrogance, ignorance, greed, criminality, bigotry, hypocrisy and incompetence with which western elites managed the period after the Cold War, then we risk losing the competition and endangering the world. ..."
"... One of the most malign effects of western victory in 1989-91 was to drown out or marginalise criticism of what was already a deeply flawed western social and economic model. In the competition with the USSR, it was above all the visible superiority of the western model that eventually destroyed Soviet communism from within. ..."
"... These beliefs interacted to produce a dominant atmosphere of "there is no alternative," which made it impossible and often in effect forbidden to conduct a proper public debate on the merits of the big western presumptions, policies or plans of the era ..."
"... This was a sentiment I encountered again and again (if not often so frankly expressed) in western establishment institutions in that era: in economic journals if it was suggested that rapid privatisation in the former USSR would lead to massive corruption, social resentment and political reaction; in security circles, if anyone dared to question the logic of Nato expansion ..."
"... Accompanying this overwhelmingly dominant political and economic ideology was an American geopolitical vision equally grandiose in ambition and equally blind to the lessons of history. This was summed up in the memorandum on "Defence Planning Guidance 1994-1999," drawn up in April 1992 for the Bush Senior administration by Under-Secretary of Defence Paul Wolfowitz and Lewis "Scooter" Libby, and subsequently leaked to the media ..."
"... By claiming for the US the right of unilateral intervention anywhere in the world and denying other major powers a greater role in their regions, this strategy essentially extended the Monroe Doctrine (which effectively defined the "western hemisphere" as the US sphere of influence) to the entire planet: an ambition greater than that of any previous power. The British Empire at its height knew that it could never intervene unilaterally on the continent of Europe or in Central America. The most megalomaniac of European rulers understood that other great powers with influence in their own areas of the world would always exist. ..."
"... "A stable and healthy polity and economy must be based on some minimal moral values" ..."
"... Many liberals gave the impression of complete indifference to the resulting immiseration of the Russian population in these years. At a meeting of the Carnegie Endowment in Washington that I attended later, former Prime Minister Yegor Gaidar boasted to an applauding US audience of how he had destroyed the Russian military industrial complex. The fact that this also destroyed the livelihoods of tens of millions of Russians and Ukrainians was not mentioned. ..."
"... This attitude was fed by contempt on the part of the educated classes of Moscow and St Petersburg for ordinary Russians, who were dubbed Homo Sovieticus and treated as an inferior species whose loathsome culture was preventing the liberal elites from taking their rightful place among the "civilised" nations of the west. This frame of mind was reminiscent of the traditional attitude of white elites in Latin America towards the Indio and Mestizo majorities in their countries. ..."
"... I vividly remember one Russian liberal journalist state his desire to fire machine guns into crowds of elderly Russians who joined Communist demonstrations to protest about the collapse of their pensions. The response of the western journalists present was that this was perhaps a little bit excessive, but to be excused since the basic sentiment was correct. ..."
"... If the post-Cold War world order was a form of US imperialism, it now looks like an empire in which rot in the over-extended periphery has spread to the core. The economic and social patterns of 1990s Russia and Ukraine have come back to haunt the west, though so far thank God in milder form. The massive looting of Russian state property and the systematic evasion of taxes by Russian and Ukrainian oligarchs was only possible with the help of western banks, which transferred the proceeds to the west and the Caribbean. This crime was euphemised in the western discourse (naturally including the Economist ) as "capital flight." ..."
"... The indifference of Russian elites to the suffering of the Russian population has found a milder echo in the neglect of former industrial regions across Britain, Western Europe and the US that did so much to produce the votes for Brexit, for Trump and for populist nationalist parties in Europe. The catastrophic plunge in Russian male life expectancy in the 1990s has found its echo in the unprecedented decline in white working-class male life expectancy in the US. ..."
"... Perhaps the greatest lesson of the period after the last Cold War is that in the end, a stable and healthy polity and economy must be based on some minimal moral values. ..."
"... Those analysing the connection between Russia and Trump's administration have looked in the wrong place. The explanation of Trump's success is not that Putin somehow mesmerised American voters in 2016. It is that populations abandoned by their elites are liable to extreme political responses; and that societies whose economic elites have turned ethics into a joke should not be surprised if their political leaders too become scoundrels. ..."
Sep 21, 2020 | prospectmagazine.co.uk

A s the US prepares to plunge into a new cold war with China in which its chances do not look good, it's an appropriate time to examine how we went so badly wrong after "victory" in the last Cold War. Looking back 30 years from the grim perspective of 2020, it is a challenge even for those who were adults at the time to remember just how triumphant the west appeared in the wake of the collapse of Soviet communism and the break-up of the USSR itself.

Today, of the rich fruits promised by that great victory, only wretched fragments remain. The much-vaunted "peace dividend," savings from military spending, was squandered. The opportunity to use the resources freed up to spread prosperity and deal with urgent social problems was wasted, and -- even worse -- the US military budget is today higher than ever. Attempts to mitigate the apocalyptic threat of climate change have fallen far short of what the scientific consensus deems to be urgently necessary. The chance to solve the Israeli-Palestinian conflict and stabilise the Middle East was thrown away even before 9/11 and the disastrous US response. The lauded "new world order" of international harmony and co-operation -- heralded by the elder George Bush after the first Gulf War -- is a tragic joke. Britain's European dream has been destroyed, and geopolitical stability on the European continent has been lost due chiefly to new and mostly unnecessary tension with Moscow. The one previously solid-seeming achievement, the democratisation of Eastern Europe, is looking questionable, as Poland and Hungary (see Samira Shackle, p20) sink into semi-authoritarian nationalism.

Russia after the Cold War was a shambles and today it remains a weak economy with a limited role on the world stage, concerned mainly with retaining some of its traditional areas of influence. China is a vastly more formidable competitor. If the US (and the UK, if as usual we tag along) approach the relationship with Beijing with anything like the combination of arrogance, ignorance, greed, criminality, bigotry, hypocrisy and incompetence with which western elites managed the period after the Cold War, then we risk losing the competition and endangering the world.

One of the most malign effects of western victory in 1989-91 was to drown out or marginalise criticism of what was already a deeply flawed western social and economic model. In the competition with the USSR, it was above all the visible superiority of the western model that eventually destroyed Soviet communism from within. Today, the superiority of the western model to the Chinese model is not nearly so evident to most of the world's population; and it is on successful western domestic reform that victory in the competition with China will depend.

Hubris

Western triumph and western failure were deeply intertwined. The very completeness of the western victory both obscured its nature and legitimised all the western policies of the day, including ones that had nothing to do with the victory over the USSR, and some that proved utterly disastrous.

As Alexander Zevin has written of the house journal of Anglo-American elites, the revolutions in Eastern Europe "turbocharged the neoliberal dynamic at the Economist , and seemed to stamp it with an almost providential seal." In retrospect, the magazine's 1990s covers have a tragicomic appearance, reflecting a degree of faith in the rightness and righteousness of neoliberal capitalism more appropriate to a religious cult.

These beliefs interacted to produce a dominant atmosphere of "there is no alternative," which made it impossible and often in effect forbidden to conduct a proper public debate on the merits of the big western presumptions, policies or plans of the era. As a German official told me when I expressed some doubt about the wisdom of rapid EU enlargement, "In my ministry we are not even allowed to think about that."

This was a sentiment I encountered again and again (if not often so frankly expressed) in western establishment institutions in that era: in economic journals if it was suggested that rapid privatisation in the former USSR would lead to massive corruption, social resentment and political reaction; in security circles, if anyone dared to question the logic of Nato expansion; and almost anywhere if it was pointed out that the looting of former Soviet republics was being assiduously encouraged and profited from by western banks, and regarded with benign indifference by western governments.

The atmosphere of the time is (nowadays notoriously) summed up in Francis Fukuyama's The End of History , which essentially predicted that western liberal capitalist democracy would now be the only valid and successful economic and political model for all time. In fact, what victory in the Cold War ended was not history but the study of history by western elites.

"The US claiming the right of unilateral intervention anywhere in the world was an ambition greater than that of any previous power"

A curious feature of 1990s capitalist utopian thought was that it misunderstood the essential nature of capitalism, as revealed by its real (as opposed to faith-based) history. One is tempted to say that Fukuyama should have paid more attention to Karl Marx and a famous passage in The Communist Manifesto :

"The bourgeoisie [ie capitalism] cannot exist without constantly revolutionising the instruments of production, and thereby the relations of production, and with them the whole relations of society All fixed, fast-frozen relations with their train of ancient and venerable prejudices and opinions, are swept away; all new-formed ones become antiquated before they can ossify the bourgeoisie has through its exploitation of the world market drawn from under the feet of industry the national ground on which it stood. All old established national industries have been destroyed or are daily being destroyed "

Then again, Marx himself made exactly the same mistake in his portrayal of a permanent socialist utopia after the overthrow of capitalism. The point is that utopias, being perfect, are unchanging, whereas continuous and radical change, driven by technological development, is at the heart of capitalism -- and, according to Marx, of the whole course of human history. Of course, those who believed in a permanently successful US "Goldilocks economy" -- not too hot, and not too cold -- also managed to forget 300 years of periodic capitalist economic crises.

Though much mocked at the time, Fukuyama's vision came to dominate western thinking. This was summed up in the universally employed but absurd phrases "Getting to Denmark" (as if Russia and China were ever going to resemble Denmark) and "The path to democracy and the free market" (my italics), which became the mantra of the new and lucrative academic-bureaucratic field of "transitionology." Absurd, because the merest glance at modern history reveals multiple different "paths" to -- and away from -- democracy and capitalism, not to mention myriad routes that have veered towards one at the same time as swerving away from the other.

Accompanying this overwhelmingly dominant political and economic ideology was an American geopolitical vision equally grandiose in ambition and equally blind to the lessons of history. This was summed up in the memorandum on "Defence Planning Guidance 1994-1999," drawn up in April 1992 for the Bush Senior administration by Under-Secretary of Defence Paul Wolfowitz and Lewis "Scooter" Libby, and subsequently leaked to the media. Its central message was:

"The US must show the leadership necessary to establish and protect a new order that holds the promise of convincing potential competitors that they need not aspire to a greater role or pursue a more aggressive posture to protect their legitimate interests We must maintain the mechanism for deterring potential competitors from even aspiring to a larger regional or global role "

By claiming for the US the right of unilateral intervention anywhere in the world and denying other major powers a greater role in their regions, this strategy essentially extended the Monroe Doctrine (which effectively defined the "western hemisphere" as the US sphere of influence) to the entire planet: an ambition greater than that of any previous power. The British Empire at its height knew that it could never intervene unilaterally on the continent of Europe or in Central America. The most megalomaniac of European rulers understood that other great powers with influence in their own areas of the world would always exist.

While that 1992 Washington paper spoke of the "legitimate interests" of other states, it clearly implied that it would be Washington that would define what interests were legitimate, and how they could be pursued. And once again, though never formally adopted, this "doctrine" became in effect the standard operating procedure of subsequent administrations. In the early 2000s, when its influence reached its most dangerous height, military and security elites would couch it in the terms of "full spectrum dominance." As the younger President Bush declared in his State of the Union address in January 2002, which put the US on the road to the invasion of Iraq: "By the grace of God, America won the Cold War A world once divided into two armed camps now recognises one sole and pre-eminent power, the United States of America."

Nemesis

Triumphalism led US policymakers, and their transatlantic followers, to forget one cardinal truth about geopolitical and military power: that in the end it is not global and absolute, but local and relative. It is the amount of force or influence a state wants to bring to bear in a particular place and on a -particular issue, relative to the power that a rival state is willing and able to bring to bear. The truth of this has been shown repeatedly over the past generation. For all America's overwhelming superiority on paper, it has turned out that many countries have greater strength than the US in particular places: Russia in Georgia and Ukraine, Russia and Iran in Syria, China in the South China Sea, and even Pakistan in southern Afghanistan.

American over-confidence, accepted by many Europeans and many Britons especially, left the US in a severely weakened condition to conduct what should have been clear as far back as the 1990s to be the great competition of the future -- that between Washington and Beijing.

On the one hand, American moves to extend Nato to the Baltics and then (abortively) on to Ukraine and Georgia, and to abolish Russian influence and destroy Russian allies in the Middle East, inevitably produced a fierce and largely successful Russian nationalist reaction. Within Russia, the US threat to its national interests helped to consolidate and legitimise Putin's control. Internationally, it ensured that Russia would swallow its deep-seated fears of China and become a valuable partner of Beijing.

On the other hand, the benign and neglectful way in which Washington regarded the rise of China in the generation after the Cold War (for example, the blithe decision to allow China to join the World Trade Organisation) was also rooted in ideological arrogance. Western triumphalism meant that most of the US elites were convinced that as a result of economic growth, the Chinese Communist state would either democratise or be overthrown; and that China would eventually have to adopt the western version of economics or fail economically. This was coupled with the belief that good relations with China could be predicated on China accepting a so-called "rules-based" international order in which the US set the rules while also being free to break them whenever it wished; something that nobody with the slightest knowledge of Chinese history should
have believed.

Throughout, the US establishment discourse (Democrat as much as Republican) has sought to legitimise American global hegemony by invoking the promotion of liberal democracy. At the same time, the supposedly intrinsic connection between economic change, democracy and peace was rationalised by cheerleaders such as the New York Times 's indefatigable Thomas Friedman, who advanced the (always absurd, and now flatly and repeatedly falsified) "Golden Arches theory of Conflict Prevention." This vulgarised version of Democratic Peace Theory pointed out that two countries with McDonald's franchises had never been to war. The humble and greasy American burger was turned into a world-historical symbol of the buoyant modern middle classes with too much to lose to countenance war.

Various equally hollow theories postulated cast-iron connections between free markets and guaranteed property rights on the one hand, and universal political rights and freedoms on the other, despite the fact that even within the west, much of political history can be characterised as the fraught and complex brokering of accommodations between these two sets of things.

And indeed, since the 1990s democracy has not advanced in the world as a whole, and belief in the US promotion of democracy has been discredited by US patronage of the authoritarian and semi-authoritarian regimes in Saudi Arabia, Egypt, India and elsewhere. Of the predominantly Middle Eastern and South Asian students whom I teach at Georgetown University in Qatar, not one -- even among the liberals -- believes that the US is sincerely committed to spreading democracy; and, given their own regions' recent history, there is absolutely no reason why they should believe this.

The one great triumph of democratisation coupled with free market reform was -- or appeared to be -- in the former communist states of Central and Eastern Europe, and this success was endlessly cited as the model for political and economic reform across the globe.

But the portrayal of East European reform in the west failed to recognise the central role of local nationalism. Once again, to talk of this at the time was to find oneself in effect excluded from polite society, because to do so called into question the self-evident superiority and universal appeal of liberal reform. The overwhelming belief of western establishments was that nationalism was a superstition that was fast losing its hold on people who, given the choice, could everywhere be relied on to act like rational consumers, rather than citizens rooted in one particular land.

The more excitable technocrats imagined that nation state itself (except the US of course) was destined to wither away. This was also the picture reflected back to western observers and analysts by liberal reformers across the region, who whether or not they were genuinely convinced of this, knew what their western sponsors wanted to hear. Western economic and cultural hegemony produced a sort of mirror game, a copulation of illusions in which local informants provided false images to the west, which then reflected them back to the east, and so on.

Always the nation

Yet one did not have to travel far outside the centres of Eastern European cities to find large parts of populations outraged by the moral and cultural changes ordained by the EU, the collapse of social services, and the (western-indulged) seizure of public property by former communist elites. So why did Eastern Europeans swallow the whole western liberal package of the time? They did so precisely because of their nationalism, which persuaded them that if they did not pay the cultural and economic price of entry into the EU and Nato, they would sooner or later fall back under the dreaded hegemony of Moscow. For them, unwanted reform was the price that the nation had to pay for US protection. Not surprisingly, once membership of these institutions was secured, a powerful populist and nationalist backlash set in.

Western blindness to the power of nationalism has had several bad consequences for western policy, and the cohesion of "the west." In Eastern Europe, it would in time lead to the politically almost insane decision of the EU to try to order the local peoples, with their deeply-rooted ethnic nationalism and bitter memories of outside dictation, to accept large numbers of Muslim refugees. The backlash then became conjoined with the populist reactions in Western Europe, which led to Brexit and the sharp decline of centrist parties across the EU.

More widely, this blindness to the power of nationalism led the US grossly to underestimate the power of nationalist sentiment in Russia, China and Iran, and contributed to the US attempt to use "democratisation" as a means to overthrow their regimes. All that this has succeeded in doing is to help the regimes concerned turn nationalist sentiment against local liberals, by accusing them of being US stooges.

"A stable and healthy polity and economy must be based on some minimal moral values"

Russian liberals in the 1990s were mostly not really US agents as such, but the collapse of Communism led some to a blind adulation of everything western and to identify unconditionally with US policies. In terms of public image, this made them look like western lackeys; in terms of policy, it led to the adoption of the economic "shock therapy" policies advocated by the west. Combined with monstrous corruption and the horribly disruptive collapse of the Soviet single market, this had a shattering effect on Russian industry and the living standards of ordinary Russians.

Many liberals gave the impression of complete indifference to the resulting immiseration of the Russian population in these years. At a meeting of the Carnegie Endowment in Washington that I attended later, former Prime Minister Yegor Gaidar boasted to an applauding US audience of how he had destroyed the Russian military industrial complex. The fact that this also destroyed the livelihoods of tens of millions of Russians and Ukrainians was not mentioned.

This attitude was fed by contempt on the part of the educated classes of Moscow and St Petersburg for ordinary Russians, who were dubbed Homo Sovieticus and treated as an inferior species whose loathsome culture was preventing the liberal elites from taking their rightful place among the "civilised" nations of the west. This frame of mind was reminiscent of the traditional attitude of white elites in Latin America towards the Indio and Mestizo majorities in their countries.

I vividly remember one Russian liberal journalist state his desire to fire machine guns into crowds of elderly Russians who joined Communist demonstrations to protest about the collapse of their pensions. The response of the western journalists present was that this was perhaps a little bit excessive, but to be excused since the basic sentiment was correct.

The Russian liberals of the 1990s were crazy to reveal this contempt to the people whose votes they needed to win. So too was Hillary Clinton, with her disdain for the "basket of deplorables" in the 2016 election, much of the Remain camp in the years leading up to Brexit, and indeed the European elites in the way they rammed through the Maastricht Treaty and the euro in the 1990s.

If the post-Cold War world order was a form of US imperialism, it now looks like an empire in which rot in the over-extended periphery has spread to the core. The economic and social patterns of 1990s Russia and Ukraine have come back to haunt the west, though so far thank God in milder form. The massive looting of Russian state property and the systematic evasion of taxes by Russian and Ukrainian oligarchs was only possible with the help of western banks, which transferred the proceeds to the west and the Caribbean. This crime was euphemised in the western discourse (naturally including the Economist ) as "capital flight."

Peter Mandelson qualified his famous remark that the Blair government was "intensely relaxed about people becoming filthy rich" with the words "as long as they pay their taxes." The whole point, however, about the filthy Russian, Ukrainian, Nigerian, Pakistani and other money that flowed to and through London was not just that so much of it was stolen, but that it was escaping taxation, thereby harming the populations at home twice over. The infamous euphemism "light-touch regulation" was in effect a charter
for this.

In a bitter form of poetic justice, however, "light-touch regulation" paved the way for the 2008 economic crisis in the west itself, and western economic elites too (especially in the US) would also seize this opportunity to move their money into tax havens. This has done serious damage to state revenues, and to the fundamental faith of ordinary people in the west that the rich are truly subject to the same laws as them.

The indifference of Russian elites to the suffering of the Russian population has found a milder echo in the neglect of former industrial regions across Britain, Western Europe and the US that did so much to produce the votes for Brexit, for Trump and for populist nationalist parties in Europe. The catastrophic plunge in Russian male life expectancy in the 1990s has found its echo in the unprecedented decline in white working-class male life expectancy in the US.

Perhaps the greatest lesson of the period after the last Cold War is that in the end, a stable and healthy polity and economy must be based on some minimal moral values. To say this to western economists, businessmen and financial journalists in the 1990s was to receive the kindly contempt usually accorded to religious cranks. The only value recognised was shareholder value, a currency in which the crimes of the Russian oligarchs could be excused because their stolen companies had "added value." Any concern about duty to the Russian people as a whole, or the fact that tolerance of these crimes would make it grotesque to demand honesty of policemen or civil servants, were dismissed as irrelevant sentimentality.

Bringing it all back home

We in the west are living with the consequences of a generation of such attitudes. Western financial elites have mostly not engaged in outright illegality; but then again, they usually haven't needed to, since governments have made it easy for them to abide by the letter of the law while tearing its spirit to pieces. We are belatedly recognising that, as Franklin Foer wrote in the Atlantic last year: "New York, Los Angeles and Miami have joined London as the world's most desired destinations for laundered money. This boom has enriched the American elites who have enabled it -- and it has degraded the nation's political and social mores in the process. While everyone else was heralding an emergent globalist world that would take on the best values of America, [Richard] Palmer [a former CIA station chief in Moscow] had glimpsed the dire risk of the opposite: that the values of the kleptocrats would become America's own. This grim vision is now nearing fruition."

Those analysing the connection between Russia and Trump's administration have looked in the wrong place. The explanation of Trump's success is not that Putin somehow mesmerised American voters in 2016. It is that populations abandoned by their elites are liable to extreme political responses; and that societies whose economic elites have turned ethics into a joke should not be surprised if their political leaders too become scoundrels.

About this author Anatol Lieven Anatol Lieven is a professor at Georgetown University in Qatar and the author among other books of America Right or Wrong: An Anatomy of American Nationalism and (with John Hulsman), Ethical Realism: A Vision for America's Role in the World More by this author More by Anatol Lieven Will Qatar be reduced to a Saudi client state? July 18, 2017 Why the left needs nationalism January 3, 2017 Pakistan has survived -- now can it prosper?

[Sep 21, 2020] Is America heading for a race war- Unless Democrats stop protecting criminals, it is inevitable by Robert Bridge

Sep 21, 2020 | www.rt.com

Robert Bridge is an American writer and journalist. He is the author of 'Midnight in the American Empire,' How Corporations and Their Political Servants are Destroying the American Dream. @Robert_Bridge 12 Sep, 2020 21:59 Get short URL © AFP /

Is the US really a land teeming with 'white supremacists', or are malicious forces working to crowbar the racial divide for their own ulterior motives? Whatever the case, America needs to get a handle on the issue, and fast.

Watching the video of George Floyd dying on the street under the knee of Derek Chauvin, a white police officer, forced many people to ask themselves: is this yet another case of police brutality that has become so prevalent on the streets of America, or is it symptomatic of something even worse? Without any debate, the mainstream media had a ready-made answer for mass consumption: America is racist to the core and deserves whatever it gets. It was a simplistic, knee-jerk response at a time when America was already suffering under a lockdown due to a pandemic.

Before continuing, it is necessary to ask: does America really suffer from 'systemic racism', also known as institutional racism? As a white American who grew up in a multiethnic neighborhood and was later employed at several racially diverse workplaces, I would have to disagree. While the proverbial 'melting pot' still has some cooking to do, relations between black and white people have been stable for many years.

While the nation will never remove the scar of slavery, the creation of a welfare state, together with numerous government programs such as Affirmative Action, was designed to end the discrimination of minorities. And as every American will say, the United States is a 'nation of immigrants', an idea reinforced by the passage of the Immigration and Nationality Act of 1965, for example, which opened the door to millions of people of non-European descent. Those sorts of initiatives indicate that Americans are not the hooded pack of white supremacists that many now say they are. This does not mean, of course, that the scourge of racism has been stamped out; there is no shortage of racists and bigots in the US, but to call the problem 'systemic' seems overblown.

ALSO ON RT.COM Beset by rioters & criminals & ruled by shady oligarchs, here are 6 reasons why my beloved USA is becoming a banana republic

At the same time, however, it cannot be denied that we are now living in radical 'woke' times, an entirely new animal. Thus, instead of responding to the outbreaks of violence in the wake of police killings with a unifying message of calm and civility, many politicians, in an effort to appease the angry social justice warriors that keep them in office, are stoking the fires of racial dissent with their rhetoric. You don't have to read between the lines to understand their message – just listen to Kamala Harris, the Democratic nominee for the vice presidency.

" Everyone beware, " Harris remarked in a recent interview with Stephen Colbert. " They [the protesters] are not going to stop before election day in November, and they're not going to stop after election day They're not going to let up, and they should not, and we should not. "

It would be difficult to cite a more irresponsible comment from any individual, and especially one who has a high chance of becoming – considering Joe Biden's advanced age – the first female president of the United States. This strange new willingness for Democratic leaders to court the mob reared its ugly head again this week, when Portland Mayor Ted Wheeler banned police from using tear gas to quell riots that have plagued the city for more than three months. Mind you, this is the very same mayor who was forced to vacate his condominium last week after rioters set fire to the building.

ALSO ON RT.COM 'Placating the mob'?: Portland mayor BANS police from using tear gas at riots after fleeing violence at his own condo

Meanwhile, behind the scenes, a number of influential individuals have declared their support for Black Lives Matter and Antifa. Few would be surprised to know that the financier George Soros, for example, donated almost a quarter of a billion dollars to several racial justice groups, including BLM. He was motivated by " systemic discrimination against blacks that can be traced back to slavery. "

On the other end of the spectrum, Ben & Jerry's Ice Cream, owned by the global Unilever Company, announced it was launching a podcast that prompts listeners to " dismantle systemic racism " and white supremacy. Shouldn't Americans be entitled to a national conversation on the question of 'systemic racism' first, before an ice cream company (ice cream!) practically declares it a full-blown fascist regime? After all, the 'race problem' could be a symptom of the deplorable state of the police forces, which are, arguably, both overworked and undertrained to handle their assigned tasks. The theory at least deserves much greater attention, but that would deprive the left of an opportunity to appear holier-than-thou in the most consequential presidential election in many decades.

In any case, it doesn't take a rocket scientist to understand that if these protest groups – which, incidentally, have a large number of misguided white youths among their ranks – believe they can act with impunity, while also receiving massive injections of cash and ideological support, things are going to spiral out of control real fast.

Just this week, BLM protesters descended upon my hometown of Pittsburgh, where they harassed a group of diners enjoying the afternoon on a café patio. One of the female activists somehow thought it would be a great idea to gulp down one of the beverages on a table where an elderly couple was seated. Earlier, across the country in Portland, Oregon, BLM showed up in the middle of the night to inform 'privileged' suburban residents – not all of them white, by the way – that they were living on "occupied" land. If BLM really wants sympathy for its cause, those methods are certainly not the way to get it. In fact, they could trigger an ugly backlash, igniting the very racism that the group declares itself to be fighting in the first place.

On that note, more white citizens are coming around to the conclusion that they are the ones being subjected to a 'reverse' form of racism – or, at the very least, are not permitted to defend themselves from physical harm. That appeared to be the lesson for many after Mark and Patricia McCloskey, two lawyers from an upscale neighborhood in St. Louis, brandished firearms after protesters smashed through a gate and trespassed onto their property. Guess who was charged with a crime? Not the protesters. St. Louis Circuit Attorney Kim Gardner, who received funds for her campaign from none other than Mr. Soros, filed a felony count against the McCloskeys for unlawful use of a weapon.

ALSO ON RT.COM Conspiracy FACT: Soros-funded prosecutors let rioters go but declare not agreeing with Black Lives Matter to be a 'hate crime'

Overnight, it appears that Americans have awakened to a nightmare world turned upside down, where all of the old rules of law and order have been thrown out the window. It's a place where political leaders no longer allow the police to perform their duties; citizens are condemned as criminals for protecting themselves, and all the while, "fiery yet mostly peaceful protests" are permitted to rage. Before the situation hits the point of no return, America really needs to have a calm discussion about 'systemic racism' to determine if it even exists in the first place. In the meantime, find a way to maintain law and order on the streets and, most importantly, trust the police; the majority are not bad apples. America's future peace and prosperity depends on it.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

[Sep 21, 2020] Tucker: Democrats, fires and the climate misinformation campaign

Highly recommended!
Nice take on imbecilization of important and complex topics by the US MSM and politicians.
Money quote about neoliberal Dems like Obama and Biden " But there are others for whom altruism is an alien concept. Self-interest is all they know. These people never pause. They relentlessly press for any advantage, under any circumstances. They see human suffering as a means to increase their power."
Another money quote: "in the hands of Democratic politicians, climate change is like systemic racism in the sky: You can't see it, but it's everywhere and it's deadly."
Notable quotes:
"... But there are others for whom altruism is an alien concept. Self-interest is all they know. These people never pause. They relentlessly press for any advantage, under any circumstances. They see human suffering as a means to increase their power. ..."
"... Joe Biden's closest friend in the world, a prominent Martha's Vineyard kite-surfer called Barack Obama, echoed that message with his trademark restraint. Obama declawed that your "life" depends on voting for Joe Biden. ..."
"... One of the few Republicans who still hold elected office in California, state Assemblyman Heath Flora, last year called on using the state's $22 billion budget surplus to implement vegetation management. ..."
"... Fires don't spread as well without huge connected forests functioning as kindling. It's obvious, which is why it's unthinkable to mention it in some Democratic circles." ..."
Sep 11, 2020 | www.youtube.com

September 11. 2020

TUCKER CARLSON, FOX NEWS: Massive wildfires continue to sweep across huge portions of the Pacific Northwest.

In Oregon, half a million residents have been forced to evacuate -- one out of every ten people in the state.

Dozens are dead tonight, including small children. But the fires still aren't close to contained. Watch this report from Fox's Jeff Paul:

Video report

And it continues as we speak, walls of flame consuming everything in their path: homes, animals, human beings. Tragedy on a massive scale.

When something this awful happens, decent people pause. They put aside their own interests for a moment. They consider how they can help. We've seen that kind of selflessness before.

This is, remember, the anniversary of 9-11. But there are others for whom altruism is an alien concept. Self-interest is all they know. These people never pause. They relentlessly press for any advantage, under any circumstances. They see human suffering as a means to increase their power.

These are the people who turn funerals into political rallies and feel no shame for doing it.

As Americans burned to death, people like this swung into action immediately. They went on television with a partisan talking point: Climate change caused these fires, they said. They didn't explain how that happened. They just kept saying it.

In the hands of Democratic politicians, climate change is like systemic racism in the sky: you can't see it, but it's everywhere, and it's deadly. And, like systemic racism, it's your fault: The American middle class did it. They ate too many hamburgers, drove too many SUVs, had too many children.

A lot of them wear T-shirts to work and didn't finish college. That causes climate change too. And, worst of all, some of them may vote for Donald Trump in November.

If there's anything that absolutely, definitively causes climate change -- and literally over a hundred percent of scientists agree with this established fact -- it's voting for Donald Trump. You might as well start a tire fire. You're destroying the ozone layer.

Joe Biden has checked the science, and he agrees. Yesterday, the people on Biden's staff who understand the internet tweeted out an image of the wildfires, along with the message, "Climate change is already here -- and we're witnessing its devastating effects every single day. We have to get President Trump out of the White House."

Again, by voting for Donald Trump, you've made hundreds of thousands of Oregonians homeless tonight. You've killed people.

Joe Biden's closest friend in the world, a prominent Martha's Vineyard kite-surfer called Barack Obama, echoed that message with his trademark restraint. Obama declawed that your "life" depends on voting for Joe Biden.

Hold on a minute, you might say. Doesn't this very same Barack Obama own a $12 million spread right on the ocean in Massachusetts?

At a time when sea levels are rising and we're about to see killer whales in the Rockies? Honestly, it doesn't seem like Obama is overly concerned about climate change? And by the way, didn't he go to law school? When he did become a climate expert?

Those seem like good questions. But lawyers pretending to be scientists are now everywhere in the Democratic Party.

Here's the governor of Washington, Jay Inslee, a proud graduate of Willamette University law school, explaining that he's already figured out the "cause" of the fires. Watch:

INSLEE: Fires are proof we need a stronger liberal agenda Sept 8 TRT: 18 Inslee: And these are conditions that are exacerbated by the changing climate that we are suffering. And I do not believe that we should surrender these subdivisions or these houses to climate change-exacerbated fires. We should fight the cause of these fires.

This is a crock. In fact, there is not a single scientist on earth who knows whether, or by how much, these fires may have been "exacerbated" by warmer temperatures caused by "climate change," whatever that means anymore.

All we have is conjecture from a handful of scientists, none of whom have reached any definitive conclusions.

Daniel Swain, a climate scientist at UCLA, for example, has admitted that it's, quote, "hard to determine whether climate change played a role in sparking the fires."

Meanwhile, investigators have determined that the massive El Dorado fire in California, which has torched nearly 14,000 acres, was caused by morons setting off some kind of fireworks. And then on Wednesday, police announced that a criminal investigation is underway into the massive Almeda fire in Ashland, Oregon.

The sheriff there said it's too early to say what caused the fire, but he's said human remains were found at the suspected origin point. Nothing is being ruled out, including arson.

The more you know, the more complicated it is, like everything. Serious people are just beginning to gather evidence to determine what happened to cause this disaster.

But at the same time, unserious people are now everywhere on the media right now, drowning out nuance. Don't worry about the facts, they say. Just trust us -- the sky orange is orange over San Francisco because households making $40,000 a year made the mistake of voting for a Republican.

Therefore you must hand us total control of the nation's economy. Watch amateur arson detective Nancy Pelosi explain:

PELOSI: Mother Earth is angry. She's telling us, whether she's telling us with hurricanes on the Gulf Coast, fires in the west, whatever it is, the climate crisis is real and has an impact.

Mother Nature is angry. Please. When was the last time Nancy Pelosi went outside? No one asked her. All we know is what she said: climate change caused this. Of course.

No matter the natural disaster -- hurricanes, tornadoes, whatever -- climate change did it. Keep in mind, Nancy Pelosi owns two sub-zero freezers. They cost $10,000 apiece.

We know because she showed them off on national television. Those use a lot of energy. Like Barack Obama, she constantly flies private between her multi-million dollar estates all over the country.

Obviously, she doesn't care about climate change. And neither do her supporters -- otherwise, they'd be trying to destroy the mansions she owns, not the hair salons that expose her hypocrisy.

For the left, this is really about blaming and ritually humiliating the middle-class for the election of Donald Trump. Joe Biden knows that the Pennsylvanians who would be financially ruined by his fracking ban are the same Pennsylvanians who flipped the state red in 2016 for the first time in a generation.

That's the whole point. One of the reasons Joe Biden is barely allowed outside is that he has no problem showing his contempt for the middle-class he supposedly cares so much about.

In 2019, he openly mocked coal miners and suggested they just get programming jobs once they're all fired. Watch:

BIDEN: I come from a family, an area where's coal mining – in Scranton. Anybody, that can go down 300 to 3,000 feet in a mine, sure as hell can learn how to program as well.

Learn to code! Hilarious. Joe Biden should try it. But there isn't time. The world is ending. Last summer, Sandy Cortez [AOC] did the math and calculated we only have 12 years left to live .

If that sounds bad, consider this -- Just four months after that warning, Sandy Cortez tweeted that we only have 10 years to "cut carbon emissions in half."

Think about the math here. We lost two years in just four months. At that rate, we could literally all die unless Joe Biden wins in November. Which is of course what they're saying.

On Tuesday, California Gavin Newsom pretty much said it Newsom abandoned science long ago. Science is too stringent, too western, too patriarchal.

Newsom is a man of faith now. He's decided climate change caused all of this , and that's final. He's not listening to any other arguments. Watch:

NEWSOM: I have no patience. And I say this lovingly, not as an ideologue, but as someone who prides himself on being open to argument, interested in evidence. But I quite literally have no patience for climate change deniers. It simply follows completely inconsistent, that point of view, with the reality on the ground.

People like Gavin Newsom don't want to listen to any "climate change deniers." What's a "climate change denier?" Anyone who thinks our ruling class has no idea how to run their states or protect their citizens.

Are we "climate change deniers" if we point out that California has failed to implement meaningful deforestation measures that would have dramatically slowed the spread of these wildfires?

In 2018, a state oversight agency in California found that years of poor or nonexistent forest management policies in the Sierra Nevada forests had contributed to wildfires.

One of the few Republicans who still hold elected office in California, state Assemblyman Heath Flora, last year called on using the state's $22 billion budget surplus to implement vegetation management.

Fires don't spread as well without huge connected forests functioning as kindling. It's obvious, which is why it's unthinkable to mention it in some Democratic circles."

Presumably, you're also a climate-change denier if you point out that six of the Oregon National Guard's wildfire-fighting helicopters are currently in Afghanistan.

Instead of dropping water to suppress blazes, the Chinook aircraft are busy supplying a war effort that's been going on for nearly 20 years. That seems significant. Has anyone asked Gavin Newsom or Jay Inslee about that? Do any of the Democrats who control these states even care?

The answer, of course, is probably not. It was just last week that Los Angeles mayor Eric Garcetti admitted on-the-record that his city has become completely third-world.

Of course, Garcetti didn't blame himself for this turn of events. He blamed you. Quote: "It's almost 3 p.m," Garcetti tweeted. "Time to turn off major appliances, set the thermostat to 78 degrees (or use a fan instead, turn off excess lights and unplug any appliances you're not using. We need every Californian to help conserve energy. Please do your part."

"Please do your part." Garcetti wants his constituents to suffer to try to solve a problem that Democrats in his state created. Even now, as residents in Northern California are facing sweeping power outages in addition to wildfires.

In the meantime, Gavin Newsom has vowed that 50 percent of California's energy grid will be based on quote "renewable" energy sources within a decade.

That means sources like wind and solar power -- which can't be dialed up to meet periods of extreme demand, like California is seeing right now during its heatwave.

Newsom was asked last month whether he would consider revising this stance given the blackouts that have left millions of Californians without power.

Newsom responded, quote, "We are going to radically change the way we produce and consume energy." In other words, The blackouts will continue until morale improves. So will the wildfires. Get used to it.


Fox News
6.2M subscribers SUBSCRIBE In the hands of Democratic politicians, climate change is like systemic racism in the sky: You can't see it, but it's everywhere and it's deadly. #FoxNews #Tucker


tintin3366
, 1 week ago

The fires we had here in Australia were lit by humans. They tried to say it was climate change.


Jadyyn Starlight
, 1 week ago

I think "Climate change" is exacerbated by the hot air coming out of these politicians

MAGA COUNTRY , 1 week ago (edited)

This is a direct result of Gavin Newsom eliminating forestation controls. Jerry Brown kept them in place, the only thing he did correctly. Democrats are to blame for all of this.


stelpa66
, 1 day ago

When environmentalists pushed through their "leave forests alone, allow nature to be undisturbed" bs, California and other states stopped clearing underbrush, also known as fire fuel and now we see a perfect example of cause and effect.

Don't get me wrong I am a conservatist , but with common sense , we can't conserve unless we protect and nurture nature to thrive. In fact extremism in environmentalism destroys as we see. People dead, animals dead, homes destroyed, forest destroyed because of extremism.

The narrative to leave forests alone happened long before Trump, believing otherwise makes you a useful idiot. Congratulations.

You could Google this old narrative but will you find it, well it's Google, you have to find the people who heard and lived the so called natural environmental push narrative, we remember and we remember the warnings. Congratulations, your ignorance has caused harm.

Quinten Belfor , 1 week ago (edited)

They were caused by "peaceful" arsonists


Lori Taylor
, 2 days ago

Tucker most always speaks the truth. I say "most" bc no one is perfect 😉 Everything he said here was the truth! Thank you Tucker!! 👏🏼

[Sep 20, 2020] The Criminal Prosecution Of Boeing Executives Should Begin

Sep 20, 2020 | www.zerohedge.com

play_arrow


jayman21 , 2 hours ago

The invisible hand will do its job.

WedgeMan , 1 hour ago

Afraid not, it is too busy giving hand jobs.

Zero-Hegemon , 34 minutes ago

Invisible Hand jobs?

[Sep 19, 2020] How Silicon Valley Broke the Economy by Adrian Chen

The review of the book
Oct 14, 2019 | www.thenation.com

THE CODE: SILICON VALLEY AND THE REMAKING OF AMERICA By Margaret O'Mara

Buy this book

The Apple Bill passed the House overwhelmingly but then died in the Senate after a bureaucratic snafu for which Jobs forever blamed Republican Senator Bob Dole of Kansas, then chair of the Finance Committee. Yet all was not lost: A similar bill passed in California, and Apple flooded its home state with almost 10,000 computers. Apple's success in California gave it a leg up in the lucrative education market as states around the country began to computerize their classrooms. But education was not radically transformed, unless you count a spike in The Oregon Trail –related deaths from dysentery. If anything, those who have studied the rapid introduction of computers into classrooms in the 1980s and '90s tend to conclude that it exacerbated inequities. Elite students and schools zoomed smoothly into cyberspace, while poorer schools fell further behind, bogged down by a lack of training and resources.

A young, charismatic geek hawks his wares using bold promises of social progress but actually makes things worse and gets extremely rich in the process -- today it is easy to see the story of the Apple Bill as a stand-in for the history of the digital revolution as a whole. The growing concern about the role that technology plays in our lives and society is fueled in no small part by a growing realization that we have been duped. We were told that computerizing everything would lead to greater prosperity, personal empowerment, collective understanding, even the ability to transcend the limits of the physical realm and create a big, beautiful global brain made out of electrons. Instead, our extreme dependence on technology seems to have mainly enriched and empowered a handful of tech companies at the expense of everyone else. The panic over Facebook's impact on democracy sparked by Donald Trump's election in a haze of fake news and Russian bots felt like the national version of the personal anxiety that seizes many of us when we find ourselves snapping away from our phone for what seems like the 1,000th time in an hour and contemplating how our lives are being stolen by a screen. We are stuck in a really bad system.

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This realization has led to a justifiable anger and derision aimed at the architects of this system. Silicon Valley executives and engineers are taken to task every week in the op-ed pages of our largest newspapers. We are told that their irresponsibility and greed have undermined our freedom and degraded our democratic institutions. While it is gratifying to see tech billionaires get a (very small) portion of their comeuppance, we often forget that until very recently, Silicon Valley was hailed by almost everyone as creating the path toward a brilliant future. Perhaps we should pause and contemplate how this situation came to be, lest we make the same mistakes again. The story of how Silicon Valley ended up at the center of the American dream in the late 20th and early 21st centuries, as well as the ambiguous reality behind its own techno-​utopian dreams, is the subject of Margaret O'Mara's sweeping new history, The Code: Silicon Valley and the Remaking of America . In it, she puts Silicon Valley into the context of a larger story about postwar America's economic and social transformations, highlighting its connections with the mainstream rather than the cultural quirks and business practices that set it apart. The Code urges us to consider Silicon Valley's shortcomings as America's shortcomings, even if it fails to interrogate them as deeply as our current crisis -- and the role that technology played in bringing it about -- seems to warrant.

S ilicon Valley entered the public consciousness in the 1970s as something of a charmed place. The first recorded mention of Silicon Valley was in a 1971 article by a writer for a technology newspaper reporting on the region's semiconductor industry, which was booming despite the economic doldrums that had descended on most of the country. As the Rust Belt foundered and Detroit crumbled, Silicon Valley soared to heights barely conveyed by the metrics that O'Mara rattles off in the opening pages of The Code : "Three billion smartphones. Two billion social media users. Two trillion-dollar companies" and "the richest people in the history of humanity." Many people have attempted to divine the secret of Silicon Valley's success. The consensus became that the Valley had pioneered a form of quicksilver entrepreneurialism perfectly suited to the Information Age. It was fast, flexible, meritocratic, and open to new ways of doing things. It allowed brilliant young people to turn crazy ideas into world-changing companies practically overnight. Silicon Valley came to represent the innovative power of capitalism freed from the clutches of uptight men in midcentury business suits, bestowed upon the masses by a new, appealing folk hero: the cherub-faced start-up founder hacking away in his dorm room.

The Code both bolsters and revises this story. On the one hand, O'Mara, a historian at the University of Washington, is clearly enamored with tales of entrepreneurial derring-do. From the "traitorous eight" who broke dramatically from the Shockley Semiconductor Laboratory in 1957 to start Fairchild Semiconductor and create the modern silicon transistor to the well-documented story of Facebook's founding, the major milestones of Silicon Valley history are told in heroic terms that can seem gratingly out of touch, given what we know about how it all turned out. In her portrayal of Silicon Valley's tech titans, O'Mara emphasizes virtuous qualities like determination, ingenuity, and humanistic concern, while hints of darker motives are studiously ignored. We learn that a "visionary and relentless" Jeff Bezos continued to drive a beat-up Honda Accord even as he became a billionaire, but his reported remark to an Amazon sales team that they ought to treat small publishers the way a lion treats a sickly gazelle is apparently not deemed worthy of the historical record. But at the same time, O'Mara helps us understand why Silicon Valley's economic dominance can't be chalked up solely to the grit and smarts of entrepreneurs battling it out in the free market. At every stage of its development, she shows how the booming tech industry was aided and abetted by a wide swath of American society both inside and outside the Valley. Marketing gurus shaped the tech companies' images, educators evangelized for technology in schools, best-selling futurists preached personalized tech as a means toward personal liberation. What emerges in The Code is less the story of a tribe of misfits working against the grain than the simultaneous alignment of the country's political, cultural, and technical elites around the view that Silicon Valley held the key to the future.

Above all, O'Mara highlights the profound role that the US government played in Silicon Valley's rise. At the end of World War II, the region was still the sleepy, sun-drenched Santa Clara Valley, home to farms and orchards, an upstart Stanford University, and a scattering of small electronics and aerospace firms. Then came the space and arms races, given new urgency in 1957 with the launch of Sputnik, which suggested a serious Soviet advantage. Millions of dollars in government funding flooded technology companies and universities around the country. An outsize portion went to Northern California's burgeoning tech industry, thanks in large part to Stanford's far-sighted provost Frederick Terman, who reshaped the university into a hub for engineering and the applied sciences.

Stanford and the surrounding area became a hive of government R&D during these years, as IBM and Lockheed Martin opened local outposts and the first native start-ups hit the ground. While these early companies relied on what O'Mara calls the Valley's "ecosystem" of fresh-faced engineers seeking freedom and sunshine in California, venture capitalists sniffing out a profitable new industry, and lawyers, construction companies, and real estate agents jumping to serve their somewhat quirky ways, she makes it clear that the lifeblood pumping through it all was government money. Fairchild Semiconductor's biggest clients for its new silicon chips were NASA, which put them in the Apollo rockets, and the Defense Department, which stuck them in Minuteman nuclear missiles. The brains of all of today's devices have their origin in the United States' drive to defeat the Soviet Union in the Cold War.

But the role of public funding in the creation of Silicon Valley is not the big government success story a good liberal might be tempted to consider it. As O'Mara points out, during the Cold War American leaders deliberately pushed public funds to private industry rather than government programs because they thought the market was the best way to spur technological progress while avoiding the specter of centralized planning, which had come to smack of communist tyranny. In the years that followed, this belief in the market as the means to achieve the goals of liberal democracy spread to nearly every aspect of life and society, from public education and health care to social justice, solidifying into the creed we now call neoliberalism. As the role of the state was eclipsed by the market, Silicon Valley -- full of brilliant entrepreneurs devising technologies that promised to revolutionize everything they touched -- was well positioned to step into the void.

The earliest start-up founders hardly seemed eager to assume the mantle of social visionary that their successors, today's flashy celebrity technologists, happily take up. They were buttoned-down engineers who reflected the cool practicality of their major government and corporate clients. As the 1960s wore on, they were increasingly out of touch. Amid the tumult of the civil rights movement and the protests against the Vietnam War, the major concern in Silicon Valley's manicured technology parks was a Johnson-era drop in military spending. The relatively few techies who were political at the time were conservative.

Things started to change in the 1970s. The '60s made a belated arrival in the Valley as a younger generation of geeks steeped in countercultural values began to apply them to the development of computer technology. The weight of Silicon Valley's culture shifted from the conservative suits to long-haired techno-utopians with dreams of radically reorganizing society through technology.

This shift was perhaps best embodied by Lee Felsenstein, a former self-described "child radical" who cut his teeth running communications operations for anti-war and civil rights protests before going on to develop the Tom Swift Terminal, one of the earliest personal computers.

Felsenstein believed that giving everyday people access to computers could liberate them from the crushing hierarchy of modern industrial society by breaking the monopoly on information held by corporations and government bureaucracies. "To change the rules, change the tools," he liked to say.

Whereas Silicon Valley had traditionally developed tools for the Man, these techies wanted to make tools to undermine him. They created a loose-knit network of hobbyist groups, drop-in computer centers, and DIY publications to share knowledge and work toward the ideal of personal liberation through technology. Their dreams seemed increasingly achievable as computers shrank from massive, room-filling mainframes to the smaller-room-filling minicomputers to, finally, in 1975, the first commercially viable personal computer, the Altair.

Yet as O'Mara shows, the techno-utopians did not ultimately constitute such a radical break from the past. While their calls to democratize computing may have echoed Marxist cries to seize the means of production, most were capitalists at heart. To advance the personal computer "revolution," they founded start-ups, trade magazines, and business forums, relying on funding from venture capital funds often with roots in the old money elite. Jobs became the most celebrated entrepreneur of the era by embodying the discordant figures of both the cowboy capitalist and the touchy-feely hippie, an image crafted in large part by the marketing guru Regis McKenna. Silicon Valley soon became an industry that looked a lot like those that had come before. It was nearly as white and male as they were. Its engineers worked soul-crushing hours and blew off steam with boozy pool parties. And its most successful company, Microsoft, clawed its way to the top through ruthless monopolistic tactics.

Perhaps the strongest case against the supposed subversiveness of the personal computer pioneers is how quickly they were embraced by those in power. As profits rose and spectacular IPOs seized headlines throughout the 1980s, Silicon Valley was championed by the rising stars of supply-side economics, who hitched their drive for tax cuts and deregulation to tech's venture-capital-fueled rocket ship. The groundwork was laid in 1978, when the Valley's venture capitalists formed an alliance with the Republicans to kill then-President Jimmy Carter's proposed increase in the capital gains tax. They beta-​tested Reaganomics by advancing the dubious argument that millionaires' making slightly less money on their investments might stifle technological innovation by limiting the supply of capital available to start-ups. And they carried the day.

As president, Ronald Reagan doubled down with tax cuts and wild technophilia. In a truly trippy speech to students at Moscow State University in 1988, he hailed the transcendent possibilities of the new economy epitomized by Silicon Valley, predicting a future in which "human innovation increasingly makes physical resources obsolete." Meanwhile, the market-friendly New Democrats embraced the tech industry so enthusiastically that they became known, to their chagrin, as Atari Democrats. The media turned Silicon Valley entrepreneurs into international celebrities with flattering profiles and cover stories -- living proof that the mix of technological innovation, risk taking, corporate social responsibility, and lack of regulation that defined Silicon Valley in the popular imagination was the template for unending growth and prosperity, even in an era of deindustrialization and globalization.

T he near-universal celebration of Silicon Valley as an avatar of free-market capitalism in the 1980s helped ensure that the market would guide the Internet's development in the 1990s, as it became the cutting-edge technology that promised to change everything. The Internet began as an academic resource, first as ARPANET, funded and overseen by the Department of Defense, and later as the National Science Foundation's NSFNET. And while Al Gore didn't invent the Internet, he did spearhead the push to privatize it: As the Clinton administration's "technology czar," he helped develop its landmark National Information Infrastructure (NII) plan, which emphasized the role of private industry and the importance of telecommunications deregulation in constructing America's "information superhighway." Not surprisingly, Gore would later do a little-known turn as a venture capitalist with the prestigious Valley firm Kleiner Perkins, becoming very wealthy in the process. In response to his NII plan, the advocacy group Computer Professionals for Social Responsibility warned of a possible corporate takeover of the Internet. "An imaginative view of the risks of an NII designed without sufficient attention to public-interest needs can be found in the modern genre of dystopian fiction known as 'cyberpunk,'" they wrote. "Cyberpunk novelists depict a world in which a handful of multinational corporations have seized control, not only of the physical world, but of the virtual world of cyberspace." Who can deny that today's commercial Internet has largely fulfilled this cyberpunk nightmare? Someone should ask Gore what he thinks.

Despite offering evidence to the contrary, O'Mara narrates her tale of Silicon Valley's rise as, ultimately, a success story. At the end of the book, we see it as the envy of other states around the country and other countries around the world, an "exuberantly capitalist, slightly anarchic tech ecosystem that had evolved over several generations." Throughout the book, she highlights the many issues that have sparked increasing public consternation with Big Tech of late, from its lack of diversity to its stupendous concentration of wealth, but these are framed in the end as unfortunate side effects of the headlong rush to create a new and brilliant future. She hardly mentions the revelations by the National Security Agency whistle-blower Edward Snowden of the US government's chilling capacity to siphon users' most intimate information from Silicon Valley's platforms and the voraciousness with which it has done so. Nor does she grapple with Uber, which built its multibillion-dollar leviathan on the backs of meagerly paid drivers. The fact that in order to carry out almost anything online we must subject ourselves to a hypercommodified hellscape of targeted advertising and algorithmic sorting does not appear to be a huge cause for concern. But these and many other aspects of our digital landscape have made me wonder if a technical complex born out of Cold War militarism and mainstreamed in a free-market frenzy might not be fundamentally always at odds with human flourishing. O'Mara suggests at the end of her book that Silicon Valley's flaws might be redeemed by a new, more enlightened, and more diverse generation of techies. But haven't we heard this story before?

If there is a larger lesson to learn from The Code , it is that technology cannot be separated from the social and political contexts in which it is created. The major currents in society shape and guide the creation of a system that appears to spring from the minds of its inventors alone. Militarism and unbridled capitalism remain among the most powerful forces in the United States, and to my mind, there is no reason to believe that a new generation of techies might resist them any more effectively than the previous ones. The question of fixing Silicon Valley is inseparable from the question of fixing the system of postwar American capitalism, of which it is perhaps the purest expression. Some believe that the problems we see are bugs that might be fixed with a patch. Others think the code is so bad at its core that a radical rewrite is the only answer. Although The Code was written for people in the first group, it offers an important lesson for those of us in the second: Silicon Valley is as much a symptom as it is a cause of our current crisis. Resisting its bad influence on society will ultimately prove meaningless if we cannot also formulate a vision of a better world -- one with a more humane relationship to technology -- to counteract it. And, alas, there is no app for that.

Adrian Chen Adrian Chen is a freelance writer. He is working on a book about Internet culture.

[Sep 19, 2020] Technocracy support of BLM and riots

Technocracy is a part of the neoliberal elite and they are interested in continuation of globalization. As such they are fierce opponents of Trump "national neoliberalism" project. Nothing personal, strictly business.
Sep 19, 2020 | www.zerohedge.com

Doc McGee , 34 minutes ago

A list of some companies too stupid to care about truth or justice.

22 COMPANIES THAT SUPPORT #BLACKLIVESMATTER

[Sep 18, 2020] The New Year Gift, by Israel Shamir

Israel raises an important question about the role on neoliberal MSM is spreading COVID-19 panic.
Notable quotes:
"... Sinaisky claims that they brought the pandemics upon us because of the high debt problem, or by their inability to continue colonial plunder. Alternatively, a notable commenter to his text suggests that it was done because of overproduction of capital. In other words, the bank-lending rate is so close to zero, or even negative, that the whole machinery of capitalism was deluged in a flood of capital, and needed a major war, or indeed a global pandemic, to use it up. ..."
"... Because of this freak combination of forces, Sweden left its health policy in the hands of local professionals and remained free, while its neighbouring countries transferred the responsibility to globalist politicians and embraced quarantine. ..."
"... Thus the liberal Blairite media (beginning with the NY Times and the Guardian) played a key part in the Corona crisis. They were the piper; but who ordered the piper? ..."
Sep 18, 2020 | www.unz.com

...Do the US plutocrats (that is, the American über-wealthy) control all that? I think they would be amazed to learn that, especially "for generations", bearing in mind that the US was not a very significant factor before the WWI. In my view, the rich are not that smart. But the network exists; I have called its obscure controllers The Masters of Discourse .

Sinaisky claims that they brought the pandemics upon us because of the high debt problem, or by their inability to continue colonial plunder. Alternatively, a notable commenter to his text suggests that it was done because of overproduction of capital. In other words, the bank-lending rate is so close to zero, or even negative, that the whole machinery of capitalism was deluged in a flood of capital, and needed a major war, or indeed a global pandemic, to use it up.

Finally, Sinaisky claims that "atomization of society, breaking up community solidarity, eroding all non-monetary connections between people, destroying family relations and weakening blood ties, is a long-standing plutocratic project. Now, using this fake pandemic, the plutocrats have gone even further, now they train us to see each other not as friend, not as brother, not even as a source of profit, but mainly as a source of mortal infection." I wonder what makes him think that is an object of plutocratic desire? Certainly rich people want to make money and have more power, agreed. Is it necessary for them to atomise society? Who will they and their kids socialize with in such a ruined world?

I am not sure that there is a human agency with such goals. A non-human factor is a much more suitable culprit. In the old days, such a culprit was called Satan, and there were mighty organisations aka churches that fought Satan. In a charming movie, Luc Besson's Fifth Element, 'Love' defeats 'the Shadow', the personified evil that was about to obliterate Earth. Call it Satan, call it Shadow, the thing surely has human collaborationists in the mainstream media. I wrote about it in a piece called The Shadow of Zog . Indeed media should be sorted out in order to deal with it.

Sweden, this lucky country that avoided lockdown and its consequences, was saved by a rare media misstep. (This story has never been published though it is known to many Swedes.) Corona propaganda was carried out by the same liberal Bonnier-owned newspaper, DN (Dagens Nyheter), that played up Greta Thunberg. (Sinaisky's senses served him right: indeed Covid is a new Greta multiplied by a factor of 50). The Greta campaign had as its favourite high horse flygskam , or flight-shaming. Stop taking flights to lower carbon emissions , was the idea. Now we have no flights at all, so this movement disappeared after achieving its goals.

In February 2020, the DN organised a week-long sleeper train culture trip to North Italy for the Greta-following liberal elite. A berth on this train was priced starting at ten thousand Euros. The group went up to the Italian Alps and down to the Carnival in Venice and finally returned home, full to the brim with interesting experiences and coronavirus infections. A few days after the train returned to Stockholm, the disease broke out at large. Many of the liberal journalists that travelled on the Corona Express (as the train became known) fell sick, and their close relatives suffered, too. This incident caused the death of many elderly Jews, parents or uncles of those liberal journalists. It was a media phenomenon, and the Jewish media reported that the death rate among Swedish Jews was 14 times higher than their share of the population (well, it is not as bad as it sounds; only nine very old Jews died, all over 80).

As the people in authority knew all about the Corona Express, the liberal lobby was too ashamed to call for quarantine against the disease they has carried to Sweden. (Or they did call, but in sotto voce.) Furthermore, the DN was their only significant liberal media outlet, as Bonnier had sold his TV channel to a state-owned company in December 2019, making heaps of money but losing his ability to influence people.

Because of this freak combination of forces, Sweden left its health policy in the hands of local professionals and remained free, while its neighbouring countries transferred the responsibility to globalist politicians and embraced quarantine.

Thus the liberal Blairite media (beginning with the NY Times and the Guardian) played a key part in the Corona crisis. They were the piper; but who ordered the piper?

Israel Shamir can be reached at [email protected]

[Sep 14, 2020] While We're at It by R. R. Reno

Notable quotes:
"... On the strength of Adrian Vermeule's review last month (" Liturgy of Liberalism ," January 2017), I picked up Ryszard Legutko's The Demon in Democracy: Totalitarian Temptations in Free Societies . Legutko sees many parallels between the communism that dominated the Poland of his youth and the political-social outlook now treated as obligatory by Eurocrats and dominant in America, which he calls "[neo]liberal democracy." ..."
"... One parallel struck me as especially important: "Communism and [neo]liberal democracy are related by a similarly paradoxical approach to politics: both promised to reduce the role of politics in human life, yet induced politicization on a scale unknown in previous history." We're aware of the totalitarian dimension of communism. But liberalism? Isn't it supposed to be neutral with respect to substantive outlooks, endorsing only the constitutional and legal frameworks for free and fair political debate? Actually, no. Liberals always assert that liberalism is the view of politics, society, and morality "most adequate of and for modern times." ..."
"... [Neo]Liberalism, Legutko points out, is committed to dualism, not pluralism. He gives the example of Isaiah Berlin, who made a great deal out of the importance of the pluralism of the liberal spirit. Yet "Berlin himself, a superbly educated man, knew very well and admitted quite frankly that the most important and most valuable fruits of Western philosophy were monistic in nature." This means that liberalism, as Berlin defines it, must classify nearly the entire history of Western thought (and that of other cultures as well) as "nonliberal." Thus, "the effect of this supposed liberal pluralism" is not a welcoming, open society in which a wide range of substantive thought flourishes, but "a gigantic purge of Western philosophy, bringing an inevitable degradation of the human mind." ..."
"... The purge mentality has a political dimension. Since 1989, European politics has shifted away from a left vs. right framework toward "mainstream" vs. "extremist." This is a telling feature of [neo]liberal democracy as an ideology. "The tricky side of 'mainstream' politics is that it does not tolerate any political 'tributaries' and denies that they should have any legitimate existence. Those outside the mainstream are believed to be either mavericks and as such not deserving to be treated seriously, or fascists who should be politically eliminated." ..."
"... Lumpenproletariat ..."
"... Legutko speaks of "lumpenintellectuals." These are the professors and journalists who buttress the status quo by rehearsing ideological catechisms and exposing heretics. We certainly have a lumpenintelligentsia ..."
"... I regularly read two lumpenintellectuals in order to understand the orthodoxies of our political mainstream: Tom Friedman over at the New York Times and Bret Stephens at the Wall Street Journal . The former is a cheerleader for today's globalist orthodoxies, complete with ritual expressions of misgivings. The latter eagerly plays the role of Leninist enforcer of those orthodoxies ..."
"... Weekly Standard ..."
"... The Weekly Standard ..."
Sep 14, 2020 | www.firstthings.com

♦ Boys and girls are different. There, I've said it, a heresy of our time. We're not supposed to suggest that a woman shouldn't fight in combat, or that an athletic girl doesn't have a right to play on the boys' football team -- or that a young woman doesn't run a greater risk than a young man when binge drinking. We are not supposed to reject the conceit that the sexes are interchangeable, and therefore a man can become a "woman" and use the ladies' bathroom.

Male and female God created us. I commend this heresy to readers. Remind people that boys in girls' bathrooms put girls at risk, and that Obergefell is a grotesque distortion of the Constitution. True -- and don't miss the opportunity to say, in public, that men and women are different. This is the deepest reason why gender ideology is perverse. As Peter Hitchens observes in this issue (" The Fantasy of Addiction "), there's a great liberation that comes when, against the spirit of the age, one blurts out what one knows to be true.


♦ Great Britain recently announced regulatory approval for scientists to introduce third-party DNA into the reproductive process. The technological innovation that allows for interventions into the most fundamental dimensions of reproduction and human identity is sure to accelerate. Which is a good reason for incoming President Trump to revive the President's Council on Bioethics. (It existed under President Obama, but was told to do and say nothing.) We need sober reflection on the coming revolution in reproductive technology. Trump should appoint Princeton professor Robert P. George to head the Bioethics Commission. He has the expertise in legal and moral philosophy, and he knows what's at stake. (See " Gnostic Liberalism ," December 2016.)


On the strength of Adrian Vermeule's review last month (" Liturgy of Liberalism ," January 2017), I picked up Ryszard Legutko's The Demon in Democracy: Totalitarian Temptations in Free Societies . Legutko sees many parallels between the communism that dominated the Poland of his youth and the political-social outlook now treated as obligatory by Eurocrats and dominant in America, which he calls "[neo]liberal democracy."

One parallel struck me as especially important: "Communism and [neo]liberal democracy are related by a similarly paradoxical approach to politics: both promised to reduce the role of politics in human life, yet induced politicization on a scale unknown in previous history." We're aware of the totalitarian dimension of communism. But liberalism? Isn't it supposed to be neutral with respect to substantive outlooks, endorsing only the constitutional and legal frameworks for free and fair political debate? Actually, no. Liberals always assert that liberalism is the view of politics, society, and morality "most adequate of and for modern times."

This gives [neo]liberalism a partisan spirit all the more powerful because it is denied.

Although such words as "dialogue" and "pluralism" appear among its favorite motifs, as do "tolerance" and other similarly hospitable notions, this overtly generous rhetorical orchestration covers up something entirely different. In its essence, liberalism is unabashedly aggressive because it is determined to hunt down all nonliberal agents and ideas, which it treats as a threat to itself and to humanity.

[Neo]Liberalism, Legutko points out, is committed to dualism, not pluralism. He gives the example of Isaiah Berlin, who made a great deal out of the importance of the pluralism of the liberal spirit. Yet "Berlin himself, a superbly educated man, knew very well and admitted quite frankly that the most important and most valuable fruits of Western philosophy were monistic in nature." This means that liberalism, as Berlin defines it, must classify nearly the entire history of Western thought (and that of other cultures as well) as "nonliberal." Thus, "the effect of this supposed liberal pluralism" is not a welcoming, open society in which a wide range of substantive thought flourishes, but "a gigantic purge of Western philosophy, bringing an inevitable degradation of the human mind."


The purge mentality has a political dimension. Since 1989, European politics has shifted away from a left vs. right framework toward "mainstream" vs. "extremist." This is a telling feature of [neo]liberal democracy as an ideology. "The tricky side of 'mainstream' politics is that it does not tolerate any political 'tributaries' and denies that they should have any legitimate existence. Those outside the mainstream are believed to be either mavericks and as such not deserving to be treated seriously, or fascists who should be politically eliminated."


♦ Karl Marx coined the term Lumpenproletariat . Lumpen means "rag" in German, and its colloquial meanings include someone who is down-and-out. According to Marx, this underclass has counter-revolutionary tendencies. These people can be riled up by demagogues and deployed in street gangs to stymie the efforts of the true proletariat to topple the dominant class.

Legutko speaks of "lumpenintellectuals." These are the professors and journalists who buttress the status quo by rehearsing ideological catechisms and exposing heretics. We certainly have a lumpenintelligentsia , left and right: tenured professors, columnists, think tank apparatchiks, and human resources directors.


I regularly read two lumpenintellectuals in order to understand the orthodoxies of our political mainstream: Tom Friedman over at the New York Times and Bret Stephens at the Wall Street Journal . The former is a cheerleader for today's globalist orthodoxies, complete with ritual expressions of misgivings. The latter eagerly plays the role of Leninist enforcer of those orthodoxies.


♦ Bill Kristol recently stepped down as day-to-day editor at the Weekly Standard . .... As he put it with characteristic humor, "Here at The Weekly Standard , we've always been for regime change."...


[Sep 12, 2020] Nineteen years since 9/11 Nobel Laureate Paul Krugman attempt to Infects Readers With 9/11 Dementia

Sep 12, 2020 | www.moonofalabama.org

psychohistorian , Sep 11 2020 16:05 utc | 2

The price for the worst tweet of the year goes to Paul Krugman .


bigger

In the real world the U.S. reacted to 9/11 by doing extremely bad and ridiculous things as well as this :

In the days, weeks, and months immediately following the 9/11 attacks, Arab-Americans, South Asian-Americans, Muslim-Americans, and Sikh-Americans were the targets of widespread hate violence. Many of the perpetrators of these acts of hate violence claimed they were acting patriotically by retaliating against those responsible for 9/11.
...
Just after September 11, numerous Arabs, Muslims, and individuals perceived to be Arab or Muslim were assaulted, and some killed, by individuals who believed they were responsible for or connected to the attacks on the World Trade Center and Pentagon. The first backlash killing occurred four days after September 11.

Balbir Singh Sodhi was shot to death on September 15 as he was planting flowers outside his Chevron gas station. The man who shot Sodhi, Frank Roque, had told an employee of an Applebee's restaurant that he was "going to go out and shoot some towel heads." Roque mistakenly thought Sodhi was Arab because Sodhi, an immigrant from India, had a beard and wore a turban as part of his Sikh faith. After shooting Sodhi, Roque drove to a Mobil gas station a few miles away and shot at a Lebanese-American clerk. He then drove to a home he once owned and shot and almost hit an Afghani man who was coming out the front door. When he was arrested two hours later, Roque shouted, "I stand for America all the way."

The next two killings were committed by a man named Mark Stroman. On September 15, 2001, Stroman shot and killed Waquar Hassan, an immigrant from Pakistan, at Hassan's grocery store in Dallas, Texas. On October 4, 2001, Stroman shot and killed Vasudev Patel, an immigrant from India and a naturalized U.S. citizen, while Patel was working at his Shell station convenience store. A store video camera recorded the killing, helping police to identify Stroman as the killer. Stroman later told a Dallas television station that he shot Hassan and Patel because, "We're at war. I did what I had to do. I did it to retaliate against those who retaliated against us."

Beyond these killings, there were more than a thousand other anti-Muslim or anti-Arab acts of hate which took the form of physical assaults, verbal harassment and intimidation, arson, attacks on mosques, vandalism, and other property damage.

Instead of "calming prejudice" the GB Bush administration institutionalized hate crimes:

First, in the weeks immediately following the September 11 attacks, the government began secretly arresting and detaining Arab, Muslim, and South Asian men. Within the first two months after the attacks, the government had detained at least 1,200 men.
...
Second, in November 2001, the Department of Justice began efforts to "interview" approximately 5,000 men between the ages of 18 and 33 from Middle Eastern or Muslim nations who had arrived in the United States within the previous two years on a temporary student, tourist, or business visa and were lawful residents of the United States. Four months later, the government announced it would seek to interview an additional 3,000 men from countries with an Al Qaeda presence.
...
Third, in September 2002, the government implemented a "Special Registration" program also known as NSEERS (National Security Entry-Exit Registration System), requiring immigrant men from 26 mostly Muslim countries to register their name, address, telephone number, place of birth, date of arrival in the United States, height, weight, hair and eye color, financial information and the addresses, birth dates and phone numbers of parents and any foreign friends with the government.

Besides all that a rather useless security theater was installed at U.S. airports which has costs many billions in lost time and productivity ever since. The Patriot Act was introduced which allowed for unlimited spying on private citizens. Wars were launched that were claimed to be justified by 9/11. These were "mass outbreaks of anti-Muslim sentiment and violence. Many were killed and maimed in them. People were tortured and vanished. All of this happened largely to applause of a majority of the U.S. people which were glued to 24 and dreamed of being "terrorist hunters".

Anyone with a functional memory knows that the U.S. reaction to 9/11 was anything but "pretty calm". It is ridiculous that Krugman is claiming that.

Posted by b at 15:46 UTC | Comments (73)

I find it a bit humorous b that you are critical of Krugman for his 911 dementia when for years many of us finance types have railed about how morally corrupt the logic and thinking of Paul Krugman is.

Paul Krugman is to economics what Bernie Sanders has become for the purported "left" side of the "right wing" uni-party....a sheep dog for the easily led.

Paul Krugman is an acolyte for the God of Mammon/global private finance elite.


Clueless Joe , Sep 11 2020 16:11 utc | 3

Paul is getting old. Looks like senile dementia isn't limited to Biden nowadays.

Red Ryder , Sep 11 2020 16:44 utc | 11

While spreading anger and hate toward Arab people, The Bush Administration rescued the many members of the Kingdom's family from all around the US and escorted their flights out of the US to safety in Saudi Arabia.

Distracting the public big time was Dick Cheney, VP, who insisted from the very next day that the plot to hit the Twin Towers was Saddam's plot.

So, the historical record and US response was skewed from the getgo. AQ and Bin Laden didn't concern the neocons. They wanted the US to go to Iraq again, and this time start a wide war that would spread to Syria and Lebanon and Iran.

It was easy times to spread fear and hate, and Cheney and the war mongers of CENTCOM were riding high. Americans were scared of all Arabs, all Sunnis, all Shiites, from anywhere. They were all the same in the public's mind. Enemies.

It was perfect and has led to 19 years of endless wars. Add ISIS and al Nusra and the Taliban and you have an endless soup of enemies.

Jackrabbit , Sep 11 2020 17:01 utc | 13

I'm coining a new term: "Empire apologist".

!!

michaelj72 , Sep 11 2020 19:59 utc | 35

krugman is a terrible shill for the neo-cons and liberal-interventionists of the 21st century

at my age, I shouldn't really be surprised any more by what american "intellectuals" and "nobel prize winners" say about anything..... but I am.

He's neo-liberal interventionist moron of the first rank, and saying what he did actually normalizes the war mania and war-mongering which has become so staple in mainstream thought and the "think tanks" and is now practically part of the american DNA and "culture".
shame on krugman

Hoarsewhisperer , Sep 11 2020 20:08 utc | 36

...
It appears the Deep State has attacked the USA's people twice in two decades--on 911 and with the decision to let as many die as possible by deliberately not doing anything to mitigate the impact of COVID-19 and allowing the real economy to atrophy so even more will die in the long run.
Posted by: karlof1 | Sep 11 2020 19:40 utc | 34

Talking about tilting at windmills - I'll never forget Robert Fisk angrily pointing out that the Yankees knew where to find Al CIA-duh because they extended the cave complex at Tora Bora to help Al CIA-duh, equipped with 10,000 US Stinger Missiles, kick the Russians out of Afghanistan in the 1980s!!!

(The Yankees had to wait for 10+ years to invade Afghanistan because it takes that long for Stingers to pass their Use By date)

Rob , Sep 11 2020 20:08 utc | 37

@michaelj72. "krugman is a terrible shill for the neo-cons and liberal-interventionists of the 21st century"

Actually, Paul Krugman was a strong and outspoken opponent of the Iraq War since early 2003 and possibly earlier. He was amongst the few mainstream liberal commentators to take that stand.

Jen , Sep 11 2020 21:02 utc | 44

If MoA readers and commenters were to read the entire series of Krugman's tweets, six in all, they will see mention of how the Bush govt began exploiting the events of 11 September 2001 almost immediately. Though the example Krugman actually uses would make most people cringe at what it suggests about the bubble he lives in and how far removed it is from most people's lives and experiences, and his reference to a "horrible war" does not mention either Afghanistan or Iraq.

It has to be said that Twitter is not designed very well for the kind of informal conversational commentary that people often use it for. But then you would think Krugman would use something other than Twitter to discuss and compare 9/11 with the impact of COVID-19.

The real issue I have with Krugman's Tweet is that he is revising history and bending over backwards to apologise for Dubya in a way to criticise Donald Trump's performance as President.

uncle tungsten , Sep 11 2020 22:13 utc | 50
b " Anyone with a functional memory knows that the U.S. reaction to 9/11 was anything but "pretty calm". It is ridiculous that Krugman is claiming that. "

Careful with that axe b, you are talking about Biden's chief economic adviser and likely appointee as Chair of the Fed. How does this look?
Volker
Greenspan
Bernanke
Yellen
Powell
Krugman

What could go wrong?

Prof K , Sep 11 2020 22:15 utc | 51
From 2019, Krugman de facto admits he was wrong his whole life. What a tool.

https://www.bloomberg.com/opinion/articles/2019-10-10/inequality-globalization-and-the-missteps-of-1990s-economics

David G , Sep 11 2020 22:34 utc | 54

uncle tungsten | Sep 11 2020 22:13 utc | 50:

Reading Krugman's columns in 2016, I had a strong to overwhelming sense that this was a person revving up for a spot in Hillary's White House or cabinet. For some reason it isn't hitting me as strongly this time around – he may not have as close connections in Biden's circle – but it certainly would not be a surprise to see him take a turn through the media/government revolving door if Trump loses (though, fwiw, I don't think it will be a job at the Fed).

Et Tu , Sep 11 2020 22:48 utc | 55

Yep. Pretty staggering how a few disgruntled ex-CIA contractors managed to, deliberately or not, help the US Gov't launch the biggest world war operation right under the noses of the brainwashed masses.

99% of Westerners still are clueless as to explaining the last 20 years in a broader geopolitical context.

Russ , Sep 11 2020 22:48 utc | 56

Posted by: Caliman | Sep 11 2020 22:15 utc | 52

#28: "The antiwar protests in the US were small and insignificant."

No they were not. Millions of people demonstrated against the planned war, in the US, in the UK, and around the world...

We mustn't forget how the vast majority of those who allegedly were anti-war suddenly went totally pro-war silent upon Obama coming in.

But that pales compared to the vile spectacle of all the self-alleged "anti-authoritarians", "anti-propagandists" "dissidents", who suddenly regard the government media as the literal voice of God, where their alleged God speaks of Covid.

Prof K , Sep 11 2020 22:55 utc | 57

His book, End this Depression Now, is pretty weak. He has no theory of why the crash occurred. He critiques the austerity agenda but doesn't understand that government spending CAN create tax liabilities for capital down the road and eat into profits, thus blocking expanded investments and growth. Moronic libertarians hate Krugman just because they are right wing assholes who think, like fairies, that a free market without the state will work fine and self correct. Marx debunked this fairy tale thoroughly in Capital Volume 1, showing that, even if we start with the mythical free market of libertarian morons, capitalism will still operate according to the general law by which concentration and centralization lead to class polarization. In any case, in volume 3 of Capital, Marx develops his laws of crisis, showing that the cycles of expansion and depression under capitalism follow the movements of the rate of profit, which itself is determined by the ratio of the value of sunk capital in production technologies to the rate of exploitation (profits/wages). If the former rises more than the latter, the rate of profit sinks, along with investment, output and employment. Financial crises then set in.

The empirical evidence in the data bears out Marx's theory, not Krugman's dumb notion of aggregate demand, or the stupid libertarian focus on interest rates.

vk , Sep 12 2020 0:16 utc | 64

We could discuss here all day about the sociological subject of the American people's true positioning in the aftermath of 9/11. It would be, sincerely, a waste of time.

The important thing to grasp over this episode - from the point of view of History - is this: it was a strategic victory for al-Qaeda . The USA took the bait (all scripted?) and went into a quagmire in Iraq and Afghanistan. In a few years, the surplus the USA had accumulated with the sacking and absorption of the Soviet space during Bill Clinton evaporated and became a huge deficit in the Empire's accounts. Not long after, the 2008 financial meltdown happened, burying Bushism in a spectacular way.

There's a debate about the size of the hole the invasion of Iraq and Afghanistan cost the American Empire. Some put it into the dozens of billions of USDs; others put it into the trillions of USDs range. We will never know. What we know is that the hole was big enough to both erase the American surplus and to not avoid the financial meltdown of 2008.

Either the expansion through the Middle East wasn't fast and provided riches enough to keep up with the Empire's voracious appetite or the invasion itself already represented a last, desperate attempt by the Empire to avoid its imminent collapse. We know, however, that POTUS Bush had a list of countries he wanted to invade beyond Iraq (the "Axis of Evil") which contained a secret country (Venezuela). He was conscious Iraq and Afghanistan wouldn't be enough. Whatever the case, he didn't have the time, and the financial meltdown happened in his last year in the White House.

uncle tungsten , Sep 12 2020 1:15 utc | 65

michaelj72 #38
karlof1 at #12

great stuff from M. Hudson, one of my favorite reads these days. Hudson has krugman's number. thanks again for those snippets and the links!

Steve Keen also has his number and Keen is pro capitalist

Krugman is a moron dressed as a weasel sounding like a squawking hen, with the vision of a hemorrhoid.

Antonym , Sep 12 2020 1:26 utc | 66

The main harsh reaction of G.W. Bush after 9/11 was the formation of DHS and laws to legalize mass national and international spying on anybody with electronic traffic. https://en.wikipedia.org/wiki/United_States_Department_of_Homeland_Security#History

They knew who the perps of 9/11 were: their "own" Saudi irregulars in the CIA's US main land training camps, who started practicing on the "wrong"- domestic American- targets. These guys were officially entered without any background checks.
The Bush and Bin Laden families go way back in money making. That is why George had to ponder so long in that Florida kindergarten after hearing about the attacks: he had a suspicion. The Saudi only fly out after 9/11 confirms that.

Kay Fabr , Sep 12 2020 2:30 utc | 69

Paul Krugman Is a pro. Completely owned by Deep State. His purpose is to deflect discussion and prevent questioning the official version of 9/11 , and get people chasing something completely irrelevant. Well done Paul, most have taken the bait.

[Sep 02, 2020] Amazon spies on staff, fires them by text for not hitting secretive targets, workers 'feel forced to work through pain, injuries' report

Notable quotes:
"... workers are dehumanizingly treated by Amazon as if they are robots – persistently asked to accomplish task after task at an unforgiving rate." ..."
Sep 01, 2020 | www.theregister.com
I didn't get rich by signing checks // 10:30 UTC 141 Reg comments GOT TIPS? Kieren McCarthy in San Francisco BIO EMAIL TWITTER SHARE

Amazon is famous for its extreme efficiency yet behind the curtain is a crippling culture of surveillance and stress, according to a study by the Open Markets Institute.

The think tank and advocacy group that repeatedly takes companies like Google and Facebook to task warned in the report [PDF] that Amazon's retail side has gone far beyond promoting efficient working and has adopted an almost dystopian level of control over its warehouse workers, firing them if they fail to meet targets that are often kept a secret.

Among the practices it highlighted, the report said that workers are told to hit a target rate of packages to process per hour, though they are not told what exactly that target is. "We don't know what the rate is," one pseudonymous worker told the authors. "They change it behind the scenes. You'll know when you get a warning. They don't tell you what rate you have to hit at the beginning."

If they grow close to not meeting a target rate, or miss it, the worker receives an automated message warning them, the report said. Workers who fail to meet hidden targets can also receive a different type of electronic message; one that fires them.

"Amazon's electronic system analyzes an employee's electronic record and, after falling below productivity measures, 'automatically generates any warnings or terminations regarding quality or productivity without input from supervisors'," it stated. The data is also generated automatically: for example, those picking and packing are required to use a scanner that records every detail, including the time between scans, and feed it into a system that pushes out automated warnings.

Always watching

As with other companies, Amazon installs surveillance cameras in its workspaces to reduce theft. But the report claims Amazon has taken that approach to new lengths "with an extensive network of security cameras that tracks and monitors a worker's every move".

Bezos' bunch combines that level of surveillance with strict limits on behavior. "Upon entering the warehouse, Amazon requires workers to dispose of all of their personal belongings except a water bottle and a clear plastic bag of cash," the report noted.

For Amazon drivers, their location is constantly recorded and monitored and they are required to follow the exact route Amazon has mapped. They are required to deliver 999 out of every 1,000 packages on time or face the sack; something that the report argues has led to widespread speeding and a related increase in crashes.

The same tracking software ensures that workers only take 30 minutes for lunch and two separate 15-minute breaks during the day. The report also noted that the web goliath has patented a wristband that "can precisely track where warehouse employees are placing their hands and use vibrations to nudge them in a different direction".

Amazon also attempts to prevent efforts to unionize by actively tracking workers and breaking up any meetings of too many people, including identifying possible union organizers and moving them around the workplace to prevent them talking to the same group for too long, the report claimed.

It quoted a source named Mohamed as saying: "They spread the workers out you cannot talk to your colleagues The managers come to you and say they'll send you to a different station."

The combined effort of constant surveillance with the risk of being fired at any point has created, according to workers, a " Lord Of The Flies -esque environment where the perceived weakest links are culled every year".

Stress and quotas

The report said Amazon's workers "are under constant stress to make their quotas for collecting and organizing hundreds of packages per hour" resulting in "constant 'low-grade panic' to work. In this sense, workers are dehumanizingly treated by Amazon as if they are robots – persistently asked to accomplish task after task at an unforgiving rate."

At the end of the day, warehouse employees are required to go through mandatory screening to check they haven't stolen anything, which "requires waiting times that can range from 25 minutes to an hour" and is not compensated, the report said.

Amazon CEO Jeff Bezos 'I don't recognise Amazon as a bullying workplace' says Bezos READ MORE

Amazon also allegedly fails to account for any injuries, the report said, to the extent that "Amazon employees feel forced to work through the pain and injuries they incur on the job, as Amazon routinely fires employees who fall behind their quotas, without taking such injuries into account."

It quoted another piece of reporting that found Amazon's rate of severe injuries in its warehouses is, in some cases, more than five times the industry average. It also noted that the National Council for Occupational Safety and Health listed Amazon as one of the "dirty dozen" on its list of the most dangerous places to work in the United States in 2018.

The report concluded that "Amazon's practices exacerbate the inequality between employees and management by keeping employees in a constant state of precariousness, with the threat of being fired for even the slightest deviation, which ensures full compliance with employer-demanded standards and limits worker freedom."

Being a think tank, the Open Markets Institute listed a series of policy and legal changes that would help alleviate the work issues. It proposed a complete ban on "invasive forms of worker surveillance" and a rule against any forms of surveillance that "preemptively interfere with unionization efforts".

It also wants a law that allows independent contractors to unionize and the legalization of secondary boycotts, as well as better enforcement of the rules against companies by government departments including America's trade watchdog the FTC and Department of Justice, as well as a ban on non-compete agreements and class action waivers.

In response to the allegations in the report, a spokesperson for Amazon told us: "Like most companies, we have performance expectations for every Amazonian – be it corporate employee or fulfillment center associate and we measure actual performance against those expectations.

"Associate performance is measured and evaluated over a long period of time as we know that a variety of things could impact the ability to meet expectations in any given day or hour. We support people who are not performing to the levels expected with dedicated coaching to help them improve." ®

[Sep 01, 2020] Are We Deliberately Trying to Provoke a Military Crisis With Russia by Ted Galen Carpenter

Highly recommended!
Notable quotes:
"... There has been a long string of U.S. provocations toward Russia. The first one came in the late 1990s and the initial years of the twenty-first century when Washington violated tacit promises given to Mikhail Gorbachev and other Soviet leaders that if Moscow accepted a united Germany within NATO, the Alliance would not seek to move farther east. Instead of abiding by that bargain, the Clinton and Bush administrations successfully pushed NATO to admit multiple new members from Central and Eastern Europe, bringing that powerful military association directly to Russia's western border. In addition, the United States initiated "rotational" deployments of its forces to the new members so that the U.S. military presence in those countries became permanent in all but name. Even Robert M. Gates, who served as secretary of defense under both George W. Bush and Barack Obama, was uneasy about those deployments and conceded that he should have warned Bush in 2007 that they might be unnecessarily provocative. ..."
"... Such provocative political steps, though, are now overshadowed by worrisome U.S. and NATO military moves. Weeks before the formal announcement on July 29, the Trump administration touted its plan to relocate some U.S. forces stationed in Germany. When Secretary of Defense Mike Esper finally made the announcement, the media's focus was largely on the point that 11,900 troops would leave that country. ..."
"... Among other developments, there already has been a surge of alarming incidents between U.S. and Russian military aircraft in that region. Most of the cases involve U.S. spy planes flying near the Russian coast -- supposedly in international airspace. On July 30, a Russian Su-27 jet fighter intercepted two American surveillance aircraft; according to Russian officials, it was the fourth time in the final week of July that they caught U.S. planes in that sector approaching the Russian coast. Yet another interception occurred on August 5, again involving two U.S. spy planes. Still others have taken place throughout mid-August. It is a reckless practice that easily could escalate into a broader, very dangerous confrontation. ..."
"... The growing number of such incidents is a manifestation of the surging U.S. military presence along Russia's border, especially in the Black Sea . They are taking place on Russia's doorstep, thousands of miles away from the American homeland. Americans should consider how the United States would react if Russia decided to establish a major naval and air presence in the Gulf of Mexico, operating out of bases in such allied countries as Cuba, Venezuela, and Nicaragua. ..."
"... I think this has been bipartisan policy since at least 1947. Unlikely to change anytime soon, even with realists gaining ground. Perhaps expanding NATO east, sending support to Ukraine, and intervening in Syria (despite attempts to leave, the best we can get at this point are small troop reductions that most likely are redeployed to neighboring countries) aren't the best idea after all? ..."
"... they think Russia is a weak state and can do nothing therefore they are free to do as they please. ..."
"... the US leadership wants ether country to take a shot at some thing US. Then then can scream and stomp their feet that no one on earth is allowed to trade with ether country and the US can block all trade with ether country. ..."
"... The other thing at play is Americans love it when their leaders act like gangsters. That's why leaders do it. Nothing will get you votes faster in the US than saying your going to kill people. I see US citizens try that non-sense about it's all Washington we don't want that. But you keep voting for people that are going to give you the next war fix. When you stop they will stop. ..."
"... if people are convinced that Russia is a weak state -- then it is easier to approve adventures abroad -- including ringing Russia. ..."
"... Please explain to me, a Russian person, what kind of anti-American policy Russia is spreading in countries? If we exclude acts of counteraction against American expansion and aggression against Russia? ..."
"... The only people that are destroying Americans are within our borders, wielding power to fulfill their mission -- enrich themselves, keep the borders open, and our military all over the globe. ..."
"... I think there is a third option besides escalation and deescalation - exhaustion. Projecting power across the globe is expensive, it is a slow but steady drain on US resources, which are needed elsewhere (for example to quell the riots in major US cities). ..."
"... I see it as exhaustion by corruption. The US military is increasingly bureaucratic, political and ineffectual. Our weapons are gold-plated, hyper-tech focused and require highly-skilled people to maintain them, which means we can't quickly train new people up. The weapons themselves are so complex and expensive that there is no way to manufacture them at scale quickly. ..."
"... Read Jean Lartegy's "The Centurions." That is the direction where the tactically brilliant, but strategically incompetent US military leadership is headed. ..."
"... Stop focusing on what Trump says and look at what his administration does. Troops in Poland and Eastern Europe, Nord Stream 2, intrusive US reconnaissance flights along Russia's borders, support of Ukraine, interference with Russian patrols in Syria, the continuing attempt to destabilize Assad in Syria, the destruction of JCPOA, global sanctions campaign on Russia among others, withdrawal from arms control treaties, accusation that Russia was cheating on INF treaty, hiring dozens of anti-Russia hardliners, etc, etc. ..."
"... I don't think US-Russian cooperation is doable at this point--or any time soon. Given how erratic US policy is--yawing violently from one direction to another--Russia has no reason to accept the damage to its relationship with China that shifting to a strategic arrangement with the US would entail. The risk is too high and the potential rewards too uncertain. ..."
"... We have pretty much alienated the Russian state under Putin, and now we're trying to wait him out, with the expectation that there is no one of his capabilities to maintain the strategic autonomy of the Russian state in the longer term and that once he exits the scene, some Yeltsin-like stooge will present himself. ..."
"... Everyone is focusing on Russia because of the Russia hoax. Dems started a new cold war based on an irrational fear that Russia was threatening our democracy. ..."
"... The foreign policy elite dislikes Russia, always has, and will do anything to keep this "adversary" front and center because their prospects for prestige, power and position depend upon the presence of an enemy. As an example see Strobe Talbot and Michael McFaul. ..."
Aug 28, 2020 | www.theamericanconservative.com

Tensions are becoming dangerous in Syria and on Russia's back doorstep. US soldiers stand near US and Russian military vehicles in the northeastern Syrian town of al-Malikiyah (Derik) at the border with Turkey, on June 3, 2020. (Photo by DELIL SOULEIMAN/AFP via Getty Images)

A dangerous vehicle collision between U.S and Russian soldiers in Northeastern Syria on Aug. 24 highlights the fragility of the relationship and the broader test of wills between the two major powers.

According to White House reports and a Russian video that went viral this week, it appeared that as the two sides were racing down a highway in armored vehicles, the Russians sideswiped the Americans, leaving four U.S. soldiers injured. It is but the latest clash as both sides continue their patrols in the volatile area. But it speaks of bigger problems with U.S. provocations on Russia's backdoor in Eastern Europe.

A sober examination of U.S. policy toward Russia since the disintegration of the Soviet Union leads to two possible conclusions. One is that U.S. leaders, in both Republican and Democratic administrations, have been utterly tone-deaf to how Washington's actions are perceived in Moscow. The other possibility is that those leaders adopted a policy of maximum jingoistic swagger intended to intimidate Russia, even if it meant obliterating a constructive bilateral relationship and eventually risking a dangerous showdown. Washington's latest military moves, especially in Eastern Europe and the Black Sea, are stoking alarming tensions.

There has been a long string of U.S. provocations toward Russia. The first one came in the late 1990s and the initial years of the twenty-first century when Washington violated tacit promises given to Mikhail Gorbachev and other Soviet leaders that if Moscow accepted a united Germany within NATO, the Alliance would not seek to move farther east. Instead of abiding by that bargain, the Clinton and Bush administrations successfully pushed NATO to admit multiple new members from Central and Eastern Europe, bringing that powerful military association directly to Russia's western border. In addition, the United States initiated "rotational" deployments of its forces to the new members so that the U.S. military presence in those countries became permanent in all but name. Even Robert M. Gates, who served as secretary of defense under both George W. Bush and Barack Obama, was uneasy about those deployments and conceded that he should have warned Bush in 2007 that they might be unnecessarily provocative.

As if such steps were not antagonistic enough, both Bush and Obama sought to bring Georgia and Ukraine into NATO. The latter country is not only within what Russia regards as its legitimate sphere of influence, but within its core security zone. Even key European members of NATO, especially France and Germany, believed that such a move was unwise and blocked Washington's ambitions. That resistance, however, did not inhibit a Western effort to meddle in Ukraine's internal affairs to help demonstrators unseat Ukraine's elected, pro-Russia president and install a new, pro-NATO government in 2014.

Such provocative political steps, though, are now overshadowed by worrisome U.S. and NATO military moves. Weeks before the formal announcement on July 29, the Trump administration touted its plan to relocate some U.S. forces stationed in Germany. When Secretary of Defense Mike Esper finally made the announcement, the media's focus was largely on the point that 11,900 troops would leave that country.

However, Esper made it clear that only 6,400 would return to the United States; the other nearly 5,600 would be redeployed to other NATO members in Europe. Indeed, of the 6,400 coming back to the United States, "many of these or similar units will begin conducting rotational deployments back to Europe." Worse, of the 5,600 staying in Europe, it turns out that at least 1,000 are going to Poland's eastern border with Russia.

Another result of the redeployment will be to boost U.S. military power in the Black Sea. Esper confirmed that various units would "begin continuous rotations farther east in the Black Sea region, giving us a more enduring presence to enhance deterrence and reassure allies along NATO's southeastern flank." Moscow is certain to regard that measure as another on a growing list of Black Sea provocations by the United States.

Among other developments, there already has been a surge of alarming incidents between U.S. and Russian military aircraft in that region. Most of the cases involve U.S. spy planes flying near the Russian coast -- supposedly in international airspace. On July 30, a Russian Su-27 jet fighter intercepted two American surveillance aircraft; according to Russian officials, it was the fourth time in the final week of July that they caught U.S. planes in that sector approaching the Russian coast. Yet another interception occurred on August 5, again involving two U.S. spy planes. Still others have taken place throughout mid-August. It is a reckless practice that easily could escalate into a broader, very dangerous confrontation.

The growing number of such incidents is a manifestation of the surging U.S. military presence along Russia's border, especially in the Black Sea . They are taking place on Russia's doorstep, thousands of miles away from the American homeland. Americans should consider how the United States would react if Russia decided to establish a major naval and air presence in the Gulf of Mexico, operating out of bases in such allied countries as Cuba, Venezuela, and Nicaragua.

The undeniable reality is that the United States and its NATO allies are crowding Russia; Russia is not crowding the United States. Washington's bumptious policies already have wrecked a once-promising bilateral relationship and created a needless new cold war with Moscow. If more prudent U.S. policies are not adopted soon, that cold war might well turn hot.

Ted Galen Carpenter, a senior fellow in security studies at the Cato Institute and a contributing editor at The American Conservative, is the author of 12 books and more than 850 articles on international affairs. His latest book is NATO: The Dangerous Dinosaur (2019).


Tradcon 5 days ago • edited

I mean, I think this has been bipartisan policy since at least 1947. Unlikely to change anytime soon, even with realists gaining ground. Perhaps expanding NATO east, sending support to Ukraine, and intervening in Syria (despite attempts to leave, the best we can get at this point are small troop reductions that most likely are redeployed to neighboring countries) aren't the best idea after all?

Mike P Tradcon 4 days ago

This is a very anti American article! Patriots know that where the U.S. gives political or economic ground Russia and other adversaries will fill the vacum with policies intended to destroy American peoeple. So no, it is not a bad idea to be involved in Syria and Ukraine in fact it is a very good idea.

northernobserver Mike P 4 days ago

The entire framing of Turkey, Saudi Arabia and the Muslim Brotherhood as "pro American" and those who oppose them as "anti American" is delusional.
Russia is a weak state trying to maintain its natural spheres of influence along the Curzon line. Why has the State Department/ Pentagon decided to try and roll this back? How the F to they expect Russia to react. How would America react if a foreign power tried to turn Mexico into a strategic asset. So why is it ok to make Ukraine into a Nato member? It's reckless and ultimately it is pointless. Weakening Russia further serves little strategic purpose and potentially threatens to destabilize the Balkans and mid east with Turkish adventurism. What will America do if the Turks seize Rhodes under some pretext?

Syria is another case of State Department midwits not understanding the results of their regime change. What purpose does it serve to put a Sunni extremist government in Damascus. How hateful do you have to be to subject Syria's minorities to genocide at the hands of an ISIS sympathetic government? How do you delude yourself that such a regime will serve America's interests in the long run? So you can own Iran before the election? You are trading victory today for permanent loss tomorrow. It's insane.

Aen Elle northernobserver 4 days ago
How the F to they expect Russia to react.

Just like you, they think Russia is a weak state and can do nothing therefore they are free to do as they please. Also, since Turkey is a NATO member and as such an ally to the U.S. shouldn't you be cheering in good faith for Turkey and against Russia?

Bianca Aen Elle a day ago

You got that one. Because Turkey is a thorn in NATO side. It has massive economic interests in Russia, China and the rest of Asia. The "adventure" in Syria is coordinated with Russia to the last detail, while playacting tensions. US problem in Syria is not Russia or Turkey, but Russia AND Turkey.

As US is frowning at Egypt Al-Sisi , or Saudi MBS -- it is because they frown at Egypt AND Russia, as well as Saudi Arabia AND Russia.
Basically, countries nominally counted in OUR camp are frowned upon when collaborating with the ENEMY countries.
Our foreign policy is stuck in Middle East -- and cannot get unstuck. Cannot be better illustrated then Pompeo addressing Republican convention from Jerusalem.

The only way Russia can challenge encirclement is by challenging US in its home away from home -- Middle East. And creating new realities in the ground by collaborating with the countries in the region -- undermining monopoly.

And as the entire world is hurting from epidemic related economic setbacks, Russia and China are economies that are moving forward. And nobody in the Middle East can afford to ignore it.

J Villain northernobserver 4 days ago

I agree with you with the exception of Russia being weak. One day the US which has never seen any thing in advance will push Russia one time to many and find the Russian Army in Poland and Romania. That is if China doesn't take out some thing precious to the US in the mean time like a U2, aircraft carrier etc.

There are two things at play here. The first is the US leadership wants ether country to take a shot at some thing US. Then then can scream and stomp their feet that no one on earth is allowed to trade with ether country and the US can block all trade with ether country.

The other thing at play is Americans love it when their leaders act like gangsters. That's why leaders do it. Nothing will get you votes faster in the US than saying your going to kill people. I see US citizens try that non-sense about it's all Washington we don't want that. But you keep voting for people that are going to give you the next war fix. When you stop they will stop.

PJ London J Villain a day ago

I agree with your assessment except Russia will not put troops into any country without the express request from the legitimate government. They are not going into Poland and especially not Romania (Transnistria maybe) why would they? The countries do not have any resources that Russia wants. The only reason to put troops into Belarus is to maintain a distance between Poland and the borders.

Russia needs nothing from the rest of the world except trade. Un-coerced, free trade. This drives the US corporations crazy as no one will trade with the US anymore without coercion.

PS the same goes for China with the proviso that Taiwan is part of China and needs to be reabsorbed into the mainstream. It will take +20 years but China just keeps the pressure on until there will be no viable alternative.

Bianca northernobserver a day ago

It has never meant to serve American interests. Ever. Once you put it in perspective, it makes sense.

But if people are convinced that Russia is a weak state -- then it is easier to approve adventures abroad -- including ringing Russia.

The problem for never satiated Zealots is the following -- regional powers in the Middle East are hitching their wagons to Eurasian economic engine. That is definitely true of Turkey, Egypt and even Saudi Arabia. The tales of Moslem Brotherhood are here to interpret something today from the iconography from the past. And to explain today what an entirely different set of leaders did -- be that few years ago or one hundred years ago. Same goes for iconography of Al-Qaeda, ISIS, Communism, Socialism, authoritarianism, and other ISMS.

Those icons serve the same purpose as icons in religion or in cyber-space. You look at them, or you click -- and the story and explanation is ready made for your consumption. Time to watch actions -- not media iconography to tell us what is going on.

Tradcon Mike P 4 days ago

If we're being purely ideological here those with an overtly internationalist disposition (barring leftists) are those who want to be involved overseas, hardly ones to go on about national interest or pride. Its been a common stance associated with American Nationalism and Paleoconservatives to be anti-intervention, these people (of which I consider myself a part) can hardly be bashed for holding unpatriotic views.)

Russia has a declining population, and an economy smaller than that of Spain. Its hardly a threat and our involvement in Eastern Europe was relatively limited pre-2014 and even so the overall international balance of power hasn't shifted after Russian annexation of Crimea, and the Ukrainians proved quite capable of defending their nation (though not so capable as to end retake separatist strongholds.

Alexandr Kosenkov Mike P 3 days ago

Please explain to me, a Russian person, what kind of anti-American policy Russia is spreading in countries? If we exclude acts of counteraction against American expansion and aggression against Russia? What ideological foundations does Russia have after 1991? Isn't Russia's actions a guerrilla war on the communications of the self-proclaimed "Empire of Good", which is pursuing a tough offensive policy? And is it not because the Russians support a significant part of Putin's initiatives (despite a number of Putin's obvious shortcomings) precisely because they have experience of cooperation with the "Empire of Good" in the 90s: give loans, corrupt officials and deputies, put Russian firms under control big American companies, and then just give orders from the White House.
PS. I beg your pardon my google english

Bianca Mike P a day ago

Another Zealot in Patriot garb. The only people that are destroying Americans are within our borders, wielding power to fulfill their mission -- enrich themselves, keep the borders open, and our military all over the globe.

kouroi 4 days ago • edited

It would be interesting to read the minds of the US pilots engaged in these activities. My guess is that the cognitive dissonance energy in those heads is equivalent to the biggest nuclear bomb ever exploded...

Vhailor 4 days ago

Hmmm... I think there is a third option besides escalation and deescalation - exhaustion. Projecting power across the globe is expensive, it is a slow but steady drain on US resources, which are needed elsewhere (for example to quell the riots in major US cities).

In a major crisis this could lead to a breaking point. What if some US adversary decides to double down and attack (directly or by proxy) US troops and the US will not be able to respond? A humiliating defeat combined with an exhausted public decidedly set against military adventures abroad could cause a rapid retrenchment and global withdrawal.

Kent Vhailor 4 days ago

I see it as exhaustion by corruption. The US military is increasingly bureaucratic, political and ineffectual. Our weapons are gold-plated, hyper-tech focused and require highly-skilled people to maintain them, which means we can't quickly train new people up. The weapons themselves are so complex and expensive that there is no way to manufacture them at scale quickly.

The DOD today is only about personal political position, and grubbing tax-payer dollars for self-aggrandizement. In any real war with a real adversary, we wouldn't stand a chance.

Vhailor Kent 4 days ago

I wouldn't be so pessimistic regarding US military capabilities and I'm neither a US citizen or a fan of US global hegemony.

The US armed forces are made up of professionals. There are some universal advantages and disadvantages of such forces. A professional army is good at fighting wars but bad at controlling territory because of its limited size and higher costs-per-soldier. In order to control territory you need "boots on the ground" in great numbers, standing at checkpoints and patrolling the countryside. They didn't have to be trained to the level of Navy SEALS, for them it is enough if they can shoot straight and won't be scared from some fireworks and the US lacks such forces.

kouroi Vhailor 4 days ago

So how is one going to get the millions of manpower to fulfill these tasks? Pauperize the masses so that joining the army becomes the only viable solution? Introduce the Draft? Provide a pathway for US citizenship for any foreigner that joins, establishing a US Foreign Legion?

And then, how you'll have enough boots on the ground to pacify Russia or China. It took more than a month to establish and secure the beach heads in Bretagne in France in 1944. How do you think you can even get those boots to land in Russia or China, when you know that the ICBMs are going to start flying towards the continental US if something like this will ever happen?

Vhailor kouroi 4 days ago

So how is one going to get the millions of manpower to fulfill these tasks? Pauperize the masses so that joining the army becomes the only viable solution? Introduce the Draft?

It is no longer possible to introduce the draft in the US - even mentioning it would lead to social unrests.

Baruch Dreamstalker Vhailor 4 days ago

The idea of a soft-mandatory year of service with a military option has been floated. It generates neither unrest nor interest.

alan Vhailor 21 hours ago

Read Jean Lartegy's "The Centurions." That is the direction where the tactically brilliant, but strategically incompetent US military leadership is headed.

Scaathor Kent 4 days ago

In addition, those gold-plated weapon systems often do not work as advertised. Look how the multi-billion IADS of the Saudis couldn't protect their refinery complex from a cruise missile attack from Yemen. Look at the embarrassing failures of the LCS and Zumwalt ship classes, and the endless problems with the Ford CVN. The F35 is proving a ginormous boondoggle that will massively enrich LM shareholders but will do squat for US military capabilities.

kouroi Vhailor 4 days ago

It will go on as long as the US is able to benefit of its present ability to print money and have the world use that money...

Baruch Dreamstalker William Toffan 15 hours ago

The alternative is an incumbent who runs against the condition of his own country as an outsider. It take an idiot to support that.

PJ London Feral Finster a day ago

He already did and the Military ignored him.
He backtracked with endless excuses and conditionals.
https://www.nbcnews.com/new...
**
Bill Clinton once reportedly told senior White House reporter Sarah McClendon, "Sarah, there's a government inside the government, and I don't control it."
**
Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organised, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.
– Woodrow Wilson, 28th President of the United States (1856-1924)
**
Do you really think that the adults with so much to lose would allow an idiot like Trump (or Clinton or Obama or Bush) to actually run things?

Feral Finster PJ London a day ago

And then, like the cuck he is, Trump knuckled under. "I like oil!"

Dan Greene bumbershoot 3 days ago

Stop focusing on what Trump says and look at what his administration does. Troops in Poland and Eastern Europe, Nord Stream 2, intrusive US reconnaissance flights along Russia's borders, support of Ukraine, interference with Russian patrols in Syria, the continuing attempt to destabilize Assad in Syria, the destruction of JCPOA, global sanctions campaign on Russia among others, withdrawal from arms control treaties, accusation that Russia was cheating on INF treaty, hiring dozens of anti-Russia hardliners, etc, etc.

I'll repeat: Focus on what Trump does, not what he says, and then total up the pro-Russia and anti-Russia actions of this administration and see what that reveals.

peter mcloughlin 4 days ago

A danger with this "new Cold War" is the assumption it will end like the first one – peacefully. If this is the thinking among policy-makers we are in a very perilous situation. History shows that fatal miscalculations contributed to the First World War, and as a consequence the second. Today there is no room for miscalculation, which will set off unstoppable escalation into a third.
https://www.ghostsofhistory...

I Don't Matter 4 days ago

Russians deliberately repeatedly ram an American vehicle, but I'm sure it's all our fault. Shouldn't have worn that skirt I guess.
Before y'all armchair Putin experts say all your loving things: you have nothing to contribute unless you speak fluent Russian. I watched the video taken and published by the Russians and it was pretty clear what they were doing.

Feral Finster I Don't Matter 4 days ago

The United States is not invited in Syria or wanted. Russian troops are in Syria at the invitation of the legitimate and recognized government.

Whatever happens to American troops there is deserved.

dba12123 . I Don't Matter 3 days ago • edited

Something critical is being missed entirely. The United States has invaded Syria without a mandate from the UN. Its' president has explicitly stated that it is the intention of the US to take Syria's oil. Both are violations of international law. Any hostile action taken against the illegal US presence in Syria is justifiable as self defense. While the US presence in Syria is illegal, Russia's presence is not. Russia was invited into Syria by the UN recognized Syrian government to assist it in defending against the US regime change by Al Qaeda proxy operation..

hooly 4 days ago

establish a major naval and air presence in the Gulf of Mexico, operating out of bases in such allied countries as Cuba, Venezuela, and Nicaragua.

What would happen if China or Russia established bases in the Caribbean and Latin America? Trump joked about selling Puerto Rico, what if the Chinese bought it?

L RNY 4 days ago

If the Israeli's have a problem with Russia being in Syria then Israel should deal with it. Its not our problem and Russia is not our enemy. Infact India is bringing closer relations between Russia and Japan. Which do you want? Russian antagonism because Israel doesn't want Russians in Syria or Russian partnership with India, Japan, Australia and the US dealing with China? Remember....you could spend 1000 years in the middle east and not make a dent in the animosities between peoples there...so one is a futile endeaver...while the other has great benefit.

Carlton Meyer 4 days ago

Note that Russian soldiers are in Syria at the request of its government to help fend off foreign invaders. The American troops are there illegally, with no UN or even Congressional authorization.

Also note the USA risks another Cuban missile crisis by withdrawing from the INF treaty after illegally building missile launch complexes in Romania and Poland that can hit Russia with nuclear cruise missiles.

The USA did much more than "meddle" in Ukraine. The Obama/Biden team openly organized a coup to overthrow its elected President because he didn't want to join NATO and the EU.

https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.youtube.com%2Fembed%2FnW7lNABfDVk%3Ffeature%3Doembed&display_name=YouTube&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DnW7lNABfDVk&image=https%3A%2F%2Fi.ytimg.com%2Fvi%2FnW7lNABfDVk%2Fhqdefault.jpg&key=21d07d84db7f4d66a55297735025d6d1&type=text%2Fhtml&schema=youtube

Hrant Carlton Meyer 4 days ago

Is that guy in the middle of the left seated Vlad Klitschko? I great boxer no doubt, but also known for his stunning stupidity. Is he part of the new Ukrainian political elite? Poor Ukraine.

Aen Elle Hrant 4 days ago

Klichko has been the mayor of Ukrainian capital city Kiev since the victory of Euromaidan in 2014 until present day.

longlance 4 days ago

Russia has been threatened & attacked by military powers to its West, East & South for 1000 years. Russia is now lean & mean, but still standing.

Baruch Dreamstalker 4 days ago • edited

A Russian vehicle sideswipes an American vehicle, injuring two US soldiers, and that's an American provocation? An American spy plane claims to be in international waters, and you tack in a "supposedly" in that sentence? "Violating" a tacit promise, really? Russia aggression against Georgia and Crimea is OK because Sphere of Influence? This article is loaded with Blame America First crap usually associated with the Left (much to this liberal's disgust). Never expected to find it here.

Yes, the expansion of NATO east must have looked to Russia like something coming at their borders entirely too fast. I thought it was a terrible idea at the time, and wrote it off to the wheels of a fifty-year-old bureaucracy not knowing how to slow down. Your eye-straining gaze at the tea-leaves for Deeper State motives is unpersuasive, even without your odious prejudices.

kouroi Baruch Dreamstalker 4 days ago

Maybe some play of Rashomon would be in order here. That is your perspective.

Now your honor, what I have seen is that Georgia attacked first and hoped to occupy a certain area that Russian Federation was protecting, As a side comment, I have to point to an Orwellian use of the word "aggressive" and "attack". It seems that anything that the US cannot wantonly control or bomb is inherently aggressive and attacking either directly or indirectly the "rules based order".

Crimea had Russian assets that became endangered. Crimea was part of Russia until 1954, when was donated in an unsanctioned manner to Ukraine. The majority Russian population in Crimea has been persecuted by the Ukrainian state since at least 1994. The Euromaidan would have exacerbated that. A referendum was carried on and just considering ethnic lines, Russians won in their desire to re-unite with the Russian Federation. There aren't many legal arguments against that referendum and that process, if one looks for them...

So the above perspectives have nothing to do with just "sphere of influence" but with direct core interests of the Russian state and its core security...

The deep state is a tool that is trying to fulfill one objective: integration of Russian economy under the control of US and its Oligarchy. Otherwise it will always be a threat. A Nationalist, democratic (but not oligarchic) and sovereign Russia will always be considered an enemy of the world hegemon...

And the provocation is the actual presence in Syria of US troops. Ramming the US military vehicle is not a provocation from Russians, it is a simple eviction notification. End of story!

Hannibal Jubal 4 days ago

Isn't it just amazing how this writer gets to turn an incident of provocation by Russian soldiers into a story of persistent provocation by America. That is remarkable dexterity even for this paper. I am used to them suggesting that we should leave the people of Eastern Europe to the tender mercies of the whims and wishes of a dictator in Moscow - because they are in his backyard. But to be able to switch from that incident to their regular theme is an achievement one can recognize, though not respect. The people of those countries should have a choice about who they associate, and they certainly have a right not to align with people they fear. Calling us for not respecting he rights of other people to decide their fates is right and proper. I enthusiastically support this paper when they do. But when they turn right around and castigate us for not respecting Russia's right to do it - I am flabbergasted.

Dan Greene Hannibal Jubal 3 days ago

"Isn't it just amazing how this writer gets to turn an incident of provocation by Russian soldiers into a story of persistent provocation by America."

How do you know it's an incident of provocation by Russian soldiers? It almost certainly is almost the exact opposite.

Dan Greene 3 days ago • edited

This piece spends too much time re-hashing everything Russia-US since 1990 and fails to focus on the key current issues.

The vehicle incidents in Syria are distinct from the European issue -- see below in this post -- that is generating some of the other tensions the author lists. Syria is really part of the larger Middle East issue.

His brief summary of the latest Syria mishap is inadequate to convey what actually happened.

If you actually look at the video, it does NOT appear to be the case that a Russian vehicle simply "sideswiped" a US vehicle. It appears that the US was maintaining a checkpoint on a road that in effect blocked Russian passage. Given the terrain, the Russians could of course bypass such a checkpoint, which is what they appear to have done. Then, however, other US vehicles left the checkpoint and attempted to block and turn back the Russian bypass movement, and this led to the collision. So the incident is part of a larger US policy to impede Russian operations in NE Syria.

Almost two years ago, Trump ordered US forces out of Syria, and Russia, in agreement with that plan, sent patrols to the NE to ensure that provisions of an stability agreement with Turkey and the Kurds were maintained. But then Trump was almost immediately convinced--by whom is not clear, but ultimately Israel in all probability--to do a 180 and keep US forces in NE Syria, the superficial rationale being to take control of oil, the kind of pirate operation that Trump likes. In fact, the goal of those who influence Trump is to keep Syria weak and unable to rebuild with the expectation that Assad can still be overthrown at some future point. This is the desire of Israel and its operatives in the US.

Trump's zag after the zig of planned withdrawal left the US-Russian understanding in chaos. Now both the US AND the Russians were operating in NE Syria. And over time the US has become more and more aggressive about impeding Russian operations. The Russians claim--credibly--that we are demanding that they, in moving their patrols up to the area of the Syria-Turkey border area not use the M4 highway, the main and direct route and instead follow a secondary route that circuitously follows the border. The Russians don't accept that demand. And the vehicle incidents that we are seeing are the outcome of that disagreement. The Russians are driving up Highway 4 and when they get to the US checkpoint are bypassing and then continuing up the highway. We are aggressively trying to deter them from that route choice.

Not sure why this article does not go into detail on this issue in order to clarify it.

Much of the other stuff the author is talking about here--intrusive air ops in the Black Sea, etc--is really a separate, European issue. The US is highly concerned about the economic interactions between Russia and Europe--especially the big economies of Western Europe and most especially Germany. We are worried that over time Russian-European economic integration will erode our strategic control and dominance over Europe in general.

Hence, we are making common cause with the anti-Russian elements in "the New Europe," i.e., Eastern Europe to try, in essence, to place a barrier between Russia and Western Europe, playing off Poland, the Baltics and Romania, among others, against Russia, Germany, France et al. Moving more US forces into Poland and the so-called "Black Sea Region"; impeding Nord Stream 2 and other Russian pipeline initiatives; indulging in recurrent anti-German propaganda for not maintaining a more robust anti-Russian military posture; fomenting (behind the scenes) the recent disturbances in Belarus; and promotion of the so-called "Three Seas Initiative" intended to weld Eastern and Central Europe together into a reliable tool of US policy are all part of this plan to retain US strategic control of Europe over the long term.

That's what the heightened tensions in Europe are about.

As I said, the Syria issue, part of the larger Middle East struggle, is separate from the parallel struggle for mastery in Europe.

It's all an important topic, but this article doesn't really capture the salient points.

Dan Greene Hannibal Jubal 3 days ago • edited

You're living in a dreamland.

And you're playing word games. Syria's oil is effectively under US control. Yes, we are deriving strategic benefit from it in that we are denying it to the Syrian government in order to further destabilize it. It's not a good policy, but the policy does benefit from denying Syria its oil.

The problem is that most of the oil is on Arab land, not Kurdish land, and the Arabs of the Northeast are now realigning themselves with Assad, so holding on to the oil is likely to get more difficult in the future.

I have no idea what you mean by "slander." Guess that means truths you find inconvenient. Sorry--not in the business of coddling the faint of heart. Trump likes the idea of taking resources which he imagines to be payment for services we have rendered--like leaving the country in a state of ruin. He talked about Iraqi oil that way too, but taking that would be much harder.

Time for you to stop dismissing every reality you don't like as unpatriotic.

dba12123 . Hannibal Jubal 3 days ago

The "Assad regime" is the UN recognized government of Syria. That is the only entity entitled to the country's resources. How is it "the property of the Syrian nation" if the Syrian government and its people no longer have access to it? To whom is the oil being sold? Who is receiving the proceeds of the oil sales?

Here are some of Trump's own words with respect to Syria's oil. "I like oil. We are keeping the oil." 4/11/2019. "The US is in Syria solely for the oil." "We are keeping the oil. We have the oil. The oil is secure. We left troops behind only for oil." "The US military is in Syria only for oil." What part of Trump's public assertion that "We are keeping the oil" are you having difficulty in understanding? How can you say the US "did not take possession of the oil" when Trump could not have been more explicit in saying precisely the opposite? Do you not comprehend that the US presence in Syria has no mandate either from the UN or from the US Congress. Do you not understand that the US presence in Syria is illegal under international law? Do you not understand that "Keeping the oil" is a violation of international law? Your post is one of the most ridiculous I have even read.

Dan Greene Hannibal Jubal 2 days ago • edited

1. It's quite clear from the video that the US had set up a checkpoint on the road at left in the video. (Indeed, we are open about the fact that we are doing so in general in NE Syria.) And it's equally clear that Russian vehicles are seen bypassing those checkpoints. The encounter between US and Russian vehicles takes place off the road. There is only one logical interpretation of what happened. What is your alternative explanation?

2. "No one reading this can believe that Eastern Europeans have genuine cause to fear Russia, or that these countries continually request more military and political involvement than we are willing to provide or that we are not inducing them to do anything or manipulating them."

First of all, there are no current indications of any Russian intent to do anything in regard to Eastern Europe. Yes, one can understand the history, which is why there is anti-Russian sentiment in Eastern Europe, but aside perhaps from the Baltic states in their unique geographic position, there is no country that has any basis in reality to worry about Russian aggression in the present.

Of course, this does not stop the Poles from doing exactly that. And perhaps the Romanians to a much lesser extent. So yes, there is fear in a few key countries based on past history, Poland being the keystone of the whole thing, and yes, we are indeed manipulating that fear in an attempt to block/undermine any economic integration between Germany and Russia. We are also trying to use the "Three Seas Initiative" to block Chinese commercial and tech penetration of Eastern Europe--5G and their plan to rebuild the port of Trieste to service Central and NE Europe.

Do you actually believe Russia, which has lately been cutting its defense budget, is actually going to invade Europe? That really is a fantasy. The only military operations they will take are to prevent further expansion of NATO into Ukraine and Belarus. The real game today is commercial and tech competition. Putin knows it would be disastrous for Russia to start a war with NATO. Not sure why that's hard for you to see.

Your notion of the Russian threat--as it exists today--is wildly exaggerated.

Dr.Diprospan 3 days ago

Once President Putin remarked that there are forces in the United States trying to use Russia for internal political struggle. He added that we will nevertheless try not to be drawn into these confrontations.

A scene from a Hollywood action movie rises before my eyes, when two heroes of the film are fighting and a circular saw is spinning nearby, and each of the heroes is trying to shove a part of the enemy's body under this saw.

The relationship between Russian and American servicemen, I would compare with two hockey teams, when the tough behavior of the players on the ice does not mean that the players of one team would be happy with the death of the entire opposing team, say in some kind of plane crash, since the presence of a strong opponent is a necessary condition for getting a good salary.

Still, I would not completely deny the possibility of a "hot war".

Since the times of the Roman Empire, the West of Europe has been trying to take control of the territory of Europe, Eurasia, and Eurasia, in turn, dreams of mastering the technologies of the West.

The defeat of the 3rd Reich provided the Soviet Union with a breakthrough in the nuclear industry and space...

It's hard to imagine that Russia is capable of defeating NATO, but I can imagine that in the current situation, President Putin can offer China to build military bases in western Russia for a million Chinese servicemen, for 100 thousand on the Chukchi Peninsula, for 500 thousand on Sakhalin...

The extra money for renting military bases in a coronavirus crisis will not hurt anyone.

stevek9 3 days ago • edited

Of all the things about Hillary Clinton to despise, her selfish attempt to explain her loss, and to attack the President (to whom she never conceded the election!) by blaming Russia, is at the top of the list. To generate a completely unnecessary conflict with a nuclear super-power that could burn this country to ashes in minutes, out of personal vindictiveness, ... is lower than it can get.

Denmark002 3 days ago

We are totally messing with fire... we will need Europe but Russia as well to defeat the Chinese.

Dan Greene LostForWords 2 days ago • edited

I don't think US-Russian cooperation is doable at this point--or any time soon. Given how erratic US policy is--yawing violently from one direction to another--Russia has no reason to accept the damage to its relationship with China that shifting to a strategic arrangement with the US would entail. The risk is too high and the potential rewards too uncertain.

We have pretty much alienated the Russian state under Putin, and now we're trying to wait him out, with the expectation that there is no one of his capabilities to maintain the strategic autonomy of the Russian state in the longer term and that once he exits the scene, some Yeltsin-like stooge will present himself.

We thought we were dealing with the main threats to our global hegemony sequentially--Russia "defeated" in the Cold War, and then on to a defeat of "militant Islam" in the Greater Middle East and finally to a showdown with China. But now, the sequencing has fallen apart, and we're trying to prosecute all three simultaneously.

We're in serious trouble.

Ram2017 LostForWords a day ago

Hizbollah arose as a defensive militia because of an Israeli invasion of Lebanon. It is not a terrorist group even though labelled so by the US.

William H Warrick III MD a day ago

You have inverted the facts. The video evidence shows the Americans side-swiped the Russian vehicle and claimed "American soldiers had 'concussions'". A concussion requires loss of consciousness or significant changes in mental function. In football, you have your "Bell rung". You can't add 2+2 correctly. There is no evidence to support that.

Mark Thomason a day ago

No, we are just trying to outdo each other with "Putin-under-the-bed" and all-powerful-Putin causing all the world's evils.

Jamie a day ago

Everyone is focusing on Russia because of the Russia hoax. Dems started a new cold war based on an irrational fear that Russia was threatening our democracy.

Along with Dems, I also blame Putin; he bribed Hillary millions for uranium -- that doesn't lend to good relations.

alan a day ago

The foreign policy elite dislikes Russia, always has, and will do anything to keep this "adversary" front and center because their prospects for prestige, power and position depend upon the presence of an enemy. As an example see Strobe Talbot and Michael McFaul.

[Aug 31, 2020] Economics Quotes

Aug 31, 2020 | quotes.cat-v.org

Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.

-- Thomas Sowell


The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

-- Thomas Sowell


Economics is the painful elaboration of the obvious.


The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

-- Friedrich von Hayek


I can't imagine economists admitting how little they actually know. If they admitted to themselves, it would hurt their ego. If they admitted to others, it would hurt their job prospects.

-- Joseph Mattes, Vienna (The Economist, letters December 04, 2010)


The use of mathematics has brought rigor to economics. Unfortunately, it has also brought mortis .

-- Attributed to Robert Heilbroner


A study of economics usually reveals that the best time to buy anything is last year.

-- Marty Allen


Economic statistics are like a bikini, what they reveal is important, what they conceal is vital

-- Attributed to Professor Sir Frank Holmes, Victoria University, Wellington, New Zealand, 1967.


Doing econometrics is like trying to learn the laws of electricity by playing the radio.

-- Guy Orcutt


Economists

-- David Wildasin


"Murphys law of economic policy": Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.

-- Alan S. Blinder


An economist is someone who, when he finds something that works in practice, tries to make it work in theory.


The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

-- Joan Violet Robinson


An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

-- Laurence J. Peter


Having a[n in] house economist became for many business people something like havinga resident astrologer for the royal court: I don't quite understand what this fellow is saying but there must be something to it.

-- Linden. (Jan. 11, 1993). Dreary Days in the Dismal Science. Forbes. Pp. 68-70.


Economics is the only field in which two people can get a Nobel Prize for saying exactly the opposite thing.


Economists do it with models.

-- Heard at the LSE


Bentley's second Law of Economics: The only thing more dangerous than an economist is an amateur economist!

Berta's Fundamental Law of Economic Rents.. "The only thing more dangerous than an amateur economist is a professional economist."


Definition: Policy Analyst is someone unethical enough to be a lawyer, impractical enough to be a theologian, and pedantic enough to be an economist.




Economists have forecasted 9 out of the last 5 recessions.


An econometrician and an astrologer are arguing about their subjects. The astrologer says, "Astrology is more scientific. My predictions come out right half the time. Yours can't even reach that proportion". The econometrician replies, "That's because of external shocks. Stars don't have those".


When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite.

-- Attributed to Richard Thaler, now at the Univ of Chicago


The last severe depression and banking crisis could not have been achieved by normal civil servants and politicians, it required economists involvement.


Taxes

State run lotteries: think of them as tax breaks for the intelligent.

-- Evan Leibovitch


Inflation

Inflation is the one form of taxation that can be imposed without legislation.

-- Milton Friedman


Having a little inflation is like being a little pregnant–inflation feeds on itself and quickly passes the "little" mark.

-- Dian Cohen


Trade and Trade Barriers

Tariffs, quotas and other import restrictions protect the business of the rich at the expense of high cost of living for the poor. Their intent is to deprive you of the right to choose, and to force you to buy the high-priced inferior products of politically favored companies.

-- Alan Burris, A Liberty Primer


Perhaps the removal of trade restrictions throughout the world would do more for the cause of universal peace than can any political union of peoples separated by trade barriers.

-- Frank Chodorov


When goods don't cross borders, soldiers will.

-- Fredric Bastiat, early French economist


The primary reason for a tariff is that it enables the exploitation of the domestic consumer by a process indistinguishable from sheer robbery.

-- Albert Jay Nock


Regulation

Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. A fly-by-night securities operator can quickly meet all the S.E.C. requirements, gain the inference of respectability, and proceed to fleece the public. In an unregulated economy, the operator would have had to spend a number of years in reputable dealings before he could earn a position of trust sufficient to induce a number of investors to place funds with him. Protection of the consumer by regulation is thus illusory.

-- Alan Greenspan


You fucking academic eggheads! You don't know shit. You can't deregulate this industry. You're going to wreck it. You don't know a goddamn thing!

-- Robert Crandall, boss of American Airlines, to an unnamed Senate lawyer in 1971


Government

The direct use of physical force is so poor a solution to the problem of limited resources that it is commonly employed only by small children and great nations.

-- David Friedman


Government Spending

See, when the Government spends money, it creates jobs; whereas when the money is left in the hands of Taxpayers, God only knows what they do with it. Bake it into pies, probably. Anything to avoid creating jobs.

-- Dave Barry


I don't think you can spend yourself rich.

-- George Humphrey


Capitalism and Free Markets

A major source of objection to a free economy is precisely that it gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.

-- Milton Friedman


The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

-- Milton Friedman


The only thing worse than being exploited by capitalism is not being exploited by capitalism.

-- Joan Violet Robinson


Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.

-- Ludwig Mises, "Socialism"


If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can only gain at the expense of another.

-- Milton Friedman


States with central-planning regimes [ ] do tend to consume much less energy (and much less of everything else) [ ] than do Americans. There is a word for that: poverty.

-- The Politically Incorrect Guide to Socialism


Central Banks

Any system which gives so much power and so much discretion to a few men, [so] that mistakes – excusable or not – can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic – this is the key political argument against an independent central bank To paraphrase Clemenceau: money is much too serious a matter to be left to the Central Bankers.

-- Milton Friedman


A central banker walks into a pizzeria to order a pizza.

When the pizza is done, he goes up to the counter get it. There a clerk asks him: "Should I cut it into six pieces or eight pieces?"

The central banker replies: "I'm feeling rather hungry right now. You'd better cut it into eight pieces."


Intellectual Property

For one thing, there are many "inventions" that are not patentable. The "inventor" of the supermarket, for example, conferred great benefits on his fellowmen for which he could not charge them. Insofar as the same kind of ability is required for the one kind of invention as for the other, the existence of patents tends to divert activity to patentable inventions.

-- Milton Friedman


Slavery

From the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than the work performed by slaves.

The work done by slaves, though it appears to cost only their maintenance, is in the end the dearest of any. A person who can acquire no property can have no other interest but to eat as much and to labour as little as possible.

Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.

-- Adam Smith


Prohibition

It is because it's prohibited. See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.

-- Milton Friedman


In the Long Run
Minimum Wage and Unemployment

The real minimum wage is zero: unemployment.

-- Thomas Sowell


All of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.

-- Milton Friedman

Misc

Talk is cheap. Supply exceeds Demand.


It is difficult to get a man to understand something when his salary depends on his not understanding it.

-- Upton Sinclair


When you start paying people to be poor, you wind up with an awful lot of poor people.

-- Milton Friedman


of course the country could never listen to this guy .it just makes too much damn sense.

-- ryanx0 about Milton Friedman [http://www.youtube.com/watch?v=Se_TJzB9-z0]


Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.

-- Adam Smith, Wealth of Nations



Back during the Solidarity days, I heard that the following joke was being told in Poland:

A man goes into the Bank of Gdansk to make a deposit. Since he has never kept money in a bank before, he is a little nervous. 
"What happens if the Bank of Gdansk should fail?" he asks. 
"Well, in that case your money would be insured by the Bank of Warsaw." 
"But, what if the Bank of Warsaw fails?" 
"Well, there'd be no problem, because the Bank of Warsaw is insured by the National Bank of Poland." 
"And if the National Bank of Poland fails?" 
"Then your money would be insured by the Bank of Moscow." 
"And what if the Bank of Moscow fails?" 
"Then your money would be insured by the Great Bank of the Soviet Union." 
"And if that bank fails?" 
"Well, in that case, you'd lose all your money. But, wouldn't it be worth it?"

All models are wrong but some are useful.

-- George Box


I'd rather be vaguely right than precisely wrong.

-- J.M.Keynes; Found in Forbes magazine 01/25/1999 issue. In the Numbers Game column by Bernard Cohen


Far better an approximate answer to the right question, which is often vague, than an exact answer to the wrong question, which can always be made precise.

-- J. Tukey


There is an entirely leisure class located at both ends of the economic spectrum

[Aug 29, 2020] Decline of American Empire is now noced by many observers

It is closely intermixed with the collapse of neoliberlaism both as ideology and as a social practice/system.
Aug 29, 2020 | www.moonofalabama.org
Paul , Aug 27 2020 23:21 utc | 98

Et Tu @ 28

Here is some broader source material:
https://www.abc.net.au/radionational/programs/latenightlive/the-end-of-the-american-era/12597368

Remember the interviewer, Adams, is a long time PEP i.e. progressive except for Palestine.

William Gruff , Aug 28 2020 13:32 utc | 192

Bemildred @184: "If we go all Fortress America and withdraw into ourselves, as long as we are not a threat, I expect we would be allowed to do that."

That is the best possible outcome that I can imagine at this point. Several decades of deep introspection would be really good for America. Give this hysteria that's gripping the country some time to burn itself out and maybe real philosophy will have a chance to return. Perhaps that could be started by Trump sanctioning the entire planet, building his walls, and then the US will just become a blank spot on the map to the rest of the world... a coronavirus no man's land that everyone else just ignores for half century or so.

Yeah, that would actually be a far better future for us and the world than what I fear.

[Aug 29, 2020] Another triumph of neoliberalism in the USA: Gun Sales Up 72%

Consumers continue to consume although their tastes slightly changed.
Aug 29, 2020 | www.zerohedge.com

Gun sales were up 72% compared to this time last year, with first-time buyers leading the pack. Americans are likely sensing that something is horribly wrong with the rigged system we are forced to live under.

... ... ...


J S Bach , 3 hours ago

"Americans Sense Something Is Wrong: Gun Sales Up 72%"

It would be much more encouraging with this headline:

"Americans Sense Something Is Wrong: Guillotine & Noose Sales Up 72%"

Jazzyg , 3 hours ago

my little family expanded over the early summer

twin .38's

3 midget Derry's.....38...9mm...357/38 sp

muh boy's...xoxoxo

Meat Hammer , 2 hours ago

Congrats. You must be very proud. Family is everything.

[Aug 27, 2020] Slavery and immigration

Undocumented immigrants are modern day slaves, which replaced traditional slaves...`
Aug 27, 2020 | www.unz.com

TG , says: August 26, 2020 at 12:46 pm GMT

But really, it's all about the cheap labor. And not just Europe.

The Ivory Coast used to be pretty prosperous. That meant that workers had high wages, because that's what prosperity is, but that limited the profits of the rich, and we can't have that. So the black elite imported massive numbers of muslim refugees as a source of cheap labor, and by the time they had doubled the population the poverty resulting from this tore the country apart in a bloody civil war. But that's OK, the right people made a lot of money.

Brazil had slavery for much longer than the United States, and unlike the United States, Brazil only got rid of slavery after massive immigration had boosted the population so much that 'free' labor was cheaper than slave labor. Crushed to the limits, Brazil was stuck in a capital-starved condition that it never pulled out of.

It's an old story. Look through history, whenever you hear about some place that imported workers to do whatever, no that's not what happened, they imported workers to cut labor costs – and the results for the average person have always been a reduction in living standards and social disruption.

When southern American plantation owners imported back African slaves, it wasn't because they thought the country needed more black people – they wanted cheap labor. And centuries later, the damage that that policy has done to American society continues. And it wasn't necessary – the free white north, without slaves and before mass immigration, was the place that produced the greatest technological and industrial power the world had ever seen – but there just wasn't enough cheap labor for a plantation owner to live the life they wanted, so sad.

So what's happening in Europe is perhaps a bit extreme, but it's an old story. It's not really about diversity or anti-white or any of that, that's just window dressing and rationalization. It's about jamming in more and more people so wages will go down and rents and profits will go up.

[Aug 24, 2020] Why neoclassical economics is a yet another secular religious doctrine, and not a science

Highly recommended!
In a sense the USA is a theocratic society with neoliberal religion as the state religion. Not that different from the USSR whioch also was a theocratic society with some perversion of Marxism as the state religion.
Aug 24, 2020 | peakoilbarrel.com

Hickory Ignored says: 08/15/2020 AT 9:35 AM

I capitulate. Ron you are correct, we are post peak.
Post Peak

OK, now what?
It is so strange to be post-peak and not have high prices for crude,
and food.
I guess that will be coming.

note- biofuels should not be counted in liquids tally. It is a different animal, with the source being dependent on farming and soil, not drilling and geology. Just because ethanol is used for propulsion shouldn't matter- electrons and batteries aren't counted either, and rightly so. Those belong in a different category- transportation energy.

Schinzy Ignored says: 08/15/2020 AT 12:02 PM

I have argued for several years that peak oil is a low price phenomenon, not a high priced phenomenon.

The most overrated law in economics is that of supply and demand. This law suffers from what Richard Feynman called "vagueness" (see
https://www.youtube.com/watch?v=EYPapE-3FRw ). The problem is that it is always satisfied and hence gives absolutely no information about prices.

The latest iteration of our article on the oil cycle can be found at
http://www.math.univ-toulouse.fr/~schindle/articles/2020_oil_cycle_notes.pdf

alimbiquated Ignored says: 08/16/2020 AT 9:52 AM

Another problem with market theory (beyond vagueness) is that it lacks a time axis.

The theory states that the relationship between price and supply moves along the demand curve, but doesn't say how fast, just that "in the long run" the system will reach equilibrium. Being in equilibrium means being somewhere on the demand curve.

https://www.economicsonline.co.uk/Competitive_markets/Demand_curves.html

So for example, if prices go up, the demand quantity is expected to go down. The question is when.

Where does this go wrong? In classical market theory, for example, unemployment is impossible, because if labor supply outstrips demand prices (wages) should fall until until equilibrium is attained. This has been observed to be false on many occasions, including right now.

As Feymann states in the video, "If it disagrees with experiment, it's WRONG! That's all there is to it." Classical economics isn't just too vague, it is wrong.

Keynes joked about this that in the long term we'll all be dead. He meant equilibrium will never be reached, so we are never on the demand curve. He argued that "sticky prices", meaning the unwillingness to accept pay cuts, kept labor markets permanently out of equilibrium.

It's worth pondering whether oil prices are "sticky" as well. Saying yes is saying the law of supply and demand doesn't apply (in the short term). This year we have seen that both OPEC's politicking and panicky traders can cause wild swings in price unrelated to supply and demand.

Where market theory is vague is the shape of the demand curve. For example, if oil supply can't meet demand in the near future, as some here have posited, how high will prices go? Some claim it will go over $200, as people get desperate for it. Some claim that higher prices would increase efforts to find and drill more, putting a lid on prices. Some claim the shortage would crash the world economy, depressing prices. Some claim that faced with oil shortages, the world would simply switch to EVs, or stop wasting the gunk on poorly designed transportation systems, so prices would stay more or less the same.

Who is right? Nobody knows. So we don't know the shape of the demand curve. The theory is hopelessly vague.

Schinzy Ignored says: 08/16/2020 AT 12:25 PM

Good points. For all these reasons it is not surprising that the journalist Robert Samuelson noted last year that frequently economists don't know what they're talking about: https://www.washingtonpost.com/opinions/economists-often-dont-know-what-theyre-talking-about/2019/05/12/f91517d4-7338-11e9-9eb4-0828f5389013_story.html?noredirect=on&utm_term=.dc651d463df7 .

Han Neumann Ignored says: 08/17/2020 AT 8:25 PM

I have argued for several years that peak oil is a low price phenomenon, not a high priced phenomenon.

Schinzy,

The price of crude oil is only part of the Peakoil phenomenon. How much is left in the ground counts, however more important is at which velocity the remaining Gb can be extracted. I am not a geologist, but common sense says that when an oilfield is well depleted (50-70%) the most of the remaining barrels will be extracted at a much lower speed, even at very high oilprices. With secondary and tertiary EOR technology most conventional oilfields will not produce the same or close to the same amount of barrels/day as before for many more years. That's also my conclusion from what I have read more than a decade ago.
Of course with high oilprices new, relatively small, oil fields will come online and (more advanced) EOR will start in other fields, but no matter how you look at it: depletion never stops. With most oilfields in the world past-peak, only a tremendous amount of money (needed to develop EOR) can prevent world crude oilproduction from falling like a rock. And all those EOR technologies will deplete oilfields faster. Big gains in the beginning, more disappointments later.
Will there be significant amount of shale oil developed in the future in other countries than the U.S. ? If so, is that wise, regarding an already existing runaway climate change ?

[Aug 24, 2020] Tesla market cap $300B v. Exxon at $190B.

Aug 24, 2020 | peakoilbarrel.com

Stephen Hren Ignored says: 08/16/2020 AT 1:03 PM

Tesla market cap – $300B v. Exxon at $190B.

Wall Street is very story driven. They wasted a decade throwing money at tight oil and lost billions. It's hard to see how this tight oil story gets resuscitated. The '10s saw free debt, low regulatory regime, no effective alternatives to oil, skilled work force, entrenched globalized oil markets, no pandemics, etc, and they STILL lost hundreds of billions. Wall Street wants to lose their money in new ways. At least they get some novelty out of it.

[Aug 24, 2020] Why neoclassical economics is a yet another secular religious doctrine, and not a science

Aug 24, 2020 | peakoilbarrel.com

Hickory says: 08/15/2020 AT 9:35 AM

I capitulate. Ron you are correct, we are post peak. Post Peak

OK, now what? It is so strange to be post-peak and not have high prices for crude, and food. I guess that will be coming.

NOTE:

Schinzy , says: 08/15/2020 AT 12:02 PM

I have argued for several years that peak oil is a low price phenomenon, not a high priced phenomenon.

The most overrated law in economics is that of supply and demand. This law suffers from what Richard Feynman called "vagueness" (see https://www.youtube.com/watch?v=EYPapE-3FRw ). The problem is that it is always satisfied and hence gives absolutely no information about prices.

The latest iteration of our article on the oil cycle can be found at: http://www.math.univ-toulouse.fr/~schindle/articles/2020_oil_cycle_notes.pdf

alimbiquated , says: 08/16/2020 AT 9:52 AM

Another problem with market theory (beyond vagueness) is that it lacks a time axis. The theory states that the relationship between price and supply moves along the demand curve, but doesn't say how fast, just that "in the long run" the system will reach equilibrium. Being in equilibrium means being somewhere on the demand curve.

https://www.economicsonline.co.uk/Competitive_markets/Demand_curves.html

So for example, if prices go up, the demand quantity is expected to go down. The question is when.

Where does this go wrong? In classical market theory, for example, unemployment is impossible, because if labor supply outstrips demand prices (wages) should fall until until equilibrium is attained. This has been observed to be false on many occasions, including right now.

As Feymann states in the video, "If it disagrees with experiment, it's WRONG! That's all there is to it." Classical economics isn't just too vague, it is wrong.

Keynes joked about this that in the long term we'll all be dead. He meant equilibrium will never be reached, so we are never on the demand curve. He argued that "sticky prices", meaning the unwillingness to accept pay cuts, kept labor markets permanently out of equilibrium.

It's worth pondering whether oil prices are "sticky" as well. Saying yes is saying the law of supply and demand doesn't apply (in the short term). This year we have seen that both OPEC's politicking and panicky traders can cause wild swings in price unrelated to supply and demand.

Where market theory is vague is the shape of the demand curve. For example, if oil supply can't meet demand in the near future, as some here have posited, how high will prices go? Some claim it will go over $200, as people get desperate for it. Some claim that higher prices would increase efforts to find and drill more, putting a lid on prices. Some claim the shortage would crash the world economy, depressing prices. Some claim that faced with oil shortages, the world would simply switch to EVs, or stop wasting the gunk on poorly designed transportation systems, so prices would stay more or less the same.

Who is right? Nobody knows. So we don't know the shape of the demand curve. The theory is hopelessly vague.

Schinzy , says: 08/16/2020 AT 12:25 PM

Good points. For all these reasons it is not surprising that the journalist Robert Samuelson noted last year that frequently economists don't know what they're talking about: https://www.washingtonpost.com/opinions/economists-often-dont-know-what-theyre-talking-about/2019/05/12/f91517d4-7338-11e9-9eb4-0828f5389013_story.html?noredirect=on&utm_term=.dc651d463df7 .

Han Neumann , says: 08/17/2020 AT 8:25 PM

I have argued for several years that peak oil is a low price phenomenon, not a high priced phenomenon.

Schinzy,

The price of crude oil is only part of the Peakoil phenomenon.

How much is left in the ground counts, however more important is at which velocity the remaining Gb can be extracted. I am not a geologist, but common sense says that when an oilfield is well depleted (50-70%) the most of the remaining barrels will be extracted at a much lower speed, even at very high oilprices.

With secondary and tertiary EOR technology most conventional oilfields will not produce the same or close to the same amount of barrels/day as before for many more years. That's also my conclusion from what I have read more than a decade ago.

Of course with high oilprices new, relatively small, oil fields will come online and (more advanced) EOR will start in other fields, but no matter how you look at it: depletion never stops.

With most oilfields in the world past-peak, only a tremendous amount of money (needed to develop EOR) can prevent world crude oil production from falling like a rock. And all those EOR technologies will deplete oilfields faster.

Big gains in the beginning, more disappointments later.
Will there be significant amount of shale oil developed in the future in other countries than the U.S. ? If so, is that wise, regarding an already existing runaway climate change ?

[Aug 23, 2020] A Love Letter To The Fed From The Adoring Stock Market -

Aug 23, 2020 | www.zerohedge.com

Authored by Michael Regan via Bloomberg (emphasis ours),

Dear Fed,

Hey there! It's me, the stock market. I know it's weird to write you like this, but I felt like I needed to drop a quick thank-you note for everything you've done for me this year. I mean, your big ol' balance sheet is almost $3 trillion larger since early March! You're backing up the truck and loading it with Treasuries and corporate bonds and bond ETFs, all to keep the competition to stocks from fixed-income yields as limited as Jim Cramer's understanding of me. It's been a dream come true, honestly. I mean, fess up: Have you been reading my diary?!

... ... ...

So please do me a solid and keep this thank-you note in mind when you host your virtual Jackson Hole summit. No cowboy stuff, OK? If I hear anybody mutter something about "irrational exuberance," I swear I'm gonna blow my top and hurt a few of these Robinhood types, you got that? The Lord giveth, and the Lord taketh away. It's what I do -- and I'm good at it! But right now, this is still a lot of fun for me...

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890

...  and when I do end up burning folks, do you really want to be the one who gets thrown under the bus?

I mean, you know you're going to catch all the blame, right?

NEVER MISS THE NEWS THAT MATTERS MOST

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C'mon, Fed. We both know you're smarter than that. What's another few trillion?

With sincere and deepest gratitude,

The Stock Market

[Aug 22, 2020] Looks like Milton Freedman is now a dirty word in the USA

Aug 22, 2020 | www.unz.com

Franz , says: August 21, 2020 at 7:25 am GMT

@ThreeCranes trol -- China had already agreed to play ball, but was still gathering the infrastructure. S. Korea and a few other nations took the work in the meantime.

Meantime, as Sam Francis (RIP) noted in the early nineties, Main Street USA turned into dollar stores and flea markets and retail dumps and fast food pits.

Yes, nations that make things control the future. They also develop consumer economies. Thus in a few more years stuff made in China be beyond the price range of the average American.

Milton and Chile: https://www.theguardian.com/commentisfree/cifamerica/2010/mar/03/chile-earthquake

[Aug 21, 2020] Signs of decay of the USA

Aug 21, 2020 | angrybearblog.com

Run75441
August 20, 2020 6:12 am

Yes you have a point. Some level of inequality is unavoidable and increase the we observe is partially due to the fact that late 40th and 50th were such an anomaly. The question is at what level inequality becomes a kind of cancer that negatively affect the whole society.

In the meantime I found an interesting comment from the Moon of Alabama:
https://www.moonofalabama.org/2020/08/steve-bannon-former-senior-advisor-arrested-for-defrauding-trump-voters.html?cid=6a00d8341c640e53ef0263e95e207b200b#comment-6a00d8341c640e53ef0263e95e207b200b

In the meantime happening live in the USA but hardly on this blog

https://www.popsci.com/story/environment/why-us-lose-power-storms/
US has more power outages than any other !!! developed country. Our grid is outdated and rundown, but utilities aren't willing to do much about it oops (Generator-Industries bribes, lol ??!!)

AP-NORC poll: Nearly half say job lost to virus won't return
https://apnews.com/ba6ea32e7a5ee4b79c7aed945e4d25b7
Millions(not exaggerated) will fear eviction !!!!!
Mortgage Delinquencies Spike in the Second Quarter of 2020
https://www.mba.org/2020-press-releases/august/mortgage-delinquencies-spike-in-the-second-quarter-of-2020
Evidence of the on-going "Dining-Disaster"
300 Pizza Huts are closing after a giant franchisee goes bankrupt
https://www.marketplace.org/2020/08/18/pizza-hut-close-300-locations-bankruptcy/

Big City Blues -- For Example: New York
New York Times had reported that 420,000 New Yorkers had moved out of the city between March 1st and May 1st.
https://www.nytimes.com/interactive/2020/05/15/upshot/who-left-new-york-coronavirus.html
According to Schmierblatt(German) aka tabloid DailyMail
>>Our community is terrified, angry and frightened': Upper West Side residents fury as homeless junkies and sex offenders are moved into three luxury hotels and turn the area into a spectacle of public urination, cat-calling and brazen drug use.
>>The sanitation budget was cut by more than 100 !!!!!! million dollars, and at this point giant mountains of trash are starting to pile up around the city.
https://www.dailymail.co.uk/news/article-8603433/Upper-West-residents-fury-homeless-junkies-sex-offenders-moved-luxury-hotels.html

NYC crime spree knocks on the doorsteps of America's ultra-rich
https://www.foxnews.com/us/nyc-crime-spree-americas-ultra-rich-robbery
New York City's Upper East Side is seeing a 'significant uptick' in robberies, police say
>>Homelessness and poverty are both exploding, and crime rates are shooting into the stratosphere.
>>The number of shootings in July was 177 percent higher than for the same month last year.
>>Governor Andrew Cuomo lamented that this mass exodus is hitting tax revenues really hard.

"Look at everything. Everything's boarded up. Even the hotel. Boarded up," the video's narrator, who is obviously fed up with how the city looks, says."Post-Apocalyptic Manhattan" Video Drive Tour
https://twitter.com/tadgermania/status/1291717913980747776?ref_src=twsrc%5Etfw%
7Ctwcamp%5Etweetembed%7Ctwterm%5E1291717913980747776%7Ctwgr%5E&ref_url=https%
3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Fghost-town-shocking-dystopian-video-nyc-shows-abandoned-and-boarded-5th-avenue

And at last
Nearly half of the U.S.'s homeless people live in one state: California
https://www.marketwatch.com/story/this-state-is-home-to-nearly-half-of-all-people-living-on-the-streets-in-the-us-2019-09-18

Posted by: Ashino | Aug 20 2020 17:00 utc | 10

[Aug 19, 2020] Smash the Oligarchy by JOSIAH LIPPINCOTT

Oligarchy owns the USA political system and tune it to their needs. Proliferation of NGO is one such trick that favor oligarchy.
That kind of influence over expert opinion is immense—and it yields results. In April, Gates called for a nationwide total lockdown for 10 weeks. America didn’t quite sink to that level of draconian control, but the shutdowns we did get absolutely crushed small businesses. Massive tech firms, however, made out like bandits. Microsoft stock is at an all-time high.
Notable quotes:
"... Non-profit activity lets super-elites broker political power tax-free, reshaping the world according to their designs. ..."
"... The American tax code makes all of this possible. It greases the skids for the wealthy to use their fortunes to augment their political power. The 501(c)(3) designation makes all donations, of whatever size, to charitable nonprofits immune from taxation. ..."
"... For the super-wealthy, political power comes tax-free. ..."
"... No one ever elected Bill Gates to anything. His wealth, and not the democratic process, is the only reason he has an outsized voice in shaping coronavirus policy. The man who couldn't keep viruses out of Windows now wants to vaccinate the planet. That isn't an unreasonable goal for a man of his wealth, either. Gates's foundation is the second largest donor to the World Health Organization, providing some 10 percent of its funds . That kind of influence over expert opinion is immense -- and it yields results. In April , Gates called for a nationwide total lockdown for 10 weeks. America didn't quite sink to that level of draconian control, but the shutdowns we did get absolutely crushed small businesses. Massive tech firms, however, made out like bandits. Microsoft stock is at an all-time high . ..."
"... Eliminating the tax exemption for charitable giving would make it simple to heavily tax the capital gains that drive the wealth of America's richest one thousand people. One could also leave the exemption in place for most Americans (those with a net worth under $100 million), while making larger gifts, especially those over a billion dollars, taxable at extremely high rates close to 100%. Bill Gates wants to give a billion dollars to his foundation? Great. But he should pay a steep fee to the American people to purchase that kind of power. ..."
"... There is nothing socialist in these or similar tax proposals. We are not making an abstract commentary on whether having a billion dollars is "moral." These are simply prudential measures to put the people back in charge of their own country. Reining in billionaires and monopolists is a conservative free market strategy. ..."
"... An America governed by Mark Zuckerberg, Bill Gates, Jeff Bezos, and George Soros will be -- arguably, already is -- a disaster for the middle class and everyday Americans. Cracking down on their "selfless" philanthropy, combined with antitrust enforcement and higher progressive tax rates, is a key way for Americans to leverage the power of the ballot box against the power of the banker's vault. ..."
"... The rotting edifice that is the United States is coming down one way or another. Just accept it. ..."
"... I would end tax exempt status for organizations. When everyone pays taxes we all become better stewards of how that money is used. ..."
"... To think both Mr. Dreher and Mr. Van Buren just recently posted about the superwealthy leaving the big cities, citing as the main reasons the Covid thing on the one hand, and "excessively high" income taxes on the other. Most comments that followed were in the line of "that's what happens when you let socialists run things" and "stop giving money to the poor, then they'll work and get rich." And here we have someone proposing more and higher taxes on the wealthy to bust their political nuts. ..."
"... It's an interesting proposal, but it seems that if you're worried about super-elites brokering political power tax-free, you might focus on direct brokering of political power. For example, we could pass a law requiring full disclosure of all sources of funding for any political advertising. ..."
Aug 19, 2020 | www.theamericanconservative.com

Non-profit activity lets super-elites broker political power tax-free, reshaping the world according to their designs.

America's super-wealthy have too much power. A republican regime based on the consent of the governed cannot survive when a few hands control too large a sum of money and too much human capital. A dominion of monopolists spells ruin for the common man.

The Federal Reserve calculates that, at present, America's total household wealth equals $104 trillion . Of that, $3.4 trillion belongs to America's 600 billionaires alone. Put another way, 3% of the nation's wealth belongs to 0.0002% of the population. Those 600 names control twice as much wealth as the least wealthy 170 million Americans combined . This is a problem. Economic power means political power. In an era of mass media, it has never been easier to manufacture public opinion and to manipulate the citizenry.

Look no further than the consensus view of Fortune 500 companies as to the virtues of Black Lives Matter. That movement's incredible cultural reach is, in large part, a function of its cachet among American elites. In 2016, the Ford Foundation began a Black-Led Movement Fund to funnel $100 million into racial and social justice causes. George Soros' Open Society Foundation immediately poured in $33 million in grants.

Soros and company received a massive return on investment. The shift leftward on issues of racial and social justice in the last four years has been nothing short of remarkable. Net public support for BLM , at minus 5 percent in 2018, has surged to plus 28 percent in 2020. The New York Times estimates that some 15 to 26 million Americans participated in recent protests over George Floyd's death.

And the money keeps flowing. In the last three months, hundreds of millions of dollars have poured into social and racial justice causes. Sony Music Group , the NFL , Warner Music Group , and Comcast all have promised gifts in excess of $100 million. MacKenzie Bezos has promised more than a billion dollars to Historically Black Colleges and Universities as well as other racial and social justice organizations. Yet, as scholars like Heather MacDonald have pointed out -- America's justice system is not racist. Disquieting anecdotes and wrenching videos blasted across cyberspace are not the whole of, or even representative of, our reality. But well-heeled media and activism campaigns can change the perception. That's what matters.

The American tax code makes all of this possible. It greases the skids for the wealthy to use their fortunes to augment their political power. The 501(c)(3) designation makes all donations, of whatever size, to charitable nonprofits immune from taxation.

A man can only eat so much filet mignon in one lifetime. He can only drive so many Lamborghinis and vacation in so many French chalets. At a certain point, the longing for material pleasures gives way to a longing for honor and power. What a super-elite really wants is to be remembered for "changing the world." The tax code makes the purchasing of such honors even easier than buying fast cars and luxury homes.

For the super-wealthy, political power comes tax-free.

No one ever elected Bill Gates to anything. His wealth, and not the democratic process, is the only reason he has an outsized voice in shaping coronavirus policy. The man who couldn't keep viruses out of Windows now wants to vaccinate the planet. That isn't an unreasonable goal for a man of his wealth, either. Gates's foundation is the second largest donor to the World Health Organization, providing some 10 percent of its funds . That kind of influence over expert opinion is immense -- and it yields results. In April , Gates called for a nationwide total lockdown for 10 weeks. America didn't quite sink to that level of draconian control, but the shutdowns we did get absolutely crushed small businesses. Massive tech firms, however, made out like bandits. Microsoft stock is at an all-time high .

No one ever voted on those lockdowns, either. Like the mask-wearing mandates, they were instituted by executive fiat. The experts , many of them funded through donations given by tech billionaires like Gates , campaigned for policies that radically altered the basic structure of society. Here lies the danger of billionaire power. Without adequate checks and balances, the super-wealthy can skirt the normal political process, working behind the scenes to make policies that the people never even have a chance to debate or vote on.

A republic cannot be governed this way. America needs to bring its current crop of oligarchs to heel. That starts with constraining their ability to commandeer their massive personal fortunes to shape policy. Technically, the 501(c)(3) designation prevents political activities by tax-exempt charities. Those rules apply only to political campaigning and lobbying, however. They say nothing about funding legal battles or shaping specific policies indirectly through research and grants. America's universities, think tanks, and advocacy organizations are nearly universally considered tax-exempt nonprofits. Only a fool would believe they are not political.

One solution to the nonprofit problem to simply get rid of the charitable exemption all together. If there is no loophole, it can't be exploited by the mega-wealthy. Most Americans' charitable giving wouldn't be affected. The average American gives between $2,000 and $3,000 per year . That is well under the $24,800 standard tax deduction for married couples. Ninety percent of taxpayers have no reason to use a line-item deduction. Such a change likely wouldn't affect wealthy givers either. In 2014 , the average high-income American (defined as making more than $200,000 per year or having a million dollars in assets) gave an average of $68,000 to charity, and in 2018 93 percent said their giving had nothing to do with tax breaks.

Eliminating the tax exemption for charitable giving would make it simple to heavily tax the capital gains that drive the wealth of America's richest one thousand people. One could also leave the exemption in place for most Americans (those with a net worth under $100 million), while making larger gifts, especially those over a billion dollars, taxable at extremely high rates close to 100%. Bill Gates wants to give a billion dollars to his foundation? Great. But he should pay a steep fee to the American people to purchase that kind of power.

There is nothing socialist in these or similar tax proposals. We are not making an abstract commentary on whether having a billion dollars is "moral." These are simply prudential measures to put the people back in charge of their own country. Reining in billionaires and monopolists is a conservative free market strategy.

Incentives to make more money are generally good. The libertarians are mostly right -- people are usually better judges of how to spend and use their resources than the government.

But not always. The libertarian account does not adequately recognize man's political nature. We need law and order. We need a regime where elections matter and the opinions of the people actually shape policy. Contract law, borders, and taxes are all necessary to human flourishing, but all impede the total and unrestricted movement of labor and money. At the very top of the wealth pyramid, concentrated economic power always turns into political power. An economic policy that doesn't recognize that fact will create an untouchable class that controls both the market and the regime. There's nothing freeing about that outcome.

An America governed by Mark Zuckerberg, Bill Gates, Jeff Bezos, and George Soros will be -- arguably, already is -- a disaster for the middle class and everyday Americans. Cracking down on their "selfless" philanthropy, combined with antitrust enforcement and higher progressive tax rates, is a key way for Americans to leverage the power of the ballot box against the power of the banker's vault.

Josiah Lippincott is a former Marine officer and current Master's student at the Van Andel School of Statesmanship at Hillsdale College.


Kent13 hours ago

I'd like to thank the author for actually discussing policy proposals that actually make sense. That's a rarity on TAC. However, he needs to keep a couple of things in mind:

1. You can't just say something isn't socialist on a conservative website. Conservatives have been conditioned for decades to believe that anything the GOP considers to be bad is called by the name "socialism". And taxes are bad. Therefore socialist. To bring any nuance to that word will be devastating to long-term conservative ability to argue points.

2. This proposal won't just hurt the ability of left-leaning tech giants, but also right-leaning oil and defense industry barons. A double-edged sword.

AlexanderHistory X12 hours ago

This is an interesting idea that might have had a shot, big maybe, 50 plus years ago. America is too far gone to fix with political changes, not that you could make any major changes like this in the current political environment.

The rotting edifice that is the United States is coming down one way or another. Just accept it.

joeo12 hours ago

I would end tax exempt status for organizations. When everyone pays taxes we all become better stewards of how that money is used.

bumbershoot joeo10 hours ago

Certainly! Just so long as the word "organizations" encompasses churches as well, I think lots of people on all sides of the political spectrum would agree.

Ted joeo10 hours ago

Starting with the Roman Catholic Church.

YT14 joeo7 hours ago • edited

Complicated argument. Basically, charitable people will always give charity, even from taxed income. However, if people give charity from taxed income, the state can no longer control what the institutions given money do with that money as long as salaries and surplus are taxed.

YT1412 hours ago • edited

Interesting proposal. Removing tax deduction should of course throw IRS out of monitoring charitable giving. So less power to Lois Lerner and colleagues.

Woland11 hours ago

To think both Mr. Dreher and Mr. Van Buren just recently posted about the superwealthy leaving the big cities, citing as the main reasons the Covid thing on the one hand, and "excessively high" income taxes on the other. Most comments that followed were in the line of "that's what happens when you let socialists run things" and "stop giving money to the poor, then they'll work and get rich." And here we have someone proposing more and higher taxes on the wealthy to bust their political nuts.

Note that the author carefully left out any mention of conservative megadonors shaping public policy. Must be the quiet part, to avoid tarring and feathering by his own side.

bumbershoot10 hours ago
Reining in billionaires and monopolists is a conservative free market strategy.

It certainly never has been one before, but we on the left welcome this new appreciation of the perils of growing inequality.

Now all you have to do is convince the entire Republican Party that this isn't "socialism." Good luck!

AdmBenson10 hours ago

Say you like the game of Monopoly so much that you want it to last longer than the few hours it takes for one player to dominate and beat the others. Well, you could replace $200 as you pass Go with progessive taxation on income, assets, or a combination thereof. If you do it right, you can make the game last into perpetuity by ensuring that the dominance of any one player is only temporary.

gnt8 hours ago • edited

It's an interesting proposal, but it seems that if you're worried about super-elites brokering political power tax-free, you might focus on direct brokering of political power. For example, we could pass a law requiring full disclosure of all sources of funding for any political advertising.

If we wanted to be aggressive, we could even pass a constitutional amendment to specify that corporations are not people. It seems odd to worry about the political power exercised by institutions with no direct control over politics, and ignore the institution whose purpose is politics.

Another approach to deal with the direct influence of the super-elite would be to make lobbying expenses no longer tax deductible. I'm sure you could find support for that.

YT14 gnt7 hours ago

You are aware that this way IRS will lose control? Lois Lerner will be able no more to go after conservative non-profits?

Pete Barbeaux4 hours ago

This is the 5th TAC article since May to take something word-for-word from a Bernie Sanders-esque Leftist platform and call it something "Conservatives" want. GTFOOH.

GeorgeMarshall653 hours ago

Mr. Lippincott: That kind of influence over expert opinion is immense -- and it yields results. In April, Gates called for a nationwide total lockdown for 10 weeks. America didn't quite sink to that level of draconian control, but the shutdowns we did get absolutely crushed small businesses. Massive tech firms, however, made out like bandits. Microsoft stock is at an all-time high.

So the argument here is that the experts were not going to call for a lockdown, but Mr. Gates' outsized influence made them do it? The experts weren't going to do it anyway? Did that outsized influence extend to every other country in the world which imposed lockdowns? Was there a secret communique between Mr. Gates and the NBA so they suspended their season in mid-March? In the US, CA, Clark Cty in NV, Illinois, Kansas City, MA, MI, NY, OR, and WI all began lockdowns in March. Around the world, 80 countries began lockdowns in March. No matter what Mr. Gates said, lockdowns were deemed to be appropriate. Plus, Mr. Lippincott admits that Mr. Gates' proposal was not followed. In terms of "massive tech firms making out like bandits" v small businesses, might that have anything to do with their value?

L RNY2 hours ago

I very much agree with this article and I think we need another Teddy Roosevelt Monopoly (oligarchy) buster but much has changed in the 100 years since Teddy Roosevelt was President. The first thing that comes to mind is that the aristocracy was mostly protestant and the business class was mostly domestic with high tariffs keeping foreign competitors out so we could break up these companies without a foreign country purchasing them and possibly creating a national security risk.

Today's aristocracy is much more diverse. Its more Jewish and it has much more minority representation from African Americans, Asians, Hispanics, etc so that creates the first problem in breaking up a monopoly or an oligarchy which would be the accusation of targeting minorities for discrimination. The second problem is that many of the aristocratic class in the US consider themselves global citizens and have dual citizenship. They can live anywhere anytime they choose so if you target them the way say Cuomo and DiBlasio and Newsom do then they will leave. Third problem is our global society particularly the digital / virtual society. If you break that up without safeguards then you will only be inviting foreign ownership then you will have a national security issue and even less influence.

The biggest problem is the NGOs, nonprofits that the rich set up to usurp the government on various issues from immigration to gender identity to politics. These NGO nonprofits arent your harmless community soup kitchen doing good works. The anarchy, arson, looting, rioting in Portland, Seattle, Chicago, NYC, Baltimore these are paid for by NGO nonprofits and they have the money to threaten local government, state government and federal government. Trump was 100% correct when he started to tax college endowments but he didnt go far enough. The tax laws have to be rewritten with a very strict and narrow interpretation of what exactly constitutes the public good and is deserving on non-profit status. If you say education then I will say you are correct but endowments are an investment vehicle under the umbrella of an educational nonprofit. Thats like a nonprofit hospital buying a mutual fund company or a mine or a manufacturing plan and claiming its non-profit. For me its relatively simple unless someone has a some other way. If you look at the non-profit community good...what are the budgets for say hospitals, schools, orphanages, retirement homes, etc. Put monetary limits on nonprofits which can vary depending on industry and the rest is taxed at a high rate. We simply cannot have NGOs (nongovernmental organizations) using a nonprofit status to bring down a country's financial system, over-throwing a country, financing civil strife and civil war, usurping the government on things like immigration, etc.

[Aug 19, 2020] The Devastation Of The Middle Class- It Now Takes 53 Weeks Of Median Wages Every Year To Pay For Basic Needs -

Aug 19, 2020 | www.zerohedge.com

The Devastation Of The Middle Class: It Now Takes 53 Weeks Of Median Wages Every Year To Pay For Basic Needs by Tyler Durden Wed, 08/19/2020 - 13:45 Twitter Facebook Reddit Email Print

The stock market is back to all time highs, but for ordinary Americans the standard of living has not been worse in decades, if ever.

As Bank of America points out, while the recent covid shutdowns has thrown the economy into disarray with millions laid off and living on government stimulus checks, life for the vast majority of workers - i.e., those who comprise the country's middle class - was already precarious before the pandemic, and nowhere is this more evident than in the Cost of Thriving Index.

Consider that in 1985 it took 30 weeks at the median wage to pay for big fixed costs like housing, health care, a car, and education; fast forward to today when it takes a mathematically impossible 53 weeks of a 52-week year to buy those things.

me title=

In other words, as BofA puts it, "'thriving' has become impossible for the average worker" and adds that " it's no wonder that the uncertainty of forecasts for future growth remains near record highs."

Of course, it's also why millions of Americans are desperately looking forward to another stimulus round, and then another, and another after that, for the simple reason that it was the government's "pandemic relief" that boosted compensation to artificial, if "one-time" record highs.

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The question is whether this "one-time" stimulus which many equate with Universal Basic Income, has become a permanent fixture of American life.

[Aug 19, 2020] The US is contending with the two most competent and accomplished world leaders of the 21st century: Xi and Putin

The the USSR convincingly demostred internal rot matter more then external threats. Especially dangerous is the collapse of ideology
Aug 19, 2020 | www.moonofalabama.org
Et Tu , Aug 19 2020 8:07 utc | 16

...Rome fell to a disorganised bunch of heathens from the East. The US is contending with the two most competent and accomplished world leaders of the 21st century: Xi and Putin. Whether it's more of Trump or even if Biden gets in, it is still win-win for China and Russia with whoever gets elected. Johan Galtung's prediction of a 2020 end to the US empire has never felt closer to the mark.

https://www.vice.com/en_us/article/d7ykxx/us-power-will-decline-under-trump-says-futurist-who-predicted-soviet-collapse

[Aug 19, 2020] Democrats are in bed with the deep state, take billions from the largest corporations, and conduct the most undemocratic nominating process ever seen in the US, but thank God they are not fascists!

Highly recommended!
Aug 19, 2020 | www.zerohedge.com

MrBoompi , 3 hours ago

Democrats are in bed with the deep state, take billions from the largest corporations, and conduct the most undemocratic nominating process ever seen in the US, but thank god they are not fascists!

Trezrek500 , 2 hours ago

It is amazing, Bezos becomes the richest guy in the world and the delivery of his packages is subsidized by tax payers. The USPS should triple their rates to AMZN. Problem solved.

[Aug 16, 2020] CIA Behind Guccifer Russiagate A Plausible Scenario

Highly recommended!
Aug 16, 2020 | www.zerohedge.com

If Zerohedge comment reflect general population sentiments this is clear sign of the crisis of legitimacy of neoliberal élite.

Via The Strategic Culture Foundation,

William Binney is the former technical director of the U.S. National Security Agency who worked at the agency for 30 years. He is a respected independent critic of how American intelligence services abuse their powers to illegally spy on private communications of U.S. citizens and around the globe.

Given his expert inside knowledge, it is worth paying attention to what Binney says.

In a media interview this week, he dismissed the so-called Russiagate scandal as a "fabrication" orchestrated by the American Central Intelligence Agency. Many other observers have come to the same conclusion about allegations that Russia interfered in the 2016 U.S. elections with the objective of helping Donald Trump get elected.

But what is particularly valuable about Binney's judgment is that he cites technical analysis disproving the Russiagate narrative. That narrative remains dominant among U.S. intelligence officials, politicians and pundits, especially those affiliated with the Democrat party, as well as large sections of Western media. The premise of the narrative is the allegation that a Russian state-backed cyber operation hacked into the database and emails of the Democrat party back in 2016. The information perceived as damaging to presidential candidate Hillary Clinton was subsequently disseminated to the Wikileaks whistleblower site and other U.S. media outlets.

A mysterious cyber persona known as "Guccifer 2.0" claimed to be the alleged hacker. U.S. intelligence and news media have attributed Guccifer as a front for Russian cyber operations.

Notably, however, the Russian government has always categorically denied any involvement in alleged hacking or other interference in the 2016 U.S. election, or elections thereafter.

William Binney and other independent former U.S. intelligence experts say they can prove the Russiagate narrative is bogus. The proof relies on their forensic analysis of the data released by Guccifer. The analysis of timestamps demonstrates that the download of voluminous data could not have been physically possible based on known standard internet speeds. These independent experts conclude that the data from the Democrat party could not have been hacked, as Guccifer and Russiagaters claim. It could only have been obtained by a leak from inside the party, perhaps by a disgruntled staffer who downloaded the information on to a disc. That is the only feasible way such a huge amount of data could have been released. That means the "Russian hacker" claims are baseless.

Wikileaks, whose founder Julian Assange is currently imprisoned in Britain pending an extradition trial to the U.S. to face espionage charges, has consistently maintained that their source of files was not a hacker, nor did they collude with Russian intelligence. As a matter of principle, Wikileaks does not disclose the identity of its sources, but the organization has indicated it was an insider leak which provided the information on senior Democrat party corruption.

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William Binney says forensic analysis of the files released by Guccifer shows that the mystery hacker deliberately inserted digital "fingerprints" in order to give the impression that the files came from Russian sources. It is known from information later disclosed by former NSA whistleblower Edward Snowden that the CIA has a secretive program – Vault 7 – which is dedicated to false incrimination of cyber attacks to other actors. It seems that the purpose of Guccifer was to create the perception of a connection between Wikileaks and Russian intelligence in order to beef up the Russiagate narrative.

"So that suggested [to] us all the evidence was pointing back to CIA as the originator [of] Guccifer 2.0. And that Guccifer 2.0 was inside CIA I'm pointing to that group as the group that was probably the originator of Guccifer 2.0 and also this fabrication of the entire story of Russiagate," concludes Binney in his interview with Sputnik news outlet.

This is not the first time that the Russiagate yarn has been debunked . But it is crucially important to make Binney's expert views more widely appreciated especially as the U.S. presidential election looms on November 3. As that date approaches, U.S. intelligence and media seem to be intensifying claims about Russian interference and cyber operations. Such wild and unsubstantiated "reports" always refer to the alleged 2016 "hack" of the Democrat party by "Guccifer 2.0" as if it were indisputable evidence of Russian interference and the "original sin" of supposed Kremlin malign activity. The unsubstantiated 2016 "hack" is continually cited as the "precedent" and "provenance" of more recent "reports" that purport to claim Russian interference.

Given the torrent of Russiagate derivatives expected in this U.S. election cycle, which is damaging U.S.-Russia bilateral relations and recklessly winding up geopolitical tensions, it is thus of paramount importance to listen to the conclusions of honorable experts like William Binney.

The American public are being played by their own intelligence agencies and corporate media with covert agendas that are deeply anti-democratic.


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lay_arrow desertboy , 13 hours ago

Well - who set up them up, converted from the OSS? The banksters.

"Wild Bill" Donovan worked for JP Morgan immediately after WWII.

"our" US intelligence agencies were set up by, and serve, the masters of high finance. Is this in dispute?

meditate_vigorously , 11 hours ago

They have seeded enough misinformation that apparently it is. But, you are correct. It is the Banksters.

Isisraelquaeda , 2 hours ago

Israel. The CIA was infiltrated by the Mossad long ago.

SurfingUSA , 15 hours ago

JFK was on to that truth, and would have been wise to mini-nuke Langley before his ill-fated journey to Dallas.

Andrew G , 11 hours ago

Except when there's something exceptionally evil (like pedo/blackmail rings such as Epstein), in which case it's Mossad / Aman

vova.2018 , 7 hours ago

Except when there's something exceptionally evil (like pedo/blackmail rings such as Epstein), in which case it's Mossad / Aman

The CIA & MOSSAD work hand in hand in all their clandestine operations. There is not doubt the CIA/MOSSAD are behind the creation, evolution, training, supplying weapons, logistic-planning & financing of the terrorists & the destruction of the Middle East. Anybody that believes the contrary has brain problems & need to have his head examined.

CIA/MOSAD has been running illegal activities in Colombia: drug, arms, organs & human (child-sex) trafficking. CIA/MOSAD is also giving training, logistic & arms to Colombia paramilitary for clandestine operation against Venezuela. After Bolsonaro became president, MOSSAD started running similar operation in Brazil. Israel & Brazil also recognizes Guaido as the legit president of Venezuela.

​​​​​​CIA/MOSSAD have a long time policy of assassinating & taking out pep who are a problem to the revisionist-zionist agenda, not just in the M-East but in the world. The CIA/MOSSAD organizations have many connections in other countries like the M-East, Saudi Arabia, UAE, et al but also to the UK-MI5.

The Israelis infiltrated the US to the highest levels a long time ago - Proof

  • Israel has & collects information (a database) of US citizens in coordination with the CIA & the 5 eyes.
  • Israel works with the NSA in the liaison-loophole operations
  • Mossad undercover operations in WDC & all over the world
  • The American Israel Public Affairs Committee – AIPAC
  • People with 2 citizenships (US/Israel) in WDC/NYC (the real Power)
  • From Steve Bannon a christian-zionist: Collusion between the Trump administration and Israel .
  • D-Trump, Ivanka Trump & husband Kushner (orthodox Juus)
  • Epstein & Ghislaine Maxwell, members of the MOSSAD ran their entire pedo-honey-pot operation for the CIA/Mossad
  • CIA/MOSSA want to punish Iran for its role in Syria's victory over ISIS (created by CIA/Mossad) - PROOF: McCain Armed ISIS https://www.youtube.com/watch?v=ziNlUuc167E

New book details Israel's secret history of assassinations
https://www.youtube.com/watch?v=ge-mnC2wGss

CIA Assassination Manual Revealed (CIA = Cover action agency)
https://www.youtube.com/watch?v=s3gQfoFCpPs

GreatUncle , 6 hours ago

Well I never expected anything different.

They have a hand in everything and probably the murder of JFK.

Hell the CIA have even had their own president.

They are supposed to be commanded by the president but personally I think they are a rogue operation controlled by somebody else.

Lyman54 , 16 hours ago

Millie Weavers documentary explains everything quite well. https://www.youtube.com/watch?v=9HFxVvrXjCg

sborovay07 , 15 hours ago

Funny how a number of the right wing conspiracy stories according to the MSM from a couple years back were true from the get go. 1 indictment over 4 years in the greatest attempted coup in this country's history. So sad that Binney and Assange were never listened to. They can try to silence us who know of the truth, but as Winston Churchill once said, 'Truth is incontrovertible. Panic may resent it. Ignorance may deride it. Malice may distort it. But there it is.' KDP still censors my book on their advertising platform as it promotes conspiratorial theories (about the Obama led coup) and calls out BLM and Antifa for what they are (marxists) . Yet the same platform still recommends BLM books stating there is a pandemic of cops killing innocent blacks. F them!!!! #RIPSeth #FreeJulian #FreeMillie

smacker , 11 hours ago

Yes, and we all know the name of the DNC leaker who downloaded and provided WikiLeaks
with evidence of CIA and DNC corruption.
He was assassinated to prevent him from naming who Guccifer 2.0 was and where he is located.

The Russia-gate farce itself provides solid evidence that the CIA and others are in bed with DNC
and went to extraordinary lengths to prevent Trump being elected. When that failed, they instigated
a program of x-gates to get him out of office any way they could. This continues to this day.

This is treason at the highest level.

ACMeCorporations , 12 hours ago

Hacking? What Russian hacking?

In recently released testimony, the CEO of CrowdStrike admitted in congressional testimony, under oath, that it actually has no direct evidence Russia stole the DNC emails.

Nelbev , 9 hours ago

"The proof relies on their forensic analysis of the data released by Guccifer. The analysis of timestamps demonstrates that the download of voluminous data could not have been physically possible based on known standard internet speeds. ... a disgruntled staffer who downloaded the information on to a disc. That is the only feasible way such a huge amount of data could have been released. ... William Binney says forensic analysis of the files released by Guccifer shows that the mystery hacker deliberately inserted digital "fingerprints" in order to give the impression that the files came from Russian sources. ... "

Any computer file is a bunch of 1s and 0s. Anyone can change anything with a hex editor. E.g. I had wrong dates on some photographs once, downloaded as opposed to when taken, just edited the time stamp. You cannot claim any time stamp is original. If true time stamps, then the DNC files were downloaded to a thumb drive at a computer on location and not to the internet via a phone line. However anyone can change the time stamps. Stating a "mystery hacker deliberately inserted digital [Russian] 'fingerprints' " is a joke if denying the file time stamps were not tampered with. The real thing is where the narrative came from, political spin doctors, Perkins Coie law firm hired by DNC and Hillary campaign who hired Crowdstrike [and also hired Fusion GPS before for pissgate dossier propaganda and FISC warrants to spy on political opponents] and Perkins Coie edited Crowdstrike report with Russian narrative. FBI never looked at DNC servers. This is like your house was broken into. You deny police the ability to enter and look at evidence like DNC computers. You hire a private investigator to say your neighbor you do not like did it and publicise accusations. Take word of political consultants hired, spin doctor propaganda, Crowdstrike narrative , no police investigation. Atlantic Council?

Vivekwhu , 8 hours ago

The Atlantic Council is another NATO fart. Nuff said!

The_American , 15 hours ago

God Damn traitor Obama!

Yen Cross , 14 hours ago

TOTUS

For the youngsters.

Teleprompter Of The United States.

Leguran , 6 hours ago

The CIA has gotten away with so much criminal behavior and crimes against the American public that this is totally believable. Congress just lets this stuff happen and does nothing. Which is worse - Congress or the CIA?

Congress set up the system. It is mandated to perform oversight. And it just sits on its thumbs and wallows in it privileges.

This time Congress went further than ever before. It was behind and engaged in an attempted coup d'état.

Know thy enemy , 10 hours ago

Link to ShadowGate (ShadowNet) documentary - which answers the question, what is the keystone,,,,,

https://www.pscp.tv/Tore_says/1RDGlrYynRgxL

"Comey here, and Holder, while I get a rope for Lynch, and don't forget Brennan."

Kudo's to Millie

DontHateMeBecauseImABureaucrat , 9 hours ago

Neither google nor Apple will open the link. Or it's not there.

bringonthebigone , 8 hours ago

currently it is up here: https://www.youtube.com/watch?v=9HFxVvrXjCg

I Claudius , 5 hours ago

It's time for Assange and Wikileaks to name the person who they rec'd the info from. By hiding behind the "we don't name names" Mantra they are helping destroy America by polarizing its citizens. Name the damn person, get it all out there so the left can see that they've been played by their leaders. Let's cut this crap.

freedommusic , 7 hours ago

...all the evidence was pointing back to CIA as the originator [of] Guccifer 2.0.

Yep, I knew since day one. I remember seeing Hillary Clinton talking about Guccifer . As soon as uttered the name, I KNEW she with the CIA were the brainchild of this bogus decoy.

They copy. They mimic. These are NOT creative individuals.

Perhaps hell is too good a place for them.

on target , 4 hours ago

This is old news but worth bringing up again. The CIA never wanted Trump in, and of course, they want him out. Their fingerprints were all over Russiagate, The Kavanaugh hearings, Ukrainegate, and on and on. They are just trying to cover their asses for a string of illegal "irregularities" in their operations for years. Trump should never have tried to be a get along type of guy. He should have purged the entire leadership of the CIA on day one and the FBI on day 2. They can not be trusted with an "America First" agenda. They are all New World Order types who know whats best for everyone.

fersur , 7 hours ago

Boom, Boom, Boom !

Three Reseachable Tweets thru Facebook, I cut all at once, Unedited !

"#SusanRice has as much trouble with her memory as #HillaryClinton. Rice testified in writing that she 'does not recall' who gave her key #Benghazi talking points she used on TV, 'does not recall' being in any meetings regarding Benghazi in five days following the attack, and 'does not recall' communicating with anyone in Clinton's office about Benghazi," Tom Fitton in Breitbart.

"Adam Schiff secretly subpoenaed, without court authorization, the phone records of Rudy Giuliani and then published the phone records of innocent Americans, including @realDonaldTrump 's lawyers, a member of Congress, and a journalist," @TomFitton .

BREAKING: Judicial Watch announced today that former #Obama National Security Advisor and U.S. Ambassador to the United Nations, Susan Rice, admitted in written responses given under oath that she emailed with former Secretary of State Hillary Clinton on Clinton's non-government email account and that she received emails related to government business on her own personal email account.

STONEHILLADY , 7 hours ago

It's not just the Democrats, the warmongering neocons of the Republican party are also in on it, the Bush/Romney McCain/McConnell/Cheney and many more. It's called "Kick Backs" Ever notice these so called retired Generals all end up working for all these spying companies that span the 5eyes to Israel. It seems our POTUS has got his hands full swimming up stream to get this stopped and actually get rid of the CIA. It's the number 1 reason he doesn't trust these people, they all try to tell him stuff that is mis-directed.

Liars, leakers, and thieves are running not only our nation but the world, as George Carlin said, "It's a Big Club, and we ain't in it." If you fall for this false narrative of mail in voting and not actually go and vote on election day, you better start learning Chinese for surely Peelosi and Schumer will have their way and mess up this election so they can drag Trump out of office and possible do him and his family some serious harm, all because so many of you listen to the MSM and don't research their phony claims.

Max21c , 7 hours ago

It's called "Kick Backs" Ever notice these so called retired Generals all end up working for all these spying companies that span the 5eyes to Israel.

American Generals & Admirals are a lot more corrupt today than they were a few generations back. Many of them are outright evil people in today's times. Many of these people are just criminals that will steal anything they can get their banana republic klepto-paws on. They're nothing but common criminals and thieves. No different than the Waffen SS or any other group of brigands, bandits, and criminal gangsters.

Max21c , 7 hours ago

The CIA, FBI, NSA, Military Intelligence, Pentagon Gestapo, defense contractors are mixed up in a lot of crimes and criminal activities on American soil against American citizens and American civilians. They do not recognize borders or laws or rights of liberty or property rights or ownership or intellectual property. They're all thieves and criminals in the military secret police and secret police gangsters cabal.

BandGap , 7 hours ago

I have seen Binney's input. He is correct in my view because he scientifically/mathematically proves his point.

The blinded masses do not care about this approach, just like wearing masks.

The truth is too difficult for many to fit into their understanding of the world.

So they repeat what they have been told, never stopping to consider the facts or how circumstances have been manipulated.

It is frustrating to watch, difficult to navigate at times for me. Good people who will not stop and think of what the facts show them.

otschelnik , 8 hours ago

It could have been the CIA or it could have been one of the cut-outs for plausible deniability, and of all the usual suspects it was probably CrowdStrike.

- CGI / Global Strategy Group / Analysis Corp. - John Brennan (former CEO)

- Dynology, Wikistrat - General James L. Jones (former chairman of Atlantic Council, NSA under Obama)

- CrowdStrike - Dmitri Alperovich and Shawn Henry (former chief of cyber forensics FBI)

- Clearforce - Michael Hayden (former dir. NSA under Clinton, CIA under Bush) and Jim Jones Jr. (son Gnrl James Jones)

- McChrystal Group - Stanley McChrystal (former chief of special operations DOD)

fersur , 8 hours ago

Unedited !

The Brookings Institute – a Deep State Hub Connected to the Fake Russia Collusion and Ukraine Scandals Is Now Also Connected to China Spying In the US

The Brookings Institute was heavily involved in the Democrat and Deep State Russia collusion hoax and Ukraine impeachment fraud. These actions against President Trump were criminal.

This institute is influenced from foreign donations from entities who don't have an America first agenda. New reports connect the Institute to Chinese spying.

As we reported previously, Julie Kelly at American Greatness released a report where she addresses the connections between the Brookings Institute, Democrats and foreign entities. She summarized her report as follows: Accepting millions from a state sponsor of terrorism, foisting one of the biggest frauds in history on the American people, and acting as a laundering agent of sorts for Democratic political contributions disguised as policy grants isn't a good look for such an esteemed institution. One would be hard-pressed to name a more influential think tank than the Brookings Institution. The Washington, D.C.-based nonprofit routinely ranks at the top of the list of the best think tanks in the world; Brookings scholars produce a steady flow of reports, symposiums, and news releases that sway the conversation on any number of issues ranging from domestic and economic policy to foreign affairs.

​​ Brookings is home to lots of Beltway power players: Ben Bernanke and Janet Yellen, former chairmen of the Federal Reserve, are Brookings fellows. Top officials from both Republican and Democrat presidential administrations lend political heft to the organization. From 2002 until 2017, the organization's president was Strobe Talbott. He's a longtime BFF of Bill Clinton; they met in the 1970s at Oxford University and have been tight ever since. Talbott was a top aide to both President Bill Clinton and Secretary of State Hillary Clinton.

Kelly continued:

Brookings-based fellows working at Lawfare were the media's go-to legal "experts" to legitimize the concocted crime; the outlet manipulated much of the news coverage on collusion by pumping out primers and guidance on how to report collusion events from Special Counsel Robert Mueller's appointment to his final report.

Now, testimony related to a defamation lawsuit against Christopher Steele, the author of the infamous "dossier" on Donald Trump, has exposed his direct ties to Talbott in 2016 when he was still head of Brookings. Talbott and Steele were in communication before and after the presidential election; Steele wanted Talbott to circulate the dossier to his pals in John Kerry's State Department, which reportedly is what Talbott did . Steele also briefed top state department officials in October 2016 about his work.

But this isn't the only connection between the Brookings Institute and the Russia collusion and Ukrainian scandals. We were the first to report that the Primary Sub-Source (PSS) in the Steele report, the main individual who supplied Steele with bogus information in his report was Igor Danchenko.

In November 2019, the star witness for the Democrat Representative Adam Schiff's impeachment show trial was announced. Her name was Fiona Hill.

Today we've uncovered that Hill is a close associate of the Primary Sub-Source (PSS) for the Steele dossier – Igor Danchenko – the individual behind most all the lies in the Steele dossier. No wonder Hill saw the Steele dossier before it was released. Her associate created it.

Both Fiona Hill and Igor Danchenko are connected to the Brookings Institute.

They gave a presentation together as Brookings Institute representatives:

Kelly writes about the foreign funding the Brookings Institute partakes:

So who and what have been funding the anti-Trump political operation at Brookings over the past few years? The think tank's top benefactors are a predictable mix of family foundations, Fortune 100 corporations, and Big Tech billionaires. But one of the biggest contributors to Brookings' $100 million-plus annual budget is the Embassy of Qatar. According to financial reports, Qatar has donated more than $22 million to the think tank since 2004. In fact, Brookings operates a satellite center in Doha, the capital of Qatar. The wealthy Middle Eastern oil producer spends billions on American institutions such as universities and other think tanks.

Qatar also is a top state sponsor of terrorism, pouring billions into Hamas, al-Qaeda, and the Muslim Brotherhood, to name a few. "The nation of Qatar, unfortunately, has historically been a funder of terrorism at a very high level," President Trump said in 2017. "We have to stop the funding of terrorism."

An email from a Qatari official, obtained by WikiLeaks, said the Brookings Institution was as important to the country as "an aircraft carrier."

Yesterday the Brookings Institute was connected to spying by Communist China in a post at the Washington Free Beacon :

Part 1 of 2

fersur , 8 hours ago

Part 2 of 2 !

The Brookings Institution, a prominent Washington, D.C., think tank, partnered with a Shanghai policy center that the FBI has described as a front for China's intelligence and spy recruitment operations, according to public records and federal court documents.

The Brookings Doha Center, the think tank's hub in Qatar, signed a memorandum of understanding with the Shanghai Academy of Social Sciences in January 2018, the institution said . The academy is a policy center funded by the Shanghai municipal government that has raised flags within the FBI.

The partnership raises questions about potential Chinese espionage activities at the think tank, which employs numerous former government officials and nearly two dozen current foreign policy advisers to Joe Biden's presidential campaign.

It is really frightening that one of two major political parties in the US is tied so closely with the Brookings Institute. It is even more frightening that foreign enemies of the United States are connected to this entity as well.

Let it Go , 8 hours ago

One thing for sure is these guys have far to much of our money to spend promoting their own good.

fersur , 7 hours ago

Unedited !

Mueller Indictments Tied To "ShadowNet," Former Obama National Security Advisor and Obama's CIA Director – Not Trump

By Patrick Bergy, Cyber-Security, Veteran & Former DoD Contractor

December 18th, 2018

According to a report in the Daily Beast, which cited the Wall Street Journal's reporting of Special Counsel Robert Mueller's investigation into two companies, Wikistrat and Psy Group, "The firm's advisory council lists former CIA and National Security Agency director Michael Hayden, former national security adviser James L. Jones."

According to numerous reporting from major news outlets like the Wall Street Journal and Daily Beast, both Wikistrat and Psy Group represent themselves as being social media analysts and black PSYOP organizations. Both Wikistrat and Psy Group have foreign ownership mixed between Israeli, Saudi (Middle East) and Russian. Here is what the Wall Street Journal, The Daily Beast and pretty much everyone else out there doesn't know (or won't tell you).

The fact Obama's former National Security Advisor, General James Jones, and former Obama CIA director, Gen. Michael Hayden, are both on Wikistrat's advisory board may not seem suspicious, but both of these general's have another thing in common, and that is the ShadowNet. The ShadowNet, and its optional companion relational database, iPsy, were both originally developed by the small, family owned defense contracting company, Dynology. The family that owns Dynology; Gen. James Jones. I would add Paul Manafort and Rick Davis was Dynology's partner at the time we were making the ShadowNet and iPsy commercially available.

After obtaining the contract in Iraq to develop social media psychological warfare capabilities, known in military nomenclature as Interactive Internet Activities, or IIA, Gen. Jones kept the taxpayer funded application we developed in Iraq for the 4th Psychological Operation Group, and made it commercially available under the trademark of the "ShadowNet" and the optional black PSYOP component, "iPsy." If you think it is interesting that one of the companies under Mueller's indictment is named, "Psy" Group, I did as well. In fact, literally everything both publicly described in news reports, and even their websites, are exactly the same as the ShadowNet and iPsy I helped build, and literally named.

The only thing different I saw as far as services offered by Wikistrat, and that of Dynology and the ShadowNet, was described by The Daily Beast as, "It also engaged in intelligence collection." Although iPsy was a relational database that allowed for the dissemination of whatever the required narrative was, "intelligence collection" struck another bell with me, and that's a company named ClearForce.

ClearForce was developed as a solution to stopping classified leaks following the Edward Snowden debacle in 2013. Changes in NISPOM compliance requirements forced companies and government agencies that had employees with government clearances to take preventive measure to mitigate the potential of leaking. Although the NISPOM compliance requirement almost certainly would have been influenced by either Hayden, Jones or both, they once again sought to profit from it.

Using components of the ShadowNet and iPsy, the ClearForce application (which the company, ClearForce, was named after,) was developed to provide compliance to a regulation I strongly suspect you will find Jones and Hayden had a hand in creating. In fact, I strongly suspect you will find General Jones had some influence in the original requirement for our Iraq contract Dynology won to build the ShadowNet – at taxpayer expense! Dynology worked for several years incorporating other collection sources, such as financial, law enforcement and foreign travel, and ties them all into your social media activity. Their relationship with Facebook and other social media giants would have been nice questions for congress to have asked them when they testified.

Part 1 of 2 !

fersur , 7 hours ago

Part 2 of 2 !

The ClearForce application combines all of these sources together in real-time and uses artificial intelligence to predictively determine if you are likely to steal or leak based on the behavioral profile ClearForce creates of you. It can be used to determine if you get a job, and even if you lose a job because a computer read your social media, credit and other sources to determine you were likely to commit a crime. It's important for you to stop for a moment and think about the fact it is privately controlled by the former CIA director and Obama's National Security Advisor/NATO Supreme Allied Commander, should scare the heck out of you.

When the ClearForce application was complete, Dynology handed it off to ClearForce, the new company, and Michael Hayden joined the board of directors along with Gen. Jones and his son, Jim, as the president of ClearForce. Doesn't that kind of sound like "intelligence collection" described by the Daily Beast in Wikistrat's services?

To wrap this all up, Paul Manafort, Rick Davis, George Nader, Wikistrat and Psy Group are all directly connected to Mueller's social media influence and election interreference in the 2016 presidential election. In fact, I believe all are under indictment, computers seized, some already sentenced. All of these people under indictment by Mueller have one key thing in common, General James Jones's and Michael Hayden's social media black PSYOP tools; the ShadowNet, iPsy and ClearForce.

A recent meeting I had with Congressman Gus Bilirakis' chief of staff, Elizabeth Hittos, is confirmation that they are reviewing my DoD memorandum stating the work I did on the IIA information operation in Iraq, the Dynology marketing slicks for the ShadowNet and iPsy, along with a screenshot of Goggle's Way-Back Machine showing Paul Manafort's partnership with Dynology in 2007 and later. After presenting to her these facts and making clear I have much more information that requires the highest classification SCIF to discuss and requires being read-on to the program, Elizabeth contacted the office of Congressman Devin Nunez to request that I brief the intelligence committee on this critical information pertaining directly to the 2010 Ukrainian elections, Michael Brown riots, 2016 election interference and the "Russia collusion" hoax. All of that is on top of numerous questionable ethical and potentially illegal profits from DoD contracts while servings as NATO Commander and Obama's National Security Advisor.

We also need to know if the ShadowNet and iPsy were allowed to fall into foreign hands, including Russia, Saudi Arabia and Israel. I'm pretty sure South America is going to have a few questions for Jones and Obama as well? Stay tuned!

Balance-Sheet , 4 hours ago

Intelligence Agencies of all countries endlessly wage war at all times especially 'Information Warfare' (propaganda/disinformation) and the primary target has always and will always be the domestic population of the Intelligence Agency's country.

Yes, of course the CIA does target ALL other countries but the primary target will always be the Americans themselves.

Balance-Sheet , 4 hours ago

Intelligence Agencies of all countries endlessly wage war at all times especially 'Information Warfare' (propaganda/disinformation) and the primary target has always and will always be the domestic population of the Intelligence Agency's country.

Yes, of course the CIA does target ALL other countries but the primary target will always be the Americans themselves.

Paralentor , 5 hours ago

A lot more detail can be found here:

https://banned.video/watch?id=5f37fcc2df77c4044ee2eb03

SHADOW GATE – FULL FILM

462,864 views

yerfej , 8 hours ago

The neoliberals own the media, courts, academia, and BUREAUCRACY (including CIA) and they will do anything to make sure they retain power over everyone. These control freaks work hard to create all sorts of enemies to justify their existence.

LaugherNYC , 15 hours ago

It is sad that this information has to be repeatedly published, over and over and over, by SCI and other Russian. outlets.

Because no legit AMERICAN news outlet will give Binney or Assange the time of day or any credence, this all becomes Kremlin-sponsored disinformation and denials. People roll their eyes and say "Oh God, not the whole 'Seth Rich was murdered by the CIA' crap again!! You know, his FAMILY has asked that people stop spreading these conspiracy theories and lies."

SCI is a garbage bin, nothing more than a dizinformatz machine for Putin, but in this case, they are likely right. It seems preposterous that the "best hackers in the world" would forget to use a VPN or leave a signature behind, and it makes far more sense that the emails were leaked by someone irate at the abuses of the DNC - the squashing of Bernie, the cheating for Hillary in the debates - behavior we saw repeated in 2020 with Bernie shoved aside again for the pathetic Biden.

Would that SOMEONE in the US who is not on the Kremlin payroll would pick up this thread. But all the "investigative journalists" now work indirectly for the DNC, and those that don't are cancelled by the left.

Stone_d_agehurler , 15 hours ago

I am Guccifer and I approve this message.

Sarc/

But i do share your opinion. They are likely right this time and most of the pundits and media in the U. S. know it. That's what makes this a sad story about how rotten the U. S. system has become.

Democrats will sacrifice the Union for getting Trump out of office.

If elections in Nov won't go their way, Civil War II might become a real thing in 2021.

PeterLong , 4 hours ago

If " digital "fingerprints" in order to give the impression that the files came from Russian sources" were inserted in the leak by "Guccifer", and if the leak to wikileaks came from Seth Rich, via whatever avenue, then the "Guccifer" release came after the wikileaks release, or after wikileaks had the files, and was a reaction to same attempting to diminish their importance/accuracy and cast doubt on Trump. Could CIA and/or DNC have known the files were obtained by wikileaks before wikileaks actually released them? In any case collusion of CIA with DNC seems to be a given.

RightlyIndignent , 4 hours ago

Because Seth had already given it to Wikileaks. There is no 'Fancy Bear'. There is no 'Cozy Bear'. Those were made up by CrowdStrike, and they tried the same crap on Ukraine, and Ukraine told them to pound sand. When push came to shove, and CrowdStrike was forced to say what they really had under oath, they said: "We have nothing."

novictim , 4 hours ago

You are leaving out Crowd Strike. Seth Rich was tasked by people at the DNC to copy data off the servers. He made a backup copy and gave a copy to people who then got it to Wiki leaks. He used highspeed file transfers to local drives to do his task.

Meanwhile, it was the Ukrainian company Crowd Strike that claimed the data was stolen over the internet and that the thieves were in Russia. That 'proof" was never verified by US Intelligence but was taken on its word as being true despite crowd strike falsifying Russian hacks and being caught for it in the past.

Joebloinvestor , 5 hours ago

The "five eyes" are convinced they run the world and try to.

That is what Brennan counted on for these agencies to help get President Trump.

As I said, it is time for the UK and the US to have a serious conversation about their current and ex-spies being involved in US elections.

Southern_Boy , 5 hours ago

It wasn't the CIA. It was John Brennan and Clapper. The CIA, NSA FBI, DOJ and the Ukrainian Intelligence Service just went along working together and followed orders from Brennan who got them from Hillary and Obama.

Oh, and don't forget the GOP Globalist RINOs who also participated in the coup attempt: McCain, Romney, Kasich, Boehner, Lee and Richard Burr.

With Kasich now performing as a puppy dog for Biden at the Democrat Convention as a Democrat DNC executive, the re-alignment is almost complete: Globalist Nationalist Socialist Bolshevism versus American Populism, i.e. Elites versus Deplorables or Academics versus Smelly Wal-Mart people.

on target , 5 hours ago

No way. CIA up to their eyeballs in this as well as the State Department. Impossible for Russiagate or Ukrainegate without direct CIA and State involvement.

RightlyIndignent , 4 hours ago

Following Orders? How did that argument go at Nuremberg? (hint: not very well)

LeadPipeDreams , 6 hours ago

LOL - the CIA's main mission - despite their "official" charter, has always been to destabilize the US and its citizens via psyops, false flags, etc.

Covid-1984 is their latest and it appears most successful project yet.

Iconoclast27 , 5 hours ago

The CIA received a $200 million initial investment from the Rockefeller and Carnegie foundations when it was first established, that should tell you everything you need to know how who they truly work for.

A_Huxley , 6 hours ago

CIA, MI6, 5 eye nations.

All wanted to sway the USA their own way.

Let it Go , 8 hours ago

Almost as frightening as the concentrated power held by companies such as Facebook and Google is the fact Jeff Bezos, CEO of Amazon and the world's richest man, is the person who owns and controls the Washington Post. It is silly to think Jeff Bezos purchased the Washington Post in 2013 because he expected newspapers to make a lucrative resurgence.

It is more likely he purchased the long-trusted U.S. newspaper for the power it would ensure him in Washington when wielded as a propaganda mouthpiece to extend his ability to both shape and control public opinion. More on this subject in the article below.

https://Amazon, Jeff Bezos, And The Influential Washington Post_31.html

avoiceofliberty , 16 hours ago

The amazing thing about Binney's forensic analysis is that it has been around since 2018 .

It's also been clear since 2017 the hack of the DNC computers didn't hold up under scrutiny .

How it is the Democrats, the Deep State, and the legacy media are still able to cling to the remnants of these long discredited narratives is a mystery.

avoiceofliberty , 6 hours ago

At the official level, you have a point.

However, even before Mueller was appointed, a review of the materials in the extant public record of both the DNC "hack" and the history of Crowdstrike showed the narrative simply did not make sense. A detailed investigation of materials not made public was not necessary to shoot down the entire narrative.

Indeed, one of the great scandals of the Mueller probe is the way it did not bring prudential skepticism to the question of the DNC "hack". When building a case, either for public debate or for public trial, a dose of skepticism is healthy; it leads to a careful vetting of facts and reasoning.

Alice-the-dog , 6 hours ago

The CIA has been an agency wholly independent of the US government almost since its inception. It is not under any significant control by the government, and has its own agenda which may occasionally coincide with that of the government, but only coincidentally. It has its own view of how the world should look, and will not balk at any means necessary to achieve such. Including the murder of dis-favorable members of government.

snodgrass , 6 hours ago

It's the CIA and the FBI, Obama and people in his administration who cooked up Russiagate.

Floki_Ragnarsson , 7 hours ago

The CIA whacked JFK because he was going to slow the roll to Vietnam AND disband the CIA and reform it.

It is broken and needs to be disbanded and reformed along lines that actually WORK! The CIA missed the fall of the USSR, 9/11, etc. HTF does THAT happen?

DeportThemAll , 6 hours ago

The CIA didn't "miss" 9/11... they participated in it.

Let it Go , 8 hours ago

The CIA is a tool that when improperly used can do great damage.

Anyone who doesn't believe that countries use psychological warfare and propaganda to sway the opinions of people both in and outside of their country should be considered naive. Too many people America is more than a little hypocritical when they criticize other countries for trying to gain influence considering our history of meddling in the affairs of other countries.

Americans have every reason to be concerned and worried considering revelations of just how big the government intelligence agencies have grown since 9-11 and how unlimited their spying and surveillance operations have become. The article below explores this growth and questions whether we have lost control.

http://Psychological Warfare And Propaganda Out Of Control.html

tion , 16 hours ago

The idea of Binney and Jason Sullivan privately working to 'secure the vote' is something that I actually consider to be very eyebrow raising and alarming.

Son of Captain Nemo , 8 hours ago

Bill Binney under "B" in the only "yellow pages" that show a conscience and a soul!...

https://www.ae911truth.org/signatures/#/General/B/williambinneysevernMDUS

fliebinite , 9 hours ago

This is the dumbest article ever. Russiagate is a total fabrication of the FBI as per Clinesmith, CIA provided information that would have nipped it at the bud. Read the real news.

bringonthebigone , 9 hours ago

Wrong. this article is one small piece of the puzzle. Clinesmith is one small piece of the puzzle. The Flynn entrapment is one small piece of the puzzle. The Halper entrapment was one small piece of the puzzle.

Because Clinesmith at the FBI covered up the information saying Page was a CIA source does not mean it was a total FBI fabrication and does not mean the CIA was not involved and does not mean the DNC server hack is irrelevant.

Milley Weaver gets close in her recent video. https://www.youtube.com/watch?v=9HFxVvrXjCg

Sundance does a better job pulling it all together.

PKKA , 14 hours ago

Relations have already soured between Russia and the United States, and sanctions have been announced. Tensions have grown on the NATO-Russia border. The meat has already been rolled into the minced meat and it will not be possible to roll the minced meat back into the meat. The CIA got it. But the Russian people now absolutely understand that the United States will always be the enemy of Russia, no matter whether socialist or capitalist. But I like it even more than the feigned hypocritical "friendship". Russia has never reached such heights as during the good old Cold War. All Russians have a huge incentive, long live the new Cold War!

smacker , 12 hours ago

More and more people have worked out that the fabricated tensions between the US and Russia
and US and China have little to do with those two countries posing any sort of threat to world peace.

It is all about the US trying to remain in No.1 position as uni-polar top dog via the Anglo American Empire.
We see examples of this every day in the M/E, South China Sea, Taiwan, Libya all over Eastern Europe,
Ukraine, Iran and now Belaruse. HK was added along the way.

Both Russia and China openly want a multi-polar world order. But the US will never accept that.

Hence the prospect of war. The only unknown today is what and where the trigger will be.

smacker , 12 hours ago

More and more people have worked out that the fabricated tensions between the US and Russia
and US and China have little to do with those two countries posing any sort of threat to world peace.

It is all about the US trying to remain in No.1 position as uni-polar top dog via the Anglo American Empire.
We see examples of this every day in the M/E, South China Sea, Taiwan, Libya all over Eastern Europe,
Ukraine, Iran and now Belaruse. HK was added along the way.

Both Russia and China openly want a multi-polar world order. But the US will never accept that.

Hence the prospect of war. The only unknown today is what and where the trigger will be.

hang_the_banksters , 31 minutes ago

the best proof thAt Guccifer 2 was CIA hacking themselves to frame Wikileaks is this:

Guccifer has not yet been identified, indicted and arrested.

you'd think CIAFBINSA would be turning over every stone to the ends of the earth to bust Guccifer. we just had to endure 4 years of hysterical propaganda that Russia had hacked our election and that Trump was their secret agent. so Guccifer should be the Most Wanted Man on the planet. meanwhile, it's crickets from FBI. they arent even looking for him. because Guccifer is over at Langley. maybe someone outta ask Brennan where G2 is now.

remember when DOJ indicted all those GRU cybersoldiers? the evidence listed in the indictment was so stunning that i dont believe it. NSA so thoroughly hacked back into GRU that NSA was watching GRU through their own webcams and recording them doing Google searches to translate words which were written in Guccifer's blog posts about the DNC email leaks. NSA and DOJ must think we are all stupid, that we will believe NSA is so powerful to do that, yet they cant identify Guccifer.

i say i dont believe that for a second because no way Russian GRU are so stupid to even have webcams on the computers they use to hack, and it is absurd to think GRU soldiers on a Russian military base would be using Google instead of Yandex to translate words into English.

lay_arrow
ConanTheContrarian1 , 1 hour ago

As a confirmed conspiracy theorist since I came back from 'Nam, here's mine: The European nobility recognized with the American and French revolutions that they needed a better approach. They borrowed from the Tudors (who had to deal with Parliament) and began to rule by controlling the facade of representative government. This was enhanced by funding banks to control through currency, as well as blackmail and murder, and morphed into a complete propaganda machine like no other in history. The CIA, MI6 and Mossad, the mainstream media, deep plants in bureaucracy and "democratic" bodies all obey their dictates to create narratives that control our minds. Trump seems to offer hope, but remember, he could be their latest narrative.

greatdisconformity , 1 hour ago

A Democracy cannot function on a higher level than the general electorate.

The intelligence and education of the general electorate has been sliding for generations, because both political parties can play this to their advantage.

It is no accident that most of the messages coming from politicians are targeted to imbeciles.

[Aug 09, 2020] Previously the USA was considered to be the land of milk and honey where the streets are paved with gold: for billions in the world America was a fairy tale come true, and this was true of the Chinese people as well. In every category it seemed the USA was #1. That gradually changing

Aug 09, 2020 | www.moonofalabama.org

William Gruff , Aug 8 2020 20:48 utc | 23

karlof1 @13

I don't think the Chinese are wrong in that article. The idea that "...US politics have exposed a systemic disconnect with the country's grassroots. The process of readjusting through the general election is full of controversy, crises and will produce profound influences" seems accurate to me. But isn't that just a somewhat clinical way of describing a being turning into a corpse? "Hmm, the brain appears to now be disconnected from the body. It no longer seems to detect trauma occurring in the extremities."

It isn't as if China can do anything for America at this point, but failing to study the pathology of a dying empire would be gross intellectual negligence on their part. Moreover, they do seem to be respectful in their observations. It is not as if they are gloating and rubbing their hands in glee at America's decline.

Basically, I would say China's "new understanding" is more about discarding their previous misconceptions about America. At one time many people in the world looked up to America like it was some sort of nation sized comic book superhero. As the land of milk and honey where the streets are paved with gold, for billions in the world America was a fairy tale come true, and this was true of the Chinese people as well. In every category it seemed the USA was #1. Everyone looked to the USA to lead humanity into the future.

It is no longer possible to maintain that fantasy about America anymore. This requires a "new understanding" ; a fresh look at the US untainted by the automatic presumption of America's permanence and invulnerability. I think the Chinese imagined rising to become equals to the US, but I think it may have never occurred to them that America could stumble so badly that China would be left as the sole global superpower. That is obviously not a responsibility that they sought out, so they need to start thinking about it.

Americans will automatically assume this means military dominance because that is what they have become used to over the last few generations, but it really is more about setting standards and goals that the rest of the world will strive for. That was never a concern before because the Chinese aim was to become equals to America. They have largely achieved that, but America is on its way down, so now what?

The Chinese have some soul searching to do now, and developing a new understanding of America is part of that.

[Aug 02, 2020] I can't see much distinction between Neoliberalism in its purest form and authoritarian Communism

Aug 02, 2020 | www.unz.com

cranc , says: August 1, 2020 at 12:48 pm GMT

There seems to be some dispute about whether there is a far Left socialist revolution unfolding. I can't see much distinction between 'Neoliberalism in its purest form' and authoritarian Communism. It boils down to control, whether that is in a 'market' context of monopoly corporations who are embedded within the state, or whether it is in the context of 'state enterprises' in the USSR.
What seems clear is that the society of the capitalism of small and medium sized businesses, relatively free movement, civil liberties and an open culture are being wound down and replaced by a centralised control society organised through the internet. State administration will matter less. Central banks, Blackrock investor algorithms, automated private security systems will matter more. This is not an attack on Trump, it is the bringing down and replacement of the US system per se.
Call it what you want. The jerks on the street have absolutely no idea what is taking place. They are brainwashed ideologues puppeteered by forces that operate above the distinction between 'capitalism' and 'communism'.

anonymous [400] Disclaimer , says: August 1, 2020 at 12:53 pm GMT

Why are there so many young people out there available to be radicalized and to just ruin and riot endlessly? Because American capitalism has devolved into a 'gig economy' where millions have no real future and nothing much to lose. People face a lifetime of meaningless, low paid service gigs that will never give them the means to have the standard of living of the previous generations. All the drug use is symptomatic of that.
Why would media and corporations promote and fund communism, being that they're the billionaire-corporate capitalist class? It's bait and switch from the class warfare of communist rhetoric to endless racial leveling and chaos along all social, racial and cultural lines. This leaves the billionaire benefactors of unisex toilets still in charge.
Small businesses are bankrupted under the guise of fighting the killer virus, their assets scooped up by the deep pockets. It's a huge transfer of wealth upwards scheme. The economy is being reset downwards using the ruin caused by these rioters and the killer virus. The mass of people will learn to adjust their expectations to fit the new grim reality. The commies, anarchists and whatever else is out there will later be rolled up. What with all the spying and fusion centers the government knows who they are. They're useful at the moment. It's a capitalist driven thing. Can't find a job after losing your business? Well here's some new legalized drugs for you and a welfare, I mean stimulus, check to tide you over at the hobo camp.

[Jul 29, 2020] A Significant Decline Is Coming For The U.S-

Notable quotes:
"... The problem for the US is that China is the world's biggest semiconductor market and biggest chip importer on the world ..."
"... these bans are lose lose situation for both the US and China ..."
"... I do not think that Pompeo is smelling blood and moving for the jugular, its not such a situation as China is not that vulnerable, it is more likely to be US elite anger due to the US weakening and China gains during the Covid-19 crisis. ..."
"... Trump strategy of bullying works many times. Supposedly there should be costs for the US in soft power and world opinion, but we are not seeing them. ..."
"... I guess most of the world is too cowardly and prefers to go with the flow. They will abandon the US only after the US lost anyway. Well, it is not an easy situation. Still, the US reactions are very strong and hateful precisely because things are still not good for it and its decline is continuing, regardless of some tactical victories, where in some cases it is a lose lose situation anyway. ..."
Jul 29, 2020 | www.moonofalabama.org

A Significant Decline Is Coming For The U.S. james , Jul 27 2020 18:10 utc | 1

by Passer by

In response to several comments in the last open thread (slightly edited).

Actually there is even some real, and not only relative, decline for the US, for example US life expectancy is dropping. This is a pretty bad sign for a developed country. Same for the UK by the way.

On the issue of China gaining during the Covid crisis, they gained in raw power, for example gained in GDP relatively to the US. And they gained in debt levels too, relatively, as US debt levels exploded due to the crisis. Now you have V-shaped recovery in China and poor, W-shaped double dip recovery in the US. With far more debt added.

Of course there is the issue of public relations and soft power. On the one hand the US blamed China for the pandemic, but on the other hand it embarrassed itself due to its poor performance in containing the pandemic, compared to other countries. And the US lost points around the world due to rejecting WHO right in the middle of the pandemic. Europe and developing countries did not like that at all. Don't forget that Covid also weakened the US military, they have problems with it, including on ships and overseas bases, and even broke the biggest US exercise planned in Europe for the last 30 years. And the pandemic in the US is still raging, its not fixed at all and death rates are increasing again.

Here for example, the futurologists from Pardee Canter that that China gained during the crisis, in raw capabilities. Future research and relative power between countries is their specialty :

Research Associate Collin Meisel and Pardee Center Director Jonathan Moyer use IFs (International Futures) to explore the long-term impact of COVID-19 in China in this Duck Of Minerva blog post" "Where broad measures of material capabilities are concerned, the picture is clear: COVID-19 is closing the gap in relative capabilities for the U.S. and China and accelerating the U.S.-China transition. Through multiple long-term forecast scenarios using the International Futures tool, Research Associate Collin Meisel and Pardee Center Director Jonathan Moyer explain on the Duck of Minerva blog that China is likely to gain approximately one percent of global power relative to the U.S. by 2030 due to the economic and mortality impacts of COVID-19. This share of global power is similar to the relative capabilities of Turkey today.

On the issue of the USD, Stephen Roach also says that there will be a significant decline in the medium term. And the argument is pretty logical - if the US share in the global economy is declining (and it will be declining at least up to year 2060), and if the level of US debts is reaching all time high levels, then the USD will decline. I agree with that argument. It is fully logical.

On the chip/semiconductor issue. David Goldman is skeptical that the US will be able to stop China on this :

The chip ban gives the world an enormous incentive to circumvent the US
Basically Huawei still has advanced suppliers, from South Korea and Japan. And some of them are refusing to yield. The problem for the US is that China is the world's biggest semiconductor market and biggest chip importer on the world , which gives enormous initiative for private businesses to circumvent US made equipment in order to export to China. Then also China is stashing large quantities of chips. By 2025, it should be able to replace foreign production with homegrown. So these bans are lose lose situation for both the US and China - yes, this will cause come costs to China up to 2025. But it will also lead to US companies, such as Qualcomm, to lose the Chinese chip market, which is the largest in the world, and there is nothing to replace it.

These are hundreds of billions of losses for the US due to gradually losing the most lucrative market. Thus, in relative terms, China does not lose from these games, as the US will pay a large price just as China. It is lose-lose situation, but in relative terms the same. US loses just as China loses. And do not forget that China warned that a full US attack on Huawei will lead to Boeing being kicked from the country, which is becoming the biggest aviation market in the world, and will lead to hundreds of billions of losses for that company too, and will probably burry it under Airbus. China needs lots of planes up to 2028, when they will replace them with their own, worth hundreds of billions of dollars. Elevating Airbus over Boeing, which already has big troubles, will be a significant hit for the US aerospace industry.

So China has cards to play too. On the issue of the US getting some countries to ban Huawei, it is again lose - lose situation - that is both the US and some of its allies will lose due to using more expensive 5G equipment and will lose more time to build their networks. So China loses, and US and some allies lose, but in relative terms things remain the same between them power-wise, as they both lose. Do not forget that Germany said that it will continue to use Huawei equipment, and this is the biggest economy in Europe:

Germany's three major telecommunications operators Deutsche Telekom, Vodafone and Telefonica have been actively promoting 5G in recent years. They implement the "supplier diversification" strategy and use Huawei equipment in their networks among other vendors. Peter Altmaier, German minister of economy, told the Frankfurter Allgemeine Zeitung on July 11 that Germany would not exclude Huawei from the country's 5G network rollout. "There can only be an exclusion if national security is demonstrably at risk. However, we will strengthen our security measures, regardless of which country the products come from," said Altmaier. "There is no change in Germany's position," a spokesperson of the country's Interior Ministry told local broadcaster ARD on July 16.

So we can say that probably half of Europe will be using Huawei. Still, as you said, a large part of the world will exclude it. Maybe half of world's GDP. Unfortunately things are not perfect. One bright spot in that is that Huawei is betting on emerging markets, and emerging markets have higher growth rates than western markets - that is, they will matter more in the future.

I would agree that the US is harming China, but the damage is not large IMO, as these are mostly lose lose situations where relative power stays the same. And with time, there will be significant damages for the US too, such as losing the biggest chip and aviation markets and the empowerment of Boeing competitors such as Airbus.

So its not too bad in China. Thus, after mentioning all of this, I do not think that Pompeo is smelling blood and moving for the jugular, its not such a situation as China is not that vulnerable, it is more likely to be US elite anger due to the US weakening and China gains during the Covid-19 crisis.

On Hong Kong China had no options. It was a lose-lose situation. If they allowed everything to stay as it is there would be constant color revolution there and they will be constantly in the media. Maybe it is better to stop this once and for all. They hoped that the Covid crisis will give them cover to do this. It did not work very well.

Unfortunately it is right that the Trump strategy of bullying works many times. Supposedly there should be costs for the US in soft power and world opinion, but we are not seeing them.

I guess most of the world is too cowardly and prefers to go with the flow. They will abandon the US only after the US lost anyway. Well, it is not an easy situation. Still, the US reactions are very strong and hateful precisely because things are still not good for it and its decline is continuing, regardless of some tactical victories, where in some cases it is a lose lose situation anyway.

The data shows a significant decline incoming for the US.

The Highway Trust Fund (HTF) will be depleted by 2021, the Medicare Hospital Insurance (HI) trust fund by the beginning of 2024, the Social Security Disability Insurance (SSDI) trust fund in the 2020s, the Pension Benefit Guarantee Corporation (PBGC) Multi-Employer fund at some point in the mid-2020s, and the Social Security Old-Age and Survivors Insurance (OASI) trust fund by 2031. We estimate the theoretically combined Social Security OASDI Trust fund will run out of reserves by 2031.

That is not to mention the big divide in US society, and the ongoing Covid crisis, which is still not fixed in the US. But is largely fixed in China. Do you see the decline now? They have a big, big reason to be worried. A significant decline is coming for the US.

Posted by b on July 27, 2020 at 17:53 UTC | Permalink

thanks for highlighting 'passer by's post b... i agree with them for the most part... it reminds me of a game of chess where pieces are being removed from the board.. it is a lose- lose, but ultimately, it is a bigger loss for the usa down the road... for whatever reason the usa can't see that the financial sanctions, bullying and etc, only go so far and others work around this as we see with russia, iran, venezuala and china in particular...

the one comment i would view differently then passer by is this one - "Unfortunately it is right that the Trump strategy of bullying works many times. Supposedly there should be costs for the US in soft power and world opinion, but we are not seeing them." i think the usa is losing it's position in terms of soft power and world opinion but you won't be reading about it in the western msm.. that is going to come out later after the emergence of a new reality is very clear for all to see... the trump strategy is really more of the same and it is like a medicine that loses it's power over time and becomes ineffective - sort of like antibiotics...


O , Jul 27 2020 18:34 utc | 7

In other words the western oligarchs will lose out to the eastern oligarchs in the Great Trade War under the cover of a fake pandemic.

Or perhaps the global oligarchs in general just want the world to follow more in the Chinese model where the population is more agreeable to total surveillance, social credit scores and even more out right fascistic government/corp model under the cover of a fake pandemic.

Kadath , Jul 27 2020 18:46 utc | 8

Re: James #1,

With respect to "bullying works", in international diplomacy it usually does since weaker powers have more to lose in a direct diplomatic crisis with a larger power. This is not to say that they won't push back, but they will be far more strategic in where they do. In essence, weaker powers have fewer "red lines" but they will still enforce those, while greater powers have more "red lines", because they have more power to squander on fundamentally insignificant issues. However, weaker states will still remember being abused and oppressed, so when the worms turns while they won't be the first to jump ship, they will be more than eager to pile on and extract some juicy retribution once it is clear they will not be singled out. I suspect the Germany will be the bellwether, when (if) Germany breaks from the US on a key aspect on the transatlantic relationship that will be the signal for others to start jumping ship. If Nordstream 2 go through, then there will be a break within 5 years; if Nordstream is killed, then the break might be delayed for 5 years or more but there will still be a break when the US pushes Germany to support the next major US regime change war in the Middle East.

O , Jul 27 2020 19:10 utc | 16

The engineered collapse is being called the "Great Reset" by many outlets already. The covid nonsense is just a cover for it. Instead of Saudi Arabian terrorist it is a basically a harmless coronavirus. Just in the days immediately following 911 the "terrorist'' threat was so overhyped that security theater was employed everywhere. Now sanitation theater is the new act in town.

blum , Jul 27 2020 19:11 utc | 17

Where does anyone get these numbers about military spend as a % of gdp? Have you listened to Katherine Austin Fitts on Corbett Report?
Posted by: oglalla | Jul 27 2020 18:27 utc | 4

If you could dig through the linked Committee for a Responsible Federal Budge links for me. I'd appreicate it a lot. ;)
http://www.crfb.org/blogs/major-trust-funds-headed-insolvency-within-11-years

Long time not heard anything from Katherine. You feel I should check both her and Corbert on Gates, I suppose?

karlof1 , Jul 27 2020 19:24 utc | 19

Article discussing political fallout from info provided @11.

Andrei @14--

Good to see your comment. Lots of anecdotal evidence nationwide about store closures and many vacancies in business centers, particularly within economic engines of NYC and elsewhere along the East Coast. IMO, lots of self-censorship by business media while the reality reported by Shadowstats goes ignored. As for losing the status of #1 economy, that was always going to occur once China or India became a moderately developed economy. It just happened that China is far more efficient politically which allowed it to become #1. And until India improves politically, it will continue to lag behind numerous smaller nations. Too bad there isn't a place where one can bet on the great likelihood that the Outlaw US Empire will outperform all nations in the production of Bullshit and Lies.

Jackrabbit , Jul 27 2020 20:48 utc | 29

I also disagree with the comparison between USA and China gdp and other statistics.

China is not simply competing against USA but against the Empire: 5 eyes, NATO, Euro poodles, Israel and the Gulf States and others like Mexico, Columbia, Brazil, India.

Anyone that is minimizing the conflict and the advantages of one side vs another is doing a disservice.

Cold War I lasted 40 years.

!!

Mark2 , Jul 27 2020 21:13 utc | 39

CitizenX @ 26
Agree with your tone and content.
Particularly the third from last paragraph. I think people are missing by choice the growing ground-swell of public opinion US wide as this blog shows, a multi-faceted detereation of US political morals and legality.
Combined with a world wide growing awareness of how deranged American leaders now are.
Haterd consumes itself as dose greed.
My ear to the ground tells me, the protests at present are growing some in full sight some not.
This is not buseness as usual. Then return to normal. The mood now is -- -- - let's settle this thing once and for all, let's get the job done.
So my personal opinion ? we will see a US regime chainge faster than a lot here predict. Much faster.

jadan , Jul 27 2020 21:50 utc | 54

Passer by is correct, no doubt, thanks to incompetent leadership in the US, but this economic horse race doesn't matter.

What matters above all is that nations should hold it together, "it" being sustainable, survivable support systems capable of providing for mass populations.We have failed that test here in our encounter with this pandemic. We have failed to develop a sustainable financial system. We have failed to meet any sort of environmental goals. We don't even have environmental goals! Our electoral system doesn't work, either, proof being the election of this idiot atavistic rich boy. If anyone thinks the election of Trump reflects the will of the majority of Americans, they are part of the problem.

China is in deep trouble. The CCP's greatest challenge is simply to hold "it" together. The Party has to perform economic miracles or the country will collapse. Those groups not satisfied with life in the PRC have no outlet for their voices to be heard. They cannot protest. They are under the strict control of an increasingly sophisticated but tiny elitist clique that is only 6.5% of the total population. This clique will not relinquish power and permit more democratic expression. On the contrary, more and more suppression of dissidence of any sort will happen. The social scoring system is an especially insidious program of social control. China's collectivism has turned the country into an ant hill. It is extremely productive, but people are not ants.

Passer by is looking at the world through a keyhole.

O , Jul 27 2020 22:23 utc | 68

Nightmare' conditions at Chinese factories where Hasbro and Disney toys are made


Investigators found there were serious violations at the factories which were endangering workers.

In peak production season, employees were working up to 175 overtime hours per month. Chinese labour law restricts monthly overtime to 36 hours per month, but the report alleged factories would often ask local governments to implement a "comprehensive working hour scheme" to override existing legislation.

https://www.cnbc.com/2018/12/07/nightmare-at-chinese-factories-making-hasbro-and-disney-toys.html

O , Jul 27 2020 22:28 utc | 69

One wonders if China will run into the same problems of the US in the not too distant future?

"The End of Sweatshops? Robotisation and the Making of New Skilled Workers in China"


Over the past four decades China has undergone a process of massive industrialisation that has allowed the country to achieve remarkable economic growth. Because of its large manufacturing capacity based on a seemingly unlimited supply of cheap migrant labour in light industries, China has come to be known as the 'workshop of the world'. However, since the early 2000s the country's labour market has experienced a remarkable transition from labour surplus to a shortage of labour, which has led to sustained increases in the wages of ordinary workers. In such a context, since 2015 robotisation has become a driving policy for industrial upgrading for manufacturing in China, with the slogan 'replacing human workers with industrial robots' (机器换人) frequently appearing in media reports and official policy documents.

https://madeinchinajournal.com/2020/05/07/the-end-of-sweatshops-robotisation-and-the-making-of-new-skilled-workers-in-china/


Jackrabbit , Jul 27 2020 22:39 utc | 72

karlof1 @Jul27 21:50 #55

Thank you for clarifying that.

The early date of "full spectrum dominance" (1996 not 2010) suggests to me that the doctrine was related the "end of history" thinking of that time. USA Deep State believed its own propaganda.

It also strengthens my case for the proximate cause for the current conflict originating in 2014 when the US Deep State suddenly realized the threat that Russia and China Alliance posed to their plans for global domination.

Not only had they believed their own propaganda but they had overreached with their attempt to force Russia to capitulate and had been distracted by Israel interests that wanted to use USA for the greater Israel project.

!!

karlof1 , Jul 27 2020 22:59 utc | 74
When I wrote my economic analysis paper on China in 1999, it was quite clear that the 21st Century was going to become the Asian Century as the Outlaw US Empire would be eclipsed by Asia's economic dynamism. 20+ years later, my prediction holds true, and it's even stronger now than then with Russia's resurgence. Both outcomes clearly go against the 500+ years of Western Global Hegemony and goads numerous people. For students of history like myself, what's occurring isn't a surprise thanks to the West's adoption of--or should I write forced indoctrination into--the Neoliberal political-economic philosophy, which is akin to that of Feudalism since it benefits the same class as that of the Feudal Era. China too was once Feudal and suffered a massive Civil War that destroyed much of its structure, a conflict known to the West as The Taiping Rebellion that lasted almost 14 years, from 1850-1864. One might say that was the first half of China's overall effort to overthrow Feudalism and Western Imperialism, as the second half began in 1927 and finally concluded in 1949. That amounts to a large % of years for a newbie nation like the USA; but for a nation like China inhabited by humans for over 1.3 million years and with 4,500 years of recorded history, it's really just another Dynastic Rollover--something inconceivable to non-Asians.

In reality, China's a conservative nation, culture and society with a several thousand year ethos of Collectivism, although that allowed a significant divergence in social stratification due to the ruling Feudal ways. Those who have read The Good Earth have an excellent grasp on the nature of Chinese Feudalism, which was embodied by the Kuomintang or KMT--as with Feudal lords, KMT leaders were deemed "Gangsters" by US Generals and diplomats during and after WW2. General Marshall wrote in 1947 it was clear to him that the KMT would lose to the CPC, that there was no good reason to throw good money after bad, and it would be best for the USA and the West to accept the fact of a Communist China (all noted by Kolko in his Politics of War ). Contemporary China when compared to China as depicted in 1931 by Pearl Buck is one of the most amazing human achievements of all time, and the conservative Chinese government intends to keep it that way through a series of well thought-out plans. That's the reality. It can be accepted and worked with as numerous nations realize, or it be somehow seen as unacceptable and fought against in what will prove to be a losing effort since all China need do is parry the blows and reflect them back upon its opponent using skills it developed over several thousand years. It would be much easier to join China than fight.

Hoarsewhisperer , Jul 27 2020 23:00 utc | 75
It's misleading to assess the National Military Capability of various countries in $US terms. The West's M-IC is privately owned and puts shareholder profit before all else. And the owners of the Western M-IC also own the politicians who facilitate and approve the rip-offs.

China and Russia's M-IC are owned and controlled by The People via the government and can therefore get $2+ of value for every $1 invested. For example, one can buy some very nifty twin-engine bizjets for less than half the price USG pays for a flying Batmobile (F-35) - a glorified hot-rod with guns.

VietnamVet , Jul 27 2020 23:40 utc | 83

There is definitely a decline in the USA. Deaths of despair and from the coronavirus are too great to ignore anymore. 150,000 dead and counting are not nothing. The Western Empire has fallen. The U.S. federal government failed. The Imperialists are quarantined at home.

The question is if the 19th century North American Empire from Hawaii to Puerto Rico survives. The Elite have bet it all on a vaccine or patentable treatment to give the Pharmaceutical Industry billions of dollars. However, quick cheap paper monoclonal antigen tests would make testing at home before going to work or school practical.

https://www.youtube.com/watch?v=h7Sv_pS8MgQ

This would end viral transmission and the pandemic. No drug jackpot for the 10%. Instead public health is ignored as Americans die. The silence is deafening. The protests in the Pacific Northwest are not about slavery. They are about the 90% of Americans being treated as disposable trash.

Jackrabbit , Jul 28 2020 0:26 utc | 87

VietnamVet | Jul 27 2020 23:40 utc | 83

150,000 dead and counting are not nothing. The Western Empire has fallen.

No offense VV but I can't help thinking that you (and maybe some others) are talking past the issue.

To be clear, the issue is this: Will the West's decline play a role in the US/Empire's ability and willingness to confront Russia-China? Or is the oft-heard refrain that US/Empire can not 'win' against China (implying that they shouldn't/won't bother trying!) because of its decline (usually attributed to 'late-state capitalism') just wishful thinking?

Virtually everyone here has agreed that the West - especially USA - hasn't fought the virus correctly and with vigor. And virtually everyone agrees that there has been a relative decline in USA/West and in some areas an absolute decline.

IMO what is ignored is that:

  1. from the perspective of the US 'Deep State' or Western power-elite the failure to fight the virus is a net positive if the repercussions are blamed on China (in addition to other 'positives' from their perspective: saving on cost of care to elderly, boosting Big Pharma profits, etc.) -

    In fact, deliberate mistakes and mounting only a token effort (as we've seen) is exactly what we should expect from a craven power-elite that want to further their interests;

  2. the overall decline, while troublesome - especially to the ordinary blokes who get the short end of that decline - is not yet significant enough to prevent USA/Empire from countering the Russia-China 'upstarts' aggressively.

I likened the hopefulness of the anti-Empire crowd about Western decline to their hopefulness they previously expressed regarding Turkey. "Erdogan is turning east!" proved to be wrong.

!!

Richard Steven Hack , Jul 28 2020 0:37 utc | 89

Posted by: Andrei Martyanov | Jul 27 2020 19:01 utc | 14 Within last 10 years China built surface fleet which in terms of hulls (and "freshness") rivals that of the US. US economy would have it bottom falling off if it tried to accomplish a similar task.

Nice to see you here again. Yes, I mentioned the relative navy building in the previous open thread. China's navy will exceed US capability by 2050 and be on parity by 2030-2040 according to reports I've read. That's just ten years to twenty years from now.

Result: US gets kicked out of the South China Sea and has to share the Pacific, Indian Ocean (as will India with gnashing of teeth) and even the Med with China. China will undoubtedly project naval power all the way to the Med in support of BRI in the Middle East.

Richard Steven Hack , Jul 28 2020 1:12 utc | 92

Posted by: Jackrabbit | Jul 27 2020 20:43 utc | 27 There is decline, and while it has been mostly relative it is also accelerating - but that hasn't significantly constrained USA/Empire's response to the upstarts.

I agree. US military power isn't going away in ten years or twenty. China may achieve parity at some point (and can do serious damage now). But that doesn't obviate the fact that, short of nuclear war, the US is still in a position to throw its weight around and will continue to do so until forced back by a (hopefully conventional) military defeat of serious proportions, i.e., not just "give up and go home". And economic woes won't change that as long as the taxpayer can be fleeced - and they will be, for at least a few more decades.

jadan , Jul 28 2020 1:30 utc | 95

@ 62 A.L. "Would it be a surprise to you than there are many many protests in China at the grass root level everyday?"

There are indeed protests all the time, which is the fire under the local Party leaders that keeps them dancing. Usually the protests are against local corruption or mismanagement and are not serious. People can get what they want this way. Each year at the general Party gathering, however, special note is taken of "mass incidents", that is, protests on a larger scale, and overtly political events such as those in the Uighur province of Xinjiang and in Hong Kong. Any protest that challenges the control of the Party is not permitted. The current protests in the US could not happen in China because they challenge political orthodoxy. The Chinese don't just roll over on command for the CCP to scratch their bellies and the Party knows just how volatile the political situation could be if mishandled. China is developing into the ultimate surveillance state. There are lots of Chinese like that little guy that stood down the tank at Tienanmen in 1989. Eventually that guy is going to say: "There is some shit I will not eat!" The Party knows this.

Seer , Jul 28 2020 1:40 utc | 96

Several years ago (close to 10) I noted that the US would be bringing back US companies from China, that it would actually subsidize their relocation. It's only logical. I saw China as becoming hostile to US corporations: in light of how things are going today it's the US govt becoming hostile toward US companies in China. Make huge profits and then get free money to return back to the US: and be welcomed as victorious troops arriving back from some glorious war.

It's Musical Chairs. As the music plays more and more chairs are being removed. Capitalism has been the most efficient economic system in which to trigger an economic collapse. WTF did people think would happen with basing economic systems on the impossible, basing on perpetual growth on a finite planet. All of this was readily foreseeable using SIMPLE MATH.

Economies of scale in reverse...

Cyril , Jul 28 2020 1:43 utc | 98

@jadan | Jul 27 2020 21:50 utc | 54

China is in deep trouble. The CCP's greatest challenge is simply to hold "it" together. The Party has to perform economic miracles or the country will collapse.

How do you square your dire prediction of China's collapse with the Edelman trust barometer of 2019 (warning: PDF file), where China scores 88 on the trust index and the US scores 60?

Daniel , Jul 28 2020 1:51 utc | 101

The COVID-19 pandemic revealed that all the "leading" western countries are unable to handle even a relatively moderate public health crisis. The neoliberal economic model considers any aspect of society that isn't generating a profit as ideologically unsound and targets these areas for "reform" (i.e. privatization).

Sometimes this is done outright, as when a public utility or service is sold to a private, for-profit operator (e.g. British Rail in the UK). But when the government thinks the public will resist and push back it is done by stealth, usually by starving the targeted service/organization of funds and then farming out parts of it to for-profit companies in the name of "efficiency", "innovation", "resilience" or some other neoliberal doublespeak concept (they all mean only one thing of course: PROFIT). This is currently happening to the US Postal Service.

Every public healthcare system in the so-called "advanced" nations encompassed by the EU/NATO and Five Spies has been underfunded and subjected to stealth privatization for decades. Furthermore, people in neoliberal societies exist to serve as fodder and raw material for "the economy" (i.e. the plutocrat or oligarch class) and there is no mechanism to deal with emergencies that can't be milked for a profit. Hence, the half arsed, incompetent, making-it up-as-they-go-along response to COVID-19 that simply writes off older and sick people as expendable.

Neoliberalism began as a US/UK project, that's why poverty, crime, inadequate health care and social services etc. and governmental and societal dysfunction generally is more advanced there than in, say, Canada and Germany.

So, yes, the US is in decline, maybe even collapsing, but that doesn't mean the imperial lackey countries are immune to the forces tearing apart the United States. They are just proceeding down that road at a slower pace. If the US falls, the west falls...globalization takes no prisoners.

I live in Canada where sometimes people get a bit smug about how great everything is here compared to the US. In British Columbia, for example, opiate overdose deaths are at a record high and have killed many many more people than COVID-19 since the pandemic began. Housing in cities like Vancouver is increasingly unaffordable, there aren't enough jobs that pay a living wage, permanent homeless camps exist in city parks, there are entire blocks where people who live in their vehicles park etc.etc.

The reality is that it's the west that is in decline, not only the United States.

O , Jul 28 2020 1:51 utc | 102

China is developing into the ultimate surveillance state.
Posted by: jadan | Jul 28 2020 1:30 utc | 95

But don't you see, dear jadan, it is for the good of the people, if only the rest of the world could see the benevolence of Big Brother we would all be much happier at least that is what the thought police has told me to think. One government, one heart, one mind. Long Live the PRC revolution./s

Schmoe , Jul 28 2020 2:04 utc | 105

Amidst all of the nonsense in the discussion section of the following link, I believe there are some germane comments from individuals that work in the semiconductor space that touch on some of the challenges China's chip industry faces. link

This article notes the substantial challenges TSMC and Samsung would face it they tried to build a cutting edge chip facility without US cooperation: can-tsmc-and-samsung-build-a-production-line-for-huawei-without-us-equipment

I hope their hiring of 3,000 experienced chip engineers accelerates their learning curve. Developing a chip industry on a moment's notice, let alone competing with Samsung and TSMC, is no small chore.

One item not mentioned in the above article is whether China could build many consumer components based on domestic 14nm (or larger) technology. Given China used to spend more importing chips than oil, I assume that even less advanced chips used for TVs, etc. as opposed to cellphones, would be very helpful for China's consumer electronics manufacturing.

They are also making some strides in the flash memory and CPU space, but production quantities are still very low.

Peter AU1 , Jul 28 2020 2:54 utc | 108

Lose lose China loses less?

Health, education, infrastructure, research and development. The backbone of prosperity. These will all continue no matter trade war or cold war but barring hot war. There must be a doubling time for this - something like an R0. Cold war and sanctions will only serve to increase R&D

US mistakes, hubris ect move in the opposite direction, mistakes multiplying mistakes.

ptb , Jul 28 2020 2:55 utc | 109

@Schmoe 105
thanks, interesting. Here is a complementary tho less detailed article on some of the same topics I ran across recently: China Speeds Up Advanced Chip Development [semiconductorengineering.com]

One important point, clearly visible in the tables in the seekingalpha article linked by Schmoe, is that the ultra-small 14nm/7nm stuff is for specialized (but strategically important) applications. Most consumer electronics, industry, and everything else is 40-60nm and up, although of course smaller has benefits to older applications in improve power (i.e. mobile applications and servers) and cost (higher density/wafer)


Peter AU1 , Jul 28 2020 3:20 utc | 113

ptb

US as an one excuse for its current hostilities against China is 'intellectual property' theft. Makes me think of ninja Chinese sneaking around removing peoples brains.
But back to semiconductors. One of China's biggest imports is chips, mostly made by machines using US tech. Many industries are highly specialized and it often makes sense from small community level to national and global level to by a product from those that specialist in that product.
China has been content to buy chips, but that will now change due to necessity. Yankistan can now expect to get its brains hacked, but I am also reminded of the Scientists in the Manhattan Project being the ones to pass on much information to the Soviet Union.
Yankistan will be leaking like a sieve. I guess that's why both oz and the poms are beefing up their secret police laws. Wont be long before we are getting shot trying to run through checkpoint charlie to the free east.

gepay , Jul 28 2020 3:46 utc | 114

It is clear that the US is in decline. It is clear the US military is bloated and overpriced but it can still turn most countries into rubble (even without using nuclear weapons) and has done a few recently. Mostly the US uses its reserve currency status and control of financial networks to punish countries that do not go along with its program. Can you say sanctions. but as Hemingway said about bankruptcy - it happens slowly and then all at once - is probably how it will continue to go. It is even losing its technological advantage. Boeing used to be the leader and made reliable planes. Now they sometimes fall out of the air. Things like high speed railways used to be the kind of thing the US did well. Now California can't get one built. China has built thousands of miles of them. Russia built a 19 kilometer bridge to Crimea in 2 years after 2 years of planning. It appears to be competently built on time and on budget. Do you really think this could happen in the USA now? In the 70s the US was the leader in environmental actions. I wonder if the present day Congress could even pass bills comparable to the Clean Air ACT or the Clean water bill. US national politics are a mean joke. Our choice this year for President - two 70+ old white men with mental issues. Our health system is overpriced. Medical bills are one of the main reasons for personal bankruptcies. As others mentioned the US life expectancy is falling. As Dmitri Orlov who watched the Soviet Empire fail said - Empire hollowed out the Soviet Union till it failed, I see it doing the same thing in the US.

John A Lee , Jul 28 2020 4:04 utc | 115

The current 'adjustment' in the USD & living standards is just what the doctor ordered to allow elites to roll out "tech wave 2" - there is precious little gain to be had from further staffing & wages cuts to the average shit-kicker, so now the bourgeoisie, medicos, architects, academics, writers plus all the rest of the tertiary educated types who blew hundreds of thousands on an education guaranteed to keep them employed, are about to be tossed on the scrap heap.

We already know from previous stunts such as 911 & the 2008 'global financial meltdown' that those most disadvantaged by this entirely predictable destruction of lives will be easily diverted into time-wasting and pointless arguments about the real cause of the mess.

This will allow the elites to use that diversion to funnel all federal funds into subsidising the capital costs of the retooling, as both parties have begun to with the despicable CARES Act, supported by the mad christian right in the senate, as well as the so-called socialists in the Congress squad.

All the Cares Act does is inject capital into big corporations, boosting their stock price & leaving citizens to lose most of their unemployment benefit. Citizens get evicted from their homes. This time it will be tenants as well as home owners.

Both of those factions of elite enablers are going to create a great deal of noise and crass finger pointing. The squad will jump up and down about this being a deliberate attack on citizens by the elite while senate fundies will claim that this 'retooling' is the result of unreasonable pay & working conditions demands by the communist unions.

What should be a universal expression of disgust will be reduced to just another culture war.

Neither will ever admit that it is far too late to be worrying about cause, it is time to concern themselves with effect, because to do so would create focus back on where the money was going at time when it is important to be saying "everyone is hurting, including the elites". Fools.

Eventually when the deed has been done assorted scummy senators & creepy congress people will announce "It is time to move on" That will be a signal that treasury tanks are dry, the elites have gotten everything which wasn't nailed down so now the citizens can roll clawing & scratching in the mud.

I have no doubt that will be the direction of discussion here as well, it is much easier to sit at a keyboard digging out obscure 'facts' that 'prove' one point of view or another, than it is to leave the keyboard behind and put work into resisting the elites and in doing so forcing a change that is more citizen friendly.

Peter AU1 , Jul 28 2020 4:31 utc | 116

gepay

With the return of Russia to the geo-political arena, US can no longer destroy counties at will through conventional weapons nor color revolutions and AQ freedom fighters.
Trump decided to go nuclear, so Russia placed its nuclear umbrella over it allies.
US can no longer destroy countries at will. It can attack a country and risk ensuring its own destruction.
So back to hybrid war and proxie war ... but now the field is narrowed down to five-eyes and in the case of China - India.
So to keep Russia out, yankistan has to rely on conventional war and hybrid war, though we are looking at a country where the lunatics are in charge of the asylum so anything could happen.

Antonym , Jul 28 2020 5:29 utc | 119

5G, who wants this?

The MNCs producing it, the MSS, NSA and GCHQ, the IoT idiots and all authoritarians on the globe. Consumers are happy with 3G: many don't even have 4G reception - give that to them.

With IoT more unemployment, more electricity and Internet dependency, more chance of hacks or natural disruptions (solar flares), more 1984.

More is not always better at all.

aquadraht , Jul 28 2020 5:36 utc | 121

Just read an "opinion piece" demonstrated how remote from reality are not only people like Pompeo from a"liberal" commentator:

https://www.msn.com/en-us/news/world/pompeos-surreal-speech-on-china/ar-BB17bk0t

The Chinese Communist Party wants a tributary international system where smaller countries are deferential to larger powers, instead of a rules-based international order where small countries enjoy equal rights.

HAHAHA!

Antonym , Jul 28 2020 5:40 utc | 123

The US/UK declining won't bother most billionaires with those passports: they just buy any other. Stuck are the millions of others.

Equally "China" ascending brings joy for all billionaires around the globe holding stock depending on Chinese near monopolies, including Anglo-es.

Some middle class Chinese are beginning to see that dying "rich" is is very limited goal, as zero can be taken to the Here After and the price for this Now is too high. Money is not everything. Welcome to this select club, Chinese brothers and sisters. Sure, a bit is good to live but amassing is a waste of precious time and attention.

William Gruff , Jul 28 2020 16:19 utc | 160

The US lacks the capacity to erect an "economic wall" that can stop China's development. Trump's "trade war" was an attempt to do just that, and America got steamrolled.

To be sure, the US can attempt even more irrational and desperate acts such as trying to seize assets owned by Chinese people and organizations in the US, but that would be America shooting itself in the head rather than just the foot.

The US simply does not posses the ability to "take the wind out of China's sails" . That is not something that is within America's power to accomplish without going kinetic by, for instance, trying to enforce a naval blockade of China's maritime transport routes. At this point there are no economic measures America can take that will not do vastly more damage to America than to China. Both trade war and bio attack were the best options America had, and America has suffered grievously from those efforts with relatively minimal impact on China. China's economy remains fundamentally strong while America's economy is devastated.

As for disrupting China's international development efforts, America has been trying its hardest for years now with the only impact being minor delays in China's plans. The only way to truly disrupt China's international development efforts would be to offer a better deal, but America no longer has anything to offer that is better. The only option left to America to delay the BRI for longer would be a kinetic one, and the door is closing on that.

juliania , Jul 28 2020 16:23 utc | 161

jack rabbit @ 81,

Your item 1. reads:

from the perspective of the US 'Deep State' or Western power-elite the failure to fight the virus is a net positive if the repercussions are blamed on China (in addition to other 'positives' from their perspective: saving on cost of care to elderly, boosting Big Pharma profits, etc.) -

It will not be possible to blame China, simply because no one believes the US press any longer, and there is no convincing the woman or man on the street that US handling of the virus has been in any way competent. We may not understand its virulence, and we perhaps don't understand yet how to cope with it, but the example of China has been clear from the earliest moments, and that speaks louder than any false rhetoric can claim.

We know what we have been experiencing in comparison with others who acted with celerity, and that basically was what was needed. The US chose to go it alone, at its peril. It stuck by a set of rules it had made for itself in these last years - rules which have not benefited the people at large. It all comes down to that.

foolisholdman , Jul 28 2020 16:38 utc | 165

O | Jul 27 2020 21:33 utc | 49

https://en.wikipedia.org/wiki/2010_Chinese_labour_unrest

Care to comment on that.

I would not quote a Zionist dominated source like Wikipedia on anything politically sensitive and the article you refer to is in any case 10 years out of date. However if you read it it refers to two foreign-owned firms, and it mentions that there are (In 2010)plans to double wages in the next ten years which has happened. The article also states"

Strikes are not new in China. Chinese authorities have long tolerated limited, local protests by workers unhappy over wages or other issues.[40] The Pearl River Delta alone has up to 10,000 labor disputes each year. In the spring of 2008, a local union official described strikes as "as natural as arguments between a husband and wife".[41] The Chinese government sought balance on the issue; while it has recently repeated calls for increased domestic consumption through wage increases and regulations, it is also aware that labour unrest could cause political instability.[42][43]

In response to the string of employee suicides at Foxconn, Guangdong CPC chief Wang Yang called on companies to improve their treatment of workers. Wang said that "economic growth should be people-oriented".[44] As the strikes intensified, Wang went further by calling for more effective negotiations mechanisms, particularly the reform of existing trade unions. At the same time, authorities began shutting down some websites reporting on the labour incidents, and have restricted reporting, particularly on strikes occurring at domestic-owned factories.[46][47] Guangdong province also announced plans to "professionalize union staff" by taking union representatives off of company payroll to ensure their independence from management influence.

Which indicates to me that the suicides alerted the government to the fact that these firms were making the lives of their workers miserable and took steps to improve the control of them. They obviously realized that the Union officials had been bought by the management. I wonder how the British government or the USG would have reacted? What I am certain about is that the MSM would have been much less enthusiastic about reporting it.
uncle tungsten , Jul 29 2020 2:13 utc | 197

karlof1 #86

IMO, taking a good look at Brazil's situation provides close to a mirror image for those within the Outlaw US Empire having trouble seeing clearly. Too often we forget to look South at the great sewer and its misery US Imperialism's created. It may be getting defeated in Eurasia, but it's winning in Latin America.

That sewer of misery was running full flush during Susan Rice's rise through the ranks.

National Security Adviser to Obummer 2013 - 2017,
US Ambassador to the UN 2009 - 2013
Do read the rest:

And well beyond South America.

Now she is close to seizing the prize of VP to Biden. She is a iron war horse of formidable capacity and mendacity given her past roles. She has few redeeming features. She will conform exactly to the dictats of the permanent state and she will easily step right over Joe Biden as he either falls or is taken down at the most opportune time.

What drole sense of humour thought of this - the hapless Trump squeezed between two black American presidents. Seems like something the Clintons dreamed up.

Antonym , Jul 29 2020 5:07 utc | 198

David Dayen's New Book Exposes the Dirty Hands of Wall Street Driving Monopoly Power in U.S. https://wallstreetonparade.com/2020/07/david-dayens-new-book-exposes-the-dirty-hands-of-wall-street-driving-monopoly-power-in-u-s/

New York Times Rewrites the Timeline of the Fed's Wall Street Bailouts, Giving Banks a Free Pass
https://wallstreetonparade.com/2020/07/new-york-times-rewrites-the-timeline-of-the-feds-wall-street-bailouts-giving-banks-a-free-pass/

kiwiklown , Jul 29 2020 5:39 utc | 200

Posted by: karlof1 | Jul 28 2020 22:30 utc | 191

"It was asked upthread if the US citizenry would trade its no-longer existing Superpower status for decent living standards.... There're only two forces keeping the American people from attaining freedom from the above fundamental fear and having lifelong security: The Duopoly and its Donor Class, the Rentier Class of Feudalistic Parasites that are the enemy of virtually all humanity."

The US citizenry will choose decent living standards in a heartbeat, but the present arrangement for eating off the labour of deplorables is just too profitable for the Duopoly & Donor Class to be permitted to change for a couple decades more.

Perhaps they will move on when there is no more meat on the American corpse, or when they have built up a sufficiently large group of useful idiots in China to begin eating off the backs of deplorables with Chinese characteristics.

Anything is possible, with the right amount of moolah, even overcoming Confucian morals. Joshua Wong comes to mind, who not only does idiotic, but actually looks idiotic.

class="posted">

[Jul 28, 2020] Near and Present Anarchy by Susan Zakin

Long and incoherent rambling with weak analogies. But some thoughts are interesting
Notable quotes:
"... collapsed state ..."
"... National Affairs ..."
"... über alles ..."
Jul 28, 2020 | thebaffler.com

...while every country is different, the signposts tend to be the same. It is worth attending to the characteristics he describes. They should sound familiar:

...Rotberg points out that widespread violence, one of the key markers of a failed state, is not in evidence. But as John Comaroff noted, the soft coup of finance can make violence redundant. Rotberg is one of the more conservative voices on state failure, so I was surprised when I asked about the consequences of a second Trump term. He simply said: "Move."

... America's polarization is as much psychological as political, Rauch wrote in National Affairs , echoing John Comaroff's recognition of tribalism as intrinsic to human society. Rauch calls America's polarization neither "ideological or even rational," but deep and atavistic, a sign of the human need for group identity in a fragmented world. "Rebuilding institutions -- and, just as important, noticing and valuing them -- is more important for containing tribalism than pretty much anything that public policy could do," he writes. "And two institutions in particular deserve strengthening: the Republican Party and the Democratic Party."

... With the executive branch cratering and the legislature limping along, citizens seek recourse from the courts -- a trend Comaroff calls "lawfare" -- or become beggars, relying on the whims of billionaires. Neither are a substitute for good government. Start with the courts: since the Reagan years, the pro-business Federalist Society has been stacking the courts, so increasingly these, too, reflect that new system of finance über alles .

... Surprisingly, few have pointed out the parallels to the United States. In the 1980s, Ronald Reagan's cowboy anti-communism made institutions the enemy, whether government bureaucracies or labor unions. Libertarianism here means freedom for corporations and slavery for everyone else. James Carville's famous dictum on winning elections can be repurposed: it's corruption, stupid.

If American frontier culture is the disease, it may yet hold the cure. Among the self-described political realists, conservative Jospeh Postell's remedies sound the most realistic: grassroots organizing and restoring the power of local government to dispense largesse. In Texas, Beto O'Rourke has been pouring time and resources into just the kind of organizing Postell talks about, a test case that should be watched. The next few years will likely tell us if the old remedies work or if the restoration of America's civil society needs something that goes beyond electoral politics. The worst-case scenario? Politics as we know it may be irrelevant.

... "The United States is a state that is a partially owned commodity of the corporate sector. If that's the definition of a failed state, we are. The state has become analogous to McDonald's. It's a franchise." And what better leader for a nation reduced to a franchise than a puffed up, golf-playing billionaire whose wealth comes in large part from licensing his name? Perhaps, as some scholars are suggesting, the new world order won't be countries at all, but vast trading cities in a sea of ungoverned spaces.

... In his taxonomy of state failure, Rotberg uses a telling phrase to mark the state's decline: losing "the mandate of heaven." This expression, once invoked to describe the divine source of authority for China's rulers, invokes a crisis that is both individual and collective and more powerful for that dual nature.\

... The failure of a state shakes people to their foundations. Downward mobility has bred a hopelessness that's sent rates of suicide and alcoholism skyrocketing.

... Even now, America is more like Sierra Leone than we care to admit, disunited and conflicted, our spirits eaten by cynicism. No longer asking what we can do for our country, the old martial definition of the state has given way to the description of war-torn Sierra Leone by London School of Economics professor David Keen: "a war where one avoids battles but picks on unarmed civilians and perhaps eventually acquires a Mercedes may make more sense . . . [than] risking death in the name of the nation-state with little or no prospect of significant financial gain."

Susan Zakin is the editor of Journal of the Plague Year . She is the author of several books, including Coyotes and Town Dogs: Earth First! and the Environmental Movement and Waiting for Charlie. More of her writing can be found at www.susanzakin.com .

[Jul 27, 2020] A Significant Decline Is Coming For The U.S-

Jul 27, 2020 | www.moonofalabama.org

A Significant Decline Is Coming For The U.S.

by Passer by

In response to several comments in the last open thread (slightly edited).

Actually there is even some real, and not only relative, decline for the US, for example US life expectancy is dropping. This is a pretty bad sign for a developed country. Same for the UK by the way.

On the issue of China gaining during the Covid crisis, they gained in raw power, for example gained in GDP relatively to the US. And they gained in debt levels too, relatively, as US debt levels exploded due to the crisis. Now you have V-shaped recovery in China and poor, W-shaped double dip recovery in the US. With far more debt added.

Of course there is the issue of public relations and soft power. On the one hand the US blamed China for the pandemic, but on the other hand it embarrassed itself due to its poor performance in containing the pandemic, compared to other countries. And the US lost points around the world due to rejecting WHO right in the middle of the pandemic. Europe and developing countries did not like that at all. Don't forget that Covid also weakened the US military, they have problems with it, including on ships and overseas bases, and even broke the biggest US exercise planned in Europe for the last 30 years. And the pandemic in the US is still raging, its not fixed at all and death rates are increasing again.

Here for example, the futurologists from Pardee Canter that that China gained during the crisis, in raw capabilities. Future research and relative power between countries is their specialty :

Research Associate Collin Meisel and Pardee Center Director Jonathan Moyer use IFs (International Futures) to explore the long-term impact of COVID-19 in China in this Duck Of Minerva blog post" "Where broad measures of material capabilities are concerned, the picture is clear: COVID-19 is closing the gap in relative capabilities for the U.S. and China and accelerating the U.S.-China transition. Through multiple long-term forecast scenarios using the International Futures tool, Research Associate Collin Meisel and Pardee Center Director Jonathan Moyer explain on the Duck of Minerva blog that China is likely to gain approximately one percent of global power relative to the U.S. by 2030 due to the economic and mortality impacts of COVID-19. This share of global power is similar to the relative capabilities of Turkey today.

On the issue of the USD, Stephen Roach also says that there will be a significant decline in the medium term. And the argument is pretty logical - if the US share in the global economy is declining (and it will be declining at least up to year 2060), and if the level of US debts is reaching all time high levels, then the USD will decline. I agree with that argument. It is fully logical.

On the chip/semiconductor issue. David Goldman is skeptical that the US will be able to stop China on this :

The chip ban gives the world an enormous incentive to circumvent the US
Basically Huawei still has advanced suppliers, from South Korea and Japan. And some of them are refusing to yield. The problem for the US is that China is the world's biggest semiconductor market and biggest chip importer on the world, which gives enormous initiative for private businesses to circumvent US made equipment in order to export to China. Then also China is stashing large quantities of chips. By 2025, it should be able to replace foreign production with homegrown. So these bans are lose lose situation for both the US and China - yes, this will cause come costs to China up to 2025. But it will also lead to US companies, such as Qualcomm, to lose the Chinese chip market, which is the largest in the world, and there is nothing to replace it.

These are hundreds of billions of losses for the US due to gradually losing the most lucrative market. Thus, in relative terms, China does not lose from these games, as the US will pay a large price just as China. It is lose-lose situation, but in relative terms the same. US loses just as China loses. And do not forget that China warned that a full US attack on Huawei will lead to Boeing being kicked from the country, which is becoming the biggest aviation market in the world, and will lead to hundreds of billions of losses for that company too, and will probably burry it under Airbus. China needs lots of planes up to 2028, when they will replace them with their own, worth hundreds of billions of dollars. Elevating Airbus over Boeing, which already has big troubles, will be a significant hit for the US aerospace industry.

So China has cards to play too. On the issue of the US getting some countries to ban Huawei, it is again lose - lose situation - that is both the US and some of its allies will lose due to using more expensive 5G equipment and will lose more time to build their networks. So China loses, and US and some allies lose, but in relative terms things remain the same between them power-wise, as they both lose. Do not forget that Germany said that it will continue to use Huawei equipment, and this is the biggest economy in Europe:

Germany's three major telecommunications operators Deutsche Telekom, Vodafone and Telefonica have been actively promoting 5G in recent years. They implement the "supplier diversification" strategy and use Huawei equipment in their networks among other vendors. Peter Altmaier, German minister of economy, told the Frankfurter Allgemeine Zeitung on July 11 that Germany would not exclude Huawei from the country's 5G network rollout. "There can only be an exclusion if national security is demonstrably at risk. However, we will strengthen our security measures, regardless of which country the products come from," said Altmaier. "There is no change in Germany's position," a spokesperson of the country's Interior Ministry told local broadcaster ARD on July 16.

So we can say that probably half of Europe will be using Huawei. Still, as you said, a large part of the world will exclude it. Maybe half of world's GDP. Unfortunately things are not perfect. One bright spot in that is that Huawei is betting on emerging markets, and emerging markets have higher growth rates than western markets - that is, they will matter more in the future.

I would agree that the US is harming China, but the damage is not large IMO, as these are mostly lose lose situations where relative power stays the same. And with time, there will be significant damages for the US too, such as losing the biggest chip and aviation markets and the empowerment of Boeing competitors such as Airbus.

So its not too bad in China. Thus, after mentioning all of this, I do not think that Pompeo is smelling blood and moving for the jugular, its not such a situation as China is not that vulnerable, it is more likely to be US elite anger due to the US weakening and China gains during the Covid-19 crisis.

On Hong Kong China had no options. It was a lose-lose situation. If they allowed everything to stay as it is there would be constant color revolution there and they will be constantly in the media. Maybe it is better to stop this once and for all. They hoped that the Covid crisis will give them cover to do this. It did not work very well.

Unfortunately it is right that the Trump strategy of bullying works many times. Supposedly there should be costs for the US in soft power and world opinion, but we are not seeing them. I guess most of the world is too cowardly and prefers to go with the flow. They will abandon the US only after the US lost anyway. Well, it is not an easy situation. Still, the US reactions are very strong and hateful precisely because things are still not good for it and its decline is continuing, regardless of some tactical victories, where in some cases it is a lose lose situation anyway.

The data shows a significant decline incoming for the US.

The Highway Trust Fund (HTF) will be depleted by 2021, the Medicare Hospital Insurance (HI) trust fund by the beginning of 2024, the Social Security Disability Insurance (SSDI) trust fund in the 2020s, the Pension Benefit Guarantee Corporation (PBGC) Multi-Employer fund at some point in the mid-2020s, and the Social Security Old-Age and Survivors Insurance (OASI) trust fund by 2031. We estimate the theoretically combined Social Security OASDI Trust fund will run out of reserves by 2031.

That is not to mention the big divide in US society, and the ongoing Covid crisis, which is still not fixed in the US. But is largely fixed in China. Do you see the decline now? They have a big, big reason to be worried. A significant decline is coming for the US.

Posted by b on July 27, 2020 at 17:53 UTC | Permalink


james , Jul 27 2020 18:10 utc | 1

thanks for highlighting 'passer by's post b... i agree with them for the most part... it reminds me of a game of chess where pieces are being removed from the board.. it is a lose- lose, but ultimately, it is a bigger loss for the usa down the road... for whatever reason the usa can't see that the financial sanctions, bullying and etc, only go so far and others work around this as we see with russia, iran, venezuala and china in particular...

the one comment i would view differently then passer by is this one - "Unfortunately it is right that the Trump strategy of bullying works many times. Supposedly there should be costs for the US in soft power and world opinion, but we are not seeing them." i think the usa is losing it's position in terms of soft power and world opinion but you won't be reading about it in the western msm.. that is going to come out later after the emergence of a new reality is very clear for all to see... the trump strategy is really more of the same and it is like a medicine that loses it's power over time and becomes ineffective - sort of like antibiotics...

bob sykes , Jul 27 2020 18:20 utc | 2
There is a serious insurrection underway in the US, and it is between the children of the white elites. This insurrection has completely coopted Black Lives Matter, and BLM and its issues have faded into irrelevancy. The struggle among the white elites exemplifies Peter Turchin of excess elite production and the ensuing turmoil as elitistis struggle among themselves for power.

Most of the rioters are maoists, and when the winners take over the US will have a maoist dictatorship, complete with a Mao-communist and Green economy. If Russia and China merely stand aside, they will come to dominate the world.

ptb , Jul 27 2020 18:26 utc | 3
Quibble on the significance of US dollar; from the cited article "Roach is calling for the dollar to soon decline 35% against its major rivals". That would take the EURUSD back to its 2008 high. Not something that changes the balance of power.

But I think the rest of the story is true.

Certainly in the US we have everything we need to reverse our decline, build a better life for everyone living here, and stop trying to "compete" by sabotaging everyone else. Sadly zero sign of this being a priority on either side of the mainstream political spectrum.

oglalla , Jul 27 2020 18:27 utc | 4
Where does anyone get these numbers about military spend as a % of gdp? Have you listened to Katherine Austin Fitts on Corbett Report?
JohninMK , Jul 27 2020 18:27 utc | 5
UK life expectancy decline is pretty much down to bad diet and a growing number of fat and diabetic people. Plus those of us and our parents, who had rationing, organic and good diets prior to 1960 are starting to die off.
Christian J. Chuba , Jul 27 2020 18:32 utc | 6
Covid19 winners / losers as I mentioned an expert who writes for a financial publication made a reasonable list
Winner: Germany - will the rest of the EU notice that Germany has one of the closest relationships to China and that the countries closest to the U.S. are losers? (United Kingdom, France, Italy, Brazil, Mexico)

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Covid19 is starting to gut Iran again, I hope China (or Russia) step in to help them more ... https://ourworldindata.org/grapher/daily-covid-deaths-per-million-7-day-average?country=USA~IRN

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Trump has quit on Covid19 and is pretending to take it serious. I think the narrative of, 'a vaccine will be ready soon in the meantime compare it to automobile accidents' is still more or less the playbook. I'm not saying it is going to work, I just don't see anything serious going on other than posturing.

O , Jul 27 2020 18:34 utc | 7
In other words the western oligarchs will lose out to the eastern oligarchs in the Great Trade War under the cover of a fake pandemic.

Or perhaps the global oligarchs in general just want the world to follow more in the Chinese model where the population is more agreeable to total surveillance, social credit scores and even more out right fascistic government/corp model under the cover of a fake pandemic.

Kadath , Jul 27 2020 18:46 utc | 8
Re: James #1,

With respect to "bullying works", in international diplomacy it usually does since weaker powers have more to lose in a direct diplomatic crisis with a larger power. This is not to say that they won't push back, but they will be far more strategic in where they do. In essence, weaker powers have fewer "red lines" but they will still enforce those, while greater powers have more "red lines", because they have more power to squander on fundamentally insignificant issues. However, weaker states will still remember being abused and oppressed, so when the worms turns while they won't be the first to jump ship, they will be more than eager to pile on and extract some juicy retribution once it is clear they will not be singled out. I suspect the Germany will be the bellwether, when (if) Germany breaks from the US on a key aspect on the transatlantic relationship that will be the signal for others to start jumping ship. If Nordstream 2 go through, then there will be a break within 5 years; if Nordstream is killed, then the break might be delayed for 5 years or more but there will still be a break when the US pushes Germany to support the next major US regime change war in the Middle East.

Anonymous , Jul 27 2020 18:48 utc | 9
Well... Canadian analyst, David Prince, seems to think that currency is key, and the shift to the Euro from the USD is significant. "I've always felt that if you want to see where the big shifts are happening, it's at the currency level," he remarks.

We live on the same continent with this train wreck so, perhaps, have a vested interest in this topic.

https://www.bnnbloomberg.ca/video/investors-move-away-from-the-u-s-dollar-as-uncertainty-ramps-up-in-america-david-prince~2001753

On Roach's comments, when a Yale University senior fellow and former Morgan Stanley Asia chairman tells you that the USD is about to drop precipitously, you can bet he's working behind the scenes to make that exact event happen. Of course it's logical. He's part of the creation of the chain of logic.

O , Jul 27 2020 18:51 utc | 10
On Roach's comments, when a Yale University senior fellow and former Morgan Stanley Asia chairman tells you that the USD is about to drop precipitously, you can bet he's working behind the scenes to make that exact event happen. Of course it's logical. He's part of the creation of the chain of logic.
Posted by: Anonymous | Jul 27 2020 18:48 utc | 9

Bingo! Engineered collapse under the guise of a fake pandemic.

karlof1 , Jul 27 2020 18:54 utc | 11
Nice review. Recall Global Times reported China's GDP rose 3.2% in 2Q versus a 5-9% drop for Outlaw US Empire. Also recall the need to deal with Real GDP, not the falsified numbers provided by USG that count negatives as positives. The following are Shadowstats "Economic Headlines" :

"Second-quarter 2020 Real New Orders for Durable Goods plunged an annualized 55% (-55%), down 22% (-22%) year-to-year / June Cass Freight Index® continued bottom-bouncing, running counter to the 'recovered' Retail Sales / June Building Permits and Housing Starts saw some rebound in the month having collapsed respectively at annualized rates of 56% (-56%) and 76% (-76%) in the quarter / Not-credible inflation-adjusted headline June Retail Sales recovered pre-Pandemic levels in a stronger than expected real 6.9% monthly gain (nominal sales gain of 7.5% held just shy of recovery) / Contracting for the third consecutive quarter, second-quarter real Retail Sales fell at a 24.2% (-24.2%) annualized pace / On top of downside revisions, June Industrial Production gained 5.4% in the month, fell 10.8% (-10.8%) year-to-year, with Second-Quarter 2020 activity collapsing at a 42.6% (-42.6%) annualized pace, following a first quarter drop of 6.8% (-6.8%)."

From the sidebar comment of 23 July:

"Reporting of Deepest-Ever GDP Decline Looms on July 30th • Annualized 49.1% (-49.1%) Quarterly Plunge in Household Survey Employed Was Consistent With a Real Second-Quarter 2020 GDP Annualized Collapse of 50% (-50%) and Year-to-Year Drop of 16.1% (-16.1%) • Potential Third-Quarter 2020 GDP Annualized 20% Rebound Still Would Be Down 12.7% (-12.7%) Year-to-Year, Rivaling Great Depression Depths and Post-World War II Readjustment."

Although it's yet to be updated for 2Q figures, here's the GDP chart , which in Real Terms is worse than the blue line depicts

So, contrary to JR's assertions, the Outlaw US Empire is in economic freefall. And unless the eviction moratorium is extended nationally, a massive crisis awaits as noted by the article I linked to in the Week in Review thread. Add the fact that most of China's ASEAN trade partners have recovered from COVID while BRI Eurasian projects continue, China's economy will continue to grow, which is where its focus is at as reiterated almost daily by China's media and reported here.

As for the US Dollar, this William Pesek item reviews the many times it was predicted to drown but didn't, although this time may be different:

"More recently, Stephen Roach of Yale University has hit the speaking circuit to argue that the 'TINA defense' – 'there is no alternative' – is no longer operative.

"'If TINA is the dollar's only hope, look out below,' Roach wrote in a recent Bloomberg column . 'America's saving and current-account problems are about to come into play with a vengeance. And the rest of the world is starting to look less bad.

"'Yes, a weaker dollar would boost US competitiveness, but only for a while. Notwithstanding the hubris of American exceptionalism, no leading nation has ever devalued its way to sustained prosperity.""

There're others cited by Pesek who provide decent reasoning for downgrading the dollar which he balances against past history, thus leading to this conclusion:

"Yet the risk of a reckoning is rising along with awareness of how the Trump era is exacerbating all of America's imbalances, and creating new ones few could have predicted."

What's certain--a great many US citizens are going to experience incredible financial pain for a considerable length of time, which may or may not alter the basic political situation within the Outlaw US Empire.

Anonymous , Jul 27 2020 18:59 utc | 12
Also, on the subject of currency, a reminder that UK does not use the USD or the Euro, but the Pound Sterling, so sweeping them into talks of US decline or European growth based on currency is likely inaccurate.
Josh , Jul 27 2020 19:01 utc | 13
With all respect for the honest attention and detailed data analysis that goes into these, umm, assesments and communications...
The covid action is finished.
The attack was immediately contained, and neutralized.
The Eastern Alliance has not been deterred or defeated, and the Western Block is currently eating its own shit.
Frankly, they and their collaborators deserve it.
Will peace now be made, or will the obvious provocateurs make another push for whatever they thought they would gain by this (and other acts of aggression and terrorism)?
Andrei Martyanov , Jul 27 2020 19:01 utc | 14
2019 China 1,27 times bigger in GDP/PPP

Absolutely false numbers since actual Chinese economy is much larger than American one. With or w/o PPP adjustments. I would go out on a limb here and state that at this stage in 2020 real size of Chinese economy is about 2.5-3 times larger than that of the US. In other words--it already dwarfs US economy.

Military budget (before Covid estimates, Trump budget) 2019 3,2 % of GDP - 2030 2,5 % of GDP (Could drop to 2,3 % of GDP due to Covid)

These are also meaningless numbers since they do not account for actual military capability, especially when based on a fraudulent US GDP numbers. Within last 10 years China built surface fleet which in terms of hulls (and "freshness") rivals that of the US. US economy would have it bottom falling off if it tried to accomplish a similar task.

james , Jul 27 2020 19:04 utc | 15
@ 8 kadath... thanks... i see it much the same as you which is why i conclude that although it is a lose-lose in the short term, it works out differently in the long term... germany is a good country to focus on with nordstream... i can't see it working out long term for the usa at this point.. short term it might seem even, but longer term the one with the longer range vision which seems to be china here - is in the ascendancy... these are more bumps on the road to it's leadership into the later part of the 21st century.. @ 11 karlof1's post seems to back this up as well..
O , Jul 27 2020 19:10 utc | 16
The engineered collapse is being called the "Great Reset" by many outlets already. The covid nonsense is just a cover for it. Instead of Saudi Arabian terrorist it is a basically a harmless coronavirus. Just in the days immediately following 911 the "terrorist'' threat was so overhyped that security theater was employed everywhere. Now sanitation theater is the new act in town.
blum , Jul 27 2020 19:11 utc | 17
Where does anyone get these numbers about military spend as a % of gdp? Have you listened to Katherine Austin Fitts on Corbett Report?
Posted by: oglalla | Jul 27 2020 18:27 utc | 4

If you could dig through the linked Committee for a Responsible Federal Budge links for me. I'd appreicate it a lot. ;)
http://www.crfb.org/blogs/major-trust-funds-headed-insolvency-within-11-years

Long time not heard anything from Katherine. You feel I should check both her and Corbert on Gates, I suppose?

winston2 , Jul 27 2020 19:22 utc | 18
You're missing an elephant in the room.
Dr.Mark Skidmore confirmed by Catherine Austin Fitts discovered it by monitoring UST rollovers.
The US national debt is not the claimed $26.5trn, its somewhere between $90-$126trn from the rollover volume.
How that fraud was committed is still being investigated,could be as simple as duplicated UST issues with the same cuspids,but it puts a whole different complexion on USD viability.
karlof1 , Jul 27 2020 19:24 utc | 19
Article discussing political fallout from info provided @11.

Andrei @14--

Good to see your comment. Lots of anecdotal evidence nationwide about store closures and many vacancies in business centers, particularly within economic engines of NYC and elsewhere along the East Coast. IMO, lots of self-censorship by business media while the reality reported by Shadowstats goes ignored. As for losing the status of #1 economy, that was always going to occur once China or India became a moderately developed economy. It just happened that China is far more efficient politically which allowed it to become #1. And until India improves politically, it will continue to lag behind numerous smaller nations. Too bad there isn't a place where one can bet on the great likelihood that the Outlaw US Empire will outperform all nations in the production of Bullshit and Lies.

O , Jul 27 2020 19:25 utc | 20
Are We Heading for a Historic Economic Collapse? Why the U.S. GDP Could Fall by 40%.

"The most horrific number I've seen is J.P. Morgan economists' estimate that U.S. gross domestic product is collapsing at a 40% annual rate, a revision from their previous calculation of 25%. It has been said that economists use decimal points in their forecasts to show they have a sense of humor. These numbers are nothing to joke about."
https://www.barrons.com/articles/is-the-economy-going-to-crash-because-of-coronavirus-how-quickly-will-the-economy-revive-51586560301

If JP Morgan, Gold Sacks and other major asset managers are betting on this 'bear' you can be damn certain that they are doing everything in their power to make it a reality. They will shakedown every gutless, spineless politician/health official/scientist they can find to ensure their profits keep rolling in.

vk , Jul 27 2020 19:35 utc | 21
Yes, the conclusion we must take from this crisis is that the USA (and most of the West, if not all the West) is now declining in absolute terms, not only in relative ones. That's what makes this 2020 crisis special for the time period analyzed.

Relative decline is nothing special for the Americans. During the High Cold War itself (1945-1969), the USA itself declined relatively to Japan, which simply grew even more. You can even talk about a relative decline in relation to Germany during the same period, at least in some areas. The difference lied in the fact that Germany and Japan were minuscule countries under full military control and were fellow capitalist nations. When necessity came, the USA simply ordered both countries to value their currencies in relation to the USD and decades of geopolitical gain evaporated in five years. This is not the case with China.

But what fascinates me more is the flux of History. The USSR was better than China in almost every single relevant aspect in the 1950s-1960s, but it lost the Cold War because it had the bad luck to face the capitalist powers at their historical best. China, being much inferior, is being able to gain terrain over the capitalist powers for more than 40 years and counting for the simple fact they were able to survive and live to see capitalism in its decline.

That's why Putin correctly stated the end of the USSR was the biggest catastrophe of the 20th Century. If it could survive for mere 17 years more, it would've lived to face capitalism on all fours, after the 2008 meltdown, and get a second chance.

O , Jul 27 2020 19:56 utc | 22
China, being much inferior, is being able to gain terrain over the capitalist powers for more than 40 years and counting for the simple fact they were able to survive and live to see capitalism in its decline.
Posted by: vk | Jul 27 2020 19:35 utc | 21

I would say it was that China began opening itself up more to capitalist oligarchs and intergrating itself into the world economy beginning with the Nixon years. In particular the western oligarchs shipping their manufacturing base to china. That cheap Chinese labor was too hard to pass up.

The engine of capitalism is cheap labor, slave labor if possible.

Now China has a decent size consumerist/middle class which gives it the leverage along with the manufacturing. It not magic


Digital Spartacus , Jul 27 2020 20:03 utc | 23
Andrei @ 14

Exactly so. Anyone can massage those data points to say anything they want. And that is precisely what's being done by the USG. Since admitting that they are in decline is a non starter for them, these types of numbers are always trotted out. That isn't to say though, that everybody isn't massaging their numbers as well to cast them in a shining light for whomever the audience for which it is intended.

[Jul 26, 2020] Stress Test of a Straining Superpower

Jul 26, 2020 | www.theamericanconservative.com

How great a burden can even an unrivaled superpower carry before it buckles and breaks? We may be about to find out.

Rome was the superpower of its time, ruling for centuries almost the entirety of what was then called the civilized world.Great Britain was a superpower of its day, but she bled, bankrupted and broke herself in the Thirty Years War of the West from 1914-1945.

By Winston Churchill's death in 1965, the empire had vanished, and Britain was being invaded by a stream of migrants from its former colonies.

America was the real superpower of the 20th century and became sole claimant to that title with the collapse of the Soviet Union between 1989 and 1991, an event Vladimir Putin called "the greatest geopolitical tragedy of the 20th century."

Has America's turn come? Is America breaking under the burdens it has lately assumed and is attempting to carry?

Today, at the presidential library of Richard Nixon, who ushered Mao's China onto the world stage, Secretary of State Mike Pompeo is laying out a strategy of containment and confrontation of a China that is far more the equal of the USA than was the USSR.

Writes Hudson's Institute's Arthur Herman:

"In the 1960s, manufacturing made up 25% of U.S. gross domestic product. It's barely 11% today. More than five million American manufacturing jobs have been lost since 2000."

China controls the production of 97% of the antibiotics upon which the lives of millions of Americans depend. She provides critical components in the production chains of U.S. weapons systems.

Beijing commands more warships than the U.S. Navy and holds a trillion dollars in U.S. debt. Moscow never had this kind of hold on us.

Writes Herman: "Since 2000, America's defense industry has shed more than 20,000 U.S.-based manufacturing companies. As the work those companies once did domestically has shifted overseas, much of it has gone to China. From rare-earth metals and permanent magnets to high-end electronic components and printed circuit boards, the Pentagon has slowly become dependent on Chinese industrial output. Asia produces 90% of the world's circuit boards -- more than half of them in China. The U.S. share of global circuit-board production has fallen to 5%."

Decoupling from China and re-industrializing America would be an immense undertaking. But unless and until we do it, we remain vulnerable.

Another decades-long struggle, this time with China, like the Cold War that consumed so much of our attention and wealth from the 1940s to 1991, is not the only challenge America faces.

Through NATO, the U.S. is still the principal protector of almost 30 European nations. And despite Donald Trump's promise to end our forever wars, 8,500 U.S. troops remain in Afghanistan, 5,000 in Iraq, hundreds in Syria, thousands more in Kuwait and Bahrain.

There are other huge new claims on America's time, attention and resources. Some 145,000 Americans have perished in five months of the coronavirus pandemic, more U.S. dead than all the Americans soldiers lost in Korea, Vietnam, Iraq and Afghanistan.

A thousand Americans are dying every day, a higher daily death toll than in World War II and the Civil War combined.

The U.S. economy has been thrust into something approaching a second Depression. The 2020 deficit runs into the trillions of dollars. Our national debt is now far larger than our GDP and soaring. Tens of millions are unemployed. And the shutdowns are beginning anew.

From the protests, riots, rampages and statue-smashing of the last two months, it is apparent that millions of Americans detest our history and heroes. Though nowhere in recorded time have 42 million people of African descent achieved the measures of freedom and prosperity they have in the USA, we are daily admonished that ours is a rotten and sick society whose every institution is shot through with "systemic racism."

The racial divisions are almost as ugly as during the riots of the 1960s in Harlem, Watts, Newark and 100 cities that exploded after the assassination of Dr. Martin Luther King.

In the numbers of citizens now shot and killed every week, great American cities such as Baltimore, St. Louis, Detroit and Chicago are looking more like Baghdad.

The Democratic Party is promising to take up the issue of racial reparations for our original sin of slavery. The first order of business, we are told, is ending inequality -- of income, wealth, educational attainment and health care. The racial disparity in police arrests, prosecutions, incarcerations and school expulsions, must end.

But if the trillions we have spent to address these inequalities since the Great Society days have failed to make greater progress, why should we believe that we even know how to succeed, absent the imposition of a rigid socialist egalitarianism of results?

The Old Republic is facing a stress test unlike any it has known since the Union was threatened with dissolution in the Civil War.

Patrick J. Buchanan is the author of "Nixon's White House Wars: The Battles That Made and Broke a President and Divided America Forever."


peter mcloughlin 3 days ago

The greatest challenge for the US is avoiding war with China. "Decoupling" and "re-industrializing America" are, as Pat Buchanan says, not easy. Furthermore, both countries need to create jobs and wealth for their peoples – but also export markets. The aims of national prosperity have them on course for war. This is not a new cold war: it's worse. Today's China "is far more the equal of the USA than was the USSR". It is unwilling to abandon the strides it has made in the last forty years. Russia is weaker than its Soviet predecessor, yet has a massive nuclear arsenal. What it does not have today is a buffer zone, without which faces an existential threat in a war with NATO. History warns that when the core interests of nations (commercial or security) clash the outcome is war, in this case world war, unless those interests can be accommodated.

https://www.ghostsofhistory...

TheSnark 2 days ago

Many historians say that the Roman republic collapsed because the demands of running the empire it had built unleashed forces that the republican institutions could not contain. The result was several decades of unrest and civil war, ending with the imposition of one-man rule. While that maintained the empire, the old institutions of the republic, like the Senate, became hollow shells, only for show.

alan TheSnark 2 days ago

Does the current state of America remind you of Rome, between 235 and 285 AD?

TheSnark alan a day ago

More like 150 BC 100 BC. The empire was already there, but it was a huge strain on the institutions of the Republic. After 100 BC those strains resulted in massive unrest and outright civil war until Augustus finally consolidated one-man rule. After that, Rome as an empire lasted several more centuries. But it was no longer a Republic.

I just hope we can learn a bit from history and not make the same mistakes.

FL Transplant TheSnark 10 hours ago

"Running the Empire" and "Imperial Overreach" have little to do with the sorry state of America today. The defense budget is a small fraction of federal spending/GDP, especially when compared to the past 80 years. With a national grand strategy based on something other than "play ball with us or we'll ram the bat down your throat" we could reduce it further. The nuclear deterrant is surprisingly cheap, even as a portion of the defense budget. Our federal deficit and debt aren't due to defense spending.

Same with the domestic economy. Manufacturing has declined substantially as a percentage of the labor force--because weve gotten incredibly productive when compared to the past. SUre, we've lost millions of manufacturingjobs--because those jobs have been replaced by automation, productivity through JIT, supply chain management, the emphasis on quality that's essential for JIT and the Toyota Production System, and much better design. Losing manufacturing jobs is like complaining about all the phone operators and Yellow Pages printers who no longer have jobs.

If you want to complain about an inefficient industry that sucks the lifeblood out of the economy because of unneeded overhead, fragmented structure, and excessive costs you could begin with health care which consumes about 18% of the total GDP--greatly in excess of comparable economices which have better outcomes for theri reduced costs. You could adress how the economy is providing ever-increasing returns for an ever-diminishing slice of out population. You could address how predatory capitalism and financial engineering has become more important than actually producing goods and services. But doing all that would mark you as a leftist hell-bent on taking oaway our freedoms for some socialist state, no?

HVac Archon79 19 hours ago

Slavery has been over for five or six generations and tickets on a steamship or plane to Africa have been available the whole time.

T Clark 2 days ago

So, this is the greatest threat to the US since the Civil War. Greater than the Depression. Greater than World War II. Bologna. That one of the most prominant right-wing writers would say that shows the lack of perspective and seriousness of today's conservatives. The American Conservative is supposed to be the place I can go to hear reasonable arguments from a conservative perspective. In the past few months, many of it's usually credible writers have shown they are full of fear and bitterness as they thrash around wildly.

stephen pickard T Clark 2 days ago

And did you notice that Buchanan threw in his evil toxic immigration sickness when referring to Grest Britian. Surprised that he didn't make us more fearful of that continuing to happen here. No problem is too small to relate it to our immigration policies.

If we could just keep those people out of the US we could sleep at night. The biggie man is out side wanting to get into your bedroom.

HVac stephen pickard 19 hours ago

It would be "evil and toxic" for indigenous British to object to their systematic demographic replacement by third world worlders? Evil and toxic for the English to object to being dispossessed in their own homeland? Good to know. Note to self: if leftists say you should love being replaced by third worlders you should love being replaced by third worlders because reasons.

alan 2 days ago

All this country need do, first and foremost, is shed the pretensions of hegemonic primacy and Empire.

HVac 19 hours ago

" and Britain was being invaded by a stream of migrants from its former colonies."

Oh, it wasn't just invaded. The demographic replacement was gleefully enabled and encouraged by the white leftists, who hate their own race, genocidally despise non-leftist whites, and seek to enact some kind of sick, sadistic morality play of "revenge" and "payback" on their own race, based on the leftist kindergarten-level of understanding of history.

Something something something "only white people did slavery" or something. White leftists murdered the West, and they did it with a big psychotic grin on their face all the while believing they were doing the work of "justice".

No relative or even yourself, dying of cancer, could ever be sadder and more depressing than the front row seat we've had to the murder of the West. It wasn't a suicide, it was a murder. Hopefully China purges the white leftists and liquidates them. The white leftist may have vanquished their non-leftist white enemy, but they will not be permitted to rule over their LGBT polyglot totalitarian paradise for long. For this reason I look to China, they will one day slay the murderers of the West and bring them to justice. I can die in peace knowing that the white leftists will face ruination eventually, for their crimes.

Heng Onn 10 hours ago

https://news.harvard.edu/ga...

Time is not on America's side. The entire nation has been destroyed from within. It is fragmented, disillusioned and impoverished. Wealth is controlled by 1% and congress is run like a circus. This is in contrast to China where the majority of the people are Han Chinese who are unified behind the Beijing government especially due to the belligerence of the Trump regime. When asked for their choice of US consulate to close, most Chinese chose Hong Kong. It is seen as a CIA hornet nest, responsible for the destabilization and subversion of Hong Kong. America cannot compete against China. This is why Pompeo is urgently provoking war against China. It is America's only hope. If it can launch a preemptive nuclear strike on China, that will remove America's worst nightmare.

HVac Heng Onn 9 hours ago

You support the abortion holocaust. Leftists/liberals have murdered 60 million pre-born babies since their activist judges gave women a license to kill their children:

This is the true morality of the caring, diversity and human rights supporting left, look at it, look at leftism:

Dr.Diprospan 8 hours ago

I don't think America is more rotten and sick than any other country in the world.

Perhaps Patrick Buchanan is simply accepting the fight for illness.

History was taught to me as the unity and struggle of opposites, as a continuous struggle for power between progressive and reactionary (conservative) forces, as a change of day and night. The current moment in history is more like twilight or dawn, thanks to the diversity, mosaicism, ambiguity of society, both in the United States and in other countries of the world.

The unfolding political struggle between the American Democrats and the Republicans created their own fans for each of the parties in different countries.

Russia and China are no exception: in both countries there are forces that sympathize with both American Republicans and Democrats.

I remember the beginning of Donald Trump's presidency by promises to make America great again, to get along with the Russians, to drain the swamp.

Indeed, President Trump has noticeably revitalized the national economy. he initiated a reformatting in trade with China, lowered the degree of confrontation with Russia.

The question is how he wanted to drain the swamp and not get sick with swamp fever? All efforts of Donald Trump have gone to waste due to the coronavirus pandemic.

Former Russian President Medvedev, now holding the post of Assistant to the President for National Security, recently said that he fears a full-scale nuclear war because of the activities of some biological laboratories.

His words reminded me of the dark story of the virology laboratory in Wuhan, which was overseen by an American Harvard professor.

Something tells me that this professor was not a Republican and an ardent supporter of the current president of America ..

[Jul 26, 2020] Alan Sabrosky thinks that America Headed for Civil War, by Kevin Barrett

Jul 26, 2020 | www.unz.com

Piglet , says: July 26, 2020 at 1:45 pm GMT

@American Citizen 2.0 new cars, etc. Life in America was fantastic. Everyone got air conditioning and new TVs. We launched the "Great Society" programs and lifted tens of millions of people out of poverty.

I lived through that era and saw something very different. It was a time of tremendous cultural conflict and there are those who say we came close to having a civil war within the country. There were massive demonstrations in Washington and, when MLK was shot, cities all across the country went up in flames. As for the Great Society, ghettos remained ghettos, as the nature of orcs had not changed, despite how much taxpayer money was thrown at the orcs.

Anonymous [191] Disclaimer , says: July 26, 2020 at 2:29 pm GMT
@American Citizen 2.0 ds up, don't shoot" allowing Antifa and BLM combatants to do what's been working so well in the cities? My guess is the first order of business once Biden abjures to his homicidally anti-White black female VP will be deputizing, not the police, but leftover ACORN, Black Panther, BLM, and Antifas according to Obama's announcement that we will get a domestic "security force" as well armed, as numerous, and as well-funded as the military's 1.1 million members. One thing I picked up from Camp of the Saints is the strategy of using indoctrinated school children to line the streets during the invasions, waving BLM flags and their little essays denouncing themselves and their parents as not worth living.
KenH , says: July 26, 2020 at 2:35 pm GMT

Sabrosky said that people like Mattis, McMaster and General Kelly could have helped Trump better handle the rioting but he needs to explain himself since Mattis sided with the rioters and I wouldn't be surprised if the other two did as well. Most of the U.S. military brass is corrupt and partially woke evidenced by their war on confederate symbols and need to hang in the gallows.

Barrett's claim that whites shouldn't get all worked up about black on white crime because the vast majority of crime is black on black ignores the fact that when it comes to interracial crimes 83% is black on white and adjusted for population percentages blacks are over 20 times more likely to commit a violent crime against whites.

On average blacks commit just over 500K violent crimes against whites every year while whites commit less than 100K against blacks. This trend has persisted for decades so it's impossible to ignore nor should we. If this metric was reversed then every left wing politician and left wing media outlet would be screaming from the rooftops.

Or as shown in the updated, 2016 Color of Crime Report by Amren:
In 2013, of the approximately 660,000 crimes of interracial violence that involved blacks and whites, blacks were the perpetrators 85 percent of the time. This meant a black person was 27 times more likely to attack a white person than vice versa. A Hispanic was eight times more likely to attack a white person than vice versa.
https://www.amren.com/archives/reports/the-color-of-crime-2016-revised-edition/

[Jul 25, 2020] the Minsky moment, which can kill the empire

Jul 25, 2020 | www.zerohedge.com

TeraByte , 14 hours ago

"Even if Biden beats Trump in November, efforts to curb US military spending will face continuing bi-partisan resistance."
This however is the Minsky moment, which can kill the empire, prioritizing warfare = War Communism that killed the Soviet. US cannot avert such a fate and a collapse may be as rapid and spectacular. AOC´s 12 year's dead line was a laugh, but this one much closer is a real challenge. You cannot have a functional society largely based on activities of blowing up other nations´ citizens.
Killing one Daesh terrorist required one ton explosives. How about air delivery cost, all other items plus sundries. This is the game, where everything citizens can contribute vanishes into one single black hole where nothing becomes retrievable ever after.

[Jul 21, 2020] Why We Shouldn't Believe Polling About Trump by Lord Pettigrew

Highly recommended!
If not this also about conformism? Social desirability == conformism.
Notable quotes:
"... Mark Twain is credited with introducing into the American vernacular the phrase, "Lies, damned lies and statistics." One of the pervasive damned lies people take for granted is the results of political polls, especially in the Trump era. Most polls show him behind several of the myriad candidates vying to represent Democrats in the 2020 election. But the American Association for Public Opinion Research confirms that "national polls in 2016 tended to under-estimate Trump's support significantly more than Clinton's." ..."
"... Social desirability is a concept first advanced by psychologist Allen L. Edwards in 1953. It advances the idea that when asked about an issue in a social setting, people will always answer in a socially desirable manner whether or not they really believe it. Political polling, whether by telephone or online, is a social setting. Respondents know that there is an audience who are posing the questions and monitoring their response. As a result, despite a respondent's true belief, many will answer polling questions in what may appear to be a more socially desirable way, or not answer at all. ..."
Jul 21, 2020 | www.zerohedge.com

Why We Shouldn't Believe Polling About Trump

Authored by Lord Pettigrew, op-ed via Townhall.com,

Many conservatives are concerned about polling results regarding conservative issues, especially about President Trump. For example, the latest CNN poll found that 51% of voters believe the president should be impeached. How much credence should conservatives give these polls?

Mark Twain is credited with introducing into the American vernacular the phrase, "Lies, damned lies and statistics." One of the pervasive damned lies people take for granted is the results of political polls, especially in the Trump era. Most polls show him behind several of the myriad candidates vying to represent Democrats in the 2020 election. But the American Association for Public Opinion Research confirms that "national polls in 2016 tended to under-estimate Trump's support significantly more than Clinton's."

We are inundated with the latest polling on President Trump's approval rating and how people are likely to vote in the 2020 election. Both bode poorly for the president, but he doesn't believe them and neither should we. As an academic, I ran a research center that conducted local, state-wide and national public opinion polls and took a year's leave of absence from my university to work for Lou Harris, founder of the Harris Poll.

Social Desirability

The reason why we shouldn't believe most of the current or future polling results about President Trump can be summarized in two words: Social Desirability.

Social desirability is a concept first advanced by psychologist Allen L. Edwards in 1953. It advances the idea that when asked about an issue in a social setting, people will always answer in a socially desirable manner whether or not they really believe it. Political polling, whether by telephone or online, is a social setting. Respondents know that there is an audience who are posing the questions and monitoring their response. As a result, despite a respondent's true belief, many will answer polling questions in what may appear to be a more socially desirable way, or not answer at all.

When it comes to President Trump, the mainstream media and academics have led us to believe that it is not socially desirable (or politically correct) to support him. When up against such sizable odds, most conservatives will do one of three things:

1) Say we support someone else when we really support the president (lie);

2) tell the truth despite the social undesirability of that response;

3) Not participate in the poll (nonresponse bias).

This situation has several real consequences for Trump polling. First, for those in the initial voter sample unwilling to participate, the pollster must replace them with people willing to take the poll. Assuming this segment is made up largely of pro-Trump supporters, finding representative replacements can be expensive, time-consuming and doing so increases the sampling error rate (SER) while decreasing the validity of the poll. Sampling error rate is the gold standard statistic in polling. It means that the results of a particular poll will vary by no more than + x% than if the entire voter population was surveyed. All else being equal, a poll with a sampling error rate of + 2% is more believable than one of + 4% because it has a larger sample. Immediate polling on issues like President Trump's impeachment may provide support to journalists with a point of view to broadcast, but with a small sample and high sampling error rates, the results aren't worthy of one's time and consideration.

Some political pollsters often get around the necessity of repeated sampling over the course of an election by forming a panel of people who match the demographics (party affiliation, age, gender, race, location, etc.) of registered voting public. Polling companies often compensate panel members and use them across the entire election cycle. Such panels are still subject to the effects of social desirability and initial substitution error.

Interpretive Bias

Another factor to consider is the institution that is conducting the poll and those reporting the data. Their progressive sensibilities are thumbing the scale of truth. In my experience, polls conducted by media companies are less credible since they are often guilty of the same biases seen in their news reports. The perfect example of this is The New York Times's " Poll Watch ," which provides a weekly review of their political poll. My experience is that it reflects strongly the Times's negative opinions about President Trump and conservative ideas and the paper's heavy political bias.

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Even the Harris Poll, when Lou was alive, suffered somewhat from this bias. Lou Harris was the first person to conduct serious political polling on a national level and is credited with giving John Kennedy the competitive advantage over Richard Nixon in the 1960 election. He made political polling de require for future elections. While many people point to Nixon's twelve o'clock shadow during the televised debate, Harris gave Kennedy the real competitive advantage -- a more complete grasp of what issues voters thought were most important and how to tailor his policy pitches toward that end.

I worked for Lou between 1999-2000. During the election season we would get the daily tab read-outs. While the results were pristine, Lou would interpret those numbers on NPR and in other media in a way that showed his clear Democrat bias. His wishful thinking that Al Gore would beat George W. Bush would color his interpretation of what the numbers meant. In the end, by a razon thin margin, Bush took the White House and Gore was relegated to inconvenient environmental truths. Similarly, the 2016 election saw Trump beat favorite Hillary Clinton by a significant electoral margin, despite the vast majority of polls giving Mrs. Clinton the edge by between 3-5%.

Where We Go from Here

Public opinion polling is generally not junk science although with some companies it can be. Companies like Gallup and Pew consistently do a good job of chronicling political opinion in America. At issue is the fact that these polling stalwarts don't work for media companies and use large national samples from current voter rolls; they also tend to not put their thumbs on the interpretation of data. President Trump is a president unlike any other and most of his supporters don't participate in political polls. Even Trump's own pollsters were surprised by his 2016 win. We would do well during these fractured times to ignore political opinion polls for they will continue to be much to do about nothing.

Just be sure to vote your conscience and that is nobody's opinion but your own. AntiSocial , 5 hours ago

The polls are skewed, intentionally by the pollsters and unintentionally by anyone with the common sense not to identify as a Trump supporter.

Would you tell the Nazi Party questioner you were anti - Nazi? How do you feel about Josef Stalin might be the last question someone would ever answer. Trump people have an overwhelmingly justified reason to keep it to themselves. Especially in the age of digital record keeping, and Neo fascism on the Left.

Trump vs: a man whose brain is dying should be a landslide, and could be. BUT the democrats have succeeded in making the entire population sick to death of hearing about Trump Is The Devil.

People en masse are not very intelligent and generally do what everyone else is doing, whatever it is. This time they may know instinctively that the Biden regime will be American history's biggest failure but they just don't want to hear about Trump anymore, or Covid, or BLM, and will vote for Biden making just hoping to make it all go away. After that they will find that when you make mistakes on purpose you usually get what you deserve.

Hawkenschpitt , 6 hours ago

There is another bias besides the article's "interpretive bias." I call it "assumption bias."

I am one of those whom Pew samples on a regular basis, and across a wide range of issues. In responding to their queries, I have in the back of my mind how I perceive my responses are going to show up in the aggregations and the public reporting. It certainly is a consideration when the survey question is double-edged. For example, given a series of questions surrounding my perceptions of "climate change" overlooks the wide variance of what is exactly meant by climate change: are the questions related to the natural dynamism of the earth's climate, or are they surrogates for Anthropogenic Global Warming? Their questions assume an agreed-upon definition, and my responses will vary, depending upon what I perceive to be the underlying basis to the series of questions. This introduces a bias in my responses.

A recent poll had a series of questions about my activities during these coronavirus lock-downs: e.g. how does the lock-down affect various of my activities (charitable donations, volunteer services, neighborly assistance)? Do I do more? Less? About the same? The wording of the questions shows that they had made an underlying, but false, assumption that the coronavirus affects my actions.

At the end of every Pew survey, they ask whether I perceived bias in the questions; they also allow comments on the survey. I take them to task when I encounter these kind of things. I can only hope that they take my remarks under consideration for their next efforts.

Homer E. Rectus , 6 hours ago

This article spends most of its words trying to convince us that polls are junk science and then says Pew and Gallup are not. How are they not also junk if they fail to get truthful answers?

isocratic , 6 hours ago

You have to be really special to trust polls after 2016.

Im4truth4all , 9 hours ago

Polls are just another example of the propaganda...

DrBrown314 , 10 hours ago

Public polls have been rubbish for decades. They average a 0.9% response rate. That is not a random sample folks. If only 1 person in 100 will agree to take a poll you have a self selecting sample. Pure garbage. The pollsters have resorted to using "invitation" polling on the internet and claim this is a probability sample. It is not. It too is rubbish. But you already knew that because of what the polls said in 2016 and what actually happened. qed.

Alice-the-dog , 10 hours ago

Not to mention that I'm sure there are many like me, who has lied profusely in answer to every polling call I've gotten ever since I became eligible to vote in 1972. In fact, I strongly suspect that Trump voters are the most likely demographic to do so.

The Herdsman , 11 hours ago

Bottom line; the polls are fake. We already saw this movie in 2016, we know how it ends. Back in 2016 you might be fooled by the polls but we already know empirically that they are rigged. We literally saw it all with our own eyes.... never let anyone talk you out of what you saw.

Ex-Oligarch , 11 hours ago

This article gives way too much credit to the pollsters.

Polls are constructed to produce a desired result. The respondents selected and the questions asked are designed to produce that result.

If they do not produce that result, the data can be altered. No one polices this sort of manipulation, formally or informally.

Adding spin to the result when it is "interpreted" is only the last step. The narrative promoted in this article that pollsters are honest social scientists carried away by unconscious biases is a crock.

We have seen articles blaming the respondents for the failures of pollsters over and over again. This narrative that Trump voters are ashamed of supporting him and so lie to the pollsters is just more spin designed to make republicans look insincere, amoral and devious.

Hook-Nosed Swede , 12 hours ago

Mark Twain was quoting Benjamin Disraeli and admitted he wasn't sure the PM actually ever used that phrase. Incidentally, Twain threw his Confederate uniform away and headed West in the middle of America's Civil War. I don't see support for Jefferson Davis or Abraham Lincoln there.

whatisthat , 12 hours ago

I would observe every intelligent and experienced person knows that political based polling data is suspect to corruption and used as propaganda...

hootowl , 13 hours ago

Political and media polls are used to persuade people to vote for the demonunists by purposely exaggerating the numbers of demonunists in their polling samples to deceive the public in order to try to swing the vote to the demonunists and/or to dissuqade conservatives into believing it is futile to vote because the demonunists are too numerous to overcome.

Ignore the political polls because they are largely conducted by paid liars, manipulators, and propagandists. The 2020 presidential election is easy to assess. Do you want to elect a senile, old , treasonous, crook and his family into the WH; or a man, who may, at times make you a little upset with his abrasive rhetoric, but can be trusted to do what he thinks is best for his fellow Americans, while he is continuously beset by the worst political cadre of communists, demonunists, lying MSM/academia, and anti-American deep state crooks in the history of our great republic.

Gold Banit , 13 hours ago

This is the end for the corrupt racist DemoRat party.

The DemoRats and their fake news media are in a panic and are very desperate and this is why they are promoting this rioting looting destroying and burning cause their internal polling has Trump wining 48 states in a landslide....

[Jul 19, 2020] Neoliberal globalization (globohomo) and its three defining features

Jun 27, 2020 | neznaika-nalune.livejournal.com
Over the past 10 years, several main theses of the agenda of globalism in its new form have been formed. This is not an official doctrine, but rather a marker of the definition of "friend-foe" for an ideology sometimes called "GloboHomo". It stands for "globalized, homogenous", not what you thought. If you do not like this term, it is possible to use a more euphonious expression of "Fucking Scum". So, among the most important components are the following:
  1. "Global warming", often replaced by "climate change" in cases where it is associated with abnormal cold or flooding. This can only be discussed in disastrous terms. Humanity faces a terrible future if we do not drastically reduce carbon dioxide emissions in the near future, do not invest trillions of subsidies in "green energy", and do not reduce the consumption of animal proteins and industrial goods. Any deviation from the genral line - that the rate of warming may be significantly less than stated, that there may be important factors other than anthropogenic contributing to climate change, or that funds may be more effectively invested in coping with the effects of warming rather than preventing it-is anti-scientific heresy, and should be subject to maximum censorship.
  2. LGBT Rights, maximum gender fluidity. "Tolerance" in the true meaning of this word is no longer sufficient, and a neutral attitude towards LGBT people is equated with hidden homophobia and "transphobia". LGBT people only need to be touched and admired, you can not criticize any aspects of the LGBT lifestyle. Any psychological or social problems specific to the LGBT community should be explained by homophobia and transphobia on the part of the rest of society, but not by internal problems of the LGBT community itself.
  3. Refugees and freedom of immigration from poor countries . Rich and middle-developed countries should not prevent formally illegal migration from underdeveloped countries. Purely economic migration should be defined as much as possible through political, religious or national persecution. The own poor (if they are not special minorities) should not have an advantage over migrants in obtaining social benefits. Middle-class taxpayers are required to fork out substantial subsidies to migrants, often allowing them to stay out of work most of the time or even for life. National or racial profiling or the collection of statistics that may indicate increased problems with crime, dependency or family violence in a migrant environment should not be encouraged. The desire to preserve the traditional national culture and national composition must be equated with racism or even fascism. Migrants should not be forced to integrate quickly into the local culture.

These are General trends, and individual stormy movements like " Me Too "and" Black Lives Matter " fit into them.

This agenda, with a pronounced left-wing bias, is relatively recent, about 10 years old. The above theses have existed much longer, but until recently they were not the main mainstream markers of globalism. And 20 years ago, the globalist agenda was radically different. From about the early 80's to the mid-noughties, this agenda consisted of theses more generally known as the"Washington Consensus". It contains about 10 theses, but we can briefly distinguish three main topics:

  1. Privatization, maximum withdrawal of the state from the economy. Everything state-owned is inefficient, only an "effective private owner" can make the right economic decisions.
  2. Reducing social spending. Only "individual responsibility" allows full disclosure of human potential, state assistance is ineffective and breeds dependency.
  3. Financialization , maximum development of financial markets. Capital markets are the main or even the only judges of all economic and political decisions. They need to be cajoled as much as possible as ancient deities, including sacrificing a large part of the population that "did not fit" into these markets.

This is a very different, clearly right-wing agenda. The "Washington Consensus" is almost forgotten now. Its collapse actually occurred at the turn of the 90s and the nineties , in particular after the Russian default of 1998, and especially after Russia, instead of a complete collapse, experienced rapid growth according to recipes very different from the "Washington Consensus" of the 90s.

In 2001, in Argentina, which was considered an "exemplary student" of the "Washington Consensus", an even larger default and collapse than in Russia (and according to a scenario close to the Russian one), and the subsequent recovery from the crisis also occurred according to very different recipes. The "left turn", with the abandonment of the VC in the early nineties occurred almost throughout Latin America.

After the financial crisis of 1997-8, many Asian countries also changed their policy towards leaving the VC. Soon, even under the Republican administration of George W. Bush, protectionist tendencies and rejection of the liberal prescription of the 80-90's intensified in the United States itself.

Despite radical differences, these groups of three theses have a common goal-to undermine and dilute the industrial society of Modernism, which reached its highest point around the 1960s and 70s, and to try to create a postmodern society based on the models of globalists.

The direction of attack changed radically-first to the right, then to the left.

You can explain these trends by a conspiracy of globalists, but the main reasons are the internal socio-economic cycles of Western society - what I call the transition from the " bourgeois "phase to the" Bohemian "(and then "bandit"). But I will write about this separately.

[Jul 19, 2020] Welcome To The Crazed, Frantic Demise Of Finance Capitalism by Charles Hugh Smith

Notable quotes:
"... Just as Communism was a god that failed, finance capitalism is also a god that failed , an extreme version of crony-capitalism that is nothing more than a mechanism for concentrating wealth and power at the expense of everyone toiling in the real-world economy. ..."
"... Unfortunately for everyone invested in the scam, all the "wealth" created by financial engineering / legalized fraud is fictitious, i.e. phantom. All Ponzi schemes collapse once the supply of greed-blinded marks dries up, and so the "solution" in our finance capitalism fraud is for the central bank, the Federal Reserve, to become the mark with an infinite checkbook : the Fed is busily conjuring "money" out of thin air to buy corporate junk bonds and other "assets" (ha-ha, as if these are actually worth anything--the joke's on you) to prop up the Ponzi scheme. ..."
Jul 19, 2020 | www.zerohedge.com

Authored by Charles Hugh Smith via OfTwoMinds blog,

The cognitive dissonance required to ignore the widening gap between the real economy and the fraud's basic machinery--speculation funded by "money" conjured out of thin air--has reached a level of denial that can only be termed psychotic.

When scams start unraveling, the scammers become increasingly frantic to maintain the illusion of legitimacy and the delusion of guaranteed gains that are the lifeblood of every scam. One sure sign that the flim-flam is about to collapse is the manic rise of FOMO, fear of missing out , as the scammers jam the Ponzi scheme's stellar returns to new extremes.

What greedy human can resist guaranteed gains , especially of the enviously grandiose variety?

The greatest scam of the past century is unraveling before our eyes. I'm calling it finance capitalism as a general descriptor of the dominant form of what's called "capitalism" because calling it what it actually is-- a fraud that's destroyed the foundations of our economy and society --is, well, a much more difficult sell than "capitalism," which still has some faint echoes of the open markets, etc. that characterized traditional capitalism, which I call naive capitalism because it is incapable of differentiating between the parasitic, predatory finance version cloaking itself as "capitalism" and actual capitalism, in which capital is put at risk, markets are transparent, etc.

There are many labels for the distorted, corrupted "capitalism" that dominates our economy and society: I've long used state-cartel capitalism, others prefer monopoly capitalism or crony capitalism.

I now favor finance capitalism because the heart of the fraud is finance: printing "money" out of thin air without creating any value or any goods and services. If you can't print "money," then borrow it into existence--that's just as profitable a fraud as printing it.

As I explained in Our Wile E. Coyote Economy: Nothing But Financial Engineering (June 11, 2020), the fairy tale that America has a truly capitalist economy no longer aligns with the reality that the U.S. economy is now a decaying billboard of "producing goods and services" behind which the real money is made in financial engineering, a.k.a. legalized fraud.

I've discussed this fraudulent distortion of capitalism for years:

Just as Communism was a god that failed, finance capitalism is also a god that failed , an extreme version of crony-capitalism that is nothing more than a mechanism for concentrating wealth and power at the expense of everyone toiling in the real-world economy.

And if we understand this, then we also understand that with its stock buybacks, high-frequency trading and after-hours manipulation, the stock market is nothing more than finance capitalism's primary mechanism for increasing the concentration of wealth.

How did outright fraud come to dominate our economy? The answer is simple: infinite greed plus the decline of gains from "real capitalism," i.e. increasing productivity via producing goods and services. The appeal of something for nothing is irresistible when "money" can be printed / borrowed out of thin air and used to run a fraud that exploits human greed.

Like every good Ponzi scheme, those invested in the scam promote the fraud and cajole new marks to sink their cash into the "guaranteed gains" scheme because everyone already in the fraud will lose if there aren't enough new marks joining to keep it from collapsing. That perfectly describes the entire financial media, the financial "industry" and everyone in it.

Unfortunately for everyone invested in the scam, all the "wealth" created by financial engineering / legalized fraud is fictitious, i.e. phantom. All Ponzi schemes collapse once the supply of greed-blinded marks dries up, and so the "solution" in our finance capitalism fraud is for the central bank, the Federal Reserve, to become the mark with an infinite checkbook : the Fed is busily conjuring "money" out of thin air to buy corporate junk bonds and other "assets" (ha-ha, as if these are actually worth anything--the joke's on you) to prop up the Ponzi scheme.

This works until it doesn't, of course. In the meantime, the folks running the fraud are pulling out all the stops to keep it from imploding--goosing the FOMO frenzy, printing and throwing trillions into the scam to maintain the illusion of legitimacy and the delusion of guaranteed gains and talking up the god-like powers of the Fed to prop up the fraud indefinitely.

Despite these massive manipulations, the cracks are increasingly visible. Volatility refuses to sink back to near zero, and the swings in the skimming machine, a.k.a. the stock market are becoming more extreme.

The cognitive dissonance required to ignore the widening gap between the real economy and the fraud's basic machinery--speculation funded by "money" conjured out of thin air-- has reached a level of denial that can only be termed psychotic.

All bubbles pop, all frauds implode, all scams collapse. That ominous clicking coming from behind the tattered billboard is the sound of dominoes falling.

As Mark, Jesse and I discuss in Salon #13: The "Phase Shift" everyone is worried about has already happened , the meteor triggering the demise of finance capitalism has already hit.

All that's left is the psychotic state of denial and the evaporation of phantom capital.

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[Jul 19, 2020] The Global Reset Unplugged -The Deep State by Peter Koenig

Notable quotes:
"... In addition to the key international financial institutions, WB and IMF, there are the so-called regional development banks and similar financial institutions, keeping the countries of their respective regions in check. ..."
Jul 18, 2020 | www.zerohedge.com
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Authored by Peter Koenig via GlobalResearch.ca,

Imagine, you are living in a world that you are told is a democracy – and you may even believe it – but in fact your life and fate is in the hands of a few ultra-rich, ultra-powerful and ultra-inhuman oligarchs. They may be called Deep State, or simply the Beast, or anything else obscure or untraceable – it doesn't matter. They are less than the 0.0001%.

For lack of a better expression, let's call them for now "obscure individuals".

These obscure individuals who pretend running our world have never been elected . We don't need to name them. You will figure out who they are, and why they are famous, and some of them totally invisible. They have created structures, or organisms without any legal format. They are fully out of international legality. They are a forefront for the Beast. Maybe there are several competing Beasts. But they have the same objective: A New or One World Order (NWO, or OWO).

These obscure individuals are running, for example, The World Economic Forum (WEF – representing Big Industry, Big Finance and Big Fame), the Group of 7 – G7, the Group of 20 – G20 (the leaders of the economically" strongest" nations). There are also some lesser entities, called the Bilderberg Society, the Council on Foreign Relations (CFR), Chatham House and more.

The members of all of them are overlapping. Even this expanded forefront combined represents less than 0.001%. They all have superimposed themselves over sovereign national elected and constitutional governments, and over THE multinational world body, the United Nations, the UN.

In fact, they have coopted the UN to do their bidding. UN Director Generals, as well as the DGs of the multiple UN-suborganizations, are chosen mostly by the US, with the consenting nod of their European vassals – according to the candidate's political and psychological profile. If his or her 'performance' as head of the UN or head of one of the UN suborganizations fails, his or her days are counted. Coopted or created by the Beast(s) are also, the European Union, the Bretton Woods Organizations, World Bank and IMF, as well as the World Trade Organization (WTO) – and – make no mistake – the International Criminal Court (ICC) in The Hague. It has no teeth. Just to make sure the law is always on the side of the lawless.

In addition to the key international financial institutions, WB and IMF, there are the so-called regional development banks and similar financial institutions, keeping the countries of their respective regions in check.

In the end its financial or debt-economy that controls everything. Western neoliberal banditry has created a system, where political disobedience can be punished by economic oppression or outright theft of national assets in international territories. The system's common denominator is the (still) omnipresent US-dollar.

"Unelected Individuals"

The supremacy of these obscure unelected individuals becomes ever more exposed. We, the People consider it "normal" that they call the shots, not what we call – or once were proud of calling, our sovereign nations and sovereignly elected governments. They have become a herd of obedient sheep. The Beast has gradually and quietly taken over. We haven't noticed. It's the salami tactic: You cut off slice by tiny slice and when the salami is gone, you realize that you have nothing left, that your freedom, your civil and human rights are gone. By then it's too late. Case in point is the US Patriot Act. It was prepared way before 9/11. Once 9/11 "happened", the Patriot Legislation was whizzed through Congress in no time – for the people's future protection – people called for it for fear – and – bingo, the Patriot Act took about 90% of the American population's freedom and civil rights away. For good.

We have become enslaved to the Beast. The Beast calls the shots on boom or bust of our economies, on who should be shackled by debt, when and where a pandemic should break out, and on the conditions of surviving the pandemic, for example, social confinement. And to top it all off – the instruments the Beast uses, very cleverly, are a tiny-tiny invisible enemy, called a virus, and a huge but also invisible monster, called FEAR. That keeps us off the street, off reunions with our friends, and off our social entertainment, theatre, sports, or a picnic in the park.

Soon the Beast will decide who will live and who will die, literally – if we let it. This may be not far away. Another wave of pandemic and people may beg, yell and scream for a vaccine, for their death knell, and for the super bonanza of Big Pharma – and towards the objectives of the eugenicists blatantly roaming the world – see this . There is still time to collectively say NO. Collectively and solidarily.

Take the latest case of blatant imposture. Conveniently, after the first wave of Covid-19 had passed, at least in the Global North, where the major world decisions are made, in early June 2020, the unelected WEF Chairman, Klaus Schwab , announced "The Great Reset". Taking advantage of the economic collapse – the crisis shock, as in "The Shock Doctrine" – Mr. Schwab, one of the Beast's frontrunners, announces openly what the WEF will discuss and decide for the world-to-come in their next Davos Forum in January 2021. For more details see this .

Will, We, The People, accept the agenda of the unelected WEF?

It will opportunely focus on the protection of what's left of Mother Earth; obviously at the center will be man-made CO2-based "Global Warming". The instrument for that protection of nature and humankind will be the UN Agenda 2030 – which equals the UN Sustainable Development Goals (SDG). It will focus on how to rebuild the willfully destroyed global economy, while respecting the ("green") principles of the 17 SDGs.

Mind you, it's all connected. There are no coincidences. The infamous Agenda 2021 which coincides with and complements the so-called (UN) Agenda 2030, will be duly inaugurated by the WEF's official declaration of The Great Reset, in January 2021. Similarly, the implementation of the agenda of The Great Reset began in January 2020, by the launch of the corona pandemic – planned for decades with the latest visible events being the 2010 Rockefeller Report with its "Lockstep Scenario" , and Event 201, of 18 October in NYC which computer-simulated a corona pandemic, leaving within 18 months 65 million deaths and an economy in ruin, programmed just a few weeks before the launch of the actual corona pandemic. See COVID-19, We Are Now Living the "Lock Step Scenario" and this and this .

The Race Riots

The racial riots, initiated by the movement Black Lives Matter (funded by the Ford Foundation and Soros' Open Society Foundation), following the brutal assassination of the Afro-American George Floyd by a gang of Minneapolis police, and spreading like brush-fire in no time to more than 160 cities, first in the US, then in Europe – are not only connected to the Beast's agenda, but they were a convenient deviation from the human catastrophe left behind by Covid-19. See also this .

The Beast's nefarious plan to implement what's really behind the UN Agenda 2030 is the little heard-of Agenda ID2020 . See The Coronavirus COVID-19 Pandemic: The Real Danger is "Agenda ID2020" . It has been created and funded by the vaccination guru Bill Gates, and so has GAVI (Global Alliance for Vaccines and Immunizations), the association of Big Pharma – involved in creating the corona vaccines, and which funds along with the Bill and Melinda Gates Foundation (BMGF) a major proportion of WHO's budget.

The Great Reset, as announced by WEF's Klaus Schwab , is supposedly implemented by Agenda ID2020. It is more than meets the eye. Agenda ID2020 is even anchored in the SDGs, as SDG 16.9 "by 2030 provide legal [digital] identity for all, including free birth registration" . This fits perfectly into the overall goal of SDG 16: " Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels ."

Following the official path of the UN Agenda 2030 of achieving the SDGs, the 'implementing' Agenda ID2020 – which is currently being tested on school children in Bangladesh – will provide digitized IDs possibly in the form of nano-chips implanted along with compulsory vaccination programs, will promote digitization of money and the rolling out of 5G – which would be needed to upload and monitor personal data on the nano chips and to control the populace. Agenda ID2020 will most likely also include 'programs' – through vaccination? – of significantly reducing world population. Eugenics is an important component in the control of future world population under a NOW / OWO – see also Georgia Guidestones , mysteriously built in 1980.

The ruling elite used the lockdown as an instrument to carry out this agenda. Its implementation would naturally face massive protests, organized and funded along the same lines as were the BLM protests and demonstrations. They may not be peaceful – and may not be planned as being peaceful. Because to control the population in the US and in Europe, where most of the civil unrest would be expected, a total militarization of the people is required. This is well under preparation.

In his essay "The Big Plantation" , John Steppling reports from a NYT article that a

"minimum of 93,763 machine guns, 180,718 magazine cartridges, hundreds of silencers and an unknown number of grenade launchers have been provided to state and local police departments in the US since 2006. This is in addition to at least 533 planes and helicopters, and 432 MRAPs -- 9-foot high, 30-ton Mine-Resistant Ambush Protected armored vehicles with gun turrets and more than 44,900 pieces of night vision equipment, regularly used in nighttime raids in Afghanistan and Iraq."

He adds that this militarization is part of a broader trend. Since the late 1990s, about 89 percent of police departments in the United States serving populations of 50,000 people or more had a PPU (Police Paramilitary Unit), almost double of what existed in the mid-1980s. He refers to these militarized police as the new Gestapo.

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Even before Covid, about 15% to 20% of the population was on or below the poverty line in the United States. The post-covid lockdown economic annihilation will at least double that percentage – and commensurately increase the risk for civil turbulence and clashes with authorities – further enhancing the reasoning for a militarized police force.

China's Crypto RMB

None of these scenarios will, of course, be presented to the public by the WEF in January 2021. These are decisions taken behind closed doors by the key actors for the Beast. However, this grandiose plan of the Great Reset does not have to happen. There is at least half the world population and some of the most powerful countries, economically and militarily – like China and Russia – opposed to it. "Reset" maybe yes, but not in these western terms. In fact, a reset of kinds is already happening with China about to roll out a new People's Bank of China backed blockchain-based cryptocurrency, the crypto RMB, or yuan . This is not only a hard currency based on a solid economy, it is also supported by gold.

While President Trump keeps trashing China for unfair trade, for improperly managing the covid pandemic, for stealing property rights – China bashing no end – that China depends on the US and that the US will cut trading ties with China – or cut ties altogether, China is calling Trump's bluff. China is quietly reorienting herself towards the ASEAN countries plus Japan (yes, Japan!) and South Korea, where trade already today accounts for about 15% of all China's trade and is expected to double in the next five years.

Despite the lockdown and the disruption of trade, China's overall exports recovered with a 3.2% increase in April (in relation to April 2019). This overall performance in China exports was nonetheless accompanied by a dramatic decline in US-China trade. China exports to the US decreased by 7.9% in April (in relation to April 2019).

It is clear that the vast majority of US industries could not survive without Chinese supply chains. The western dependence on Chinese medical supplies is particularly strong. Let alone Chinese dependence by US consumers. In 2019, US total consumption, about 70% of GDP, amounted to $13.3 trillion, of which a fair amount is directly imported from China or dependent on ingredients from China.

The WEF-masters are confronted with a real dilemma. Their plan depends very much on the dollar supremacy which would continue to allow dishing out sanctions and confiscating assets from those countries opposing US rule; a dollar-hegemony which would allow imposing the components of The Great Reset scheme, as described above.

At present, the dollar is fiat money, debt-money created from thin air. It has no backing whatsoever. Therefore, its worth as a reserve currency is increasingly decaying, especially vis-à-vis the new crypto-yuan from China. In order to compete with the Chinese yuan, the US Government would have to move away from its monetary Ponzi-scheme, by separating itself from the 1913 Federal Reserve Act and print her own US-economy- and possibly gold-backed (crypto) money – not fiat FED-money, as is the case today. That would mean cutting the more than 100-year old ties to the Rothschild and Co. clan-owned FED, and creating a real peoples-owned central bank. Not impossible, but highly improbable. Here, two Beasts might clash, as world power is at stake.

Meanwhile, China, with her philosophy of endless creation would continue forging ahead unstoppably with her mammoth socioeconomic development plan of the 21st Century, the Belt and Road Initiative, connecting and bridging the world with infrastructure for land and maritime transport, with joint research and industrial projects, cultural exchanges – and not least, multinational trade with "win-win" characteristics, equality for all partners – towards a multi-polar world, towards a world with a common future for mankind.

Today already more than 120 countries are associated with BRI – and the field is wide open for others to join – and to defy, unmask and unplug The Great Reset of the West.

[Jul 11, 2020] The Groupthink Pandemic -

Jul 11, 2020 | www.zerohedge.com

The Groupthink Pandemic by Tyler Durden Sat, 07/11/2020 - 07:00 Twitter Facebook Reddit Email Print

Authored by Kevin Smith via Off-Guardian.org,

Groupthink is all around us. Decision-making in government, in the media and at work. It's slowly killing the world.

In the background of the most important events, the Covid-19 response and increasing tension and conflict in the world, it might be worth looking through some of this in a bit more detail.

me title=

I've experienced groupthink working for large organisations, most notably in my last job. We were tasked with investigating and solving complex problems. Some technical expertise helped but was not crucial to the role.

Critical thinking and balancing evidence and differing viewpoints was key.

Yet the organisation decided that this was no longer required and changed the whole operating model to a one-size fits all type of call-centre. This new high-risk approach was recommended to us by the outside consultants Price Waterhouse Coopers (PWC) who were clueless about our business.

Those of us who were experienced in the role argued that the model wouldn't work. But the organisation ploughed on regardless. It was obvious from day one that the financials didn't stack up which they tried to deny and later concealed.

The executive largely ignored our concerns to start but then paid limited lip-service when the wheels started to come off. Anyway, in the end they offered us redundancy while employing fresh university graduates to replace us. As far as I know the place is still in denial and heading down the pan.

Groupthink is described as follows:

https://lockerdome.com/lad/13084989113709670?pubid=ld-dfp-ad-13084989113709670-0&pubo=https%3A%2F%2Fwww.zerohedge.com&rid=www.zerohedge.com&width=890

Groupthink is a term first used in 1972 by social psychologist Irving L. Janis that refers to a psychological phenomenon in which people strive for consensus within a group. In many cases, people will set aside their own personal beliefs or adopt the opinion of the rest of the group.

People who are opposed to the decisions or overriding opinion of the group as a whole frequently remain quiet, preferring to keep the peace rather than disrupt the uniformity of the crowd'.

Groupthink is common where group members have similar backgrounds and particularly where that group is placed under stress, resulting in irrational decision outcomes.

These are the main behaviors to watch out for:

  1. Illusions of invulnerability lead members of the group to be overly optimistic and engage in risk-taking.

  2. Unquestioned beliefs lead members to ignore possible moral problems and ignore the consequences of individual and group actions.

  3. Rationalising prevents members from reconsidering their beliefs and causes them to ignore warning signs.

  4. Stereotyping leads members of the in-group to ignore or even demonise out-group members who may oppose or challenge the group's ideas.

  5. Self-censorship causes people who might have doubts to hide their fears or misgivings.

  6. "Mindguards" act as self-appointed censors to hide problematic information from the group.

  7. Illusions of unanimity lead members to believe that everyone is in agreement and feels the same way.

  8. Direct pressure to conform is often placed on members who pose questions, and those who question the group are often seen as disloyal or traitorous.

There are two further observations I made in the workplace, particularly relevant to groups going through major change or/and a crisis.

Firstly, they tend to swing from the status quo to the complete opposite. In our organisation, we definitely needed some changes and tweaks but we lurched towards a model which was completely unsuitable and unsustainable operationally and financially.

The other thing I noticed was our employers became control freaks. They started to talk down to us and our customers like children. They introduced office slogans such as 'let's crack on' or 'we're all in this together' and deflected from the problems of the disastrous reorganisation towards 'celebrating diversity' in the workplace. Critical thinking, creativity and expression were sucked out of the place.

The obvious analogy for all these behaviors is the response to Covid-19 when government ministers were collectively panicked into making extreme decisions on lockdown , using just one preferred source of 'expertise'.

At the same time, they sidelined dissenters and independent experts who could have offered a calm, rational perspective and a targeted response to Covid-19.

In summing up this thinking and behavior, I'm reminded of these observations from Dr Malcolm Kendrick and Lord Sumption about the response to Covid-19. Dr Kendrick here :

We locked down the population that had virtually zero risk of getting any serious problems from the disease, and then spread it wildly among the highly vulnerable age group. If you had written a plan for making a complete bollocks of things you would have come up with this one".

And Lord Sumption writing in the Mail on Sunday :

The Prime Minister, who in practice makes most of the decisions, has low political cunning but no governmental skills whatever. He is incapable of studying a complex problem in depth. He thinks as he speaks – in slogans.

These people have no idea what they are doing, because they are unable to think about more than one thing at a time or to look further ahead than the end of their noses.

THE BBC – A CASE-STUDY

A large organisation which has a high opinion of its news service . But of course, the reality is the opposite. There are so many groupthink case-studies but the BBC is as good as any, particularly in terms of making a bollocks of things.

The executives at the BBC and some senior correspondents will no doubt be aware that they run a politicised agenda of bias and misinformation on a grand scale. Outsiders who've researched their coverage will recognise this too. But this won't be obvious to the vast majority of BBC employees, the victims of groupthink.

This came across in some of Andrew Marr's incredulous reactions to Noam Chomsky's observations about the media during their interview :

Andrew Marr: How can you know I'm self-censoring?

Noam Chomsky: I'm not saying you're self-censoring. I'm sure you believe everything you say. But what I'm saying is if you believed something different you wouldn't be sitting where you're sitting.

I believe the foreign affairs reporting of the BBC is where this problem stands out most. Real expertise and impartiality has been completely absent from any reporting I've seen in recent years.

First, while not unusual in this profession, most journalists employed by the BBC will have a degree. Typically, when you look at today's 'top' BBC journalists, many have attended the elite universities which tends to create a culture of like-minded people of similar backgrounds. This has been identified as one cause of creating groupthink.

Also, the younger journalists will be impressionable within the BBC hierarchy to the views and ways of the senior house-hold name journalists.

It's sometimes said that there aren't specific rules within the BBC and other media stating what a journalist can and can't report and write and they generally don't knowingly mislead. But they will learn almost instinctively to self-censor and operate within a set of unwritten, unspoken rules and a strait-jacket narrative.

The other problem in foreign affairs reporting is that BBC journalists and most others rarely visit the warzones. On Syria, they typically report from Lebanon or Turkey only occasionally venturing into a government or relatively safe terrorist or Kurd held area. So unlike previous conflicts, such as Bosnia where I remember at least a tiny degree of balance, journalists seldom see what is actually going on.

Under the pressure of deadlines they rely on dubious sources such as Al Qaeda terrorists and Bellingcat and pre-determined assumptions which conveniently slot in with the anti-Assad narrative of the BBC and establishment.

Recently, some grave doubts emerged about the OPCW report on the Douma incident , a huge story which has wider implications.

The investigations of Robert Stuart into a likely previously staged incident involving BBC journalist s was swept under the carpet. Both matters have been ignored because the BBC have no way or will to refute evidence which goes against their bias.

On the other hand, the BBC are more than happy to provide extensive coverage to more allegations against Russia and Trump from anonymous sources, providing no background or balance within the overall of climate of related allegations which have collapsed or are unproven.

And in recent days the BBC has provided coverage on Hong Kong which looks like it's come from a script .

It's well known BBC journalists are silent on malpractice. We saw this with the Jimmy Savile scandal and decades of sexual abuse. This attitude is similar to what I experienced with my employer who were very vocal and proud of their anti-bullying and mental health policies. Yet when the staff were surveyed anonymously, bullying rates were through the roof.

The other obvious signs of groupthink within the BBC, particularly during the Covid-19 crisis, is dumbing-down and its slogan-filled website written as though their readers are idiots.

Another strong theme is a preoccupation with race and diversity, American affairs and general tittle-tattle, to the detriment of more pressing matters such as the longer-term and wider impact of the world's current problems.

Covid-19 and our response to it is probably the most important event of our lifetime but there's barely a peep about whether the response is necessary and proportionate. Instead, this totally rational viewpoint is only ever mentioned in the context of BBC articles about Covid-19 'conspiracy theories' .

Many of the examples I've described neatly fit in with groupthink behaviors and experiences I encountered in a large organisation.

But I think the biggest groupthink problem is with senior BBC journalists. Ultimately their lazy arrogance has trickled down to the newer journalists and so over time, wrong behavior has been normalised throughout.

THE BBC 'GRANDEES'

A few months ago Huw Edwards made some comments about accusations of bias directed towards the BBC, defending the corporation and journalists. These are some of the specific comments he made which to me showed a complete lack of understanding of the concerns people have.

The BBC is not, to put it politely, run like some newspapers, with an all-powerful proprietor and/or editor making his or her mark on the tone and direction of the coverage [ ] BBC News is a rather unsettling mix of awkward, contrary and assertive people who (in my very long experience) delight in either ignoring the suggestions of managers or simply telling them where to get off. That's how it works."

Around this time, I also recall Edwards arguing on Twitter on the subject and he said that it was ridiculous to say that journalists within the BBC were willfully misleading the public. His Twitter opponent replied that this was not what he had said and was simply stating that the BBC had fallen victim to groupthink. Edwards just couldn't get his head past this, while continuing to attack and misrepresent BBC critics.

This defensive attitude and stereotyping of critics is classic groupthink behavior in which he, Nick Robinson and others have taken part.

I used to admire John Simpson and in the 1980s he visited Iran post-revolution. He wrote a book of the visit which I enjoyed. But in recent years, he has shown that he doesn't understand modern geo-politics and like the BBC can only assess it in terms of the ethno-centric British view on the world and our influence.

In this President Putin press conference he asked the most ridiculous question imaginable which confirms he's lost the plot. His question was about Russian behavior in the world and whether Putin wanted to create a new Cold War.

Putin wiped the floor with him pointing out the hundreds of NATO bases and numerous wars which put Simpson's aspersions into their rightful place.

Jeremy Bowen is another who has lost his way. I saw a recent report from him from the position of a Christian militia unit fighting terrorists in Syria.

Again, BBC arrogance was on full display . His report made generalised comparisons between him meeting Serbs in Bosnia in the 1990s and these Syrian fighters, clearly indicating that he doesn't listen and is not interested in Syrian views on western complicity and the White Helmets.

In the usual group-speak he described the Syrian Government 'the regime' and Al Qaeda as 'rebels'. His report simply rubber-stamped the BBC coverage of the whole conflict.

This arrogance is typical of journalists who rely on their past achievements, creating an air of gravitas to impress their audience. The reality is his reporting is based on no substance and outdated and lazy assumptions.

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Ex-BBC nowadays, John Sweeney's arrogance is off the scale. These days he spends his time on Twitter attacking lockdown sceptics , like Peter Hitchens accusing him of 'killing' his Mail on Sunday column readers with his views on Covid-19 lockdown.

Sweeney is off his trolley but the reality is he probably always was as this clip during his BBC days shows.

https://www.youtube.com/embed/mjlo4u_8g60

This behaviour, extreme as it is, certainly suggests groupthink played a big part somewhere in his career.

AN ILLUSION OF SANITY

BBC Dateline is a current affairs TV panel discussion which I occasionally watched. The panel which changed regularly were seemingly well qualified with foreign writers and journalists which included Russia or Arab affairs experts.

Sitting around that table they gave the impression of people who knew what they were talking about.

However, when you listened carefully to what they were saying, there was very little substance. Their arguments, all based on a simple premise that Russia/Syria are bad, the West is good, tempered with a little occasional criticism of western policy to give the illusion of balance.

Occasionally you would have a more pro-Russia expert on but with the prevailing consensus of the rest of the panel, his or her views would be ridiculed. It got to the point any dissenting panel member started to self-censor to sound more credible, perhaps to remain on the panel. This is the dilemma for any progressively minded BBC guest nowadays.

Peter Hitchens who complains the BBC never invite him on, appeared on Good Morning Britain (GMB) recently. As is normal with many GMB debates, the discussion on Covid-19 descended to retorts and abuse and was simply not the forum for Hitchens to get across his well thought out points on the big picture.

But I don't think he would have fared any better on the BBC. The BBC create an illusion of civilised, intelligent discussion but the reality is there is no substance, depth or balance. The crucial discussion points about Covid-19 or conflict in the world don't get a hearing. The premise and the rules are already set in stone before the guests arrive.

FINAL THOUGHTS

There are many reasons why the world is in its current madness and on the brink of serious conflict.

Groupthink in government, the media and the general public is probably a key factor as this represents the thinking culture alongside and below the psychopaths and war criminals who pull the strings.

It's almost impossible to break this cycle by chipping away at it. But it's possible a large event connected to Covid-19 or a major war will be the catalyst which might shock us out of our distorted view of reality.

In the meantime, independent commentators and ex-MSM like Peter Hitchens, Anna Brees and Tareq Haddad , are putting their careers on the line and self-interests aside. We can only encourage others employed by the BBC and other media to be brave and do the same.

Certainly, the consequences will be far more disastrous doing nothing and not speaking up.

In the sudden, new founded willingness to demonstrate on the streets perhaps those participating might be better reflecting on who and what the real enemy is.

Party politics, Brexit and Black Lives Matter really don't matter.

Groupthink, escalating world conflict, All Lives Matter, including Syrians, Libyans, Palestinians and Blacks,(including those outside of US,UK and Europe) together with the post-Covid-19 march to an uncertain 'new normal', are the issues which matter right now.

[Jul 09, 2020] Austerity is part and parcel of the neoliberal business model. In other words "austerity is what a good economic policy looks like to a creditor [or rentier] by likbez

Notable quotes:
"... Wealth of Nations ..."
"... Political Aspects of Full Employment ..."
Jul 09, 2020 | crookedtimber.org
likbez 07.09.20 at 5:10 pm ( 8 )

What is needed is a transfer of resources from private consumption and privately directed investment to public use. That can be achieved through various forms of predistribution, reducing the incomes of those receiving an excessive reward at present, or through taxation. While both need to be pursued, it's unlikely that predistribution can do all the work.

The road to hell is paved with good intentions.

Austerity is part and parcel of the neoliberal business model. In other words "austerity is what a good economic policy looks like to a creditor [or rentier]" (Michael Hudson)

Neoliberalism essentially re-structures the whole economy for rent seeking using financialization and unnecessary (parasitic) financial intermediation. This is the nature of the beast. And leopard can't change its spots.

That's why austerity has been a central component of state policy at every level of government in the USA and in Europe for the last four decades. In the USA austerity policies were being applied, in particular, for the elimination or reduction in social services. As there is no countervailing force (James K Galbraith) -- the role previously played by unions, the neoliberal elite happily drives the country to the cliff.

Both the Democrats and Republicans are united in their commitment to continue to feed the USA war machine and empire building with dollars extracted -- to the tune of almost a trillion a year -- from the lower 80% of population, and transfer those money to the pockets of the military-industrial complex and financial oligarchy. After all neoliberalism is about redistribution of wealth up, not down.

Austerity align neatly with key goals of neoliberalism: drive to discipline labor, to reduce the role of state and to redistribute wealth and power up.

That's why we have seen an increase in social inequality since 1970th. Neoliberal changes to welfare provisions partially drive the rises in homelessness, food bank usage and "death of despair. "

On December 5, 2019, Lawrence O'Donnel described the Neoliberal Democrats (Bill Clinton and Al Gore) as knowingly taking a "grave political risk" in 1993 in voting in favor of austerity.

The risk was to lose scores of seats -- and control of the House and Senate. O'Donnell stressed that no Republicans voted for the Neoliberal Democrat's 1993 austerity program. As the result the neoliberal Democrats lost the House for the first time in 40 years." They also lost the Senate.

Neoliberal Democrats can't abandon austerity and it forces Democrats into an unending series of "Sophie's choices." Under austerity, Democrats must shrink existing overall federal spending. Which naturally results in the election defeat.

Republican fiscal policies cleverly combine "wedge" offerings to fire up their base and massive tax breaks for the elite which fund their campaigns -- leading to a recurrent cycle in which the Neoliberal Democrats are forces to champion policies that cause the public to identify Democrats as the party most likely to raise taxes and cut vital federal programs.

The larger is created by previous Republican administration deficit, the greater the Neoliberal Democrats' new administration urgency to inflict austerity -- and embrace political suicide. It is a self-reinforcing cycle producing recurrent political disaster for Neoliberal Democrats.

The permanent professional wrestling spectacle in which the hapless patsies keep losing to the real tough guy? After all, they get paid handsomely in any case.

Andres 07.09.20 at 9:52 pm (
12
)

Hi John. Just a couple of bones to pick:

First, Keynes was either misled or misleading in attributing macroeconomic self-correcting tendencies to all classical economists. Adam Smith, John Stuart Mill, and Malthus and Marx were all aware of the possibility of deep financial crises (The South Sea Bubble was already 50 years in the past when Wealth of Nations was published), and of the possibility that financial crises might lead to business slumps; they wrote about it but did not make it the center of their focus because nothing as bad as the Great Depression took place in the 18th and 19th centuries. Brad DeLong also points out that J.B. Say had to partially recant Say’s Law later in his life:

https://www.bradford-delong.com/2010/07/after-the-british-financial-crisis-and-depression-of-1825-6-jean-baptiste-say-was-too-smart-to-believe-in-says-law.html

Of the famous classical economists, only Ricardo seems to have wholeheartedly believed in macroeconomic self-correction, and this was likely only because his entire career spanned a period of time when there was plenty of poverty in England, but little underemployment if only thanks to the Napoleonic wars plus emigration to the Western hemisphere and Pacific.

Probably a more useful distinction is Marx’s dichotomy between “scientific bourgeois economists” like Smith, Ricardo, and Mill, and the “vulgar” bourgeois economist propagandists who did end up adopting macroeconomic self-correction as a mantra.

Second, Keynes famous assertion that “the boom not the slump is the time for austerity at the Treasury” is potentially misleading. Depending on the state of business confidence, consumer spending, and the trade balance, it is more accurate to say that the boom not the slump is the time for improving the fiscal balance, which is not necessarily the same thing as either austerity or budget surpluses.

I agree that the one of the big flaws in MMT is the lack of attention paid to the distributional effects of fiscal policy: you can’t rein in inflationary pressure by raising taxes on the very wealthy, as this will only result in reduced saving rather than reduced spending; less progressive taxes may do the trick but will worsen the existing distribution and thus worsen the political situation; the same goes for raising taxes to finance Green New Deal programs.

However, I don’t think that the MMT position boils down to the U.S. being in a permanent liquidity trap situation. The idea of a liquidity trap no longer makes sense once you view the money supply as endogenous, with fluctuations being influenced by fiscal spending (increase) and taxes (decrease). Or to put it in Macro 201 gibberish terms, with an endogenous money supply whose chief influence is the fiscal balance, the IS and LM curves are no longer independent: a shift out in IS curve leads to a shift out in the LM curve, with little effect on interest rates unless the central bank is actively trying to raise them.

Provided they are careful with the distributional effects of tax policy, MMT policy prescriptions may actually work well quite well in terms of economic theory for the U.S., which has both a sovereign and borrower-of-last-resort currency and consequently also has a large import cushion to absorb inflationary pressure. The real problem is political: neither Wall Street nor other important sectors of the U.S. industry (oil/gas and Silicon Valley, among others) are fond of full employment if it caused by an expansionary government, and will pull their campaign financing towards the pro-austerity party at minimum and possibly even threaten to limit investment inside the U.S. Kalecki’s Political Aspects of Full Employment rears its ugly head yet again.

And in most countries other than the U.S., the assumptions of MMT don’t fully apply: either there’s no sovereign currency, or governments are forced to borrow in foreign currencies and become subject to foreign currency reserve constraints, plus there’s no anti-inflation cushion provided by extra imports from having the borrower-of-last-resort currency and the resulting capital inflows.

Lastly, Keynes did not go all-out to advocate rationing during the war, favoring consumption taxes instead. It was Kalecki who provided the theoretical justification for rationing by arguing that consumption taxes would also reduce voluntary saving and likely leave total saving unaffected. Rationing in effect works like a type of progressive tax. But short of wartime expedients, it is unlikely that taxation under full employment can be so effective as to by itself eliminate inflationary pressure: either it has to be weighted towards the lower income brackets with unpleasant political consequences as John points out, or it has to be accompanied by an upward push on interest rates, which invalidates the MMT argument against crowding out.

Overall, MMT founders not because it is an inaccurate picture of the Keynesian system and its Lerner/Knapp satellites, but because Keynes’s theory was itself incomplete (not general enough?): it does not incorporate distributional, political economy, and international finance dynamics needed to have a fully complete theory of macroeconomics.

[Jul 08, 2020] A note on the "professional-managerial class,

Notable quotes:
"... The notion that socioeconomic status is the difference between working and middle classes strikes me as more convenient to obscurantists than useful to serious analysis. Even worse, true SES is better defined by the acceptability of marriage partners. (This brings up religion, by the way, meaning Sunday segregation is an overlooked phenomenon in discussions of systemic racism.) In particular, in dealing with so-called working class people, the issue of property, particularly home ownership, seems to be sharply pertinent. This is true in the form of privilege, such as interest mortgage deduction and property tax rates. (Yes, I know this is not an acceptable use of the term "privilege" but this actually means something, so there.) ..."
"... Most of all, many people live in de facto one party systems, where elections don't make much difference. Much of this country would be more usefully understood I think as more like Mexico or the Philippines, where caciques and landed families tend to run things. The factional struggles play out in the struggles for nominations of the ruling party, while the Outs play catchup in the Out Party, whatever it may be called. The larger part of the people have no political vehicle at all, therefore are largely disengaged. ..."
"... Lastly, on the OP, I'm not at all convinced the near collapse of the stock market and the international credit system last winter, which prompted the reversal of all efforts by the Fed to "normalize" the financial system, wasn't the beginning of the economic consequences we face. And that the pandemic is simply the gust of wind that toppled the house of cards. ..."
Jul 08, 2020 | crookedtimber.org

Originally from: The Economic Consequences of the Pandemic -- Crooked Timber

steven t johnson 07.08.20 at 2:12 pm ( 98 )

A note on the "professional-managerial class," if you don't mind?

Generally a professional is a small businessman. A clergyman may not be able to sell his practice but a doctor or a lawyer can. But clergy have even greater powers over who gets to compete than the AMA or the Bar do.

As for managers, those with an individually negotiated contract, especially those that include things like stock options, golden parachutes, etc. seem to me to be in an entirely different, well, class, than most others.

Academics who have an agent have a different situation than those who don't. Even so-called police unions have enough influence over policies and budgets (as near as I can tell) that the Fraternal Order of Police, or the Police Benevolent Association are more like the Bar than a trade union. I suggest "professional-managerial class" is not enough a genuine thing to be useful at all.

The notion that socioeconomic status is the difference between working and middle classes strikes me as more convenient to obscurantists than useful to serious analysis. Even worse, true SES is better defined by the acceptability of marriage partners. (This brings up religion, by the way, meaning Sunday segregation is an overlooked phenomenon in discussions of systemic racism.) In particular, in dealing with so-called working class people, the issue of property, particularly home ownership, seems to be sharply pertinent. This is true in the form of privilege, such as interest mortgage deduction and property tax rates. (Yes, I know this is not an acceptable use of the term "privilege" but this actually means something, so there.)

And other issues such as decline in property values, tax rates, school districts, are pertinent to individuals deciding what their "wallets" are doing. The question for many is, what's going to happen for their families in the long run, not just this quarter's profits. The fact that most people don't make profits is even more relevant in my opinion. (Yes, Obamacare was something of a redistribution the biggest since Shrub added prescription benefits. This kind of reasoning tells us Nixon was a liberal president!)

Most of all, many people live in de facto one party systems, where elections don't make much difference. Much of this country would be more usefully understood I think as more like Mexico or the Philippines, where caciques and landed families tend to run things. The factional struggles play out in the struggles for nominations of the ruling party, while the Outs play catchup in the Out Party, whatever it may be called. The larger part of the people have no political vehicle at all, therefore are largely disengaged.

On the subject of change, change from time is remorseless, invincible but usually invisible. It is always today, which is pretty much like yesterday, and tomorrow is pretty much like today, but the changes still come, despite the plans of a changer. This is true despite the seeming invulnerability to time of all manner of habits, from the imperial measures to the QWERTY keyboard. The idea that all sorts of things may be so simply because they were and there hasn't been enough of a conscious decision by the majority to re-arrange such things may deflate exaggerated ideas of agency. But it's so.

Lastly, on the OP, I'm not at all convinced the near collapse of the stock market and the international credit system last winter, which prompted the reversal of all efforts by the Fed to "normalize" the financial system, wasn't the beginning of the economic consequences we face. And that the pandemic is simply the gust of wind that toppled the house of cards.

[Jul 08, 2020] US is destroying itself and world through erratic moves- Global Times editorial - Global Times

Notable quotes:
"... The US is too indulged in using geopolitical means to cope with challenges and pursuing its own interests. Following the disintegration of the former Soviet Union, Russia hoped to integrate into the Western world, but the US pulled geopolitical levers and imposed the most intense strategic pressure on Russia. As NATO expanded eastward, it not only incorporated all countries of the Warsaw Pact and the Baltic states, but also extended its hand to the Commonwealth of Independent States, such as Georgia and Ukraine, eventually prompting Russia to have no other options but to take countermeasures. ..."
"... The world has to pay for Washington's ambition to strengthen its hegemony. What the US advocates is not simply decoupling from China, but urging the Western world and more countries to side with the US amid its clashes with China, and to contain China. China is the largest trading partner of more than 100 countries, and has a market almost as big as that of the US. The US not only stabbed China, but the current global cooperative system as well. ..."
"... Unfortunately, those geopolitical maniacs in the US are ending the "good old days" since the end of the Cold War. We are likely to enter a new era with more hatred and the menace of war. Major countries would become more nervous, and the prosperity of small countries would become fragile. The US political elite behind such changes are bound to be shamed by history. ..."
Jul 08, 2020 | www.globaltimes.cn

Washington has almost destroyed the cooperation-centered major-power relations and is pushing the world back to confrontation between major powers.

The global geopolitical struggle has apparently become an irreversible trend. This will have a profound influence on the nature of international relations, fundamentally disturb globalization, and lead to undesirable consequences.

The US is too indulged in using geopolitical means to cope with challenges and pursuing its own interests. Following the disintegration of the former Soviet Union, Russia hoped to integrate into the Western world, but the US pulled geopolitical levers and imposed the most intense strategic pressure on Russia. As NATO expanded eastward, it not only incorporated all countries of the Warsaw Pact and the Baltic states, but also extended its hand to the Commonwealth of Independent States, such as Georgia and Ukraine, eventually prompting Russia to have no other options but to take countermeasures.

Now, the US is using its extreme geopolitical tools on China. It is making the ideological conflict with China more extreme, because it is the cheapest means to mobilize its allies against China. It supports all countries that have territorial disputes with China, incites them to adopt a hard-line approach toward China, and smears China's foreign cooperation to overthrow the world order. It aims to worsen China's external environment, and make people in other countries less willing to cooperate with China.

The world has to pay for Washington's ambition to strengthen its hegemony. What the US advocates is not simply decoupling from China, but urging the Western world and more countries to side with the US amid its clashes with China, and to contain China. China is the largest trading partner of more than 100 countries, and has a market almost as big as that of the US. The US not only stabbed China, but the current global cooperative system as well.

The world will suffer long-lasting costs. The ongoing COVID-19 pandemic is just the first wave. In the face of the raging pandemic, the US has blocked international cooperation. It has only two perspectives on the anti-virus fight - one from the upcoming presidential elections, and the other from international geopolitics. Its lack of a scientific perspective has become the biggest obstacle to international cooperation.

It is not hard to imagine that if China and the US, together with all major powers, join hands and coordinate strategies, the COVID-19 pandemic could have been much less severe than it is now, and the global economy could resume in a more orderly manner.

The US policy that favors major-power confrontation will surely drag down global economic growth, which will force countries to consume their own resources. Coupled with the destructive impact of the pandemic, global economic prosperity after the Cold War is, perhaps, coming to an end. The world will lose huge employment. The global economy will become politicized, and the concept of national security would play a leading role in irrelevant sectors such as the economy.

An arms race and intimidation will return to international relations. Age-old contradictions will be reinforced in the loss of a world order. Favorable opinions toward each other's society will be reduced. The passion for studying and traveling abroad will cool down. The lives of many people will change.

Unfortunately, those geopolitical maniacs in the US are ending the "good old days" since the end of the Cold War. We are likely to enter a new era with more hatred and the menace of war. Major countries would become more nervous, and the prosperity of small countries would become fragile. The US political elite behind such changes are bound to be shamed by history.

[Jul 06, 2020] The inevitable end of neoliberal Dems political dominance

Highly recommended!
Notable quotes:
"... This is a zugzwang for neoliberal Dems. Without working class votes they can't win. And those votes are lost. Clinton gambit that in Cola-Pepsi duopoly the working class has nowhere to go (because Republicans are ever worse) worked for a couple of decades but in 2016 suddenly stopped. They same happened in UK. And will soon happen in Germany as Merkel is history too: Biden without senility. ..."
"... We need to accept the fact that the Neoliberal Dems lost its key constituency and that limits their ability to win the political power. They can't even select a decent leader, because Biden as a party leader is a cruel joke. ..."
"... IMHO 20% of upper middle class is not enough as the key constituency simply because a part of this voter block belongs to Republicans (military middle class). And that essentially all what the neoliberal Dems, as "Republicans-lite" currently have. ..."
"... Although in 2020 they might have a unique chance due to Trump self-disintegration. But their ability to hold into minorities votes, while selling those minorities down the river is an aberration, so in this case in 2022 they might lose all the gains. ..."
"... Biden in a way symbolizes the crisis of Clinton wing of the Democratic Party really well: they have no future, only the past. ..."
"... It is July. By January 2021, the U.S. economy will have suffered a structural collapse in multiple sectors. That is the economic consequence of the pandemic. Restaurants, shopping malls, bars, colleges, hotels, airlines, cruise lines -- easily 15% of the workforce will be unemployed and another 25% seriously underemployed. ..."
"... For some reason, the main divide in politics today is a sort of culture war, and republicans and other right wing parties managed to present the traditionalist side of the culture war as the "working class" one, and therefore the other side as the evil cosmopolitan prosecco sipping faux leftish but in reality very snobbish one, so that they pretend that they are the working class party because of their traditionalist stance. ..."
"... But they aren't: already the fact that they blame "cosmopolitans" shows that they think in terms of nationalism (like Trump and his China virus), which is a way to deflect the attention from class conflict. ..."
"... This doesn't automatically mean that the Dems get the working class: what happens is that conservative vote is U shaped, they get a ton of votes from very low incomes, and a ton of votes from very high incomes, but few votes in the middle. ..."
"... it is still true that in the very low incomes Reps rake up a lot of votes (although, as for my previous comment, I think this is a case of false consciousness, aka they cling to their guns and their Bibles, aka they've been bamboozled). ..."
Jul 06, 2020 | crookedtimber.org

likbez 07.05.20 at 10:36 pm ( 39 )

a party that is no longer of the working class is unlikely to pass legislation that benefits the working class.

This is an important point worth repeating again and again.

This is a zugzwang for neoliberal Dems. Without working class votes they can't win. And those votes are lost. Clinton gambit that in Cola-Pepsi duopoly the working class has nowhere to go (because Republicans are ever worse) worked for a couple of decades but in 2016 suddenly stopped. They same happened in UK. And will soon happen in Germany as Merkel is history too: Biden without senility.

Using "identity wedge" and amplifying the current riots is a desperate move of "substituting with minorities" the lost working class votes. They want to split the country in such a way that Republicans are in minority. Probably will not work as nationalism as a platform is on upswing now and Trump's "national neoliberalism" has some grass roots support even among the minorities, despite that his promises are all fake. Riots dramatically increased polarization and the result of this polarization are not necessary beneficial to neoliberal Dems.

We need to accept the fact that the Neoliberal Dems lost its key constituency and that limits their ability to win the political power. They can't even select a decent leader, because Biden as a party leader is a cruel joke. The fact that "there is no alternative" no longer holds -- the return (on a new level) to some form of the New Deal is clearly an alternative. The alternative that the majority of population wants.

All those neoliberal fairy tales about "free market" (can it exists with multinationals in power?), "personal responsibility" (which means unlimited ability of capital to eliminate decent jobs and replace them with perma-temps, or offshore them) and that "rising tide lifts all boats" no longer work. That's why Bezos supports BLM while paying below average to the workers in warehouses. He "feels the pain." ;-)

IMHO 20% of upper middle class is not enough as the key constituency simply because a part of this voter block belongs to Republicans (military middle class). And that essentially all what the neoliberal Dems, as "Republicans-lite" currently have.

Although in 2020 they might have a unique chance due to Trump self-disintegration. But their ability to hold into minorities votes, while selling those minorities down the river is an aberration, so in this case in 2022 they might lose all the gains.

Biden in a way symbolizes the crisis of Clinton wing of the Democratic Party really well: they have no future, only the past.

While Republicans now can play the nationalist card like in Weimar Germany. The recent riots play into their hands, and this effect will last till November.

bruce wilder 07.06.20 at 4:11 am (45 )

mainstream Democrats recognise the need for radical change, and Biden will align with the mainstream position as he always has done

You said you would leave this, your third assumption, to comments, so here is my comment.

The U.S. is in the midst of a deep legitimacy crisis and contrary to popular belief among liberals, it is not Trump particularly whose legitimacy is being called into question. Oh, sure, there have been relentless attacks on him -- from partisan opponents and from much of mainstream media -- but like the "anti-racism" of the recent protests -- much of it is dissembling and distraction. Charges of colluding with Putin to win the 2016 election turned out to be fake news -- rather obviously so from the beginning -- but a big enough mob went down that path with no self-awareness. I am not saying Trump is not an egregiously bad President; he is. But, notice please, before you go assuming that mainstream Democrats are going wake up in 2021 wanting to govern in the real world , that they have not shown much inclination toward truth-telling or critical realism these last 20 years.

It is July. By January 2021, the U.S. economy will have suffered a structural collapse in multiple sectors. That is the economic consequence of the pandemic. Restaurants, shopping malls, bars, colleges, hotels, airlines, cruise lines -- easily 15% of the workforce will be unemployed and another 25% seriously underemployed.

Did I mention that the U.S. is undergoing a legitimacy crisis?? Whose legitimacy is being called into question?

I would submit that the legitimacy of the elite professional and managerial classes is being called into question, for want of performance or any sense of responsibility. The urban PMC are the core constituency of the establishment Democratic Party. The vestigial working class elements and the ideological Left are distant memories and oppressed minorities seeking social justice, mere props. I would say the Party establishment is confident they can put the re-animated corpse of Biden into the White House. And look how gleefully they welcome Republican never-Trumpers into the clubhouse! If you were one of the fools and tools who thought Obama did not want Republicans to control Congress, you are getting another chance to see how the Obama Alumni Association works with the Lincoln Project, how happy they are to deliver the kind of policy that appeals to rich, old, suburban Republican women.

The thing is, the political classes -- the millionaire media pundits, the politicians, the lobbyists, the generals, the journamalists, the manipulative political operatives and propagandists, the pious policy "experts", the highly paid executives and financial managers running monopolies into the ground and non-profits into irrelevance -- they have enacted their neo-liberal agenda and it doesn't work.

We have just watched the once highly touted CDC completely botch the great Pandemic. They could not devise a test. They screwed up the rules on who could or should be tested. They lied early on about the need to wear masks. They staged a moral panic over a need for ventilators, when ventilators are a terrible therapeutic alternative. In the new Puritanism, they shut down public beaches but they watched passively as liberal heroes like Cuomo set off a holocaust by sending COVID-19 patients to nursing homes.

This in a country that cannot manufacture PPE. Or win a war. Trump, in his fumbling way, might get the U.S. out of Afganistan, but the NY Times -- who brought us WMD not that long ago -- reports the Russians are paying bounties on American soldiers killed. No report on the treatment of Julian Assange though. Boeing is going to get the 737 Max in the air real soon now. Citibank is borrowing at 0.03 from the Fed and lending to credit card users at 27% and may be insolvent.

So, let us assume the Democrats, after nominating an elderly sob who had a hand in the crime bill that gave the U.S. the highest incarceration rate in the world, the bankruptcy bill that saddled tens of millions with credit card and student debt that cannot be discharged, and every stupid war of the last nearly twenty years, will suddenly see the necessity of radical change. And, after making an alliance with conservative Republicans hostile to even Trump's fake populism in order to elect Biden, seeing the light on radical reform is so likely! So plausible.

And, what's the play? The carrot of bi-partisan cooperation coupled with the fearful stick of abolishing the filibuster someday somehow if they don't play nice. You do realize that only Republicans are allowed to manipulate the filibuster and only in ways that favor their agenda of, say, stacking the courts? And, the strategic vision? Reinforcing the Rube Goldberg contraption which is Obamacare? You do know Biden is on record as adamantly opposed to Medicare4all? And, that Medicaid is a need-based nightmare of controlled deprivation? In a country where public health is such a shambles that a pandemic is running out of control.

You can do better.

Chetan Murthy 07.06.20 at 6:45 am ( 48 )

likbez @ 39:

Without working class votes they can't win. And those votes are lost

It's helpful that you told us who you were, in so few words. The Dems didn't lose working-class votes in 2016: the median income of a Hillary voter was less than that of a Trump voter [or maybe it was average? In any case, not much difference.] What the Dems lost, was "white non-college-educated" voters. They retained working class voters of color.

But hey, they don't count as working-class voters to you. Thanks for playing.

MisterMr 07.06.20 at 8:21 am ( 49 )

Two points:

  1. White collar are, by definition, working class, because they don't own the means of production. What I see is an opposition between blue collars and white collars, that are two wings of the working class, not that democrats are going against the working class.

    For some reason, the main divide in politics today is a sort of culture war, and republicans and other right wing parties managed to present the traditionalist side of the culture war as the "working class" one, and therefore the other side as the evil cosmopolitan prosecco sipping faux leftish but in reality very snobbish one, so that they pretend that they are the working class party because of their traditionalist stance.

    But they aren't: already the fact that they blame "cosmopolitans" shows that they think in terms of nationalism (like Trump and his China virus), which is a way to deflect the attention from class conflict.

    So comparatively the Dems are still the working class party, and the fact that some working class guys vote for trump sows that they suffer from false consciousness, not that the Dems are too right wing (the dems ARE too right wing, but this isn't the reason some working class guys are voting Trump).

  2. Neoliberalism and free markets are not the same thing, and furthermore neoliberalism and capitalism are not the same thing; at most neoliberalism is a form of unadultered capitalism. However since neoliberalism basically means "anti new deal", and new deal economies were still free market and still capitalist (we can call them social democratic, but in this sense social democracy is a form of controlled capitalism), it follows that the most economically successful form of capitalism and free markets to date is not neoliberalism.
MisterMr 07.06.20 at 8:30 am ( 50 )

@Chetan Murthy 48

"the median income of a Hillary voter was less than that of a Trump voter"

This doesn't automatically mean that the Dems get the working class: what happens is that conservative vote is U shaped, they get a ton of votes from very low incomes, and a ton of votes from very high incomes, but few votes in the middle.

Since income distribution is pear shaped (there is more distance between high incomes and the median than between low incomes and the median) this still gives an higher average income than the Dem's base, but it is still true that in the very low incomes Reps rake up a lot of votes (although, as for my previous comment, I think this is a case of false consciousness, aka they cling to their guns and their Bibles, aka they've been bamboozled).

[Jul 03, 2020] Neoliberalism and Christianity

Notable quotes:
"... The interesting point of the Christianization of the USA here is not in Christianity itself, but in the socioeconomic process it represents (on the right; on the left, we already have the "wokeist" phenomenon). The USA is degenerating as a world empire and, if the USG chooses an escape route through the right end of the political spectrum, it could potentially result in a Fascist USA - an extremely virulent, fundamentalist and nihilist (and thus very dangerous) empire. ..."
"... That said, the influence of religious organizations in politics is overweight, because few other institutions that can turn out large blocs of voters. Unions used to, once. ..."
"... Nationalists claiming to represent "Judeo-Christian values" (a euphemism if ever) have been disproportionately visible in media for years. This is hardly new. Certainly as of the Bush administration. ..."
Jul 03, 2020 | www.moonofalabama.org

450.org , Jul 2 2020 16:59 utc | 16

Christianity has transformed into a business, an industry even. Since the Cold War, everything has become an opportunity to exploit for maximum gain and religion is not an exception.

vk , Jul 2 2020 20:04 utc | 34

@ Posted by: CitizenX | Jul 2 2020 19:48 utc | 33

Christianism can surive in a political form. Indeed, that was when it was at its best: using the Roman State machinery to force conversion from paganism and exterminating pagans. That's its greatest strength in comparison to, e.g. its Jewish fathers: the Jews were (still are) outright imperialists - the Chosen People - who wanted to destroy the Roman Empire from the outside; the Christians were Jews who wanted to take control of Rome from within.

For Christianism to survive, you don't need every of its followers to be an expert of Christian faith: it only needs a strong Church with direct access and control of the State.

The rehabilitation of Christianity from the High Cold War in the USA as a weapon against communism is a known fact. What I hypothesize here is that this process didn't stop: either it continues today with full-fledged support from the USG (as seen in George W. Bush's reign) and/or it got out of control (i.e. the new rapturist churches gained a life of their own, as seen by the ones funded by billionaires with the aim of aligning American Christianity with the geopolitical interests of Israel).

What I'm speculating here is that this process will suffer another metamorphosis, thanks to the rise of the so-called "woke leftism" which are allegedly commanding the Floyd revolts. This metamorphosis - I'm betting - will result in the far-rightification of the US Army and police forces (or accelerate it). Since the far-right in the USA is blatantly Christian (as we can read by their manifestos), this would result in the Christianization of the USG - even if, ultimately, it serves the more immediate interests of the Zionists (in the case of the rapturists).

The interesting point of the Christianization of the USA here is not in Christianity itself, but in the socioeconomic process it represents (on the right; on the left, we already have the "wokeist" phenomenon). The USA is degenerating as a world empire and, if the USG chooses an escape route through the right end of the political spectrum, it could potentially result in a Fascist USA - an extremely virulent, fundamentalist and nihilist (and thus very dangerous) empire.

ptb , Jul 2 2020 21:28 utc | 47
re: religion in the US...

Down 10% in past 10 years [Pew] .

That said, the influence of religious organizations in politics is overweight, because few other institutions that can turn out large blocs of voters. Unions used to, once.

Nationalists claiming to represent "Judeo-Christian values" (a euphemism if ever) have been disproportionately visible in media for years. This is hardly new. Certainly as of the Bush administration.

[Jul 03, 2020] The God That Failed -- Why The US Cannot Now Re-Impose Its Civilisational Worldview by Alastair Crooke

He should talk about neoliberal ideology not some "universal civilization"
Notable quotes:
"... So, not only was the claim to universal civilisation not supported by evidence, but the very idea of humans sharing a common destination ('End of Times') is nothing more than an apocalyptic remnant of Latin Christianity, and of one minor current in Judaism. Mill's was always a matter of secularized religion – faith – rather than empiricism. A shared human 'destination' does not exist in Orthodox Christianity, Taoism or Buddhism. It could never therefore qualify as universal. ..."
"... But today, with America's soft power collapsed – not even the illusion of universalism can be sustained. Other states are coming forward, offering themselves as separate, equally compelling 'civilisational' states. It is clear that even were the classic liberal Establishment to win in the November U.S. elections, America no longer has claim to path-find a New World Order. ..."
"... 'Freedom' is being torn down from within. Dissidents from the woke ideology , are being 'called out', made to repent on the knee, or face reputational or economic ruin. It is 'soft totalitarianism'. It recalls one of Dostoevsky's characters – at a time when Russian progressives were discrediting traditional institutions – who, in a celebrated line, says: "I got entangled in my data Starting from unlimited freedom, I conclude with unlimited despotism". ..."
"... "This is not a momentary civil disturbance. This is a serious, and highly organized political movement It is deep and profound and has vast political ambitions. It is insidious, it will grow. Its goal is to end liberal democracy and challenge western civilization itself We're too literal and good-hearted to understand what's happening We have no idea what we are up against These are not protests. This is a totalitarian political movement" ..."
"... The "toy radicals, and Champagne Bolsheviks" – in these terms of dripping disdain from Williamson – are very similar to those who rushed into the streets in 1917. But before dismissing them so peremptorily and lightly, recall what occurred. ..."
Jul 03, 2020 | www.zerohedge.com

Authored by Alastair Crooke via The Strategic Culture Foundation,

It was always a paradox: John Stuart Mill, in his seminal (1859), On Liberty , never doubted that a universal civilisation, grounded in liberal values, was the eventual destination of all of humankind. He looked forward to an 'Exact Science of Human Nature', which would formulate laws of psychology and society as precise and universal as those of the physical sciences.

Yet, not only did that science never emerge, in today's world, such social 'laws' are taken as strictly (western) cultural constructs, rather than as laws or science.

So, not only was the claim to universal civilisation not supported by evidence, but the very idea of humans sharing a common destination ('End of Times') is nothing more than an apocalyptic remnant of Latin Christianity, and of one minor current in Judaism. Mill's was always a matter of secularized religion – faith – rather than empiricism. A shared human 'destination' does not exist in Orthodox Christianity, Taoism or Buddhism. It could never therefore qualify as universal.

Liberal core tenets of individual autonomy, freedom, industry, free trade and commerce essentially reflected the triumph of the Protestant worldview in Europe's 30-years' civil war. It was not fully even a Christian view, but more a Protestant one.

This narrow, sectarian pillar was able to be projected into a universal project – only so long as it was underpinned by power . In Mill's day, the civilisational claim served Europe's need for colonial validation . Mill tacitly acknowledges this when he validates the clearing of the indigenous American populations for not having tamed the wilderness, nor made the land productive.

However, with America's Cold War triumph – that had by then become a cynical framework for U.S. 'soft power' – acquired a new potency. The merits of America's culture, and way of life, seemed to acquire practical validation through the implosion of the USSR.

But today, with America's soft power collapsed – not even the illusion of universalism can be sustained. Other states are coming forward, offering themselves as separate, equally compelling 'civilisational' states. It is clear that even were the classic liberal Establishment to win in the November U.S. elections, America no longer has claim to path-find a New World Order.

Yet, should this secularised Protestant current be over – beware! Because its subterranean, unconscious religiosity is the 'ghost at the table' today. It is returning in a new guise.

The 'old illusion' cannot continue, because its core values are being radicalised, stood on their head, and turned into the swords with which to impale classic American and European liberals (and U.S. Christian Conservatives). It is now the younger generation of American woke liberals who are asserting vociferously not merely that the old liberal paradigm is illusory, but that it was never more than 'a cover' hiding oppression – whether domestic, or colonial, racist or imperial; a moral stain that only redemption can cleanse.

It is an attack – which coming from within – forecloses on any U.S. moral, soft power, global leadership aspirations. For with the illusion exploded, and nothing in its place, a New World Order cannot coherently be formulated.

Not content with exposing the illusion, the woke generation are also tearing down, and shredding, the flags at the masthead: Freedom and prosperity achieved via the liberal market.

'Freedom' is being torn down from within. Dissidents from the woke ideology , are being 'called out', made to repent on the knee, or face reputational or economic ruin. It is 'soft totalitarianism'. It recalls one of Dostoevsky's characters – at a time when Russian progressives were discrediting traditional institutions – who, in a celebrated line, says: "I got entangled in my data Starting from unlimited freedom, I conclude with unlimited despotism".

Even 'science' has become a 'God that failed'; instead of being the path to liberty, it has become a dark soulless path toward unfreedom . From algorithms that 'cost' the value of human lives, versus the 'costing' of lockdown; from secret 'Black Box' algos that limit distribution of news and thinking, to Bill Gates' vaccination ID project, science now portends despotic social control , rather than a fluttering standard, hoist as the symbol of freedom.

But the most prominent of these flags, torn down, cannot be blamed on the woke generation . There has been no 'prosperity for all' – only distortions and warped structures. There are not even free markets. The Fed and the U.S. Treasury simply print new money, and hand it out to select recipients. There is no means now to attribute 'worth' to financial assets. Their value simply is that which Central Government is willing to pay for bonds, or grant in bail-outs.

Wow. 'The God who failed' (André Gide's book title) – a crash of idols. One wonders now, what is the point to that huge financial eco-system known as Wall Street. Why not winnow it down to a couple of entities, say, Blackrock and KKR (hedge funds), and leave it to them to distribute the Fed's freshly-printed 'boodle' amongst friends? Liberal markets no more – and many fewer jobs.

Many commentators have noted the wokes' absence of vision for the future . Some describe them in highly caustic terms:

"Today, America's tumbrils are clattering about, carrying toppled statues, ruined careers, unwoke brands. Over their sides peer those deemed racist by left-wing identitarians and sentenced to cancelation, even as the evidentiary standard for that crime falls through the floor But who are these cultural revolutionaries? The conventional wisdom goes that this is the inner-cities erupting, economically disadvantaged victims of racism enraged over the murder of George Floyd. The reality is something more bourgeoisie. As Kevin Williamson observed last week, "These are the idiot children of the American ruling class, toy radicals and Champagne Bolsheviks, playing Jacobin for a while, until they go back to graduate school".

Is that so? I well recall listening in the Middle East to other angry young men who, too, wanted to 'topple the statues'; to burn down everything. 'You really believed that Washington would allow you in', they taunted and tortured their leaders: "No, we must burn it all down. Start from scratch".

Did they have a blueprint for the future? No. They simply believed that Islam would organically inflate, and expand to fill the void. It would happen by itself – of its own accord: Faith.

Professor John Gray has noted "that in The God that failed, Gide says: 'My faith in communism is like my faith in religion. It is a promise of salvation for mankind'' . "Here Gide acknowledged", Gray continues, "that communism was an atheist version of monotheism. But so is liberalism, and when Gide and others gave up faith in communism to become liberals, they were not renouncing the concepts and values that both ideologies had inherited from western religion. They continued to believe that history was a directional process in which humankind was advancing towards universal freedom".

So too with the wokes. The emphasis is on Redemption; on a Truth catharsis; on their own Virtue as sufficient agency to stand-in for the lack of plan for the future. All are clear signals: A secularised 'illusion' is metamorphosing back into 'religion'. Not as Islam, of course, but as angry Man, burning at the deep and dark moral stain of the past. And acting now as purifying 'fire' to bring about the uplifting and shining future ahead.

Tucker Carlson, a leading American conservative commentator known for plain speaking, frames the movement a little differently:

"This is not a momentary civil disturbance. This is a serious, and highly organized political movement It is deep and profound and has vast political ambitions. It is insidious, it will grow. Its goal is to end liberal democracy and challenge western civilization itself We're too literal and good-hearted to understand what's happening We have no idea what we are up against These are not protests. This is a totalitarian political movement" .

Again, nothing needs to be done by this new generation to bring into being a new world, apart from destroying the old one. This vision is a relic – albeit secularised – of western Christianity. Apocalypse and redemption, these wokes believe, have their own path; their own internal logic.

Mill's 'ghost' is arrived at the table. And with its return, America's exceptionalism has its re-birth. Redemption for humankind's dark stains. A narrative in which the history of mankind is reduced to the history of racial struggle. Yet Americans, young or old, now lack the power to project it as a universal vision.

'Virtue', however deeply felt, on its own, is insufficient. Might President Trump try nevertheless to sustain the old illusion by hard power? The U.S. is deeply fractured and dysfunctional – but if desperate, this is possible.

The "toy radicals, and Champagne Bolsheviks" – in these terms of dripping disdain from Williamson – are very similar to those who rushed into the streets in 1917. But before dismissing them so peremptorily and lightly, recall what occurred.

Into that combustible mass of youth – so acultured by their progressive parents to see a Russian past that was imperfect and darkly stained – a Trotsky and Lenin were inserted. And Stalin ensued. No 'toy radicals'. Soft became hard totalitarianism.

[Jul 01, 2020] Putin s economic and social policies have a neoliberal bent but Putin is far from a classic neoliberal

Highly recommended!
Putin has to stay within neoliberal framework because this is a the dominant social framework in existence. But he is determine to "tame the markets" when necessary which is definitely anathema to neoliberals. So he is kind of mixture of neoliberal and traditional New Deal style statist. At the same time he definitely deviates from neoliberalism in some major areas, such as labor market and monopolies.
Jul 01, 2020 | www.moonofalabama.org
likbez , July 02, 2020 at 03:51
@Prof K | Jul 1 2020 20:50 utc | 18
In fact, much of his economic and social policies have a decidedly neoliberal bent. As Tony Wood argues, Putin has reformed and consolidated the Yeltsin system. There is not as much of a break with Yeltsin as liberals -- or apparently leftists looking for any hope -- want to believe.
You have no clue. This is a typical left-wing "Infantile Disorder" point of view based on zero understanding of Russia and neoliberalism as a social system. Not that I am a big specialist, but your level of ignorance and arrogance is really stunning.

Neoliberalism as a social system means internal colonization of population by financial oligarchy and resulting decline of the standard of living for lower 80% due to the redistribution of wealth up. It also means subservience to international financial capital and debt slavery for vassal countries (the group to which Russia in views of Washington belongs) .

The classic example is Ukraine where 80% of population are now live on the edge of abject poverty. Russia, although with great difficulties, follows a different path. This is indisputable.

The neoliberal resolution which happened under alcoholic Yeltsin was stopped or at least drastically slowed down by Putin. Some issues were even reversed. For example, the USA interference via NGO ended. Direct interference of the USA into internal affairs of Russia ( Russia was a USA colony under Yeltsin ) also diminished, although was not completely eliminated (and this is impossible in view of the USA position in the the hegemon of the neoliberal "International" and owner of the world reserve currency.)

Those attempts to restore the sovereignty of Russia were clearly anti-neoliberal acts of Putin. After all the slogan of neoliberalism is "financial oligarchy of all countries unite" -- kind of perversion of Trotskyism (or. more correctly, "Trotskyism for the rich.")

In general, Yeltsin's model of neoliberalism in Russia ( https://en.wikipedia.org/wiki/Semibankirschina ) experienced serious setbacks under Putin's rule, although some of his measures were distinctly neoliberal.

Recent "Medvedev's" pension reform is one (which was partially a necessity due to the state of Russian finances at the time; although the form that was chosen -- in your face, without some type of carrot -- was really mediocre, like almost anything coming from Medvedev ); some botched attempt in privatization of electrical networks with Chubais at the helm is another -- later stopped, etc.

But in reality, considerable if not dominant political power now belongs to corporations, whether you want it or not. And that creates strong neoliberal fifth column within the country. That's a huge problem for Putin. The alternative is dictatorship which usually does not end well. So there is not much space for maneuvering anyway. You need to play the anti-neoliberal game very skillfully as you always have weak cards in hands, the point which people like VK never understand.

BTW, unlike classic neoliberals, Putin is a consistent proponent of indexation of income of lower strata of the population to inflation, which he even put in the constitution. Unlike Putin, classic neoliberals preach false narrative that "the rising tide lifts all boats."

All-in-all whenever possible, Putin often behaves more like a New Deal Capitalism adherent, than like a neoliberal. He sincerely is trying to provide a decent standard of living for lower 80% of the population. He preserves a large share of state capital in strategically important companies. Some of them are still state-owned (anathema for any neoliberal.)

But he operates in conditions where neoliberalism is the dominant system and when Russia is under constant, unrelenting pressure, and he needs to play by the rules.

Like any talented politician, he found some issues were he can safely deviate from neoliberal consensus without too hard sanctions. In other matters, he needs to give up to survive.

[Jul 01, 2020] End of empire by Andrew Bacevich

Bacevich is extremely naive. Neoliberal elite does not care one bit about the USA population. It is essentially behaves like an occupying force. So probably only external shocks can change things.
Jul 01, 2020 | spectator.us

This article is in The Spectator 's July 2020 US edition. Subscribe here to get yours .

The end of World War Two inaugurated the era of American dominion, with the United States politically, economically and militarily the most powerful nation on the planet. Yet throughout the subsequent period of American global ascendency, the American people endured a seemingly endless sequence of domestic crises, upheavals and disasters. Primacy abroad did not insulate them, convinced of their unique place in human history, from the trials and tribulations routinely befalling other, more 'ordinary' nations.

Yet neither did trials at home undermine the deep-seated belief that history had summoned the United States -- and no one else -- to lead the world. So even as presidents from Harry Truman to Barack Obama wrestled with pressing challenges at home (for Truman there was race and McCarthyism , for Obama race and the Great Recession), they all, without exception, testified to the nation's indispensability. They deemed it their duty to do so. All, therefore, found ways to prevent domestic problems from encroaching upon America's assertion of singularity among nations. Leading the world took precedence over addressing the contradictions and shortcomings affecting the American way of life. So from 1945 until the end of the 20th century, creating 'a more perfect Union' took a back seat to venturing 'abroad, in search of monsters to destroy'.

...Americans suddenly awakened to the fact that global leadership ("aka imperial policy and costly neocolonial wars") as practiced by the United States can produce painful blowback.

Reinforcing this shock to the system were other unpleasant surprises. First came wars in Afghanistan and Iraq that the world's mightiest military was supposed to win but did not, despite sustaining terrible casualties and expending trillions of dollars. Second came episodes of stunning ineptitude by political authorities. Hurricane Katrina provided one example among many, showing that the people in charge were clueless about how to protect the population for which they were responsible. Hard on the heels of Katrina came the worst economic crisis since the Depression, suggesting that the people charged with managing the economy were incompetent, on the take, or both.

In 2016, the electorate responded by repudiating the establishment, voting into office a thoroughly unqualified presidential wannabe who promised to 'drain the swamp' and put 'America First'. Donald Trump has kept neither of those promises. As the end of his first term approaches, the actual legacy of his presidency has now become clear: yet more ineptitude, cluelessness and incompetence, all reinforced by Trump's trademark narcissism, vulgarity, blustering tough-guy posturing and casual dissembling.

History will doubtless judge Trump harshly. As US president, he has proven to be an abysmal flop. Trump has failed to end the wars he vowed to end. For all his self- touted skills as a dealmaker, his record consists chiefly of unfulfilled promises. He also failed to address effectively -- or even acknowledge -- the threat posed by COVID-19. As a direct consequence of his administration's belated and bungling response to the pandemic, the death toll in the United States now exceeds a staggering 125,000. Trump, of course, accepts no responsibility for that outcome. Coming hard on the heels of the pandemic is the worst economic calamity since Herbert Hoover occupied the White House almost a century ago. Hoover 'owned' the Great Depression. So too Trump 'owns' the economic consequences of the Great Lockdown. Yet again he refuses accountability.

... ... ...

A partial answer to the first question is this: for too long, ruling elites allowed the purported obligations of global leadership to take precedence over tending to the collective wellbeing of the American people. This was a conscious choice made by leaders of both political parties. We are now living with the consequences of that choice...

A preliminary answer to the second question must begin with this admission: the era of US dominion has now passed. So Americans can no longer afford to indulge in the fiction of their indispensability, cherished in elite circles. In fact, the sun has set on the American empire. Subordinating the wellbeing of the American people to ostensible imperatives of global leadership -- thereby allowing racism, inequality, and other problems to fester at home -- has become intolerable.

A massive reordering of national priorities is required. It goes without saying that Trump is incapable of presiding over any such reordering. Yet whether anyone else in mainstream politics is capable of doing so remains very much an open question.

Andrew Bacevich is president of the Quincy Institute for Responsible Statecraft. This article is in The Spectator 's July 2020 US edition. Subscribe here to get yours .

[Jun 30, 2020] The coronavirus crisis has caused a dramatic deterioration in the European public perception of the US, extensive new polling from across Europe reveals

Jun 30, 2020 | www.moonofalabama.org

A User , Jun 29 2020 9:40 utc | 118

To put it politely I, A User, am not a big fan of the grauniad's opinion on anything.
However just now I have been drawn to this article about a poll on euro's changing attitudes towards amerika since the Covid 19 pandemic kicked off.
Yep we all see that the graun's interest is purely political, that the purpose of the article is to sledge orangeman and advance the cause for the even less capable dim hopeful, sleazy Joe Biden.
Nevertheless discounting that furphy there is something quite apposite in this:

"The coronavirus crisis has caused a dramatic deterioration in the European public perception of the US, extensive new polling from across Europe reveals. More than 60% of respondents in Germany, France, Spain, Denmark and Portugal said they had lost trust in the United States as a global leader.

A report based on the survey's findings argues that the shock of the pandemic has "traumatised" European citizens, leaving them feeling "alone and vulnerable".

In almost every country surveyed, a majority of people said their perception of the US had deteriorated since the outbreak. Negative attitudes of the US were most marked in Denmark (71%) Portugal (70%), France (68%), Germany (65%) and Spain (64%). In France, 46% and in Germany 42% said their view of the US had worsened "a lot" during the pandemic."

If amerika moves straight from this into a seemingly more tolerable stance, courtesy of a smooth operator such as Barak Oblamblam, the euro bourgeoisie attitude towards amerika & its inherent sociopathy (amerika is an accurate model of sociopath), then this belief by euro bourgeoisie would probably expire before it gains traction.

However there is no grinning hypocrite with a fast line in tamping shit down, then smoothing it over available.
If Biden wins election, garbage news vectors such as the graun will be pushing for that, however I reckon the neolib fishwraps will be overwhelmed by an ugly reality which is a function of Biden's flaws. The man is racist down to his bones

Biden as a white supremacist is the low-life's default position.
When this careerist & corrupt example of everything which is wrong with amerikan politics, chose to hang out with Strom Thurmond (by that time a rethug) and the dixiecrat wing of the dim party, that was by choice. As a yankee congresscreep, Biden wouldn't have been under any political pressure to side with the white supremacists, but he did 'cos he was motivated by personal choice.

I reckon that should he beat orangeman, Biden will indulge the hubris which so many (esp undeserving winners of the prez beauty contest) little people fall victim to.

That is, on waking up 1st day after election day and deciding he is indeed 'king of the world' he'll indulge his long suppressed prejudices to give african amerikans a bit of a swipe, for no reason other than to show 'em who is who in the fucking zoo,

This will play really badly in europe, even tho deep down, the euro bourgeoisie are about as stone racist as they come.

For the last 50 years or so they have been getting by, even claiming they are "not racist" when deep down (take it from one who has seen 'em up close , burbling their poison when they believe they're surrounded by 'fellow travelers') many have not moved far beyond the Nazi shit their grandfathers burbled in the 1930's & 40's.

Don't agree?

Why is it that despite the ongoing criticism from EU "professionals" directed at arsehole states such as Hungary & Poland, nothing happens. Both collect far more EU subsidies than an up until recently 100% opposed to white supremacy state such as Greece?

Euros pretend that the last 3 centuries of pillaging of Africa & Asia by euro states, pillaging which has kept a big mob of them in the top income bracket, never happened, that they have been 'straight up' with the blackfellas when they haven't.
Everyone silently accepts the deception to stay nice, when actually, they are anything but. However just a euro gentleman would never fart in an elevator neither would he ever articulate his racist attitudes.

Biden, like Trump doesn't get euro sophistication, aka euro hypocrisy, so when he opens his yobby gob, he will spruik the type of tosh that will alienate euro arseholes, driving the wedge between euro & amerika which Trump initially hammered in, so deep that the euros & amerika are split asunder.
Not because the sides disagree but because both elements create so much the same noise within their individual webs of deceit, that they cannot afford to be seen agreeing lest Jo/Joe catches on.

[Jun 25, 2020] Neoliberalism as internal colonialism

Jun 25, 2020 | angrybearblog.com
Globalization: From a US perspective, globalization began in the 1970s with the first large-scale offshoring of semi-conductor, clothing, shoe, electronic, manufacturing, and the large-scale importation of automobiles, and accelerated during the 1980s. Capitalists and 401Ks were the most significant forces driving globalization. As a result of globalization, the DJI soared to new heights.

By 2020, most all of our critical medicines were being manufactured in China and India; hampering our ability to respond to the Covid-19 Pandemic, causing tens of thousands of Americans to die unnecessarily. The US was no longer self-sufficient, hadn't been for more than twenty years.

Significant unintended consequences of Globalization include: Millions of well-paying jobs were sent overseas. A Globalization related Opioid Epidemic that began in the 1990s. The American landscape was littered with dead and dying communities. By 2020, 40% of US Workers were living from paycheck to paycheck; working at jobs that did not pay a living wage. America suffered a soaring homeless population. Due to offshored critical manufacturing, the nation was unable to respond to a worldwide pandemic.

likbez , June 25, 2020 9:38 am

...Money quote:

Significant unintended consequences of Globalization include: Millions of well-paying jobs were sent overseas. A Globalization related Opioid Epidemic that began in the 1990s. The American landscape was littered with dead and dying communities.

By 2020, 40% of US Workers were living from paycheck to paycheck; working at jobs that did not pay a living wage. America suffered a soaring homeless population.

Due to offshored critical manufacturing, the nation was unable to respond to a worldwide pandemic.

It is important to understand that the current situation is the result of the crisis of neoliberalism. And the key idea of neoliberalism is the use of colonial methods against the USA population ("internal colonialism").. Even current "blacks against whites" divide and conquer strategy is taken fully from British colonialism.

Of course, slogans are different, but the reality is really brutal neocolonialism.

And it penetrates culture too. Black ghetto culture and rap are just two (superficial) demonstrations of this sad fact.

For proper framework see Ganesh Sitaraman

https://newrepublic.com/article/155970/collapse-neoliberalism

Some quotes:

" In study after study, political scientists have shown that the U.S. government is highly responsive to the policy preferences of the wealthiest people, corporations, and trade associations -- and that it is largely unresponsive to the views of ordinary people. The wealthiest people, corporations, and their interest groups participate more in politics, spend more on politics, and lobby governments more. Leading political scientists have declared that the U.S. is no longer best characterized as a democracy or a republic but as an oligarchy -- a government of the rich, by the rich, and for the rich. "

" Neoliberalism's war on "society," by pushing toward the privatization and marketization of everything, indirectly facilitates a retreat into tribalism. "

" neoliberalism's radical individualism has increasingly raised two interlocking problems. First, when taken to an extreme, social fracturing into identity groups can be used to divide people and prevent the creation of a shared civic identity. "

" Demagogues rely on this fracturing to inflame racial, nationalist, and religious antagonism, which only further fuels the divisions within society. "

" neoliberals on right and left sometimes use identity as a shield to protect neoliberal policies. As one commentator has argued, "Without the bedrock of class politics, identity politics has become an agenda of inclusionary neoliberalism in which individuals can be accommodated but addressing structural inequalities cannot." What this means is that some neoliberals hold high the banner of inclusiveness on gender and race and thus claim to be progressive reformers, but they then turn a blind eye to systemic changes in politics and the economy. "

" They thought globalization was inevitable and that ever-expanding trade liberalization was desirable even if the political system never corrected for trade's winners and losers. They were wrong. These aren't minor mistakes. "

" In spite of these failures, most policymakers did not have a new ideology or different worldview through which to comprehend the problems of this time. So, by and large, the collective response was not to abandon neoliberalism. After the Great Crash of 2008, neoliberals chafed at attempts to push forward aggressive Keynesian spending programs to spark demand. President Barack Obama's advisers shrank the size of the post-crash stimulus package for fear it would seem too large to the neoliberal consensus of the era -- and on top of that, they compromised on its content. "

" Although neoliberalism had little to offer, in the absence of a new ideological framework, it hung over the Obama presidency -- but now in a new form. Many on the center-left adopted what we might call the "technocratic ideology," a rebranded version of the policy minimalism of the 1990s that replaced minimalism's tactical and pragmatic foundations with scientific ones. The term itself is somewhat oxymoronic, as technocrats seem like the opposite of ideologues. "

" The technocratic ideology preserves the status quo with a variety of tactics. We might call the first the "complexity canard." "

" The most frequent uses of this tactic are in sectors that economists have come to dominate -- international trade, antitrust, and financial regulation, for example. The result of this mind-set is that bold, structural reforms are pushed aside and highly technical changes adopted instead. Financial regulation provides a particularly good case, given the 2008 crash and the Great Recession. When it came time to establish a new regulatory regime for the financial sector, there wasn't a massive restructuring, despite the biggest crash in 70 years. "

" Instead, for the most part, the Dodd-Frank Act was classically technocratic. It kept the sector basically the same, with a few tweaks here and there. There was no attempt to restructure the financial sector completely. "

" The Volcker Rule, for example, sought to ban banks from proprietary trading. But instead of doing that through a simple, clean breakup rule (like the one enacted under the old Glass-Steagall regime), the Volcker Rule was subject to a multitude of exceptions and carve-outs -- measures that federal regulators were then required to explain and implement with hundreds of pages of technical regulations "

" Dodd-Frank also illustrates a second tenet of the technocratic ideology: The failures of technocracy can be solved by more technocracy. "

[Jun 23, 2020] Identity politics is, first and foremost, a dirty and shrewd political strategy developed by the Clinton wing of the Democratic Party ( soft neoliberals ) to counter the defection of trade union members from the party

Highly recommended!
divide and conquer 1. To gain or maintain power by generating tension among others, especially those less powerful, so that they cannot unite in opposition.
Notable quotes:
"... In its most general form, identity politics involves (i) a claim that a particular group is not being treated fairly and (ii) a claim that members of that group should place political priority on the demand for fairer treatment. But "fairer" can mean lots of different things. I'm trying to think about this using contrasts between the set of terms in the post title. A lot of this is unoriginal, but I'm hoping I can say something new. ..."
"... The second problem is that neoliberals on right and left sometimes use identity as a shield to protect neoliberal policies. As one commentator has argued, "Without the bedrock of class politics, identity politics has become an agenda of inclusionary neoliberalism in which individuals can be accommodated but addressing structural inequalities cannot." What this means is that some neoliberals hold high the banner of inclusiveness on gender and race and thus claim to be progressive reformers, but they then turn a blind eye to systemic changes in politics and the economy. ..."
"... Critics argue that this is "neoliberal identity politics," and it gives its proponents the space to perpetuate the policies of deregulation, privatization, liberalization, and austerity. ..."
"... If we assume that identity politics is, first and foremost, a dirty and shrewd political strategy developed by the Clinton wing of the Democratic Party ("soft neoliberals") many things became much more clear. Along with Neo-McCarthyism it represents a mechanism to compensate for the loss of their primary voting block: trade union members, who in 2016 "en mass" defected to Trump. ..."
Dec 28, 2019 | crookedtimber.org

likbez 12.27.19 at 10:21 pm

John,

I've been thinking about the various versions of and critiques of identity politics that are around at the moment. In its most general form, identity politics involves (i) a claim that a particular group is not being treated fairly and (ii) a claim that members of that group should place political priority on the demand for fairer treatment. But "fairer" can mean lots of different things. I'm trying to think about this using contrasts between the set of terms in the post title. A lot of this is unoriginal, but I'm hoping I can say something new.

You missed one important line of critique -- identity politics as a dirty political strategy of soft neoliberals.

See discussion of this issue by Professor Ganesh Sitaraman in his recent article (based on his excellent book The Great Democracy ) https://newrepublic.com/article/155970/collapse-neoliberalism

To be sure, race, gender, culture, and other aspects of social life have always been important to politics. But neoliberalism's radical individualism has increasingly raised two interlocking problems. First, when taken to an extreme, social fracturing into identity groups can be used to divide people and prevent the creation of a shared civic identity. Self-government requires uniting through our commonalities and aspiring to achieve a shared future.

When individuals fall back onto clans, tribes, and us-versus-them identities, the political community gets fragmented. It becomes harder for people to see each other as part of that same shared future.

Demagogues [more correctly neoliberals -- likbez] rely on this fracturing to inflame racial, nationalist, and religious antagonism, which only further fuels the divisions within society. Neoliberalism's war on "society," by pushing toward the privatization and marketization of everything, thus indirectly facilitates a retreat into tribalism that further undermines the preconditions for a free and democratic society.

The second problem is that neoliberals on right and left sometimes use identity as a shield to protect neoliberal policies. As one commentator has argued, "Without the bedrock of class politics, identity politics has become an agenda of inclusionary neoliberalism in which individuals can be accommodated but addressing structural inequalities cannot." What this means is that some neoliberals hold high the banner of inclusiveness on gender and race and thus claim to be progressive reformers, but they then turn a blind eye to systemic changes in politics and the economy.

Critics argue that this is "neoliberal identity politics," and it gives its proponents the space to perpetuate the policies of deregulation, privatization, liberalization, and austerity.

Of course, the result is to leave in place political and economic structures that harm the very groups that inclusionary neoliberals claim to support. The foreign policy adventures of the neoconservatives and liberal internationalists haven't fared much better than economic policy or cultural politics. The U.S. and its coalition partners have been bogged down in the war in Afghanistan for 18 years and counting. Neither Afghanistan nor Iraq is a liberal democracy, nor did the attempt to establish democracy in Iraq lead to a domino effect that swept the Middle East and reformed its governments for the better. Instead, power in Iraq has shifted from American occupiers to sectarian militias, to the Iraqi government, to Islamic State terrorists, and back to the Iraqi government -- and more than 100,000 Iraqis are dead.

Or take the liberal internationalist 2011 intervention in Libya. The result was not a peaceful transition to stable democracy but instead civil war and instability, with thousands dead as the country splintered and portions were overrun by terrorist groups. On the grounds of democracy promotion, it is hard to say these interventions were a success. And for those motivated to expand human rights around the world, it is hard to justify these wars as humanitarian victories -- on the civilian death count alone.

Indeed, the central anchoring assumptions of the American foreign policy establishment have been proven wrong. Foreign policymakers largely assumed that all good things would go together -- democracy, markets, and human rights -- and so they thought opening China to trade would inexorably lead to it becoming a liberal democracy. They were wrong. They thought Russia would become liberal through swift democratization and privatization. They were wrong.

They thought globalization was inevitable and that ever-expanding trade liberalization was desirable even if the political system never corrected for trade's winners and losers. They were wrong. These aren't minor mistakes. And to be clear, Donald Trump had nothing to do with them. All of these failures were evident prior to the 2016 election.

If we assume that identity politics is, first and foremost, a dirty and shrewd political strategy developed by the Clinton wing of the Democratic Party ("soft neoliberals") many things became much more clear. Along with Neo-McCarthyism it represents a mechanism to compensate for the loss of their primary voting block: trade union members, who in 2016 "en mass" defected to Trump.

Initially Clinton calculation was that trade union voters has nowhere to go anyways, and it was correct for first decade or so of his betrayal. But gradually trade union members and lower middle class started to leave Dems in droves (Demexit, compare with Brexit) and that where identity politics was invented to compensate for this loss.

So in addition to issues that you mention we also need to view the role of identity politics as the political strategy of the "soft neoliberals " directed at discrediting and the suppression of nationalism.

The resurgence of nationalism is the inevitable byproduct of the dominance of neoliberalism, resurgence which I think is capable to bury neoliberalism as it lost popular support (which now is limited to financial oligarchy and high income professional groups, such as we can find in corporate and military brass, (shrinking) IT sector, upper strata of academy, upper strata of medical professionals, etc)

That means that the structure of the current system isn't just flawed which imply that most problems are relatively minor and can be fixed by making some tweaks. It is unfixable, because the "Identity wars" reflect a deep moral contradictions within neoliberal ideology. And they can't be solved within this framework.

[Jun 23, 2020] It is shocking to see such a disgusting piece of human garbage like Joe Biden get so many working class voters to vote for him. Biden has never missed a chance to stab the working class in the back in service to his wealthy patrons.

Highly recommended!
Notable quotes:
"... From wiping out the ability of regular folks to declare bankruptcy (something supported by our founding fathers who were NOT socialists), to shipping our industrial base to communist China (which in less enlightened days would have been termed treason), to spending tens of trillions of dollars bailing out and subsiding the big banks (that's not a misprint), to supporting "surprise medical billing," to opening the borders to massive third-world immigration so that wages can be driven down and reset and profits up (As 2015 Bernie Sanders pointed out), Backstabbing Joe Biden is neoliberal scum pure and simple. ..."
"... It's astonishing that so many people will just blindly accept what they are told, that Biden is. "moderate." Biden is so far to the right, he makes Nixon look like Trotsky. ..."
"... Joe Biden is a crook and a con man. He has been lying his whole life. Claimed in his 1988 Campaign to have got 3 degrees at college and finished in top half of his class. Actually only got 1 degree & finished 76th out of 85 in his class. ..."
Mar 03, 2020 | www.moonofalabama.org

TG , Mar 3 2020 22:02 utc | 56

Yet another circus. The proles get to scream and holler, and when all is done, the oligarchy gets the policies it wants, the public be damned. Our sham 'democracy' is a con to privatize power and socialize responsibility.

Although it is shocking to see such a disgusting piece of human garbage like Joe Biden get substantial numbers of people to vote for him. Biden has never missed a chance to stab the working class in the back in service to his wealthy patrons.

The issue is not (for me) his creepiness (I wouldn't much mind if he was on my side), nor even his Alzheimer's, but his established track record of betrayal and corruption.

From wiping out the ability of regular folks to declare bankruptcy (something supported by our founding fathers who were NOT socialists), to shipping our industrial base to communist China (which in less enlightened days would have been termed treason), to spending tens of trillions of dollars bailing out and subsiding the big banks (that's not a misprint), to supporting "surprise medical billing," to opening the borders to massive third-world immigration so that wages can be driven down and reset and profits up (As 2015 Bernie Sanders pointed out), Backstabbing Joe Biden is neoliberal scum pure and simple.

It's astonishing that so many people will just blindly accept what they are told, that Biden is. "moderate." Biden is so far to the right, he makes Nixon look like Trotsky. Heck, he makes Calvin Coolidge look like Trotsky.

Mao , Mar 3 2020 22:01 utc | 55

Ian56:

Joe Biden is a crook and a con man. He has been lying his whole life. Claimed in his 1988 Campaign to have got 3 degrees at college and finished in top half of his class. Actually only got 1 degree & finished 76th out of 85 in his class.

[VIDEO]

https://twitter.com/Ian56789/status/1234914227963518977

[Jun 23, 2020] On Choosing a Belief System by Ken Melvin

Belief system is not chosen. The individual is indoctrinated into it via socialization process. Only few can break this bond.
Notable quotes:
"... Social or Cultural Norms are standards for behavior engendered from infancy by parents, teachers, friends, neighbors, and others in one's life. Social Norms are the shared expectations and rules that guide the behavior of people within social groups; Social Norms can go a long way toward maintaining social order. Engendered, Social or Cultural Norms can be enforced by something as subtle as a gesture, a look, or even the absence of any response at all. At the extremes, aberrant social behavior becomes a crime. One could adopt Social Norms as a part or all of their Belief System. ..."
"... Religions were an early form of Social Norms. Yet and still, all Religious Beliefs address Social Behavior, Social Norms. As with Social Norms, most, if not all, Religions have slowly evolved over time. As with Social Norms, Religious Beliefs are often engendered from infancy by parents; handed down from generation to generation. Most Religions require one's Believing; Believing that the precepts of the Religion come down to us from a supreme being or deity via a prophet or inspired teacher. Whereas science asks questions in the quest for knowledge, Abrahamic religions hold that any questioning of their particular beliefs is blasphemous, a great sin. Rather than welcome questions in re validity, religions insist that, first and foremost, adherents believe. Religions might be a part of the whole of one's Belief System. ..."
"... Can we even have stable societies without Belief Systems? Is it possible to build a Society around Science, Philosophy, and/or Reason? Can we, benefitting from Science and Philosophy: Improve the quality of our Belief Systems? Of our Religions? Can Beliefs become Informed Opinions? Will future societies' Belief Systems be based more on Science and Philosophy, and less on opinion and belief? Do they have a choice? It seems that the more successful societies have long since chosen to give the thinking of Science and Philosophy precedence over Believing. Darwin tells us that survival goes to those that adapt. ..."
Jun 22, 2020 | angrybearblog.com

Belief Systems, these prisms through which we view the world, have been around from our earliest days. Not so long ago, the Ancient Greeks separated the concept of what we might call belief into two concepts: pistis and doxa with pistis referring to trust and confidence (notably akin the regard accorded science) and doxa referring to opinion and acceptance (more akin the regard accorded cultural norms).

In quest of a personal Belief System, should one: Go with the flow and adapt to the Social or Cultural Norm? Follow the Abrahamic admonishment to first believe? Follow their own Reasoning? Or, should one look to Science?

Social or Cultural Norms are standards for behavior engendered from infancy by parents, teachers, friends, neighbors, and others in one's life. Social Norms are the shared expectations and rules that guide the behavior of people within social groups; Social Norms can go a long way toward maintaining social order. Engendered, Social or Cultural Norms can be enforced by something as subtle as a gesture, a look, or even the absence of any response at all. At the extremes, aberrant social behavior becomes a crime. One could adopt Social Norms as a part or all of their Belief System.

Most modern Religions are handed down from times long past, times before much was known about anything. Most, if not all, early Religions were based on mythology. Later on, some Religions found more of their basis in whatever evidence and reasoning skills were available to a people. From the earliest times, human cultures have developed some form or another of a Belief System premised on Religion.

Humans are, uniquely it seems, given the power of comprehending, inferring, or thinking in an orderly rational way; they are given the faculty of Reason. To Reason is to use the faculty of Reason so as to arrive at conclusions; to discover, formulate, or conclude by way of a carefully Reasoned Analysis. One might base a part or all of their Belief System on Reason.

Science can be seen as an endeavor to increase knowledge, to understand; to reduce ignorance and misunderstanding. Science encourages active skepticism. Science, the word comes from the Latin word for knowledge, is premised on verifiable empirical evidence and best thinking. Science employs our faculty to Reason. Belief is not a scientific criterion but is rather a bias to be filtered out of any scientific experiment. We have confidence in the knowledge afforded us by Science to the extent that we have confidence in the validity of the evidence and the rigor of the Reasoning, and in Scientific Methodology. Science can form the basis of one's Belief System to the extent that they have confidence in Science.

Religions were an early form of Social Norms. Yet and still, all Religious Beliefs address Social Behavior, Social Norms. As with Social Norms, most, if not all, Religions have slowly evolved over time. As with Social Norms, Religious Beliefs are often engendered from infancy by parents; handed down from generation to generation. Most Religions require one's Believing; Believing that the precepts of the Religion come down to us from a supreme being or deity via a prophet or inspired teacher. Whereas science asks questions in the quest for knowledge, Abrahamic religions hold that any questioning of their particular beliefs is blasphemous, a great sin. Rather than welcome questions in re validity, religions insist that, first and foremost, adherents believe. Religions might be a part of the whole of one's Belief System.

As is to be expected, Science is often in conflict with religious beliefs. This dichotomy between the Reasoning of Science and the Believing of Religion goes back at least to early Egypt, Greece, and India; has played, and still plays, a huge role for philosophers, scientists, and others given to thought.

While most modern societies have moved away from a Religious dominance of their culture; at the extremes, we still have theocracies where Religious Belief is given reign over culture and politics, and, to some extent or another, thought itself.

Preceding statute law, Religious associated Belief Systems played an important role in mankind's development. Down through the centuries, religious behavioral standards have provided societies personal security, social stability. Religious Beliefs have long been, are still being, codified into law.

Codified laws can also be based on 'Social Norms', on philosophy and reason ( love of learning, the pursuit of wisdom, a search for understanding, ); or on yet other Belief Systems.

Can we even have stable societies without Belief Systems? Is it possible to build a Society around Science, Philosophy, and/or Reason? Can we, benefitting from Science and Philosophy: Improve the quality of our Belief Systems? Of our Religions? Can Beliefs become Informed Opinions? Will future societies' Belief Systems be based more on Science and Philosophy, and less on opinion and belief? Do they have a choice? It seems that the more successful societies have long since chosen to give the thinking of Science and Philosophy precedence over Believing. Darwin tells us that survival goes to those that adapt.

He didn't say it quite that way, but that is what he meant.

This seeming need of humans to Believe can be abused. The atrocities of Colonial Spain and Portugal and the Era of Slavery were ostensibly committed under the aegis of Christian Belief. Nazi Germany, Jonestown, ISIS, and a Trump Presidency are examples of some of the more negative consequences of aberrant Belief Systems.

Demagogues prey on this need to Believe by telling the people what to Believe; by giving them something to Believe. Fox News, by telling its viewers what to Believe, gives them this thing they need; something to Believe. All those arbiters of opinion we see and read on the media are trying to sell Beliefs to their audience; an audience that needs something to Believe. Fox News has become a Belief System for millions. So too, the likes of Rush Limbaugh, Tucker Carlson, and Shawn Hannity.

Adolph Hitler and Jim Jones gave their needy followers something to Believe. Osama bin Laden/Al-Qaeda and ISIS gave their needy followers something to Believe. Donald J. Trump is giving his needy followers something to Believe.

Thinking's too hard.

Obviously, existing well-meaning Belief Systems can be co-opted by unsavory persons, societies. Equally obvious, Belief Systems can be instilled into a population. From the days of slavery and for these 150 yrs hence, whites in the Southern States have engendered racism into their progeny. For 150 yrs now they propagated a false version of history in their schools. They created and propagated a Belief System premised on mendacity.

Though many Belief Systems are based on Religious Tenets; we also see them based on economic models, personality cults, , even in science. Economic dogma can be instilled in a society as a Belief System to the extent that any challenge thereto is considered to be heretical, blasphemous. One can be born a Republican, a Baptist, or both, as were their parents and their parents' parents. People have been being born Catholic for 2,000 yrs. Joseph Smith, a come lately, instilled.

Some positive consequences of Belief Systems include: higher moral standards, the great art and science flowing from the Renaissance; the science, philosophy, and art from The Age of Reason/The Enlightenment. More recently: the ending of slavery, the ending of Colonialism, the ending of apartheid, the codification of LGBT rights, and the struggle to end racism correlate with changes in Belief Systems. Pending challenges for Belief Systems include such as freedom from hunger, access to housing, and alleviating economic disparity. Belief Systems can carry us forward. Belief Systems can hold us back.

Is tweeting believing?

To what Belief System, if any, is this our Age of Technology attributable? Has Technology itself become a Belief System?

A very famous frog once said, "It is not easy being green."

Closely held, long-held, Beliefs are hard to give up; especially if they have been engendered via emulation, imprinting, repetition, , since infancy. In America, the most technologically advanced economy ever known; our technology, our scientific achievements, are all based on science. Yet today we have upwards of half of our politicians pandering to one or another Religious group that, for the most part, denies Science. Quid pro quo: the pols get the Religious groups' vote, the Religious group gets the laws, and the judges and justices, they want. Perhaps in part as a consequence of this support, most of this same group of politicians would govern all the while making little effort to acquaint themselves with Science, with technology, in this day and age of Science and Technology. Many, maybe most, of these same politicians hold fast to theories of economics and law that are, themselves, based on Belief.

John Prine, recently departed, not a frog, wrote the tune "In Spite of Ourselves".

In spite of ourselves, we humans mumble and fumble our way as is our wont.

Ron (RC) Weakley (a.k.a., Darryl for a while at EV) , June 22, 2020 8:35 am

" Darwin tells us that survival goes to those that adapt.

He didn't say it quite that way, but that is what he meant "

[No he did not say it that way because that is not what he meant. Human beings just like to misrepresent Darwin that way because it follows along with their own narrative of innovative superiority and control of their own fate. To transpose biological mutation from the natural selection process of biological evolution over to social evolution is a bit of a stretch, but clearly it would favor diversity and freedom over rigid authoritarian orthodoxy. It comes with no guaranty of course, but it also more accidental or incidental than contrived.]

Ron (RC) Weakley (a.k.a., Darryl for a while at EV) , June 22, 2020 9:18 am

Reason is not the same as logic, not pure logic at least. Impure logic is mostly sophistry. Reason is not necessarily sophistry, but still depends upon assumptions which in life may be less reliable than in math.

Nietzsche and Machiavelli were notable philosophers of celebrated capacity for reason. By my own anti-intellectual biases I have found them both intolerable as human beings and deceptive as arbiters of truth. Science, when correctly applied, has evolved far beyond its roots in philosophy. I am skeptical of both incorrect science and any philosophy that I am not taking an active roll in. Any valid philosophy should be about the present rather than the past. Kant and William James are tolerable, but still insufficient despite their well meaning morality.

[Jun 23, 2020] Scary Signs - Cafe Hayek by Don Boudreaux

Highly recommended!
Notable quotes:
"... Failure to blame all problems suffered by minorities on racism ..."
"... Groupthink must be fun for many people. Emoting without as much as a thread of a connection to knowledge of history and careful ..."
"... But what today most scares me – a true liberal to my marrow – is the rabid mobthink on the political and ideological left. My fear is neither my forgiving nor tolerating the many prejudices and idiocies rampant on the right. I despise these unconditionally. But today – June 12th, 2020 – I fear more the prejudices and idiocies rampant on the left, if only because these seem to me to be today more widespread and socially encouraged. ..."
Jun 12, 2020 | cafehayek.com
Scary Signs

by Don Boudreaux on June 12, 2020

in Current Affairs , Philosophy of Freedom

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Reading David Henderson's recent EconLog post titled " Why Don't People Speak Up? " prompts me to offer a more general yet personal point, which is this:

These are, at least for me, especially scary times. I refer here not principally to the covid lockdown (although that, too, is scary in its own way). Instead, I refer to the tsunami of virtue signaling now drowning the country in the wake of the death of George Floyd. Frank and honest disagreement with any parts of the narrative that dominates the mainstream media is treated by too many people as proof of evil intentions or, at best, of indifference to evil.

Underway now is something far more extreme than a mere loss of nuance. The world is now painted exclusively in the darkest black and brightest white. (Please, do not interpret my use of "black and white" as referring to anything other than the traditionally used example of the starkest of distinctions.)

Failure to blame all problems suffered by minorities on racism – failure to denounce loudly and angrily American bourgeois society's allegedly inherent bigotry, greed, and rapaciousness – failure to acknowledge that America today is a brutal and cruel place for all but the elite, and hellish especially for blacks, women, and gay, bi, and transgender people – is frequently interpreted as sympathy for dark-ages-like superstition and prejudices.

Equally bad, in the eyes of the Virtuous, are attempts at offering historical perspective. Even if accompanied by a sincere and express acknowledgement that serious problems remain, the mere suggestion that at least some of these problems were more widespread and worse in the past – the slightest hint that over time there's been some real improvement for anyone but white, heterosexual, high-income Christian males – is treated as evidence of blindness or malignant bias.

Groupthink must be fun for many people. Emoting without as much as a thread of a connection to knowledge of history and careful consideration of the facts is the practice of very many people today. And it's de rigueur now to treat one's emotions – along with rioting-crowds' outrage and passions – as sources of understanding and knowledge more reliable than an actual understanding of history and economics.

Sadly, but unsurprisingly, this irrationality centered in the political left spawns irrationality on the right. I've heard it said that George Floyd wasn't killed by Derek Chauvin, or that Floyd deserved his fate. I hear it said that any success at reforming government police departments would undermine law and order. Nonsense, of course. Pure nonsense.

But what today most scares me – a true liberal to my marrow – is the rabid mobthink on the political and ideological left. My fear is neither my forgiving nor tolerating the many prejudices and idiocies rampant on the right. I despise these unconditionally. But today – June 12th, 2020 – I fear more the prejudices and idiocies rampant on the left, if only because these seem to me to be today more widespread and socially encouraged.

Seldom have I been as distraught as I am now.

[Jun 21, 2020] How Workers Can Win the Class War Being Waged Against Them by Richard D. Wolff

Notable quotes:
"... Mass unemployment will bring the United States closer to less-developed economies. Very large regions of the poor will surround small enclaves of the rich. Narrow bands of "middle-income professionals," etc., will separate rich from poor. Ever-more rigid social divisions enforced by strong police and military apparatuses are becoming the norm. Their outlines are already visible across the United States. ..."
"... In this context, U.S. capitalism strode confidently toward the 21st century. The Soviet threat had imploded. A divided Europe threatened no U.S. interests. Its individual nations competed for U.S. favor (especially the UK). China's poverty blocked its becoming an economic competitor. U.S. military and technological supremacy seemed insurmountable. ..."
"... Amid success, internal contradictions surfaced. U.S. capitalism crashed three times. The first happened early in 2000 (triggered by dot-com share-price inflation); next came the big crash of 2008 (triggered by defaulting subprime mortgages); and the hugest crash hit in 2020 (triggered by COVID-19). ..."
"... Second, we must face a major obstacle. Since 1945, capitalists and their supporters developed arguments and institutions to undo the New Deal and its leftist legacies. They silenced, deflected, co-opted, and/or demonized criticisms of capitalism. ..."
"... Third, to newly organized versions of a New Deal coalition or of social democracy, we must add a new element. We cannot again leave capitalists in the exclusive positions to receive enterprise profits and make major enterprise decisions. ..."
Jun 19, 2020 | www.counterpunch.org

Organized labor led no mass opposition to Trump's presidency or the December 2017 tax cut or the failed U.S. preparation for and management of COVID-19. Nor do we yet see a labor-led national protest against the worst mass firing since the 1930s Great Depression. All of these events, but especially the unemployment, mark an employers' class war against employees. The U.S. government directs it, but the employers as a class inspire and benefit the most from it.

Before the 2020 crash, class war had been redistributing wealth for decades from middle-income people and the poor to the top 1 percent. That upward redistribution was U.S. employers' response to the legacy of the New Deal. During the Great Depression and afterward, wealth had been redistributed downward. By the 1970s, that was reversed. The 2020 crash will accelerate upward wealth redistribution sharply.

With tens of millions now a "reserve army" of the unemployed, nearly every U.S. employer can cut wages, benefits, etc. Employees dissatisfied with these cuts are easily replaced. Vast numbers of unemployed, stressed by uncertain job prospects and unemployment benefits, disappearing savings, and rising household tensions, will take jobs despite reduced wages, benefits, and working conditions. As the unemployed return to work, most employees' standards of consumption and living will drop.

Germany, France, and other European nations could not fire workers as the United States did. Strong labor movements and socialist parties with deep social influences preclude governments risking comparable mass unemployment; it would risk deposing them from office. Thus their antiviral lockdowns keep most at work with governments paying 70 percent or more of pre-virus wages and salaries.

Mass unemployment will bring the United States closer to less-developed economies. Very large regions of the poor will surround small enclaves of the rich. Narrow bands of "middle-income professionals," etc., will separate rich from poor. Ever-more rigid social divisions enforced by strong police and military apparatuses are becoming the norm. Their outlines are already visible across the United States.

Only if workers understand and mobilize to fight this class war can the trends sketched above be stopped or reversed. U.S. workers did exactly that in the 1930s. They fought -- in highly organized ways -- the class war waged against them then. Millions joined labor unions, and many tens of thousands joined two socialist parties and one communist party. All four organizations worked together, in coalition, to mobilize and activate the U.S. working class.

Weekly, and sometimes daily, workers marched across the United States. They criticized President Franklin D. Roosevelt's policies and capitalism itself by intermingling reformist and revolutionary demands. The coalition's size and political reach forced politicians, including FDR, to listen and respond, often positively. An initially "centrist" FDR adapted to become a champion of Social Security, unemployment insurance, a minimum wage, and a huge federal jobs program. The coalition achieved those moderate socialist reforms -- the New Deal -- and paid for them by setting aside revolutionary change.

It proved to be a good deal, but only in the short run. Its benefits to workers included a downward redistribution of income and wealth (especially via homeownership), and thereby the emergence of a new "middle class." Relatively well-paid employees were sufficient in number to sustain widespread notions of American exceptionalism, beliefs in ever-rising standards of working-class living across generations, and celebrations of capitalism as guaranteeing these social benefits. The reality was quite different. Not capitalists but rather their critics and victims had forced the New Deal against capitalists' resistance. And those middle-class benefits bypassed most African Americans.

The good deal did not last because U.S. capitalists largely resented the New Deal and sought to undo it. With World War II's end and FDR's death in 1945, the undoing accelerated. An anti-Soviet Cold War plus anti-communist/socialist crusades at home gave patriotic cover for destroying the New Deal coalition. The 1947 Taft-Hartley Act targeted organized labor. Senate and House committees spearheaded a unified effort (government, mass media, and academia) to demonize, silence, and socially exclude communists, socialists, leftists, etc. For decades after 1945 -- and still now in parts of the United States -- a sustained hysteria defined all left-wing thought, policy, or movement as always and necessarily the worst imaginable social evil.

Over time, the New Deal coalition was destroyed and left-wing thinking was labeled "disloyal." Even barely left-of-center labor and political organizations repeatedly denounced and distanced themselves from any sort of anti-capitalist impulse, any connection to socialism. Many New Deal reforms were evaded, amended, or repealed. Some simply vanished from politicians' knowledge and vocabulary and then journalists' too. Having witnessed the purges of leftist colleagues from 1945 through the 1950s, a largely docile academic community celebrated capitalism in general and U.S. capitalism in particular. The good in U.S. society was capitalism's gift. The rest resulted from government or foreign or ideological interferences in capitalism's wonderful invisible hand. Any person or group excluded from this American Dream had only themselves to blame for inadequate ability, insufficient effort, or ideological deviancy.

In this context, U.S. capitalism strode confidently toward the 21st century. The Soviet threat had imploded. A divided Europe threatened no U.S. interests. Its individual nations competed for U.S. favor (especially the UK). China's poverty blocked its becoming an economic competitor. U.S. military and technological supremacy seemed insurmountable.

Amid success, internal contradictions surfaced. U.S. capitalism crashed three times. The first happened early in 2000 (triggered by dot-com share-price inflation); next came the big crash of 2008 (triggered by defaulting subprime mortgages); and the hugest crash hit in 2020 (triggered by COVID-19). Unprepared economically, politically, and ideologically for any of them, the Federal Reserve responded by creating vast sums of new money that it threw at/lent to (at historically low interest rates) banks, large corporations, etc. Three successive exercises in trickle-down economic policy saw little trickle down. No underlying economic problems (inequality, excess systemic debts, cyclical instability, etc.) have been solved. On the contrary, all worsened. In other words, class war has been intensified.

What then is to be done? First, we need to recognize the class war that is underway and commit to fighting it. On that basis, we must organize a mass base to put real political force behind social democratic policies, parties, and politicians. We need something like the New Deal coalition. The pandemic, economic crash, and gross official policy failures (including violent official scapegoating) draw many toward classical social democracy. The successes of the Democratic Socialists of America show this.

Second, we must face a major obstacle. Since 1945, capitalists and their supporters developed arguments and institutions to undo the New Deal and its leftist legacies. They silenced, deflected, co-opted, and/or demonized criticisms of capitalism. Strategic decisions made by both the U.S. New Deal and European social democracy contributed to their defeats. Both always left and still leave employers exclusively in positions to (1) receive and dispense their enterprises' profits and (2) decide and direct what, how, and where their enterprises produce. Those positions gave capitalists the financial resources and power -- politically, economically, and culturally -- repeatedly to outmaneuver and repress labor and the left.

Third, to newly organized versions of a New Deal coalition or of social democracy, we must add a new element. We cannot again leave capitalists in the exclusive positions to receive enterprise profits and make major enterprise decisions. The new element is thus the demand to change enterprises producing goods and services. From hierarchical, capitalist organizations (where owners, boards of directors, etc., occupy the employer position) we need to transition to the altogether different democratic, worker co-op organizations. In the latter, no employer/employee split occurs. All workers have equal voice in deciding what gets produced, how, and where and how any profits get used. The collective of all employees is their own employer. As such an employer, the employees will finally protect and thus secure the reforms associated with the New Deal and social democracy.

We could describe the transition from capitalist to worker co-op enterprise organizations as a revolution. That would resolve the old debate of reform versus revolution. Revolution becomes the only way finally to secure progressive reforms. Capitalism's reforms were generated by the system's impacts on people and their resulting demands for change. Capitalism's resistances to those reforms -- and undoing them after they happened -- spawned the revolution needed to secure them. In that revolution, society moves beyond capitalism itself. So it was in the French Revolution: demands for reform within feudal society could only finally be realized by a social transition from feudalism to capitalism.

This article was produced by Economy for All , a project of the Independent Media Institute. Join the debate on Facebook More articles by: Richard D. Wolff

Richard Wolff is the author of Capitalism Hits the Fan and Capitalism's Crisis Deepens . He is founder of Democracy at Work .

[Jun 19, 2020] The Police Weren t Created to Protect and Serve. They Were Created to Maintain Order. A Brief Look at the History of Police

Highly recommended!
Notable quotes:
"... It's a commonplace to say the primary job of police is to "protect and serve," but that's not their goal in the way it's commonly understood -- not in the deed, the practice of what they daily do, and not true in the original intention, in why police departments were created in the first place. "Protect and serve" as we understand it is just the cover story. ..."
"... Urban police forces in America were created for one purpose -- to "maintain order" after a waves of immigrants swept into northern U.S. cities, both from abroad and later from the South, immigrants who threatened to disturb that "order." The threat wasn't primarily from crime as we understand it, from violence inflicted by the working poor on the poor or middle class. The threat came from unions, from strikes, and from the suffering, the misery and the anger caused by the rise of rapacious capitalism. ..."
"... What's being protected? The social order that feeds the wealthy at the expense of the working poor. Who's being served? Owners, their property, and the sources of their wealth, the orderly and uninterrupted running of their factories. The goal of police departments, as originally constituted, was to keep the workers in line, in their jobs, and off the streets. ..."
"... In most countries, the police are there solely to protect the Haves from the Have-Nots. In fact, when the average frustrated citizen has trouble, the last people he would consider turning to are the police. ..."
"... Jay Gould, a U.S. robber baron, is supposed to have claimed that he could hire one half of the working class to kill the other half. ..."
"... I spent some time in the Silver Valley of northern Idaho. This area was the hot bed of labor unrest during the 1890's. Federal troops controlled the area 3 separate times,1892, 1894 and 1899. Twice miners hijacked trains loaded them with dynamite and drove them to mining company stamping mills that they then blew up. Dozens of deaths in shoot outs. The entire male population was herded up and placed in concentration camps for weeks. The end result was the assassination of the Governor in 1905. ..."
"... Interestingly this history has been completely expunged. There is a mining museum in the town which doesn't mention a word on these events. Even nationwide there seems to be a complete erasure of what real labor unrest can look like.. ..."
"... Straight-up fact: The police weren't created to preserve and protect. They were created to maintain order, [enforced] over certain subjected classes and races of people, including–for many white people, too–many of our ancestors, too.* ..."
Jun 18, 2020 | www.nakedcapitalism.com

Yves here. Tom mentions in passing the role of Pinkertons as goons for hire to crush early labor activists. Some employers like Ford went as far as forming private armies for that purpose. Establishing police forces were a way to socialize this cost.

By Thomas Neuberger. Originally published at DownWithTyranny!

One version of the "thin blue line" flag, a symbol used in a variety of ways by American police departments , their most fervent supporters , and other right-wing fellow travelers . The thin blue line represents the wall of protection that separates the orderly "us" from the disorderly, uncivilized "them" .

[In the 1800s] the police increasingly presented themselves as a thin blue line protecting civilization, by which they meant bourgeois civilization, from the disorder of the working class.
-- Sam Mitrani here

It's a commonplace to say the primary job of police is to "protect and serve," but that's not their goal in the way it's commonly understood -- not in the deed, the practice of what they daily do, and not true in the original intention, in why police departments were created in the first place. "Protect and serve" as we understand it is just the cover story.

To understand the true purpose of police, we have to ask, "What's being protected?" and "Who's being served?"

Urban police forces in America were created for one purpose -- to "maintain order" after a waves of immigrants swept into northern U.S. cities, both from abroad and later from the South, immigrants who threatened to disturb that "order." The threat wasn't primarily from crime as we understand it, from violence inflicted by the working poor on the poor or middle class. The threat came from unions, from strikes, and from the suffering, the misery and the anger caused by the rise of rapacious capitalism.

What's being protected? The social order that feeds the wealthy at the expense of the working poor. Who's being served? Owners, their property, and the sources of their wealth, the orderly and uninterrupted running of their factories. The goal of police departments, as originally constituted, was to keep the workers in line, in their jobs, and off the streets.

Looking Behind Us

The following comes from an essay published at the blog of the Labor and Working-Class History Association, an academic group for teachers of labor studies, by Sam Mitrani, Associate Professor of History at the College of DuPage and author of The Rise of the Chicago Police Department: Class and Conflict, 1850-1894 .

According to Mitrani, "The police were not created to protect and serve the population. They were not created to stop crime, at least not as most people understand it. And they were certainly not created to promote justice. They were created to protect the new form of wage-labor capitalism that emerged in the mid to late nineteenth century from the threat posed by that system's offspring, the working class."

Keep in mind that there were no police departments anywhere in Europe or the U.S. prior to the 19th century -- in fact, "anywhere in the world" according to Mitrani. In the U.S., the North had constables, many part-time, and elected sheriffs, while the South had slave patrols. But nascent capitalism soon created a large working class, and a mass of European immigrants, "yearning to be free," ended up working in capitalism's northern factories and living in its cities.

"[A]s Northern cities grew and filled with mostly immigrant wage workers who were physically and socially separated from the ruling class, the wealthy elite who ran the various municipal governments hired hundreds and then thousands of armed men to impose order on the new working class neighborhoods ." [emphasis added]

America of the early and mid 1800s was still a world without organized police departments. What the Pinkertons were to strikes , these "thousands of armed men" were to the unruly working poor in those cities.

Imagine this situation from two angles. First, from the standpoint of the workers, picture the oppression these armed men must have represented, lawless themselves yet tasked with imposing "order" and violence on the poor and miserable, who were frequently and understandably both angry and drunk. (Pre-Depression drunkenness, under this interpretation, is not just a social phenomenon, but a political one as well.)

Second, consider this situation from the standpoint of the wealthy who hired these men. Given the rapid growth of capitalism during this period, "maintaining order" was a costly undertaking, and likely to become costlier. Pinkertons, for example, were hired at private expense, as were the "thousands of armed men" Mitrani mentions above.

The solution was to offload this burden onto municipal budgets. Thus, between 1840 and 1880, every major northern city in America had created a substantial police force, tasked with a single job, the one originally performed by the armed men paid by the business elites -- to keep the workers in line, to "maintain order" as factory owners and the moneyed class understood it.

"Class conflict roiled late nineteenth century American cities like Chicago, which experienced major strikes and riots in 1867, 1877, 1886, and 1894. In each of these upheavals, the police attacked strikers with extreme violence, even if in 1877 and 1894 the U.S. Army played a bigger role in ultimately repressing the working class. In the aftermath of these movements, the police increasingly presented themselves as a thin blue line protecting civilization , by which they meant bourgeois civilization, from the disorder of the working class. This ideology of order that developed in the late nineteenth century echoes down to today – except that today, poor black and Latino people are the main threat, rather than immigrant workers."

That "thin blue line protecting civilization" is the same blue line we're witnessing today. Yes, big-city police are culturally racist as a group; but they're not just racist. They dislike all the "unwashed." A recent study that reviewed "all the data available on police shootings for the year 2017, and analyze[d] it based on geography, income, and poverty levels, as well as race" revealed the following remarkable pattern:

" Police violence is focused overwhelmingly on men lowest on the socio-economic ladder : in rural areas outside the South, predominately white men; in the Southwest, disproportionately Hispanic men; in mid-size and major cities, disproportionately black men. Significantly, in the rural South, where the population is racially mixed, white men and black men are killed by police at nearly identical rates."

As they have always been, the police departments in the U.S. are a violent force for maintaining an order that separates and protects society's predator class from its victims -- a racist order to be sure, but a class-based order as well.

Looking Ahead

We've seen the violence of the police as visited on society's urban poor (and anyone else, poor or not, who happens to be the same race and color as the poor too often are), and we've witnessed the violent reactions of police to mass protests challenging the racism of that violence.

But we've also seen the violence of police during the mainly white-led Occupy movement (one instance here ; note that while the officer involved was fired, he was also compensated $38,000 for "suffering he experienced after the incident").

So what could we expect from police if there were, say, a national, angry, multiracial rent strike with demonstrations? Or a student debt s trike? None of these possibilities are off the table, given the economic damage -- most of it still unrealized -- caused by the current Covid crisis.

Will police "protect and serve" the protesters, victims of the latest massive transfer of wealth to the already massively wealthy? Or will they, with violence, "maintain order" by maintaining elite control of the current predatory system?

If Mitrani is right, the latter is almost certain.


MK , June 19, 2020 at 12:31 am

Possible solutions? One, universal public works system for everyone 18-20. [Avoiding armed service because that will never happen, nor peace corp.] Not allow the rich to buy then or their children an out. Let the billionaires children work along side those who never had a single family house or car growing up.

Two, eliminate suburban school districts and simply have one per state, broken down into regional areas. No rich [or white] flight to avoid poor systems. Children of differing means growing up side by side. Of course the upper class would simply send their children to private schools, much as the elite do now anyway.

Class and privilege is the real underlying issue and has been since capital began to be concentrated and hoarded as the article points out. It has to begin with the children if the future is to really change in a meaningful way.

timbers , June 19, 2020 at 8:06 am

I would add items targeted as what is causing inequality. Some of these might be:

1). Abolish the Federal Reserve. It's current action since 2008 are a huge transfer of wealth from us to the wealthy. No more Quantitative Easing, no Fed buying of stocks or bonds.

2). Make the only retirement and medical program allowed Congress and the President, Social Security and Medicare. That will cause it to be improved for all of us.

3). No stock ownership allowed for Congress folk while serving terms. Also, rules against joining those leaving Congress acting as lobbyists.

4). Something that makes it an iron rule that any law passed by Congress and the President, must equally apply to Congress and the President. For example, no separate retirement or healthcare access, but have this more broadly applied to all aspects of legislation and all aspects of life.

MLTPB , June 19, 2020 at 11:11 am

Abolish the Fed and/or abolish the police?

Inbetween, there is

Defund Wall Street
Abolish banking
Abolish lending
Abolish cash
Defund fossil fuel subsidies

Etc.

Broader, more on the economic side, and perhaps more fundamental???

TiPs , June 19, 2020 at 8:34 am

I think you'd also have to legalize drugs and any other thing that leads creation of "organized ciminal groups." Take away the sources that lead to the creation of the well-armed gangs that control illegal activities.

David , June 19, 2020 at 9:32 am

Unfortunately, legalising drugs in itself, whatever the abstract merits, wouldn't solve the problem. Organised crime would still have a major market selling cut-price, tax-free or imitation drugs, as well, of course, as controlled drugs which are not allowed to be sold to just anybody now. Organised crime doesn't arise as a result of prohibitions, it expands into new areas thanks to them, and often these areas involve smuggling and evading customs duties. Tobacco products are legal virtually everywhere, but there's a massive criminal trade in smuggling them from the Balkans into Italy, where taxes are much higher. Any time you create a border, in effect, you create crime: there is even alcohol smuggling between Sweden and Norway. Even when activities are completely legal (such as prostitution in many European countries) organised crime is still largely in control through protection rackets and the provision of "security."

In effect, you'd need to abolish all borders, all import and customs duties and all health and safety and other controls which create price differentials between states. And OC is not fussy, it moves from one racket to another, as the Mafia did in the 1930s with the end of prohibition. To really tackle OC you'd need to legalise, oh, child pornography, human trafficking, sex slavery, the trade in rare wild animals, the trade in stolen gems and conflict diamonds, internet fraud and cyberattacks, and the illicit trade in rare metals, to name, as they say, but a few. As Monty Python well observed, the only way to reduce the crime rate (and hence the need for the police) is to reduce the number of criminal offences. Mind you, if you defund the police you effectively legalise all these things anyway.

km , June 19, 2020 at 11:48 am

I dunno, ending Prohibition sure cut down on the market for bootleg liquor. It's still out there, but the market is nothing like what it once was.

Most people, even hardcore alcoholics, aren't going to go through the hassle of buying rotgut of dubious origin just to save a few dimes, when you can go to the corner liquor store and get a known product, no issues with supply 'cause your dealer's supplier just got arrested.

For that matter, OC is still definitely out there, but it isn't the force that it was during Prohibition, or when gambling was illegal.

As an aside, years ago, I knew a guy whose father had worked for Meyer Lansky's outfit, until Prohibition put him and others out of a job. As a token of his loyal service, the outfit gave him a (legal) liquor store to own and run.

David , June 19, 2020 at 12:09 pm

Yes, but in Norway, for example, you'd pay perhaps $30 for a six-pack of beer in a supermarket, whereas you'd pay half that to somebody selling beers out of the back of a car. In general people make too much of the Prohibition case, which was geographically and politically very special, and a a stage in history when OC was much less sophisticated. The Mob diversified into gambling and similar industries (higher profits, fewer risks). These days OC as a whole is much more powerful and dangerous, as well as sophisticated, than it was then, helped by globalisation and the Internet.

rob , June 19, 2020 at 12:25 pm

I think ending prohibitions on substances, would take quite a bite out of OC's pocketbook. and having someone move trailers of ciggarettes of bottles of beer big deal. That isn't really paying for the lifestyle.and it doesn't buy political protection. An old number I saw @ 2000 . the UN figured(guess) that illegal drugs were @ 600 billion dollars/year industry and most of that was being laundered though banks. Which to the banking industry is 600 billion in cash going into it's house of mirrors. Taking something like that out of the equation EVERY YEAR is no small thing. And the lobby from the OC who wants drugs kept illegal, coupled with the bankers who want the cash inputs equals a community of interest against legalization
and if the local police forces and the interstate/internationals were actually looking to use their smaller budgets and non-bill of rights infringing tactics, on helping the victim side of crimes then they could have a real mission/ Instead of just abusing otherwise innocent people who victimize no one.
so if we are looking for "low hanging fruit" . ending the war on drugs is a no brainer.

flora , June 19, 2020 at 1:36 am

Thanks for this post.

"What's being protected? The social order that feeds the wealthy at the expense of the working poor. " – Neuberger

In the aftermath of these movements, the police increasingly presented themselves as a thin blue line protecting civilization, by which they meant bourgeois civilization, from the disorder of the working class. – Mitrani

I think this ties in, if only indirectly, with the way so many peaceful recent protests seemed to turn violent after the police showed up. It's possible I suppose the police want to create disorder to frighten not only the protestors with immediate harm but also frighten the bourgeois about the threate of a "dangerous mob". Historically violent protests created a political backlash that usually benefited political conservatives and the wealthy owners. (The current protests may be different in this regard. The violence seems to have created a political backlash against conservatives and overzealous police departments' violence. ) My 2 cents.

John Anthony La Pietra , June 19, 2020 at 2:20 am

Sorry, but the title sent my mind back to the days of old -- of old Daley, that is, and his immortal quote from 1968: "Gentlemen, let's get the thing straight, once and for all. The policeman isn't there to create disorder; the policeman is there to preserve disorder."

Adam1 , June 19, 2020 at 7:39 am

LOL!!! great quote. Talk about saying it the way it is.

It kind of goes along with, "Police violence is focused overwhelmingly on men lowest on the socio-economic ladder: in rural areas outside the South, predominately white men; in the Southwest, disproportionately Hispanic men; in mid-size and major cities, disproportionately black men. Significantly, in the rural South, where the population is racially mixed, white men and black men are killed by police at nearly identical rates."

I bang my head on the table sometimes because poor white men and poor men of color are so often placed at odds when they increasingly face (mostly) the same problems. God forbid someone tried to unite them, there might really be some pearl clutching then.

rob , June 19, 2020 at 8:07 am

yeah, like Martin Luther King's "poor people's campaign". the thought of including the poor ,of all colors .. just too much for the status quo to stomach.
The "mechanism" that keeps masses in line . is one of those "invisible hands" too.

run75441 , June 19, 2020 at 8:23 am

Great response! I am sure you have more to add to this. A while back, I was researching the issues you state in your last paragraph. Was about ten pages into it and had to stop as I was drawn out of state and country. From my research.

While not as overt in the 20th century, the distinction of black slave versus poor white man has kept the class system alive and well in the US in the development of a discriminatory informal caste system. This distraction of a class level lower than the poorest of the white has kept them from concentrating on the disproportionate, and growing, distribution of wealth and income in the US. For the lower class, an allowed luxury, a place in the hierarchy and a sure form of self esteem insurance.

Sennett and Cobb (1972) observed that class distinction sets up a contest between upper and lower class with the lower social class always losing and promulgating a perception amongst themselves the educated and upper classes are in a position to judge and draw a conclusion of them being less than equal. The hidden injury is in the regard to the person perceiving himself as a piece of the woodwork or seen as a function such as "George the Porter." It was not the status or material wealth causing the harsh feelings; but, the feeling of being treated less than equal, having little status, and the resulting shame. The answer for many was violence.

James Gilligan wrote "Violence; Reflections on A National Epidemic." He worked as a prison psychiatrist and talked with many of the inmates of the issues of inequality and feeling less than those around them. His finding are in his book which is not a long read and adds to the discussion.

A little John Adams for you.

" The poor man's conscience is clear . . . he does not feel guilty and has no reason to . . . yet, he is ashamed. Mankind takes no notice of him. He rambles unheeded.

In the midst of a crowd; at a church; in the market . . . he is in as much obscurity as he would be in a garret or a cellar.

He is not disapproved, censured, or reproached; he is not seen . . . To be wholly overlooked, and to know it, are intolerable ."

likbez, June 19, 2020 at 3:18 pm

That's a very important observation.

Racism, especially directed toward blacks, along with "identity wedge," is a perfect tool for disarming poor white, and suppressing their struggle for a better standard of living, which considerably dropped under neoliberalism.

In other words, by providing poor whites with a stratum of the population that has even lower social status, neoliberals manage to co-opt them to support the policies which economically ate detrimental to their standard of living as well as to suppress the protest against the redistribution of wealth up and dismantling of the New Deal capitalist social protection network.

This is a pretty sophisticated, pretty evil scheme if you ask me. In a way, "Floydgate" can be viewed as a variation on the same theme. A very dirty game indeed, when the issue of provision of meaningful jobs for working poor, social equality, and social protection for low-income workers of any color is replaced with a real but of secondary importance issue of police violence against blacks.

This is another way to explain "What's the matter with Kansas" effect.

John Anthony La Pietra, June 19, 2020 at 6:20 pm

I like that one! - and I have to admit it's not familiar to me, though I've been a fan since before I got to play him in a neighboring community theater. Now I'm having some difficulty finding it. Where is it from, may I ask?

run75441, June 20, 2020 at 7:56 am

JAL:

Page 239, "The Works of John Adams, Second President of the United States."

Read the book "Violence: Reflections of A National Epidemic" . Not a long read and well documented.

Carla , June 19, 2020 at 12:39 pm

MLK Jr. tried, and look what happened to him once he really got some traction. If the Rev. William Barber's Poor People's Campaign picks up steam, I'm afraid the same thing will happen to him.

I wish it were only pearl-clutching that the money power would resort to, but that's not the way it works.

JacobiteInTraining , June 19, 2020 at 9:20 am

Yeah – that quote struck me too, never seen it before. At times when they feel so liberated to 'say the quiet part out loud', then as now, you know the glove is coming off and the vicious mailed fist is free to roam for victims.

Those times are where you know you need to resist or .well, die in many cases.

That's something that really gets me in public response to many of these things. The normal instinct of the populace to wake from their somnambulant slumber just long enough to ascribe to buffoonery and idiocy ala Keystone Cops the things so much better understood as fully consciously and purposefully repressive, reactionary, and indicating a desire to take that next step to crush fully. To obliterate.

Many responses to this – https://twitter.com/oneunderscore__/status/1273809160128389120 – are like, 'the police are dumb', 'out of touch', 'a lot of dumb gomer pyles in that room, yuk yuk yuk'. Or, 'cops/FBI are so dumb to pursue this antifa thing, its just a boogieman' thinking that somehow once the authorities realize 'antifa' is a boogieman, their attitudes towards other protesters will somehow be different 'now that they realize the silliness of the claims'.

No, not remotely the case – to a terrifyingly large percentage of those in command, and in rank & file they know exactly where it came from, exactly how the tactics work, and have every intention of classifying all protesters (peaceful or not) into that worldview. The peaceful protesters *are* antifa in their eyes, to be dealt with in the fully approved manner of violence and repression.

km , June 19, 2020 at 11:56 am

In most countries, the police are there solely to protect the Haves from the Have-Nots. In fact, when the average frustrated citizen has trouble, the last people he would consider turning to are the police.

This is why in the Third World, the only job of lower social standing than "policeman" is "police informer".

cripes , June 19, 2020 at 3:35 am

The anti-rascist identity of the recent protests rests on a much larger base of class warfare waged over the past 40 years against the entire population led by a determined oligarchy and enforced by their political, media and militarized police retainers. This same oligarchy, with a despicable zeal and revolting media-orchestrated campaign–co-branding the movement with it's usual corporate perpetrators– distorts escalating carceral and economic violence solely through a lens of racial conflict and their time-tested toothless reforms. A few unlucky "peace officers" may have to TOFTT until the furor recedes, can't be helped.

Crowding out debt relief, single payer health, living wages, affordable housing and actual justice reform from the debate that would benefit African Americans more than any other demographic is the goal.

The handful of Emperors far prefer kabuki theater and random ritual Seppuku than facing the rage of millions of staring down the barrel of zero income, debt, bankruptcy, evictions and dispossession. The Praetorians will follow the money as always.

I suppose we'll get some boulevards re-named and a paid Juneteenth holiday to compensate for the destruction 100+ years of labor rights struggle, so there's that..

Boatwright , June 19, 2020 at 7:51 am

Homestead, Ludlow, Haymarket, Matewan -- the list is long

Working men and women asking for justice gunned down by the cops. There will always be men ready to murder on command as long as the orders come from the rich and powerful. We are at a moment in history folks were some of us, today mostly people of color, are willing to put their lives on the line. It's an ongoing struggle.

MichaelSF , June 19, 2020 at 12:18 pm

Jay Gould, a U.S. robber baron, is supposed to have claimed that he could hire one half of the working class to kill the other half.

https://en.wikipedia.org/wiki/Jay_Gould

rob , June 19, 2020 at 7:58 am

So how can a tier of society(the police) . be what a society needs ? When as this story and many others show how and why the police were formed. To break heads. When they have been "the tool" of the elite forever. When so many of them are such dishonest, immoral, wanna be fascists. And the main direction of the US is towards a police state and fascists running the show . both republican and democrat. With technology being the boot on the neck of the people and the police are there to take it to the streets.

Can those elusive "good apples" turn the whole rotten barrel into sweet smelling apple pie? That is a big ask.

Or should the structure be liquidated, sell their army toys. fill the ranks with people who are not pathological liars and abusers and /or racists; of one sort or another. Get rid of the mentality of overcompensation by uber machismo. and make them watch the andy griffith show. They ought to learn that they can be respected if they are good people, and that they are not respected because they seek respect through fear and intimidation.

Is that idiot cry of theirs, .. the whole yelling at you; demanding absolute obedience to arbitrary ,assinine orders, really working to get them respect or is it just something they get off on?

When the police are shown to be bad, they strike by work slowdown, or letting a little chaos loose themselves. So the people know they need them So any reform of the police will go through the police not doing their jobs . but then something like better communities may result. less people being busted and harassed , or pulled over for the sake of a quota . may just show we don't need so much policing anyway. And then if the new social workers brigade starts intervening in peoples with issues when they are young and in school maybe fewer will be in the system. Couple that with the police not throwing their family in jail for nothing, and forcing them to pay fines for breaking stupid laws. The system will have less of a load, and the new , better cops without attitudes will be able to handle their communities in a way that works for everyone. Making them a net positive, as opposed to now where they are a net negative.
Also,

The drug war is over. The cops have only done the bidding of the organized criminal elements who make their bread and butter because of prohibition.

Our representatives can legally smoke pot , and grow it in their windowboxes in the capital dc., but people in many places are still living in fear of police using possession of some substance,as a pretext to take all their stuff,throw them in jail. But besides the cops, there are the prosecutors . they earn their salaries by stealing it from poor people through fines for things that ought to be legal. This is one way to drain money from poor communities, causing people to go steal from others in society to pay their court costs.

And who is gonna come and bust down your door when you can't pay a fine and choose to pay rent and buy your kids food instead . the cops. just doing their jobs. Evil is the banality of business as usual

Tom Stone , June 19, 2020 at 8:20 am

The late Kevin R C O'Brien noted that in every case where the Police had been ordered to "Round up the usual suspects" they have done so, and delivered them where ordered. It did not matter who the "Usual suspects" were, or to what fate they were to be delivered. They are the King's men and they do the King's bidding.

The Rev Kev , June 19, 2020 at 10:10 am

To have a reasonable discussion, I think that it should be recognized that modern police are but one leg of a triad. The first of course is the police who appear to seem themselves as not part of a community but as enforcers in that community. To swipe an idea from Mao, the police should move amongst the people as a fish swims in the sea. Not be a patrolling shark that attacks who they want at will knowing that there will be no repercussions against them. When you get to the point that you have police arresting children in school for infractions of school discipline – giving them a police record – you know that things have gotten out of hand.

The next leg is the courts which of course includes prosecutors. It is my understanding that prosecutors are elected to office in the US and so have incentives to appear to be tough on crime"" . They seem to operate more like 'Let's Make a Deal' from what I have read. When they tell some kid that he has a choice of 1,000 years in prison on trumped up charges or pleads guilty to a smaller offence, you know that that is not justice at work. Judges too operate in their own world and will always take the word of a policeman as a witness.

And the third leg is the prisons which operate as sweatshops for corporate America. It is in the interest of the police and the courts to fill up the prisons to overflowing. Anybody remember the Pennsylvania "kids for cash" scandal where kids lives were being ruined with criminal records that were bogus so that some people could make a profit? And what sort of prison system is it where a private contractor can build a prison without a contract at all , knowing that the government (California in this case) will nonetheless fill it up for a good profit.

In short, in sorting out police doctrine and methods like is happening now, it should be recognized that they are actually only the face of a set of problems.

MLTPB , June 19, 2020 at 11:00 am

How did ancient states police? Perhaps Wiki is a starting point of this journey. Per Its entry, Police, in ancient Greece, policing was done by public owned slaves. In Rome, the army, initially. In China, prefects leading to a level of government called prefectures .

Pookah Harvey , June 19, 2020 at 10:54 am

I spent some time in the Silver Valley of northern Idaho. This area was the hot bed of labor unrest during the 1890's. Federal troops controlled the area 3 separate times,1892, 1894 and 1899. Twice miners hijacked trains loaded them with dynamite and drove them to mining company stamping mills that they then blew up. Dozens of deaths in shoot outs. The entire male population was herded up and placed in concentration camps for weeks. The end result was the assassination of the Governor in 1905.

Interestingly this history has been completely expunged. There is a mining museum in the town which doesn't mention a word on these events. Even nationwide there seems to be a complete erasure of what real labor unrest can look like..

rob , June 19, 2020 at 11:58 am

Yeah, labor unrest does get swept under the rug. Howard zinn had examples in his works "the peoples history of the United States" The pictched battles in upstate new york with the Van Rennselear's in the 1840's breaking up rennselearwyk . the million acre estate of theirs . it was a rent strike.

People remembering , we have been here before doesn't help the case of the establishment so they try to not let it happen.

We get experts telling us . well, this is all new we need experts to tell you what to think. It is like watching the footage from the past 100 years on film of blacks marching for their rights and being told.. reform is coming.. the more things change, the more things stay the same. Decade after decade. Century after century. Time to start figuring this out people. So, the enemy is us. Now what?

Carolinian , June 19, 2020 at 11:01 am

Doubtless the facts presented above are correct, but shouldn't one point out that the 21st century is quite different from the 19th and therefore analogizing the current situation to what went on before is quite facile? For example it's no longer necessary for the police to put down strikes because strike actions barely still exist. In our current US the working class has diminished greatly while the middle class has expanded. We are a much richer country overall with a lot more people–not just those one percenters–concerned about crime. Whatever one thinks of the police, politically an attempt to go back to the 18th century isn't going to fly.

MLTPB , June 19, 2020 at 11:15 am

Perhaps we are more likely to argue among ourselves, when genetic fallacy is possibly in play.

Pookah Harvey , June 19, 2020 at 11:37 am

" the 21st century is quite different from the 19th "

From the Guardian: "How Starbucks, Target, Google and Microsoft quietly fund police through private donations"

More than 25 large corporations in the past three years have contributed funding to private police foundations, new report says.

These foundations receive millions of dollars a year from private and corporate donors, according to the report, and are able to use the funds to purchase equipment and weapons with little public input. The analysis notes, for example, how the Los Angeles police department in 2007 used foundation funding to purchase surveillance software from controversial technology firm Palantir. Buying the technology with private foundation funding rather than its public budget allowed the department to bypass requirements to hold public meetings and gain approval from the city council.

The Houston police foundation has purchased for the local police department a variety of equipment, including Swat equipment, sound equipment and dogs for the K-9 unit, according to the report. The Philadelphia police foundation purchased for its police force long guns, drones and ballistic helmets, and the Atlanta police foundation helped fund a major surveillance network of over 12,000 cameras.

In addition to weaponry, foundation funding can also go toward specialized training and support programs that complement the department's policing strategies, according to one police foundation.

"Not a lot of people are aware of this public-private partnership where corporations and wealthy donors are able to siphon money into police forces with little to no oversight," said Gin Armstrong, a senior research analyst at LittleSis.

Maybe it is just me, but things don't seem to be all that different.

Bob , June 19, 2020 at 11:40 am

If we made America Great Again we could go back to the 18th century.

rob , June 19, 2020 at 12:11 pm

While it is true, this is a new century. Knowing how the present came to be, is entirely necessary to be able to attempt any move forward.
The likelihood of making the same old mistakes is almost certain, if one doesn't try to use the past as a reference.
And considering the effect of propaganda and revisionism in the formation of peoples opinions, we do need " learning against learning" to borrow a Jesuit strategy against the reformation, but this time it should embrace reality, rather than sow falsehoods.
But I do agree,
We have never been here before, and now is a great time to reset everything. With all due respect to "getting it right" or at least "better".
and knowing the false fables of righteousness, is what people need to know, before they go about "burning down the house".

Carolinian , June 19, 2020 at 12:42 pm

You know it's not as though white people aren't also afraid of the police. Alfred Hitchcock said he was deathly afraid of police and that paranoia informed many of his movies. Woody Allen has a funny scene in Annie Hall where he is pulled over by a cop and is comically flustered. White people also get shot and killed by the police as the rightwingers are constantly pointing out.

And thousands of people in the streets tell us that police reform is necessary. But the country is not going to get rid of them and replace police with social workers so why even talk about it? I'd say the above is interesting .not terribly relevant.

Mattski , June 19, 2020 at 11:37 am

Straight-up fact: The police weren't created to preserve and protect. They were created to maintain order, [enforced] over certain subjected classes and races of people, including–for many white people, too–many of our ancestors, too.*

And the question that arises from this: Are we willing to the subjects in a police state? Are we willing to continue to let our Black and brown brothers and sisters be subjected BY such a police state, and to half-wittingly be party TO it?

Or do we want to exercise AGENCY over "our" government(s), and decide–anew–how we go out our vast, vast array of social ills.

Obviously, armed police officers with an average of six months training–almost all from the white underclass–are a pretty f*cking blunt instrument to bring to bear.

On our own heads. On those who we and history have consigned to second-class citizenship.
Warning: this is a revolutionary situation. We should embrace it.

*Acceding to white supremacy, becoming "white" and often joining that police order, if you were poor, was the road out of such subjectivity. My grandfather's father, for example, was said to have fled a failed revolution in Bohemia to come here. Look back through history, you will find plenty of reason to feel solidarity, too. Race alone cannot divide us if we are intent on the lessons of that history.

[Jun 19, 2020] A discriminatory informal caste system that racism create was used by neoliberals for supression of white working poor protest against deteriorating standard of living and cooping them to support economic policies of redistribution of wealth up, directly against them

Highly recommended!
Notable quotes:
"... While not as overt in the 20th century, the distinction of black slave versus poor white man has kept the class system alive and well in the US in the development of a discriminatory informal caste system. ..."
"... a class level lower than the poorest of the white has kept them from concentrating on the disproportionate, and growing, distribution of wealth and income in the US. ..."
"... It was not the status or material wealth causing the harsh feelings; but, the feeling of being treated less than equal, having little status, and the resulting shame. ..."
"... In other words, by providing poor whites with a stratum of the population that has even lower social status, neoliberals manage to co-opt them to support the policies which economically ate detrimental to their standard of living as well as to suppress the protest against the redistribution of wealth up and dismantling of the New Deal capitalist social protection network. ..."
"... This is a pretty sophisticated, pretty evil scheme if you ask me. In a way, “Floydgate” can be viewed as a variation on the same theme. A very dirty game indeed, when the issue of provision of meaningful jobs for working poor, social equality, and social protection for low-income workers of any color is replaced with a real but of secondary importance issue of police violence against blacks. ..."
Jun 19, 2020 | www.nakedcapitalism.com

run75441 June 19, 2020 at 8:23 am

...A while back, I was researching the issues you state in your last paragraph. Was about ten pages into it and had to stop as I was drawn out of state and country.

From my research.

While not as overt in the 20th century, the distinction of black slave versus poor white man has kept the class system alive and well in the US in the development of a discriminatory informal caste system.

This distraction of a class level lower than the poorest of the white has kept them from concentrating on the disproportionate, and growing, distribution of wealth and income in the US.

For the lower class, an allowed luxury, a place in the hierarchy and a sure form of self esteem insurance.

Sennett and Cobb (1972) observed that class distinction sets up a contest between upper and lower class with the lower social class always losing and promulgating a perception amongst themselves the educated and upper classes are in a position to judge and draw a conclusion of them being less than equal.

The hidden injury is in the regard to the person perceiving himself as a piece of the woodwork or seen as a function such as "George the Porter."

It was not the status or material wealth causing the harsh feelings; but, the feeling of being treated less than equal, having little status, and the resulting shame.

The answer for many was violence.

James Gilligan wrote "Violence; Reflections on A National Epidemic." He worked as a prison psychiatrist and talked with many of the inmates of the issues of inequality and feeling less than those around them. His finding are in his book which is not a long read and adds to the discussion.

A little John Adams for you.

"The poor man's conscience is clear . . . he does not feel guilty and has no reason to . . . yet, he is ashamed. Mankind takes no notice of him. He rambles unheeded.

In the midst of a crowd; at a church; in the market . . . he is in as much obscurity as he would be in a garret or a cellar.

He is not disapproved, censured, or reproached; he is not seen . . . To be wholly overlooked, and to know it, are intolerable."

likbez June 19, 2020 1:25 pm
That’s a very important observation. Racism, especially directed toward blacks, along with “identity wedge,” is a perfect tool for disarming poor white, and suppressing their struggle for a better standard of living, which considerably dropped under neoliberalism.

In other words, by providing poor whites with a stratum of the population that has even lower social status, neoliberals manage to co-opt them to support the policies which economically ate detrimental to their standard of living as well as to suppress the protest against the redistribution of wealth up and dismantling of the New Deal capitalist social protection network.

This is a pretty sophisticated, pretty evil scheme if you ask me. In a way, “Floydgate” can be viewed as a variation on the same theme. A very dirty game indeed, when the issue of provision of meaningful jobs for working poor, social equality, and social protection for low-income workers of any color is replaced with a real but of secondary importance issue of police violence against blacks.

This is another way to explain “What’s the matter with Kansas” effect.

[Jun 18, 2020] In the Ruins of Neoliberalism The Rise of Antidemocratic Politics in the West by Wendy Brown

Looks like a weak book...
Notable quotes:
"... They conjoin moral righteousness with nearly celebratory amoral and uncivil conduct. They endorse authority while featuring unprecedented public social disinhibition and aggression. They rage against relativism, but also against science and reason, and spurn evidence- based claims, rational argumentation, credibility, and accountability. ..."
"... neoliberalism yielded effects very different from those imagined and sought by its architects. The reasons for this are several. There is, first, a kind of return of the repressed in neoliberalism reason -- a ferocious eruption of the social and political forces that the neoliberals at once opposed, underestimated, and deformed with their stupid free market project. ..."
"... What this means is that actually existing neo- liberalism now features what Sheldon Wolin characterizes as an "enraged" form of majority rule (often termed "populism" by pundits) arising from the society that neoliberals aimed to disintegrate, but failed to vanquish, and thus left without common civil norms or commitments. ..."
"... There is, second, neoliberalism's accidental unleashing of the financial sector and the ways that financialization profoundly undermined neoliberal dreams of a competitive global order lightly tended by supranational institutions, on the one hand, and facilitated by states fully autonomous of economic interests and manipulation, on the other. ..."
"... Third, there are the ways that markets and morals twisted as they were submitted to the grammars and spirit of one another -- that is, as morality was marketized and markets were moralized. Through this process, both became politicized as fighting creeds, thus losing the "organic, spontaneous" character and mode of organizing conduct for which Hayek and his colleagues cherished them. Finally, neoliberalism intensified the nihilism, fatalism, and rancorous resentment already present in late modern culture. ..."
"... Instead, neoliberalism produced a monster its founders would abhor. ..."
Jun 18, 2020 | www.amazon.com

[Neoliberal] Politicians and political victories embolden far-right movements, which in turn acquire sophistication as political handlers and social media experts craft the message. As recruits continue to grow, centrists, mainstream neoliberals, liberals, and leftists are reeling. Outrage, moralizing, satire, and vain hopes that internal factions or scandals on the right will yield self-destruction are far more prevalent than serious strategies for challenging these forces with compelling alternatives. We even have trouble with the naming -- is this authoritarianism, fascism, populism, illiberal democracy, undemocratic liberalism, right-wing plutocracy? Or something else?

Failure to predict, understand, or effectively contest these developments is due partly to blinding assumptions about perduring Western values and institutions, especially progress and Enlightenment and liberal democracy, and partly to the unfamiliar agglomeration of elements in the rising Right -- its curious combination of libertarianism, moralism, authoritarianism, nationalism, hatred of the state, Christian conservatism, and racism.

These new forces conjoin familiar elements of neoliberalism (licensing capital, leashing labor, demonizing the social state and the political, attacking equality, promulgating freedom) with their seeming opposites (nationalism, enforcement of traditional morality, populist antielitism, and demands for state solutions to economic and social problems).

They conjoin moral righteousness with nearly celebratory amoral and uncivil conduct. They endorse authority while featuring unprecedented public social disinhibition and aggression. They rage against relativism, but also against science and reason, and spurn evidence- based claims, rational argumentation, credibility, and accountability.

They disdain politicians and politics while evincing a ferocious will to power and political ambition. Where are we?

Introduction

There has been no shortage of efforts by pundits and scholars alike to answer this question. A composite Left account, whose limits will soon become clear, goes roughly like this: in the Global North, neoliberal economic policy devastated rural and suburban regions, emptying them of decent jobs, pensions, schools, services, and infrastructure as social spending dried up and capital chased the cheap labor and tax havens of the Global South.

Meanwhile, an unprecedented cultural and religious divide was opening. Hip, educated, slender, secular, multicultural, globetrotting urbanites were building a different moral and cultural universe from the midlanders, whose economic woes were salted with steadily growing estrangement from the mores of those who ignored, ridiculed, or disdained them. More than hard up and frustrated, the Christian white rural and sub- urban dwellers were alienated and humiliated, left out, and left behind.

Then there was enduring racism, rising as new immigrants transformed suburban neighborhoods and as policies of "equity and inclusion" appeared to the uneducated white male to favor everyone over him. Thus, liberal political agendas, neoliberal economic agendas, and cosmopolitan cultural agendas generated a growing experience of abandonment, betrayal, and ultimately rage on the part of the new dispossessed, the white working-class and middle-class populations of the First and Second Worlds.

If their dark-skinned counterparts were hurt as much or more by neoliberal decimations of union-protected jobs and public goods, by declining opportunities and educa- tional access and quality, what blacks and Latinos did not suf- fer was lost pride of place in America or the West.

As this phenomenon first took shape, the story goes, conservative plutocrats manipulated it brilliantly: the dispossessed were thrown under the economic bus at every turn while being played a political symphony of Christian family values along with paeans to whiteness and to their young sacrificed in sense- less and endless wars. That is "what's the matter with Kansas."2

Combining patriotism as militarism, Christianity, family, racist dog whistles, and unbridled capitalism was the successful recipe of conservative neoliberals until the 2008 finance capital crisis devastated incomes, retirements, and home ownership for its working-class and middle-class white base.3

With even the economists muttering that they had been wrong about unchecked deregulation, debt financing, and globalization, serious displacement was now required. This meant screaming about ISIS, undocumented immigrants, affirmative action myths, and above all, demonizing government and the social state for the economic catastrophe -- slyly shifting the blame from Wall Street to Washington because the latter mopped up the mess by rescuing the banks while hanging little people out to dry. Thus was a second wave of reaction to neoliberalism born, this one more unruly, populist, and ugly. Already galled by an elegant black family in the White House, disgruntled whites were also fed a steady diet of right-wing commentary by Fox News, talk radio, and social media, inflected from the fringes as a potpourri of previously isolated movements -- white nationalist, libertarian, antigovernment, and fascist -- connected with each other via the internet.4

... ... ...

...neoliberalism by itself caused the hard-right insurgency in the West today or that every dimension of the present, from the catastrophes generating great flows of refugees to Europe and North America to the political siloization and polarization generated by digital media can be reduced to neoliberalism.8

Rather, the argument is that nothing is untouched by a neoliberal mode of reason and valuation and that neoliberalism's attack on democracy has everywhere inflected law, political culture, and political subjectivity.

Understanding the roots and energies of the current situation requires appreciating neoliberal political culture and subject production, not only the economic conditions and enduring racisms that spawned it. It means appreciating the rise of white nationalist authoritarian political formations as animated by the mobilized anger of the economically abandoned and racially resentful, but as contoured by more than three decades of neoliberal assaults on democracy, equality, and society.

White working-class and middle-class economic suffering and racialized rancor, far from distinct from these assaults, acquire voice and shape from them. These assaults also fuel (though they do not by themselves cause) the Christian nationalist ambition to (re)conquer the West. They also inter- mix with an intensifying nihilism manifesting as broken faith in truth, facticity, and foundational values.

Especially given widespread disillusionment with the interminable Middle East wars, militaristic patriotism and family values were no longer enough.

... ... ...

The fifth chapter also develops a leitmotif running through the others: as I have already noted, neoliberalism yielded effects very different from those imagined and sought by its architects. The reasons for this are several. There is, first, a kind of return of the repressed in neoliberalism reason -- a ferocious eruption of the social and political forces that the neoliberals at once opposed, underestimated, and deformed with their stupid free market project.

What this means is that actually existing neo- liberalism now features what Sheldon Wolin characterizes as an "enraged" form of majority rule (often termed "populism" by pundits) arising from the society that neoliberals aimed to disintegrate, but failed to vanquish, and thus left without common civil norms or commitments.

There is, second, neoliberalism's accidental unleashing of the financial sector and the ways that financialization profoundly undermined neoliberal dreams of a competitive global order lightly tended by supranational institutions, on the one hand, and facilitated by states fully autonomous of economic interests and manipulation, on the other. 19

Third, there are the ways that markets and morals twisted as they were submitted to the grammars and spirit of one another -- that is, as morality was marketized and markets were moralized. Through this process, both became politicized as fighting creeds, thus losing the "organic, spontaneous" character and mode of organizing conduct for which Hayek and his colleagues cherished them. Finally, neoliberalism intensified the nihilism, fatalism, and rancorous resentment already present in late modern culture.

Together, these developments and effects generated something radically different from the neoliberal utopia of an inegalitarian liberal order in which individuals and families would be politically pacified by markets and morals and subtended by an autonomous authoritative, but depoliticized state. Instead, neoliberalism produced a monster its founders would abhor.

[Jun 18, 2020] This is clearly Catch-22 situation as the global crisis of neoliberalism and neoliberal globalization is overlaid on the current racial riots and COVID-19 level of unemployment

Highly recommended!
Jun 18, 2020 | angrybearblog.com

likbez , June 17, 2020 11:11 pm

@Ron (RC) Weakley (a.k.a., Darryl for a while at EV) June 16, 2020 4:00 pm

> the Democratic Party depends upon the problems of racial discrimination to win elections. It is a Catch-22 dilemma.

Yes. Thanks you. This is clearly Catch-22 situation as the global crisis of neoliberalism and neoliberal globalization is overlaid on the current racial riots and COVID-19 level of unemployment.

I do not pretend that I see it right. Only time will tell. But here is my view:

IMHO the developments of neoliberalism in the US generated a social system radically different from the neoliberal utopia of the benign rule of the financial oligarchy over politically neutered by free-market ideology and brainwashed "homo homini lupus est" neoliberal rationality population. Which should passively submit to the "depoliticized" version of the National Security State and act strictly as a consumer and passive voter.

Kind of replay of the political reality of Stalinism (with the neoliberal deification of "free market" and competition as the replacement of Marxism; in both case playing the role of state-enforced secular religion questioning of which is a punishable heresy )

Unlike Stalinism, Neoliberalism enforces its secular-religious doctrine on a new "inverted totalitarianism" level with minimal physical repression of dissidents. MSM brainwashing, defunding, ostracism and shunning are the main tools.

The use of external enemy as the scapegoat is the same under both Stalinism and late neoliberalism with the accusation of being a "foreign agent" as a natural part of the dirty fight of various factions of oligarchy for power.

But generally, this is more of the "Brave New World" model than the "1984" model. See https://www.nytimes.com/2017/02/13/books/review/which-dystopian-novel-got-it-right-orwells-1984-or-huxleys-brave-new-world.html

Despite Hayek's hope about politically neutered population ruled by financial oligarchy neoliberalism intensified the rancorous resentment already present in modern culture.

Now we see a kind of return of the repressed under neoliberalism violent social protests that the neoliberals always opposed, and which they deformed with the injection of a heavy doze of identity politics.

As a result, we now have clear resurgence of the far-right nationalism and simultaneously the rise of "woke" far left with its radical feminism, anarchism, LGBT, and a one-dimensional "anti-racism" (strictly white vs black as it if is the only one in existence and black racism a la South Africa or Rhodesia does not exists ).

In a way, this is a return to the very dangerous and unpredictable social situation that existed in late 1920th on a new level, but without Marxists as a political player. A very dangerous level with elements of Bradbury's "Fahrenheit 451.": Toppling of statues is not that different from book burning.

Pelosi wearing an African scarf looks like a failed attempt of neoliberal Dems to get it under control of a monster that they created via identity politics.

Neoliberal political culture and systemic impoverishment of the lower 80% of the population create the economic conditions for enduring racism and glaring economic inequality.

Add to this identity politics, used as the "divide and conquer" strategy for the political isolation and partial cooptation (despite clear oppression on the part of neoliberals) of the white working-class ("What's the matter with Kansas" effect ) and the mixture becomes clearly explosive.

Identity wedge worked beautifully for several decades, but now it looks like it got out of control and provoke a clash of far-left with far-right nationalists in a real 1920th fashion. https://www.gopusa.com/man-shot-in-albuquerque-as-armed-citizens-try-to-defend-conquistador-statue-from-rioters/

The US financial oligarchy is no less evil than either Italian or Kosher-Nostra mafia. They are completely ruthless. And that means that they still might be able to swipe this under the rug: one way, or another. Racial protests, or coming to power of radical far-right does not threaten their power, but possible disintegration of the state in Ukrainian Maidan fashion clearly does.

So how events will unfold in completely unclear. I just try to provide my 2c within the adopted framework of analysis.

[Jun 16, 2020] How Woke Politics Keeps Class Solidarity Down by GREGOR BASZAK

Highly recommended!
Notable quotes:
"... Anti-racism as an ideology serves a perfect function for corporations that ultimately take workers for granted. ..."
"... Today, we find Lincoln statues desecrated . Neither has the memorial to the 54th Massachusetts Infantry , one of the first all-black units in the Civil War, survived the recent protests unscathed. To many on the left, history seems like the succession of one cruelty by the next. And so, justice may only be served if we scrap the past and start from a blank slate. As a result, Lincoln's appeal that we stand upright and enjoy our liberty gets lost to time. ..."
"... Ironically, this will only help the cause of Robert E. Lee -- and the modern corporations who rely on cheap, inhumane labor to keep themselves going. ..."
"... Before black slaves did this work, white indentured servants had. (An indentured servant is bound for a number of years to his master, i.e. he can't pack up and leave to find a new opportunity elsewhere.) ..."
"... But in the eyes of the Southern slavocracy, the white laboring poor of the North also weren't truly human. Such unholy antebellum figures as the social theorist George Fitzhugh or South Carolina Senator James Henry Hammond urged that the condition of slavery be expanded to include poor whites, too. Their hunger for a cheap, subservient labor source did not stop at black people, after all. ..."
"... Always remember Barbara Fields's formula: The need for cheap labor comes first; ideologies like white supremacy only give this bleak reality a spiritual gloss. ..."
"... Michael Lind argues in his new book The New Class War that many powerful businesses in America today continue to rely on the work of quasi indentured servants. Hungry for unfree, cheap workers, corporations in Silicon Valley and beyond employ tens of thousands of foreign workers through the H-2B visa program. These workers are bound to the company that provided them with the visa. If they find conditions at their jobs unbearable, they can't switch employers -- they would get deported first. In turn, this source of cheap labor effectively underbids American workers who could do the same job, except that they would ask for higher pay. ..."
"... We're getting turned into rats. Naturally, this is no fertile soil for solidarity. And with so many jobs precarious and subcontracted out on a temporary basis, there is preciously little that most workers can do to fight back this insidious managerial control. Free labor looks different. ..."
"... It's hard to come out of the 2020 primaries without realizing that the corporations that run our mainstream media will do anything to protect their right to abuse cheap labor. ..."
"... At this point in history, to the extent that black people suffer any meaningful oppression at all, its down to disproportionate poverty rates, not their racial background. ..."
"... I agree one hundred percent with your take on Biden. Let me add something else: he is a war hawk who not only voted for the Iraq war but used his position as the chairman of an important committee to promote it. ..."
"... Because of slavery alot of bad political policy was incorporated in the founding documents. If a police officer is about to wrongly arrest you because you are black , you do not care if his hatred stems from 400 years of discrimination against blacks. Rather you care that he won't kill you in this encounter because of his racism. ..."
"... Baszak believes racism has no life of its own, it exists only as a tool of the bosses. This is vulgar Marxism. At least since the decades after Bacon's Rebellion ended in 1677, poor whites have invested in white supremacy as a way of boosting their social status. Most Southern families owned no slaves, yet most joined the Civil War cause. ..."
"... They made a movie that beautifully touches this in the 1970s with Harvey Keitel and Richard Pryor called " Blue Collar ." ..."
"... "That's exactly what the company wants: to keep you on their line," says Smokey, the coolest and most strategically minded of the crew. "They'll do anything to keep you on their line. They pit the lifers against the new boys, the old against the young, the black against the white -- everybody -- to keep us in our place." ..."
"... The core thesis in this piece is the animating foundation of The Hill's political talk show "Rising." Composed of a populist Bernie supporter (Krystal Ball) and populist conservative (Saagar Enjeti) as hosts, they frequently highlight the purpose of woke cultural battles is to distract everyone for their neoliberal economic models ..."
Jun 16, 2020 | www.theamericanconservative.com

Anti-racism as an ideology serves a perfect function for corporations that ultimately take workers for granted.

Former injured Amazon employees join labor organizers and community activists to demonstrate and hold a press conference outside of an Amazon Go store to express concerns about what they claim is the company's "alarming injury rate" among warehouse workers on December 10, 2019 in Chicago, Illinois. (Photo by Scott Olson/Getty Images)

On April 2, 1865, in the dying days of the American Civil War, President Abraham Lincoln wandered the streets of burnt out Richmond, the former Confederate capital. All of a sudden, Lincoln found himself surrounded by scores of emancipated men and women. Here's how the historian James McPherson describes the moving episode in his magisterial book Battle Cry of Freedom :

Several freed slaves touched Lincoln to make sure he was real. "I know I am free," shouted an old woman, "for I have seen Father Abraham and felt him." Overwhelmed by rare emotions, Lincoln said to one black man who fell on his knees in front of him: "Don't kneel to me. That is not right. You must kneel to God only, and thank Him for the liberty you will enjoy hereafter."

Lincoln's legacy as the Great Emancipator has survived the century and a half since then largely intact. But there have been cracks in this image, mostly caused by questioning academics who decried him as an overt white supremacist. This view eventually entered the mainstream when Nikole Hannah-Jones wrote misleadingly in her lead essay to the "1619 Project" that Lincoln "opposed black equality."

Today, we find Lincoln statues desecrated . Neither has the memorial to the 54th Massachusetts Infantry , one of the first all-black units in the Civil War, survived the recent protests unscathed. To many on the left, history seems like the succession of one cruelty by the next. And so, justice may only be served if we scrap the past and start from a blank slate. As a result, Lincoln's appeal that we stand upright and enjoy our liberty gets lost to time.

Ironically, this will only help the cause of Robert E. Lee -- and the modern corporations who rely on cheap, inhumane labor to keep themselves going.

***

The main idea driving the "1619 Project" and so much of recent scholarship is that the United States of America originated in slavery and white supremacy. These were its true founding ideals. Racism, Hannah-Jones writes, is in our DNA.

Such arguments don't make any sense, as the historian Barbara Fields clairvoyantly argued in a groundbreaking essay from 1990. Why would Virginia planters in the 17th century import black people purely out of hate? No, Fields countered, the planters were driven by a real need for dependable workers who would toil on their cotton, rice, and tobacco fields for little to no pay. Before black slaves did this work, white indentured servants had. (An indentured servant is bound for a number of years to his master, i.e. he can't pack up and leave to find a new opportunity elsewhere.)

After 1776 everything changed. Suddenly the new republic claimed that "all men are created equal" -- and yet there were millions of slaves who still couldn't enjoy this equality. Racism helped to square our founding ideals with the brute reality of continued chattel slavery: Black people simply weren't men.

But in the eyes of the Southern slavocracy, the white laboring poor of the North also weren't truly human. Such unholy antebellum figures as the social theorist George Fitzhugh or South Carolina Senator James Henry Hammond urged that the condition of slavery be expanded to include poor whites, too. Their hunger for a cheap, subservient labor source did not stop at black people, after all.

Always remember Barbara Fields's formula: The need for cheap labor comes first; ideologies like white supremacy only give this bleak reality a spiritual gloss.

The true cause of the Civil War -- and it bears constant repeating for all the doubters -- was whether slavery would expand its reach or whether "free labor" would reign supreme. The latter was the dominant ideology of the North: Free laborers are independent, self-reliant, and eventually achieve economic security and independence by the sweat of their brow. It's the American Dream. But if that is so, then the Civil War ended in a tie -- and its underlying conflict was never really settled.

***

Michael Lind argues in his new book The New Class War that many powerful businesses in America today continue to rely on the work of quasi indentured servants. Hungry for unfree, cheap workers, corporations in Silicon Valley and beyond employ tens of thousands of foreign workers through the H-2B visa program. These workers are bound to the company that provided them with the visa. If they find conditions at their jobs unbearable, they can't switch employers -- they would get deported first. In turn, this source of cheap labor effectively underbids American workers who could do the same job, except that they would ask for higher pay.

America's wealth rests on this mutual competition between workers -- some nominally "free," others basically indentured -- whether it be through unjust visa schemes or other unfair managerial practices.

Remember that the next time you read a public announcement by the Amazons of this world that they remain committed to "black lives matter" and similar identitarian causes.

Fortunately, very few Americans hold the same racial resentments in their hearts as their ancestors did even just half a century ago. Rarely did we agree as much than when the nation near unanimously condemned the death of George Floyd at the hands of a few Minneapolis police officers. This is in keeping with another fortunate trend: Over the last 40 years, the rate of police killings of young black men declined by 79% percent .

But anti-racism as an ideology serves a perfect function for our corporations, even despite the evidence that people in this country have grown much less bigotted than they once were: As a management tool, anti-racism sows constant suspicion among workers who are encouraged to detect white supremacist sentiments in everything that their fellow workers say or do.

We're getting turned into rats. Naturally, this is no fertile soil for solidarity. And with so many jobs precarious and subcontracted out on a temporary basis, there is preciously little that most workers can do to fight back this insidious managerial control. Free labor looks different.

And so, through a surprising back door, the true cause for which Robert E. Lee chose to betray his country might still be coming out on top, whether we remove his statues or not -- namely, the steady supply to our ruling corporations of unfree workers willing to hustle for scraps.

It's time to follow Abraham Lincoln's urging and get off our knees again. We should assert our rights as American citizens to live free from economic insecurity and mutual resentment. The vast majority of us harbor no white supremacist views, period. Instead, we have so many more things in common, and we know it.

Another anecdote from the last days of the Civil War, also taken from Battle Cry of Freedom, might prove instructive here: The surrender of Lee's Army of Northern Virginia to Ulysses S. Grant at Appomattox Court House on April 9, 1865 essentially ended the Civil War. The ceremony was held with solemn respect for Lee, though one of Grant's adjutants couldn't help himself but have a subtle dig at Lee's expense:

After signing the papers, Grant introduced Lee to his staff. As he shook hands with Grant's military secretary Ely Parker, a Seneca Indian, Lee stared a moment at Parker's dark features and said, "I am glad to see one real American here." Parker responded, "We are all Americans."

Gregor Baszak is a PhD Candidate in English at the University of Illinois at Chicago and a writer. His articles have appeared in Los Angeles Review of Books, Public Books, Spectator USA, Spiked, and elsewhere. Follow Gregor on Twitter at @gregorbas1.


Megan S 15 hours ago

It's a bit off-topic but this is a big reason I supported Bernie Sanders in the Democratic Primary this year, he was the only candidate talking about how businesses demand that cheap labor, illegal labor, replace American labor. For this, the corporate media called him a racist, an anti-semite, a dangerous radical. None of his opponents aside from Elizabeth Warren had anything to run on aside from pseudo-woke touchy-feely bs. And somehow, with the media insisting that Joe Biden was the only one who could beat Trump, we ended up with the one candidate who was neither good on economics, good for American workers, or offering platitudes about wokeness.

It's hard to come out of the 2020 primaries without realizing that the corporations that run our mainstream media will do anything to protect their right to abuse cheap labor.

JonF311 Victor_the_thinker 8 hours ago

Racism is very real. If it weren't it couldn't be used to "divide and conquer" the working calss. we can walk and chew gum and the same time: oppose racism, and also oppose exploitive labor practices.

Bureaucrat Victor_the_thinker an hour ago • edited

What kind of polemic, unsupported statement is "black fast food workers are the ones who gave us the fight for $15"? How about it was a broad coalition of progressives (of all colors)? Moreover, $15 minimum wage is a poor, one-size-fits-all band-aid that I doubt even fits ONE scenario. Tackling the broader shareholder capitalism model of labor arbitrage (free trade/mass immigration), deunionization, and monopolistic hurdles drafted by corporations is where it actually matters. And on that, we are seeing the inklings of a populist left-right coalition -- if corporate-funded race hustlers could only get out of the way.

Bureaucrat JonF311 2 hours ago • edited

That's the problem. We CAN'T chew gum and walk at the same time. Every minute focusing on racial friction is a minute NOT talking about neoliberal economics. What's the ratio of air time, social media discussion, or newspaper inches are devoted to race vis-a-vis the economic system that has starved the working class -- which is disproportionately black and brown? 10 to 1? 100 to 1? 1000 to 1? If there are no decent working class jobs for young black and brown men, then it makes it nearly impossible to raise families. Let's be clear: Systemic racism is real, but it is far less impactful than economic injustices and family dissolution.

Selvar Victor_the_thinker 33 minutes ago • edited

Class really isn't the primary issue for black people.

That's a frankly ridiculous statement. At this point in history, to the extent that black people suffer any meaningful oppression at all, its down to disproportionate poverty rates, not their racial background. No one--except a few neurotic, high-strung corporate HR PMC types--cares about "microaggressions". Even unjust police shootings of blacks are likely down to class and not race--despite the politically correct narrative saying otherwise.

Putting racial identity politics as an equal (or even greater) priority than class-based solidarity creates an absurd system where an upper-middle class black woman attending Yale can act as if a working class white man is oppressing her by not acknowledging his "white privilege", and not bowing to her every demand. It's utterly delusional to think that sort of culture is going to create a more just or equal world.

joeo Megan S 9 hours ago shiva

Biden is a Rorschach test, people see whatever they want in a party apparatchik. Trump has been Shiva, the destroyer of the traditional Republican party. How else do you explain the support among Multi-Billionaires for the Democratic party. Truly ironic.

Jessica Ramer Megan S 8 hours ago

I agree one hundred percent with your take on Biden. Let me add something else: he is a war hawk who not only voted for the Iraq war but used his position as the chairman of an important committee to promote it. I understand that he still wants to divide Iraq into three separate countries--a decision for Iraqis to make and not us. If we try to implement that policy, it would doubtless lead to more American deaths--to say nothing of Iraqi deaths.

So not only is he not good for American workers, he is not good for the American soldier who is disproportionately likely not to be from the elite classes but rather from the working and lower-middle class.

The only other Democratic candidate who opposed war-mongering besides Sanders was Tulsi Gabbard. I watched CNN commentary after a debate in which she participated. While the other participants received lots of commentary from CNN talking heads. she got almost nothing. She was featured in a video montage of candidates saying "Trump"; other than that, she was invisible in the post-debate analysis.

Megan S Jessica Ramer 7 hours ago

I don't know how far it travelled outside of Democratic primary voters, but I recall Biden's campaign saying that they were planning to be sort of a placeholder that would pass the torch to the next generation. He's insinuated that he only wants to serve one term and saw jumping into the race as the only way to beat Trump. Not the most exciting platform for the Democrats to run on.

As depressing as this primary was, it's good to see that the rising generation of Democrats was resistant to platitudes and demanded actual policy proposals.

Shame the party elders fell for the same old tricks yet again. I just hope that once there are more of us, we can have a serious policy debate in both major parties about free trade, immigration, inequality. The parties' voters aren't all that far apart on economics, yet neither of us is being given what we want. Whichever party sincerely takes a stand for the American working class stands to dominate American politics for a generation.

kouroi Megan S 5 hours ago

"Shame the party elders fell for the same old tricks yet again."

Oops, they tripped, poor oldies, not good in keeping their balance, eh?!

Bureaucrat Megan S 2 hours ago • edited

The problem with Biden's "placeholder" comments is that he specifically mentioned it for Pete Buttigeig, the McKinsey-trained career opportunist who believes in his bones the same neoliberal economics and interventionist foreign policies as the last generation. Same bad ideas, new woke packaging.

Megan S Bureaucrat 2 hours ago

On the bright side, young people despise Buttigieg and his attempt to cast us all as homophobic didn't really catch on outside of corporate media.

Bureaucrat Megan S an hour ago

Kamala Harris and Susan Rice, both tops on the VP list, will do just fine in place of Buttigieg - he's slated to revive TPP as the new USTR cabinet lead.

kouroi 14 hours ago

And just like that Mr. Baszak has become the second favorite writer here at TAC, after Mr. Larison...

stephen pickard 9 hours ago

Because of slavery alot of bad political policy was incorporated in the founding documents. If a police officer is about to wrongly arrest you because you are black , you do not care if his hatred stems from 400 years of discrimination against blacks. Rather you care that he won't kill you in this encounter because of his racism.

To me, I have always thought that America's original sin was slavery. Its stain can not be completely wiped out.

And I further believe that if Native Americans would have enslaved the newly arrived Europeans, and remained the ruling majority, white people would be discriminated against today.

So the problem is not that white people are inherently evil, or other races are inherently good. It is that because of slavery black people are bad, white people are good.

As a nation we have never been able to wash out the stain completely. Never will. Getting closer to the promised land is the best we are going to do. Probably take another 400 years.

In everyday encounters no one cares how discrimination began, just treat me like you want to be treated. Pretty simple.

Randolph Bourne 2 hours ago

"As a management tool, anti-racism sows constant suspicion among workers who are encouraged to detect white supremacist sentiments in everything that their fellow workers say or do."

The author does not offer one smidgen of proof that any company uses antiracism to divide workers. It might be plausible that it's happened, but Baszak has no data at all.

Over the last 40 years, the rate of police killings of young black men declined by 79% percent.

You think this is an accident? It came about through intense pressure on the police to stop killing Black people -- exactly the sort of racial emphasis the author seems to be decrying. Important to note that the non-fatal mistreatment has remained high.

The need for cheap labor comes first; ideologies like white supremacy only give this bleak reality a spiritual gloss

Baszak believes racism has no life of its own, it exists only as a tool of the bosses. This is vulgar Marxism. At least since the decades after Bacon's Rebellion ended in 1677, poor whites have invested in white supremacy as a way of boosting their social status. Most Southern families owned no slaves, yet most joined the Civil War cause. The psychological draw of racism, its cultural strength, are obviated by Barszak. And I bet Barbara Fields does not consider racism an epiphenomenon of economics.

Bureaucrat 2 hours ago

They made a movie that beautifully touches this in the 1970s with Harvey Keitel and Richard Pryor called "Blue Collar."

"That's exactly what the company wants: to keep you on their line," says Smokey, the coolest and most strategically minded of the crew. "They'll do anything to keep you on their line. They pit the lifers against the new boys, the old against the young, the black against the white -- everybody -- to keep us in our place."

Bureaucrat an hour ago

The core thesis in this piece is the animating foundation of The Hill's political talk show "Rising." Composed of a populist Bernie supporter (Krystal Ball) and populist conservative (Saagar Enjeti) as hosts, they frequently highlight the purpose of woke cultural battles is to distract everyone for their neoliberal economic models -- a system that actually has greater deleterious impact on black communities.

This video is one recent example of what you'll rarely see in mainstream media:

https://www.youtube.com/watch?v=Chq_VxzDsSc

[Jun 16, 2020] "That's why they call it the American Dream, because you have to be asleep to believe it." by George Carlin

Highly recommended!
Notable quotes:
"... Old saying: A Recession is when your neighbor loses their Job. A Depression is when you lose your Job. ..."
"... A lot of mega wealthy people are cheats. They get insider info, they don't pay people and do all they can to provide the least amount of value possible while tricking suckers into buying their crap. Don't even get me started on trust fund brats who come out of the womb thinking they are Warren buffet level genius in business. ..."
"... There's a documentary about Wal-Mart that has the best title ever: The High Cost of Low Cost ..."
"... Globalism killed the American dream. We can buy cheap goods made somewhere else if we have a job here that pays us enough money. ..."
Jun 16, 2020 | www.youtube.com

Dave C , 4 days ago

"That's why they call it the American Dream, because you have to be asleep to believe it." -George Carlin

Robert Schupp , 4 days ago

You can't just move to American cities to pursue opportunity; even the high wages paid in New York are rendered unhelpful because the cost of housing is so high.


Dingo Jones
, 3 days ago

@JOHN GAGLIANO Cost of living is ridiculous too.

Dirtysparkles , 4 days ago

Our country has become the American Nightmare

Jean-Pierre S , 4 days ago

Martin Luther King, Jr. was vilified and ultimately murdered when he was helping organize a Poor People's Campaign. Racial justice means economic justice.

John Sanders , 3 days ago

Old saying: A Recession is when your neighbor loses their Job. A Depression is when you lose your Job.

Adriano de Jesus , 4 days ago

A lot of mega wealthy people are cheats. They get insider info, they don't pay people and do all they can to provide the least amount of value possible while tricking suckers into buying their crap. Don't even get me started on trust fund brats who come out of the womb thinking they are Warren buffet level genius in business.

Ammon Weser , 4 days ago

There's a documentary about Wal-Mart that has the best title ever: The High Cost of Low Cost

crazyman8472 , 4 days ago

Night Owl: "What the hell happened to us? What happened to the American Dream?"

Comedian: "What happened to the American Dream? It came true! You're looking at it."

-- Watchmen

David Tidwell , 4 days ago

Nailed it. As a millennial, I'm sick of being told to just "deal with it" when the cards have always been stacked against me. Am I surviving? Yes. Am I thriving? No.

D dicin , 4 days ago

When the reserve status of the American dollar goes away, then it will become apparent how poor the US really is. You cannot maintain a country without retention of the ability to manufacture the articles you use on a daily basis. The military budget and all the jobs it brings will have to shrink catastrophically.

farber2 , 4 days ago

American trance. The billionaires hypnotized people with this lie.

Michael D , 4 days ago (edited)

...and sometimes you CAN'T afford to move. You can't find a decent job. You certainly can't build a meaningful savings. You can't find an apartment. And if you have kids? That makes it even harder. I've been trying to move for years, but the conditions have to be perfect to do it responsibly. The American Dream died for me once I realized that no matter the choices I made, my four years of college, my years of saving and working hard....I do NOT have upward mobility. For me, the American Dream is dead. I've been finding a new dream. The human dream.

B Sim , 3 days ago

This is a very truncated view. You need to expand your thinking. WHY has the system been so overtly corrupted? It's globalism that has pushed all this economic pressure on the millennials and the middle class. It was the elites, working with corrupt politicians, that rigged the game so the law benefited them.

This is all reversible. History shows that capitalism can be properly regulated in a way that benefits all. The answer to the problem is to bring back those rules, not implement socialism.

Trump has:

The result? before COVID hit the average American worker saw the first inflation adjusted wage increase in over 30 years!

This is why the fake news and hollywood continue to propagandize the masses into hating Trump.

Trump is implementing economic policies good for the people and bad for the elites

Sound Author , 3 days ago

The dream was never alive in the first place. It was always bullshit.

Julia Galaudet , 4 days ago

Maybe it's time for a maximum wage.

Scott Clark , 4 days ago

Private equity strips the country for years! It's the AMERICAN DREAM!!!

Siri Erieott , 4 days ago

A dream for 1%, a nightmare for 99%.

andrew kubiak , 4 days ago

Globalism killed the American dream. We can buy cheap goods made somewhere else if we have a job here that pays us enough money.

[Jun 16, 2020] Krystal Ball: The American dream is dead, good riddance

Highly recommended!
Notable quotes:
"... Debt-free is the new American dream ..."
Jun 12, 2020 | www.youtube.com

Krystal Ball exposes the delusion of the American dream.

About Rising: Rising is a weekday morning show with bipartisan hosts that breaks the mold of morning TV by taking viewers inside the halls of Washington power like never before. The show leans into the day's political cycle with cutting edge analysis from DC insiders who can predict what is going to happen.

It also sets the day's political agenda by breaking exclusive news with a team of scoop-driven reporters and demanding answers during interviews with the country's most important political newsmakers.

Owen Cousino , 4 days ago

Debt-free is the new American dream

poppaDehorn , 4 days ago

Got my degree just as the great recession hit. Couldn't find real work for 3 years, not using my degree... But it was work. now after 8 years, im laid off. I did everything "right". do good in school, go to college, get a job...

I've never been fired in my life. its always, "Your contract is up" "Sorry we cant afford to keep you", "You can make more money collecting! but we'll give a recommendation if you find anything."

Now I'm back where i started... only now I have new house and a family to support... no pressure.

[Jun 16, 2020] Neoliberalism and the USA: Americans are no longer a moral and religious people even though they present the trappings of such

Notable quotes:
"... Highly recommended. America has been transformed into a public relations image - she no longer has substance. She is like a hologram - reach out to touch her and you find there is nothing there - it's all been taken and replaced with an image. ..."
Jun 16, 2020 | www.zerohedge.com

pparalegal , 11 hours ago

John Adams 1798:

While our Country remains untainted with the Principles and manners, which are now producing desolation in so many Parts of the World: while she continues Sincere and incapable of insidious and impious Policy: We shall have the Strongest Reason to rejoice in the local destination assigned Us by Providence.

But should the People of America, once become capable of that deep simulation towards one another and towards foreign nations, which assumes the Language of Justice and moderation while it is practicing Iniquity and Extravagance; and displays in the most captivating manner the charming Pictures of Candour frankness & sincerity while it is rioting in rapine and Insolence: this Country will be the most miserable Habitation in the World.

Because We have no Government armed with Power capable of contending with human Passions unbridled by eletion, morality and Religion. Avarice, Ambition, Revenge or Galantry, would break the strongest Cords of our Constitution as a Whale goes through a Net.

Our Constitution was made only for a moral and religious People. It is wholly inadequate to the government of any other

Victor999 , 11 hours ago

Our Constitution was made only for a moral and religious People. It is wholly inadequate to the government of any other

Key statement. Americans are no longer a moral and religious people even though they present the trappings of such.

katagorikal , 11 hours ago

The Century of the Self - Adam Curtis
https://www.youtube.com/watch?v=eJ3RzGoQC4s

Victor999 , 11 hours ago

Highly recommended. America has been transformed into a public relations image - she no longer has substance. She is like a hologram - reach out to touch her and you find there is nothing there - it's all been taken and replaced with an image.

[Jun 14, 2020] Former MI6 Spy Alastair Crooke- For This To Slip Would Be The 'End Of Empire' -

Jun 14, 2020 | www.zerohedge.com

He observes too, the anticipatory raising of bail money; the preparing of medical teams, ready to treat injuries; and of caches of flammable materials (suitable for torching official vehicles), pre-positioned in places where protests would later occur. All this – with simultaneous protests in more than 380 U.S. cities – in my experience, signals much bigger, silent backstage organization. And behind 'the organisation', the instigators lie, far back: maybe even thousands of miles back; and somewhere out there will be the financier.

However, in the U.S., commentators say they see no leadership; the protests are amorphous. That is not unusual to see no leadership – a 'leadership' appears only if negotiations are sought and planned; otherwise key actors are to be protected from arrest. The most telling sign of a backstage organisation is that on one day, it is 'full on', and the next all is quiet – as if a switch has been pulled. It often has.

Of course, the overwhelming majority of protestors in the U.S. this last week, were – and are – decent sincere Americans, outraged at George Floyd's killing and continuing social and institutional racism. Was this then, an Antifa and anarchist operation, as the White House contends? I doubt it – any more than those Palestinian youth in Beit El constituted anything other than fodder for the front of stage. We simply don't know the backstage. Keep an open mind.

Tom Luongo presciently suggests that should we wish to understand better the context to these recent events – and not be stuck at stage appearances – we need to look to Hong Kong for indicators .

Writing in October 2019, Luongo noted that: "What started as peaceful protests against an extradition law and worry over reunification with China has morphed into an ugly and vicious assault on the city's economic future. [This is] being perpetrated by the so-called "Block Bloc", roving bands of mask-wearing, police-tactic defying vandals attacking randomly around the city to disrupt people going to work ".

An exasperated local man exclaims : "Not only you [i.e. Block Bloc protestors are] harming the people making their living in businesses, companies, shopping malls. You're destroying subway stations. You're destroying our streets. You're destroying our hard-earned reputation as a safe, international business centre. You're destroying our economy". The man cannot explain why there was not a single police officer in sight, for hours, as the rampage continued.

What is going on? Luongo quotes a September Bloomberg interview with HK tycoon, Jimmy Lai, billionaire publisher of the Chinese Communist Party (CCP) scourge, the Apple Daily, and the highly visible interlocutor of official Washington notables, such as Mike Pence, Mike Pompeo and John Bolton. In it, Lai pronounced himself convinced that if protests in HK turned violent, China would have no choice but to send the People's Armed Police units from Shenzen into Hong Kong to put down unrest: "That," Lai said on Bloomberg TV, "will be a repeat of the Tiananmen Square massacre; and that will bring in the whole world against China Hong Kong will be done, and China will be done, too".

In brief, Lai proposes to 'burn' Hong Kong – to 'save' Hong Kong. That is, 'burn it to save it' from the CCP – to keep its residue in the 'Anglo-sphere'.

"Jimmy Lai", Luongo writes, "is telling you what the strategy is here. The goal is to thoroughly undermine China's standing on the world stage and raise that of the U.S. This is economic warfare, it's a hybrid war tactic. And the soldiers are radicalized kids in uniforms bonking old men on the heads with sticks and taunting cops. Sound familiar? Because that's what's going on in places like Portland, Oregon with Antifa And that cause is chaos". (Recall, Luongo wrote this more than six months ago).

Well, here we are today: Steve Bannon, closely allied with what he, himself, terms the U.S.' China super-hawks , and allied with yet another Chinese billionaire financier, Guo Wengui ( a fugitive from the Chinese Authorities, and member at Trump's Mar-a-Lago Club), is pursuing an incandescent campaign of denigration and vitriol against the Chinese Communist Party – intended, like Lai's campaign, to destroy utterly China's global standing.

Here it is again – the tightly-knit band of U.S. and exile super-hawks want to 'burn' down the CCP, to 'save' what? To save the 'Empire Waning' (America), through 'burning' the 'Empire Rising' (China). Bannon (at least, and to his credit), is explicit about the risk: A failure to prevail in this this info-war mounted against the CCP, he says, will end in "kinetic war".

Via The New York Times

So, back to the U.S. protests, and drawing on Luongo's insights from Hong Kong – I wrote last week that Trump sees himself fighting a hidden global 'war' to retain America's present dominance over global money (the dollar) – now America's principal source of external power. For America to lose this struggle to a putative multi-lateral cosmopolitan governance – Trump perceives – would result in the whole, white Anglo-sphere's ejection from control over the global financial system – and its associated political privilege. It would entail control of the global financial and political system slipping away to an amorphous multi-lateral financial governance, operated by an international institution, or some global Central Bank. Since before WW1, control of global financial governance has been in the hands of the Anglo-American nexus running between London and New York. It still does, just about – albeit that today's Wall Street elite is cosmopolitan, rather than Anglo, yet still it is firmly anchored to Washington, via the Fed and the U.S. Treasury. For this to slip would be the 'end of Empire'.

To maintain the status of the dollar, Trump therefore has assiduously devoted himself to disrupting the multi-lateral global order, sensing this danger to the unique privileges conveyed by control of the world's monetary base. His particular concern would be to see a Europe that was umbilically-linked to the financial and technological heavy-weight that is China. This, in itself, effectively would presage a different world financial governance.

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But, is the fear that the threat principally lies with Europe's Soros-style vision justified? There may – just as well – be a fifth-column at home. The billionaires' club of the very rich has long ceased to be culturally 'Anglo'. It has become a borderless, 'self-selecting', governing entity unto itself.

Perhaps an earlier 'end of Époque' metamorphosis shows us how readily an old-established elite can swap horses in order to survive . In the historical Sicilian novel, The Leopard, Prince Salina's nephew tells his uncle that the old order is 'done' , and with it, the family is 'done' too, unless "Unless we ourselves take a hand now, they'll foist a republic on us. If we want things to stay as they are, things will have to change".

It is clear that some billionaire oligarchs – whether American or not – can see the 'writing on the wall': A financial crisis is coming. And so, too, is a social one. A recent survey done by one such member, showed that 55% of American millennials supported the end to the capitalist system. Perhaps the brotherhood of billionaires is thinking that 'unless we ourselves take a hand now, they'll foist socialism on us'. If we want things to stay as they are, things will have to change. The recent disorder in the U.S. will have unnerved them further.

The push towards radical change – towards that global financial, political and ecological governance that threatens dollar hegemony – paradoxically may emerge from within: from within America's own financial elite. 'Burning' the dollar's privileged global status may become seen as the price for things to stay as they are -- and for the elite to be saved. The future of Empire hangs on this issue: Can US dollar hegemony be preserved, or might the financial 'nobility' see that things must change – if they are to stay as they are? That is, the Revolution may come from within -- and not necessarily from abroad.

In recent days, Trump has pivoted to being the President of 'Law and Order' – a shift which he explicitly connected to 1968, when, in response to protests in Minneapolis after the police suffocation last week of George Floyd, Trump tweeted: "When the looting begins, the shooting starts". These were the words used by Governor George Wallace, the segregationist third-party candidate, in the 1968 Presidential election: Republicans launched their "southern strategy" to win over resentful white Democrats after the civil rights revolution.

Trump is determined to prevail – but today is not 1968. Can a Law and Order platform work now? U.S. demography in the south has shifted, and it is not clear that the liberal, urban electorates of America would sign up to a law-and-order platform, which implicitly appeals to white anxieties?

In a sense, President Trump finds himself between a rock and a hard place. If the protests are not quelled, and "the right normal (not) restored" (as per Esper's words), Trump may lose those remaining 'law and order' conservatives. But, were he to lose control and over-react using the military, then it may be Trump who has his own 'Tiananmen Square' – one, which Jimmy Lai (gleefully) predicted in Hong Kong's case would bring in the whole world against China: "Hong Kong will be done, and China will be done, too."

Or, in this instance, Trump might be done, and the U.S. too.

[Jun 14, 2020] Anonymous Berkeley Professor Shreds BLM Injustice Narrative With Damning Facts And Logic

Highly recommended!
A strange mixture of Black nationalism with Black Bolshevism is a very interesting and pretty alarming phenomenon. It proved to be a pretty toxic mix. But it is far from being new. We saw how the Eugène Pottier famous song International lines "We have been naught we shall be all." and "Servile masses arise, arise." unfolded before under Stalinism in Soviet Russia.
We also saw Lysenkoism in Academia before, and it was not a pretty picture. Some Russian/Soviet scientists such as Academician Vavilov paid with their life for the sin of not being politically correct. From this letter it is clear that the some departments already reached the stage tragically close to that situation.
Lysenkoism was "politically correct" (a term invented by Lenin) because it was consistent with the broader Marxist doctrine. Marxists wanted to believe that heredity had a limited role even among humans, and that human characteristics changed by living under socialism would be inherited by subsequent generations of humans. Thus would be created the selfless new Soviet man
"Lysenko was consequently embraced and lionized by the Soviet media propaganda machine. Scientists who promoted Lysenkoism with faked data and destroyed counterevidence were favored with government funding and official recognition and award. Lysenko and his followers and media acolytes responded to critics by impugning their motives, and denouncing them as bourgeois fascists resisting the advance of the new modern Marxism." The Disgraceful Episode Of Lysenkoism Brings Us Global Warming Theory
Notable quotes:
"... In the extended links and resources you provided, I could not find a single instance of substantial counter-argument or alternative narrative to explain the under-representation of black individuals in academia or their over-representation in the criminal justice system. ..."
"... any cogent objections to this thesis have been raised by sober voices, including from within the black community itself, such as Thomas Sowell and Wilfred Reilly. These people are not racists or 'Uncle Toms'. They are intelligent scholars who reject a narrative that strips black people of agency and systematically externalizes the problems of the black community onto outsiders . Their view is entirely absent from the departmental and UCB-wide communiques. ..."
"... The claim that the difficulties that the black community faces are entirely causally explained by exogenous factors in the form of white systemic racism, white supremacy, and other forms of white discrimination remains a problematic hypothesis that should be vigorously challenged by historians ..."
"... Would we characterize criminal justice as a systemically misandrist conspiracy against innocent American men? I hope you see that this type of reasoning is flawed, and requires a significant suspension of our rational faculties. Black people are not incarcerated at higher rates than their involvement in violent crime would predict . This fact has been demonstrated multiple times across multiple jurisdictions in multiple countries. ..."
"... If we claim that the criminal justice system is white-supremacist, why is it that Asian Americans, Indian Americans, and Nigerian Americans are incarcerated at vastly lower rates than white Americans? ..."
"... Increasingly, we are being called upon to comply and subscribe to BLM's problematic view of history , and the department is being presented as unified on the matter. In particular, ethnic minorities are being aggressively marshaled into a single position. Any apparent unity is surely a function of the fact that dissent could almost certainly lead to expulsion or cancellation for those of us in a precarious position , which is no small number. ..."
"... The vast majority of violence visited on the black community is committed by black people . There are virtually no marches for these invisible victims, no public silences, no heartfelt letters from the UC regents, deans, and departmental heads. The message is clear: Black lives only matter when whites take them. Black violence is expected and insoluble, while white violence requires explanation and demands solution. Please look into your hearts and see how monstrously bigoted this formulation truly is. ..."
"... The claim that black intraracial violence is the product of redlining, slavery, and other injustices is a largely historical claim. It is for historians, therefore, to explain why Japanese internment or the massacre of European Jewry hasn't led to equivalent rates of dysfunction and low SES performance among Japanese and Jewish Americans respectively. ..."
"... Arab Americans have been viciously demonized since 9/11, as have Chinese Americans more recently. However, both groups outperform white Americans on nearly all SES indices - as do Nigerian Americans , who incidentally have black skin. It is for historians to point out and discuss these anomalies. However, no real discussion is possible in the current climate at our department . The explanation is provided to us, disagreement with it is racist, and the job of historians is to further explore additional ways in which the explanation is additionally correct. This is a mockery of the historical profession. ..."
"... Donating to BLM today is to indirectly donate to Joe Biden's 2020 campaign. This is grotesque given the fact that the American cities with the worst rates of black-on-black violence and police-on-black violence are overwhelmingly Democrat-run. Minneapolis itself has been entirely in the hands of Democrats for over five decades ; the 'systemic racism' there was built by successive Democrat administrations. ..."
"... The total alliance of major corporations involved in human exploitation with BLM should be a warning flag to us, and yet this damning evidence goes unnoticed, purposefully ignored, or perversely celebrated. We are the useful idiots of the wealthiest classes , carrying water for Jeff Bezos and other actual, real, modern-day slavers. Starbucks, an organisation using literal black slaves in its coffee plantation suppliers, is in favor of BLM. Sony, an organisation using cobalt mined by yet more literal black slaves, many of whom are children, is in favor of BLM. And so, apparently, are we. The absence of counter-narrative enables this obscenity. Fiat lux, indeed. ..."
"... MLK would likely be called an Uncle Tom if he spoke on our campus today . We are training leaders who intend, explicitly, to destroy one of the only truly successful ethnically diverse societies in modern history. As the PRC, an ethnonationalist and aggressively racially chauvinist national polity with null immigration and no concept of jus solis increasingly presents itself as the global political alternative to the US, I ask you: Is this wise? Are we really doing the right thing? ..."
Jun 12, 2020 | www.zerohedge.com

Dear profs X, Y, Z

I am one of your colleagues at the University of California, Berkeley. I have met you both personally but do not know you closely, and am contacting you anonymously, with apologies. I am worried that writing this email publicly might lead to me losing my job, and likely all future jobs in my field.

In your recent departmental emails you mentioned our pledge to diversity, but I am increasingly alarmed by the absence of diversity of opinion on the topic of the recent protests and our community response to them.

In the extended links and resources you provided, I could not find a single instance of substantial counter-argument or alternative narrative to explain the under-representation of black individuals in academia or their over-representation in the criminal justice system. The explanation provided in your documentation, to the near exclusion of all others, is univariate: the problems of the black community are caused by whites, or, when whites are not physically present, by the infiltration of white supremacy and white systemic racism into American brains, souls, and institutions.

Many cogent objections to this thesis have been raised by sober voices, including from within the black community itself, such as Thomas Sowell and Wilfred Reilly. These people are not racists or 'Uncle Toms'. They are intelligent scholars who reject a narrative that strips black people of agency and systematically externalizes the problems of the black community onto outsiders . Their view is entirely absent from the departmental and UCB-wide communiques.

The claim that the difficulties that the black community faces are entirely causally explained by exogenous factors in the form of white systemic racism, white supremacy, and other forms of white discrimination remains a problematic hypothesis that should be vigorously challenged by historians . Instead, it is being treated as an axiomatic and actionable truth without serious consideration of its profound flaws, or its worrying implication of total black impotence. This hypothesis is transforming our institution and our culture, without any space for dissent outside of a tightly policed, narrow discourse.

A counternarrative exists. If you have time, please consider examining some of the documents I attach at the end of this email. Overwhelmingly, the reasoning provided by BLM and allies is either primarily anecdotal (as in the case with the bulk of Ta-Nehisi Coates' undeniably moving article) or it is transparently motivated. As an example of the latter problem, consider the proportion of black incarcerated Americans. This proportion is often used to characterize the criminal justice system as anti-black. However, if we use the precise same methodology, we would have to conclude that the criminal justice system is even more anti-male than it is anti-black .

Would we characterize criminal justice as a systemically misandrist conspiracy against innocent American men? I hope you see that this type of reasoning is flawed, and requires a significant suspension of our rational faculties. Black people are not incarcerated at higher rates than their involvement in violent crime would predict . This fact has been demonstrated multiple times across multiple jurisdictions in multiple countries.

And yet, I see my department uncritically reproducing a narrative that diminishes black agency in favor of a white-centric explanation that appeals to the department's apparent desire to shoulder the 'white man's burden' and to promote a narrative of white guilt .

If we claim that the criminal justice system is white-supremacist, why is it that Asian Americans, Indian Americans, and Nigerian Americans are incarcerated at vastly lower rates than white Americans? This is a funny sort of white supremacy. Even Jewish Americans are incarcerated less than gentile whites. I think it's fair to say that your average white supremacist disapproves of Jews. And yet, these alleged white supremacists incarcerate gentiles at vastly higher rates than Jews. None of this is addressed in your literature. None of this is explained, beyond hand-waving and ad hominems. "Those are racist dogwhistles". "The model minority myth is white supremacist". "Only fascists talk about black-on-black crime", ad nauseam.

These types of statements do not amount to counterarguments: they are simply arbitrary offensive classifications, intended to silence and oppress discourse . Any serious historian will recognize these for the silencing orthodoxy tactics they are , common to suppressive regimes, doctrines, and religions throughout time and space. They are intended to crush real diversity and permanently exile the culture of robust criticism from our department.

Increasingly, we are being called upon to comply and subscribe to BLM's problematic view of history , and the department is being presented as unified on the matter. In particular, ethnic minorities are being aggressively marshaled into a single position. Any apparent unity is surely a function of the fact that dissent could almost certainly lead to expulsion or cancellation for those of us in a precarious position , which is no small number.

I personally don't dare speak out against the BLM narrative , and with this barrage of alleged unity being mass-produced by the administration, tenured professoriat, the UC administration, corporate America, and the media, the punishment for dissent is a clear danger at a time of widespread economic vulnerability. I am certain that if my name were attached to this email, I would lose my job and all future jobs, even though I believe in and can justify every word I type.

The vast majority of violence visited on the black community is committed by black people . There are virtually no marches for these invisible victims, no public silences, no heartfelt letters from the UC regents, deans, and departmental heads. The message is clear: Black lives only matter when whites take them. Black violence is expected and insoluble, while white violence requires explanation and demands solution. Please look into your hearts and see how monstrously bigoted this formulation truly is.

No discussion is permitted for nonblack victims of black violence, who proportionally outnumber black victims of nonblack violence. This is especially bitter in the Bay Area, where Asian victimization by black assailants has reached epidemic proportions, to the point that the SF police chief has advised Asians to stop hanging good-luck charms on their doors, as this attracts the attention of (overwhelmingly black) home invaders . Home invaders like George Floyd . For this actual, lived, physically experienced reality of violence in the USA, there are no marches, no tearful emails from departmental heads, no support from McDonald's and Wal-Mart. For the History department, our silence is not a mere abrogation of our duty to shed light on the truth: it is a rejection of it.

The claim that black intraracial violence is the product of redlining, slavery, and other injustices is a largely historical claim. It is for historians, therefore, to explain why Japanese internment or the massacre of European Jewry hasn't led to equivalent rates of dysfunction and low SES performance among Japanese and Jewish Americans respectively.

Arab Americans have been viciously demonized since 9/11, as have Chinese Americans more recently. However, both groups outperform white Americans on nearly all SES indices - as do Nigerian Americans , who incidentally have black skin. It is for historians to point out and discuss these anomalies. However, no real discussion is possible in the current climate at our department . The explanation is provided to us, disagreement with it is racist, and the job of historians is to further explore additional ways in which the explanation is additionally correct. This is a mockery of the historical profession.

Most troublingly, our department appears to have been entirely captured by the interests of the Democratic National Convention, and the Democratic Party more broadly. To explain what I mean, consider what happens if you choose to donate to Black Lives Matter, an organization UCB History has explicitly promoted in its recent mailers. All donations to the official BLM website are immediately redirected to ActBlue Charities , an organization primarily concerned with bankrolling election campaigns for Democrat candidates. Donating to BLM today is to indirectly donate to Joe Biden's 2020 campaign. This is grotesque given the fact that the American cities with the worst rates of black-on-black violence and police-on-black violence are overwhelmingly Democrat-run. Minneapolis itself has been entirely in the hands of Democrats for over five decades ; the 'systemic racism' there was built by successive Democrat administrations.

The patronizing and condescending attitudes of Democrat leaders towards the black community, exemplified by nearly every Biden statement on the black race, all but guarantee a perpetual state of misery, resentment, poverty, and the attendant grievance politics which are simultaneously annihilating American political discourse and black lives. And yet, donating to BLM is bankrolling the election campaigns of men like Mayor Frey, who saw their cities devolve into violence . This is a grotesque capture of a good-faith movement for necessary police reform, and of our department, by a political party. Even worse, there are virtually no avenues for dissent in academic circles . I refuse to serve the Party, and so should you.

The total alliance of major corporations involved in human exploitation with BLM should be a warning flag to us, and yet this damning evidence goes unnoticed, purposefully ignored, or perversely celebrated. We are the useful idiots of the wealthiest classes , carrying water for Jeff Bezos and other actual, real, modern-day slavers. Starbucks, an organisation using literal black slaves in its coffee plantation suppliers, is in favor of BLM. Sony, an organisation using cobalt mined by yet more literal black slaves, many of whom are children, is in favor of BLM. And so, apparently, are we. The absence of counter-narrative enables this obscenity. Fiat lux, indeed.

There also exists a large constituency of what can only be called 'race hustlers': hucksters of all colors who benefit from stoking the fires of racial conflict to secure administrative jobs, charity management positions, academic jobs and advancement, or personal political entrepreneurship.

Given the direction our history department appears to be taking far from any commitment to truth , we can regard ourselves as a formative training institution for this brand of snake-oil salespeople. Their activities are corrosive, demolishing any hope at harmonious racial coexistence in our nation and colonizing our political and institutional life. Many of their voices are unironically segregationist.

MLK would likely be called an Uncle Tom if he spoke on our campus today . We are training leaders who intend, explicitly, to destroy one of the only truly successful ethnically diverse societies in modern history. As the PRC, an ethnonationalist and aggressively racially chauvinist national polity with null immigration and no concept of jus solis increasingly presents itself as the global political alternative to the US, I ask you: Is this wise? Are we really doing the right thing?

As a final point, our university and department has made multiple statements celebrating and eulogizing George Floyd. Floyd was a multiple felon who once held a pregnant black woman at gunpoint. He broke into her home with a gang of men and pointed a gun at her pregnant stomach. He terrorized the women in his community. He sired and abandoned multiple children , playing no part in their support or upbringing, failing one of the most basic tests of decency for a human being. He was a drug-addict and sometime drug-dealer, a swindler who preyed upon his honest and hard-working neighbors .

And yet, the regents of UC and the historians of the UCB History department are celebrating this violent criminal, elevating his name to virtual sainthood . A man who hurt women. A man who hurt black women. With the full collaboration of the UCB history department, corporate America, most mainstream media outlets, and some of the wealthiest and most privileged opinion-shaping elites of the USA, he has become a culture hero, buried in a golden casket, his (recognized) family showered with gifts and praise . Americans are being socially pressured into kneeling for this violent, abusive misogynist . A generation of black men are being coerced into identifying with George Floyd, the absolute worst specimen of our race and species.

I'm ashamed of my department. I would say that I'm ashamed of both of you, but perhaps you agree with me, and are simply afraid, as I am, of the backlash of speaking the truth. It's hard to know what kneeling means, when you have to kneel to keep your job.

It shouldn't affect the strength of my argument above, but for the record, I write as a person of color . My family have been personally victimized by men like Floyd. We are aware of the condescending depredations of the Democrat party against our race. The humiliating assumption that we are too stupid to do STEM , that we need special help and lower requirements to get ahead in life, is richly familiar to us. I sometimes wonder if it wouldn't be easier to deal with open fascists, who at least would be straightforward in calling me a subhuman, and who are unlikely to share my race.

The ever-present soft bigotry of low expectations and the permanent claim that the solutions to the plight of my people rest exclusively on the goodwill of whites rather than on our own hard work is psychologically devastating . No other group in America is systematically demoralized in this way by its alleged allies. A whole generation of black children are being taught that only by begging and weeping and screaming will they get handouts from guilt-ridden whites.

No message will more surely devastate their futures, especially if whites run out of guilt, or indeed if America runs out of whites. If this had been done to Japanese Americans, or Jewish Americans, or Chinese Americans, then Chinatown and Japantown would surely be no different to the roughest parts of Baltimore and East St. Louis today. The History department of UCB is now an integral institutional promulgator of a destructive and denigrating fallacy about the black race.

I hope you appreciate the frustration behind this message. I do not support BLM. I do not support the Democrat grievance agenda and the Party's uncontested capture of our department. I do not support the Party co-opting my race, as Biden recently did in his disturbing interview, claiming that voting Democrat and being black are isomorphic. I condemn the manner of George Floyd's death and join you in calling for greater police accountability and police reform. However, I will not pretend that George Floyd was anything other than a violent misogynist, a brutal man who met a predictably brutal end .

I also want to protect the practice of history. Cleo is no grovelling handmaiden to politicians and corporations. Like us, she is free. play_arrow

LEEPERMAX , 12 seconds ago

Donations to Black Lives Matter are funneled through a Democratic fundraising group ...

seryanhoj , 36 seconds ago

This guy is not playing by the rules of US political discourse. His sins are:

1). Using real facts

2). Making logical deductions from the facts

3) Making assertions not in line with the script from his party, social group or race.

There is no future for such a man. We are in a time which prefers hysteria , lies and epic partisanship

simpson seers , 36 minutes ago

white muricans aren't racist, they kill equally....

https://www.fort-russ.com/2020/01/u-s-regime-has-killed-20-30-million-people-since-world-war-ii/

https://www.fort-russ.com/2020/02/former-american-drone-operator-us-military-worse-than-nazis/

Aubiekong , 36 minutes ago

Blacks will always be poor and fucked in life when 75% of black infants are born to single most likely welfare dependent mothers... And the more amount of welfare monies spent to combat poverty the worse this problem will grow...

taketheredpill , 37 minutes ago

Anonymous....

1) Is he really a Professor at Berkeley?

2) Is he really a Professor anywhere?

3) Is he really Black?

4) Is he really a He?

LEEPERMAX , 44 minutes ago

BLM is an international organization. They solicit tax free charitable donations via ActBlue. ActBlue then funnels billions of dollars to DNC campaigns. This is a violation of campaign finance law and allows foreign influence in American elections.

CRM114 , 44 minutes ago

I've pointed this out before:

In 2015, after the Freddie Gray death Officers were hung out to dry by the Mayor of Baltimore (yes, her, the Chair of the DNC in 2016), active policing in Baltimore basically stopped. They just count the bodies now. The clearance rate for homicides has dropped to, well, we don't know because the Police refuse to say, but it appears to be under 15%. The homicide rate jumped 50% almost immediately and has stayed there. 95% of homicides are black on black.

The Baltimore Sun keeps excellent records, so you can check this all for yourself.

Looking at killings by cops; if we take the worst case and exclude all the ones where the victim was armed and independent witnesses state fired first, and assume all the others were cop murders, then there's about 1 cop murder every 3 years, which means that since has now stopped and the homicide rate's gone up...

For every black man now not murdered by a cop, 400 more black men are murdered by other black men.

taketheredpill , 46 minutes ago

"As an example of the latter problem, consider the proportion of black incarcerated Americans. This proportion is often used to characterize the criminal justice system as anti-black. However, if we use the precise same methodology, we would have to conclude that the criminal justice system is even more anti-male than it is anti-black ."

It is the RATIO of UNARMED BLACK MALES KILLED to UNARMED WHITE MALES KILLED in RELATION TO % OF POPULATION. RATIO.

RATIO. UNARMED.

BLACK % POPULATION 13% BLACK % UNARMED MEN KILLED 37%

WHITE % POPULATION 74% BLACK % UNARMED MEN KILLED 45%

Is there a trend of MORE Black people being killed by police?

No. But there is an underlying difference in the numbers that is bad.

>>>>> As of 2018, Unarmed Blacks made up 36% of all people UNARMED killed by police. But black people make up 13% of the (unarmed) population.

UNARMED KILLINGS BY POLICE

UNARMED KILLINGS BY POLICE

YEAR Black Hispanic White

2015 36 19 31

2016 18 9 20

2017 19 12 24

2018(Apr) 7 1 10

2019 15 11 25

YEAR Black Hispanic White

2015 42% 22% 36%

2016 38% 19% 43%

2017 35% 22% 44%

2018(Apr) 39% 6% 56%

2019 29% 22% 49%

AVG 37% 18% 45%

% POPN 13% 16% 72%

ARMED > 18 YRS OLD TOY WEAPON

Black Hispanic White

2019 5 3 11

26% 16% 58%

https://www.washingtonpost.com/investigations/fatal-police-shootings-of-unarmed-people-have-significantly-declined-experts-say/2018/05/03/d5eab374-4349-11e8-8569-26fda6b404c7_story.html

radical-extremist , 47 minutes ago

There's a massive Silent Majority of Americans , including black Americans, that are fed up with this absurd nonsense.

While there's a Vocal Minority of Americans : including Democrats, the media, corporations and race hustlers, that wish to continue to promulgate a FALSE NARRATIVE into perpetuity...because it's a lucrative industry.

Gaius Konstantine , 57 minutes ago

A short while ago I had an ex friend get into it with me about how Europeans (whites), were the most destructive race on the planet, responsible for all the world's evil. I pointed out to him that Genghis Khan, an Asian, slaughtered millions at a time when technology made this a remarkable feat. I reminded him the Japanese gleefully killed millions in China and that the American Indian Empires ran 24/7 human sacrifices with some also practicing cannibalism. His poor libtard brain couldn't handle the fact that evil is a human trait, not restricted to a particular race and we parted (good riddance)

But along with evil, there is accomplishment. Europeans created Empires and pursued science, The Asians also participated in these pursuits and even the Aztec and Inca built marvelous cities and massive states spanning vast stretches of territory. The only race that accomplished little save entering the stone age is the Africans. Are we supposed to give them a participation trophy to make them feel better? Is this feeling of inferiority what is truly behind their constant rage?

Police in the US have been militarized for a long time now and kill many more unarmed whites than they do blacks, where is the outrage? I'm getting the feeling that this isn't really about George, just an excuse to do what savages do.

lwilland1012 , 1 hour ago

"Truth is treason in an empire of lies."

George Orwell

You know that the reason he is anonymous is that Berkley would strip him of his teaching credentials and there would be multiple attempts on his life...

Ignatius , 1 hour ago

" The vast majority of violence visited on the black community is committed by black people . There are virtually no marches for these invisible victims, no public silences, no heartfelt letters from the UC regents, deans, and departmental heads. The message is clear: Black lives only matter when whites take them. Black violence is expected and insoluble, while white violence requires explanation and demands solution. Please look into your hearts and see how monstrously bigoted this formulation truly is."

PhD thesis, right there. ..

Templar X , 1 hour ago

Ex-fed who trained Buffalo cops says shoved activist 'got away lightly'

By Craig McCarthy

June 12, 2020 | 12:31pm

A former fed who trained the police in Buffalo believes the elderly protester who was hospitalized after a cop pushed him to the ground "got away lightly" and "took a dive," according to a report.

The retired FBI agent, Gary DiLaura, told The Sun he thinks there's no chance Buffalo officers will be convicted of assault over the now-viral video showing the longtime peace activist Martin Gugino fall and left bleeding on the ground.

" I can't believe that they didn't deck him. If that would have been a 40-year-old guy going up there, I guarantee you they'd have been all over him, " DiLaura said.

" He absolutely got away lightly. He got a light push and in my humble opinion, he took a dive and the dive backfired because he hit his head. Maybe it'll knock a little bit of sense into him, " added the former fed, who trained Buffalo police on firearms and defensive tactics, according to the report...

https://nypost.com/2020/06/12/ex-fed-who-trained-buffalo-cops-elderly-activist-got-away-lightly/

NanoRap , 17 minutes ago

It's a great brainwashing process, which goes very slow[ly] and is divided [into] four basic stages. The first one [is] demoralization ; it takes from 15-20 years to demoralize a nation. Why that many years? Because this is the minimum number of years which [is required] to educate one generation of students in the country of your enemy, exposed to the ideology of the enemy. In other words, Marxist-Leninist ideology is being pumped into the soft heads of at least three generations of American students, without being challenged, or counter-balanced by the basic values of Americanism (American patriotism).

The result? The result you can see. Most of the people who graduated in the sixties (drop-outs or half-baked intellectuals) are now occupying the positions of power in the government, civil service, business, mass media, [and the] educational system. You are stuck with them. You cannot get rid of them. T hey are contaminated; they are programmed to think and react to certain stimuli in a certain pattern. You cannot change their mind[s], even if you expose them to authentic information, even if you prove that white is white and black is black, you still cannot change the basic perception and the logic of behavior. In other words, these people... the process of demoralization is complete and irreversible. To [rid] society of these people, you need another twenty or fifteen years to educate a new generation of patriotically-minded and common sense people, who would be acting in favor and in the interests of United States society.

Yuri Bezmenov

American Psycho , 16 minutes ago

This article was one of the most articulate and succinct rebuttals to the BLM political power grab. I too have been calling these "allies" useful idiots and I am happy to hear this professor doing the same. Bravo professor!

[Jun 11, 2020] There's a Crisis in US Capitalism but how it will unfold is completely unclear by Richard D. Wolff

Looks like there are some elements of systemic crisis of neoliberalism in the current situation. a revived Cold War (against Russia and China) is a desperate attempt to find a scapegoat and switch attention of population from the subservience of both Party to Wall Street and MIC. To the "Full spectrum Dominance" doctrine which ensure record levels of military spending, sealing money from working class and lower middle class. At the same time top 20% of population still support neoliberalism so the current riots will pass like Occupy Wall Street movement.
Notable quotes:
"... Today's mass unemployment also threatens those still employed, the remaining 120 million members of the U.S. labor force. ..."
"... the predictable results of mass joblessness in the U.S. are deepening social divisions, renewed racism, social protests, and government repression (often violent). ..."
"... By thereby blocking, if only temporarily, a powerful emerging opposition, Democratic Party leaders deterred mass opposition to bailouts, unemployment, minimal COVID-19 testing, and all the government's other failures. They just want to win the November 2020 election. Biden's vague "return to normal" promises are offered as soothing antidotes to the Trump/GOP's crisis-wracked, fear-mongering divisiveness. Trump plunges ahead with a radically pro-capitalist agenda coupled with reactionary cultural and political warfare against civil rights and liberties. ..."
"... Global isolation accompanies the U.S.'s declining economic and political footprints. Its technological supremacy is increasingly challenged globally and especially in and by China. ..."
"... Further China-bashing -- pursued by both major parties -- will only slow global economic growth just when many circumstances converge to make that the least desirable future. Record-breaking levels of government, corporate and household debt make the U.S. economy exceptionally vulnerable to future shocks and cyclical downturns. ..."
"... No "return to normal" after the combined systemic shocks of the COVID-19 pandemic and capitalist depression is likely. ..."
"... Richard D. Wolff, Professor of economics emeritus at the University of Massachusetts, Amherst, and a visiting professor in the Graduate Program in International Affairs of the New School University, in New York. Wolff's weekly show, "Economic Update," is syndicated by more than 100 radio stations and goes to 55 million TV receivers via Free Speech TV. His two recent books with Democracy at Work are Understanding Marxism and Understanding Socialism, both available at democracyatwork.info. This article was produced by Economy for All , a project of the Independent Media Institute. ..."
"... democracy needs an alternative! ..."
"... In a rather simplistic understanding of these issues, I too have often wondered about this endless "growth" goal. How can we have long-term a system, whose inner logic requires constant growth to remain 'viable' – on a planet with finite resources? A collision of the two seems inevitable at some point. Am I missing something? ..."
"... Economic growth and human population growth have been disasters for much of the animal/plant world (insects, large mammals, forests, oceans). ..."
"... Human focused economists seem to ignore this vitally important earth inhabiting non-human constituency in the quest for the, always assumed necessary, headline economic growth. ..."
Jun 10, 2020 | www.nakedcapitalism.com
June 10, 2020 Capitalism has always had business cycles. The capitalist enterprises that produce goods and services are distinctively organized around the conflicted relationship of employer and employees and the competitive relationship of markets. These central relationships of capitalism together generate cyclical instability. Wherever capitalism became a society's economic system over the last three centuries, business cycles recurred every four to seven years. Capitalism has mechanisms to survive its cycles, but they are painful, especially when employers fire employees. Widespread pain (unemployment, bankruptcies, disrupted public finances, etc.) brought the label "crisis" to capitalism's cyclical downturns. Only on special occasions, and rarely, did the cyclical crises in capitalism become crises of capitalism as a system. That has usually required other non-economic problems (political, cultural, and/or natural) to reach crescendo peaks around the same time as a cyclical economic downturn. Today is a time of crisis both in and of U.S. capitalism.

U.S. economic policy now focuses on what is already the worst business cycle downturn since the 1929 crash. As data accumulate, it may well prove to be the worst in global capitalism's entire history. Forty million jobless U.S. workers find incomes lost, savings disappearing and over-indebted family finances worsening.

Today's mass unemployment also threatens those still employed, the remaining 120 million members of the U.S. labor force. Mass unemployment always invites employers to cut wages, benefits and working conditions. If any of their employees quit, many among the millions of unemployed will accept those abandoned jobs. Knowing that, most employees accept their employers' cuts. Employers will justify them as required by "the pandemic" or by what they say are its effects on their profits.

Led by Trump and the Republicans and tolerated by the Democrats' leaders, U.S. employers are intensifying class war against workers. That is what mass joblessness accomplishes. On one hand, Washington bails out employers with trillions of dollars. On the other, Washington enables (by funding) a mass joblessness that directly undermines the entire working class. Germany and France, for example, could not allow such joblessness because of their labor movements' and socialist parties' social influences. In sharp contrast, the predictable results of mass joblessness in the U.S. are deepening social divisions, renewed racism, social protests, and government repression (often violent).

... ... ...

By thereby blocking, if only temporarily, a powerful emerging opposition, Democratic Party leaders deterred mass opposition to bailouts, unemployment, minimal COVID-19 testing, and all the government's other failures. They just want to win the November 2020 election. Biden's vague "return to normal" promises are offered as soothing antidotes to the Trump/GOP's crisis-wracked, fear-mongering divisiveness. Trump plunges ahead with a radically pro-capitalist agenda coupled with reactionary cultural and political warfare against civil rights and liberties.

It is the old GOP strategy but a much more extreme version. The Democrats counter with reactionary responses: a revived Cold War (against Russia and/or China) and a domestic safety less shredded than what the GOP plans. Culture wars are perhaps the only realm where Democrats sense some votes in not caving further to right-wing pressures.

Alternating Democratic and Republican governments produced today's impasse. Global isolation accompanies the U.S.'s declining economic and political footprints. Its technological supremacy is increasingly challenged globally and especially in and by China. Efforts to break that challenge have not succeeded and will not likely do better in the future. Further China-bashing -- pursued by both major parties -- will only slow global economic growth just when many circumstances converge to make that the least desirable future. Record-breaking levels of government, corporate and household debt make the U.S. economy exceptionally vulnerable to future shocks and cyclical downturns.

The U.S. population below 40 years of age struggles increasingly with unsustainable debts. The jobs and incomes it faces have already undermined access to the "American Dream" they were promised as children. Nor have they much hope for the future as today's pandemic-cum-crash imposes more hardships on them. That protests surge, provoked further by government repression, should surprise no one.

Repeated polls where half the young "prefer socialism over capitalism" reflect growing antipathy to their deteriorating capitalist reality. In the Cold War-shaped U.S. school system since the late 1940s, socialism's substantive theories and practices were not seriously taught. Debates among socialists over how socialism was changing or should change remain largely unknown. Today's growing interests in critiques of capitalism and in socialism's varieties reflect young peoples' rejection of Cold War taboos as well as a capitalism that has failed them.

No "return to normal" after the combined systemic shocks of the COVID-19 pandemic and capitalist depression is likely. Many want no such return because they believe that that normal led to both the pandemic and the economic crash. They also believe that the managers of that old normal -- corporate CEOs in both their private and governmental positions -- should face tough public scrutiny and opposition because of where that normal led and where it will likely lead again.

Those managers are not solving the problems they helped to create: utterly inadequate testing for the virus, bigger-than-ever bailouts for the biggest banks and corporations, mass unemployment, and deepening wealth and income inequalities.

Why then keep those managers in power? We should not expect different results from them now than when conditions were "normal."

Of course protests flared up in and around African American communities. Beyond their long history of suffering social and employment discrimination and police oppression, it is important to remember that those communities suffered worst in the Great Recession of 2008-2009. Their unemployment then shot up, they lost homes disproportionately to foreclosures, etc. They have died from the coronavirus significantly more than white communities. Because of disproportionate reliance on low-paid service sector jobs, they have once again suffered disproportionately in 2020's crash of U.S. capitalism. When a president then blatantly panders to white supremacy and white supremacists, while making and repeating racist comments, the ingredients are in place to provoke protests. However useful for Trump/GOP electoral campaigns, social protests and oppressive police responses add sharp social conflicts to the already disastrous combination of viral pandemic and economic crash.

Trump is a product and sign of U.S. capitalism's exhaustion. The long, cozy governmental alternation between GOP and Democrats after the trauma of the 1930s Great Depression had achieved its purpose. It had undone FDR's redistribution of wealth from the top to the middle and the bottom. It had "fixed" that problem by reversing the redistribution of wealth and income. The ideological cover for that "fix" was bipartisan demonization of domestic socialism combined with bipartisan pursuit of Cold War with the USSR. The major GOP vs. Democratic Party dispute concerned the modes and extents of governmental support for private capitalism (as in Keynes vs. Friedman, etc.). That minor squabble got raised to the status of "the major issue" for politicians, journalists, and academics to debate because they caved to the taboo on debates over capitalism vs. socialism.

Capitalism has so extremely redistributed wealth and income to the top 1 percent, so mired the vast majority in overwork and excess debt, and so extinguished "good jobs" (via relocating them abroad and automation) that the system itself draws ever-deeper disaffection, criticism, and opposition. At first, deepening social divisions expressed the system's disintegration. Now open street protests take the U.S. a step closer to a full-on crisis of the system.

Trump subordinated the old managers of capitalism by politically threatening them with aroused, angry small businesses and middle-income workers. Trump promises the latter a return to what they had before the upwards redistribution of wealth hurt them. He tells the old managers that he and his base alone can secure their social positions atop an upwardly redistributed contemporary capitalism. They will save the old managers from Bernie, "progressivism" and "socialism." The Democratic Party's old, "centrist" leadership offers weak, partial opposition, hoping Trump goes too far and implodes the GOP.

In the wake of the pandemic and the massive unemployment used to "manage" it, wages and benefits will take major hits in the months and years ahead. Wealth will be further redistributed upward. Social divisions will deepen and so will social protests. This crisis in capitalism is also a crisis of capitalism.

Richard D. Wolff, Professor of economics emeritus at the University of Massachusetts, Amherst, and a visiting professor in the Graduate Program in International Affairs of the New School University, in New York. Wolff's weekly show, "Economic Update," is syndicated by more than 100 radio stations and goes to 55 million TV receivers via Free Speech TV. His two recent books with Democracy at Work are Understanding Marxism and Understanding Socialism, both available at democracyatwork.info. This article was produced by Economy for All , a project of the Independent Media Institute.


Louis Fyne , June 10, 2020 at 10:28 am

(IMO) things could've been righted in 2009-2010, when US capitalism had two wheels over the precipice and the political will was there for systemic change.

instead the system floored the accelerator and the bus is off the cliff

If only Democrats, Pelosi and Bide were around to do something then! (sarc)

Rolf , June 10, 2020 at 2:22 pm

+2 The good ship America, capsized, can right itself and escape what seems to be inevitable submergence by reversing regressive policies embraced by both political parties since the Reagan "revolution". But both parties also seemed doomed to irrelevance, because both have, as Wolff describes, just played musical chairs over four decades. Little surprise that the only growing political affiliation is "Independent": democracy needs an alternative! Even BEFORE COVID-19, those under 40 could not find sustainable employment, and those over 40 were jettisoned as too expensive to maintain. Meanwhile the mainstream media supply a steady diet of trivia and misinformation, gushing over stock market rebounds or growth in Jeff Bezos' literal mountain of wealth, while a realistic 25% of the work force (including those in the darling "gig" economy) don't have a job or a paycheck, and can't make the rent. Unbelievable. And a disgrace in any country with the means to correct it.

The political response to this virus and the ensuing economic collapse is but one preview to our future: we should study it, and hard. A vaccine may take a few years to put in place, but there is no "vaccine" against profound environmental shifts on the horizon, broadly labeled climate change. A response that avoids enormous human suffering requires planning and transformations on space and time scales unlike anything we have faced heretofore. The bad news: these shifts are already manifest and likely irreversible. The good news: a response will require everyone's labor, creativity, and collaboration. This means planning, cooperation, and work , much of which can't be automated easily. These are political and economic transformations in which we will have no choice, if we are to survive.

John Steinbach , June 10, 2020 at 4:48 pm

Emphasizing that there will be radical reduction in energy/resource use in the near future, either planned or unplanned. The Club of Rome models appear to be still spot on.

ChrisFromGeorgia , June 10, 2020 at 10:32 am

Good article that makes many valid points. One I disagree with though is:

will only slow global economic growth just when many circumstances converge to make that the least desirable future

Why is growth always the goal? Given the looming climate change catastrophe, economic growth is the enemy. We must figure out how to live in a zero-growth (i.e. balanced) economy or we will kill off the human race. A lot of the tensions we see are because it is no longer possible to "grow" the economy in a way that benefits all segments of society. Energy and GDP are related. As we run out of the former the latter must adjust.

Olga , June 10, 2020 at 11:46 am

In a rather simplistic understanding of these issues, I too have often wondered about this endless "growth" goal. How can we have long-term a system, whose inner logic requires constant growth to remain 'viable' – on a planet with finite resources? A collision of the two seems inevitable at some point. Am I missing something?

John Wright , June 10, 2020 at 12:40 pm

You are not missing something.

Economic growth and human population growth have been disasters for much of the animal/plant world (insects, large mammals, forests, oceans).

Human focused economists seem to ignore this vitally important earth inhabiting non-human constituency in the quest for the, always assumed necessary, headline economic growth.

As we follow in the path of our already distressed animal/plant kingdom, achieving a "balanced" economy without a great deal of human distress seems unlikely to this reader .

[Jun 10, 2020] The Left and Wall Street are not going to go after each because at the moment they are allies pursuing a common goal; the dismantling of the traditional nation-state and its replacement by a new transnational system

Jun 10, 2020 | www.unz.com

Alfa158 , says: Show Comment June 10, 2020 at 5:46 am GMT

The Left and Wall Street are not going to go after each because at the moment they are allies pursuing a common goal; the dismantling of the traditional nation-state and its replacement by a new transnational system.
Capital wants it because it wants totally free access to markets and resources, both human and natural. Natural resources and product will flow with no regulation or tariffs. Capital wants to reduce the cost of labor, at every level from manual day laborers to advanced engineers and scientists, by forcing everyone to compete with their counterparts worldwide in a wage race to the bottom. They will do it by shifting business to lower cost areas, and/or mass immigration. Energy and material resources will be plundered without hindrance from any corner of the earth. The deracinated new Brown populations will have no coherence or vision for resistance, instead everyone will be a consumer trying to improve themselves or their tribe against everyone else. Meanwhile the hyper-competent will claw their way to the top of meritocratic aristocracy. The rich don't care if police forces are de-funded. Only the middle class want police. Ancient Rome operated just fine without police. The wealthy had slaves and hired muscle to guard their person and property. The poor used local gangs to provide protection.
The Left wants the end of the nation-state because they think it will allow them to end racism by the simple measure of eliminating race, save the environment by forcing de-industrialization, and end war by ending nations. Oh, and they will be happy to accept the role of wise philosopher-kings administering the brave new world.
Both Capital and the Left think they'll suppress the other and be the ones in charge once the transnational world order is in place.
I think maybe there won't be a final struggle between the winning allies of the Left and Capital because they are merging. Look at how many plutocrats have the same political beliefs as Leftists. Try find an inch of daylight between the stated values of the HR department at a mega-corporation and a modern university.
Neither side gives a rat's ass for the working people.

[Jun 10, 2020] while this is happening, the entire world is undergoing what appears to be a severe Kondratiev Winter, in which malinvestment shows up as failure to repay loans and undesirable trade relations are ended. Attempts to avoid this K Winter appear to be under severe stress

Jun 10, 2020 | www.unz.com

Anonymous [382] Disclaimer , says: Show Comment June 10, 2020 at 8:09 am GMT

1) Black average IQ is about 85. That means half of the Black population can't do anything of economic importance in an industrial economy. Any industrial economy. The Black population therefore regards industrial societies, in which they always lose, as "white supremacy" and "white privilege". Massive interventions have failed; the above situation will persist indefinitely.

2) The above situation is incompatible with contemporary Christian doctrine, which says that all Homo Sapiens are capable of salvation, and therefore deserving of a secular life that permits them to choose whether to accept or reject salvation. This doctrine is also old; it was responsible for much of the propaganda the led up to the American Civil War. It is very difficult to refute from a Christian standpoint, and therefore enjoys the support of many Christians who are an integral part of industrial society (as was New England / New York Hudson Valley during the run-up to the Civil War).

3) "Defund the Police", like decriminalizing shoplifting, de-rationalizing the universities, or for that matter the entire corpus of Civil Rights laws (See: C. Caldwell, _The Age of Entitlement_), have the effect of making industrial society much less sustainable. These steps respectively decrease protection of the life and property of people who have gained from industrial society, increasing the cost of urban retail operations, greatly reducing education for industrial work, and changing laws to make it impossible for industrial operations to avoid torts. "Defund the police" is actually a logical step in a process started long, long ago, and is intended to make industrial society impossible.

4) The reaction against industrial society has resulted in a decrease of the population that actually makes industrial society possible (See: G. Clark, _A Farewell to Alms_, Princeton University, 2007). This population has, historically, been identical to what H. Clinton called "The Deplorables", and are now identical to what C. Caldwell calls "the coalition of those who have not benefitted from civil rights laws". While this population increased considerably during the 1800s, it is now decreasing for reasons that are plausibly related to the reaction against industrial society. Note that many of the Deplorables are Christians who accept the argument for secular equality presented above, paragraph 2, and are thus unwilling to strongly favor maintenance of industrial society.

5) As industrial society declines, urban areas (which lost their economic functions back in the 1950s/1960s) become unable to maintain their infrastructures, both physical and social. Their political forms devolve to simple pillage (e.g. "Calling the police comes from position of privilege", the "privilege" being the ability to hold down a job that pays well, hence being able to own something worth taking). This marks the end of urban dominance in political affairs. Money is the mothers milk of politics, and without it the political infant dies. The urban hinterland says "no" to requests for more money, and the cities wither (Copley, _Uncivilization_)

6) And, while this is happening, the entire world is undergoing what appears to be a severe Kondratiev Winter, in which malinvestment shows up as failure to repay loans and undesirable trade relations are ended. Attempts to avoid this K Winter appear to be under severe stress. The US crisis
is, in somewhat different forms, global.

7) So, here we are. We now have to construct a society that will let us stay alive.
The existing model of industrial civilization – silence the non-participants with make work ("Walk for Cancer Prevention") and goods/services, use industrial productivity to provide these goods/services" – has failed. The non-participants have (with no work and lots of money) become so numerous that they are silenced no longer." To quote a revolutionary leader from a novel protesting the Cold War (J. Blish, _A Case of Conscience_), "Your people, sir, are a great beast". And a great beast can do what it wants; in fact, can't do anything else. The beast says the urban based system of industrial society is over, and, Bingo, that's a performative statement ( ** ) -- once uttered, it's real.
( ** Like the leader of a jury saying "The jury finds the defendant guilty" or a priest saying "I now pronounce you man and wife". The statement is true _because_ the statement was made).
Good luck to you all.

[Jun 08, 2020] The news about the USA collapse staring is probably 12 years old

Jun 08, 2020 | www.unz.com

Hippopotamusdrome , says: Show Comment June 5, 2020 at 9:48 am GMT

The Systemic Collapse of the US Society Has Begun

News is like 50 years too late.

Minority areas in cities were uninhabitable shitholes before, riots don't make them any worse now.

[Jun 08, 2020] Total and final collapses are very rare, mostly they just initiate a lengthy and potentially very dangerous transformation process, the outcome of which is almost impossible to predict.

Jun 08, 2020 | www.unz.com

Dieter Kief , says: Show Comment June 5, 2020 at 1:39 pm GMT

Total and final collapses are very rare, mostly they just initiate a lengthy and potentially very dangerous transformation process, the outcome of which is almost impossible to predict.

You say basically the same thing as Jonathan Haidt did about half a year ago – before CO-19 and before Minneapolis – that the US might at the brink of a civil war. I then thought Jonathan Haidt was a little bit over the top, I have to admit.

Anonymous [849] Disclaimer , says: Show Comment June 5, 2020 at 1:39 pm GMT
This civil unrest and racial strife seems to be confined largely to Anglo countries, I think the UK is the only other country showing real signs of civil unrest like in the US at the moment.

There have been protests in non-Anglo countries, but that seems to be more leftists jumping on the bandwagon than indicative of real domestic problems unlike those that exist in the US and UK.

[Jun 08, 2020] I agree the US is long overdue a collapse not out of glee, but just out of the fact that you can't shit on your own house that much and not expect to find yourself in a cesspit sooner than later

Jun 08, 2020 | www.unz.com

Ilya G Poimandres , says: Show Comment June 5, 2020 at 5:30 am GMT

I do love a Saker article, but it is more what I wish to happen, rather than what is happening.

I agree the US is long overdue a collapse – not out of glee, but just out of the fact that you can't shit on your own house that much and not expect to find yourself in a cesspit sooner than later – but it seems that human tolerance for human excrement is on average higher than my own, or indeed the Saker's, so I will have to wait still.

The firing shot for the true acceleration of the collapse – economic not social, that's been long in the making – will be a run on the US Dollar, and economy. It's already at 130% GDP debt by international standards, whether the mark is 150, 170, before the players herd and run over the cliff

I don't want to guess anymore, but no one is driving away from the cliff, least of all Trump – in all his feisty-cuffs with China over the trade deficit, he ain't never once mentioned the budget deficit. And avoidance is the weakest response to finding yourself on a train track with a train steaming at you!

[Jun 08, 2020] Much of the rest of the world is in the same situation as the US

Jun 08, 2020 | www.unz.com

Anonymous [139] Disclaimer , says: Show Comment June 5, 2020 at 9:52 am GMT

Not a bad article. Much of the rest of the world is in the same situation as the US, so it's going to reorganize itself at about the same time as the US does. Your Russia has already reorganized itself, events may force that again, but I'd hope not. Russia has suffered enough, in my opinion.

Suggested reading:

Caldwell, _The Entitlement Society_ -- effect of Civil Rights legislation on the US. Caldwell suggests that implementing Civil Rights as interpreted by the Judicial Branch is physically impossible and has been a proximate cause of the situation Saker describes.

Copley, _Uncivilization_ -- The US situation of megacities destroying their hinterlands is not limited to the US, but is worldwide. Copley considers this a strategic weakness should there be a central war, but the current situation suggests that the weakness may make cities unable to get resources needed for urban survival even without a central war.

Martin von Creveld, "The Fate of the State', _Parameters_, 1996 (search Google Scholar for original article). Shows that decline is not limited to the West, but is a retreat of civilization worldwide, both in terms of a reduction of civilized territory and in terms of governmental control/legitimacy within governmental boundaries. So far, the decline von Creveld described in 1996 has continued unabated. Few predictions in the field of strategic analysis have been as successful.

Levinson, _The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger_, In passing, Levinson recounts how the cities lost their natural monopoly on shipping and manufacturing to container ports and distributed manufacturing.

Harper, _The Fate of Rome: Climate, Disease, and the End of an Empire (The Princeton History of the Ancient World) _. Demonstrates that social failure was not responsible for the fall of Rome, but that physical factors (disease, end of the Roman Climate Optimum was). Club of Rome, _Limits to Growth_, was an early attempt to find physical limiting factors for industrial societies.

[Jun 08, 2020] The Systemic Collapse Of The US Society Has Begun by the Saker

In many way this is just a wishful thinking. Saker's hyperbolic rhetoric is just cheap propaganda and does not help to decifer the issues the USA faces!
Looks like Clinton wing of Dems is willing to burn their own house to get rid of Trump. "If I had to guess, I'd say it's the neoliberal, CIA-Obama faction vs. the Trump-Military faction, (Pompeo et al)" But why? Why Obamagate is picking up steam? Looks Barry CIA Obama is still a player. Is he also a reason we have senile Biden is the candidate for President on the Dem side? Are we seeing the power of a CIA community organizer, color-revolutionary pulling strings across multiple strata of society?
The current riots create pressure of Trump and attempt are made to use them as the third act of anti-Trump revolution but this clearly is nor a civil war. Like other protests before it (Civil rights marches, anti-Vietnam and Iraq wars, Occupy) little to no substantive changes have been introduced insofar as reining in of the war machine, the pursuit of social and economic justice (universal free education and health care, equal employment and housing opportunities, scaling down of the MIC and the Prison Industrial Complex, degrade Israel and Saudi lobbies, etc.
Jun 08, 2020 | www.zerohedge.com
  1. Racism or "White privilege"
  2. Police violence
  3. Social alienation and despair
  4. Poverty
  5. Trump
  6. The liberals pouring fuel on social fires
  7. The infighting of the US elites/deep state

They are not about any of these because they encompass all of these issues, and more.

It is important to always keep in mind the distinction between the concepts of " cause " and "pretext". And while it is true that all the factors listed above are real (at least to some degree, and without looking at the distinction between cause and effect), none of them are the true cause of what we are witnessing. At most, the above are pretexts, triggers if you want, but the real cause of what is taking place today is the systemic collapse of the US society.

The next thing which we must also keep in mind is that evidence of correlation is not evidence of causality . Take, for example, this article from CNN entitled "US black-white inequality in 6 stark charts" which completely conflates the two concepts and which includes the following sentence (stress added) " Those disparities exist because of a long history of policies that excluded and exploited black Americans, said Valerie Wilson, director of the program on race, ethnicity and the economy at the Economic Policy Institute, a left-leaning group. " The word "because" clearly point to a causality, yet absolutely nothing in the article or data support this. The US media is chock-full of such conflations of correlation and causality, yet it is rarely denounced.

For a society, any society, to function a number of factors that make up the social contract need to be present. The exact list that make up these factors will depend on each individual country, but they would typically include some kind of social consensus, the acceptance by most people of the legitimacy of the government and its institutions, often a unifying ideology or, at least, common values, the presence of a stable middle-class, the reasonable hope for a functioning "social life", educational institutions etc. Finally, and cynically, it always helps the ruling elites if they can provide enough circuses (TV) and bread (food) to most citizens. This is even true of so-called authoritarian/totalitarian societies which, contrary to the liberal myth, typically do enjoy the support of a large segment of the population (if only because these regimes are often more capable of providing for the basic needs of society).

Right now, I would argue that the US government has almost completely lost its ability to deliver any of those factors, or act to repair the broken social contract. In fact, what we can observe is the exact opposite: the US society is highly divided, as is the US ruling class (which is even more important). Not only that, but ever since the election of Trump, all the vociferous Trump-haters have been undermining the legitimacy not only of Trump himself, but of the political system which made his election possible. I have been saying that for years: by saying "not my President" the Trump-haters have de-legitimized not only Trump personally, but also de-legitimized the Executive branch as such.

This is an absolutely amazing phenomenon: while for almost four years Trump has been destroying the US Empire externally, Trump-haters spent the same four years destroying the US from the inside! If we look past the (largely fictional) differences between the Republicrats and the Demolicans we can see that they operate like a demolition tag-team of sorts and while they hate each other with a passion, they both contribute to bringing down both the Empire and the United States. For anybody who has studied dialectics this would be very predictable but, alas, dialectics are not taught anymore, hence the stunned "deer in the headlights" look on the faces of most people today.

Finally, it is pretty clear that for all its disclaimers about supporting only the "peaceful protestors" and its condemnation of the "out of town looters", most of the US media (as well as the alt media) is completely unable to give a moral/ethical evaluation of what is taking place. What I mean by this is the following:

  1. obwandiyag says: Show Comment June 4, 2020 at 11:22 pm GMT Cops don't protect nothing but rich people's money. You been watching too much TV.

    And this ain't nothing. Nothing. Not compared to 1967-68.

    But you young people don't know nothing. Especially about history. So, no surprise there.

  1. Si1ver1ock says: Show Comment June 5, 2020 at 3:14 am GMT • 100 Words If I had to guess, I'd say it's the neoliberal, CIA-Obama faction vs the Trump-Military faction, (Pompeo et al)

    This came to a head just as Obama-gate was picking up steam. Obama is still a player. He is the reason we have Biden for President on the Dem side, for example.

    My guess is that you are seeing the power of a CIA community organizer, color-revolutionary, Jedi psyop master, pulling strings across multiple strata of society.

    Trump and Obama don't like each other for some reason.

  1. Just another serf says: Show Comment June 5, 2020 at 4:35 am GMT • 200 Words

    The Systemic Collapse of the US Society Has Begun

    Begun? It's been in process for many decades. It might have begun in the early 20th century. What's new here? Focusing on recent times, jobs disappeared in the 70's. Inflation exploded at the same time. Negro antagonism began in the 60's. Replacement of the white population accelerated in 1965 and continued relentlessly to the current moment.

    We are seeing the looting phase of the business known as the United States of America. Refer to an informative scene from the movie Goodfellas. The criminals got control of a business, looted it into bankruptcy and burned the place down. Except in this case there are no Italians involved. And you know who replaces them in our real life experience.

  1. Espinoza says: Show Comment June 5, 2020 at 6:44 am GMT It's controlled demolition. First unjustified lockdown. Then unjustified race riots. The deep state is intent on destroying Trump.

    If US is divided into mutually hostile territories, guess where the majority will go. That is right. They will go to white dominated areas as they do now to white dominated neighborhoods.

    Can no one stop the deep state?

  1. Brewer says: Show Comment June 5, 2020 at 7:17 am GMT • 100 Words Seen it all before. How short do memories have to be to forget Kent State, Rodney King, the Civil Rights protests of the sixties, Harlem riot of 1964, the Watts riot of 1965 et al ?

    America is and will remain a deeply disturbed society given that their entire philosophy, lifestyle and Politics is based on consumerism. Winners (no matter how unethical) are heroes, losers (no matter how unjustly) are despised.

    America will bump and grind on through bankruptcy, both morally and economically. It is the Judaic way.

    Simple fact is that most Americans are ignorant of History and are therefore condemned to go on repeating the past.

[Jun 05, 2020] We re South Africa now

Notable quotes:
"... Elections are coming up, race-baiting is part of the agenda once more ..."
"... The appalling thing is violence is completely normalized this time around. With the white wokies unapologetically supporting the destruction and looting of especially the black neighborhoods ..."
Jun 05, 2020 | www.unz.com

RoatanBill , says: Show Comment June 4, 2020 at 2:11 pm GMT

@ThreeCranes

I want the US to fracture into smaller units – specifically the states to become new countries.

The reason should be obvious – the Fed Gov is a cancer on the society and the entire world. What I'd like to know is why someone would want a continuation of the Fed Gov given it's track record of wars around the world, and support for the oligarchy / corporatocracy that is looting the country.

T.T , says: Show Comment June 3, 2020 at 7:54 pm GMT
So who is financing the useful idiots? who is meming it?

When the "poor innocent jogger" story got pushed 2 weeks ago it was clear the BLM story narrative was being moved out of the freezer back into the mainstream again. Elections are coming up, race-baiting is part of the agenda once more. But this time around the internet has been taken over by the borg. Bots are everywhere and 4chan is botted heavily. I don't get the feeling it's the shareblue office that message the boards this time around, it feels quite botted and very planned.

The appalling thing is violence is completely normalized this time around. With the white wokies unapologetically supporting the destruction and looting of especially the black neighborhoods. up until the moment, it comes too close. Has the situation escalated more then they expected or is more to come? It seems Trump's threat to involve the military was what they were after afterwards strongly pushing the "trump is a violent authoritarian" narrative, rather ineffectively since trump waited until a large majority wanted this to happen. He does manoeuvre it decently, threatening the mostly local democratic government to intervene so that his hands aren't dirty but theirs. But will they let is escalate further so that they can push the trump is violent narrative again I wonder.

My bet is they will escalate further. There are too many liberals buying guns, or perhaps not enough..

It's amazing how effective American propaganda is. With protests happening in Europe of all places..

dvorak , says: Show Comment June 5, 2020 at 5:29 am GMT
@Beavertales

If given an informed choice, the Silent Majority of Americans would side with young conservatives over young anarchists. The problem is that the other side is ahead in a culture war, and the right is only just getting on its feet to fight it.

You're fifty years late for the Silent Majority. We're South Africa now, plus depopulated rural areas and a smattering of high-tech city-states (Seattle, Austin, etc.).

The 'right' is flat on its back, and will stay there indefinitely. Every conservative or Republican you see on TV, save one or two, is a neoliberal. They aren't even on the right.

[Jun 04, 2020] Neoliberalism WTF: Neoliberal Capitalism from Ronald Reagan to the Gig Economy by Tom Nicholas

Highly recommended!
Notable quotes:
"... Unregulated capitalism is the fastest way to get monopoly's and corruption. Just like big money in governments. ..."
"... The best I've heard it defined loosely is "the idea to extend market practices to more and more human spheres of life" ..."
Sep 12, 2019 | www.youtube.com
Neoliberalism (or neoliberal capitalism) is a term which gets thrown around a lot in cultural and political discourse. Is it often used to describe the policies of Ronald Reagan and Margaret Thatcher in the 1970s and 1980s and the subsequent premierships of Bill Clinton and Tony Blair and the adjective "neoliberal" continues to be used as a derogatory phrase in the ongoing Democratic debates in the US.

Yet it is also used with reference to the "gig economy" and services such as Uber, Deliveroo and Airbnb. Is neoliberalism, then, simply a synonym for capitalism or is there more to it than that? In this "neoliberalism explained" video, I aim to answer just that. In this month's episode of What the Theory, I unpack what we mean when we talk about neoliberalism.

From the early work of economists such as Milton Friedman (author of Capitalism and Freedom), Friedrich von Hayek (author of The Road to Serfdom) and the Mont Pelerin Society, through its implementation by Reagan and Thatcher to its infliction upon countries in the global south as described in The Shock Doctrine by Naomi Klein, I undertake a brief history of free-market capitalism and consider some of its consequences.

Support me on Patreon at http://patreon.com/tomnicholas

Further Reading

[The above are affiliate links. I receive a small kickback from anything you buy which, in turn, helps to support the channel.]

If you've enjoyed this video and would like to see more including my What The Theory? series in which I provide some snappy introductions to key theories in the humanities as well as PhD vlogs in which I talk about some of the challenges of being a PhD student then do consider subscribing.

Thanks for watching! Twitter: @Tom_Nicholas Website: www.tomnicholas.com #neoliberalism #Reagan #gigeconomy


Timothy Lee , 8 months ago

Neoliberalism is human arrogance to the extreme. It speeds up globe disharmony that will ultimately cause the extinction of the species. Mans greed will be it's own end. cheers

Trudox , 8 months ago

So if the welfare state of the post war period was a means of stabilizing labour and capital relations and neoliberalism seeks to destroy that and has its ideological roots in 19th century liberalism, does that mean we're going to witness the mass poverty and precarization of that same period again?

Marco , 8 months ago

Unregulated capitalism is the fastest way to get monopoly's and corruption. Just like big money in governments.

D-Squared , 8 months ago

Your presentation style gives me a slight vibe of "guy talking to a room full of children about how cool bugs are," which I do mean as a complement Anyway yeah good stuff I like it

B. Greene , 8 months ago (edited)

Being someone who is old enough to clearly remember the pre-Reagan/ Thatcher era, I always feel badly for those who have never known life outside of this neoliberal dystopian nightmare that we find ourselves in. Back then people talked a lot about "intrinsic worth"; that a human life, a species, or a special place (natural or historic) has a value far beyond what money could buy, and should therefore be protected.

Fairness was always a consideration; if an employee did a good job and was loyal to the company for a number of years, then the company owners gave them extra paid vacation, a pension, a Christmas bonus, and a gold watch on retirement to show their appreciation.

A 10% profit for the year was considered satisfactory and sustainable, unlike today, where stockholders demand increasing returns at the expense of employees, product quality, etc. If a company sold toxic or dangerous products, or mistreated employees, an expose would be done on 60 minutes and that company would either fold, or pay damages. The well being of citizens and the environment was the first consideration (at least outside of the military industrial complex and fossil fuel companies), and anyone who put profits before all else was viewed as favorably as a KKK grand wizard is today. It's amazing what 38 years of pro-neoliberal Ayn Randian propaganda has done to the world. We'll likely drive ourselves to an early extinction because of it, and knowing this, the Oligarchy searches for new ways to profit from out impending demise. Madness!

Derek Anderson , 8 months ago (edited)

Yes, please do a video on the gig economy. I am also interested to hear your thoughts on neoliberalism's attack on education. New subscriber... love the channel! Look forward to seeing more!

Chameleon Firestorm , 8 months ago

Neoliberalism is explicitly different from Classical Liberalism, which is why they are distinguished by the prefix... Adam Smith's theories for example are completely incompatible with neoliberal theory.

B. Levin , 8 months ago (edited)

Another very interesting video. I do think there is some missing context on: Cold War, Decolonization, Decline of traditional Communism in 1980s, defeat of traditional Communism in 1990's. To be fair, I don't think your narrative would change much or at all with the other context pieces included. It would just provided the "more complete" picture on neoliberalism. Very thoughtful analysis overall. Well done.

Christie Brooks , 8 months ago

I would love videos on the Gig Economy and the implementation of neoliberal ideas across the global south

Ender Wiggin , 8 months ago

Huh, seems like Hayek's group recuperated the leftist language and sentiment of discontent for its right wing purposes in the 70's

Demiurge Shadow , 8 months ago

The best ive heard it defined loosely is "the idea to extend market practices to more and more human spheres of life" As if thats worked well with housing, prisons, and politics...

Andrea Dovizioso , 8 months ago

I was researching on Gramsci and I watched your video only because I couldn't find anything on the more popular channels and wasn't so sure if I wanted to click on it or just let go and read an article on Gramsci or something. Casually scrolled through your content and now watching your latest upload. This is what I've been looking for, for so long. You've got almost everything I'm interested in and I like your way of explaining things. Instantly subscribed. Keep up the good work man!

Moaz Abdelrahman , 8 months ago

I know that what you've drawn upon is quite similar to Heide Gerstenberger's argument on how capitalism changed and came in different guises (2007), but, and forgive me if I'm mistaken, the literary and philosophical background of neoliberalism are nothing but a misunderstanding of liberalism, specifically Adam Smith, as they forget, or neglect, that he was concerned with moral philosophy and his "the invisible hand" was a mere metaphor that he mentioned only once in The Wealth of Nation. I just wanted to add this point as it is important regarding the fallacies of the literature of neoliberalism. I love your channel. My students will have a new video to watch this semester. Good luck and I'm waiting for your gig economy episode. Keep it up bruv!

Jay McDanieL , 8 months ago

If you watched Wall St. & thought Gordon Gecko was the hero of the story. You are a NeoLiberal

[Jun 04, 2020] Neoliberalism carries within its DNS the gene for destruction -- excessive greed

Jun 04, 2020 | www.moonofalabama.org

Lohmann , Jun 3 2020 21:26 utc | 45

Adam Smith, that Prime Mover of Capitalism, knew what he was talking about. After all, if you're going to create a religion based on greed (for, ultimately, economics is nothing more than a religion ), you probably have a keen and subtle awareness of the psychology of greed. Here, in the conclusion of Book One Chapter 11 of Adam Smith's sacred text The Wealth of Nations he reveals the extent to which he understood that an economic system based upon greed must seek ways to prevent the greedy (ie: business) from assuming the reins of political power [em. mine]:
The plans and projects of the employers of stock regulate and direct all the most important operations of labour, and profit is the end proposed by all those plans and projects. But the rate of profit does not, like rent and wages, rise with the prosperity and fall with the declension of the society. On the contrary, it is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin. The interest of this third order [ie, "those who live by profit"] , therefore, has not the same connection with the general interest of the society as that of the other two [ie, landowners, and "those who live by wages"]. Merchants and master manufacturers are, in this order, the two classes of people who commonly employ the largest capitals, and who by their wealth draw to themselves the greatest share of the public consideration. As during their whole lives they are engaged in plans and projects, they have frequently more acuteness of understanding than the greater part of country gentlemen. As their thoughts, however, are commonly exercised rather about the interest of their own particular branch of business, than about that of the society, their judgment, even when given with the greatest candour (which it has not been upon every occasion) is much more to be depended upon with regard to the former of those two objects than with regard to the latter. Their superiority over the country gentleman is not so much in their knowledge of the public interest, as in their having a better knowledge of their own interest than he has of his . It is by this superior knowledge of their own interest that they have frequently imposed upon his generosity, and persuaded him to give up both his own interest and that of the public, from a very simple but honest conviction that their interest, and not his, was the interest of the public. The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers. To widen the market may frequently be agreeable enough to the interest of the public; but to narrow the competition must always be against it, and can serve only to enable the dealers, by raising their profits above what they naturally would be, to levy, for their own benefit, an absurd tax upon the rest of their fellow-citizens. The proposal of any new law or regulation of commerce which comes from this order ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.

Thus the Prime Mover of Capitalism Himself said in his Bible that political power should never be exercised by businessmen because all they care about is their own gain, and will gladly "deceive" and "oppress" the public for it. Since he had such profound insight into the nature of such men, even to the point of understanding that the greatest profits are reaped when a country is going to ruin! , did he have a strategy to prevent such men from assuming the organs of government? No, none that I've found. Because there aren't any. Such men would inevitably find ways to assume the reins of political power. Adam Smith's economic religious theories basically gave such men the keys to Pandora's Box without providing any way to close it again. That's because greed is an unstoppable force, and there is nothing to stop an unstoppable force from eventually assuming the absolute power they need to "deceive" and "oppress" to further their gain.

Obviously Smith clearly understood what those devoted to wealth would do with political power. That's why he so clearly and strongly cautioned against putting "those who live by profit" -- ie, modern-day neoliberal corporatists (aka businessmen) -- in such positions. That's because Smith, like Ralph Nader, like Paul Hawkens with his philosophy of Natural Capitalism , all understand that the motor behind capitalism is the drive for profit, and they all understand that for capitalism to work for society rather than against it it must remain small (capitalism with a "c") and be held in check.

But capitalism cannot remain small. It must always expand. That's the inherent contradiction that must inevitably explode in greed's favor. You cannot foment an addiction and expect that it will never develop into a pathology. And we are seeing the result of that right now. Capitalism without any regulatory oversight -- the neoliberal vision that has been American policy since Reagan -- is a catastrophe waiting to happen: it is letting drug addicts into the pharmacy while the druggist goes out for lunch, expecting that the addicts won't help themselves to all those Category I & II drugs. And now the catastrophe is happening, but it's only just the beginning, a mere trickle before the tsunami that is quickly coming.

[Jun 04, 2020] When recruiters or job ads say "flexible working hours" all I hear is "you must be flexible to work whatever hours we give you"

Jun 04, 2020 | www.youtube.com

Suadela , 4 months ago

When recruiters or job ads say "flexible working hours" all I hear is "you must be flexible to work whatever hours we give you"

[Jun 02, 2020] What Was Liberalism #3 Neoliberalism Philosophy Tube

Highly recommended!
The author of this video, if you looks at his other video is pretty bizarre and way outside Softpanorama preferences. But this is a very good, highly compressed analyses.
Notable quotes:
"... Liberalism for the poor: "Too bad, personal responsibility" Liberalism for the rich: "All is forgiven, society will pay the bill" ..."
Jun 02, 2020 | www.youtube.com

Xadion , 10 months ago

Neoliberalism: how to be a sociopath and feel good about it.

Tambourine , 2 years ago

The great thing about neoliberalism is that it allows us to blame every single structural problem of our society on either personal failures or too much government.

Elijah Golafale , 2 years ago

To paraphrase Noam Chomsky: "Neoliberalism isn't liberal and, it isn't new"

Super Sand Gaki Super Sand , 1 year ago

>Maggie Thatcher in the thumbnail spits on the screen

Kiloku2 , 2 years ago

The oddest thing I find when arguing with ancaps and neolibs is when I talk about wage-slavery. How the bus driver who gets paid minimum wage and has to work 12h/day in harsh conditions to simply put some bread on their family's table the next morning is basically impeded to seek anything else, and how proper welfare would allow them to at least guarantee a better future for their kids.

The response is that the bus driver "is free" and "chooses" to be a wage-slave, because there is the alternative of not working and dying of hunger.

(They literally said that. Their idea of freedom is that you can choose to die if you don't want to be work terrible conditions because you weren't born into a middle-class family)

cody , 2 years ago

I got the most excited when you insulted neoliberalism immediately.

The Hunter x Hunter 2011 Dickriding Association , 2 years ago

It's all personal responsibility until you are the one that needs help XD

Grace M , 2 years ago (edited)

As a disabled person I'm really glad you talked about disability and it's relation to neoliberalism as many people often forget about how important a point it is. I am not free as a disabled person under neoliberalism/capitalism. This is just a true statement regardless of your view point. Even with the class privilege I have from having had a relatively middle class upbringing I am still trapped. I'm 19 and in university and my family mostly look after me but what will happen when I inevitably have to move out?

Will I be completely reliant on benefits (which are often not enough to live on?) Will I be working in a part time job where I'm constantly in pain and tired barely able to pay rent? Will my house be accessible? And with all these worries will I ever live a meaningful life? Or will I be living pay check to pay check in debt (after the NHS is privatised) and with pain my entire life?

I know everybody has worries but I feel like it's more intensified when you have a disability. I've been worrying about this stuff since I was just entering high school and it is crushingly real and personal. If every person with a disability has to go through this I completely understand the suicide statistics - why would I live in a world that hates me? I'm sorry to be so depressing but this is why I hate when people dismiss it as "just a political opinion" or "not personal." It absolutely is personal. Thank you for bringing this stuff to people's attention - really enjoy your videos! Keep up the good work

UnderdogRecords91 , 1 year ago

Liberalism for the poor: "Too bad, personal responsibility" Liberalism for the rich: "All is forgiven, society will pay the bill"

Josiah Finnemore , 2 years ago (edited)

Welfare reduces freedom, because it prevents you from being able to choose between having a place to live and having access to healthcare, and instead forces you to have both. /s

Brandon , 2 years ago (edited)

I think the primary problem with neoliberalism is simply that it ignores class realities. It ignores the material differences and power imbalances between employers and wage workers and the fact that liberal society contains a ruling class that will always defend its interest against the masses, and how the ruling class propagates the suffering and misery of the lower class.

onlinealiasuk , 2 years ago (edited)

0:29 ''a garbage idea for garbage Humans' is that a shout out for Sargon

Vis Inebrians , 1 year ago

"nowadays 'economic benefits' basically means rich people getting richer and everyone else working harder"

Lovs , 2 years ago

TIL Sargon is a neoliberal.

KOKO ** , 10 months ago

"Choose with your dollars" My father lives where the ONLY general store for MANY miles is a Wal-mart. Just how much freaking frakkin choice is THAT?!?🤯🤯

Michael Gutierrez , 2 years ago

I love that Prager "U" is the ad for this content.

matt & LDN , 1 year ago

Neoliberalism doesn't like the intervention of the state until the go bankrupt and ask the state to bail them with taxpayers money

Abuse of mainstream media can harm your mind! , 1 year ago

"When the last tree has been cut down, the last fish caught, the last river poisoned, only then will you realize that one cannot eat money." Quote of victims of a genocide nobody talks about ..

JulesSpeaksWithWords , 2 years ago

You look like a put together British version of Shaggy from Scooby Doo.

beauson1983 , 1 year ago

I feel that most of this video was recorded through clenched teeth with many, many breaks for screaming in frustration

[Jun 02, 2020] It didn t happen overnight by Ken Melvin

Under neoliberalism (and generally under any form of capitalism without countervailing force) the wages tend to deteriorate to the starvation level
Jun 02, 2020 | angrybearblog.com

Sound too familiar? Sometime in the late 80s (??) Americans began to see day labors line up at Home Depot and Lowe's lots in numbers not seen since The Great Depression. Manufacturing Corporations began subbing out their work to sub-contractors, otherwise known as employees without benefits; Construction Contractors subbed out construction work to these employees without benefits; Engineering Firms subbed out engineering to these employees without benefits; Landscapers' workers were now sub-contractors/independent contractors; Here, in the SF Bay Area, time and again, we saw vans loads of undocumented Hispanics under a 'Labor Contractor' come in from the Central Valley to build condos; the white Contractor for the project didn't have a single employee; none of the workers got a W-2. Recall watching, sometime in the 90s (??), a familiar, well dressed, rotund guest from Wall Street, on the PBS News Hour, forcefully proclaiming to the TV audience:

American workers are going to have to learn to compete with the Chinese; Civil Service employees, factory employees, are all going to have to work for less

All this subcontracting, independent contractors, was a scam, a scam meant to circumvent paying going wages and benefits, to enhance profit margins; a scam that transferred more wealth to the top. Meanwhile back at The Ranch, after the H1B Immigration Act of 1990, Microsoft could hire programmers from India for one-half the cost of a citizen programmer. Half of Bill Gates' fortune was resultant these labor savings; the other half was made off those not US Citizens. Taking a cue, Banks, Bio-Techs, some City and State Governments began subcontracting out their programming to H1Bs. Often, the subcontractors/labor contractors (often themselves immigrants) providing the programmers, held the programmers' passports/visas for security.

In the aftermath of Hurricane Katrina, friends of Bush/Cheney made fortunes on clean up contracts they subbed out for next to nothing; the independent/subcontractor scam was now officially governmentally sanctioned.

By about 2000 we began to hear the term gig-workers applied to these employees without benefits. Uber appeared in 2007 to be followed by Lift. Both are scams based on paying less than prevailing wages, on not providing worker benefits,

These days, the nightly news, when talking about the effect of the pandemic on the populace in America, shows footage of Food Banks in California with lines 2! miles long. Many of those waiting in these lines didn't have a real job before; they were gig-workers; they can't apply for Unemployment Benefits. It is estimated that 1.6 million American workers (1% of the workforce) are gig-workers; they don't have a real job. That 1% is in addition to the 16 million American workers (10% of the workforce) that are independent contractors. Of the more than 40 million currently unemployed Americans, some 17 million are either gig-workers or subcontractors/independent contractors. All of these are scams meant to transfer more wealth to the top. All of these are scams with American Workers the victims; scams, in a race to the bottom.


Denis Drew , May 31, 2020 10:51 am

Ken,

Read this by the SEIU counsel Andrew Strom -- and tell me what you think:
https://onlabor.org/why-not-hold-union-representation-elections-on-a-regular-schedule/

Democrats in the so called battle ground states would clean up at the polls with this. Why do you think those states strayed? It was because Obama and Hillary had no idea what they really needed. Voters had no idea what they SPECIFICALLY needed either -- UNIONS! They had been deunionized so thoroughly for so long that they THEMSELVES no long knew what they were missing (frogs in the slowly boiling pot).

In 1988 Jesse Jackson took the Democratic primary in Michigan with 54% against Dukakis and Gephardt. Obama beat Wall Street Romney and red-white-and-blue McCain in Wisconsin, Ohio and Michigan. But nobody told these voters -- because nobody seems to remember -- what they really needed. These voter just knew by 2016 that Democrats had not what they needed and looked elsewhere -- anywhere else!

Strom presents an easy as can be, on-step-back treatment that should go down oh, so smoothly and sweetly. What do you think?

ken melvin , May 31, 2020 1:04 pm

Denis

Thanks for your comment and the link. Wow! Where to start, huh?

SEIU was a player from the get go, but I don't want to go there just now.

Before Reagan, there was the first rust belt move to the non-union south. Why was the south so anti-union? I think this stuff is engendered from infancy and most of us are incapable of thinking anew when it comes to stuff our parents 'taught' us. MLK was the best thing that ever happened to the dirt-road poor south, yet they hated him and they hated the very unions that might have lifted them up. They did seem to take pleasure in the yanks' loss of jobs.

I think the Reagan era was prelude to what is going on now, i.e., going backward while yelling whee look at me go. No doubt, Reagan turned union members against their own unions. But, the genesis of demise probably lay with automation and the early offshoring to Mexico. By Reagan, the car plants were losing jobs to Toyota and Honda and automation. By 1990, car plants that had previously employed 5,000, now automated, produced more cars employing only 1200. At the time, much of the nation's wealth was still derived from car production.

Skipping forward a bit, the democrats blew it for years with all their talk about the 'middle-class' without realizing it was the 'disappearing middle-class'. They ignored the poor working-class vote and lost election after election.

I've come to not like the term labor, think it affords capital an undeserved status, though much diminished, I think thought all workers would be better off in a union. Otherwise, as we are witnessing, there is no parity between workers and wealth; we are in a race to the bottom with the wealth increasingly go to the top.

ken melvin , May 31, 2020 1:15 pm

Matthew – thanks for your comment

I think that we are into a transition (about 45 yrs into) as great as the industrial revolution. We, as probably those poor souls of the 18th and 19th centuries did, are floundering, unable to come to terms with what is going on.

I also think that those such as the Kochs have a good grasp of what is going on and are moving to protect themselves and their class.

ken melvin , May 31, 2020 1:21 pm

EMichael, thanks for the comment

Are you implying that the politicians are way behind the curve? If so, I think that you are right.

Let me share what I was thinking last night about thinking:

Descartes' problem was that he desperately wanted to make philosophy work within the framework of his religion, Catholicism. Paul Krugman desperately wants to make economics all work within the Holy Duality of Capitalism and Free Markets. Even Joe Stiglitz can't step out of this text. All things being possible, it is possible that either could come up with a solution to today's economic problems that would fit within the Two; but the odds are not good. Better to think anew.

We see politicians try and try to find solutions for today's problems from within their own dogmas/ideologies. Even if they can't, they persist, they still try to impose these dogmas/ideologies in the desperate hope they might work if only applied to a greater degree. How else explain any belief that markets could anticipate and respond to pandemics? That markets could best respond to housing demand?

  1. Interesting and fine writing.
anne , May 31, 2020 1:49 pm

https://twitter.com/paulkrugman/status/1267060950026326018

Paul Krugman @paulkrugman

Glad to see Noah Smith highlighting this all-too-relevant work by the late Alberto Alesina 1/

https://www.bloomberg.com/opinion/articles/2020-05-30/racism-is-the-biggest-reason-u-s-safety-net-is-so-weak

Racism Is the Biggest Reason the U.S. Safety Net Is So Weak
Harvard economist Alberto Alesina, who died last week, found that ethnic divisions made the country less effective at providing public goods.

7:50 AM · May 31, 2020

The Alesina/Glaeser/Sacerdote paper on why America doesn't have a European-style welfare state -- racism -- had a big impact on my own thinking 2/

https://scholar.harvard.edu/files/glaeser/files/why_doesnt_the_u.s._have_a_european-style_welfare_state.pdf

For a long time anyone who pointed out that the modern GOP is basically a party that serves plutocratic ends by weaponizing white racism was treated as "shrill" and partisan. Can we now admit the obvious? 3/

  1. a long, long time. Possibly forever.
anne , May 31, 2020 1:56 pm

https://scholar.harvard.edu/files/glaeser/files/why_doesnt_the_u.s._have_a_european-style_welfare_state.pdf

September, 2001

Why Doesn't the United States Have a European-Style Welfare State?
By Alberto Alesina, Edward Glaeser and Bruce Sacerdote

Abstract

European countries are much more generous to the poor relative to the US level of generosity. Economic models suggest that redistribution is a function of the variance and skewness of the pre-tax income distribution, the volatility of income (perhaps because of trade shocks), the social costs of taxation and the expected income mobility of the median voter. None of these factors appear to explain the differences between the US and Europe. Instead, the differences appear to be the result of racial heterogeneity in the US and American political institutions. Racial animosity in the US makes redistribution to the poor, who are disproportionately black, unappealing to many voters. American political institutions limited the growth of a socialist party, and more generally limited the political power of the poor.

rick shapiro , May 31, 2020 2:07 pm

This dynamic is not limited to low-skill jobs. I have seen it at work in electronics engineering. When I was a sprat, job shoppers got an hourly wage nearly twice that of their company peers, because they had no benefits or long-term employment. Today, job shoppers are actually paid less than company engineers; and the companies are outsourcing ever more of their staffing to the brokers.
Without labor market frictions, the iron law of wages drives wages to starvation levels. As sophisticated uberization software eliminates the frictions that have protected middle class wages in the recent past, we will all need to enlist unionization and government wage standards to protect us.

ken melvin , May 31, 2020 2:29 pm

Rick

The big engineering offices of the 70s were decimated and worse by the mid-90s; mostly by the advent of computers w/ software. One engineer could now do the work of 10 and didn't need any draftsman.

rick shapiro , May 31, 2020 2:40 pm

I was speaking of engineers with equal skill in the same office. Many at GE Avionics were laid off, and came back as lower paid contract employees.

[Jun 02, 2020] Ross Ashcroft on his program Renegade Inc continues to follow up on the Four Horsemen documentary by interviewing Colonel Lawrence Wilkerson and showing additional footage from the interview done with him for the film which sadly wasn't included or aired until now

End of empire Blueprint or scramble -- RT Renegade Inc. Of the many important interviews you've done, this is one of the most important and best.
Jun 02, 2020 | www.moonofalabama.org
karlof1 , Jun 1 2020 21:19 utc | 77
Yes, It's True.... Today, Ross Ashcroft on his program Renegade Inc continues to follow up on the Four Horsemen documentary by interviewing Colonel Lawrence Wilkerson and showing additional footage from the interview done with him for the film which sadly wasn't included or aired until now.

Yes, Wilkerson's clearly an Establishment figure, but he doesn't think or hold what many would consider Establishment views.

Entirely worth spending 25 minutes of your precious time viewing and closely listening.

At the 4:28 mark, the first of the omitted earlier interview begins, but well before that point, Wilkerson ought to have your ear -- do note what he calls all members of Congress at the end of that clip!

At 18:00, please note who he says is behind it all!

All I can say about that show at the moment is WOW!! Watch it!!

[May 31, 2020] The Phillips Curve is a farce, neoclassical theory is a fraud

May 31, 2020 | japantimes.co.jp
Japan's low official jobless rate conceals deeper pain in its labor market: think tank estimates real rate is more than 11%

Capitalism always prevails: everything else is either a prop up or an obstacle. An obstacle is expected to be either ignored or destroyed. In this context, there's only so much Asian hive mind culture (fascism) can do.

Oh, and wages are also at historical lows. The Phillips Curve is a farce, neoclassical theory is a fraud

[May 29, 2020] Trump's Tax Cuts Get an "F" for enriching the Globalist Elite by Michael Cuenco

Highly recommended!
Notable quotes:
"... Instead of reining in the "globalist elites" he so vociferously ran against or those corporations "who have no loyalty to America," his one legislative achievement has been to award them a massive tax cut. Through it, he has maintained their favorite mix of low revenue intake and high deficits which gives Republicans a pretext to "starve the beast" and induce fiscal anorexia. ..."
"... Trump ran as a populist firebrand -- a fusion of Huey Long and Ross Perot -- and while he never abandoned that style, he has governed for the most part as a milquetoast free market Republican in perfect tandem with Paul Ryan and Mitch McConnell, one whose solution to everything is more tax cuts and deregulation: a kind of turbo-charged "high-energy Jeb." ..."
"... With the outbreak of COVID-19, many on the reformist right are hoping for the emergence of the President Trump they thought they were promised, a leader just as ready to break out of the donor-enforced "small government" straitjacket while in power as he was during the campaign. ..."
"... The heightened rhetoric against China will continue -- the one thing Trump is good at -- but it is unlikely to be matched with the required policy ..."
"... If neoliberalism excused inequality at home by extolling the equalization of incomes across the globe (millions of Chinese raised from poverty, while millions of American workers fall back into it!), the new position must shift emphasis back to ensuring a more equitable domestic distribution of wealth and opportunity across all classes and communities in this country. ..."
"... It is worth pondering what might have happened if the administration had gone the other way and followed the last piece of policy advice given by Steve Bannon before his ouster in August 2017. Bannon suggested raising the top marginal income tax rate to 44 percent while "arguing that it would actually hit left-wing millionaires in Silicon Valley, on Wall Street, and in Hollywood." ..."
"... It might well have put Trump on the path to becoming what Daniel Patrick Moynihan once proposed as a model for Richard Nixon when he gifted the 37th president a biography of Disraeli, namely a Tory Republican who could outsmart the left by crafting broad popular coalitions based on a blending of patriotic cultural conservatism with class-conscious economic and social policy. ..."
"... Then and even more so now, the idea resonates: a Reuters/Ipsos poll from January found that 64 percent of Americans support a wealth tax, a majority of Republicans included. Poll after poll has reaffirmed this. It seems as if there is right-wing populist support for taxing the rich more. ..."
"... There is one more thing to be said about the significance of taxing the rich. Up until very recently, there has been a prevailing tendency among the reformist right (with some important exceptions) to couch criticism of the elites primarily or even exclusively in cultural terms. There seems to have been a polite hesitation at taking the cultural critique to its logical economic conclusions. It is easy to excoriate the excesses of elite identity politics, the "woke" part of woke capitalism; it's something all conservatives -- and indeed growing numbers of liberals and socialists -- agree on. Fish in a barrel. ..."
"... But to challenge the capitalism part, i.e. free market orthodoxy, not in a secondary or tertiary way, but head on and in specific policy terms as Lofgren and a few others have done, would involve confronting difficult truths, namely that the biggest beneficiaries of tax cuts and Reaganite economic policy in general, which most conservatives enthusiastically promoted for four decades, are the selfsame decadent coastal elites they claim to oppose. It is they who more than anyone else thrive on financialized globalization, arbitrage and offshoring. ..."
"... In other words, it amounts to an honest recognition of the complicity of conservatism in the mess we're in, which is perhaps a psychological bridge too far for too many on the right, reformist or not. (Trigger Warning!) This separation of culture and economics has led to the farce of a self-styled nationalist president lining the pockets of his nominal enemies, the globalist ruling class. ..."
"... A conservative call to tax the rich would signal that the right is ready to end this charade and chart a course toward a more patriotic, public-spirited and yes, proudly hyphenated capitalism. ..."
"... Michael Cuenco is a writer on politics and policy. He has also written for American Affairs. ..."
May 26, 2020 | www.theamericanconservative.com

They also left worker wages stagnant and increased the deficit. Where is our more nationalist economic policy?

Much has been written about the disappointment of certain segments of the right in the apparent capitulation of Donald Trump to the agenda of the conservative establishment.

Instead of reining in the "globalist elites" he so vociferously ran against or those corporations "who have no loyalty to America," his one legislative achievement has been to award them a massive tax cut. Through it, he has maintained their favorite mix of low revenue intake and high deficits which gives Republicans a pretext to "starve the beast" and induce fiscal anorexia.

The president has granted them as well their ideal labor market through an ingenious formula: double down on mostly symbolic raids (as opposed to systemic solutions like Mandatory E-Verify) and ramp up the rhetoric about "shithole countries" to distract the media, but keep the supply of cheap, exploitable low-skill labor (legal and illegal) intact for the business lobby.

Trump ran as a populist firebrand -- a fusion of Huey Long and Ross Perot -- and while he never abandoned that style, he has governed for the most part as a milquetoast free market Republican in perfect tandem with Paul Ryan and Mitch McConnell, one whose solution to everything is more tax cuts and deregulation: a kind of turbo-charged "high-energy Jeb."

With the outbreak of COVID-19, many on the reformist right are hoping for the emergence of the President Trump they thought they were promised, a leader just as ready to break out of the donor-enforced "small government" straitjacket while in power as he was during the campaign.

Despite signs of progress, what's more likely is a return to business as usual. Already the GOP's impulse for austerity and parsimony is proving to be stronger than any willingness to think and act outside the box.

The heightened rhetoric against China will continue -- the one thing Trump is good at -- but it is unlikely to be matched with the required policy, such as a long-term plan to reshore U.S. industry (that doesn't just rely on blindly giving corporations the benefit of the doubt). At this point, we already know where the president's priorities lie when given a choice between the advancement of America's workers or continued labor arbitrage and carte blanche corporate handouts.

Lest they be engulfed by it like everyone else, the reformist right should ask: is there any way to stand athwart the supply-side swamp yelling Stop?

Many of these conservatives lament the Trump tax cut not just because it was a disaster that failed to spark reinvestment, left wages stagnant, needlessly blew up the deficit and served as a slush fund for stock buybacks, but more fundamentally because it betrayed the overwhelming intellectual inertia and lack of imagination that characterizes conservative policymaking.

More than in any other issue then, a distinct position on taxes would make the new conservatism truly worth distinguishing from the old: tax cuts were after all the defining policy dogma of the neoliberal Reagan era.

If neoliberalism excused inequality at home by extolling the equalization of incomes across the globe (millions of Chinese raised from poverty, while millions of American workers fall back into it!), the new position must shift emphasis back to ensuring a more equitable domestic distribution of wealth and opportunity across all classes and communities in this country.

A reformulation of fiscal policy along populist economic nationalist lines can help with that.

It is worth pondering what might have happened if the administration had gone the other way and followed the last piece of policy advice given by Steve Bannon before his ouster in August 2017. Bannon suggested raising the top marginal income tax rate to 44 percent while "arguing that it would actually hit left-wing millionaires in Silicon Valley, on Wall Street, and in Hollywood."

Such a move would have been nothing short of revolutionary: it would have been a faithful and full-blown expression of the populist economic nationalism Trump ran on; it would have presented a genuine material threat to the elite ruling class of both parties, and likely would have pre-empted the shock value of Alexandria Ocasio-Cortez proposing a 70 percent top marginal rate.

It might well have put Trump on the path to becoming what Daniel Patrick Moynihan once proposed as a model for Richard Nixon when he gifted the 37th president a biography of Disraeli, namely a Tory Republican who could outsmart the left by crafting broad popular coalitions based on a blending of patriotic cultural conservatism with class-conscious economic and social policy.

Not that Trump would have needed to go back to Nixon or Disraeli for instruction on the matter. In 1999, long before Elizabeth Warren came along on the national scene, a presidential candidate eyeing the Reform Party nomination contemplated the imposition of a 14.25 percent wealth tax on America's richest citizens in order to pay off the national debt: his name was Donald Trump.

What ever happened to that guy? The Trump of 1999 was onto something. Maybe this could be a way to deal with our post-pandemic deficits.

Then and even more so now, the idea resonates: a Reuters/Ipsos poll from January found that 64 percent of Americans support a wealth tax, a majority of Republicans included. Poll after poll has reaffirmed this. It seems as if there is right-wing populist support for taxing the rich more.

To the common refrain, "the rich are just going to find ways to shelter their income or relocate it offshore," I have written elsewhere about the concrete policy measures countries can and have taken to clip the wings of mobile global capital and prevent such an outcome.

I have written as well about how taxing the rich and tightening the screws on tax enforcement have implications that go beyond the merely redistributive approach to fiscal policy conventionally favored by the left; about how it can be a form of leverage against an unaccountable investor class used to shopping at home and abroad for the most opaque assets in which to hoard vast amounts of essentially idle capital.

A deft administration would use aggressive fiscal policy as an inducement for this irresponsible class to make things right by reinvesting in such priorities as the wages and well-being of workers, the vitality of communities, the strength of strategic industries and the productivity of the real economy – or else Uncle Sam will tax their wealth and do it for them.

It would also be an assertion of national sovereignty against globalization's command for countries to stay "competitive" by immiserating their citizens with ever-lower taxes on capital holders and ever more loose and "flexible" labor markets in a never-ending race to the bottom.

Mike Lofgren has penned a marvelous essay in these pages about the virtual secession of the rich from the American nation, "with their prehensile greed, their asocial cultural values, and their absence of civic responsibility."

What better way to remind them that they are still citizens of a country and members of a society -- and not just floating streams of deracinated capital -- than by making them perform that most basic of civic duties, paying one's fair share and contributing to the commonweal? America need not revert to the 70-90 percent top marginal rates of the bolshevik administrations of Truman, Eisenhower or Kennedy, but proposals for modest moves in that direction would be welcome.

There is one more thing to be said about the significance of taxing the rich. Up until very recently, there has been a prevailing tendency among the reformist right (with some important exceptions) to couch criticism of the elites primarily or even exclusively in cultural terms. There seems to have been a polite hesitation at taking the cultural critique to its logical economic conclusions. It is easy to excoriate the excesses of elite identity politics, the "woke" part of woke capitalism; it's something all conservatives -- and indeed growing numbers of liberals and socialists -- agree on. Fish in a barrel.

But to challenge the capitalism part, i.e. free market orthodoxy, not in a secondary or tertiary way, but head on and in specific policy terms as Lofgren and a few others have done, would involve confronting difficult truths, namely that the biggest beneficiaries of tax cuts and Reaganite economic policy in general, which most conservatives enthusiastically promoted for four decades, are the selfsame decadent coastal elites they claim to oppose. It is they who more than anyone else thrive on financialized globalization, arbitrage and offshoring.

In other words, it amounts to an honest recognition of the complicity of conservatism in the mess we're in, which is perhaps a psychological bridge too far for too many on the right, reformist or not. (Trigger Warning!) This separation of culture and economics has led to the farce of a self-styled nationalist president lining the pockets of his nominal enemies, the globalist ruling class.

Already, the White House is proposing yet another gigantic corporate tax cut. Using the exact same discredited logic as the last one, senior economic advisor Larry Kudlow wants Americans to trust him when he says that halving the already lowered 2017 rate to 10.5 percent will encourage these eminently reasonable multinationals to reinvest. There he goes again.

A conservative call to tax the rich would signal that the right is ready to end this charade and chart a course toward a more patriotic, public-spirited and yes, proudly hyphenated capitalism.

Michael Cuenco is a writer on politics and policy. He has also written for American Affairs.


Kent 3 days ago

"America need not revert to the 70-90 percent top marginal rates of the bolshevik administrations of Truman, Eisenhower or Kennedy, but proposals for modest moves in that direction would be welcome."

Those tax rates were offset by direct investment in the US economy. So if I invested in the stock market, I'd get a 90% tax rate because that doesn't produce actual wealth. On the other hand, if I invested in building factories that created thousands of jobs for American citizens, my tax rate may fall to 0%. And those policies created a fantastic economy that we oldsters remember as the golden age. That wasn't bolshevism, it was competitive capitalism. What we have today is libertarianism. And as long as conservatives are going to let the libertarian boogey-man's nose under the tent, we are going to have this ugly, bifurcated economy. Your choice. Man up.

Winston Nevis Kent 3 days ago • edited
You ever tell hear of sarcasm, bud? I think that's what the author was going for. Don't think he was trying to say that Ike and Truman were Bolsheviks but was rather making fun of libertarians who hyperbolically associate high tax rates with socialism and Soviet Communism...
K squared Winston Nevis 3 days ago
Plenty of goldwater's supporters in 1964 called President Eisenhower a communist
GAguilar K squared 2 days ago
Particularly the John Birchers, including my parents!
SKPeterson Kent 3 days ago • edited
We absolutely do not have libertarianism operating in this country today. There is simply no evidence that there is any sort of libertarian economic or political system in place. Oh sure, you'll whine "but globalism without actually defining what globalism is, or what is wrong about precisely, but just that it's somehow wrong and that libertarians are to blame for it. There's a good word for such an argument: bullshit.
We have an economy that is extraordinarily dominated by the state via mandates, regulations, and monetary interference that is most decidedly not libertarian in any way whatsoever. The current system though does create and perpetuate a system of rent-seeking cronies who conform rather nicely to the descriptions of said actors by Buchanan and Tullock. The problems of the modern economy are the result of state interference, not its absence, and Cuenco's sorry policy prescriptions do nothing to minimize the state but instead just create a different set of rent-seeking cronies for which the wealth and incomes of the nation are to be expropriated.
marku52 SKPeterson 3 days ago
O dear, No True Scotsman....
SKPeterson marku52 2 days ago
If you can point to how the current situation is in any way "libertarian" without creating your own perfect little lazy straw man definition then by all means do so. Until then your retort is without
substance (you see a no true Scotsman reply doesn't work if the facts are in the favor of the person supposedly making such an argument. Here you fail to establish why what I said is such a case; saying it doesn't make it so). When Kent makes some throwaway comment that we're somehow living in some sort of libertarian era he's full of it, you know it, and all you can do is provide some weak "no true Scotsman" defense? Come on and man up, stop appealing to artificial complaints of fallacious argumentation, and give me an actual solid argument with evidence beyond "this is so libertarian" that we're living in some libertarian golden age that's driving the oppression of the masses.
cka2nd SKPeterson 3 days ago
Busted unions, contracting out and privatization, deregulation of vast swaths of the economy since the late 1970's (Jimmy Carter has gotten kudos from libertarian writers for his de-regulatory efforts), lowered tax rates, especially on financial speculation and concentrated wealth, a blind eye or shrugged shoulder to anti-trust law and corporate consolidation. Yeah, nothing to see here, no partial victories for the libertarian wings of the ruling class or the GOP, at all. The Koch Brothers accomplished nothing, absolutely nothing, since David was the Libertarian Party's nominee for Vice President in 1980; all that money gone to waste. Sure.
SKPeterson cka2nd 2 days ago
So, now some sort of "partial victory" means we're living in some sort of libertarian era? And what exactly was so wonderful about all the things you listed being perpetuated? So, union "busting" is terrible, but union corruption was a great part of our national solidarity and should have been protected? Deregulation of vast swathes of the economy? You mean the elimination of government controlled cartels in the form of trucking and airlines? You mean the sorts of things that have enabled the working class folks you supposedly favor to travel to places that were previously out of reach for them and only accessible to the rich for their vacations? Yes, that's truly terrible. Again, you're on the side of the little guy, right? Lowered taxes? Are you seriously going to argue that the traditional conservative position has been for high tax rates? What are taxes placed upon? People and property. What do conservatives want to protect? People and property. So... arguing for higher taxes or saying that low taxes are bad or even especially, libertarian, is really going off the rails. That's just bad reasoning. And regarding financialization, those weren't especially libertarian in their enacting, but rather flow directly out of the consequences of the modern Progressive implementation of neo-Keynesian monetary and fiscal policy. Suffice it to say, I don't think you'll find too many arguments from libertarians that the policies encouraging financialization were good or followed libertarian economic policy prescriptions. Moreover, they led entirely to the repulsive "too big to fail" situation and if there's one thing that libertarians hold to is that there is no such thing (or shouldn't be) as "too big to fail." The objection to anti-trust law is that it was regularly abused and actually created government-protected firms that harmed consumers. If you think anti-trust laws are good things and should be supported by conservatives then by all means encourage Joe Biden to have Elizabeth Warren as his vice-presidential running mate and go vote Democrat this fall.
Blood Alcohol SKPeterson 3 days ago
"The problems of the modern economy are the result of state interference, not its absence". That's because the "state interference" is working as proxy for the interests of vulture capitalist.

What we have today is vulture capitalism as opposed to free enterprise capitalism.

DUNK Blood Alcohol 2 days ago • edited
You could also call it "crony capitalism" or "inverted totalitarianism".

Chris Hedges: "Sheldon Wolin and Inverted Totalitarianism" (November 2, 2015)

GAguilar DUNK 2 days ago
Princeton professor Sheldon Wolin's excellent book is entitled, "Democracy Incorporated."

He lays out how we're living in a totalitarian, capitalist surveillance state, as if that's not already obvious to most people around here.

SKPeterson Blood Alcohol 2 days ago
Exactly. The existence of a vulture capitalist or crony capitalist economy, which we have in many sectors, is evidence that "libertarianism" is nothing more than a convenient totem to invoke as a rationale for complaint against the outcomes of the existing crony capitalist state of affairs. My contention is that Cuenco, et al are simply advocating for a replacement of the cronies and vultures.
1701 3 days ago
A very similar article(but probably coming at it from a slightly different angle) wouldn't look out of place in a socialist publication.
The culture war really is a pointless waste of time that keeps working class people from working towards a common solution to shared problems.
bumbershoot 3 days ago
Trump wants to "keep the supply of cheap, exploitable low-skill labor (legal and illegal) intact for the business lobby."

Well of course he does -- otherwise how would he staff Mar-A-Lago and other Trump Organization businesses?

SKPeterson 3 days ago
I used to think that conservatism was about protecting private property and not, like Cuenco, in coming up with ever more excuses for expropriating it.
Kent SKPeterson 3 days ago
No, that's libertarianism (or more properly propertarianism). Conservatism is first and foremost about responsibility to God, community, family and self. Property is only of value in its utility towards a means.
GAguilar Kent 2 days ago • edited
As I see it, here are examples of how "conservatives" have actually practiced their "responsibility to God, community, family and self":

The genocide of Native Americans
The slavery and murder of blacks

Their opposition to child labor laws, to womens' suffrage, etc.
Their support of Jim Crow laws
Their opposition to ending slavery and opposition to desegregation
Opposition to Civil Liberties Laws

Willingness to block, or curtail, voting rights.

Hyping the "imminent threat" of an ever more powerful communist menace bearing
down on us from the late 40s to the "unanticipated" collapse of the
USSR in '91. All of which was little more than endless "threat inflation" used
by our defense industry-corporate kleptocrats to justify monstrous increases
in deficits that have been "invested" in our meddlesome, murderous militarism all around the world, with the torture and deaths of millions from S. E. Asia, to Indonesia, to Latin America, to the Middle East, to Africa, etc.

Violations of privacy rights (conservative hero J. Edgar Hoover's illegal domestic surveillance and acts of domestic terrorism, "justified" by
his loopy paranoia about commies on every corner and under every bed.)

Toppling of democracies to install totalitarian despots in Iran
("Ike" '53), Guatemala (Ike, again, '54), Chile (Nixon '73), Brazil (LBJ, '64) and many, many more countries.

Strong support of the Vietnam War, the wars in Laos and Cambodia, and the Iraq War, which, according to conservative W. Bush, God had inspired.

The myriad "dirty wars" we've fought around the world, and not only in Latin America.

With a few, notable exceptions, conservatives have routinely been on the wrong side of these issues. For the most part, it has been the left, particularly the "hard left," that has gotten it right.

AdmBenson SKPeterson 2 days ago
"conservatism was about protecting private property"

You're conflating conservatism and libertarianism. Conservatives realize they are citizens of a country. Libertarians wish they weren't.

SKPeterson AdmBenson 2 days ago
So conservatism should be entirely about taking people's property "for the good of the country"? That the purpose of a country is to loot the people? That the people exist for the government and not the government for the people? Seems Edmund Burke and Russell Kirk would like to have a word with you Adm.

To quote Kirk as just one example of your fundamental error:

Seventh, conservatives are persuaded that freedom and property are closely linked . [Apparently, Adm. you dispute Kirk's assertion and accuse him thereby of conflating libertarianism and conservatism. Yes, I know Kirk was a hater of the idea of patriotism, but he was such a raging libertarian what else could he do?] Separate property from private possession, and Leviathan becomes master of all. Upon the foundation of private property, great civilizations are built. The more widespread is the possession of private property, the more stable and productive is a commonwealth. Economic levelling [this is the outcome of Cuenco's policy prescriptions by the way] , conservatives maintain, is not economic progress. Getting and spending are not the chief aims of human existence; but a sound economic basis for the person, the family, and the commonwealth is much to be desired.

So, either "Mr. Conservative" Russell Kirk wasn't really a conservative but a man who horribly conflated libertarianism and conservatism, or we can say that Kirk was a conservative and that he recognized the protection of private property as crucial in minimizing the control and reach of the Leviathan state. If the latter holds, then maybe what we've established is that AdmBenson isn't particularly conservative.

Winston Nevis SKPeterson 2 days ago • edited
"The more widespread is the possession of private property, the more stable and productive is a commonwealth." This status quo has produced precisely the opposite of this. Wealth, assets, capital has been captured by the elite. The pitchforks are coming. See this CBO chart: View Hide
AdmBenson SKPeterson 2 days ago
Conservatives accept taxes as a part of citizenship. Since taxes can't be avoided, a conservative insists on democratic representation and has a general desire to get maximum bang for their taxpayer buck.

Libertarians, on the other hand, see everything through the lens of an individual's property rights. Taxes and regulation are infringements on those rights, so a libertarian is always at war with their own government. They're not interested in bang for their taxpayer buck, they just want the government to go away. I can't fault people for believing this way, but I can point out that it is severely faulty as the operating philosophy beyond anything but a small community.

As for me not being particularly conservative, ya got me. It really depends on time of day and the level of sunspot activity.

SKPeterson AdmBenson 2 days ago
Sunspots, eh? And here I thought it was your reliance on tinfoil.
AdmBenson SKPeterson 2 days ago
The tinfoil and the mask were scaring people. The tinfoil had to go, but that's had side effects.
SKPeterson AdmBenson 2 days ago
I should have put the /s on my reply, but your response did give me a good chuckle. Besides, for that finger pointing at you, there were three more pointing back at me.
JMWB 3 days ago
And somehow people continually fall for the Trickle Down economic theory. George HW Bush was correct when he called this VooDoo economics. Fiscal irresponsibility at it's finest.
Victor_the_thinker JMWB 3 days ago
Nah people don't fall for it, republicans do. The rest of us know this stuff doesn't work. We didn't need an additional datapoint to realize that. The Tax Cuts and Jobs act was the single most unpopular piece of legislation to ever pass since polling began. It never had support outside of the Republican Party which is why it's never had majority support.

https://news.gallup.com/pol...

Blood Alcohol JMWB 3 days ago
John Kenneth Galbraith called Trickle Down "economics", "Oats and Horse Economics". If you feed the horse a lot of oats, eventually some be left on the road...
Nelson 3 days ago
The leader of Republicans isn't Trump. It's Mitch McConnell.
J Villain Nelson 3 days ago
Mitch is fully owned by Trump as is every republican that holds office except Romney. Mitch can't go to the bathroom with out asking Trumps permission.
Nelson J Villain 3 days ago
Mitch is owned by corporations and he likes it that way. He basically says as much whenever campaign finance reform pops up and he defends the status quo.
aha! Nelson 2 hours ago
Yep. The guy who declared war on the Tea Party. The guy who changed his tune entirely about China when he married into the family of a shipping magnate.
SeekingTruth 3 days ago
I'm eagerly awaiting a GOP plan for economic restructuring. I've been waiting for decade(s). Surely there is someone in the entire body of think tanks, congressional staffers, and political class that can propose a genuine and comprehensive plan for how to rebalance production, education, and technology for the better of ALL Americans. Surely...
Tradcon SeekingTruth 3 days ago
American Affairs (the policy journal this author writes for) and The American Compass are both very good.
cka2nd SeekingTruth 3 days ago
I honestly wonder if Jack Kemp might have had a "Road to Damascus" conversion away from his pseudo-libertarian and supply side economic convictions if he had lived through the decade after the Great Recession. Probably not, given his political and economic activity up until his death.
Barry_II 3 days ago
"They also left worker wages stagnant and increased the deficit. Where is our more nationalist economic policy?"

In your dreams, just like those many large projects which Trump drove into bankruptcy.

Right alongside the money owed to the many people he's stiffed.

Name 3 days ago
So after 30 years or more of " globalism" , the GOP is adopting Bernie Sanderism?
Johnny Larue Name 3 days ago
Uh, no.
Name Johnny Larue 2 days ago
Uh, it seems so. Did you even read?
TheSnark 3 days ago • edited
Trump pushed the tax cut because it saves him at least $20 million each year in taxes, probably closer to $50 million. That's the only reason he does anything, because he benefits personally.
kouroi 3 days ago
Thank you very much for posting the link to the wonderful essay by Mike Lofgren. Written 8 years ago it feels even more actual than then. I have bookmarked it for future reference.

Looking at the US it always comes to my mind the way Rome and then Byzantium fell: a total erosion of the tax-base the rich refused to pay anything to the imperial coffers, and then some of the rich had land bigger than some modern countries... And then the barbarians came...

Kent kouroi 3 days ago
And, by then, the population welcomed the barbarians.
kouroi Kent 3 days ago
Likely true, with some exceptions... The Huns - and on that one I keep wondering if there isn't a whiff of "Yellow Peril" smell in all that outcry...
Ray Woodcock kouroi 2 days ago • edited
Lofgren: "What I mean by secession is a withdrawal into enclaves, an internal immigration, whereby the rich disconnect themselves from the civic life of the nation and from any concern about its well being except as a place to extract loot."

That was in 2012, but that was what struck me about my well-to-do classmates when I transferred from Cal State Long Beach to Columbia University in 1977 . Suddenly I was among people who saw America, American laws, and a shared sense of civic responsibility as quaint, bothersome, rather tangential to the project of promoting oneself and/or one's special interest.

kouroi Ray Woodcock 2 days ago
Cold, eh mate? Reptiles, lizards...?
Adriana Pena 3 days ago
Did you ever hope that Trump would do what you wanted? You are adorable
sam 3 days ago
The only way that factories would come back is when Americans start buying made in America. We can't wait for ANY government to bring those factories and jobs ( and technology) . Only people voting with their pocketbooks can do it.
J Villain 3 days ago
Still waiting for the day the first American asks "What have WE done wrong?" Rather than just following in Trumps step and playing the victim card every step of the way and wondering why nothing gets better.
Blood Alcohol J Villain 3 days ago
nuffsaid. The blood is on everyone's hands.

[May 26, 2020] There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning

Highly recommended!
May 26, 2020 | www.moonofalabama.org

likbez , May 25 2020 18:58 utc | 102

@vk | May 25 2020 15:19 utc | 83

Please understand that communism is a utopia, a religious dogma, completely discredited by the history.

While Marx critique of capitalism and the idea of class struggle survived the test of time, the idea of communism with its central postulate about future hegemonic role of proletariat proved to be false. Which means the communism is yet another utopia, a religious cult, if you wish.

Bolshevism as it existed in the USSR in a form of Stalinism and than "Brezhnev developed socialism" was really a cruel and bloodthirsty religious cult (less bloodthirsty in the latter form, but still). No questions about it.

Although I do not understand details, it look like China Communist Party also degenerated into hypocritical religious cult, not that dissimilar from CPSU. That might well makes Chinese society somewhat unstable and vulnerable to the color revolution. As soon as intelligence services change flag like KGB did, that would be it.

On the contrary neoliberalism (which probably should be understood as Trotskyism for the rich -- financial oligarchy of all countries unite) is the only derivative of Marxism that survived as a widespread social system. It managed to survive the major crisis of 2008 as a social system almost intact, despite the fact that the neoliberal ideology was completely discredited. Its resilience after 2008 is simply amazing.

Moreover, Neoliberalism does enjoy unweaving support of probably 20% of the USA society -- PMC or "professional and managerial class" which IMHO includes a part of brainwashed working class and small business owners. Which is a factor that essentially guarantees its longevity and survival after the current shock, despite all our wishes for the contrary. In other words, class struggle does exist, but it is almost always uphill battle, and the max achievable are some watered down reforms. That essentially the idea of social democracy and the USA the New Deal.

As Warren Buffett aptly said "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning."

And we should not mix Trump "national neoliberalism" with fascism. It is a completely different social phenomena, a social system that does not require mass mobilization and a mass Party. It does has some common features (the role on intelligence agencies, the role of propaganda, etc,) but still the differences are more prononced then similarities. Sheldon Wolin called it "inverted totalitarism" ( https://www.truthdig.com/articles/sheldon-wolin-and-inverted-totalitarianism/ )


Wolin lays bare the realities of our bankrupt democracy, the causes behind the decline of American empire and the rise of a new and terrifying configuration of corporate power he calls "inverted totalitarianism."

Wendy Brown, a political science professor at UC Berkeley and another former student of Wolin's, said in an email to me: "Resisting the monopolies on left theory by Marxism and on democratic theory by liberalism, Wolin developed a distinctive -- even distinctively American -- analysis of the political present and of radical democratic possibilities. He was especially prescient in theorizing the heavy statism forging what we now call neoliberalism, and in revealing the novel fusions of economic with political power that he took to be poisoning democracy at its root."

Wolin throughout his scholarship charted the devolution of American democracy and in his last book, "Democracy Incorporated," details our peculiar form of corporate totalitarianism. "One cannot point to any national institution[s] that can accurately be described as democratic," he writes in that book, "surely not in the highly managed, money-saturated elections, the lobby-infested Congress, the imperial presidency, the class-biased judicial and penal system, or, least of all, the media."

[May 25, 2020] Gangster politics at the age of Trump: Lack of principle itself becomes a principle.

May 25, 2020 | logosjournal.com

Originally from: Gangster Politics Logos Journal by by Stephen Eric Bronner

Gangster politicians like to think that they are slick. They talk slang and curse a lot, grab a girl's ass (or worse), insist that they never read a book, thumb their noses at intellectual elites, boast about their high IQs, and proclaim their "street smarts." They also view themselves both as victims of their critics' malice and "great men" alone capable of curing the nation's ills.

They make their base feel the same: they are despised and yet the real Americans! Their belief in the boss is unwavering. Only he can make America great again.

Those who oppose his policies are traitors and the threats they pose are serious -- and, if they are not serious, then they must be made serious. History teaches what might become necessary in order to teach them a lesson. The Reichstag Fire of 1933 and the (staged) assassination of Sergei Kirov in 1934 were the dramatic events that led Hitler and Stalin to justify attacks on enemies, renegades, and supposed traitors to the state. Gangster politicians under internal pressure pray for a crisis, or what Trump once forecast as a "major event," in order to rally the troops and clean house.

Gangster politics requires no ideology. Lack of principle itself becomes a principle.

The great man must do what must be done: if that means lying, reneging on deals, shifting gears, rejecting transparency, and whatever else, then so be it. That he can employ the double standard is a given.

Big talk takes the place of diplomacy and, if the bluster doesn't work then America alone -- or, better, the boss alone -- can rely on "fire and fury" whenever and wherever he likes.

Traditionalists employed jingoistic rhetoric and wrapped themselves in the flag. The gangster politician talks like a schoolyard bully and salutes himself.

Gangster politicians of times past had subordinates swear an oath of loyalty not to the state but to them. Yesterday's "America! Love it or leave it!" has today turned into: "Trump! Love him -- or shut up!"

[May 25, 2020] Neoliberalism will probably survive the crush of the American empire.

May 25, 2020 | www.moonofalabama.org

likbez , May 25 2020 18:58 utc | 102

@vk | May 25 2020 15:19 utc | 83

Please understand that communism is a utopia, a religious dogma, completely discredited by the history.

While Marx critique of capitalism and the idea of class struggle survived the test of time, the idea of communism with its central postulate about future hegemonic role of proletariat proved to be false. Which means the communism is yet another utopia, a religious cult, if you wish.

Bolshevism as it existed in the USSR in a form of Stalinism and than "Brezhnev developed socialism" was really a cruel and bloodthirsty religious cult (less bloodthirsty in the latter form, but still). No questions about it.

Although I do not understand details, it look like China Communist Party also degenerated into hypocritical religious cult, not that dissimilar from CPSU. That might well makes Chinese society somewhat unstable and vulnerable to the color revolution. As soon as intelligence services change flag like KGB did, that would be it.

On the contrary Neoliberalism (which probably should be understood as Trotskyism for the rich -- financial oligarchy of all countries unite) is the only derivative of Marxism that survived as a widespread social system. It managed to survive the major crisis of 2008 as a social system almost intact, despite the fact that the neoliberal ideology was completely discredited. Its resilience after 2008 is simply amazing.

Moreover, Neoliberalism does enjoy unweaving support of probably 20% of the USA society -- PMC or "professional and managerial class" which IMHO includes a part of brainwashed working class and small business owners. Which is a factor that essentially guarantees its longevity and survival after the current shock, despite all our wishes for the contrary. In other words, class struggle does exist, but it is almost always uphill battle, and the max achievable are some watered down reforms. That essentially the idea of social democracy and the specific USA for of it -- The New Deal.

As Warren Buffett aptly said "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning."

And we should not mix Trump "national neoliberalism" with fascism. It is a completely different social phenomena, a social system that does not require mass mobilization and a mass Party. It does has some common features (the role on intelligence agencies, the role of propaganda, etc,) but still the differences are more pronounced then similarities. Sheldon Wolin called it "inverted totalitarism" ( https://www.truthdig.com/articles/sheldon-wolin-and-inverted-totalitarianism/ )


Wolin lays bare the realities of our bankrupt democracy, the causes behind the decline of American empire and the rise of a new and terrifying configuration of corporate power he calls "inverted totalitarianism."

Wendy Brown, a political science professor at UC Berkeley and another former student of Wolin's, said in an email to me: "Resisting the monopolies on left theory by Marxism and on democratic theory by liberalism, Wolin developed a distinctive -- even distinctively American -- analysis of the political present and of radical democratic possibilities. He was especially prescient in theorizing the heavy statism forging what we now call neoliberalism, and in revealing the novel fusions of economic with political power that he took to be poisoning democracy at its root."

Wolin throughout his scholarship charted the devolution of American democracy and in his last book, "Democracy Incorporated," details our peculiar form of corporate totalitarianism. "One cannot point to any national institution[s] that can accurately be described as democratic," he writes in that book, "surely not in the highly managed, money-saturated elections, the lobby-infested Congress, the imperial presidency, the class-biased judicial and penal system, or, least of all, the media."

In other words Neoliberalism will probably survive the crush of the American empire.

[May 24, 2020] As its own infrastructure has been laid waste by the COLLASSAL MONEY PIT that is the Pentagon, its flagrant use of the most valuable energy commodity, oil, to maintain some 4000 bases worldwide, this rickety over-extended upside down version of old Anglo-Dutch trading empires, will finally collapse

Kissinger laid out the transition plan in 2014 in his WSJ Op-Ed: Henry Kissinger on the Assembly of a New World Order . USA Deep State are not the complete idiots that some want to make them seem.
China is still very vulnerable and the USA has multiple levers to force it to suffer.
May 24, 2020 | www.moonofalabama.org
Kurt Zumdieck , May 22 2020 18:24 utc | 4
If Washington lured the Soviet Union into it's demise in Afghanistan, which left that minor empire in shambles - socially, militarily, economically - it was the nuclear conflagration at Chernobyl that put the corpse in the ground.....

(Watch the GREAT HBO five-part tragedy on it and you will see that the brutally heroic response of the Soviets, that saved the Western World at least temporarily, but is the portrait of self-sacrifice)

What was lost in the Soviets fumbling immediate post-explosion cover-up was the trust of their Eastern European satellite countries. That doomed that empire. So much military might was given up in Afghanistan, then on Chernobyl, it was not clear if the Soviets had the wherewithal to put down the rebellions that spread from Czechoslovakia to East Germany and beyond.

Covid-19 will do the same to the American Empire.

As its own infrastructure has been laid waste by the COLLASSAL MONEY PIT that is the Pentagon, its flagrant use of the most valuable energy commodity, oil, to maintain some 4000 bases worldwide, this rickety over-extended upside down version of old Anglo-Dutch trading empires, will finally collapse.

Loss of trust by the many craven satellites, in America's fractured response, to Covid-19 will put the final nail in its coffin.

A hot-shooting War may come next, but the empire cannot win it.


William Gruff , May 23 2020 14:25 utc | 79

"I will believe my eyes." --oldhippie @76

It would be nice if that were so, but it is very unlikely.

"So tired of reading propaganda."

Is that why you regurgitate it onto forums? Kinda like purging the system, eh?

If you are going to be judging China's economic health by their pollution levels then in the future you will find yourself convinced that they have never recovered, even when it becomes inescapably obvious that they have. The fact is that China's pollution levels are never going back to 2019 levels, but that has nothing to do with their economic health.

It really never ceases to amaze me how deeply rooted and pervasive the delusions and sense of exceptionality is in America. It is woven into the thinking, from the lowest levels to the very top of their thoughts, of even the very most intelligent Americans. It is apparently a phenomenon that operates at an even deeper level than mass media brainwashing, as it seems it was just as much a problem in every empire in history. That is, I am sure citizens of the Roman Empire had the same blinding biases embedded deep below their consciousness. I guess Marx was entirely correct to say that consciousness arises from material conditions, and being citizen of an empire must be one of those material conditions that gives rise to this all-pervasive and unconscious sense of exceptionality.

oldhippie , May 23 2020 11:47 utc | 71
Go over to EOSDIS Worldview and take a look at satellite photos of China. Simple toggle in lower left hand corner will take you to photos of same day, earlier years. Or any day in satellite record.

The skies over China are clear. Chinese industry is not back at work. It may be that China at 50% or even at 20% is a manufacturing powerhouse compared to a crumbling US. But until China is back at work the thread so far is about the historical situation six months ago.

Xi used to do elaborately staged state appearances with well planned camera angles, fabulous lighting, pomp and circumstance. He enjoyed the trappings of power and knew how to use the trappings of power. Hasn't done that kind of state appearance since January.

Paul , May 23 2020 12:47 utc | 72
The Empire has no respect for international agreements, laws or anything that interferes with maintaining US global hegemony.
lizzie dw , May 23 2020 12:55 utc | 73
China and the US are so different. The citizens of China cannot vote. The population's movements are micromanaged by the government. This is not the case here (yet). And I hope it is never the case. I agree with the premise that there are those in our government who are living in a dream of the past and that is over, unless we want to destroy the world. But China's government is so repressive. The rules must be obeyed. We seem to be compliant so far of some of our government officials stepping over the bounds allowed by our Constitution, due to the fear of C-19 engendered by the deep state (aka the bsmsm). But we will not do that forever and our government cannot just start shooting big crowds of us as they can and have done in China. Theirs is all top down rule, which is not the case here. Also, although it is probably heretical to say this I am glad that the US has many cases of C-19. We will eventually get herd immunity. IMO, China can lock down as many millions of citizens as they wish; they cannot stop this virus and as time goes by they will have as many deaths and as many cases as everybody else. Well, that is off the topic of the article. In the end I agree that we are fighting weird battles we can never win and we citizens need to keep informing our government employees that we just want to trade and make money, not threaten companies and countries and lose money.

[May 24, 2020] Unable to communicate in Arabic and with no relevant experience or appropriate educational training

Highly recommended!
I wouldn't hold my breath for the slightest change in that status quo any time soon.
May 24, 2020 | www.unz.com

anonymous [400] Disclaimer , says: Show Comment May 23, 2020 at 12:34 pm GMT

Unable to communicate in Arabic and with no relevant experience or appropriate educational training

Seems rather typical of those making policy, not knowing much about the area they're assigned to. If a person did know Arabic and had an understanding of the culture they wouldn't get hired as they'd be viewed with suspicion, suspected of being sympathetic to Middle Easterners. How and why these neocons can come back into government is puzzling and one wonders who within the establishment is backing them. Judging by the quotes her father certainly seems deranged and not someone to be allowed anywhere near any policy making positions.
Flynn also seems to be a dolt what with his 'worldwide war against radical Islam'. Someone should clue him in that much of this radical Islam has been created and stoked by the US who hyped up radical Islam, recruiting and arming them to fight the Russians in Afghanistan. Bin Laden was there, remember? Flynn, a general, is unaware of this? Islamic jihadists are America's Foreign Legion and have been used all over the Muslim world, most recently in Syria. Does this portend war with Iran? Possibly, but perhaps Trump wouldn't want to go it alone but would want the financial support of other countries. They've probably war-gamed it to death and found it to be a loser.

[May 23, 2020] Coronavirus had shown Brezhnev socialism and the US neoliberalism are never as far apart as people imagined

Highly recommended!
May 23, 2020 | discussion.theguardian.com

Comment edited for clarity

Bolsheviks put ideology above and before the people needs; Neoliberals put capital above people. Neoliberals are the next-worst thing after Boslheviks (although nobody can match Bolsheviks as for excesses including Stalin terror) .

That's why both now in the USA and in the USSR before the dissolution we have a lot of "death of despair" That said, why would anybody trust neolibral pols ?

twiglette , 11 Apr 2019 05:13

Coronavirus had shown Brezhnev socialism and the US neoliberalism were never as far apart as people imagined. Two sides of a coin. A theological dispute.

[May 23, 2020] Neoliberal ideology is often presented as a natural state. This deception is a central feature of neoliberalism, acting as a way of abdicating responsibility for harmful and selfish actions of financial oligarchy, and to prevent challenges to the financial oligarchy rule and debt slavery

May 23, 2020 | discussion.theguardian.com

hartebeest , 10 Apr 2019 18:42

Back in the Thatcher/Reagan years there were at people around who genuinely believed in the superiority of the market, or at least, made the effort to set out an intellectual case for it.

Now we're in a different era. After 2008, hardly anyone really believes in neoliberal ideas anymore, not to the point that they'd openly make the case for them anyway. But while different visions have appeared to some extent on both left and right, most of those in positions of power and influence have so internalised Thatcher's 'there is no alternative' that it's beyond their political horizons to treat any alternatives which do emerge as serious propositions, let alone come up with their own.

So neoliberalism stumbles on almost as a reflex action. Ben Fine calls it a 'zombie' but I think the better analogy is cannibalism. Unlike the privatisations of the 80s and 90s there's barely any pretence these days that new sell-offs are anything more than simply part of a quest to find new avenues for profit-making in an economy with tons of liquid capital but not enough places to profitability put it. Because structurally speaking most of the economy is tapped out.

Privatising public services at this point is just a way to asset strip and/or funnel public revenue streams to a private sector which has been stuck in neoliberal short-term, low skill, low productivity, low wage, high debt mode for so long that it has lost the ability to grow. So now it is eating itself, or at least eating the structures which hold it up and allow it to survive.

Apomorph -> GeorgeMonbiot , 10 Apr 2019 18:19
Right-wing ideology is often presented as a natural state and not ideological at all. This denial is a central feature, acting as a way of abdicating responsibility for harmful and selfish actions and providing means of fostering intellectual suspicion to prevent challenges or structured and coherent critiques like your own. The right engenders coalitions of people disinterested in politics and distrustful of politicians with those who feel intellectually superior but see politics as an amoral game in the pursuit of "enlightened" self-interest.

As a result, everything about it is disingenous. There is no alternative (that we want you to choose). It's not racist to (constantly, always negatively and to the expense of everything else) talk about immigration. Cutting taxes for the rich reduces inequality (because we change the criteria to exclude the richest from the calculations). This is also because there are dualities at play. Neoliberalism relies on immigration to increase worker competition and suppress wage demand but courts the xenophobic vote (which is why even with reduced EU migration Brexit has so far increased overall immigration and would continue to do so in the event of no deal or May's deal). Both Remainers and Leavers have accused the other of being a neoliberal project, and in certain aspects -because of these dualities - both sides are correct.

I also believe the disdain for "political correctness" is somewhat a result of neoliberalism, since marketisation is so fundamental to the project and the wedge of the market is advertising, the language of bullshit and manipulation. People railing against political correctness feel judged for their automatic thoughts that they identify as natural instead of culturally determined. Behavioural advertising encourages these thoughts and suppresses consideration. It is a recipe for resentment.

[May 23, 2020] Who are serfs

Money quote: ""Public-service workers are now subjected to a panoptical regime of monitoring and assessment, using the benchmarks von Mises rightly warned were inapplicable and absurd." -- that's definition of a serf -- a neoliberal serf
I feel a lot of people just use the term neoliberalism as a term of a specific abuse of labor via debt slavery. .
May 23, 2020 | discussion.theguardian.com

TenTribesofTexas , 11 Apr 2019 01:15

2 simple points that epitomize neo liberalism.

1. Hayek's book 'The Road to Serfdom' uses an erroneous metaphor. He argues that if we allow gov regulation, services and spending to continue then we will end up serfs. However, serfs are basically the indentured or slave labourers of private citizens and landowners not of the state. Only in a system of private capital can there be serfs. Neo liberalism creates serfs not a public system.

2. According to Hayek all regulation on business should be eliminated and only labour should be regulated to make it cheap and contain it so that private investors can have their returns guaranteed. Hence the purpose of the state is to pass laws to suppress workers.

These two things illustrate neo-liberalism. Deception and repression of labour.

marshwren , 10 Apr 2019 22:29
As a matter of semantics, neo-liberalism delivered on the promise of freedom...for capitalists to be free of ethical accountability, social responsibility, and government regulation and taxes. And people can't understand why i'm a socialist.

[May 23, 2020] Neoliberalism promised freedom instead it delivers stifling control by George Monbiot

Highly recommended!
From comments: " neoliberalism to be a techno-economic order of control, requiring a state apparatus to enforce wholly artificial directives. Also, the work of recent critics of data markets such as Shoshana Zuboff has shown capitalism to be evolving into a totalitarian system of control through cybernetic data aggregation."
"... By rolling back the state, neoliberalism was supposed to have allowed autonomy and creativity to flourish. Instead, it has delivered a semi-privatised authoritarianism more oppressive than the system it replaced. ..."
"... Workers find themselves enmeshed in a Kafkaesque bureaucracy , centrally controlled and micromanaged. Organisations that depend on a cooperative ethic – such as schools and hospitals – are stripped down, hectored and forced to conform to suffocating diktats. The introduction of private capital into public services – that would herald a glorious new age of choice and openness – is brutally enforced. The doctrine promises diversity and freedom but demands conformity and silence. ..."
"... Their problem is that neoliberal theology, as well as seeking to roll back the state, insists that collective bargaining and other forms of worker power be eliminated (in the name of freedom, of course). So the marketisation and semi-privatisation of public services became not so much a means of pursuing efficiency as an instrument of control. ..."
"... Public-service workers are now subjected to a panoptical regime of monitoring and assessment, using the benchmarks von Mises rightly warned were inapplicable and absurd. The bureaucratic quantification of public administration goes far beyond an attempt at discerning efficacy. It has become an end in itself. ..."
Notable quotes:
"... By rolling back the state, neoliberalism was supposed to have allowed autonomy and creativity to flourish. Instead, it has delivered a semi-privatised authoritarianism more oppressive than the system it replaced. ..."
"... Workers find themselves enmeshed in a Kafkaesque bureaucracy , centrally controlled and micromanaged. Organisations that depend on a cooperative ethic – such as schools and hospitals – are stripped down, hectored and forced to conform to suffocating diktats. The introduction of private capital into public services – that would herald a glorious new age of choice and openness – is brutally enforced. The doctrine promises diversity and freedom but demands conformity and silence. ..."
"... Their problem is that neoliberal theology, as well as seeking to roll back the state, insists that collective bargaining and other forms of worker power be eliminated (in the name of freedom, of course). So the marketisation and semi-privatisation of public services became not so much a means of pursuing efficiency as an instrument of control. ..."
"... Public-service workers are now subjected to a panoptical regime of monitoring and assessment, using the benchmarks von Mises rightly warned were inapplicable and absurd. The bureaucratic quantification of public administration goes far beyond an attempt at discerning efficacy. It has become an end in itself. ..."
"... The other point to be made is that the return of fundamentalist nationalism is arguably a radicalized form of neoliberalism. ..."
"... Therefore, neoliberal hegemony can only be perpetuated with authoritarian, nationalist ideologies and an order of market feudalism. In other words, neoliberalism's authoritarian orientations, previously effaced beneath discourses of egalitarian free-enterprise, become overt. ..."
"... The market is no longer an enabler of private enterprise, but something more like a medieval religion, conferring ultimate authority on a demagogue. Individual entrepreneurs collectivise into a 'people' serving a market which has become synonymous with nationhood. ..."
Apr 10, 2019 | www.theguardian.com

Thousands of people march through London to protest against underfunding and privatisation of the NHS. Photograph: Wiktor Szymanowicz/Barcroft Images M y life was saved last year by the Churchill Hospital in Oxford, through a skilful procedure to remove a cancer from my body . Now I will need another operation, to remove my jaw from the floor. I've just learned what was happening at the hospital while I was being treated. On the surface, it ran smoothly. Underneath, unknown to me, was fury and tumult. Many of the staff had objected to a decision by the National Health Service to privatise the hospital's cancer scanning . They complained that the scanners the private company was offering were less sensitive than the hospital's own machines. Privatisation, they said, would put patients at risk. In response, as the Guardian revealed last week , NHS England threatened to sue the hospital for libel if its staff continued to criticise the decision.

The dominant system of political thought in this country, which produced both the creeping privatisation of public health services and this astonishing attempt to stifle free speech, promised to save us from dehumanising bureaucracy. By rolling back the state, neoliberalism was supposed to have allowed autonomy and creativity to flourish. Instead, it has delivered a semi-privatised authoritarianism more oppressive than the system it replaced.

Workers find themselves enmeshed in a Kafkaesque bureaucracy , centrally controlled and micromanaged. Organisations that depend on a cooperative ethic – such as schools and hospitals – are stripped down, hectored and forced to conform to suffocating diktats. The introduction of private capital into public services – that would herald a glorious new age of choice and openness – is brutally enforced. The doctrine promises diversity and freedom but demands conformity and silence.

Much of the theory behind these transformations arises from the work of Ludwig von Mises. In his book Bureaucracy , published in 1944, he argued that there could be no accommodation between capitalism and socialism. The creation of the National Health Service in the UK, the New Deal in the US and other experiments in social democracy would lead inexorably to the bureaucratic totalitarianism of the Soviet Union and Nazi Germany.

He recognised that some state bureaucracy was inevitable; there were certain functions that could not be discharged without it. But unless the role of the state is minimised – confined to defence, security, taxation, customs and not much else – workers would be reduced to cogs "in a vast bureaucratic machine", deprived of initiative and free will.

By contrast, those who labour within an "unhampered capitalist system" are "free men", whose liberty is guaranteed by "an economic democracy in which every penny gives a right to vote". He forgot to add that some people, in his capitalist utopia, have more votes than others. And those votes become a source of power.

His ideas, alongside the writings of Friedrich Hayek , Milton Friedman and other neoliberal thinkers, have been applied in this country by Margaret Thatcher, David Cameron, Theresa May and, to an alarming extent, Tony Blair. All of those have attempted to privatise or marketise public services in the name of freedom and efficiency, but they keep hitting the same snag: democracy. People want essential services to remain public, and they are right to do so.

If you hand public services to private companies, either you create a private monopoly, which can use its dominance to extract wealth and shape the system to serve its own needs – or you introduce competition, creating an incoherent, fragmented service characterised by the institutional failure you can see every day on our railways. We're not idiots, even if we are treated as such. We know what the profit motive does to public services.

So successive governments decided that if they could not privatise our core services outright, they would subject them to "market discipline". Von Mises repeatedly warned against this approach. "No reform could transform a public office into a sort of private enterprise," he cautioned. The value of public administration "cannot be expressed in terms of money". "Government efficiency and industrial efficiency are entirely different things."

"Intellectual work cannot be measured and valued by mechanical devices." "You cannot 'measure' a doctor according to the time he employs in examining one case." They ignored his warnings.

Their problem is that neoliberal theology, as well as seeking to roll back the state, insists that collective bargaining and other forms of worker power be eliminated (in the name of freedom, of course). So the marketisation and semi-privatisation of public services became not so much a means of pursuing efficiency as an instrument of control.

Public-service workers are now subjected to a panoptical regime of monitoring and assessment, using the benchmarks von Mises rightly warned were inapplicable and absurd. The bureaucratic quantification of public administration goes far beyond an attempt at discerning efficacy. It has become an end in itself.

Its perversities afflict all public services. Schools teach to the test , depriving children of a rounded and useful education. Hospitals manipulate waiting times, shuffling patients from one list to another. Police forces ignore some crimes, reclassify others, and persuade suspects to admit to extra offences to improve their statistics . Universities urge their researchers to write quick and superficial papers , instead of deep monographs, to maximise their scores under the research excellence framework.

As a result, public services become highly inefficient for an obvious reason: the destruction of staff morale. Skilled people, including surgeons whose training costs hundreds of thousands of pounds, resign or retire early because of the stress and misery the system causes. The leakage of talent is a far greater waste than any inefficiencies this quantomania claims to address.

New extremes in the surveillance and control of workers are not, of course, confined to the public sector. Amazon has patented a wristband that can track workers' movements and detect the slightest deviation from protocol. Technologies are used to monitor peoples' keystrokes, language, moods and tone of voice. Some companies have begun to experiment with the micro-chipping of their staff . As the philosopher Byung-Chul Han points out , neoliberal work practices, epitomised by the gig economy, that reclassifies workers as independent contractors, internalise exploitation. "Everyone is a self-exploiting worker in their own enterprise."

The freedom we were promised turns out to be freedom for capital , gained at the expense of human liberty. The system neoliberalism has created is a bureaucracy that tends towards absolutism, produced in the public services by managers mimicking corporate executives, imposing inappropriate and self-defeating efficiency measures, and in the private sector by subjection to faceless technologies that can brook no argument or complaint.

Attempts to resist are met by ever more extreme methods, such as the threatened lawsuit at the Churchill Hospital. Such instruments of control crush autonomy and creativity. It is true that the Soviet bureaucracy von Mises rightly denounced reduced its workers to subjugated drones. But the system his disciples have created is heading the same way.

George Monbiot is a Guardian columnist


Pinkie123 , 12 Apr 2019 03:23

The other point to be made is that the return of fundamentalist nationalism is arguably a radicalized form of neoliberalism. If 'free markets' of enterprising individuals have been tested to destruction, then capitalism is unable to articulate an ideology with which to legitimise itself.

Therefore, neoliberal hegemony can only be perpetuated with authoritarian, nationalist ideologies and an order of market feudalism. In other words, neoliberalism's authoritarian orientations, previously effaced beneath discourses of egalitarian free-enterprise, become overt.

The market is no longer an enabler of private enterprise, but something more like a medieval religion, conferring ultimate authority on a demagogue. Individual entrepreneurs collectivise into a 'people' serving a market which has become synonymous with nationhood.

A corporate state emerges, free of the regulatory fetters of democracy. The final restriction on the market - democracy itself - is removed. There then is no separate market and state, just a totalitarian market state.

glisson , 12 Apr 2019 00:10
This is the best piece of writing on neoliberalism I have ever seen. Look, 'what is in general good and probably most importantly what is in the future good'. Why are we collectively not viewing everything that way? Surely those thoughts should drive us all?
economicalternative -> Pinkie123 , 11 Apr 2019 21:33
Pinkie123: So good to read your understandings of neoliberalism. The political project is the imposition of the all seeing all knowing 'market' on all aspects of human life. This version of the market is an 'information processor'. Speaking of the different idea of the laissez-faire version of market/non market areas and the function of the night watchman state are you aware there are different neoliberalisms? The EU for example runs on the version called 'ordoliberalism'. I understand that this still sees some areas of society as separate from 'the market'?
economicalternative -> ADamnSmith2016 , 11 Apr 2019 21:01
ADamnSmith: Philip Mirowski has discussed this 'under the radar' aspect of neoliberalism. How to impose 'the market' on human affairs - best not to be to explicit about what you are doing. Only recently has some knowledge about the actual neoliberal project been appearing. Most people think of neoliberalism as 'making the rich richer' - just a ramped up version of capitalism. That's how the left has thought of it and they have been ineffective in stopping its implementation.
economicalternative , 11 Apr 2019 20:42
Finally. A writer who can talk about neoliberalism as NOT being a retro version of classical laissez faire liberalism. It is about imposing "The Market" as the sole arbiter of Truth on us all.
Only the 'Market' knows what is true in life - no need for 'democracy' or 'education'. Neoliberals believe - unlike classical liberals with their view of people as rational individuals acting in their own self-interest - people are inherently 'unreliable', stupid. Only entrepreneurs - those close to the market - can know 'the truth' about anything. To succeed we all need to take our cues in life from what the market tells us. Neoliberalism is not about a 'small state'. The state is repurposed to impose the 'all knowing' market on everyone and everything. That is neoliberalism's political project. It is ultimately not about 'economics'.
Pinkie123 , 11 Apr 2019 13:27
The left have been entirely wrong to believe that neoliberalism is a mobilisation of anarchic, 'free' markets. It never was so. Only a few more acute thinkers on the left (Jacques Ranciere, Foucault, Deleuze and, more recently, Mark Fisher, Wendy Brown, Will Davies and David Graeber) have understood neoliberalism to be a techno-economic order of control, requiring a state apparatus to enforce wholly artificial directives. Also, the work of recent critics of data markets such as Shoshana Zuboff has shown capitalism to be evolving into a totalitarian system of control through cybernetic data aggregation.


Only in theory is neoliberalism a form of laissez-faire. Neoliberalism is not a case of the state saying, as it were: 'OK everyone, we'll impose some very broad legal parameters, so we'll make sure the police will turn up if someone breaks into your house; but otherwise we'll hang back and let you do what you want'. Hayek is perfectly clear that a strong state is required to force people to act according to market logic. If left to their own devices, they might collectivise, think up dangerous utopian ideologies, and the next thing you know there would be socialism. This the paradox of neoliberalism as an intellectual critique of government: a socialist state can only be prohibited with an equally strong state. That is, neoliberals are not opposed to a state as such, but to a specifically centrally-planned state based on principles of social justice - a state which, to Hayek's mind, could only end in t totalitarianism. Because concepts of social justice are expressed in language, neoliberals are suspicious of linguistic concepts, regarding them as politically dangerous. Their preference has always been for numbers. Hence, market bureaucracy aims for the quantification of all values - translating the entirety of social reality into metrics, data, objectively measurable price signals. Numbers are safe. The laws of numbers never change. Numbers do not lead to revolutions. Hence, all the audit, performance review and tick-boxing that has been enforced into public institutions serves to render them forever subservient to numerical (market) logic. However, because social institutions are not measurable, attempts to make them so become increasingly mystical and absurd. Administrators manage data that has no relation to reality. Quantitatively unmeasurable things - like happiness or success - are measured, with absurd results.

It should be understood (and I speak above all as a critic of neoliberalism) that neoliberal ideology is not merely a system of class power, but an entire metaphysic, a way of understanding the world that has an emotional hold over people. For any ideology to universalize itself, it must be based on some very powerful ideas. Hayek and Von Mises were Jewish fugitives of Nazism, living through the worst horrors of twentieth-century totalitarianism. There are passages of Hayek's that describe a world operating according to the rules of a benign abstract system that make it sound rather lovely. To understand neoliberalism, we must see that it has an appeal.

However, there is no perfect order of price signals. People do not simply act according to economic self-interest. Therefore, neoliberalism is a utopian political project like any other, requiring the brute power of the state to enforce ideological tenets. With tragic irony, the neoliberal order eventually becomes not dissimilar to the totalitarian regimes that Hayek railed against.

manolito22 -> MrJoe , 11 Apr 2019 08:14
Nationalised rail in the UK was under-funded and 'set up to fail' in its latter phase to make privatisation seem like an attractive prospect. I have travelled by train under both nationalisation and privatisation and the latter has been an unmitigated disaster in my experience. Under privatisation, public services are run for the benefit of shareholders and CEO's, rather than customers and citizens and under the opaque shroud of undemocratic 'commercial confidentiality'.
Galluses , 11 Apr 2019 07:26
What has been very noticeable about the development of bureaucracy in the public and private spheres over the last 40 years (since Thatcher govt of 79) has been the way systems are designed now to place responsibility and culpability on the workers delivering the services - Teachers, Nurses, social workers, etc. While those making the policies, passing the laws, overseeing the regulations- viz. the people 'at the top', now no longer take the rap when something goes wrong- they may be the Captain of their particular ship, but the responsibility now rests with the man sweeping the decks. Instead they are covered by tying up in knots those teachers etc. having to fill in endless check lists and reports, which have as much use as clicking 'yes' one has understood those long legal terms provided by software companies.... yet are legally binding. So how the hell do we get out of this mess? By us as individuals uniting through unions or whatever and saying NO. No to your dumb educational directives, No to your cruel welfare policies, No to your stupid NHS mismanagement.... there would be a lot of No's but eventually we could say collectively 'Yes I did the right thing'.
fairshares -> rjb04tony , 11 Apr 2019 07:17
'The left wing dialogue about neoliberalism used to be that it was the Wild West and that anything goes. Now apparently it's a machine of mass control.'

It is the Wild West and anything goes for the corporate entities, and a machine of control of the masses. Hence the wish of neoliberals to remove legislation that protects workers and consumers.

[May 22, 2020] It is easy for chickenhawks to scream war war war but when their lives or their kid's lives on the line of fire most will ran away to Canada or Mexico

May 22, 2020 | www.moonofalabama.org

milomilo , May 23 2020 0:24 utc | 44

@vk , hilarious post trying to potray modern day USN as fhe same one who fought japanese.. after WW2 all USN did was doing tag with soviets and today even their skill lost in the current situation.. The good ole US navy is gone, all that left is aging airframes and ships and confused doctrine that focused on clearing endless brush fires from restless natives..

USN are not able to fight peer enemy naval force, its man power are not sustainable in such fight , thus they will resort to military draft system again and pray tell how many foolish ignorant gung ho flag waving american would enlist ? it is easy for chickenhawks to scream war war war but when their lives or their kid's lives on the line of fire most will ran away to canada or mexico

[May 21, 2020] The neoliberal globalization myth fostered the delusion of labour in which Western societies could prosper from the ideas and computer startups, while the dirty work of actually making things is left to low-wage countries. One result: a drastic shortage of face masks

Notable quotes:
"... In France, confinement has been generally well accepted as necessary, but that does not mean people are content with the government -- on the contrary. Every evening at eight, people go to their windows to cheer for health workers and others doing essential tasks, but the applause is not for President Macron. ..."
"... What we have witnessed is the failure of what used to be one of the very best public health services in the world. It has been degraded by years of cost-cutting. In recent years, the number of hospital beds per capita has declined steadily. Many hospitals have been shut down and those that remain are drastically understaffed. Public hospital facilities have been reduced to a state of perpetual saturation, so that when a new epidemic comes along, on top of all the other usual illnesses, there is simply not the capacity to deal with it all at once. ..."
"... The neoliberal globalization myth fostered the delusion that advanced Western societies could prosper from their superior brains, thanks to ideas and computer startups, while the dirty work of actually making things is left to low-wage countries. One result: a drastic shortage of face masks. The government let a factory that produced masks and other surgical equipment be sold off and shut down. Having outsourced its textile industry, France had no immediate way to produce the masks it needed. ..."
"... In late March, French media reported that a large stock of masks ordered and paid for by the southeastern region of France was virtually hijacked on the tarmac of a Chinese airport by Americans, who tripled the price and had the cargo flown to the United States. There are also reports of Polish and Czech airport authorities intercepting Chinese or Russian shipments of masks intended for hard-hit Italy and keeping them for their own use. ..."
"... The Covid–19 crisis makes it just that much clearer that the European Union is no more than a complex economic arrangement, with neither the sentiment nor the popular leaders that hold together a nation. For a generation, schools, media, politicians have instilled the belief that the "nation" is an obsolete entity. But in a crisis, people find that they are in France, or Germany, or Italy, or Belgium -- but not in "Europe." The European Union is structured to care about trade, investment, competition, debt, economic growth. Public health is merely an economic indicator. For decades, the European Commission has put irresistible pressure on nations to reduce the costs of their public health facilities in order to open competition for contracts to the private sector -- which is international by nature. ..."
"... Scapegoating China may seem the way to try to hold the declining Western world together, even as Europeans' long-standing admiration for America turns to dismay. ..."
"... The countries that have suffered most from the epidemic are among the most indebted of the EU member states, starting with Italy. The economic damage from the lockdown obliges them to borrow further. As their debt increases, so do interest rates charged by commercial banks. They turned to the EU for help, for instance by issuing eurobonds that would share the debt at lower interest rates. This has increased tension between debtor countries in the south and creditor countries in the north, which said nein . Countries in the eurozone cannot borrow from the European Central Bank as the U.S. Treasury borrows from the Fed. And their own national central banks take orders from the ECB, which controls the euro. ..."
"... The great irony is that "a common currency" was conceived by its sponsors as the key to European unity. On the contrary, the euro has a polarizing effect -- with Greece at the bottom and Germany at the top. And Italy sinking. But Italy is much bigger than Greece and won't go quietly. ..."
"... A major paradox is that the left and the Yellow Vests call for economic and social policies that are impossible under EU rules, and yet many on the left shy away from even thinking of leaving the EU. For over a generation, the French left has made an imaginary "social Europe" the center of its utopian ambitions. ..."
"... Russia is a living part of European history and culture. Its exclusion is totally unnatural and artificial. Brzezinski [the late Zbigniew Brzezinski, the Carter administration's national security adviser] spelled it out in The Great Chessboard : The U.S. maintains world hegemony by keeping the Eurasian landmass divided. ..."
"... But this policy can be seen to be inherited from the British. It was Churchill who proclaimed -- in fact welcomed -- the Iron Curtain that kept continental Europe divided. In retrospect, the Cold War was basically part of the divide-and-rule strategy, since it persists with greater intensity than ever after its ostensible cause -- the Communist threat -- is long gone. ..."
"... The whole Ukrainian operation of 2014 [the U.S.–cultivated coup in Kyiv, February 2014] was lavishly financed and stimulated by the United States in order to create a new conflict with Russia. Joe Biden has been the Deep State's main front man in turning Ukraine into an American satellite, used as a battering ram to weaken Russia and destroy its natural trade and cultural relations with Western Europe. ..."
"... I think France is likelier than Germany to break with the U.S.–imposed Russophobia simply because, thanks to de Gaulle, France is not quite as thoroughly under U.S. occupation. Moreover, friendship with Russia is a traditional French balance against German domination -- which is currently being felt and resented. ..."
"... "Decades of indoctrination in the ideology of "Europe" has instilled the belief that the nation-state is a bad thing of the past. The result is that people raised in the European Union faith tend to regard any suggestion of return to national sovereignty as a fatal step toward fascism. This fear of contagion from "the right" is an obstacle to clear analysis which weakens the left and favors the right, which dares be patriotic." ..."
"... Since WWII the US has itself been occupied by tyrants, using Russophobia to demand power as fake defenders. ..."
"... " French philosophy .By constantly attacking, deconstructing, and denouncing every remnant of human "power" they could spot, the intellectual rebels left the power of "the markets" unimpeded, and did nothing to stand in the way of the expansion of U.S. military power all around the world " ..."
"... From her groundbreaking work on the NATO empire's sickening war on sovereign Serbia, the dead end of identity politics and trans bathroom debates, to her critique of unfettered immigration and open borders, and her dismissal of the absurd Russsiagate baloney, better than anyone else, Johnstone has kept her intellect carefully honed to the real genuine kitchen table bread and butter issues that truly matter. She recognized before most of the world's scholars the perils of rampant inequality and saw the writing on the wall as to where this grotesque economic system is taking us all: down a dystopian slope into penury and police-state heavy-handedness, with millions unable to come up with $500 for an emergency car repair or dental bill. ..."
"... The mask competition and fiasco shows the importance of a country simply making things in their own country, not on the other side of the world, it's not nationalism it's just a better way to logistically deliver reliable products to the citizens. ..."
"... Some hold that they never departed, but mutated tools including CFA zones and "intelligence" relations in furtherance of "changing" to remain qualitatively the same. Just as "The United States of America" is a system of coercive relations not synonymous with the political geographical area designated "The United States of America", the colonialism of former and present "colonial powers" continues to exist, since the "independence" of the colonised was always, and continues to be, framed within linear systems of coercive relations, facilitated by the complicity of "local elites" on the basis of perceived self-interest, and the acquiescence of "local others" for myriad reasons. ..."
"... After reading Circle in the Darkness, I have ordered and am now reading her books on Hillary Clinton (Queen of Chaos) and the Yugoslav wars (Fool's Crusade), which are very worthwhile and important. I would recommend that her many articles over the years, appearing in such publications such as In These Times, Counterpunch and Consortium News, be reprinted and published together as an anthology. Through Circle in the Darkness, we have Diana Johnstone's "Life", but it would be good also to have her "Letters". ..."
"... Mr. de Gaulle like other "leaders" of colonial powers did understand that the moment of overt coercive relations of colonialism had passed and that colonialism to remain qualitatively the same, required covert coercive relations facilitated by the complicity of local "elites" on the basis of perceived self-interest. ..."
May 21, 2020 | consortiumnews.com

In France, confinement has been generally well accepted as necessary, but that does not mean people are content with the government -- on the contrary. Every evening at eight, people go to their windows to cheer for health workers and others doing essential tasks, but the applause is not for President Macron.

Macron and his government are criticized for hesitating too long to confine the population, for vacillating about the need for masks and tests, or about when or how much to end the confinement. Their confusion and indecision at least defend them from the wild accusation of having staged the whole thing in order to lock up the population.

What we have witnessed is the failure of what used to be one of the very best public health services in the world. It has been degraded by years of cost-cutting. In recent years, the number of hospital beds per capita has declined steadily. Many hospitals have been shut down and those that remain are drastically understaffed. Public hospital facilities have been reduced to a state of perpetual saturation, so that when a new epidemic comes along, on top of all the other usual illnesses, there is simply not the capacity to deal with it all at once.

The neoliberal globalization myth fostered the delusion that advanced Western societies could prosper from their superior brains, thanks to ideas and computer startups, while the dirty work of actually making things is left to low-wage countries. One result: a drastic shortage of face masks. The government let a factory that produced masks and other surgical equipment be sold off and shut down. Having outsourced its textile industry, France had no immediate way to produce the masks it needed.

Meanwhile, in early April, Vietnam donated hundreds of thousands of antimicrobial face masks to European countries and is producing them by the million. Employing tests and selective isolation, Vietnam has fought off the epidemic with only a few hundred cases and no deaths.

You must have thoughts as to the question of Western unity in response to Covid–19.

In late March, French media reported that a large stock of masks ordered and paid for by the southeastern region of France was virtually hijacked on the tarmac of a Chinese airport by Americans, who tripled the price and had the cargo flown to the United States. There are also reports of Polish and Czech airport authorities intercepting Chinese or Russian shipments of masks intended for hard-hit Italy and keeping them for their own use.

The absence of European solidarity has been shockingly clear. Better-equipped Germany banned exports of masks to Italy. In the depth of its crisis, Italy found that the German and Dutch governments were mainly concerned with making sure Italy pays its debts. Meanwhile, a team of Chinese experts arrived in Rome to help Italy with its Covid–19 crisis, displaying a banner reading "We are waves of the same sea, leaves of the same tree, flowers of the same garden." The European institutions lack such humanistic poetry. Their founding value is not solidarity but the neoliberal principle of "free unimpeded competition."

How do you think this reflects on the European Union?

The Covid–19 crisis makes it just that much clearer that the European Union is no more than a complex economic arrangement, with neither the sentiment nor the popular leaders that hold together a nation. For a generation, schools, media, politicians have instilled the belief that the "nation" is an obsolete entity. But in a crisis, people find that they are in France, or Germany, or Italy, or Belgium -- but not in "Europe." The European Union is structured to care about trade, investment, competition, debt, economic growth. Public health is merely an economic indicator. For decades, the European Commission has put irresistible pressure on nations to reduce the costs of their public health facilities in order to open competition for contracts to the private sector -- which is international by nature.

Globalization has hastened the spread of the pandemic, but it has not strengthened internationalist solidarity. Initial gratitude for Chinese aid is being brutally opposed by European Atlanticists. In early May, Mathias Döpfner, CEO of the Springer publishing giant, bluntly called on Germany to ally with the U.S. -- against China. Scapegoating China may seem the way to try to hold the declining Western world together, even as Europeans' long-standing admiration for America turns to dismay.

Meanwhile, relations between EU member states have never been worse. In Italy and to a greater extent in France, the coronavirus crisis has enforced growing disillusion with the European Union and an ill-defined desire to restore national sovereignty.

Corollary question: What are the prospects that Europe will produce leaders capable of seizing that right moment, that assertion of independence? What do you reckon such leaders would be like?

The EU is likely to be a central issue in the near future, but this issue can be exploited in very different ways, depending on which leaders get hold of it. The coronavirus crisis has intensified the centrifugal forces already undermining the European Union. The countries that have suffered most from the epidemic are among the most indebted of the EU member states, starting with Italy. The economic damage from the lockdown obliges them to borrow further. As their debt increases, so do interest rates charged by commercial banks. They turned to the EU for help, for instance by issuing eurobonds that would share the debt at lower interest rates. This has increased tension between debtor countries in the south and creditor countries in the north, which said nein . Countries in the eurozone cannot borrow from the European Central Bank as the U.S. Treasury borrows from the Fed. And their own national central banks take orders from the ECB, which controls the euro.

What does the crisis mean for the euro? I confess I've lost faith in this project, given how disadvantaged it leaves the nations on the Continent's southern rim.

The great irony is that "a common currency" was conceived by its sponsors as the key to European unity. On the contrary, the euro has a polarizing effect -- with Greece at the bottom and Germany at the top. And Italy sinking. But Italy is much bigger than Greece and won't go quietly.

The German constitutional court in Karlsruhe recently issued a long judgment making it clear who is boss. It recalled and insisted that Germany agreed to the euro only on the grounds that the main mission of the European Central Bank was to fight inflation, and that it could not directly finance member states. If these rules were not followed, the Bundesbank, the German central bank, would be obliged to pull out of the ECB. And since the Bundesbank is the ECB's main creditor, that is that. There can be no generous financial help to troubled governments within the eurozone. Period.

Is there a possibility of disintegration here?

The idea of leaving the EU is most developed in France. The Union Populaire Républicaine, founded in 2007 by former senior functionary François Asselineau, calls for France to leave the euro, the European Union, and NATO.

The party has been a didactic success, spreading its ideas and attracting around 20,000 active militants without scoring any electoral success. A main argument for leaving the EU is to escape from the constraints of EU competition rules in order to protect its vital industry, agriculture, and above all its public services.

A major paradox is that the left and the Yellow Vests call for economic and social policies that are impossible under EU rules, and yet many on the left shy away from even thinking of leaving the EU. For over a generation, the French left has made an imaginary "social Europe" the center of its utopian ambitions.

" Europe" as an idea or an ideal, you mean.

Decades of indoctrination in the ideology of "Europe" has instilled the belief that the nation-state is a bad thing of the past. The result is that people raised in the European Union faith tend to regard any suggestion of return to national sovereignty as a fatal step toward fascism. This fear of contagion from "the right" is an obstacle to clear analysis which weakens the left and favors the right, which dares be patriotic.

Two and a half months of coronavirus crisis have brought to light a factor that makes any predictions about future leaders even more problematic. That factor is a widespread distrust and rejection of all established authority. This makes rational political programs extremely difficult, because rejection of one authority implies acceptance of another. For instance, the way to liberate public services and pharmaceuticals from the distortions of the profit motive is nationalization. If you distrust the power of one as much as the other, there is nowhere to go.

Such radical distrust can be explained by two main factors -- the inevitable feeling of helplessness in our technologically advanced world, combined with the deliberate and even transparent lies on the part of mainstream politicians and media. But it sets the stage for the emergence of manipulated saviors or opportunistic charlatans every bit as deceptive as the leaders we already have, or even more so. I hope these irrational tendencies are less pronounced in France than in some other countries.

I'm eager to talk about Russia. There are signs that relations with Russia are another source of European dissatisfaction as "junior partners" within the U.S.–led Atlantic alliance. Macron is outspoken on this point, "junior partners" being his phrase. The Germans -- business people, some senior officials in government -- are quite plainly restive.

Russia is a living part of European history and culture. Its exclusion is totally unnatural and artificial. Brzezinski [the late Zbigniew Brzezinski, the Carter administration's national security adviser] spelled it out in The Great Chessboard : The U.S. maintains world hegemony by keeping the Eurasian landmass divided.

But this policy can be seen to be inherited from the British. It was Churchill who proclaimed -- in fact welcomed -- the Iron Curtain that kept continental Europe divided. In retrospect, the Cold War was basically part of the divide-and-rule strategy, since it persists with greater intensity than ever after its ostensible cause -- the Communist threat -- is long gone.

I hadn't put our current circumstance in this context. US-backed, violent coup in Ukraine, 2014.

The whole Ukrainian operation of 2014 [the U.S.–cultivated coup in Kyiv, February 2014] was lavishly financed and stimulated by the United States in order to create a new conflict with Russia. Joe Biden has been the Deep State's main front man in turning Ukraine into an American satellite, used as a battering ram to weaken Russia and destroy its natural trade and cultural relations with Western Europe.

U.S. sanctions are particularly contrary to German business interests, and NATO's aggressive gestures put Germany on the front lines of an eventual war.

But Germany has been an occupied country -- militarily and politically -- for 75 years, and I suspect that many German political leaders (usually vetted by Washington) have learned to fit their projects into U.S. policies. I think that under the cover of Atlantic loyalty, there are some frustrated imperialists lurking in the German establishment, who think they can use Washington's Russophobia as an instrument to make a comeback as a world military power.

But I also think that the political debate in Germany is overwhelmingly hypocritical, with concrete aims veiled by fake issues such as human rights and, of course, devotion to Israel.

We should remember that the U.S. does not merely use its allies -- its allies, or rather their leaders, figure they are using the U.S. for some purposes of their own.

What about what the French have been saying since the G–7 session in Biarritz two years ago, that Europe should forge its own relations with Russia according to Europe's interests, not America's?

At G7 Summit in Biarritz, France, Aug. 26, 2019. (White House)

I think France is likelier than Germany to break with the U.S.–imposed Russophobia simply because, thanks to de Gaulle, France is not quite as thoroughly under U.S. occupation. Moreover, friendship with Russia is a traditional French balance against German domination -- which is currently being felt and resented.

Stepping back for a broader look, do you think Europe's position on the western flank of the Eurasian landmass will inevitably shape its position with regard not only to Russia but also China? To put this another way, is Europe destined to become an independent pole of power in the course of this century, standing between West and East?

At present, what we have standing between West and East is not Europe but Russia, and what matters is which way Russia leans. Including Russia, Europe might become an independent pole of power. The U.S. is currently doing everything to prevent this. But there is a school of strategic thought in Washington which considers this a mistake, because it pushes Russia into the arms of China. This school is in the ascendant with the campaign to denounce China as responsible for the pandemic. As mentioned, the Atlanticists in Europe are leaping into the anti–China propaganda battle. But they are not displaying any particular affection for Russia, which shows no sign of sacrificing its partnership with China for the unreliable Europeans.

If Russia were allowed to become a friendly bridge between China and Europe, the U.S. would be obliged to abandon its pretensions of world hegemony. But we are far from that peaceful prospect.

Patrick Lawrence, a correspondent abroad for many years, chiefly for the International Herald Tribune , is a columnist, essayist, author and lecturer. His most recent book is "Time No Longer: Americans After the American Century" (Yale). Follow him on Twitter @thefloutist . His web site is Patrick Lawrence . Support his work via his Patreon site .


Josep , May 19, 2020 at 02:04

It recalled and insisted that Germany agreed to the euro only on the grounds that the main mission of the European Central Bank was to fight inflation, and that it could not directly finance member states.

I once read a comment elsewhere saying that, back in 1989, both Britain (under Margaret Thatcher) and the US objected to German reunification. Since they could not stop the reunification, they insisted that Germany accept the incoming euro. A heap of German university professors jumped up and protested, knowing fully well what the game was: namely the creation of a banker's empire in Europe controlled by private bankers.

Thorben Sunkimat , May 20, 2020 at 13:45

France and Britain rejected the german reunification. The americans were supportive, even though they had their demands. Mainly privatisation of german public utilities. After agreeing to those demands the americans persuaded the british and pressured the french who agreed to german reunification after germany agreed to the euro.

So why did france want the euro?

The German central bank crashed the European economy after reunification with high interest rates. This was because of above average growth rates mainly in Eastern Germany. Main function of the Bundesbank is to keep inflation low, which is more important to them than anything else. Since Germany's D Mark was the leading currency in Europe the rest of Europe had to heighten their interest rates too, witch lead to great economic problems within Europe. Including France.

OlyaPola , May 21, 2020 at 05:30

"namely the creation of a banker's empire in Europe controlled by private bankers."

Resort to binaries (controlled/not controlled) is a practice of self-imposed blindness. In any interactive system no absolutes exist only analogues of varying assays since "control" is limited and variable. In respect of what became the German Empire this relationship predated and facilitated the German Empire through financing the war with Denmark in 1864 courtesy of the arrangements between Mr. von Bismark and Mr. Bleichroder. The assay of "control of bankers" has varied/increased subsequently but never attained the absolute.

It is true that finance capital perceived and continues to perceive the European Union as an opportunity to increase their assay of "control" – the Austrian banks in conjunction with German bank assigning a level of priority to resurrecting spheres of influence existing prior to 1918 and until 1945.

One of the joint projects at a level of planning in the early 1990's was development of the Danube and its hinterland from Regensburg to Cerna Voda/Constanta in Romania but this was delayed in the hope of curtailment by some when NATO bombed Serbia in 1999 (Serbia not being the only target – so much for honesty-amongst-theives.)

This project was resurrected in a limited form primarily downstream from Vidin/Calafat from 2015 onwards given that some states of the former Yugoslavia were not members of the European Union and some were within spheres of influence of "The United States of America".

As to France, "Vichy" and Europa also facilitated the resurrection of finance capital and increase in its assay of control after the 1930's, some of the practices of the 1940's still being subject to dispute in France.

mkb29 , May 18, 2020 at 16:33

I've always admired Diana Johnstone's clear headed analyses of world/European/U.S./ China/Israel-Palestine/Russia/ interactions and the motivation of its "players". She has given some credence to what as been known as French rationalism and enlightenment. (Albeit as an American expat) Think Descartes, Diderot, Sartre , and She loves France in her own rationalist-humanist way.

Linda J , May 18, 2020 at 13:21

I have admired Ms. Johnstone's work for quite awhile. This enlightening interview spurs me to get a copy of the book and to contribute to Consortium News.

Others may be interested in the two-part video discovered yesterday featuring Douglas Valentine's analysis of the CIA's corporate backers and their global choke-hold on governments and their influencers in every region of the world.

Part 1
see:youtu(dot)be/cP15Ehx1yvI

Part 2
see:youtu(dot)be/IYvvEn_N1sE

worldblee , May 18, 2020 at 12:26

Not many have the long distance perspective on the world, let alone Europe, that Diana Johnstone has. Great interview!

Drew Hunkins , May 18, 2020 at 11:03

"Decades of indoctrination in the ideology of "Europe" has instilled the belief that the nation-state is a bad thing of the past. The result is that people raised in the European Union faith tend to regard any suggestion of return to national sovereignty as a fatal step toward fascism. This fear of contagion from "the right" is an obstacle to clear analysis which weakens the left and favors the right, which dares be patriotic."

Bingo! A marvelous point indeed! Quick little example -- Bernard Sanders should have worn an American flag pin on his suit during the 2020 Dem primary campaign.

chris , May 18, 2020 at 04:46

A very good analysis. As an American who has relocated to Spain several years ago, I am always disappointed that discussions of European politics always assume that Europe ends at the Pyrenees. Admittedly, Spanish politics is very complicated and confusing. Forty years of an unreconstructed dictatorship have left their mark, but the country´s socialist, communist and anarchic currents never went away. I like to say that the country is very conservative, but at least the population is aware of what is going on.

Perhaps what Ms. Johnston says about the French being just worn out, with no stomach for more violent conflict also applies to the Spanish since their great ideological struggle is more recent. The American influence during the Transition (which changed little – as the expression goes: The same dog but with a different collar) was very strong, and remains so. Even so, there is popular support for foreign and domestic policies independent of American and neoliberal control, but by and large the political and economic powers are not on board. I do not think Spain is willing to make a break alone, but would align itself with an European shift away from American control.

As Ms. Johnston says, Europe currently lacks leaders willing to take the plunge, but we will see what the coming year brings.

Sam F , May 17, 2020 at 17:45

Thank you Diana, these are valuable insights. Since WWII the US has itself been occupied by tyrants, using Russophobia to demand power as fake defenders.

1. Waving the flag and praising the lord on mass media, claiming concern with human rights and "Israel"; while
2. Subverting the Constitution with large scale bribery, surveillance, and genocides, all business as usual nowadays.
In the US, the form of government has become bribery and marketing lies; it truly knows no other way.

It may be better that Russia and China keep their distance from the US and maybe even the EU:
1. The US and EU would have to produce what they consume, eventually empowering workers;
2. Neither the US nor EU are a political or economic model for anyone, and should be ignored;
3. Neither the US nor EU produces much that Russia and China cannot, by investing more in cars and soybeans.

It will be best for the EU if it also rejects the US and its "neolib" economic and political tyranny mechanisms:
1. Alliance with Russia and China will cause substantial gains in stability and economic strength;
2. Forcing the US to abandon its "pretensions of world hegemony" will soon yield more peaceful prospects; and
3. Isolating the US will force it to improve its utterly corrupt government and society, maybe 40 to 60 years hence.

Drew Hunkins , May 17, 2020 at 15:40

" French philosophy .By constantly attacking, deconstructing, and denouncing every remnant of human "power" they could spot, the intellectual rebels left the power of "the markets" unimpeded, and did nothing to stand in the way of the expansion of U.S. military power all around the world "

Brilliant. Exactly right. This was the progenitor to our contemporary I.D. politics which seems to be solely obsessed with vocabulary, semantics and non-economic cultural issues while rarely having a critique of corporate capitalism, militarism, massive inequality and Zionism. And it almost never advocates for robust economic populist proposals like Med4All, U.B.I., debt jubilee, and the fight for $15.

Drew Hunkins , May 17, 2020 at 15:10

The book is phenomenal. I posted a customer review over on Amazon for this stupendous work. Below is a copy of my review:

(5 stars) One of the most important intellects pens her magisterial lasting legacy
Reviewed in the United States on March 31, 2020

Johnstone's been an idol of mine ever since I started reading her in the 1990s. She's clearly proved her worthiness over the decades by bucking the mainstream trend of apologetics for corporate capitalism, neoliberalism, globalism and imperialistic militarism her entire career and this astonishing memoir details it all in what will likely be the finest book of 2020 and perhaps the entire decade.

Her writing style is beyond superb, her grasp of the overarching politico-socio-economic issues that have rocked the world over the past 60 years is as astute and spot-on as you will find from any global thinker. She's right up there with Michael Parenti, James Petras, John Pilger and Noam Chomsky as seminal figures who have documented and brought light to tens of thousands (millions?) of people across the globe via their writings, interviews and speaking engagements.

Johnstone has never been one to shy away from controversial topics and issues. Why? Simple, she has the facts and truth on her side, she always has. Circle in the Darkness proves all this and more, she marshals the documentation and lays it out as an exquisite gift for struggling working people around the world.

From her groundbreaking work on the NATO empire's sickening war on sovereign Serbia, the dead end of identity politics and trans bathroom debates, to her critique of unfettered immigration and open borders, and her dismissal of the absurd Russsiagate baloney, better than anyone else, Johnstone has kept her intellect carefully honed to the real genuine kitchen table bread and butter issues that truly matter. She recognized before most of the world's scholars the perils of rampant inequality and saw the writing on the wall as to where this grotesque economic system is taking us all: down a dystopian slope into penury and police-state heavy-handedness, with millions unable to come up with $500 for an emergency car repair or dental bill.

Whenever she comes out with a new article or essay I immediately drop everything and devour it, often reading it twice to let her wisdom really soak in. So too Circle of Darkness is an extremely well written beautiful work that will scream out to be re-read every few years by those with a hunger to know exactly what was going on since the Korean War era through today regarding liberal thought, neocon and neoliberal dominance with its capitalist global hegemony and the take over of Western governments by the parasitic financial elite.

There will never be another Diana Johnstone. Circle in the Darkness will stand as her lasting legacy to all of us.

Bob Van Noy , May 17, 2020 at 14:43

"As our circle of knowledge expands, so does the circumference of darkness surrounding it" ~Albert Einstein

Many Thanks CN, Patrick Lawrence, and Joe Lauria. Once again I must commend CN for picking just the appropriate response to our contemporary dilemma.

The quote above leads Diana Johnstone's new book and succinctly describes both the universe and our contemporary experience with our digital age. President Kennedy and Charles de Gaulle of France would agree that colonialism was past and that a new world (geopolitical) approach would become necessary, but that philosophy would put them against some great local and world powers. Each of them necessarily had different approaches as to how this might be accomplished. They were never allowed to present their specific proposals on a world stage. Let's hope a wiser population will once again "see" this possibility and find a way to resolve it

Aaron , May 17, 2020 at 14:18

Well over the span of all of those decades, the consistent, inexorable theme seems to be a trend of the rich getting richer and the poor getting poorer, a small number of individuals, not really states, gaining wealth and power, so everybody else fights over the crumbs, blaming this or that party, alliance, event or whatever, but behind it all there are two flower gardens, indeed the rich are all flowers of their golden garden, and the poor are all flowers of their garden.

It's like the Europeans and the 99 percent in America have all fallen for the myth of the American dream, that if we are just allowed more free, unfettered economic opportunity, it's just up to us to pick ourselves up by the bootstraps and become a billionaire.

The mask competition and fiasco shows the importance of a country simply making things in their own country, not on the other side of the world, it's not nationalism it's just a better way to logistically deliver reliable products to the citizens.

AnneR , May 17, 2020 at 13:42

Regarding French colonialism – as I recall the French were especially brutal in their forced withdrawal from Algeria, both toward Algerians in their homeland and to Algerians within France itself.

And the French were hardly willing, non-violent colonialists when being fought by the Vietnamese who wanted to be free of them (quite rightly so).

As for the French in Sub-Saharan Africa – they have yet to truly give up on their presumed right to have troops within these countries. They did not depart any of their colonies happily, willingly – like every other colonial power, including the UK.

And, as for WWII – she seems, in her reminiscences, to have mislaid Vichy France, the Velodrome roundups of French Jews, and so on ..

Ms Johnstone clearly has been looking backwards with rose-tinted specs on when it comes to France.

Randal Marlin , May 18, 2020 at 13:00

There may be some truth to AnneR's claim that Ms Johnstone has been looking with rose-tinted specs when it comes to France, but it is highly misleading for her to talk about "the French" regarding Algeria. I spent 1963-64 in Aix-en-Provence teaching at the Institute for American Universities and talked with some of the "pieds-noirs," (French born in Algeria).

After French President Charles de Gaulle decided to relinquish French control over Algeria, having previously reassured the colonial population that "Je vous ai compris" ("I have understood you"), there followed death threats to many French colonizers who had to flee Algeria immediately within 24 hours or get their throats slit – "La valise ou le cercueil" (the suitcase or the coffin).

In the fall of 1961, I saw Parisian police stations with machine-gun armed men behind concrete barriers, as an invasion by the colonial French paratroopers against mainland France was expected. The "Organisation Armée Secrète," OAS, (Secret Armed Organization) of the colonial powers, threatened at the time to invade Paris.

As an aside, giving a sense of the anger and passion involved, when the death of John F.Kennedy in November 1963 was announced in the historic, right-wing café in Aix, Les Deux Garçons, a huge cheer went up when the media announcer proclaimed "Le Président est assassinée. Only, that was because they thought de Gaulle was the president in question. A huge disappointment when they heard it was President Kennedy. To get a sense of the whole situation regarding France and Algeria I recommend Alistair Horne's "A Savage War of Peace."

OlyaPola , May 19, 2020 at 11:23

"They did not depart any of their colonies happily"

Some hold that they never departed, but mutated tools including CFA zones and "intelligence" relations in furtherance of "changing" to remain qualitatively the same. Just as "The United States of America" is a system of coercive relations not synonymous with the political geographical area designated "The United States of America", the colonialism of former and present "colonial powers" continues to exist, since the "independence" of the colonised was always, and continues to be, framed within linear systems of coercive relations, facilitated by the complicity of "local elites" on the basis of perceived self-interest, and the acquiescence of "local others" for myriad reasons.

Despite the "best" efforts of the opponents and partly in consequence of the opponents' complicity, the PRC and the Russian Federation like "The United States of America" are not synonymous with the political geographical areas designated as "The People's Republic of China and The Russian Federation", are in lateral process of transcending linear systems of coercive relations and hence pose existential threats to "The United States of America".

The opponents are not complete fools but the drowning tend to act precipitously including flailing out whilst drowning; encouraging some to dispense with rose- tinted glasses, despite such accessories being quite fashionable and fetching.

OlyaPola , May 20, 2020 at 04:32

" .. their colonies "

Perception of and practice of social relations are not wholly synonymous. A construct whose founding myths included liberty, egality and fraternity – property being discarded at the last moment since it was judged too provocative – experienced/experiences ideological/perceptual oxymorons in regard to its colonial relations, which were addressed in part by rendering their "colonies" department of France thereby facilitating increased perceptual dissonance.

Like many, Randal Marlin draws attention below to the perceptions and practices of the pied-noir, but omits to address the perceptions and practices of the harkis whom were also immersed in the proselytised notion of departmental France, and to some degree continue to be.

This understanding continues to inform the practices and problems of the French state.

Lolita , May 17, 2020 at 12:05

The analysis is very much inspired from "Comprendre l'Empire" by Alain Soral.

Dave , May 17, 2020 at 11:27

Do not fail to read this interview in its entirety. Ms Johnstone analyzes and describes many issues of national and global importance from the perspective of an USA expat who has spent most of her career in the pursuit of what may be termed disinterested journalism. Whether one agrees or disagrees in whole or in part the perspectives she presents, particularly those which pertain to the demise (hopefully) of the American Empire are worthy of perusal.

Remember that this is not a polemic; it's a memoir of a lifetime devoted to reporting and analyzing and discussion of most of the significant issues confronting global and national politics and their social ramifications. And a big thanks to Patrick Lawrence and Consortium News for posting the interview.

PEG , May 17, 2020 at 09:11

Diana Johnstone is one of the most intelligent, clear-minded and honest observers of international politics today, and her book "Circle in the Darkness" – which expands on the topics and insights touched on in this interview – is certainly among the best and most compelling books I have ever read, putting the events of the last 75 years into objective context and focus (normally something which only historians can do, if at all, generations after the fact).

After reading Circle in the Darkness, I have ordered and am now reading her books on Hillary Clinton (Queen of Chaos) and the Yugoslav wars (Fool's Crusade), which are very worthwhile and important. I would recommend that her many articles over the years, appearing in such publications such as In These Times, Counterpunch and Consortium News, be reprinted and published together as an anthology. Through Circle in the Darkness, we have Diana Johnstone's "Life", but it would be good also to have her "Letters".

Herman , May 17, 2020 at 09:00

Interesting comparison between the aspirations of De Gaulle and Putin.

"Having a sense of history, de Gaulle saw that colonialism had been a moment in history that was past. His policy was to foster friendly relations on equal terms with all parts of the world, regardless of ideological differences. I think that Putin's concept of a multipolar world is similar. It is clearly a concept that horrifies the exceptionalists."

Agree with Johnstone.

OlyaPola , May 19, 2020 at 11:55

"Having a sense of history, de Gaulle saw that colonialism had been a moment in history that was past. "

Mr. de Gaulle like other "leaders" of colonial powers did understand that the moment of overt coercive relations of colonialism had passed and that colonialism to remain qualitatively the same, required covert coercive relations facilitated by the complicity of local "elites" on the basis of perceived self-interest.

The exceptions to such strategies lay within constructs of settler colonialism which were addressed primarily through warfare – "The United States of America", Vietnam/Laos/Cambodia, Indonesia, Algeria, Kenya, Rhodesia, Mozambique, Angola refer – to facilitate such future strategies.

"I think that Putin's concept of a multipolar world is similar."

As outlined elsewhere the concept of a multi-polar world is not synonymous with the concept of colonialism except for the colonialists who consistently seek to encourage such conflation through myths of we-are-all-in-this-togetherness.

[May 21, 2020] Covid-19 Straw Breaks Free Trade Camel's Back

Notable quotes:
"... After claiming that "economists have argued for centuries that trade is good for the economy as a whole", Goldberg has also noted that "trade generates winners and losers", with many losing out, and urges acknowledging "the evidence rather than trying to discredit it, as some do." Following Samuelson and others, she recommends compensating those negatively effected by trade liberalization, claiming "sufficient gains generated by open trade that the winners can compensate the losers and still be better off" without indicating how this is to be done fairly. ..."
"... "Free" trade means removing regulations and tariffs. As Michael Hudson reminds us, in Classical economics, it used to mean free of the unproductive burdens of the rentiers. ..."
"... There's a growing realisation on our continent that outsiders aren't going to lead us to the promised land. ..."
"... This redistribution never happens, the rich get richer in a role reversal of "I'll gladly pay you Tuesday for a hamburger today". Any attempt to have the rich share the hamburger is greeted with a "not now!" and a assurance that if the rich stop continuously getting richer at this particular point in time then everything will collapse. ..."
"... The best understanding of what is going on in Africa I got from Jared Diamond – book, "Collapse: How Societies Choose to Fail or Succeed". And for background – "Guns, Germs, and Steel". Global climate heating is going to destroy Africa, already is. The usual story, no water, no forests, too much heat and humidity. It's a terrible reckoning. And largely not of their making. ..."
May 20, 2020 | www.nakedcapitalism.com

By Jomo Kwame Sundaram, a former economics professor, who was Assistant Director-General for Economic and Social Development, Food and Agriculture Organization, and who received the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought in 2007. Originally published by Inter Press Service

Economic growth is supposed to be the tide that lifts all boats. According to the conventional wisdom until recently, growth in China, India and East Asian countries took off thanks to opening up to international trade and investment.

Such growth is said to have greatly reduced poverty despite growing inequality in both sub-continental economies and many other countries. Other developing countries have been urged to do the same, i.e., liberalize trade and attract foreign investments.

Doha Round 'Dead in Water'

However, multilateral trade negotiations under World Trade Organization (WTO) auspices have gone nowhere since the late 1990s, even with the so-called Doha Development Round begun in 2001 as developing countries rallied to support the US after 9/11.

After the North continued to push their interests despite their ostensible commitment to a developmental outcome, the Obama administration was never interested in completing the Round, and undermined the WTO's functioning, e.g., its dispute settlement arrangements, even before Trump was elected.

To be sure, the Doha Round proposals were hardly 'developmental' by any standards, with most developing countries barely benefitting, if not actually worse off following the measures envisaged, even according to World Bank and other studies.

GVC miracle?

According to the World Bank's annual flagship World Development Report (WDR) 2020 on Trading for Development in the Age of Global Value Chains , GVCs have been mainly responsible for the growth of international trade for two decades from the 1990s.

GVCs now account for almost half of all cross-border commerce due to 'multiple counting', as products cross more borders than ever. Firms' creative book-keeping may also overstate actual value added in some tax jurisdictions to minimize overall tax liability.

WDR 2020 claims that GVCs have thus accelerated economic development and even convergence between North and South as fast-growing poor countries have grown more rapidly, closing the economic gap with rich countries.

Automation, innovative management, e.g., 'just-in-time' (JIT), outsourcing, offshoring and logistics have dramatically transformed production . Labour processes are subject to greater surveillance, while piecework at home means self-policing and use of unpaid household labour.

WDR 2020 Out of Touch

WDR 2020 presumes trends that no longer exist. Trade expansion has been sluggish for more than a decade, at least since the 2008 global financial crisis when the G20 of the world's largest economies and others adopted protective measures in response.

GVC growth has slowed since, as economies of the North insisted on trade liberalization for the South, while abandoning their own earlier commitments as the varied consequences of economic globalization fostered reactionary jingoist populist backlashes.

Meanwhile, new technologies involving mechanization, automation and other digital applications have further reduced overall demand for labour even as jobs were 'off-shored'. Trump-initiated trade policies and conflicts have pressured US and other transnational corporations to 'on-shore' jobs after decades of 'off-shoring' .

Nonetheless, WDR 2020 urges developing countries to bank on GVCs for growth and better jobs. Success of this strategy depends crucially on developed countries encouraging 'offshoring', a policy hardly evident for well over a decade!

As the last World Bank chief economist , albeit for barely 15 months, Yale Professor Pinelopi Koujianou Goldberg recently agreed , "the world is retreating from globalization". "Protectionism is on the rise -- industrialized countries are less open to imports from developing countries. In addition, there is by now a lot of competition".

The Covid-19 crisis has further encouraged 'on-shoring' and 'chain shortening', especially for food, medical products and energy. Although the Japanese and other governments have announced such policies, ostensibly for 'national security' and other such reasons, Goldberg has nonetheless reiterated the case for GVCs in Covid-19's wake .

Trade Does Not Lift All Boats

After claiming that "economists have argued for centuries that trade is good for the economy as a whole", Goldberg has also noted that "trade generates winners and losers", with many losing out, and urges acknowledging "the evidence rather than trying to discredit it, as some do." Following Samuelson and others, she recommends compensating those negatively effected by trade liberalization, claiming "sufficient gains generated by open trade that the winners can compensate the losers and still be better off" without indicating how this is to be done fairly.

Compensation and redistribution require transfers which are typically difficult to negotiate and deliver at low cost. Tellingly, like others, she makes no mention of international transfers, especially for fairly redistributing the unequal gains from trade among trading partners.

Interestingly, she also observes, "There are plenty of examples, especially in African countries, where wealth is concentrated in the hands of a few even when the tide rises, only very few boats rise. Growth doesn't trickle down and doesn't improve the lot of the poor."

Unlikely Pan-Africanist

After decades of World Bank promotion of the 'East Asian miracle' for emulation by other developing countries, especially in Africa, Greek-born American Goldberg insists that what worked for growth and poverty reduction in China will not work in Africa today.

Echoing long time Bank critics, she argues, "If trade with rich countries is no longer the engine of growth, it will be more important than ever to rely on domestic resources to generate growth that does trickle down and translates to poverty reduction."

Instead, as if supporting some contemporary pan-Africanists, she argues, "Africa needs to rely on itself more than ever. The idea that export-led industrialization as it happened in China or East Asia is going to lead growth in Africa becomes less and less plausible".

She argues that "the African market is a very large market with incredible potential. It has not been developed yet. So, regional integration might be one path forward. Rather than opting for global integration, which may be very hard to achieve these days when countries are retreating from multilateralism, it might be more feasible to push for regional trade agreements and create bigger regional markets for countries' goods and services".

Acknowledging "We are still a very long way from there because most countries are averse to this idea -- they see their neighbors as competitors rather than countries they can cooperate with", not seeming to recognize the historical role of the Bank and mainstream trade economists in promoting the 'free trade illusion' and discrediting pan-Africanism.


chuck roast , May 20, 2020 at 9:01 am

hear him, and hear him
Econospeak at its best. Filled with cliches and "on the one hand(s)." This articles perfectly describes why social distancing can ultimately be a boon to mankind. This fellow Sundaram can self isolate at home and still get a paycheck. He can begin puttering about in his garden and start growing his own food. Eventually, he will find this activity to be far more rewarding than cogitating on the various cost and benefits of the international value chains, and will be spending more and more time in his garden. UBI will kick in. He will decide to disengage from "globalization" and being a public nuisance and adopt this new, socially beneficial lifestyle permanently. By doing "piecework at home" he will add to real gross domestic product, and he, the economy and the rest of the planet will be immeasurably improved.

The Historian , May 20, 2020 at 10:49 am

Good analysis. But part of my confusion with this article started with the headline: "Covid-19 Straw Breaks Free Trade Camel's Back"

What free trade? Nothing in the article discusses free trade and I doubt that there has ever been free trade for a very long time. Is this more Econospeak?

I do agree with the author that the way trading is done now, however he defines it, has not risen all boats.

Amfortas the hippie , May 20, 2020 at 1:33 pm

Regarding the existence of "Free Trade"
I watched this in real time when Nafta passed(i was agin it, and voted for Perot accordingly, both times)
I knew a middle class mexican american guy father of a friend of mine. His business, pre-Nafta, was going to his extended familia's ranch/farm(100 acres) in Tamaulipas, and returning with fruits and veggies and vanilla and a whole bunch of "junk" like that metal yard art and terra cotta birdbaths and such.
had a dually pickup and a 20 foot trailer.
Post Nafta, this was suddenly illegal he wasn't part of the Club, and went to work as a cook along side me and his son.
since that time, I've heard essentially the same story from numerous mexican american folks who used to do similar stuff.
nafta killed that small time cross border trade and the only "Freedom" involved was for the Maquiladora-owners, US Welfare Corn Corporations and the Cartels.
anecdata, of course, but still
if "they" were really for "free trade", they'd allow me to legally sell a frelling egg or tomato or grow some weed, for that matter(high demand, low quality unstable supply).

Susan the other , May 20, 2020 at 2:24 pm

I voted for ross perot too. I even went across the street and talked to my neighbors – the last time I did that – as they always say, it's like staring into the eyes of a chicken – oh so "liberal" at the time – To them Ross Perot was just an insufferable hick. But I loved the guy. And he was right. I think he lived in the same neighborhood as little George in Dallas – but Ross didn't want us to spread our resources too thin whereas little George saw MidEast oil as our best security. So now that that has blown up, it's regionalism v. globalism. It's a brake on turbo trade. It's not a fix. We don't want to be lulled into thinking we've achieved something like a trade balance and an environmental balance – that will take a century – and only if we stop fibbing to ourselves.

Bsoder , May 20, 2020 at 3:28 pm

I worked for Ross, for a while post GM (1987). I liked him very much, although we fought quite a bit. Mostly, I agreed with his public policy outlook, when I didn't and it came up I told him. He didn't surround himself with the wights that the Orange Menace does. Striking -he was very loyal to people in his orbit. NAFTA had protections for labor, unions, & the environment they just never were enforced. There must be some 'law' that says anything neoliberal turns into a racket over time, so it was with NAFTA.

Left in Wisconsin , May 20, 2020 at 4:53 pm

The NAFTA protections for workers were just hand waves. Lance Compa, who is at Cornell, ran the US office trying to get the labor provisions (weak as they were) enforced. As I recall, they were never able to bring even a single case forward.

Adam Eran , May 20, 2020 at 2:32 pm

"Free" trade means removing regulations and tariffs. As Michael Hudson reminds us, in Classical economics, it used to mean free of the unproductive burdens of the rentiers.

As for NAFTA, one might figure shipping a bunch of subsidized Iowa corn down to Mexico would impair the income of Mexican farmers.. The NAFTA treaty compensates the big ones.

Corn is only arguably the most important food crop in the world. The little (uncompensated by NAFTA) Mexican farmers were only keeping the disease resistance and diversity of the corn genome alive with the varieties they grew .But they weren't making any money for Monsanto So they were hung out to dry and migration to "Gringolandia" increased dramatically not all of it "legal."

In the wake of NAFTA, not only did Mexico experience capital flight (remember the Clinton administration's $20 billion bank bailout?), Mexico's real median income declined 34%. (Source: Ravi Batra's Greenspan's Fraud ).

One has to go back to the Great Depression to find that kind of decline in the U.S. Of course that provoked no great migration Oh wait! The Okies!

Imagine the Okies exiting the dust bowl to go to California where they would be caged, separated from their families, and ultimately shipped back to Oklahoma, where they would either be very miserable or even starve. That's what we've been doing to the Mexican refugees U.S. actions created never mind the fact that U.S. military and political attacks on its southern neighbors have been going on for literally centuries. (Between 1798 and 1994, the U.S. is responsible for 41 changes of government south of its borders).

Incidentally, the Harvard-educated neoliberal, Carlos Salinas Gotari, the Mexican president who signed NAFTA, was so despised he had to spend at least the initial years of his retirement in Ireland.

It's not for nothing that the guys who stand up to the Yanquis (Castro!) are heroes in the South.

taunger , May 20, 2020 at 6:47 am

It's amazing how economists can focus solely on economic activity, and the thought that something like climate change or politics might make their pronouncements useless isn't even rebutted.

John Wright , May 20, 2020 at 11:54 am

This reference: https://www.scientificamerican.com/article/why-co2-isnt-falling-more-during-a-global-lockdown/

Has that one of the Covid-19 lockdown effects has been a fall in expected incremental CO2 added to the atmosphere in 2020 relative to 2019:

"Forecasters expect emissions to fall more than 5% in 2020, the greatest annual reduction on record. But it's still short of the 7.6% decline that scientists say is needed every year over the next decade to stop global temperatures from rising more than 1.5 degrees Celsius.*.

Yes, the earth's climate is one of the uncompensated losers of the world's current system of economic growth.

Economists seem to be forever optimizing for the GDP measure, while giving lip service to "uncompensated losers" such as workers and the earth's climate.

TomDority , May 20, 2020 at 8:16 am

Me, being a cynic and all – I thought the way trade worked in the real world (not the one described by well paid economists) was a multi step process

1) target developing country by undermining their core farming, self sustaining activity and export industries through cheap importation of grains and crops and other goods – thus making it impossible for locals to survive through their own industry

2) simultaneous loans (investment) to the country (economic aid) and corruption of political leaders designed to enable step three

3) Whence said country is indebted – force country to export whatever (mineral) wealth onto a glutted market to pay back its debts – this is easily done as the labor component is ripe for the picking/ fleecing

4) crush the country into economic austerity for as long as it takes to enslave its citizens and grab everything of value from the country

5) pretend that the IMF etc did such a great job – but the countries people (victims) or government did not do enough and must take care of themselves better

The Rev Kev , May 20, 2020 at 9:58 am

I think that you covered the Standard Operation Procedure here in better detail than I could. I would only add to point 2) that the bankers will go to these local leaders and show them how to hide their money and help them set up accounts in a place like the Caymans as part of the service.

And if that economist wants to find where all of Africa's wealth is going, he might want to start in the City of London and New York first.

David , May 20, 2020 at 8:43 am

I share the general sense of confusion. I'm not quite sure what the point of this essay is. It's full of wild generalisations like:
"According to the conventional wisdom until recently, growth in China, India and East Asian countries took off thanks to opening up to international trade and investment."
I don't think that's ever been conventional wisdom for Japan, Korea and China, for example, whose economies were (and in part still are) highly protected. Industrialisation in those countries was not "export-led".
It also confuses "trade" in the old sense, of countries importing things they couldn't produce and exporting what they could, with "trade" in the new sense of moving stuff around the world largely for financial reasons. Trade in the classic sense may have benefited the country as a whole (though this is debatable) but trade in the current sense was never intended to. Likewise I hadn't heard that globalisation had fostered a "jingoist backlash" – jingoism after all means aggressive calls for war. But then the whole article is clumsily written and badly constructed.
And the idea that Africa should rely on itself is fair enough, but runs counter to every piece of advice given to Africa since independence: remember, the World Bank master plan was for African countries to grow cash-crops for export to generate cash for industrial development? We know how that worked out. And yes the African market has enormous potential but it's desperately lacking in infrastructure, which makes trade between eve adjacent nations desperately difficult. You need to fix that first.

Thuto , May 20, 2020 at 4:37 pm

There's a growing realisation on our continent that outsiders aren't going to lead us to the promised land. The obstacles to effective intra-african trade that you identify will have to be cleared before Africa's potential can be realised, and as an African I have to believe they will be, challenging as that will be.

The overthrow of Omar Al Bashir in Sudan has shown that people in Africa are agitating for real, lasting changing, liberation from the rule of corrupt leaders and true, not pseudo independence from the West and increasingly China as well.

Other leaders have taken notice of this, as have ordinary citizens across the continent. It will take time, ther'll probably be a few false starts, we'll wobble a bit but in the end I believe we'll get there.

a different chris , May 20, 2020 at 9:24 am

"trade generates winners and losers", with many losing out, and urges acknowledging "the evidence rather than trying to discredit it, as some do."

I don't known who "discredits" it.

What I see is that everybody important acknowledges it, but does squat about it. This redistribution never happens, the rich get richer in a role reversal of "I'll gladly pay you Tuesday for a hamburger today". Any attempt to have the rich share the hamburger is greeted with a "not now!" and a assurance that if the rich stop continuously getting richer at this particular point in time then everything will collapse.

The poor, of course, ain't got until this mythical "Tuesday".

HotFlash , May 20, 2020 at 11:23 am

"the African market has enormous potential"

Indeed! Very few Africans have IoT sous-vide sticks yet, or Smart doorbells. I'll bet they are way behind on fast fashion, too. Vast market to sell them things no-one needs and that wreck the earth on credit . Just gotta get those roads built so Jeff can deliver stuff to them in 2 days.

Bsoder , May 20, 2020 at 3:39 pm

The best understanding of what is going on in Africa I got from Jared Diamond – book, "Collapse: How Societies Choose to Fail or Succeed". And for background – "Guns, Germs, and Steel". Global climate heating is going to destroy Africa, already is. The usual story, no water, no forests, too much heat and humidity. It's a terrible reckoning. And largely not of their making.

[May 21, 2020] How free trade actually works

May 21, 2020 | www.nakedcapitalism.com

TomDority , , May 20, 2020 at 8:16 am

Me, being a cynic and all – I thought the way trade worked in the real world (not the one described by well paid economists) was a multi step process

1) target developing country by undermining their core farming, self sustaining activity and export industries through cheap importation of grains and crops and other goods – thus making it impossible for locals to survive through their own industry

2) simultaneous loans (investment) to the country (economic aid) and corruption of political leaders designed to enable step three

3) Whence said country is indebted – force country to export whatever (mineral) wealth onto a glutted market to pay back its debts – this is easily done as the labor component is ripe for the picking/ fleecing

4) crush the country into economic austerity for as long as it takes to enslave its citizens and grab everything of value from the country

5) pretend that the IMF etc did such a great job – but the countries people (victims) or government did not do enough and must take care of themselves better

The Rev Kev , , May 20, 2020 at 9:58 am

I think that you covered the Standard Operation Procedure here in better detail than I could. I would only add to point 2) that the bankers will go to these local leaders and show them how to hide their money and help them set up accounts in a place like the Caymans as part of the service.

And if that economist wants to find where all of Africa's wealth is going, he might want to start in the City of London and New York first.

[May 21, 2020] It is worth reminding of criticism of the untrustworthiness of modern medical science from the editors of some of the top medical journals

Notable quotes:
"... There are some who parrot Big Pharma vested interests in ridiculing and denigrating hydroxychloroquine, despite the very notable positive results several countries such as China, Russia, Iran and Turkey have had with it, while vainly spouting the benefits of smoking despite complete lack of quality research papers supporting it and abundant quality papers against. ..."
"... Research is not created equal. There is good research (some, not so much) and there is bad research (bundles of it), mostly funded by vested interests, who where necessary direct the desired results. In general, research from China and Russia arguably tends to be higher quality and more reliable because those countries place the emphasis on health for society, not on profits for the corporations. ..."
May 21, 2020 | www.moonofalabama.org

BM , May 20 2020 6:17 utc | 146

But with regard to anecdotal/unverified [touch'e] claims of nicotine benefits in covid, one should not reflexively ignore the evidence to the contrary that conflict with one's pro-nicotine bias/belief system:}
"Smokers more likely to express ACE2 protein that SARS-COV-2 uses to enter human cells"
"Tobacco smoking increases lung entry points for COVID-19 virus"
Posted by: gm | May 19 2020 16:13 utc | 129

Touché again gm!

It is indeed desperate grasping at straws to believe that smoking will protect against Covid-19 when far higher quality research clearly indicates increased risk from smoking that the disease will be more severe (the latter also being the more plausible result).

As I commented the last time B raised this issue, there is one genuine effect of a past history of smoking that statistically reduces risk of death from Covid-19 - namely smoking significantly reduces expected lifespan, and therefore reduces the risk of living long enough to reach the highest risk age groups for severe Covid-19. Alternatively expressed - smoking kills you off first before you get a chance to be killed by Covid, if that is what you want. Post-hoc nicotine patches at a late stage deny you even that advantage.

There are some who parrot Big Pharma vested interests in ridiculing and denigrating hydroxychloroquine, despite the very notable positive results several countries such as China, Russia, Iran and Turkey have had with it, while vainly spouting the benefits of smoking despite complete lack of quality research papers supporting it and abundant quality papers against.

At this point it is worth reminding of criticism of the untrustworthiness of modern medical science from the editors of some of the top medical journals:

Skeptical of medical science reports?

"It is simply no longer possible to believe much of the clinical research that is published, or to rely on the judgment of trusted physicians or authoritative medical guidelines. I take no pleasure in this conclusion, which I reached slowly and reluctantly over my two decades as editor of The New England Journal of Medicine"
Angell M. Drug Companies & Doctors: A Story of Corruption. The New York Review of Books magazine.

More recently, Richard Horton, editor of The Lancet, wrote that "The case against science is straightforward: much of the scientific literature, perhaps half, may simply be untrue. Afflicted by studies with small sample sizes, tiny effects, invalid exploratory analyses, and flagrant conflicts of interest, together with an obsession for pursuing fashionable trends of dubious importance, science has taken a turn towards darkness"
Horton R. Offline: What is medicine's 5 sigma? www.thelancet.com.

The first of these two commentaries on clinical research publications appeared in 2009, the second in April of this year. These statements are being taken seriously, coming as they do from the experiences of editors of two of the world's most prestigious medical journals. The first article showed how the relationships between pharmaceutical companies and academic physicians at prestigious universities impacted certain drug-related publications and the marketing of prescription drugs. Potential conflicts of interest seemed to abound: millions of dollars in consulting and speaking fees to physicians who promoted specific drugs, public research dollars being used by a researcher to test a drug owned by a company in which the researcher held millions of dollars in shares, failure of university researchers to disclose income from drug companies, company subsidies to physician continuing education, publishing practice guidelines involving drugs in which the authors have a financial interest, using influential physicians to promote drugs for unapproved uses, bias in favor of a product coming from failure to publish negative results and repeated publication of positive results in different forms. The author, Marcia Angell, cited the case of a drug giant that had to agree to settle charges that it deliberately withheld evidence that its top-selling anti-depressant was ineffective and could be harmful to certain age groups. ...

Richard Horton's statement was part of his comments on a recent symposium on reliability and reproducibility of research in the biomedical sciences and addresses a broader area of concern. Some of the problems he identified are seen in the veterinary literature. They include inadequate number of subjects in the study, poor study design, and potential conflicts of interest. He notes that the quest for journal impact factor is fuelling competition for publication in a few high reputation journals. He warns that "our love of 'significance' pollutes the literature with many a statistical fairy-tale" ...

Research is not created equal. There is good research (some, not so much) and there is bad research (bundles of it), mostly funded by vested interests, who where necessary direct the desired results. In general, research from China and Russia arguably tends to be higher quality and more reliable because those countries place the emphasis on health for society, not on profits for the corporations.

@Flatulus @16 "sources"
Christian Drosten, chief virologist Charité Berlin in his podcast no 31. Available with transcript here.
Posted by: b | May 18 2020 16:42 utc | 32

B, have you looked into the Big Pharma vested interests of Drosten yet? I suggest you do so.

[May 19, 2020] Russophobia in the Age of Donald Trump

Highly recommended!
Russiaphobia as a pathological reaction on the deep crisis of neoliberalism
Notable quotes:
"... The described lack of confidence was reflected in the exaggerated fear that Russia was capable of destroying the West's values. However, Russia and Putin were neither omnipresent nor threatening to destroy the United States' political system. ..."
"... Russia's basic motives remain defensive even when the Kremlin relies on assertive tactics. Russia's assertiveness, even in cyberspace, is of a reactive nature and is a response to US policies. ..."
"... Rather than fighting a full-scale information war with the West, Russia seeks to increase its status and strengthen its bargaining position in relations with the United States. 68 The Kremlin has been proposing to negotiate rules of cooperation in the cyber area since early in the twenty-first century. Motivated by an insistence on "cyber-sovereignty," Russia regularly proposes resolutions at the United Nations to prohibit "information aggression," In a 2011 letter to the United Nations General Assembly, Russia proposed an "International Code of Conduct for Information Security," stipulating that states subscribing to the code would pledge to "not use information and communications technologies and other information and communications networks to interfere with the internal affairs of other states or with the aim of undermining their political, economic and social stability." 69 ..."
"... Overall, what the Kremlin challenges is the United States' post–Cold War behavior that undermines Russia's status as a great power. Although Russia is not in a position to directly challenge the United States and the US-centered international order, the Kremlin hopes to gain external recognition as a great power by relying on low-cost methods and revealing the vulnerability of Western nations. Russia's capabilities and presence in global cyber and media space are limited, and the Kremlin is motivated by asymmetric deployment of its media, information, and cyber power. ..."
May 19, 2020 | www.oxfordscholarship.com
Chapter:
(p.81) 5 Russophobia in the Age of Donald Trump
Source:
The Dark Double
Author(s):
Andrei P. Tsygankov
Publisher:
Oxford University Press
DOI:10.1093/oso/9780190919337.003.0005

Abstract and Keywords

The chapter extends the argument about media and value conflict between Russia and the United States to the age of Donald Trump. The new value conflict is assessed as especially acute and exacerbated by the US partisan divide. The Russia issue became central because it reflected both political partisanship and the growing value division between Trump voters and the liberal establishment. In addition to explaining the new wave of American Russophobia, the chapter analyzes Russia's own role and motives. The media are likely to continue the ideological and largely negative coverage of Russia, especially if Washington and Moscow fail to develop a pragmatic form of cooperation.

Keywords: Russia, Trump, US elections, narrative of collusion, partisan divide

This chapter addresses the new development in the US media perception of the Russian threat following the election of Donald Trump as the United States' president. The election revealed that US national values could no longer be viewed as predominantly liberal and favoring the global promotion of democracy, as supported by Presidents Bill Clinton, George W. Bush, and Barack Obama. During and after the election, the liberal media sought to present Moscow as not only favoring Trump but being responsible for his election and even ruling on behalf of the Kremlin. Those committed to a liberal worldview led the way in criticizing Russia and Putin for assaulting liberal democratic values globally and inside the United States. This chapter argues that the Russia issue became so central in the new internal divide because it reflects both political partisanship and the growing division between the values of Trump voters and those of the liberal establishment. The domestic political struggle has exacerbated the divide. Russia's otherness, again, has highlighted values of "freedom," seeking to preserve the confidence of the liberal self. (p.82)

The Narrative of Trump's "Collusion" with Russia

During the US presidential election campaign, American media developed yet another perception of Russia as reflected in the narrative of Trump's collusion with the Kremlin. 1 Having originated in liberal media and building on the previous perceptions of neo-Soviet autocracy and foreign threat, the new perception of Russia was that of the enemy that won the war against the United States. By electing the Kremlin's favored candidate, America was defeated by Russia. As a CNN columnist wrote, "The Russians really are here, infiltrating every corner of the country, with the single goal of disrupting the American way of life." 2 The two assumptions behind the new media narrative were that Putin was an enemy and that Trump was compromised by Putin. The inevitable conclusion was that Trump could not be a patriot and potentially was a traitor prepared to act against US interests.

The new narrative was assisted by the fact that Trump presented a radically different perspective on Russia than Clinton and the US establishment. The American political class had been in agreement that Russia displayed an aggressive foreign policy seeking to destroy the US-centered international order. Influential politicians, both Republicans and Democrats, commonly referred to Russian president Putin as an extremely dangerous KGB spy with no soul. Instead, Trump saw Russia's international interests as not fundamentally different from America's. He advocated that the United States to find a way to align its policies and priorities in defeating terrorism in the Middle East -- a goal that Russia shared -- with the Kremlin's. Trump promised to form new alliances to "unite the civilized world against Radical Islamic Terrorism" and to eradicate it "completely from the face of the Earth." 3 He hinted that he was prepared to revisit the thorny issues of Western sanctions against (p.83) the Russian economy and the recognition of Crimea as a part of Russia. Trump never commented on Russia's political system but expressed his admiration for Putin's leadership and high level of domestic support. 4

Capitalizing on the difference between Trump's views and those of the Democratic Party nominee, Hillary Clinton, the liberal media referred to Trump as the Kremlin-compromised candidate. Commentators and columnists with the New York Times , such as Paul Krugman, referred to Trump as the "Siberian" candidate. 5 Commentators and pundits, including those with academic and political credentials, developed the theory that the United States was under attack. The former ambassador to Russia, Michael McFaul, wrote in the Washington Post that Russia had attacked "our sovereignty" and continued to "watch us do nothing" because of the partisan divide. He compared the Kremlin's actions with Pearl Harbor or 9/11 and warned that Russia was likely to perform repeat assaults in 2018 and 2020. 6 The historian Timothy Snyder went further, comparing the election of Trump to a loss of war, which Snyder said was the basic aim of the enemy. Writing in the New York Daily News , he asserted, "We no longer need to wonder what it would be like to lose a war on our own territory. We just lost one to Russia, and the consequence was the election of Donald Trump." 7

The election of Trump prompted the liberal media to discuss Russia-related fears. The leading theory was that Trump would now compromise America's interests and rule the country on behalf of Putin. Thomas Friedman of the New York Times called for actions against Russia and praised "patriotic" Republican senators John McCain and Lindsey Graham for being tough on Trump. 8 MSNBC host Rachel Maddow asked whether Trump was actually under Putin's control. Citing Trump's views and his associates' travel to Moscow, she told viewers, "We are also starting to see (p.84) what may be signs of continuing [Russian] influence in our country, not just during the campaign but during the administration -- basically, signs of what could be a continuing operation." 9 Another New York Times columnist, Nicholas Kristof, published a column titled "There's a Smell of Treason in the Air," arguing that the FBI's investigation of the Trump presidential campaign's collusion "with a foreign power so as to win an election" was an investigation of whether such collusion "would amount to treason." 10 Responding to Trump's statement that his phone was tapped during the election campaign, the Washington Post columnist Anne Applebaum tweeted that "Trump's insane 'GCHQ tapped my phone' theory came from . . . Moscow." McFaul and many others then endorsed and retweeted the message. 11

To many within the US media, Trump's lack of interest in promoting global institutions and his publicly expressed doubts that the Kremlin was behind cyberattacks on the Democratic National Committee (DNC) served to exacerbate the problem. Several intelligence leaks to the press and investigations by Congress and the FBI contributed to the image of a president who was not motivated by US interests. The US intelligence report on Russia's alleged hacking of the US electoral system released on January 8, 2017, served to consolidate the image of Russia as an enemy. Leaks to the press have continued throughout Trump's presidency. Someone in the administration informed the press that Trump called Putin to congratulate him on his victory in elections on March 18, 2018, despite Trump's advisers' warning against making such a call. 12

In the meantime, investigations of Trump's alleged "collusion" with Russia were failing to produce substantive evidence. Facts that some associates of Trump sought to meet or met with members of Russia's government did not lead to evidence of sustained contacts or collaboration. It was not proven that the Kremlin's "black dossier" on Trump compiled by British intelligence officer (p.85) Christopher Steele and leaked to CNN was truthful. Russian activity on American social networks such as Facebook and Twitter was not found to be conclusive in determining outcomes of the elections. 13 In February 2018, a year after launching investigation, Special Counsel Robert Mueller indicted thirteen Russian nationals for allegedly interfering in the US 2016 presidential elections, yet their connection to Putin or Trump was not established. On March 12, 2018, Senate Intelligence Committee chairman Richard Burr stated that he had not yet seen any evidence of collusion. 14 Representative Mike Conaway, the Republican leading the Russia investigation, announced the end of the committee's probe of Russian meddling in the election. 15

Trump was also not acting toward Russia in the way the US media expected. His views largely reflected those of the military and national security establishment and disappointed some of his supporters. 16 The US National Security Strategy and new Defense Strategy presented Russia as a leading security threat, alongside China, Iran, and North Korea. The president made it clear that he wanted to engage in tough bargaining with Russia by insisting on American terms. 17 Instead of improving ties with Russia, let alone acting on behalf of the Kremlin, Trump contributed to new crises in bilateral relations that had to do with the two sides' principally different perceptions. While the Kremlin expected Washington to normalize relations, the United States assumed Russia's weakness and expected it to comply with Washington's priorities regarding the Middle East, Ukraine, and Afghanistan and nuclear and cyber issues. 18 Trump also authorized the largest expulsion of Russian diplomats in US history and ordered several missile strikes against Assad's Russia-supported positions in Syria, each time provoking a crisis in relations with Moscow. Even Secretary of State Rex Tillerson, whom Rachel Maddow suspected of being appointed on Putin's advice to "weaken" the State Department and "bleed out" (p.86) the FBI, 19 was replaced by John Bolton. The latter's foreign policy reputation was that of a hawk, including on Russia. 20

Responding to these developments, the media focused on fears of being attacked by the Kremlin and on Trump not doing enough to protect the country. These fears went beyond the alleged cyber interference in the US presidential elections and included infiltration of American media and social networks and attacks on congressional elections and the country's most sensitive infrastructure, such as electric grids, water-processing plants, banking networks, and transportation facilities. In order to prevent such developments, media commentators and editorial writers recommended additional pressures on the Kremlin and counteroffensive operations. 21 One commentator recommended, as the best defense from Russia's plans to interfere with another election in the United States, launching a cyberattack on Russia's own presidential elections in March 2018, to "disrupt the stability of Vladimir Putin's regime." 22 A New York Times editorial summarized the mood by challenging President Trump to confront Russia further: "If Mr. Trump isn't Mr. Putin's lackey, it's past time for him to prove it." 23 The burden of proof was now on Trump's shoulders.

Opposition to the "Collusion" Narrative

In contrast to highly critical views of Russia in the dominant media, conservative, libertarian, and progressive sources offered different assessments. Initially, opposition to the collusion narrative came from the alternative media, yet gradually -- in response to scant evidence of Trump's collusion -- it incorporated voices within the mainstream.

The conservative media did not support the view that Russia "stole" elections and presented Trump as a patriot who wanted to make America great rather than develop "cozy" relationships with (p.87) the Kremlin. Writing in the American Interest , Walter Russell Mead argued that Trump aimed to demonstrate the United States' superiority by capitalizing on its military and technological advantages. He did not sound like a Russian mole. Challenging the liberal media, the author called for "an intellectually solvent and emotionally stable press" and wrote that "if President Trump really is a Putin pawn, his foreign policy will start looking much more like Barack Obama's." 24 Instead of viewing Trump as compromised by the Kremlin, sources such Breitbart and Fox News attributed the blame to the deep state, "the complex of bureaucrats, technocrats, and plutocrats," including the intelligence agencies, that seeks to "derail, or at least to de-legitimize, the Trump presidency" by engaging in accusations and smear campaigns. 25

Echoing Trump's own views, some conservatives expressed their admiration for Putin as a dynamic leader superior to Obama. In particular, they praised Putin for his ability to defend Russia's "traditional values" and great-power status. 26 Neoconservative and paleoconservative publications like the National Review , the Weekly Standard, Human Events Online , and others critiqued Obama's "feckless foreign policy," characterized by "fruitless accommodationism," contrasting it with Putin's skilled and calculative geopolitical "game of chess." 27 A Washington Post / ABC News poll revealed that among Republicans, 75% approved of Trump's approach on Russia relative; 40% of all respondents approved. 28 This did not mean that conservatives and Republicans were "infiltrated" by the Kremlin. Mutual Russian and American conservative influences were limited and nonstructured. 29 The approval of Putin as a leader by American conservatives meant that they shared a certain commonality of ideas and were equally critical of liberal media and globalization. 30

Progressive and libertarian media also did not support the narrative of collusion. Gary Leupp at CounterPunch found the (p.88) narrative to be serving the purpose of reviving and even intensifying "Cold War-era Russophobia," with Russia being an "adversary" "only in that it opposes the expansion of NATO, especially to include Ukraine and Georgia." 31 Justin Raimondo at Antiwar.com questioned the narrative by pointing to Russia's bellicose rhetoric in response to Trump's actions. 32 Glenn Greenwald and Zaid Jilani at Intercept reminded readers that, overall, Trump proved to be far more confrontational toward Russia than Obama, thereby endangering America. 33 In particular Trump severed diplomatic ties with Russia, armed Ukraine, appointed anti-Russia hawks, such as ambassador to the United Nations Nikki Haley, National Security Advisor John Bolton, and Secretary of State Michal Pompeo to key foreign policy positions, antagonized Russia's Iranian allies, and imposed tough sanctions against Russian business with ties to the Kremlin. 34

The dominant liberal media ignored opposing perspectives or presented them as compromised by Russia. For instance, in amplifying the view that Putin "stole" the elections, the Washington Post sought to discredit alternative sources of news and commentaries as infiltrated by the Kremlin's propaganda. On November 24, 2016, the newspaper published an interview with the executive director of a new website, PropOrNot, who preferred to remain anonymous, and claimed that the Russian government circulated pro-Trump articles before the election. Without providing evidence on explaining its methodology, the group identified more than two hundred websites that published or echoed Russian propaganda, including WikiLeaks and the Drudge Report , left-wing websites such as CounterPunch, Truthout, Black Agenda Report, Truthdig , and Naked Capitalism , as well as libertarian venues such as Antiwar.com and the Ron Paul Institute. 35 Another mainstream liberal outlet, CNN, warned the American people to be vigilant against the Kremlin's alleged efforts to spread propaganda: "Enormous numbers of (p.89) Americans are not only failing to fight back, they are also unwitting collaborators -- reading, retweeting, sharing and reacting to Russian propaganda and provocations every day." 36

However, voices of dissent were now heard even in the mainstream media. Masha Gessen of the New Yorker said that Trump's tweet about Robert Mueller's indictments and Moscow's "laughing its ass off" was "unusually (perhaps accidentally) accurate." 37 She pointed out that Russians of all ideological convictions "are remarkably united in finding the American obsession with Russian meddling to be ridiculous." 38 The editor of the influential Politico , Blake Hounshell, confessed that he was a Russiagate skeptic because even though "Trump was all too happy to collude with Putin," Mueller's team never found a "smoking gun." 39 In reviewing the book on Russia's role in the 2016 election Russian Roulette , veteran New York Times reporter Steven Lee Myers noted that the Kremlin's meddling "simply exploited the vulgarity already plaguing American political campaigns" and that the veracity of many accusations remained unclear. 40

Explaining Russophobia

The high-intensity Russophobia within the American media, overblown even by the standards of previous threat narratives, could no longer be explained by differences in national values or by bilateral tensions. The new fear of Russia also reflected domestic political polarization and growing national unease over America's identity and future direction.

The narrative of collusion in the media was symptomatic of America's declining confidence in its own values. Until the intervention in Iraq in 2004, optimism and a sense of confidence prevailed in American social attitudes, having survived even the terrorist attack on the United States on September 11, 2001. The (p.90) country's economy was growing and its position in the world was not challenged. However, the disastrous war in Iraq, the global financial crisis of 2008, and Russia's intervention in Georgia in August 2008 changed that. US leadership could no longer inspire the same respect, and a growing number of countries viewed it as a threat to world peace. 41 Internally, the United States was increasingly divided. Following presidential elections in November 2016, 77% of Americans perceived their country as "greatly divided on the most important values." 42 The value divide had been expressed in partisanship and political polarization long before the 2016 presidential elections. 43 The Russia issue deepened this divide. According to a poll taken in October 2017, 63% of Democrats, but just 38% of Republicans, viewed "Russia's power and influence" as a major threat to the well-being of the United States. 44

During the US 2016 presidential elections, Russia emerged as a convenient way to accentuate differences between Democratic and Republican candidates, which in previous elections were never as pronounced or defining. The new elections deepened the partisan divide because of extreme differences between the two main candidates, particularly on Russia. Donald Trump positioned himself as a radical populist promising to transform US foreign policy and "drain the swamp" in Washington. His position on Russia seemed unusual because, by election time, the Kremlin had challenged the United States' position in the world by annexing Crimea, supporting Ukrainian separatism, and possibly hacking the DNC site.

The Russian issue assisted Clinton in stressing her differences from Trump. Soon after it became known that DNC servers were hacked, she embraced the view that Russia was behind the cyberattacks. She accused Russia of "trying to wreak havoc" in the United States and threatened retaliation. 45 In his turn, Trump used Russia to challenge Clinton's commitment to national security (p.91) and ability to serve as commander in chief. In particular, he drew public attention to the FBI investigation into Clinton's use of a private server for professional correspondence, and even noted sarcastically that the Russians should find thirty thousand missing emails belonging to her. The latter was interpreted by many in liberal media and political circles as a sign of Trump's being unpatriotic. 46 Clinton capitalized on this interpretation. She referred to the issue of hacking as the most important one throughout the campaign and challenged Trump to agree with assessments of intelligence agencies that cyberattacks were ordered by the Kremlin. She questioned Trump's commitments to US national security and accused him of being a "puppet" for President Putin. 47 Following Trump's victory, Clinton told donors that her loss should be partly attributed to Putin and the election hacks directed by him. 48

Clinton's arguments fitted with the overall narrative embraced by the mainstream media since roughly 2005 characterizing Russia as abusive and aggressive. Clinton viewed Russia as an oppressive autocratic power that was aggressive abroad to compensate for domestic weaknesses. Previously, in her book Hard Choices , then-secretary of state Clinton described Putin as "thin-skinned and autocratic, resenting criticism and eventually cracking down on dissent and debate." 49 This view was shared by President Obama, who publicly referred to Russia as a "regional power that is threatening some of its immediate neighbors not out of strength but out of weakness." 50 During the election's campaign, Clinton argued that the United States should challenge Russia by imposing a no-fly zone in Syria with the objective of removing Assad from power, strengthening sanctions against the Russian economy, and providing lethal weapons to Ukraine in order to contain the potential threat of Russia's military invasion.

Following the elections, the partisan divide deepened, with liberal establishment attacking the "unpatriotic" Trump. Having (p.92) lost the election, Clinton partly attributed Trump's victory to the role of Russia and advocated an investigation into Trump's ties to Russia. In February 2017 the Clinton-influenced Center for American Progress brought on a former State Department official to run a new Moscow Project. 51 As acknowledged by the New Yorker , members of the Clinton inner circle believed that the Obama administration deliberately downplayed DNC hacking by the Kremlin. "We understand the bind they were in," one of Clinton's senior advisers said. "But what if Barack Obama had gone to the Oval Office, or the East Room of the White House, and said, 'I'm speaking to you tonight to inform you that the United States is under attack . . .' A large majority of Americans would have sat up and taken notice . . . it is bewildering -- it is baffling -- it is hard to make sense of why this was not a five-alarm fire in the White House." 52

In addition to Clinton, many other members of the Washington establishment, including some Republicans, spread the narrative of Russia "attacking" America. Republican politicians who viewed Clinton's defeat and the hacking attacks in military terms included those of chairman of the Senate Armed Services Committee John McCain, who stated, "When you attack a country, it's an act of war," 53 and former vice president Dick Cheney, who called Russia's alleged interference in the US election "a very serious effort made by Mr. Putin" that "in some quarters that would be considered an act of war." 54 A number of Democrats also engaged in the rhetoric of war, likening the Russian "attack," as Senator Ben Cardin did, to a "political Pearl Harbor." 55

Rumors and leaks, possibly by members of US intelligence agencies, 56 and activities of liberal groups that sought to discredit Trump contributed to the Russophobia. In addition to the DNC hacking accusations, many fears of Russia in the media were based on the assumption that contacts, let alone cooperation with the (p.93) Kremlin, was unpatriotic and implied potentially "compromising" behavior: praise of Putin as a leader, possible business dealings with Russian "oligarchs," and meetings with Russian officials such Ambassador Sergei Kislyak. 57

There were therefore two sides to the Russia story in the US liberal media -- rational and emotional. The rational side had to do with calculations by Clinton-affiliated circles and anti-Russian groups pooling their resources to undermine Trump and his plans to improve relations with Russia. Among others, these resources included dominance within the liberal media and leaks by the intelligence community. The emotional side was revealed by the liberal elites' values and ability to promote fears of Russia within the US political class and the general public. Popular emotions of fear and frustration with Russia already existed in the public space due to the old Cold War memories, as well as disturbing post–Cold War developments that included wars in Chechnya, Georgia, and Ukraine. In part because of these memories, factions such as those associated with Clinton were successful in evoking in the public liberal mind what historian Richard Hofstadter called the "paranoid style" or "the sense of heated exaggeration, suspiciousness, and conspiratorial fantasy." 58 Mobilized by liberal media to pressure Trump, these emotions became an independent factor in the political struggle inside Washington. The public display of fear and frustration with Russia and Trump could only be sustained by a constant supply of new "suspicious" developments and intense discussion by the media.

Russia's Role and Motives

Russia's "attacking" America and Trump's "colluding" with the Kremlin remained poorly substantiated. Taken together, the DNC hacking, Trump's and Putin's mutual praise, and Trump associates' (p.94) contacts with Russian officials implied Kremlin infiltration of the United States' internal politics. Yet viewed separately, each was questionable and unproven. Some of these points could have also been made about Hillary Clinton, who had ties to Russian -- not to mention Saudi Arabian -- business circles and Ukrainian politicians. 59 Political views cannot be counted as evidence. Contacts with Russian officials could have been legitimate exchanges of views about two countries' interests and potential cooperation. Even the CIA- and the FBI-endorsed conclusion that Russia attacked the DNC servers was questioned by some observers on the grounds that forensic evidence was lacking and that it relied too much on findings by one cybersecurity company. 60 In general, discussion of Russia in the US media lacked nuances and a sense of proportion. As Jesse Walker, an editor at Reason magazine and author of The United States of Paranoia , pointed out,

There's a difference between thinking that Moscow may have hacked the Democratic National Committee and thinking that Moscow actually hacked the election, between thinking the president may have Russian conflicts of interest and thinking he's a Russian puppet . . . when someone like the New York Times columnist Paul Krugman declares that Putin "installed" Donald Trump as president, he's moving out of the realm of plausible plots and into the world of fantasy. Similarly, Clinton's warning that Trump could be Putin's "puppet" leaped from an imaginable idea, that Putin wanted to help her rival, to the much more dubious notion that Putin thought he could control the impulsive Trump. (Trump barely seems capable of controlling himself.) 61

The loose and politically tendentious nature of discussions, circulation of questionable leaks and dossiers complied by unidentified (p.95) individuals, and lack of serious evidence led a number of observers to conclude that the Russia story was more about stopping Trump than about Russia. The Russian scandal was symptomatic of the poisonous state of bilateral relations that Democrats exploited for the purpose of derailing Trump. US-Russia relations became a hostage of partisan domestic politics. As one liberal and tough critic of Putin wrote, Democratic lawmakers' rhetoric of war in connection with the 2016 elections "places Republicans -- who often characterize themselves as more hawkish on Russia and defense -- in a bind as they try to defend to the new administration's strategy towards Moscow." 62 Another observer noted that Russiagate performed "a critical function for Trump's political foes," allowing "them to oppose Trump while obscuring key areas where they either share his priorities or have no viable alternative." 63

The described lack of confidence was reflected in the exaggerated fear that Russia was capable of destroying the West's values. However, Russia and Putin were neither omnipresent nor threatening to destroy the United States' political system. A number of analysts, such as Mark Schrad, identified fears of Russia as "increasingly hysterical fantasies" and argued that Russia was not a global menace. 64 If the Kremlin was indeed behind the cyberattacks, it was not for the reasons commonly broached. Rather than trying to subvert the US system, it sought to defend its own system against what it perceived as a US policy of changing regimes and meddling in Russia's internal affairs. The United States has a long history of covert activities in foreign countries. 65 Washington's establishment has never followed the advice given by prominent American statesmen such as George Kennan to let Russians "be Russians" and "work out their internal problems in their own manner." 66 Instead, the United States assumes that America defines the rules and boundaries of proper behavior in international politics, while others must simply follow the rules.

(p.96) Russia's basic motives remain defensive even when the Kremlin relies on assertive tactics. Russia's assertiveness, even in cyberspace, is of a reactive nature and is a response to US policies. Experts observe that Russia's conception of cyber and other informational power serves the overall purpose of protecting national sovereignty from encroachments by the United States. 67 Rather than fighting a full-scale information war with the West, Russia seeks to increase its status and strengthen its bargaining position in relations with the United States. 68 The Kremlin has been proposing to negotiate rules of cooperation in the cyber area since early in the twenty-first century. Motivated by an insistence on "cyber-sovereignty," Russia regularly proposes resolutions at the United Nations to prohibit "information aggression," In a 2011 letter to the United Nations General Assembly, Russia proposed an "International Code of Conduct for Information Security," stipulating that states subscribing to the code would pledge to "not use information and communications technologies and other information and communications networks to interfere with the internal affairs of other states or with the aim of undermining their political, economic and social stability." 69

Overall, what the Kremlin challenges is the United States' post–Cold War behavior that undermines Russia's status as a great power. Although Russia is not in a position to directly challenge the United States and the US-centered international order, the Kremlin hopes to gain external recognition as a great power by relying on low-cost methods and revealing the vulnerability of Western nations. Russia's capabilities and presence in global cyber and media space are limited, and the Kremlin is motivated by asymmetric deployment of its media, information, and cyber power.

[May 15, 2020] The Illusion of 'Free Markets' and 'Free Trade' by George D. O'Neill

There is a cost and "True cost". The latter is often hidden and might higher the the cost.
Notable quotes:
"... The Price Mechanism Theory only works well when there is honest and accurate information to understand the true costs, but our leadership is corrupt and has not been honest with us. In order to protect both American interests and American citizens, it is important to develop mechanisms to fully understand the consequences of many of our policies and who is making them. Who ..."
May 15, 2020 | www.theamericanconservative.com

Our elites have been responding to incentives which are beneficial to their institutions, and China, but detrimental to America.

A shell of a piano in the lobby of the Lee Plaza Hotel. The decades-long decline of the U.S. automobile industry is acutely reflected in the urban decay of Detroit, the city lovingly referred to as Motor City. (Photo by Timothy Fadek/Corbis via Getty Images) George D. O'Neill Jr. We have come to a point in our nation's public discourse where there is a widespread realization that many of the economic policies pursued and promoted by our political, business and media elites have failed us in multiple ways. We have heard our trade policies called "Free Trade" and "Free Market", but those statements were often dishonest.

When crafting these agreements, our elites have been responding to incentives which are beneficial to their institutions but detrimental to the well-being of American citizens.

... ... ...

The same is true for manufacturing businesses. The closing of a factory has huge costs for a neighborhood: unemployed people. Not just those from the factory, but the people who work at companies which supply goods and services to that factory. The consequences of a factory closing cascades through the economy. The tax base for that neighborhood is also eroded, which reduces the community's ability to maintain and deliver essential services and support civic institutions.

We cannot just turn off a factory like a light switch and turn it back on at will when the Chinese decide to raise their prices at a later date.

None of this takes into account the quality of the goods that we receive. We have just become aware that more than 90% of our pharmaceutical antibiotics are manufactured in China. When you hear of the big drug recalls, keep in mind many of them are from China, which is famous for ubiquitous and flagrant corruption as well as a disregard for quality control. Do we really know if our antibiotics are safe?

Now, back to our leadership, which we have relied on to guide our nation. Their incentives often lead them to make choices which do not benefit the American people. The Chinese have famously made generous deals with a sitting vice-president's son and a Secretary of State's stepson that likely insured high level government silence about their predatory practices. The Chinese have purchased important media assets, such as the largest film distribution company in America and inked lucrative media deals with huge media companies to purchase silence about their predatory behavior. The same is true with many other industries.

... ... ...

The Price Mechanism Theory only works well when there is honest and accurate information to understand the true costs, but our leadership is corrupt and has not been honest with us. In order to protect both American interests and American citizens, it is important to develop mechanisms to fully understand the consequences of many of our policies and who is making them. Who is making the decisions is often just as important as what is being decided.

George D. O'Neill, Jr., an artist, is the founder of The Committee for Responsible Foreign Policy and a board member of The American Ideas Institute, the parent of The American Conservative. Mr. O'Neill has been in the mining industry for more than four decades. He and his wife reside in Florida.


Kessler 20 hours ago

Correct. The so called "free markets & trade" worked in conditions after WWII, when US goverment used it's military and political influence to set up favorable economic & trade conditions for US. It's an utopian vision, that has nothing to do with real world.
MPC 19 hours ago • edited
It's important to recognize that it's not realistic to do all manufacturing in America, at least in the short term. We consume too much. Before the virus, we were already running on all cylinders as employment was concerned and have been for a few years.

There is a significant difference however in our trade dependencies being on China, versus Japan, Mexico, Vietnam, or India. The former is a geopolitical rival, the latter are not. In fact, laying groundwork to move more of our trade to the latter builds up China's regional rivals at the expense of China, and at comparatively less expense to us.

It's not healthy for a future multipolar world for such a capable power projector as China to be so disproportionately profiting from declining hegemon America.

The Coolie MPC 10 hours ago • edited
If you think the hallowing of the US economy with it increasing wage inequalities, outsized wealth allocation to financial sectors, increasingly political divisions, etc. is because CHINA BAD, then you are no different than the other corporate profiteers who dug us in this hole in the first place. This is how the corporatists are trying to avoid blame for their fundamentalist policies over the past four decades. They lash out, "It's only the BAD Chinese, everything will be better if we just move it to Vietnam/Bangladesh/Ethiopia."
MPC The Coolie 10 hours ago • edited
You ascribe things to me that have nothing to do with what I said. The Chinese are not bad, just a competitor, and China is not responsible for America's own choices.

You're just replacing one utopian thinking about free trade, with another about economic protectionism. The world doesn't fit neatly around ideological dogma.

Until you square America's overconsumption you have to tolerate trade deficits. You can make strategic choices about where they come from at least. Free traders were not honest about impacts on domestic industry. Domestic protectionism is not being honest about the fact that for it to succeed, consumption of imported goods, and some domestic, to free up capacity to import substitute, has to tank, without the prospect of enough domestic production happening to replace them, and certainly not at anything like the price levels that exist currently.

In the long run overconsumption should be attacked. Strategic, mutually beneficial trade relationships will still exist. In the short run we should be more careful about the source of trade deficits. Overconsumption will not be solved overnight. But that's not a neat campaign slogan.

The Coolie MPC 8 hours ago
I don't disagree with the problems of an over-consumption reliant economy, which prefers we purchase new TVs every 3 years, smartphones every 2 years, and 3 new winter coats every season. But it's a huge fallacy to imagine that reallocating production to Vietnam or Bangladesh will reduce China's power. Who will be creating those factories? Sorry, Chinese investment. Where will the logistics chain need to connect? Sorry, all roads will lead to China - both for its 1.4 billion consumer and their ability to control the higher end of the manufacturing. When will they demand China's inclusion in a grouping like TPP? Sorry, within 1-2 years of signing that supposed "Keep China Out" agreement. Guess whose economies will be even more reliant on China? You guessed it, all those supposed U.S. allies who want no part in global decoupling.
Wally 17 hours ago • edited
It was ok to let low margin manufacturing move offshore because Americans were going to move up the value chain. These other countries, like China, would develop their economy, lift a few billion people out of poverty, and transform themselves into beacons of freedom and democracy across the developing world. The globalists told us this over and over again. China (and India) would make our plastic junk and we would sell them financial products and services like credit default swaps and make a killing!

And that's how it worked out. The bankers made out. No one cared about the displaced factory workers because it was their own fault they weren't smart enough to become Wall Street masters of the universe. Buying American, we were told way back in the 80s by Saint Ronald Reagan was a scam to support corrupt unions and lazy management. How dare they demand, for example, that Japanese car makers locate here in the US. We should just let them import what they want and let Ford go bankrupt. Union busting was more important than anything else.

MPC Wally 11 hours ago
What you want with trade is to keep it somewhat balanced, and watch employment. To continue the example Japan exports roughly twice to us what we export to them. Ideally that'd be more even, but who is going to make more products to export to Japan, or produce Japanese products here? You'll have to fight for workers already being employed elsewhere. And many on the right probably would not like the idea of more immigrants to help staff production, or to free up Americans to staff it.

America does suck up too many talented people into well paid jobs that do little to advance us, but certainly not enough to correct the trade imbalances of every country we trade with. Probably not even Japan whose imbalance is a tiny fraction of China's.

America's trade imbalances are a collaboration between foreign producers seeing opportunities, domestic elites seeing major profit, but most importantly Americans themselves whose consumption impulses are so, so lucrative. Americans cannot make all the stuff that Americans want right now. Enter immigrants. Enter outsourcing. Enter major trade deficits. People profit on the exchange, but this is a setup that America collectively has voted for with its wallet, over and over again.

kouroi MPC 10 hours ago
Also America makes/made products that other people don't want. From 2 by 4 lumber in inches and feet, when the rest of the world is in metric system, to oversize fridges and pick-up trucks that do not fit in the European or Japanese size houses and roads.
Kent 16 hours ago
"Deliver a good product at a price and quality acceptable to the customer."

LOL. Obviously a failed businessman. The purpose is to put your customer's money in your pocket. If your customer is making a profit off of your product, raise the price. If the customer balks and buys from a different vendor, buy all the vendors. Create a monopoly. Once you have a monopoly, stop paying whiney American workers who expect decent pay and respect, and have Chinese slaves make your product. The purpose of the "Free Market" is not about price. It's about maximizing shareholder value. It's not about creating good jobs, America or any of that other nostalgia from the pre-Free Market days.

It's about liberty. The liberty of the property and capital owning class to keep their wealth (their wealth is the same thing as your labor), in their hands and away from you and your stupid government's grubby, unwashed hands.

FND Kent 15 hours ago
The ideal market conditions result in happy customers and profitable businesses. Its true that ideal market conditions often don't prevail when a monopoly is created. But what makes it even worse is when government enables those conglomerates to become even larger by making it impossible for small businesses to compete due to onerous regulations and gobbletygook tax loopholes gained by conglomerate lobbyists.

I believe the economic policies based on the dominant economic theory in Germany is the best approach for a solid, competitive economy. That theory is Ordo-liberalism, which allows government to make sure a proper legal environment for the economy exists to maintain a healthy level of competition through measures that adhere to market principles.

The Ordo-liberalists believe if the state does not take active measures to foster competition, firms with monopoly power will emerge, which will not only subvert the advantages offered by the market economy, but also possibly undermine good government, since strong economic power can be transformed into political power. We have seen this happen in the US and it is BIPARTISAN. In fact some of the worst examples of unholy alliances between corporations and government come from the Dem side of the aisle.

joeo 14 hours ago
The open markets, open borders policy has been good for the elite but detrimental for the US. Millions of immigrants were let in as the jobs they could perform were outsourced to China and Asia in general. Consumer electronics,textiles,steel, appliances, automotive and manufacturing of all sorts were allowed to leave. Not everyone can be a coder, work on Wall Street, for the Government or Academia. This same elite is aghast at the rise of Trump, what else could anyone have reasonably expected?
Harry Huntington 14 hours ago
The problem is Milton Friedman was wrong about central planning. Adam Smith's Wealth of Nations was written when communication systems were poor, so localized information was better. With modern data collection, "big data" analysis, AI and other such tools central planning exists and works. We call the winners in that planning world companies like Walmart and Amazon. We also know that central planning in the US worked with less than perfect data. The War Production Board in the US in WWII did allocate production of all those things necessary to manufacture Milton Friedman's needle (or more likely a cotter pin). There were imperfections but we let those run over into the consumer segment of goods. Flash forward to today, the "free market" is the myth used to convince average American to allow hedge funds, private equity, and companies like Bain Captial ship their jobs overseas. Especially as we move to robots, there is no reason to import any manufactured goods. Likewise, those pesky environmental rules we have? There is no reason we don't apply those rules to things people seek to sell in the US market--meaning we could make an importer prove goods were manufactured according to US standards. Health and safety standards are not sources of "comparative advantage" in free market theories.
kouroi Harry Huntington 10 hours ago
And this is why the Chinese, Russians, Indians, Iranians, Japanese, Europeans, Koreans, don't want their economies run from Wall Street and carefully control the shares owned by outsiders.
Tradcon 13 hours ago • edited
I think on the topic of "planning" its important to clarify. Some call any government intervention an example of "central planning" while others apply that term only to Soviet-style Gosplan. Either way the "Knowledge Problem", while true to an extent, is incomplete. The fact of the matter is we don't need to know everything about the market to make correct decisions regarding what economic goals we want to set, and there is a scale, a difference, between something like the American System and Gosplan. Julius Krein's article in the American Compass was excellent, I'll link it below. One need only look to the success of the East Asian Tigers or to the US from 1791-1965 (dates vary) to see the success of a healthy sort of developmentalist "planning". Not all planning has to be adverse to private business, the most successful types are done in conjunction with it. There will be imperfections whether the government is involved or not, the fact that imperfections will exist or that mistakes might be made is no excuse for inaction, especially when that inaction leads to the situation we're currently in regarding pharmaceuticals.

https://americancompass.org...

kouroi Tradcon 10 hours ago
How about all the externalities that an unregulated free-market tends to forget?
Tradcon kouroi 5 hours ago
Yes Krein goes into that. A market does not take into account national security.
kouroi Tradcon 2 hours ago
Yes, interesting article. I liked how quickly in the article it started talking about risk and the important role government has in mitigating that risk.

What is also missing from this entire discussion about free markets, which is essential and it is eschewed or pooh-pooed or entirely not acknowledged by libertarians and conservatives alike (not that progressive / liberals talk about it), is what is the role of representative democracy in steering how economy (which is a means to an end, not an end to itself) should work, what is the role of government, and who's really the sovereign (We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity.....).

Is the government by the people and for the people or it isn't? Are there proper mechanisms in place to oversee how well operations are conducted by government, according to approved budgets? Is government supposed to do forecasting and crystal balling solely by using think tank reports or should have internal professional and knowledgeable analysts doing this work (I swear on the constitution of the US to serve, etc., etc, etc.).

All this rabbit hole over which libertarians and conservatives starting with Reagan have been pooping on. Nixon nowadays, or Eisenhower wouldn't be accepted by Republicans, nor FDR by Democrats... And talking about free markets and democracy, it is puzzling to have just a duopoly entrenched in the marketplace of political ideas in the US. Everything else is literally killed.

HistoryProf 12 hours ago
It's too easy to just blame corrupt elites and therefore let the system itself completely off the hook. Any system that allows for a small number of private entities to twist everything to their personal advantage is a system with major structural flaws. The essential core of the problem is that any system pursued too rigidly and ideologically will lead to short-sighted decisions that ultimately lead to perverse and absurd outcomes.Offshoring most of our manufacturing wasn't a corrupt decision made by a small cabal of villains. It was a logical, yet ultimately destructive, result of blind and unthinking pursuit of pure "free trade."

Imagine a society (like the U.S.) to be like an organism with a heart, lungs, brain, limbs, etc. Now imagine that each part of the body is told to maximize its own benefit without any concern for the organism as a whole.

Those in charge of the brain say "We function better with more blood flow, so let's block off blood flow to the arms and legs so that we get more. Great idea!" Now the organism's brain is doing great, but its arms and legs wither and die.

"We are benefiting from the increased blood flow too," says the lungs, "but the heart just isn't producing enough for us to really flourish." What if we outsource blood pumping to an external entity that promises us more volume? So now the heart dies and what is left of the organism is now hooked to an external machine to keep it alive.

"Why do we have to rely on an inefficient mouth and teeth to give us our source material?" chimes the stomach. "How about a feeding tube to give us cheaper and faster raw materials?" Etc etc etc.

On and on it goes with some parts doing great from their perspective, but with the overall organism being hollowed out and weakened.

The best type of economic system in a country is a mixed one that blends together capitalism with some degree of central thinking and planning (egads, heresy!) about how decisions could adversely affect the long term health of the country as a whole.

kouroi HistoryProf 10 hours ago
Nice comparison. Are you letting us think and believe that one part of the body ends up thinking that is in fact totally independent and can leave all the rest wither and die? With deep psychopathic tendencies, that filters all the stimuli and the information received from the body, except its own?

No wonder revolutions happen...

Inn caritas 12 hours ago
"Libertarianism" was never about liberty: it's just swapping the dictatorship of the state for the dictatorship of the market.
Egyptsteve Inn caritas 9 hours ago
Libertarianism: Let me smoke my weed, have my gay sex, and don't make me pay any taxes.
L RNY 11 hours ago
The communists had said that capitalism would sell the seeds of its own destruction. Our elites came up with free trade but chose to ignore that free trade was merely a facade to export jobs and import goods with them skimming the profit. They chose to ignore all the financial (and political) machinations like currency rigging, state subsidies, forced state sharing or ownership of technology when off shored to China, they choise to ignore prison labor and others. This isnt about free trade or free markets because there is no such thing. Every nation has a different social welfare system, medical system, tax system, copyright and patent system, system of legal bribery and payoff, etc and each is meant to tip the scales of free markets and free trade to their advantage (and in the case of China a technological and monopolistic and militaristic advantage). We are now at a point where the game and the cards have been revealed though the Democrats have been profiting for so long that they want to keep the game going with the Chinese and other foreign nations (its easy money to line their pockets and their campaign funds since they dont have to listen to their constituents diverse views...they just need to manage them and listen to Chinese demands). Id say the american citizenry is boiling mad and arent far away from boiling over but we shall see where it goes or if it goes anywhere. To date Trumps restrictions on immigration and his trade deals are better than the nonexistent policies of the democrats but they are will woefully catering to the elites and lacking in spine and substance to do as Trump promised.
kouroi L RNY 10 hours ago
I think prison labour is more relevant and widespread in the US rather than China. China has all the political interest to provide work for all the free multitudes teaming in their cities and countryside, why to give that to prisoners?

Same as the story with the Uighur camps. Just seen recently a Reuters article on the Russian vessel arriving in Germany to finish laying down the NS2 pipeline, with satellite pictures, etc. Just a ship. However, there was no picture provided to the world to show the massive developments required to house 1 million people, not one, and I looked.

Sorry, just a pet peeve of mine to see statements that don't stand close scrutiny.

Mario Diana 8 hours ago • edited
The Price Mechanism Theory only works well when there is honest and accurate information to understand the true costs [ ]

You're conflating the economic with the political. There is nothing wrong with Mises' work on prices and how they coordinate an advanced, widely distributed, division-of-labor economy. It works in the "macro" as well as the "micro" -- because that is an artificial distinction (something Mises could tell you about, too).

The fallacy is imagining that economic theory is the be-all-end-all. When people think that, they ignore political considerations and consequences, to the detriment of society at large. The bottom line is there is nothing wrong with free trade among free countries in a peaceful world. The political situation of the present world, however, demands a somewhat more modified approach. If these are the "true costs" you're talking about, fine. But you've expressed it in such a way as to muddy the waters of what is an honest and accurate economic theory.

Amicus Brevis Mario Diana 2 hours ago • edited
That is because he doesn't understand what really happened in China. If you read this thread you also see many theories. They are all based on preconceptions and not actually reading about what happened China after the gang of four were ousted. They understand the consequences and they theorize about the cause. But they don't have to theorize. There is an actual history.

China was not selling cheap products to the United States until about three decades after the job transfers started and it was almost already done by then. The truth is, China had nothing to export but its labor. It did that by letting American and other companies set up in China for exploitative wages and protected them by denying its people any rights. They then built products under American management and training. The products were then shipped back to the US as "Chinese" products. But they really were American products made in China. The companies here were not protecting China. They were protecting themselves directly. The jobs transfer was not an unfortunate side effect. It was the whole point. China had nothing to trade. Mao had destroyed the economy.

Steveb 7 hours ago
I recall a long time ago when there was a documentary on this topic and one of the workers from a electric appliance manufacturing facility was interviewed. They were complaining about the Chinese manufactures taking over their product line with cheaper products and causing layoffs at the plant. The moderator asked them where they shopped, they replied "Walmart". When the moderator pointed out that Walmart was the leader in offshoring to get cheaper products, like the appliances they made, they just stared.

You are going to somehow have to make Americans pay more for the same thing they can get cheaper from China. Who is going to do that? Not going to be those workers you are trying to protect, they don't have the money to do that. Price is king to them, it is only those snobby liberal types that can afford to do that.

Lets say you manage to get our factory worker to buy 1 expensive American shirt instead of 3 cheap Chinese shirts for the same price. They are not going to get 3 times the life out of that shirt so they are in the hole for that purchase.

Lets say you are really persuasive and the workers really do change, what about all the rest of the people that were employed in the retail and supply chain? What are they going to do? You just put them out of business. You are just deciding to move around who is unemployed.

What about the exporters? Do you really think that China is going to buy American products if you don't buy theirs? How did Trumps trade war work out? Have we won yet? As I recall it cost the average consumer between 500 and 1000 dollars by the time all the tariffs were applied and the farmers and ranchers in the Midwest that exported there are now on government welfare because they could not sell their products. His new "deal" was panned by economists as being nothing more than a minor cosmetic change, the same as the updated NAFTA deal that really changed little.

It is fun to blame the elites but it is a bit simplistic as the american workers have not had a problem sacrificing a few other workers to save some of their own money. If you want to change that you are going to have to start at the bottom and work up.

− +

Gregtown Tradcon 5 hours ago

It should be mentioned that the cheap clothing we buy is rarely made in China. China has leveled up and no longer makes the general crap people buy. The shirt cheap t-shirt I'm wearing was made in Vietnam.
aha! 4 hours ago
A free market with foreign governments is an impossibility. We would have to know every single that is happening within their government and that will never happen. Indeed our internal free market is fading away due to cronyism and secrecy within our own governments. Tax breaks to lure businesses to your state are anti-free market (not to mention the taxes still have to be paid, by the people who are already there). Tax breaks and subsidies to companies already in your state (like windmills and solar panels) are anti-free market. So the conclusion that I draw is the Democrat and Republican parties are imbeciles and crooks and both parties must be destroyed.
Amicus Brevis 3 hours ago • edited
If you believe economic efficiency is the primary value, you would say, "if the Chinese are stupid enough to sell us products below their costs, we should be happy to take advantage of their stupidity." True enough .

But it is not true that is what is happening. It never happened. Chinese invited American companies to manufacture in China. China was selling labor. Not products. It had no products to sell. But when the American companies in China use Chinese labor to manufacture American products the products come to America marked "made in China". But all that the Chinese really sold was cheap labor without rights .

The second thing to know is that the Chinese forbid American companies to use their own brand names in China. They had to create Chinese companies that are 51% Chinese owned but wholly American managed with Chinese management in training. The Americans operated as if they were at home. The only difference is that they had Chinese under studies and the line workers were Chinese. The American companies didn't care because they were making money hand over foot. So when they spoke of "free trade" we were selling out America workers and bringing home cheap goods that our public loved. This was called globalism. That was phase one.

In the second stage, the Chinese quietly reminded the Americans that these were Chinese companies and it was time to begin to promote their Chinese understudies. The Americans didn't care because they still maintained control from America. And they could always find spots for the management back home. But from the Chinese point of view, they now had American technology in Chinese companies, run by Chinese. The technology was now theirs.

They felt free to grow their businesses with wholly owned and controlled subsidiaries since they now owned the technology. This was when the American companies began to scream about intellectual property. They cared because the interests of the rich were now being hurt. When they were stealing American jobs, that was Ok. Only then did our government see a problem. Shipping American jobs overseas is globalism, but shipping patents and copyrights is not. Globalism was always a con. It never existed. It was simply a smokescreen to exploit cheap, unprotected labor in the developing world. They knew from the start that it was not good for America. It was not a discovery. They didn't care because it made them rich.

Fletcher an hour ago
Though I largely agree with the premise of this article the assumptions latent in mr. O'Neill's thinking specifically the US government has to do anything in reflection to the Chinese Communist politburo misses the point of freedom and property rights, in an economy free of the regulatory burden that the oligarchs in pose on the market through their governmental collusion not to mention the tax burden that helps to maintain the shipping lanes to China the American manufacturer will be fine. It should also be said for me environmental point of view free of state protection the perpetrators of mountaintop removal coal mining,glyphosate manufacture etc. Would find themselves much more vulnerable to civil lawsuit/tort law.

[May 15, 2020] "Lifting all boats" was always a lie. It was simply a way to sell trickle down by claiming that the objectively observable inequality it produced would somehow help everyone, eventually, sort of

May 15, 2020 | www.nakedcapitalism.com

L , May 14, 2020 at 11:16 am

"Lifting all boats" was always a lie. It was simply a way to sell trickle down by claiming that the objectively observable inequality it produced would somehow help everyone, eventually, sort of. There was not and has never been a plan by the Conservative Movement to lift all boats. Only a plan to feign interest in doing so.

Synoia , May 14, 2020 at 11:36 am

The rich were riding on the Boats being lifted by the workers.

orlbucfan , May 14, 2020 at 11:42 am

That pattern has appeared throughout recorded world history. How is it peacefully stopped?

Ed Miller , May 14, 2020 at 7:45 pm

I see the current situation more like the sinking of the Titanic (whether caused by the virus or shady financial dealing, it doesn't matter). The rich passengers get the lifeboats and the rest of the passengers get the ice water. A few survived in the water, so it's time to look to the future. Crony capitalism in a nutshell.

Bsoder , May 14, 2020 at 5:40 pm

Lifting all yachts.

[May 14, 2020] Libertarians who are extraordinarily sensitive to the least legal limitation on negative freedom are usually completely immune to the idea that structural features of capitalist society are coercive and freedom-limiting

May 14, 2020 | crookedtimber.org

Anarcho 05.06.20 at 3:18 pm 5

"Libertarians who are extraordinarily sensitive to the least legal limitation on negative freedom are usually completely immune to the idea that structural features of capitalist society are coercive and freedom-limiting. "

I think you will discover that those who coined the term libertarian (libertarie) which the propertarians knowning stole in the 1950s are well aware of those structural features -- as Proudhon argued, property is both theft and despotism.:

http://anarchism.pageabode.com/afaq/160-years-libertarian

Please don't let these defenders of private tyranny continue their abuse of the good left-wing word libertarian.

[May 11, 2020] What is the neoliberal freedom exactly? Freedom to be replaced by a machine, without any forward thinking plan by society? Freedom to be hungry? Freedom to rampage and kill others?

May 11, 2020 | www.unz.com

Ilya G Poimandres , says: Show Comment May 9, 2020 at 6:01 am GMT

@onebornfree Anti what freedom exactly? Freedom to be replaced by a machine, without any forward thinking plan by society? Freedom to be hungry? Freedom to rampage and kill others?

This American freedom is an ideology on par with the nihilistic ideology of ISIS. It is an embrace of materialism through Epicurianism. Why exactly is this freedom to crave endlessly, superior to the freedom the CCP aims for its people – freedom from destitution?

You say they are enslaved, but they would say you are enslaved. You say that society enslave their individuality, they would say your individualism enslaved your society.

Any chance of finding a balanced middle ground? Cause the Chinese are closer to it atm.

[May 07, 2020] Neoliberal society does not fare well in any large scale epidemic: The neoliberal dogma of "Freedom for the nihilistic narcissistic ego individual over everything else" lead to anto-social behaviour -- many people today willingly prefer to rake risk and to go to concerts and beer gardens than to deny themselves those small joys in favor of their compatriots

May 07, 2020 | www.moonofalabama.org

DontBelieveEitherPr. , May 6 2020 19:21 utc | 2

Well, you were indeed right. And your reporting better than most if not all MSM articles written by other laymen. And all without any professional experience. Just by trusting in scientific methods, data and knowledge, instead of making a conspiracy out of thin air.
In those times, that is an amazing achievement.

But when i hear how few people are tested, when i hear of multiple deaths in my circle of people, and see the society unable to unite against such a threat, i dont have much hope for how this will go on.
The last 4 sentences say everything about our western societies, including us Germans.
The only profiteers are the rich, toilet paper and noodle merchants, and politicians (who now race each other in opening up BEER GARDENS and CONCERTS with 100 people).


Many people today willingly prefer to go to concerts and beer gardens than to deny themselves those small joys in favor of their compatriots.
Our society is doom. The neoliberal dogma of "Freedom for the nihilistic narcissistic ego individual over everything else" destroyed what was left of it.

bevin , May 6 2020 19:21 utc | 3

Here Lee, look at this series of reports: https://www.wsws.org/en/articles/2020/05/06/nurs-m06.html

"..At one New York City nursing home, the Isabella Geriatric Center in Manhattan's Washington Heights, nearly 100 of its 705 residents have died..."

"..In Medfield, Massachusetts, north of Boston, COVID-19 has killed 54 residents over the past four weeks at the Courtyard Nursing Care Center. An additional 117 residents and 42 employees have tested positive for the virus..."

" A shocking 84 residents have died at the facility since the virus outbreak. Eighty-one employees have tested positive for the coronavirus.

"... deaths at the Soldiers' Home were initially hidden from both the mayor of Holyoke and local health officials, who only became aware of the developing situation when employees at the facility reached out to them. Staff said management at the facility refused to provide them with PPE and instructed them to crowd patients together from multiple wards into a single ward as a solution to staffing shortages due to infections..."

"..A particularly gruesome discovery took place in mid-April when police found 17 corpses piled up at the Subacute and Rehabilitation Center in Andover, New Jersey. The bodies were stacked in a small morgue designed to hold a maximum of four bodies. The more than 2,000 deaths of staff and residents in New Jersey's long-term facilities account for about 40 percent of the state's coronavirus-related deaths."

There's more much more. And not just from the United States either.

[May 06, 2020] Whom Bitcoin brings together

May 06, 2020 | www.moonofalabama.org

Deltaeus , May 6 2020 9:29 utc | 63

@karlof1 | May 5 2020 21:05 utc | 18

There was an amusing quote from somewhere, something like:

Bitcoin brings together
everything people don't understand about money with
everything people don't understand about technology.

[May 05, 2020] Governments are developed to establish justice, ensure tranquility, provide for the common defense, and promote the general welfare. Without these no market is possible. There is no "free market" without government.

May 05, 2020 | www.moonofalabama.org

jadan , May 5 2020 12:29 utc | 153

William Gruff | May 5 2020 10:46 utc | 144

Markets are created and managed by government, Mr. Gruff. Governments are developed to establish justice, ensure tranquility, provide for the common defense, and promote the general welfare. Without these no market is possible. There is no "free market" without government.

[May 03, 2020] It is already possible, at this stage, to draw some lessons from the shock inflicted by the Covid-19 pandemic on world order. The first is that the international order built under the aegis of the United States in the aftermath of the Second World War is no longer adapted to the reality of the balance of power of the 21st century.

May 03, 2020 | www.moonofalabama.org

Mao , May 3 2020 13:25 utc | 2

Google translation:

After the coronavirus pandemic: a world order to reinvent

Editorial. The health crisis is profoundly changing the relationships between major powers. In this context, Europe, if it wants to weigh, must start by organizing its own reconstruction.

"World" editorial. Are we witnessing, under the effect of the global health crisis, a radical transformation of our geopolitical environment? Does the dynamic at work stem from the acceleration of pre-existing trends or from a paradigm shift? Will the next world be worse or better than the one before?

These questions are as legitimate as those we have been asking ourselves for two months about the future of our societies and our economies. And trying to respond to it is just as risky as long as we do not know the duration of the crisis, its magnitude, or how it will be overcome.

But it is already possible, at this stage, to draw some lessons from the shock inflicted by the Covid-19 pandemic on world order. The first is that the international order built under the aegis of the United States in the aftermath of the Second World War is no longer adapted to the reality of the balance of power of the 21st century.

It was already fragile before the coronavirus crisis: some even trace the beginning of its dislocation to the collapse of the Communist bloc in 1989.

The end of the Cold War, the disappearance of the USSR and the rise of China gradually unbalanced a world based on American-Soviet duality. The bipolar order was succeeded by a multipolar disorder, which somehow accommodated - less and less well, in reality - a multilateral mode of global governance.

https://www.lemonde.fr/idees/article/2020/04/30/apres-la-pandemie-liee-au-coronavirus-un-ordre-mondial-a-reinventer_6038253_3232.html


vk , May 3 2020 13:58 utc | 7

... ... ...

On more important news, here's why the USA will never get up from the 2008-2020 meltdown:

The scarring

Walter , May 3 2020 14:25 utc | 10
vk That's a cool link. I particularly appreciated his definition of hysteresis as econo types use it.

I was raised by people who were teenage in 1930-33...and I can assure you that he's right...tough times create lasting changes in behavior.

Norwegian , May 3 2020 16:29 utc | 27
@spudski | May 3 2020 15:45 utc | 21
FWIW, when talking about magnetizing current and a ferromagnetic material (e.g., a transformer core), hysteresis and hysteresis losses are very real.

Hysteresis is a very real physical phenomenon in many different areas. In my field (structural analysis) friction between parts causes hysteresis when subject to (semi-)cyclic loading. It is the most significant effect to take into account when estimating life-time of offshore risers for example.

[May 03, 2020] What would it take to restore USA's standing?

May 03, 2020 | www.moonofalabama.org

karlof1 , May 1 2020 23:38 utc | 100

The reciprocal question: What would it take to restore USA's standing?

First, since the Outlaw US Empire has no stated Industrial Policy we can review we must instead look at past performance as shown by real GDP . We can see the 5 main bubbles inflated then deflated then reinflated by Neoliberal policy since it roared into force with Reagan. In real terms, the economy has shrunk in its productive power to where it was in 1982, and the new figures will push that back further in time to when Nixon went off gold in 1971. Thus the change from putting money directly into the economy via traditional Keynesian methods prior to 1971 to the siphoning of money out of the economy into the hands of Wall Street as per Neoliberal doctrine afterwards, all nicely explained in realtime by Michael Hudson in his first edition of Super Imperialism . IMO, we can see that Neoliberalism is a complete and utter failure when it comes to providing equitable economic growth, and as a policy it must be terminated forthwith.

Second, if we resume traditional Industrial Capitalism by first eliminating the Fed, writing down all federal, consumer, state, local, and some corporate debt, instituting universal healthcare, and then inject money into the economy for businesses and people to use, we'll have an opportunity to jumpstart the economy since by greatly lowering the cost of doing business the workforce and businesses will become more competitive and cause some of the lost supply chains to relocate. Also implicit in this plan is the vast reduction in the USA's overseas empire and its military and security apparatus. The USA will for the first time become a Normal Nation.

Third, during their resumption, workplaces must be democratized along the lines suggested by Richard Wolff, which will initiate the long process of growing a socialist economic structure to prepare for the following realities: The finite nature of the planet and our current environmental crisis of Overshoot which are interrelated. The Age of Growth will end as a necessity, and the Steady-State Age will commence--there's no other rational, logical choice: Gaia's dictating to us and we really have no choice.

Eventually, the USA will find itself amidst 180+ moderately prosperous nations it must share the planet's wealth with in a neighborly manner. IMO, nuances there will be, but broadly there's no other Moral of Just way to proceed if humanity's to have a fighting chance during the 22nd Century and beyond.

[May 03, 2020] "Pleonexia, sometimes called pleonexy, originating from the Greek , is a philosophical concept which roughly corresponds to greed, covetousness, or avarice, and is strictly defined as 'the insatiable desire to have what rightfully belongs to others', suggesting what Ritenbaugh describes as 'ruthless self-seeking and an arrogant assumption that others and things exist for one's own benefit'"

May 03, 2020 | www.moonofalabama.org

karlof1 , May 1 2020 18:22 utc | 63

Pleonexia is a concept I introduced into a discussion of a similar topic about 2 or so years ago on this board as being at the root for the decline and fall of the Outlaw US Empire. Here's what Wiki says about it at the link:

"Pleonexia, sometimes called pleonexy, originating from the Greek πλεονεξία, is a philosophical concept which roughly corresponds to greed, covetousness, or avarice, and is strictly defined as ' the insatiable desire to have what rightfully belongs to others ', suggesting what Ritenbaugh describes as ' ruthless self-seeking and an arrogant assumption that others and things exist for one's own benefit '" [My Emphasis]

That trait's shared by all Imperialist nations all of which arose based on the same Greco-Roman foundations or learned those traits from them as in the case of the Japanese. Indeed, that such traits aren't recognized speaks to the illiteracy of those rising to or placed in leadership positions as they seem to be totally unaware of the numerous lessons within Greek and Roman literature/culture--lessons known by the Founders and others 250 years ago when to be considered educated you had to know Greek, Latin, and their classical literature. As Walter says, it's a Greek Tragedy; but the play began in the last quarter of the 19th Century as has also been written about.

Those running the Outlaw US Empire seem oblivious to the wall they're about to run the nation into, or we might say it's a cliff that will take the nation into the abyss. The G-20 determined last year that a new global currency to conduct commerce was required to replace the dollar. A short discussion and linking of articles occurred on that topic yesterday between me and Likklemore. Bevin insisted we discuss the failure of Capitalism and what needs to come next as its replacement. I've advocated the need for a steady-state socialist system as the new global political-economy. As I reported, a prominent Singaporean in promoting his newest book wrote in The Economist that the advent of the pandemic marks the start of the Asian Century thanks to the gross Moral Failure of the West and the Outlaw US Empire as its lead nation.

How does a group of people get cured of Pleonexia? It's likely way too late for the current crop of oligarchs; but what of their heirs who were presumably schooled in similar fashion to their elders, and their progeny? I'm with Hudson in that their wealth must be written down close to zero, and the new system emplaced will not allow a repetition. Meanwhile, someone needs to get busy writing about the current Tragedy such that future generations can learn its lessons so they're not repeated.

[May 01, 2020] Trump is a salesman first and foremost. As a former pharmaceutical rep I am well aware that most salesmen are suckers for most sales pitches as an intrinsic part of their personalities.

The absence of sufficient state controls in a democracy enables the wealthy class to manipulate the economy, the press and elected representatives for its own gain. A widening gulf between poverty and affluence develops, gradually dragging the working class to ruin
Notable quotes:
"... Our economy is based on the wet dream of sycophants like Mnuchin who barely escaped prison for his games in the wake of devastation of the subprime loan disaster on 2008, and neoliberals who are much better at playing him then the opposite. So he's a puppet for Wall Street AND a closet neocon. Would the demonstrably senile Biden be any better? Not a chance, so once again the majority of Americans are left with a sham election whereby two flavors of the same shit are what's being fed to us. ..."
May 01, 2020 | www.unz.com

Gyre07 , says: Show Comment April 30, 2020 at 3:45 pm GMT

@Priss Factor Assuming he's even motivated by a desire to make America a better Constitutional Republic, Trump is a salesman first and foremost. As a former pharmaceutical rep I am well aware that most salesmen are suckers for most sales pitches as an intrinsic part of their personalities.

So as I watch Trump being manipulated continuously by a variety of slick and confident grifters inhabiting the world stage with their multitude of transparent agendas I can only go, "that figures". I mean, he's basically just a more alpha version of GW Bush, so the fact that we haven't gone full gonzo yet on another nation is something of a miracle. Instead he's waging war by collapsing economies he views as competitors OR those of countries he wants to invade to steal natural resources from. As for the health of America, we're fucked.

Our economy is based on the wet dream of sycophants like Mnuchin who barely escaped prison for his games in the wake of devastation of the subprime loan disaster on 2008, and neoliberals who are much better at playing him then the opposite. So he's a puppet for Wall Street AND a closet neocon. Would the demonstrably senile Biden be any better? Not a chance, so once again the majority of Americans are left with a sham election whereby two flavors of the same shit are what's being fed to us.

Digital Samizdat , says: Show Comment April 30, 2020 at 4:49 pm GMT
@anon

Government and big money seem to have formed a nexus, dominated by a very small number of people, who seem to be at war with us.

I seem to agree.

Emily , says: Show Comment April 30, 2020 at 9:34 pm GMT
Until the American people demand electoral reform – you ain't going nowhere.
You need another party and you need to vote for it.
Stuff the neo lib or neo lib or neo lib – of the existing choice.
You have a two headed hydra – in reality a one party state.
Financed and controlled by puppet masters.
The democracy in the US is a total sham
A fraud and farce.
And you need fair voting.
Used by most democracies – PR – Proportional Representation.
Where votes mean seats.
A Ron Paul party would be a dream.
But until America gets off its fat bots and seriously acts to become a democratic state – you are getting what you continue to vote for.
Greed, corruption and elite rule – bought and paid for in the House and Senate down.
Nothing but a puppet, pawn and tax collector for another foreign power.
And you dare to mass murder and bomb in the name of 'regime change' and democracy to create your vile rule of law across the planet
Gross, an abomination – a facist state.

[May 01, 2020] Burn, Neoliberalism, Burn by Pepe Escobar

While it is true that neoliberalism is "accumulation by dispossition" or "redistribution of wealth up" it proved to be amazingly resilient in crisis.
Oct 24, 2019 | www.strategic-culture.org

Neoliberalism is – literally – burning. And from Ecuador to Chile, South America, once again, is showing the way. Against the vicious, one-size-fits-all IMF austerity prescription, which deploys weapons of mass economic destruction to smash national sovereignty and foster social inequality, South America finally seems poised to reclaim the power to forge its own history.

Three presidential elections are in play. Bolivia's seem to have been settled this past Sunday – even as the usual suspects are yelling "Fraud!" Argentina and Uruguay are on next Sunday.

Blowback against what David Harvey has splendidly conceptualized as accumulation by dispossession is, and will continue to be, a bitch. It will eventually reach Brazil – which as it stands continues to be torn to pieces by Pinochetist ghosts. Brazil, eventually, after immense pain, will rise up again. After all, the excluded and humiliated all across South America are finally discovering they carry a Joker inside themselves.

Chile privatizes everything

The question posed by the Chilean street is stark: "What's worse, to evade taxes or to invade the subway?" It's all a matter of doing the class struggle math. Chile's GDP grew 1,1% last year while the profits of the largest corporations grew ten times more. It's not hard to find from where the huge gap was extracted. The Chilean street stresses how water, electricity, gas, health, medicine, transportation, education, the salar (salt flats) in Atacama, even the glaciers were privatized.

That's classic accumulation by dispossession, as the cost of living has become unbearable for the overwhelming majority of 19 million Chileans, whose average monthly income does not exceed $500.

Paul Walder, director of the Politika portal and an analyst for the Latin-American Center of Strategic Analysis (CLAE) notes how less than a week after the end of protests in Ecuador – which forced neoliberal vulture Lenin Moreno to ditch a gas price hike – Chile entered a very similar cycle of protests.

Walder correctly defines Chile's President Sebastian Pinera as the turkey in a long-running banquet that involves the whole Chilean political class. No wonder the mad as hell Chilean street now makes no difference between the government, the political parties and the police. Pinera, predictably, criminalized all social movements; sent the army to the streets for unmitigated repression; and installed a curfew.

Pinera is Chile's 7 th wealthiest billionaire, with assets valued at $2.7 billion, spread out in airlines, supermarkets, TV, credit cards and football. He's a sort of turbo-charged Moreno, a neoliberal Pinochetist. Pinera's brother, Jose, was actually a minister under Pinochet, and the man who implemented Chile's privatized welfare system – a key source of social disintegration and despair. And it's all interlinked: current Brazilian Finance Minister Paulo Guedes, a Chicago boy, lived and worked in Chile at the time, and now wants to repeat the absolutely disastrous experiment in Brazil.

The bottom line is that the economic "model" that Guedes wants to impose in Brazil has totally collapsed in Chile.

Chile's top resource is copper. Copper mines, historically, were owned by the US, but then were nationalized by President Salvador Allende in 1971; thus war criminal Henry Kissinger's plan to eliminate Allende, which culminated in the original 9/11, in 1973.

Pinochet's dictatorship later re-privatized the mines. The largest of them all, Escondida, in the Atacama desert – which accounts for 9% of the world's copper – belongs to Anglo-Australian giant Bhp Billiton. The biggest copper buyer in world markets is China. At least two-thirds of income generated by Chilean copper goes not to the Chilean people, but to foreign multinationals.

The Argentine debacle

Before Chile, Ecuador was semi-paralyzed: inactive schools, no urban transport, food shortages, rampant speculation, serious disturbances on oil exports. Under fire by the mobilization of 25,000 indigenous peoples in the streets, President Lenin Moreno cowardly left a power void in Quito, transferring the seat of government to Guayaquil. Indigenous peoples took over the governance in many important cities and towns. The National Assembly was AWOL for almost two weeks, without the will to even try to solve the political crisis.

By announcing a state of emergency and a curfew, Moreno laid out a red carpet for the Armed Forces – and Pinera duly repeated the procedure in Chile. The difference is that in Ecuador Moreno bet on Divide and Rule between the indigenous peoples' movements and the rest of the population. Pinera resorts to outright brute force.

Apart from applying the same old tactics of raising prices to obtain further IMF funds, Ecuador also displayed a classic articulation between a neoliberal government, big business and the proverbial US ambassador, in this case Michael Fitzpatrick, a former Assistant Secretary for Western Hemisphere matters in charge of the Andean region, Brazil and the Southern Cone up to 2018.

The clearest case of total neoliberal failure in South America is Argentina. Less than two months ago in Buenos Aires, I saw the vicious social effects of the peso in free fall, inflation at 54%, a de facto food emergency and the impoverishment of even solid sectors of the middle class. Mauricio Macri's government literally burned most of the $58 billion IMF loan – there's still $5 billion to arrive. Macri is set to lose the presidential elections: Argentines will have to foot his humongous bill.

Macri's economic model could not but be Pinera's – actually Pinochet's, where public services are run as a business. A key connection between Macri and Pinera is the ultra-neoliberal Freedom Foundation sponsored by Mario Vargas Llosa, who at least boasts the redeeming quality of having been a decent novelist a long time ago.

Macri, a millionaire, disciple of Ayn Rand and incapable of displaying empathy towards anyone, is essentially a cipher, pre-fabricated by his Ecuadorian guru Jaime Duran Barba as a robotic product of data mining, social networks and focus groups. A hilarious take on his insecurities may be found in La Cabeza de Macri: Como Piensa, Vive y Manda el Primer Presidente de la No Politica , by Franco Lindner.

Among myriad shenanigans, Macri is indirectly linked to fabulous money laundering machine HSBC. The president of HSBC in Argentina was Gabriel Martino. In 2015, four thousand Argentine accounts worth $3.5 billion were discovered at HSBC in Switzerland. This spectacular capital flight was engineered by the bank. Yet Martino was essentially saved by Macri, and became one of his top advisers.

Beware the IMF vulture ventures

All eyes now should be on Bolivia. As of this writing, President Evo Morales won Sunday's presidential elections in the first round – obtaining, by a slim margin, the necessary 10% spread for a candidate to win if he does not obtain the 50% plus one of the votes. Morales essentially got it right at the end, when votes from rural zones and from abroad were fully counted, and the opposition had already started to hit the streets to apply pressure. Not surprisingly, the OAS – servile to US interests – has proclaimed a "lack of trust in the electoral process".

Evo Morales represents a project of sustainable, inclusive development, and crucially, autonomous from international finance. No wonder the whole Washington Consensus apparatus hates his guts. Economy Minister Luis Arce Catacora cut to the chase: "When Evo Morales won his first election in 2005, 65% of the population was low income, now 62% of the population has access to a medium income."

The opposition, without any project except wild privatizations, and no concern whatsoever for social policies, is left to yell "Fraud!", but this could take a very nasty turn in the next few days. In the tony suburbs of southern La Paz, class hate against Evo Morales is the favorite sport: the President is referred to as "indio", a "tyrant" and "ignorant". Cholos of the Altiplano are routinely defined by white landowning elites in the plains as an "evil race".

None of that changes the fact that Bolivia is now the most dynamic economy in Latin America, as stressed by top Argentine analyst Atilio Boron .

The campaign to discredit Morales, which is bound to become even more vicious, is part of imperial 5G war, which, Boron writes, totally obliterates "the chronic poverty that the absolute majority of the population suffered for centuries", a state that always "maintained the population under total lack of institutional protection" and the "pillaging of natural wealth and the common good".

Of course the specter of IMF vulture ventures won't vanish in South America like a charm. Even as the usual suspects, via World Bank reports, now seem "concerned" about poverty; Scandinavians offer the Nobel Prize on Economics to three academics studying poverty; and Thomas Piketty, in Capital and Ideology , tries to disassemble the hegemonic justification for accumulation of wealth.

What still remains absolutely off limits for the guardians of the current world-system is to really investigate hardcore neoliberalism as the root cause of wealth hyper-concentration and social inequality. It's not enough to offer Band-Aids anymore. The streets of South America are alight. Blowback is now in full effect.

[Apr 30, 2020] In the Ruins of Neoliberalism The Rise of Antidemocratic Politics in the West (The Wellek Library Lectures) by Wendy Brown

Apr 30, 2020 | www.amazon.com

The accent marks in this story vary. Sometimes they are on neoliberal policy, sometimes on putative Left-liberal absorption with multiculturalism and identity' politics, sometimes on the increased political importance and power of evangelicals and Christian nationalists, sometimes on the growing vulnerability of an uneducated population to lies and conspiracies, sometimes on the existential need for horizons and inherent unattractiveness of a globalist worldview' for all but elites, and sometimes on the enduring racism of an old white working class or the new' racism cleaved to by' younger uneducated whites. Some stress the role of powerful right-wing think tanks and political money. Others stress new/old "tribalisms" emerging from the breakdowns of nation-states or previously' more (racially or religiously') homogenous regions. However, almost all agree that neoliberal intensification of inequality' within the Global North was a tinderbox and that mass migration from South to North was a match to the fire.

To make these arguments, In the Ruins revisits selected aspects of the thinking of those who gathered as the Mont Pelerin Society in 1947, took the name "neoliberalism," and offered the founding schema for what Michel Foucault would call the dramatic "reprogramming of liberalism" that we know as neoliberalism today'. Again, however, this does not mean that either the original neoliberal intellectuals -- Friedrich Hayek, Milton Friedman, and their half-siblings, the German Ordoliberals -- or even later neoliberal policy' makers themselves aimed at the political and economic present. To the contrary', popular enthusiasm for autocratic, nationalist, and in some cases neofascist regimes, fueled bv mydh mongering and demagoguery', departs as radically from neoliberal ideals as repressive state communist regimes departed from those of Marx and other socialist intellectuals, even if, in each case, the deformed plant grew from soil fertilized by' these ideas. Forged in the crucible of European fascism, neoliberalism aimed at permanent inoculation of market liberal orders against the regrowth of fascistic sentiments and totalitarian powers." Eager to separate politics from markets, the original neoliberals w'ould have loathed both the crony' capitalism and international oligarchical power spawned by' finance that y'anks the chains of states today. 1 " Seeking to get politics out of markets and concentrated economic interests out of policy' making, they w'ould have deplored the manipulation of public policy' by' major industries and capital sectors and would have hated, too, the politicization of enterprise. Above all, they' dreaded political mobilizations of an ignorant, aroused citizenry and looked to market and moral discipline and a severely' leashed democracy' to pacify and contain it. They' would be horrified by' the contemporary phenomenon of leaders at once authoritarian and reckless riding to pow'er on this tide. In short, w'hile the book will argue that the constellation of principles, policies, practices, and forms of governing reason that may be gathered under the sign of neoliberalism has importantly' constituted the catastrophic present, this w'as not neoliberalism's intended spawm, but its Frankensteinian creation. Fathoming how that creation came to be requires examining the imminent failures and occlusions of neoliberal principles and policy', as well as their admixture with other powers and energies, including those of racism, nihilism, fatalism, and ressentiment. 11

If this book does not argue that neoliberalism aimed at the current conjuncture of principles, policies, practices, and forms of rationality', neither does it argue that the fascisms of the 1930s are "returning," nor that Western civilization, otherwise on the path of progress, is in a bout of regression.-- Rather, it theorizes the current formation as relatively' novel, differing from authoritarianisms, fascisms, despotisms, or tyrannies of other times and places and differing as well from conventional or known conservatisms. It thus rejects the language that much of the Left uses to upbraid the Right, as well as much of the language that the Right uses to describe itself. It is especially focused on how neoliberal formulations of freedom animate and legitimate the hard Right and how the Right mobilizes a discourse of freedom for its sometimes violent exclusions and assaults, for resecuring white, male, and Christian hegemony', and not only for building the power of capital. It is also concerned with how' this formulation of freedom paints the Left, including the moderate or liberal Left, as tyrannical or even "fascistic" in its care for social justice and at the same time as responsible for disintegrating moral fabrics, unsecured borders, and giveaways to the undeserving.

The project of In the Ruins requires thinking beyond and even revising the arguments of Undoing the Demos: Neoliberalism's Stealth Revolution, my previous work on neoliberalism and democracy, where my characterization of neoliberalism's world-making rationality focused exclusively on its drive to economize all features of existence, from democratic institutions to subjectivity.It also requires revising the arguments of an earlier essay, "American Nightmare," where I analyzed neoliberal and neoconservative rationalities as distinct in origins and characteristics.- Both arguments failed to grasp crucial features of the Thatcher-Reagan neoliberal revolution, features that took their bearings from what Phillip Mirowski named the Neoliberal Thought Collective and Daniel Stedman Jones described as "a kind of neoliberal international," a transatlantic network of academics, businessmen, journalists and activists.-.- This revolution aimed at releasing markets and morals to govern and discipline individuals while maximizing freedom, and it did so by demonizing the social and the democratic version of political life. Neoliberal reason, especially as Friedrich Hayek formulated it, casts markets and morals as singular forms of human need provision sharing ontological principles and dynamics. Rooted in liberty' and generating spontaneous order and evolution, their radical opposites are any kind of deliberate and state- administered social policy', planning, and justice.

The Rise of Antidemocratic Politics

Perhaps opponents of social democracy should welcome it for its conservative effects. Social democracy brings to society generally and to the political system contributions that serve to soften the potential radicalism of political democracy. All contribute, all benefit, and all have a stake. By promoting public education, social security, and expanded health care, social democracy helps to mitigate the divisiveness of wealth, race, ethnicity and other potentially explosive identities. It promotes a commonality of shared contributions and benefits that encourages a moderate, rather than an enraged form of majority rule.

-- Sheldon Wolin, Fugitive Democracy and Other Essays

The term "neoliberalism" was coined at the 1938 Colloque Walter Lippmann, a gathering of scholars who laid the political- intellectual foundations for what would take shape as the Mont Pelerin Society a decade later. Neoliberalism is most commonly associated with a bundle of policies privatizing public ownership and services, radically reducing the social state, leashing labor, deregulating capital, and producing a tax-and-tariff-friendly climate to direct foreign investors. These were precisely the policies imposed on Chile by Augusto Pinochet and his advisors, the "Chicago Boys," in 1973 and soon after carried elsewhere in the Global South, often imposed by the International Monetary' Fund as "structural adjustment" mandates tied to borrowing and debt restructuring.- What started in the Southern Hemisphere soon flowed north, even if the executive powers of the revolutions were rather different. By the end of the 1970s, exploiting a crisis of profitability and stagflation, neoliberal programs were rolled out by' Margaret Thatcher and Ronald Reagan, again centering on deregulating capital, breaking organized labor, privatizing public goods and services, reducing progressive taxation, and shrinking the social state. The policies rapidly' spread across Western Europe, and the breakup of the Soviet Bloc at the end of the 1980s meant that much of Eastern Europe transitioned from state communism to neoliberal capitalism in less than half a decade.

The above account, hewing to a neo-Marxist approach, formulates neoliberalism as an opportunistic attack by capitalists and their political lackey's on Keynesian welfare states, social democracies, and state socialism. In Globalists: The End of Empire and the Birth of Neoliberalism, Quinn Slobodian adds sophistication to this picture by' emphasizing the extent to which neoliberalism was both intellectually' conceived and practically unveiled as a global project in which nation-state economic sovereignty would be superseded by' the rules and agreements set by' supranational institutions such as the World Trade Organization, World Bank, and International Monetary Fund.- In Slobodian's telling, neoliberalism aimed simultaneously' at dismantling barriers to capital flows (and hence to capital accumulation) posed by' nation-states and at neutralizing redistributive demands from the recently decolonized South, such as those embodied in the New International Economic Order. Slobodian's account also underscores the extent to which the neoliberal revolution was designed to quash

working-class expectations in both the developed world and developing postcolonial regions as it produced a global race to the bottom. Put differently, releasing capital to chase cheap labor, resources, and tax havens around the world would inevitably generate lower standards of living for working-class and middle-class populations in the Global North and continued exploitation and limited sovereignty, accompanied by (uneven) development, in the Global South.**

In contrast with the neo-Marxist account, by conceptualizing neoliberalism as "reprogramming of liberalism," Michel Foucault offers a substantially different characterization of neoliberalism -- its meaning, aim, and purpose. In his 1978-79 College de France lectures, Foucault emphasized neoliberalism's significance as a novel political rationality, the reach and implications of which go well beyond economic policy' and the empowerment of capital.- Rather, in this rationality, market principles become governing principles applied by r and to the state, but also circulating through institutions and entities across society -- schools, workplaces, clinics, etc. These principles become saturating reality principles governing every' sphere of existence and reorienting homo oeconomicus itself, transforming it from a subject of exchange and the satisfaction of needs (classical liberalism) to a subject of competition and human capital enhancement (neoliberalism). At the same time, according to Foucault, the neoliberals formulated competitive markets as necessitating political support and thus a novel form of w'hat Foucault calls "governmentalizing" the state. In the new governmental rationality, on the one hand, all governing is for markets and oriented by r market principles, and on the other hand, markets must be built, facilitated, propped up, and occasionally even rescued by political institutions. Competitive markets are good, but not exactly' natural or self-sustaining. For Foucault, these two features of neoliberal rationality -- the elaboration of market principles as ubiquitous governing principles and governing itself as reformatted to serve markets -- are among those that divide neoliberal rationality from classical economic liberalism, and not only from Keynesian or social democracy. They' constitute the "reprogramming of liberal governmentality" that could and would take hold everywhere, entrepreneurializing the subject, converting labor to human capital, and repositioning and reorganizing the state. For Foucauldians, then, more important than its rebooting of capitalism is neoliberalism's radical alteration of the values, coordinates, and reality principles that govern, or "conduct conduct," in liberal orders.* 1

This book draws on both the neo-Marxist and Foucauldian approaches to neoliberalism and also expands both to redress their mutual neglect of the moral side of the neoliberal project. It does not treat the two as opposites or as reducible to material versus ideational understandings of power and historical change, but employs them as featuring different dimensions of the neoliberal transformations taking place around the world in the past four decades. The neo-Marxist approach tends to focus on institutions, policies, economic relations, and effects while neglecting the far-reaching effects of neoliberalism as a form of governing political reason and subject production. The Foucauldian approach focuses on the principles orienting, orchestrating, and relating state, society, and subjects and above all on neoliberalism's novel register of value and values, but it too little attends to the spectacular new powers of global capital that neoliberalism heralds and builds. The former casts neoliberalism as ushering in a new chapter of capitalism and generating new forces, contradictions, and crises. The latter reveals governments, subjects, and subjectivities as transformed by neoliberalism's refashioning of liberal reason; it regards neoliberalism as revealing the extent to which capitalism is not singular and does not run on its own logics, but is always organized by forms of political rationality. Both approaches contribute to understanding the characteristics of actually existing neoliberalism and of the current conjuncture. That said, this book is mainly concerned with rethinking the elements and effects of neoliberal rationality and with broadening our understanding of that rationality to include its multipronged attack on democracy and its activation of traditional morality in place of legislated social justice.

By the measure of political equality, what are variously called liberal, bourgeois, or capitalist democracies have never been complete, and what democratic provisions they contain have been weakening steadily in recent decades. How, indeed, is it even possible to secure political equality in large nation-states with capitalist economies? Sheldon Wolin contends that culturing democracy in such settings makes a specific demand on the state, namely, that it act deliberately to reduce inequalities in power among citizens. Only then can political equality be approximated; only then might political life serve the whole, rather than an elite.* To underscore his point about the paradoxical democratic requirement that states build political equality, Wolin quotes approvingly from Marx's critique of Hegel's Philosophy of Right: "It is evident that all forms" of the modern state "have democracy' for their truth, and for that reason are false to the extent that they' are not democracy'."* Wolin takes Marx to mean that the legitimacy' of the modern state rests in the claim to govern for the good of the entire society, to deliver the common good, rather than being the instrument of elites. He regards Marx as recognizing that democracy' is "a distinct kind of association that aims at the good of all" that "depends on the contributions, sacrifices, and loyalties of all." 5 At the same time, Wolin characterizes the requirement that a state employ' its own power to bring a democratic citizenry' into being as moving against the natural course of political power.' That natural course, as Tocqueville made vivid in discussing this issue, is toward concentration and centralization; political and especially state power do not naturally' dilute themselves through dissemination, even as effective governing may* operate by' that very' means.

Democracy', then, is the weakest of warring triplets born in early' European modernity, alongside nation-states and capitalism. 5 According to Wolin, there is no such thing as a democratic state, since states abduct, institutionalize, and wield "surplus power" generated by r the people; democracy always lives elsewhere from the state, even in democracies.* Democratized capitalism is also an oxymoron, and radical democrats have good reason to promote alternative economic forms. This said, capitalism can be modulated in more or less democratic directions, and states can do more or less to nurture or quash the political equality on which democracy depends.

The assault on society and social justice over the neoliberal decades is most familiar in the project of dismantling and disparaging the social state in the name of free, responsibilized individuals. It reached an institutionalized crescendo in the Trump regime, where government agencies designed to steward social welfare in the domains of health, human services, education, housing, labor, urban development, and the environment are headed by those committed to marketizing or eliminating, rather than protecting or administering these goods.- Then there is the regime's newly minted Office of American Innovation, led by Trump's son-in-law, Jared Kushner. The White House introduction of the office as a "SWAT team aimed at fixing government with business ideas" captured in a phrase the displacement of democratic rule with policing and management, along with the disintegration of society into units of production and consumption.-* Assuming the new position, Kushner said, "The government should be run like a great American company. Our hope is that we can achieve successes and efficiencies for our customers, who are the citizens."-* Yet it is companies, not customers, that seek "successes and efficiencies" -- customers are at the receiving end of their marketing and public relations strategies. Thus, more than simply revealing his lack of political knowledge and experience and failure to understand democracy', Kushner may' have unconsciously confessed that when government is run like a business, especially the kinds owned by' his father and father-in- law, citizen-customers would become its unprotected, exploitable, and manipulable objects of gain.

[Apr 29, 2020] China's Rise, America's Fall by Ron Unz

The rumors of the USA demise, including economic demise are greatly exaggerated. Germany and Japan -- the USA allies makes stuff, stuff that people all over the world want to buy – just as the USA did forty years ago. Machine tools, robots, silicon, carbon fibre.
I just wouldn't be so quick to predict the fall of the US visa vis China. The Chinese have now picked all the low hanging fruit. Now, with the USA awakening to the threat, it will become harder for them to sustain growth with little natural resources, pressing population problems, hostility of the USA, and now the spectre of national debt crisis.
Notable quotes:
"... Why Nations Fail ..."
"... Evidence for the long-term decline in our economic circumstances is most apparent when we consider the situation of younger Americans. The national media endlessly trumpets the tiny number of youthful Facebook millionaires, but the prospects for most of their contemporaries are actually quite grim. According to research from the Pew Center, barely half of 18- to 24-year-old Americans are currently employed, the lowest level since 1948, a time long before most women had joined the labor force. Nearly one-fifth of young men age 25–34 are still living with their parents, while the wealth of all households headed by those younger than 35 is 68 percent lower today than it was in 1984. ..."
"... Why Nations Fail ..."
"... Harvard Law Review ..."
"... Wall Street Journal ..."
"... Why Nations Fail ..."
"... Why Nations Fail ..."
"... Ron Unz is publisher of ..."
"... and founder of Unz.org . ..."
"... The state of US politics can only be accurately described as self-destructive. The government's hubris is bringing down the foundations of the economy, and it's only a matter of time before we end up living in the ruins of a dead civilization. ..."
"... The basic fact that supports any capitalist system, is that increasing productivity will increase wealth, that is, real wealth. Huge military expenditures all towards the goal of keeping raw resources a little bit cheaper, and a financial structure increasingly designed to encourage making money from money, are absolutely insane. This is Ancient Rome all over again. ..."
"... I do agree, however with earlier commentators about American lack of discipline. Years ago, cutting through the Engineering School at Rutgers, I was struck that the vast majority of students were foreigners, mostly Asian. Americans at that time just went to school to party. ..."
"... China is not to blame for America's decline, America has to face its own ghosts; the 15 trillion dollars debt, the unemployment, inequality, huge military spending, endless wars that is what you have to confront. ..."
"... Never was a piece written so needed to be read. We are a one party country. We are totally failed by our media for the "most" part. ..."
"... The US is an plutocracy, not a democracy. ..."
"... Mr. Unz said, "And since we live in a entertainment-dominated society, sentiments affirmed on then screen often have direct real-world consequences." ..."
"... In Iceland, it already happened, over a very short span of time. But the Icelandic native populace literally ejected them corporally from the govt. buildings, and now the heads of the major banks have been criminally sentenced and imprisoned, Iceland has the only PM to have been criminally convicted in the financial crisis. Dire predictions by other mafiosi of economic meltdown as a consequence of the "too big to fail" going to jail have yet to materialise, Iceland is doing fine. ..."
"... Far from a great advance for Chinese workers, however, it is the direct result of a consolidation of power in the hands of a small clique of powerful families, families that have actively collaborated with Western financial oligarchs. ..."
Apr 29, 2020 | www.unz.com

America's Economic Decline

These facts do not provide much evidence for the thesis in Why Nations Fail that China's leaders constitute a self-serving and venal "extractive" elite. Unfortunately, such indications seem far more apparent when we direct our gaze inward, toward the recent economic and social trajectory of our own country

Against the backdrop of remarkable Chinese progress, America mostly presents a very gloomy picture. Certainly America's top engineers and entrepreneurs have created many of the world's most important technologies, sometimes becoming enormously wealthy in the process. But these economic successes are not typical nor have their benefits been widely distributed. Over the last 40 years, a large majority of American workers have seen their real incomes stagnate or decline.

Meanwhile, the rapid concentration of American wealth continues apace: the richest 1 percent of America's population now holds as much net wealth as the bottom 90–95 percent, and these trends may even be accelerating. A recent study revealed that during our supposed recovery of the last couple of years, 93 percent of the total increase in national income went to the top 1 percent, with an astonishing 37 percent being captured by just the wealthiest 0.01 percent of the population, 15,000 households in a nation of well over 300 million people.

Evidence for the long-term decline in our economic circumstances is most apparent when we consider the situation of younger Americans. The national media endlessly trumpets the tiny number of youthful Facebook millionaires, but the prospects for most of their contemporaries are actually quite grim. According to research from the Pew Center, barely half of 18- to 24-year-old Americans are currently employed, the lowest level since 1948, a time long before most women had joined the labor force. Nearly one-fifth of young men age 25–34 are still living with their parents, while the wealth of all households headed by those younger than 35 is 68 percent lower today than it was in 1984.

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The total outstanding amount of non-dischargeable student-loan debt has crossed the trillion-dollar mark, now surpassing the combined total of credit-card and auto-loan debt -- and with a quarter of all student-loan payers now delinquent, there are worrisome indicators that much of it will remain a permanent burden, reducing many millions to long-term debt peonage. A huge swath of America's younger generation seems completely impoverished, and likely to remain so.

International trade statistics, meanwhile, demonstrate that although Apple and Google are doing quite well, our overall economy is not. For many years now our largest goods export has been government IOUs, whose dollar value has sometimes been greater than that of the next ten categories combined. At some point, perhaps sooner than we think, the rest of the world will lose its appetite for this non-functional product, and our currency will collapse, together with our standard of living. Similar Cassandra-like warnings were issued for years about the housing bubble or the profligacy of the Greek government, and were proven false year after year until one day they suddenly became true.

Ironically enough, there is actually one major category in which American expansion still easily tops that of China, both today and for the indefinite future: population growth. The rate of America's demographic increase passed that of China over 20 years ago and has been greater every year since, sometimes by as much as a factor of two. According to standard projections, China's population in 2050 will be almost exactly what it was in 2000, with the country having achieved the population stability typical of advanced, prosperous societies. But during that same half-century, the number of America's inhabitants will have grown by almost 50 percent, a rate totally unprecedented in the developed world and actually greater than that found in numerous Third World countries such as Colombia, Algeria, Thailand, Mexico, or Indonesia. A combination of very rapid population growth and doubtful prospects for equally rapid economic growth does not bode well for the likely quality of the 2050 American Dream.

China rises while America falls, but are there major causal connections between these two concurrent trends now reshaping the future of our world? Not that I can see. American politicians and pundits are naturally fearful of taking on the fierce special interest groups that dominate their political universe, so they often seek an external scapegoat to explicate the misery of their constituents, sometimes choosing to focus on China. But this is merely political theater for the ignorant and the gullible.

Various studies have suggested that China's currency may be substantially undervalued, but even if the frequent demands of Paul Krugman and others were met and the yuan rapidly appreciated another 15 or 20 percent, few industrial jobs would return to American shores, while working-class Americans might pay much more for their basic necessities. And if China opened wide its borders to more American movies or financial services, the multimillionaires of Hollywood and Wall Street might grow even richer, but ordinary Americans would see little benefit. It is always easier for a nation to point an accusing finger at foreigners rather than honestly admit that almost all its terrible problems are essentially self-inflicted.

Decay of Constitutional Democracy

The central theme of Why Nations Fail is that political institutions and the behavior of ruling elites largely determine the economic success or failure of countries. If most Americans have experienced virtually no economic gains for decades, perhaps we should cast our gaze at these factors in our own society.

Our elites boast about the greatness of our constitutional democracy, the wondrous human rights we enjoy, the freedom and rule of law that have long made America a light unto the nations of the world and a spiritual draw for oppressed peoples everywhere, including China itself. But are these claims actually correct? They often stack up very strangely when they appear in the opinion pages of our major newspapers, coming just after the news reporting, whose facts tell a very different story.

Just last year, the Obama administration initiated a massive months-long bombing campaign against the duly recognized government of Libya on "humanitarian" grounds, then argued with a straight face that a military effort comprising hundreds of bombing sorties and over a billion dollars in combat costs did not actually constitute "warfare," and hence was completely exempt from the established provisions of the Congressional War Powers Act. A few months later, Congress overwhelmingly passed and President Obama signed the National Defense Authorization Act, granting the president power to permanently imprison without trial or charges any American whom he classifies as a national-security threat based on his own judgment and secret evidence. When we consider that American society has experienced virtually no domestic terrorism during the past decade, we must wonder how long our remaining constitutional liberties would survive if we were facing frequent real-life attacks by an actual terrorist underground, such as had been the case for many years with the IRA in Britain, ETA in Spain, or the Red Brigades in Italy.

Most recently, President Obama and Attorney General Eric Holder have claimed the inherent right of an American president to summarily execute anyone anywhere in the world, American citizen or not, whom White House advisors have privately decided was a "bad person." While it is certainly true that major world governments have occasionally assassinated their political enemies abroad, I have never before heard these dark deeds publicly proclaimed as legitimate and aboveboard. Certainly if the governments of Russia or China, let alone Iran, declared their inherent right to kill anyone anywhere in the world whom they didn't like, our media pundits would immediately blast these statements as proof of their total criminal insanity.

These are very strange notions of the "rule of law" for the administration of a president who had once served as top editor of the Harvard Law Review and who was routinely flattered in his political campaigns by being described as a "constitutional scholar."

Many of these negative ideological trends have been absorbed and accepted by the popular culture and much of the American public. Over the last decade one of the highest-rated shows on American television was "24", created by Joel Surnow and chronicling Kiefer Sutherland as a patriotic but ruthless Secret Service agent, with each episode constituting a single hour of his desperate efforts to thwart terrorist plots and safeguard our national security. Numerous episodes featured our hero torturing suspected evildoers in order to extract the information necessary to save innocent lives, with the entire series representing a popular weekly glorification of graphic government torture on behalf of the greater good.

Now soft-headed protestations to the contrary, most governments around the world have at least occasionally practiced torture, especially when combating popular insurgencies, and some of the more brutal regimes, including Stalinist Russia and Nazi Germany, even professionalized the process. But such dark deeds done in secret were always vigorously denied in public, and the popular films and other media of Stalin's Soviet Union invariably featured pure-hearted workers and peasants bravely doing their honorable and patriotic duty for the Motherland, rather than the terrible torments being daily inflicted in the cellars of the Lubyanka prison. Throughout all of modern history, I am not aware of a single even semi-civilized country that publicly celebrated the activities of its professional government torturers in the popular media. Certainly such sentiments would have been totally abhorrent and unthinkable in the "conservative Hollywood" of the Cold War 1950s.

And since we live in a entertainment-dominated society, sentiments affirmed on the screen often have direct real-world consequences. At one point, senior American military and counter-terrorism officials felt the need to travel to Hollywood and urge its screenwriters to stop glorifying American torture, since their shows were encouraging U.S. soldiers to torture Muslim captives even when their commanding officers repeatedly ordered them not to do so.

Given these facts, we should hardly be surprised that international surveys over the past decade have regularly ranked America as the world's most hated major nation, a remarkable achievement given the dominant global role of American media and entertainment and also the enormous international sympathy that initially flowed to our country following the 9/11 attacks.

An Emerging One-Party State

So far at least, these extra-constitutional and often brutal methods have not been directed toward controlling America's own political system; we remain a democracy rather than a dictatorship. But does our current system actually possess the central feature of a true democracy, namely a high degree of popular influence over major government policies? Here the evidence seems more ambiguous.

Consider the pattern of the last decade. With two ruinous wars and a financial collapse to his record, George W. Bush was widely regarded as one of the most disastrous presidents in American history, and at times his public approval numbers sank to the lowest levels ever measured. The sweeping victory of his successor, Barack Obama, represented more a repudiation of Bush and his policies than anything else, and leading political activists, left and right alike, characterized Obama as Bush's absolute antithesis, both in background and in ideology. This sentiment was certainly shared abroad, with Obama being selected for the Nobel Peace Prize just months after entering office, based on the widespread assumption that he was certain to reverse most of the policies of his detested predecessor and restore America to sanity.

Yet almost none of these reversals took place. Instead, the continuity of administration policy has been so complete and so obvious that many critics now routinely speak of the Bush/Obama administration.

The harsh violations of constitutional principles and civil liberties which Bush pioneered following the 9/11 attacks have only further intensified under Obama, the heralded Harvard constitutional scholar and ardent civil libertarian, and this has occurred without the excuse of any major new terrorist attacks. During his Democratic primary campaign, Obama promised that he would move to end Bush's futile Iraq War immediately upon taking office, but instead large American forces remained in place for years until heavy pressure from the Iraqi government finally forced their removal; meanwhile, America's occupation army in Afghanistan actually tripled in size. The government bailout of the hated financial manipulators of Wall Street, begun under Bush, continued apace under Obama, with no serious attempts at either government prosecution or drastic reform. Americans are still mostly suffering through the worst economic downturn since the Great Depression, but Wall Street profits and multimillion-dollar bonuses soon returned to record levels.

In particular, the continuity of top officials has been remarkable. As Bush's second defense secretary, Robert Gates had been responsible for the ongoing management of America's foreign wars and military occupations since 2006; Obama kept him on, and he continued to play the same role in the new administration. Similarly, Timothy Geithner had been one of Bush's most senior financial appointments, playing a crucial role in the widely unpopular financial bailout of Wall Street; Obama promoted him to Treasury secretary and authorized continuation of those same policies. Ben Bernanke had been appointed chairman of the Federal Reserve by Bush and was reappointed by Obama. Bush wars and bailouts became Obama wars and bailouts. The American public voted for an anti-Bush, but got Bush's third term instead.

During the Cold War, Soviet propagandists routinely characterized our democracy as a sham, with the American public merely selecting which of the two intertwined branches of their single political party should alternate in office, while the actual underlying policies remained essentially unchanged, being decided and implemented by the same corrupt ruling class. This accusation may have been mostly false at the time it was made but seems disturbingly accurate today.

When times are hard and government policies are widely unpopular, but voters are only offered a choice between the rival slick marketing campaigns of Coke and Pepsi, cynicism can reach extreme proportions. Over the last year, surveys have shown that the public non-approval of Congress -- representing Washington's political establishment -- has ranged as high as 90–95 percent, which is completely unprecedented.

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But if our government policies are so broadly unpopular, why are we unable to change them through the sacred power of the vote? The answer is that America's system of government has increasingly morphed from being a representative democracy to becoming something closer to a mixture of plutocracy and mediacracy, with elections almost entirely determined by money and media, not necessarily in that order. Political leaders are made or broken depending on whether they receive the cash and visibility needed to win office.

National campaigns increasingly seem sordid reality shows for second-rate political celebrities, while our country continues along its path toward multiple looming calamities. Candidates who depart from the script or deviate from the elite D.C. consensus regarding wars or bailouts -- notably a principled ideologue such as Ron Paul -- are routinely stigmatized in the media as dangerous extremists or even entirely airbrushed out of campaign news coverage, as has been humorously highlighted by comedian Jon Stewart.

We know from the collapsed communist states of Eastern Europe that control over the media may determine public perceptions of reality, but it does not change the underlying reality itself, and reality usually has the last laugh. Economics Nobel Laureate Joseph Stiglitz and his colleagues have conservatively estimated the total long-term cost of our disastrous Iraq War at $3 trillion, representing over one-fifth of our entire accumulated national debt, or almost $30,000 per American household. And even now the direct ongoing costs of our Afghanistan War still run $120 billion per year, many times the size of Afghanistan's total GDP. Meanwhile, during these same years the international price of oil has risen from $25 to $125 per barrel -- partly as a consequence of these past military disruptions and growing fears of future ones -- thereby imposing gigantic economic costs upon our society.

And we suffer other costs as well. A recent New York Times story described the morale-building visit of Secretary of Defense Leon Panetta to our forces in Afghanistan and noted that all American troops had been required to surrender their weapons before attending his speech and none were allowed to remain armed in his vicinity. Such a command decision seems almost unprecedented in American history and does not reflect well upon the perceived state of our military morale.

Future historians may eventually regard these two failed wars, fought for entirely irrational reasons, as the proximate cause of America's financial and political collapse, representing the historical bookend to our World War II victory, which originally established American global dominance.

Our Extractive Elites

When parasitic elites govern a society along "extractive" lines, a central feature is the massive upward flow of extracted wealth, regardless of any contrary laws or regulations. Certainly America has experienced an enormous growth of officially tolerated corruption as our political system has increasingly consolidated into a one-party state controlled by a unified media-plutocracy.

Consider the late 2011 collapse of MF Global, a midsize but highly reputable brokerage firm. Although this debacle was far smaller than the Lehman bankruptcy or the Enron fraud, it effectively illustrates the incestuous activities of America's overlapping elites. Just a year earlier, Jon Corzine had been installed as CEO, following his terms as Democratic governor and U.S. senator from New Jersey and his previous career as CEO of Goldman Sachs. Perhaps no other American had such a combination of stellar political and financial credentials on his resume. Soon after taking the reins, Corzine decided to boost his company's profits by betting its entire capital and more against the possibility that any European countries might default on their national debts. When he lost that bet, his multi-billion-dollar firm tumbled into bankruptcy.

At this point, the story moves from a commonplace tale of Wall Street arrogance and greed into something out of the Twilight Zone, or perhaps Monty Python. The major newspapers began reporting that customer funds, eventually said to total $1.6 billion, had mysteriously disappeared during the collapse, and no one could determine what had become of them, a very strange claim in our age of massively computerized financial records. Weeks and eventually months passed, tens of millions of dollars were spent on armies of investigators and forensic accountants, but all those customer funds stayed "missing," while the elite media covered this bizarre situation in the most gingerly possible fashion. As an example, a front page Wall Street Journal story on February 23, 2012 suggested that after so many months, there seemed little likelihood that the disappeared customer funds might ever reappear, but also emphasized that absolutely no one was being accused of any wrongdoing. Presumably the journalists were suggesting that the $1.6 billion dollars of customer money had simply walked out the door on its own two feet.

Stories like this give the lie to the endless boasts of our politicians and business pundits that America's financial system is the most transparent and least corrupt in today's world. Certainly America is not unique in the existence of long-term corporate fraud, as was recently shown in the fall of Japan's Olympus Corporation following the discovery of more than a billion dollars in long-hidden investment losses. But when we consider the largest corporate collapses of the last decade that were substantially due to fraud, nearly all the names are American: WorldCom, Enron, Tyco, Global Crossing, and Adelphia. And this list leaves out all the American financial institutions destroyed by the financial meltdown -- such as Lehman, Bear Stearns, Merrill Lynch, Washington Mutual, and Wachovia -- and the many trillions of dollars in American homeowner equity and top-rated MBS securities which evaporated during that process. Meanwhile, the largest and longest Ponzi Scheme in world history, that of Bernie Madoff, had survived for decades under the very nose of the SEC, despite a long series of detailed warnings and complaints. The second largest such fraud, that of Allen R. Stanford, also bears the label "Made in the USA."

Some of the sources of Chinese success and American decay are not entirely mysterious. As it happens, the typical professional background of a member of China's political elite is engineering; they were taught to build things. Meanwhile, a remarkable fraction of America's political leadership class attended law school, where they were trained to argue effectively and to manipulate. Thus, we should not be greatly surprised that while China's leaders tend to build, America's leaders seem to prefer endless manipulation, whether of words, money, or people.

How corrupt is the American society fashioned by our current ruling elites? That question is perhaps more ambiguous than it might seem. According to the standard world rankings produced by Transparency International, the United States is a reasonably clean country, with corruption being considerably higher than in the nations of Northern Europe or elsewhere in the Anglosphere, but much lower than in most of the rest of the world, including China.

But I suspect that this one-dimensional metric fails to capture some of the central anomalies of America's current social dilemma. Unlike the situation in many Third World countries, American teachers and tax inspectors very rarely solicit bribes, and there is little overlap in personnel between our local police and the criminals whom they pursue. Most ordinary Americans are generally honest. So by these basic measures of day-to-day corruption, America is quite clean, not too different from Germany or Japan.

By contrast, local village authorities in China have a notorious tendency to seize public land and sell it to real estate developers for huge personal profits. This sort of daily misbehavior has produced an annual Chinese total of up to 90,000 so-called "mass incidents" -- public strikes, protests, or riots -- usually directed against corrupt local officials or businessmen.

However, although American micro-corruption is rare, we seem to suffer from appalling levels of macro-corruption, situations in which our various ruling elites squander or misappropriate tens or even hundreds of billions of dollars of our national wealth, sometimes doing so just barely on one side of technical legality and sometimes on the other.

Sweden is among the cleanest societies in Europe, while Sicily is perhaps the most corrupt. But suppose a large clan of ruthless Sicilian Mafiosi moved to Sweden and somehow managed to gain control of its government. On a day-to-day basis, little would change, with Swedish traffic policemen and building inspectors performing their duties with the same sort of incorruptible efficiency as before, and I suspect that Sweden's Transparency International rankings would scarcely decline. But meanwhile, a large fraction of Sweden's accumulated national wealth might gradually be stolen and transferred to secret Cayman Islands bank accounts, or invested in Latin American drug cartels, and eventually the entire plundered economy would collapse.

Ordinary Americans who work hard and seek to earn an honest living for themselves and their families appear to be suffering the ill effects of exactly this same sort of elite-driven economic pillage. The roots of our national decline will be found at the very top of our society, among the One Percent, or more likely the 0.1 percent.

Thus, the ideas presented in Why Nations Fail seem both true and false. The claim that harmful political institutions and corrupt elites can inflict huge economic damage upon a society seems absolutely correct. But while the authors turn a harsh eye toward elite misbehavior across time and space -- from ancient Rome to Czarist Russia to rising China -- their vision seems to turn rosy-tinted when they consider present-day America, the society in which they themselves live and whose ruling elites lavishly fund the academic institutions with which they are affiliated. Given the American realities of the last dozen years, it is quite remarkable that the scholars who wrote a book entitled Why Nations Fail never glanced outside their own office windows.

A similar dangerous reticence may afflict most of our media, which appears much more eager to focus on self-inflicted disasters in foreign countries than on those here at home. Presented below is a companion case-study, " Chinese Melamine and American Vioxx: A Comparison ," in which I point out that while the American media a few years ago joined its Chinese counterparts in devoting enormous coverage to the deaths of a few Chinese children from tainted infant formula, it paid relatively little attention to a somewhat similar domestic public-health disaster that killed many tens or even hundreds of thousands of Americans.

A society's media and academic organs constitute the sensory apparatus and central nervous system of its body politic, and if the information these provide is seriously misleading, looming dangers may fester and grow. A media and academy that are highly corrupt or dishonest constitute a deadly national peril. And although the political leadership of undemocratic China might dearly wish to hide all its major mistakes, its crude propaganda machinery often fails at this self-destructive task. But America's own societal information system is vastly more skilled and experienced in shaping reality to meet the needs of business and government leaders, and this very success does tremendous damage to our country.

Perhaps Americans really do prefer that their broadcasters provide Happy News and that their political campaigns constitute amusing reality shows. Certainly the cheering coliseum crowds of the Roman Empire favored their bread and circuses over the difficult and dangerous tasks that their ancestors had undertaken during Rome's rise to world greatness. And so long as we can continue to trade bits of printed paper carrying presidential portraits for flat-screen TVs from Chinese factories, perhaps all is well and no one need be too concerned about the apparent course of our national trajectory, least of all our political leadership class.

But if so, then we must admit that Richard Lynn, a prominent British scholar, has been correct in predicting for a decade or longer that the global dominance of the European-derived peoples is rapidly drawing to its end and within the foreseeable future the torch of human progress and world leadership will inevitably pass into Chinese hands.

Ron Unz is publisher of The American Conservative and founder of Unz.org .


Sean Scallon , says: Website Show Comment April 18, 2012 at 5:11 pm GMT

Very good piece and very perceptive about reality in the U.S.
Jack Ross , says: Show Comment April 18, 2012 at 6:43 pm GMT
Definitely on the money regarding the U.S., I'm not sure the outlook for China though is quite so rosy. I fear you made a serious mistake of burying the lead. That said, one other issue you should have mentioned is the way the two major parties monopolize access to the ballot, as discussed in a recent Al Jazeera series on the frauds of American democracy.
platocrat , says: Show Comment April 18, 2012 at 9:44 pm GMT
"Certainly America has experienced an enormous growth of officially tolerated corruption as our political system has increasingly consolidated into a one-party state controlled by a unified media-plutocracy."

In a nutshell.

JonF , says: Show Comment April 18, 2012 at 9:57 pm GMT
Re: This failure suggests another reason for the decay of US (and Western European) society: political correctness

Huh? And while demographics may not be destiny, demography should not be ignored either. The US is likely to have a younger population structure than China which, as others have noted, is going to grow old without first growing rich– not an enviable situation. Moreover that population is likely to include a fair number of unmarried men for whom no women are available. That's pretty muich unprecedented in history (although the reverse has occasionally happened due to wars), and I have no idea how it will play out, but I suspect it will not be a mark in China's plus column.

This piece whistewashes China's enormous challenges while exaggerating America's. That's not to say we have no challenges nor that China does not have its strengths. Still, I would sooner bet the farm on the US coming through this century without major political calamity than China doing so. (Note: I said "calamity", I did not say "change". Both countries, will need to change a lot– something true of the whole world)

Dave , says: Show Comment April 19, 2012 at 12:23 am GMT
1/ I saw this movie before-in the '70's. Only then 'China' was called 'Japan'.

2/ As to history and the 2 party system, nothing new:

Gates was Bush's Sec'y of Defense and became Obama's Sec'y of Defense.

Stanton was Buchanan's Sec'y of War and became Lincoln's Sec'y of War.

And America has always had its plunderers-see the Gilded Age-Jay Gould (et al) plundered as do today's plutocrats.

And American governments have gone around killing US citizens without seriously attempting to arrest them (see J Dillinger, C Barrow, B Parker)

Bob Arctor , says: Show Comment April 19, 2012 at 2:49 am GMT
America's worse than third world style population growth isn't an advantage in any way, shape or form. Firstly, energy availability (and not labor) will be the bounding factor for economic growth over the next few decades, and secondly the only sectors of the population that are growing are those with the absolute least level of relevant skills that will be needed in years that are to come.

No other developed nation, save almost empty Canada and Austrailia, have ever seen massive population growth such as this.

Bob Arctor , says: Show Comment April 19, 2012 at 3:31 am GMT
Japan and China is not remotely a fair comparison – Japan has only 127 million people whereas China has 1331 million people. When China reaches American levels of economic development, as Japan did in the 1980's, the implications for America, both political and economic, are going to be vastly more severe than they were when Japan emerged as a developed nation. Think of 2030 China as being ten and a half 2012 Japans to get an rough idea of what's coming.

JonF:

A good number of hunter gatherer societies that survived into modern times, such as the Yanomano in South America, had much more lopsided sex ratios than China does today. This isn't new.

JonF , says: Show Comment April 19, 2012 at 10:07 am GMT
Bob Arctor,

Yes, some societies have had an excess of women after many men have been killed in warfare: Germany and France after WWI, or the American South after the Civil War. But an excess of men is pretty much unprecedented.

Jamie , says: Website Show Comment April 19, 2012 at 12:43 pm GMT
America has become the most hated country on earth along with Israel,and the tyranicle government that controlls the country with all their crimes and lies will make America a country no smart person would want to be a citizen.America can do better if people wake up to the coruption and stop spending as much as the rest of the world on their military.It's not a matter of if but when China becomes the biggest economy,but also the strongest military by far on earth.I just hope China don't act like the American criminal government wasting tax payers money on illegal wars baised on lies.It's been happening for over 100 years,but know they do it in the open and have tottaly ignored the constitution.The 1 thing that made America great was the constitution and as time goes by it is ignored to the point the rest of the world and Americans see that America has no high ground,unless you call mudering innocent civilians in illegal wars.America is bankrupt and when they can no longer afford to bribe others it will collapes and the hatred it has caused for it'self will turn the entire world against it.Even Israel will no longer be because of their warmongering and raceist government.
Anonymous Disclaimer , says: Website Show Comment April 19, 2012 at 3:50 pm GMT
The subtitle, "Which superpower is more threatened by its "extractive elites"?" reflects what I believe is the most important political issue of the times. As one commenter pointed out above, really there is nothing all that different now. I suspect this is largely true in that 'the masses' have usually lived many steps removed from understanding what is 'really going on.' However today we are all linked on the material plane through electronic communication and transportation in a way that before was never possible in that most ordinary people lived nearly all of their lives bounded within a very small geographical, aka 'local' area. They were place-bound, in other words. Now we are not. And because we are not the opportunity and scope for mass deception have greatly increased along with the ability of ruling elites to be more and more extractive.

I suspect you could almost make a mathematical formula out of it along the lines of: S = F+O * (E/C), where S = Society or Stable & Sane Society, F = Freedom (opportunity, creativity etc.), O = Organisation (cultural institutions of education, governance, manners, language, both in terms of efficiency and levels of corruption/deceit etc. ), E = Elites/Leadership class and C = Checks and Balances.

Something like that. Assuming a scale of 1-100 in each case, in the US I think it is about: S = 70+50 * (95/35) = 120 * 2.7 = 325.7.

China: S = 45+65(110) * (75/50) = 100* 1.5 = 150.

China has 45 F-freedom to US 70.
China has 65 O-Organisation to US 50.
China has 75 E-Elites to US 95.
China has 50 C-Checks to US 35.

All of these are highly arguable of course but I think most would agree their freedom quotient is lower, albeit the US has some of the worst upward / class mobility figures in the West as a 10-year NYT study showed a while back.
China seems to have far greater organisational skills, as witnessed by their development of high speed rail of late, which the US is incapable of doing.
Because of much greater power on the local level, I have given Chinese Elites a lower score even though if we were to believe our own media, you would think that the US doesn't really have any elites and China is a monolithic top-down beast.
For the same reason, I put in more Checks for China since I believe their people demonstrate and organise far more energetically than those in the West, and that the Elites have to pay far more attention to them. This is a wild guess.

Ken Zaretzke , says: Show Comment April 19, 2012 at 6:30 pm GMT
The notion of "extractive elites" inadvertently wrecking their own country's future prospects is rich with irony -- of the Alfred E. Neumann kind ("What, me worry?"). What about the extraction of coal? It is the U.S. that is bribing China with coal exports -- America's relatively most abundant natural resource -- so that the Chinese will tolerate America's fiscal irresponsibility by continuing to prop up the dollar. Six months ago I sent a letter about this to my local county council, which will decide in the next year whether to allow the largest coal terminal in North America to be built (at the behest of Goldman Sachs, among others) just a few miles from where I was living until recently, in the idyllic town of Ferndale, WA. I maintained that one doesn't need to be a Green Party member in order to oppose the coal terminal project -- any ardent nationalist worth his salt can, and ought to, oppose it tooth and nail.

Coal terminals which make possible the shipping of millions of tons of coal to China would be a disaster on several counts. Symbolically and as a matter of policy, the coal exports would demonstrate America's economic subjection to China, the "Caesar" to whom we would be paying tribute. Environmentally, the mercury and other pollution will drift back across the Atlantic to the Pacific Northwest. These are just two of the problems. So why is the Republican Party bending over backwards to join Peabody Coal and Goldman Sachs in trying to build the largest coal terminal on the continent in Whatcom County, and other terminals elsewhere in Washington and Oregon? What besides money, greed, and shortsightedness is behind conservatives' obliviousness to the long-term dangers, both real and symbolic, of America's bowing down to China with massive coal exports?

The Stupid Party, indeed

Anonymous Disclaimer , says: Show Comment April 19, 2012 at 6:49 pm GMT
Thank you for an excellent article on what is happening. My only criticism is that it appears that these things "just happen". With your insight and erudition, could you please address "why" the situation has arisen. What could be the motivation behind actions and policies which so clearly will destroy not only the 99% but also the basic wealth of the1%?

This is not something new, but a recurrent theme in world affairs.

Many thanks

Anonymous Disclaimer , says: Show Comment April 20, 2012 at 12:09 am GMT
Excellent, excellent article by Unz.

Acemoglu and Robinson "characterize China's ruling elites as "extractive" -- parasitic and corrupt -- and predict that Chinese economic growth will soon falter and decline" China's ruling elites! China's ruling elites are extractive, parasitic & corrupt!

Bwaaahaaahaaahaaaa

What are Acemoglu and Robinson on? Crack? LSD? Crystal Meth?

China's ruling elites are frigging angels and saints compared to the monsters, maniacs and morons creating misery amidst colossal wealth (stolen by them) in the USA. The US elite is a parasite so bloated and stupid it is killing its host and maybe the rest of the planet too.

Anonymous Disclaimer , says: Show Comment April 20, 2012 at 3:14 am GMT
The state of US politics can only be accurately described as self-destructive. The government's hubris is bringing down the foundations of the economy, and it's only a matter of time before we end up living in the ruins of a dead civilization.

The basic fact that supports any capitalist system, is that increasing productivity will increase wealth, that is, real wealth. Huge military expenditures all towards the goal of keeping raw resources a little bit cheaper, and a financial structure increasingly designed to encourage making money from money, are absolutely insane. This is Ancient Rome all over again.

The issues of energy and pollution are serious enough to threaten the global economy in the long-term, but the social system here doesn't sufficiently support innovation to do much about them. How is America supposed to be competitive in the future if we don't?

For example, we're not going to "run out" of oil any time soon, but when it comes primarily from tar sands and underwater drilling, it's going to be tremendously expensive, and with more expensive energy, our standard of living will decline. Other common energy sources have the same problem. Common sense dictates that we innovate ahead of time. The possibility of resource substitution doesn't happen by magic. But of course, that would require an conscious investment in that direction.

And as for pollution, maybe high-speed rail and electric cars are part of a solution, maybe they're not, as some commenters have suggested, but what's definitely not a solution is not trying anything all. We need clean air and clean water, or else we'll die. Our food sources do, too.

And it's not entirely obvious to people who don't read about what makes China attractive for investment, but it's not solely cheap labor. (In fact, Chinese labor is more expensive than in, say, India or Bangladesh. Not to mention that Chinese bureaucracy is not all that easy to deal with!) China has constructed highly attractive logistics systems, and has an increasingly educated and disciplined labor force. In America, we have infrastructure that's becoming obsolete, and an education system that produces a lot of stupid citizens who have no idea how to create value. With the latter, it's no wonder we have an "entitlement culture."

If this all doesn't change, I'm not sticking around, waiting for this ship to sink.

Anonymous Disclaimer , says: Show Comment April 20, 2012 at 3:47 am GMT
Finally! A Conservative who tells the truth. Sir, you and Paul Craig Roberts are just the men to lead the GOP out of the wilderness and back to sanity.

Your words coincide with the words of pissed off Progressives (such as myself) and the youth at OWS movements.

We need more honesty from your side, such as Buddy Roehmer offered before the recent GOP primary devolved into the Clown Reality Show which avoided hard topics such as these you've addressed head on in "China's Rise, America's Fall".

If the GOP has no room for you, Mr. Unz, maybe you should join the Green Party or help concerned Americans from both sides start a new party. Just a thought.

Your honesty is courageous. And I believe when the Neo-Cons and Oligarchs on the Right read your words, you'll be in for a rough ride with Rush and Faux News. Stay the course. Stay true to what you have written here. Courage.

Just this one piece you have written will move me to subscribe to your magazine, a first for me, subscribing to a magazine with the word "Conservative" in it.

Teddy Roosevelt, Dwight Eisenhower, Abraham Lincoln and Barry Goldwater would be proud of what you wrote, Sir. As would Martin Luther King, John F. Kennedy, and Franklin D. Roosevelt.

Rock Trueblood

Vickie , says: Show Comment April 20, 2012 at 2:38 pm GMT
Hopefully China will continue to improve and the people there get more freedom. However, the Tienanmen Square incident is not a small thing. I suspect the elites in China have no more respect for their people than ours do. Infanticide, forced abortion and summary execution are not policies to emulate. What the west has, the importance of the individual, the idea that the State is supposed to be subservient to a higher law are not ideas to trade away for a mess of pottage.

I do agree, however with earlier commentators about American lack of discipline. Years ago, cutting through the Engineering School at Rutgers, I was struck that the vast majority of students were foreigners, mostly Asian. Americans at that time just went to school to party.

Anonymous Disclaimer , says: Show Comment April 20, 2012 at 3:14 pm GMT
With her extractive elites America has taken a different path but has, ironically, arrived at the same terminus as the old Soviet Union: Too much economic power in the hands of too few.
Steve Roth , says: Website Show Comment April 20, 2012 at 5:48 pm GMT
I find it amazing what is not mentioned here: that the dynamic of extractive elites being described started its rapid upward trajectory at exactly the time that Reagan "conservative" policies came to dominate public policy discourse.
James Canning , says: Show Comment April 20, 2012 at 11:06 pm GMT
To some extent, the relative decline of the US economically owes a good deal to idiotic levels of spending on "defence". Trillions of dollars have been squandered over the past two or three decades.
James Canning , says: Show Comment April 20, 2012 at 11:07 pm GMT
Kolya – – The Soviet Union spent far too much on "defense". Putin has noted this fact as partly explaining the collapse of the USSR.
Matt says: Show Comment April 21, 2012 at 10:14 am GMT
The author has forgotten to mention race and diversity as a factor that ensures America will not rise again. China is an homogeneous country with no need of a parasitic diversity industry hovering overhead trying to enforce its ideas of what any given activity should 'look like'. Chinese have an average intelligence above that of whites and are not saddled with untold millions of low IQ third world people hanging like a millstone round their necks. An entirely white America might have had half a chance of keeping pace with Chinese growth, but today's America has no chance at all.
Anonymous Disclaimer , says: Website Show Comment April 21, 2012 at 12:42 pm GMT
Thanks – this piece is right on target, and revealed to me a good deal of economic chicanery of which I had previously been unaware.

...... ...

A. Aftab , says: Show Comment April 21, 2012 at 1:00 pm GMT
Calgacus, you're right on the money with that comment of yours! A lot of wealthy Americans now live in Costa Rica, HK, Thailand and Malaysia and AUS/NZ. Donald Trump has been investing in Costa Rica very heavily ..and there are probably thousands of other billionaires doing the same.

In case people here haven't noticed, a lot of our super elites have been leaving the U.S. in droves, due to the disproportionally high taxes levied on them now. They are doing this because they are smarter than the rest of us. This started 5 years ago just before the housing crash. Probably has accelerated since 2010 where this article is from.

Have a whiff folks:

http://actionamerica.org/taxecon/ticktick.shtml

And also these:

It's becoming a joke Calgacus ..you're right some of these comments here seem to be absolutely retarded!

A good reality check on the economic situation is to ask around your friends and relatives on whose making the big money now! ..The answer will be pretty obvious.

Anonymous Disclaimer , says: Show Comment April 21, 2012 at 9:50 pm GMT
Even if China's economy outgrows ours, it would have to be 4x as large as the US economy to match it's per capita income. The Chinese know that they are running against the clock to modernize it's economy.

They're nowhere near as energy efficient in their manufacturing processes and they are burning through their profits to build a big enough energy infrastructure to meet the economic growth needs.

SinoPec is already partnered with ArAmCo and Exxon to build refineries in China which means those Western Companies are already raiding the Chinese treasure chest. GM and Walmart aren't selling their products for free, either. In other words, China has been caught in the global economic web and they're going to get played just like everybody else.

James Guest , says: Show Comment April 22, 2012 at 5:05 am GMT
Two questions.

Does the US not suffer a serioius political Catch 22? You could clean up much of the excessive influence of money for campaigning and the targeting of self-interest simply to get people to bother to vote by adopting the compulsory voting which means that, in Australia, about 90 per cent of those eligible do vote. But what would it do to actual policy when you have such a high proportion of poorly educated and ethnically disaffected poor people with existing entitlements which cause resentment amongst what was once middle America?

And here is an issue for serious empirical study. Why should a great concentration of wealth in the hands of the 1 per cent, or 5 per cent, or 0.1 per cent matter? It is perfectly clear that the very very rich don't consume significantly more of anything scarce or particularly valuable unless one counts the economically painless transfer or Titians and Tintorettos from one billionaired to another before ending up in a public gallery. It is obviously not impossible for a large super-rich class to so indulge themselves in competitive display by building palatial residences, private airstrips and golf courses and so on, that their country's economy is starved of attention and capital. But any suggestion that such a situation is to be found in the US needs to be demonstrated. It seems more likely that high taxes and regulatory burdens are adding so much to the cost of doing business in the US and even driving entrepreneurs to set up elsewhere, so that the owners of capital are not deploying it to the greatest advantage of US citizens. Yet that hypothesis doesn't stand well with the number of Australian software entrepreneurs who leave a country where it is very easy and quick to start a business doesn't have too punitive a tax regime to start or restart in California where public finances are such a threatening mess.

If the US then is still a good place to deploy one's capital in order to make a lot of money (and not do it entirely by Wall Street fiddles) and there are large concentrations of wealth which means large concentrations of investable capital what is the problem? Clearly it is what is being done to the average American of no special talent, intelligence, education or skill whose income is no longer supported by the advantages America had for many years after WW2 and is being suppressed by high immigration. To an outsider it is slightly less clear that the situation is made almost intolerable for the squeezed middle classes by tax burdens which are not fairly born by the very rich. It is perhaps a little more certain that the cost of living of the squeezed middle, including the absurdly high costs of health care, are inflated damagingly by the transfer payments to the under classes and elderly poor which don't give much benefit to the working poor unless one puts a high value on the contribution of their state sales taxes to the keeping of aggressive or hopeless young males in prison ..

Anonymous Disclaimer , says: Show Comment April 22, 2012 at 8:04 am GMT
China is not to blame for America's decline, America has to face its own ghosts; the 15 trillion dollars debt, the unemployment, inequality, huge military spending, endless wars that is what you have to confront.

Blaming others for Americas decline is not the solution. Be A man america and pick yourself,learn from your mistakes and move on

denk , says: Show Comment April 22, 2012 at 2:38 pm GMT
china is governed by engineers. amerika is ruled by banksters, lawyers. http://tinyurl.com/6n2f5ho
Anonymous Disclaimer , says: Show Comment April 22, 2012 at 7:29 pm GMT
Another blogger jumping on the bandwagon. So easy to say using numbers without any understanding that numbers don't rule the world – to the dismay of mathematicians everywhere.

None of this takes into account that most of China's population lives in poverty. And if our own "War on Poverty" taught us anything is that their poor will remain poor for a very long time.

There's also no consideration that China is [still] a Communist country. This experiment simply gained them a bypass in the militarization highway. They needed to up their might quicker.

It doesn't take into consideration that their 5,000yo culture doesn't celebrate individuality -never has- and this means the creativity needed to push forth on the leaderboard is nonexistent. In fact, the most creative Chinese are those that come to the USA. You can't lead by proxy.

I am not amazed that the China-uber-allez belief is a conservative thing. Just by definition they cannot forecast the future. The future is full of X factors. X is at the core of America. Your insular perspective of what this nation is all about and what makes it tick make you the LAST ones who will decide where this country goes. I know you're just dying to sell it to someone else before the price goes down. But you, and some of your commentors, have no idea the self-contained power America holds.

PS: having lived in third world countries I can give you a warning if you're thinking of moving to Costa Rica or similar places. The people there don't like loaded-freeloaders. Most of your retirement will be spent on security. And just wait 'til you get your first emergency. Seriously, you're going to be waiting a good while. America still has the best GOVERNMENTAL services in the WORLD. Ouch I said the "G" word. Little known secret: Libertarians don't turn down fast rides to the hospital.

John Finnerty , says: Show Comment April 22, 2012 at 7:46 pm GMT
Never was a piece written so needed to be read. We are a one party country. We are totally failed by our media for the "most" part. God how is Corzine walking around . Why did no one on MSNBC challenge Obama on pulling out of Iraq. The Democratic Party promised in 96 if they got control of both Houses of Congress they would end Iraq. Where are you MSNBC, Ed, Rachel, "Mathews forget Mathews he's been in ther tank for either Party in the White House for years" and the loser on at 10 I can't even remember his name.

Then the Attorney General has he arrested anybody? His only claim to work is the ridiculous suit again Sheriff Arpaio. Holder is beyond doubt the worst AG in decades.

Also finally again someone stated the wealth of the upper 1% compared to the bottom 95% . It is time to throw the bums out in both parties. Obama has got to go we need change even if it fails like him. We are in sad shape how many know friends working endless hours of over time not to be payed for it or hanging on not sure if their job will be there next Monday. It's sad how did they ruined our Country. Buchanan is canned for his book, because it's racist give me a break. Pathetic!!!

Felipe , says: Show Comment April 24, 2012 at 3:49 am GMT
Interesting comments from folks. As one who left the U.S. in dismay and disgust at the depths to which the George W. Bush administration dragged the U.S. and at his election (not re-election since he was not elected in 2000 but appointed by the Supreme Court) in 2004 and one who returned a year ago mostly due to the hope engendered by Obama's election, I tend to be more optimistic about the U.S. but only if we are able to challenge the dark forces that keep the majority of U.S. voters in a state of ignorance and anxiety.

The main challenge right now, as I see it, is to get a constitutional amendment passed that overturns the "Corporations are people, money is free speech" absurd court rulings as, if these are left to stand, will destroy the U.S. faster than a thermonuclear attack. The U.S. has overcome adversity before. We tend to solve problems pretty well when we know what they are and when we're agreed upon what they are. Right now, folks are puzzled and confused about the way forward. And the small size of Obama's successes are a testament not to failings on his part but to the appalling state of the system in which he's forced to operate and the enormous power of forces much bigger than he is. We are ruled by unelected corporations whose Boards pre-select candidates from whom we elect 'freely'.

We are all responsbible for allowing the system to deteriorate this far and for allowing its continuation. But America has come through before why all the doom and gloom now? As an aside, I agree with those who see our continuing and increasing diversity and large-scale immigration as our greatest strengths and these should be nurtured and treasured, not feared. Nobody ever moved forward from a position of fear. Fear can only lead us backward.

Bob Arctor , says: Show Comment April 24, 2012 at 7:18 am GMT
Felipe:

Funnily enough, Japan, Korea, Taiwan and and a score of European nations managed to build First World economies with negligible diversity. It's also rather peculiar that the much less diverse "America" of decades past had a much stronger economy than does modern day America, or that non-diverse China is progressing economically much, much faster than insanely diverse India.

It's almost as if diversity is utterly and completely worthless. I wonder why that is

Anonymous Disclaimer , says: Show Comment September 13, 2012 at 1:04 am GMT
From the CIA Factbook:

China 91% "Han", 9% Other (Korean, TIbetan, & 53 others comprising a total population of 105 million people)
Languages: 7 major language groups (Jin, Wu, Yue, Min, Xiang, Hakka, Gan) comprising hundreds of dialects and sub-languages

USA 80% White, 12% Black, 8% Other
Languages: 82% English, 10% Spanish, 8% Other

So it seems to me that the USA is only slightly more "diverse" than China in percentage terms when you spell things out in terms of Black and White. However, looking at the cultural variations and especially language, it becomes quite clear that the designation of "Han Chinese" is as meaningful or meaningless as the designation "White American."

I agree however that a nation unable to cope with its own diversity and the challenges it presents by discarding bigotry is doomed to failure.

Marie Arouet , says: Show Comment July 17, 2013 at 5:18 am GMT

Ron,

You might be interested to mention next time that China has overtaken the United States in patent filings, utility model patents, industrial design patents, trade mark filings, as well as scientific paper publications.

Mark Green , says: Website Show Comment February 5, 2014 at 6:31 am GMT
Hi Ron. That was yet another outstanding overview and analysis. Well done!

You have provided your readers a very nuanced view of the countless variables – some intangible, many virtually invisible – that propel a civilization forward, or even over a cliff. There's much to contemplate here. Thank you!

Anonymous Disclaimer , says: Show Comment February 6, 2014 at 5:02 pm GMT
What makes a state fall is well described in "the rise and decline of great powers" and it is related with spending money on missiles and the like.

When a state or country begins to spend more money than the amount she gets in return for the expenses, she is doomed. perhaps America will retain much of her power but she is doomed as far as i understand.

Robert Anderson , says: Show Comment February 25, 2014 at 10:43 pm GMT
The US is an plutocracy, not a democracy.
B-Real , says: Show Comment March 18, 2014 at 8:13 pm GMT
A great analysis. The decline of the US and the rest of the west reminds me of the Fall of the Roman Empire, but I'll have to a little bit more reading to back that up.

And by the way: Remember to be a little bit proud every day of the way you are spending your money. Sites like this is increasingly important in the Age of Misinformation.

conatus , says: Show Comment June 5, 2014 at 2:41 pm GMT
Wow! only four comments! This is an eye opening essay. Our elite are lawyers and they manipulate, China's elite are engineers and they build things. Three trillion on Bush's stupid wars('fought for completely irrational reasons") and our non participating(no draft) populace quietly went along with the entire show! Why?

Mr. Unz said, "And since we live in a entertainment-dominated society, sentiments affirmed on then screen often have direct real-world consequences."

Double Wow or bow-wow, great point!

I also think we are encouraged NOT to participate in the Democratic process as that seems 'angry.' We are shown that in our entertainment.
People who complain about the way-things-are-now are party p0opers and impolite. The first media approved reaction is to scoff and then shun them.

I also think the only safe topic 0f conversation around the water cooler is sports. Again, no politics allowed, unless you are an approved victim. But generally the major league sports of baseball, football and basketball are THE only thing you can talk about publicly, on which you can safely agree. The racial divisions we have created with our blessed multiculturalism, have starkly different interests and the differences are too real in the workplace to discuss them so we all act like Putnam's turtles and talk NFL training camp lingo.

As long as our GDP increases one per cent a year and six-packs of beer are available for Joe Six-pack, everything will be fine, but if the increase turns to a decrease watch out!

redzengenoist , says: Show Comment June 12, 2014 at 9:03 am GMT
"Sweden is among the cleanest societies in Europe, while Sicily is perhaps the most corrupt. But suppose a large clan of ruthless Sicilian Mafiosi moved to Sweden and somehow managed to gain control of its government. On a day-to-day basis, little would change, with Swedish traffic policemen and building inspectors performing their duties with the same sort of incorruptible efficiency as before, and I suspect that Sweden's Transparency International rankings would scarcely decline. But meanwhile, a large fraction of Sweden's accumulated national wealth might gradually be stolen and transferred to secret Cayman Islands bank accounts, or invested in Latin American drug cartels, and eventually the entire plundered economy would collapse."

It's happening in Sweden, unfortunately.

In Iceland, it already happened, over a very short span of time. But the Icelandic native populace literally ejected them corporally from the govt. buildings, and now the heads of the major banks have been criminally sentenced and imprisoned, Iceland has the only PM to have been criminally convicted in the financial crisis. Dire predictions by other mafiosi of economic meltdown as a consequence of the "too big to fail" going to jail have yet to materialise, Iceland is doing fine.

Randal , says: Show Comment March 13, 2017 at 1:15 pm GMT
Excellent piece.

Some of the sources of Chinese success and American decay are not entirely mysterious. As it happens, the typical professional background of a member of China's political elite is engineering; they were taught to build things. Meanwhile, a remarkable fraction of America's political leadership class attended law school, where they were trained to argue effectively and to manipulate. Thus, we should not be greatly surprised that while China's leaders tend to build, America's leaders seem to prefer endless manipulation, whether of words, money, or people.

Great stuff.

It's also noticeable that when China creates a "crisis" it's by building new land, whereas the US creates crises by fomenting strife and bombing. Construction versus destruction seems to be a theme.

Agent76 , says: Show Comment March 13, 2017 at 7:15 pm GMT
Aug 26, 2015 How the West Re-colonized China

The "Chinese dragon" of the last two decades may be faltering but it is still hailed by many as an economic miracle.

Far from a great advance for Chinese workers, however, it is the direct result of a consolidation of power in the hands of a small clique of powerful families, families that have actively collaborated with Western financial oligarchs.

https://www.youtube.com/embed/WxFSvPUY_oc?feature=oembed

9/11 Inside job , says: Show Comment April 29, 2020 at 12:04 pm GMT
newsbud.com ;

"The Rockefellers and Rothschilds in China :a long intimate relationship" :

"The history of Wall Street and Anglo-American finance in China is one that is rarely discussed in Western media or even academia , whereas knowing it would explain much about both China's stunning economic rise over the past 70 years ,as well as seemingly rising tensions between China and the US today."

Johnny Walker Read , says: Show Comment April 29, 2020 at 1:50 pm GMT
I must say Ron made many good points and predictions in his article of several years ago. America has been a clown world of a one-party political system since the end of WWII.

Never before has it been so obvious we have a government of, by, and for the rich corporate kleptocrat's who control every aspect of life in this country.

... ... ...

[Apr 27, 2020] Pandemic Exposes Liberalism's Free Trade, Open Borders Road To National Suicide by Martin Sieff

Notable quotes:
"... Countries that have allowed their domestic industry to decay have found they cannot now produce the crucial equipment they need, from respirators to gas masks. Countries with strong manufacturing bases like China, or with a prudent nationalist sense of preparing ahead for emergencies like Russia, have done far better. The shortage of respirators in Britain has become more than a national scandal: It is a national shame. That is another inexorable consequence of the pernicious doctrine of Free Trade. ..."
"... While half the counties in the United States remain so far virtually free of the virus, infections have soared in most major metropolitan areas, especially in so-called Sanctuary cities. Invariably these centers are ruled by liberal Democrats where illegal immigrants congregate. ..."
"... the ruling elites of the West have mindlessly embraced Open Borders and Free Trade ..."
"... Russia suffered the full horrors of the merciless laissez-faire, unregulated Free Market policies of the liberal West in the 1990s. Boris Yeltsin never woke up to the catastrophe that Bill Clinton and Larry Summers were inflicting on his country. ..."
"... National social responsibility has succeeded where the crazed, simplistic theories of Adam Smith, David Ricardo and Ayn Rand all palpably failed. ..."
"... The ravages of Liberalism – its Open Borders and Free Markets – have already stripped the West of all its defenses, social, demographic, industrial and economic. ..."
"... open border free trade globalism was an EPIC scam foisted on us ..."
"... Liberals have been selling out American workers for decades, and getting personally wealthy the whole time. Bill, Hillary, Barack, now Joe. ..."
"... This is not a coincidence. The worst part is how they profess to care so much about the underprivileged, unless that person is a worker put out of a job by imports. What a bunch of sleaze balls. ..."
"... NWO Billionaire Globalists have imposed this nightmare on the USA and other citizens of the Western world. ..."
Apr 27, 2020 | www.zerohedge.com

Authored by Martin Sieff via The Strategic Culture Foundation,

Open Borders and Free Trade induce national suicide slowly and gradually, without the victims waking up to what is going on until it is too late. But the coronavirus has brought home with global clarity that human societies need governments and regulated borders for their own survival.

The bottom line is clear, societies that have had open borders to previous major centers of infection and transmission, like Iran and Italy which kept open strong flows of people to and from China in the early stages of pandemic, suffered exceptionally badly.

Countries obsessed with maintaining liberal values and open borders like France, Germany, the United Kingdom and the U.S. also suffered disproportionately.

Countries that have allowed their domestic industry to decay have found they cannot now produce the crucial equipment they need, from respirators to gas masks. Countries with strong manufacturing bases like China, or with a prudent nationalist sense of preparing ahead for emergencies like Russia, have done far better. The shortage of respirators in Britain has become more than a national scandal: It is a national shame. That is another inexorable consequence of the pernicious doctrine of Free Trade.

I documented this history in some detail in my 2012 book " That Should Still Be Us ".

There, I showed how even the French Revolution of 1789 was in fact triggered by the catastrophic Free Trade Treaty that hapless King Louis XVI approved with England only three years before. It led immediately to the worst economic depression in French history which triggered revolution. In three years, liberal Free Trade succeeded in destroying a society that had flourished for a thousand years and the most powerful state Europe had known since the fall of the Roman Empire.

In his classic television series and accompanying book "How the Universe Changed", the great British broadcaster and historian James Burke showed how the discipline of statistics was responsible for discovering the way the cholera bacteria spread through contaminated water in 19th Century London, then the largest urban area ever experienced.

Today, we see a similar pattern in the spread of the coronavirus: While half the counties in the United States remain so far virtually free of the virus, infections have soared in most major metropolitan areas, especially in so-called Sanctuary cities. Invariably these centers are ruled by liberal Democrats where illegal immigrants congregate. They are the places where the values and consequences of Free Trade and Open Borders most clearly flourish. And they ar ealso the places where the terrifying costs of those policies are most evident as well. The chickens have come home to roost.

Countries like Russia and China itself, which have reacted most quickly and decisively to shut down international and domestic travel, have been able to keep their numbers of infections and rates of spread down.

In Europe, by contrast, the impact of the virus has been appalling, The European Union has been as useless as New York City Mayor Bill de Blasio,. Pro-EU liberal national leaders like President Emmanuel Macron in France and the venerable Chancellor Angela Merkel in Germany (Berlin's version of Nancy Pelosi) just sat back in bemused silence till it was too late. In Italy and Spain, the political splintering of societies has woefully added to the chaos.

This is in fact a very old lesson indeed: The ruling elites of the world should not have had to relearn it.

But for more than 225 years, the ruling elites of the West have mindlessly embraced Open Borders and Free Trade. Yet these have always been mere assertions of prejudice and mindless faith: They have never been proven to be true in any scientific manner.

Instead, when we look at the factual evidence of economic history over the past two centuries, it has always been the case that developing industrial societies which protect their manufactures behind strong tariff barriers flourish with enormous foreign trade and balance of payments surpluses. Then the living standards of their people soar.

In contrast, free market societies too powerless, or just too plain dumb to protect their economic borders get swamped by cheap manufactures and their domestic industries get decimated. This was the case with liberal free market Britain caught between the rising Protectionist powers of the United States, Japan and Germany for the next century.

It has been true for the decline of American industry since the 1950s, the more the United States embraced global free trade, the more its own domestic manufactures and their dependent populations suffered. This never bothered the liberal intellectual elites of the East and West Coast at all. It still doesn't. Having inflicted lasting ruin and despair on hundreds of millions of people for generations, they despise their victims as "deplorables" for crying out in pain and seeking to end the disastrous policies.

Russia suffered the full horrors of the merciless laissez-faire, unregulated Free Market policies of the liberal West in the 1990s. Boris Yeltsin never woke up to the catastrophe that Bill Clinton and Larry Summers were inflicting on his country. Over the past two decades, Russia's recovery from that Abyss under President Vladimir Putin has been miraculous. National social responsibility has succeeded where the crazed, simplistic theories of Adam Smith, David Ricardo and Ayn Rand all palpably failed.

The coronavirus pandemic therefore should serve as a wake up call to the peoples of the West, what Thomas Jefferson memorably called "A Fire Bell in the Night." They need to start following Russia's examples of self reliance, prudent preparation and maintaining strong borders.

The ravages of Liberalism – its Open Borders and Free Markets – have already stripped the West of all its defenses, social, demographic, industrial and economic.

The West is out of time: The Audit of Pandemic has been taken, and the reckoning is now due.


xxx

best thing that trump ever did was to hire navarro to shape the nationalist econ policies

open border free trade globalism was an EPIC scam foisted on us

they are doing the same to the kids right now with their globalist warming claptrap

xxx

Liberals have been selling out American workers for decades, and getting personally wealthy the whole time. Bill, Hillary, Barack, now Joe.

This is not a coincidence. The worst part is how they profess to care so much about the underprivileged, unless that person is a worker put out of a job by imports. What a bunch of sleaze balls.

xxx

There is nothing "compassionate" about open borders. It is a total myth / scam. Stealing a country's right to free association and control of its own borders is the ULTIMATE betrayal.

NWO Billionaire Globalists have imposed this nightmare on the USA and other citizens of the Western world. No different then the kings & dictators of the past these tyrants control our lives like we are slaves. True compassion would entail (among other things) exporting commerce, jobs & freedom to every corner of the globe. It's becoming more obvious everyday why this is never even discussed. Globalism is about spreading tyranny & poverty not freedom & wealth. Open borders is a one way ticket to Hell. 💀 Time to rise up and stop this national suicide.

xxx

Liberals will still be only concerned with racism and global rights instead of border security. Nothing trumps that for them. Not even death. How it's possible for us to be racist again 1.5B Chinese when we are the vast minority compared to them is something that liberals have yet to explain to me.

[Apr 26, 2020] Will the collapse of US neoliberal empire accelerate after coronavirus epidemic ?

Apr 26, 2020 | www.moonofalabama.org

james , Apr 24 2020 17:40 utc | 5

... ... ...

my question is this - will the decline be fast or slow?? it is definitely happening, of that there is no question! I figure another 4 years with Trump could work some real magic!! He could be like the captain who goes down with the ship!


Weekender823 , Apr 24 2020 18:09 utc | 15

Posted by: james | Apr 24 2020 17:40 utc | 5

I am a rare poster, but have to say your trump comment sounds like americentric viewpoint to me! A total collapse of the US economy won't just affect muricans like me, it will cause a world of hurt.

I think Putin's recent actions suggest he is trying to engineer a soft landing for the US to a diminished but still leadership role in a multipolar world. In my view, Putin will be more effective at influencing that future than Trump ever could.

migueljose , Apr 24 2020 18:22 utc | 18
Good comments James.
Your posts seem more deliberate, less venting than most of us so you're one I look for.
I would say though that almost all of us here in the U.S. are more addicted and more deluded than others. Kindof like the tough guy that isn't so tough, the pretty girl that's not that pretty, the rich boy who thinks he has lots of good friends. Right now most people (friends, family, neighbors) are scared.
Regarding speed of the collapse, I'm guessing it will be fast, this year. The people out here in rural Illinois know who they don't like-- reds hate blues and blues hate reds-- but most are also questioning their own superheroes: Dem support and disaffection for their party is growing and even Repub support for Trump appears to be weakening a bit. If the corn and bean crop doesn't turn them a profit farmers are in really bad shape and could turn their anger against all of Washington.
Joost , Apr 24 2020 18:28 utc | 19
@weekender #15
I suppose putin is trying to prevent a cornered cat from picking a fight. It is very tempting for an empire in decline, with massive unemployment rates, to recruit many soldiers, print the money out of thin air, then martyr itself by starting and loosing a major war.
dh-mtl , Apr 24 2020 18:30 utc | 20
"The relative decline of the U.S. is not a new development. It has been visible to outside observes for more than 20 years. But it is only now that some of the delusions that Hollywood, main stream media and the establishment have held up for the last 20 years are finally falling away."

Well actually it's been 40 years:

The U.S. lost its key manufacturing industries (autos, electronics, etc.) to the Japanese in the 1980s, all the while denying that their industry was in decline.

In the 1990s the U.S. replaced their lost manufacturing with the 'illusionary' 'dot.com' industry.

In the 2000s the U.S. next resorted to fraud (subprime mortgages packaged as AAA money market paper) to transfer money from those who still had a little, to those who had already lost their money and were still trying to maintain their previous life.

In the 2010s the U.S. simply printed money, in order to buy what they could not produce themselves, running up debts that they know would never be repaid.

And now, the whole house of cards is crashing down. The ever more rapid money printing can never end. And when the dollar inevitably collapses the delusions will end.

DontBelieveEitherPr. , Apr 24 2020 18:39 utc | 23
@Bernhard:

Brilliant. No other words for it. All the shit you had to take from the "Corona-Hoax" people, only seems to make you even stronger... Maybe that can sheer you up a bit..

For the German speaker here, check out the Book/Ebook "Cold War Leaks" by Markus Kompa, published by Telepolis.
Most of the well and lesser known leaks, and MSM-suppressed info on the Empire, all in one handy book.
It quite cheap, and the author surely deserves any cent of it, but those who are not able to, should be able to get it from libgen.


Amazon Link - Markus Kompa - Cold War Leaks

William Gruff , Apr 24 2020 19:49 utc | 42
Weekender823 @15: "I think Putin's recent actions suggest he is trying to engineer a soft landing for the US to a diminished but still leadership role in a multipolar world."

So is China. So is Iran. Heck, even Syria and Venezuela are trying to soften America's landing to the best of their abilities, despite all of the vicious hostility they get from the US.

Hysterical paranoia about everyone being out to "get them" is the dark flip side of America's delusion of exceptionality.

[Apr 24, 2020] Please Tell the Establishment That U.S. Hegemony is Over by Daniel Larison

Highly recommended!
Notable quotes:
"... The truth is that decline was never a choice, but the U.S. can decide how it can respond to it. We can continue chasing after the vanished, empty glory of the "unipolar moment" with bromides of American exceptionalism. We can continue to delude ourselves into thinking that military might can make up for all our other weaknesses. Or we can choose to adapt to a changed world by prudently husbanding our resources and putting them to uses more productive than policing the world. ..."
"... Exit From Hegemony: The Unraveling of the American Global Order ..."
Apr 23, 2020 | www.theamericanconservative.com
|

More than 10 years ago, the columnist Charles Krauthammer asserted that American "decline is a choice," and argued tendentiously that Barack Obama had chosen it. Yet looking back over the last decade, it has become increasingly obvious that this decline has occurred irrespective of what political leaders in Washington want.

The truth is that decline was never a choice, but the U.S. can decide how it can respond to it. We can continue chasing after the vanished, empty glory of the "unipolar moment" with bromides of American exceptionalism. We can continue to delude ourselves into thinking that military might can make up for all our other weaknesses. Or we can choose to adapt to a changed world by prudently husbanding our resources and putting them to uses more productive than policing the world.

There was a brief period during the 1990s and early 2000s when the U.S. could claim to be the world's hegemonic power. America had no near-peer rivals; it was at the height of its influence across most of the globe. That status, however, was always a transitory one, and was lost quickly thanks to self-inflicted wounds in Iraq and the natural growth of other powers that began to compete for influence. While America remains the most powerful state in the world, it no longer dominates as it did 20 years ago. And there can be no recapturing what was lost.

Alexander Cooley and Dan Nexon explore these matters in their new book, Exit From Hegemony: The Unraveling of the American Global Order . They make a strong case for distinguishing between the old hegemonic order and the larger international order of which it is a part. As they put it, "global international order is not synonymous with American hegemony." They also make careful distinctions between the different components of what is often simply called the "liberal international order": political liberalism, economic liberalism, and liberal intergovernmentalism. The first involves the protection of rights, the second open economic exchange, and the third the form of international order that recognizes legally equal sovereign states. Cooley and Nexon note that both critics and defenders of the "liberal international order" tend to assume that all three come as a "package deal," but point out that these parts do not necessarily reinforce each other and do not have to coexist.

While the authors are quite critical of Trump's foreign policy, they don't pin the decline of the old order solely on him. They argue that hegemonic unraveling takes place when the hegemon loses its monopoly over patronage and "more states can compete when it comes to providing economic, security, diplomatic, and other goods." The U.S. has been losing ground for the better part of the last 20 years, much of it unavoidable as other states grew wealthier and sought to wield greater influence. The authors make a persuasive case that the "exit" from hegemony is already taking place and has been for some time.

Many defenders of U.S. hegemony insist that the "liberal international order" depends on it. That has never made much sense. For one, the continued maintenance of American hegemony frequently conflicts with the rules of international order. The hegemon reserves the right to interfere anywhere it wants, and tramples on the sovereignty and legal rights of other states as it sees fit. In practice, the U.S. has frequently acted as more of a rogue in its efforts to "enforce" order than many of the states it likes to condemn. The most vocal defenders of U.S. hegemony are unsurprisingly some of the biggest opponents of international law -- at least when it gets in their way. Cooley and Nexon make a very important observation related to this in their discussion of the role of revisionist powers in the world today:

But the key point is that we need to be extremely careful that we don't conflate "revisionism" with opposition to the United States. The desire to undermine hegemony and replace it with a multipolar system entails revisionism with respect to the distribution of power, but it may or may not be revisionist with respect to various elements of international architecture or infrastructure.

The core of the book is a survey of three different sources for the unraveling of U.S. hegemony: major powers, weaker states, and transnational "counter-order" movements. Cooley and Nexon trace how Russia and China have become increasingly effective at wielding influence over many smaller states through patronage and the creation of parallel institutions and projects such as the Collective Security Treaty Organization (CSTO), the Shanghai Cooperation Organization (SCO), and the Belt and Road Initiative (BRI). They discuss a number of weaker states that have begun hedging their bets by seeking patronage from these major powers as well as the U.S. Where once America had a "near monopoly" on such patronage, this has ceased to be the case. They also track the role of "counter-order" movements, especially nationalist and populist groups, in bringing pressure to bear on their national governments and cooperating across borders to challenge international institutions. Finally, they spell out how the U.S. itself has contributed to the erosion of its own position through reckless policies dating back at least to the invasion of Iraq.

The conventional response to the unraveling of America's hegemony here at home has been either a retreat into nostalgia with simplistic paeans to the wonders of the "liberal international order" that ignore the failures of that earlier era or an intensified commitment to hard-power dominance in the form of ever-increasing military budgets (or some combination of the two). Cooley and Nexon contend that the Trump administration has opted for the second of these responses. Citing the president's emphasis on maintaining military dominance and his support for exorbitant military spending, they say "it suggests an approach to hegemony more dependent upon military instruments, and thus on the ability (and willingness) of the United States to continue extremely high defense spending. It depends on the wager that the United States both can and should substitute raw military power for its hegemonic infrastructure." That not only points to what Barry Posen has called "illiberal hegemony," but also leads to a foreign policy that is even more militarized and unchecked by international law.

Cooley and Nexon make a compelling observation about how Trump's demand for more allied military spending differs from normal calls for burden-sharing. Normally, burden-sharing advocates call on allies to spend more so the U.S. can spend less. But that isn't Trump's position at all. His administration pressures allied governments to increase their spending, while showing no desire to curtail the Pentagon budget:

Retrenchment entails some combination of shedding international security commitments and shifting defense burdens onto allies and partners. This allows the retrenching power, in principle, to redirect military spending toward domestic priorities, particularly those critical to long-term productivity and economic growth. In the current American context, this means making long-overdue investments in transportation infrastructure, increasing educational spending to develop human capital, and ramping up support for research and development. This rationale makes substantially less sense if retrenchment policies do not produce reductions in defense spending–which is why Trump's aggressive, public, and coercive push for burden sharing seems odd. Recall that Trump and his supporters want, and have already implemented, increases in the military budget. There is no indication that the Trump administration would change defense spending if, for example, Germany or South Korea increased their own military spending or more heavily subsidized American bases.

The coronavirus pandemic has exposed how misguided our priorities as a nation have been. There is now a chance to change course, but that will require our leaders to shift their thinking. U.S. hegemony is already on its way out; now Americans need to decide what our role in the world will look like afterwards. Warmed-over platitudes about "leadership" won't suffice and throwing more money at the Pentagon is a dead end. The way forward is a strategy of retrenchment, restraint, and renewal.


Tradcon 2 days ago

They can't possibly grapple with the fact that they were wrong and that their policies were catastrophic failures in almost every regard.
Kessler Tradcon 2 days ago
Yeah. US just happened to decline, a completely natural process, some universal constant, like gravity of which we have no control.

No. A decadent US population, informed by clueless media, put in charge incompetent and self-serving leaders, who made a series of very poor choices for the nation, but financially beneficial for themselves.

HenionJD Kessler a day ago • edited
And thus our betrayed America's version of the White Man's Burden. It's sad to think our children having to endure living in a world where they aren't called to die in God-forsaken hellholes for reasons that have nothing to do with this nation's core principles. Sad!
AlexanderHistory X Kessler a day ago
Lol. Sort of. Except the very oligarchs you speak of, on both sides, set the stage for all of it.
This is the inevitable result of voting as a right, ans they knew it. Universal suffrage is a tool of control, not liberty.
MPC AlexanderHistory X a day ago
The oligarchs are really just like other Americans, who got their hands on a whole lot of money. I have no doubt the rest of the population would behave like oligarchs if given the same resources.
JonF311 AlexanderHistory X a day ago
We don't have universal suffrage and voting is no where named as a right in the Constitution. The most it has to say is that voting can not be denied to people based on their membership in certain classes, nor limited based on the payment of a tax.
Meddersville 2 days ago
"it has become increasingly obvious that this decline has occurred irrespective of what political leaders in Washington want."

It isn't "irrespective of". It is because of what they wanted. They wanted and aggressively pushed for US foreign policy to serve the narrow regional interests of client states like Israel and Saudi Arabia. They got what they wanted, in spades, and now America's geopolitical and economic fortunes are in a tail-spin.

If America had ignored these people, with their stupid interventionism, their almost blatant service of foreign interests by demanding "no daylight" with "allies" who did nothing but suck our blood, we would have been far better off. We would have been far better able to anticipate, prepare for, and respond to the pandemic. It's impossible not to think ruefully of the trillions we wasted on Middle East wars and other interventions, money now so badly needed here at home.

Jason Kennedy 2 days ago
The US will pursue a similar path to Israel. Advantage is relative. Rather than repair the US economy it is simpler to destroy those of one's rivals. I see war as the only attractive option for the US elite as that is the only area where they still enjoy clear superiority (or believe they do, same thing policy-wise.)
Kathleen King a day ago
Cooley and Nevon's book appears to be a good read - I will put it on my 'to read so buy' book list. China is the next hegemon - this is inevitable due to design. As time goes by during this 'coronavirus pandemic' I have been waiting to hear a politician, any politician, assert that they will support legislation to require 'essential supply lines' to be returned to the U.S. Aside from 'murmurs', not a 'lucid' peep. Just 'sue china' legislation, or smoke and mirrors blame on those within the U.S. via the media or politicians. This is just embarrassing and surreal.

The priority should be to bring these supply lines back to the U.S. [i.e., medical]. Too hell if I am going to be forced to pay for 'Obamacare' or 'Medicare For All' like a Russian Serf, to the Corporations [vassals] of China [Tatars] - enforced by their 'Eunuchs', greedy politicians in Washington. {Eunuchs were castrated lackies of Emperors]. Yet Chinese slave labour on these medical products, including pharmaceutical ingredients, and precious metals for parts for the Department of Defense, keep profit margins very high.

Because of their cowardice one must ask: Why increase defense spending on any project - or be concerned with Iran or Venezuela or Russia or keeping NATO afloat? Allowing China to continue to be the 'sole source' provider of essential goods is just asking for another scenario like the one before us. If so, I am convinced that my country is nothing more than a 'dead carcass' being ripped apart by 'Corporate Vassals of China'. This, of course, includes the Tech Companies as well.

Bankotsu Kathleen King a day ago • edited
China won't be next hegemon. It has no ambition to be one.
joeo Bankotsu a day ago
Are Vietnam, the Philippines, Japan, South Korea, Australia and India aware of this?
Bankotsu joeo a day ago
Time will tell.
Feral Finster joeo a day ago • edited
China does not have ideal geography to be world hegemon.

For one thing, it is too easy to prevent any ships from leaving the South China Sea.

The fact that China has not gone to war with anyone since 1953, except for two sharp but short border conflicts in 1962 and 1979, should tell you something. Contrast with the peace-loving liberal democracy of the United States.

J Villain joeo a day ago
You mean the counties that have signed numerous trade and defence agreements with China?
Comicus Bankotsu 20 hours ago
China has seen the cost we've paid. I don't think they see the value.
dstraws Kathleen King a day ago
The answer of course is a functional international system--environmental protection, world health, a transparent financial system, world court, and policing. All agreed on by at least the major players which makes it costly for others not to participate.
Kathleen King dstraws a day ago
With good reason many 'mistrust' this int'l system given the threat to sovereignty of a country, most importantly the freedom of its citizens. An int'l system is asymmetrical, a radical 're-distribution' program that preys on citizens of the 'pseudo-wealthy' west. The United States will be, post-Corona Virus, potentially $30T in debt. Yet they contribute the most to the WHO. The largest contribution to the UN comes from the United States. This fact seems to rebut your 'costly for others not to participate'.

The Paris Agreement, like the UN and WHO, will rely on most of the funds coming from the U.S. and redistributed to other countries. And this will further destroy the standard of living in this country to the degree of crashing the economy. The expected Utopian Outcome for this so-called 'One-World' order will be a great disappointment to those that advocate for it. Because, after all, it is nothing more than a Utopian dream gambling on the cohesive nature of different demographic groups combined with significant reduction in freedoms for all - based on flawed models, including so-called 'man made global warming' models. To define the Demographic is use in the context of my response: does not = race; it equals culture. Right now this is being demonstrated in the super state of the EU. There can be no harmony in a world like this. It is like forcing a 'square peg' into a 'round hole'.

And who are these major players? The Eunuch Politicians in Washington and Western Europe? What are their priorities? Their wallets or their constituents? And I do not mean in a parental way. That is not the role of government.

Jim Chilton a day ago
Viewed from a global perspective at this time, there is a decline in American power and influence, but the vanity of politicians prevents them from seeing it and they don't want to let go.

The British government makes the same mistakes as it clings to an imaginary "prestige" as a world power - a power that vanished in 1914.

Lars a day ago
We don't have to collapse like the Western Roman Empire; we can adjust like the Byzantine Empire and stay around a thousand years longer.
Lee a day ago
After Eden was removed as PM post-Suez the new PM Harold McMillan came in and was honest with the British ppl in explaining their new role in the world, just 10-15 years after the triumph of WW2 a UK Prime Minister had the courage to tell the British people that they were no longer at the top table, that the age of Empire was over and to put in place the policies required to remove the burden of empire from Britain and adjust to its new role in the world. Do you see an American politician with the capability to tell some uncomfortable home truths to the American people and still win an election?
joeo Lee a day ago
i think that is why voters elected Trump. The citizens of Pennsylvania, Ohio, Michigan, Wisconsin have lived the decline of the United States. At least under trump there have been no new wars but the withdrawal from Iraq, Afghanistan NATO, Japan, Korea needs to occur with the Military-Industrial-Media Complex kicking and screaming.with each step. Also ending sanctions on Iran, Cuba, North Korea and Venezuela.
WolfNippleChips joeo a day ago
We are in Japan because it allows us to patrol the sea lanes which is vital for our economy and it gives us a large force ready to respond in case of Chinese or North Korean aggression. The Status of Forces Agreement and other treaties with Japan stipulate what percentage of costs are born by Japan.
joeo WolfNippleChips a day ago
Allowing Japan to destroy consumer electronics, damage steel and automotive is vital to our economy? Could we not patrol the sea lanes if we wanted to from Guam? Is not freedom of the sea just as vital to Japan, Europe and India? How is China or North Korea the aggressor when Japan, Korea and Taiwan have been client states of China with the US thousands of miles away?
Imperialism has bankrupt the United States just as it did Europe. The time has come to end these treaties.
MPC joeo a day ago
Ultra protectionism, retreat to our island and no one can find us, 'make America great again' I dare say, thinking is naive and unrealistic.

America wil be poorer, weaker, and more vulnerable if it tried to only make its own goods and had to rely on only its own labor. Trade is profit and profit is the ability to develop, build, and defend what we have. Where do the profits go is the question. Who loses in the trade is another question. Does the benefit from the former outweigh the latter?

I don't see Japanese trade as making much of a dent in employment rates. The profits go to the Japanese state and industry, who are important counterweights to Chinese ambitions in Asia, a mutual interest. So, the costs are few, and the profits are used in significant measure to mutual benefit.

The liberal hegemon is dead, yes our imperialism is dead even if it doesn't know it, but it is essential to remain strategically involved in the world around us. Even if we stop playing the game, the world around us does not. Did Russia have the luxury of turning into a turtle after the Cold War? No. Nations, which are all wolves, smell weakness. Yet the Trumpian right wants to hide, put its finger in its ear, and pretend that everything will be fine it seems.

Lee joeo 16 hours ago
What are these withdrawals from Iraq & Afghanistan you speak of? They just have not happened, like not even a little bit, so tired of people pushing this completely false narrative as if it is true, just maddening. A democracy cannot function if people exist in their own worlds with their own facts that are just not true
David Naas a day ago
The Brits after WW2 offer a lesson here. Hurt badly by WW1, their whole system began teetering as that illusion of the "natural superiority" of the British took massive hits in the various colonies of the Empire. By exposing the ordinariness of the administrators and soldiers, it encouraged revolt (see Gandhi in India). But WW2 arguably devastated the UK. It's "win" over Germany was Pyrrhic, as it needed both the USSR and the USA , and each took a chunk of prestige and of the "hegemon". George VI recognized this, and British politicians encouraged the shift from Empire to Commonwealth. (Which, if they had never involved themselves in the EU beyond trade and had kept up the Commonwealth as it was intended, would have been a better path than what they did, IMHO.) Nevertheless, they handled it better than I think we will.

As Jefferson said, "Peace, commerce, and honest friendship with all nations-entangling alliances with none."

But to get there, we have a lot of nonsense -- damned nonsense - - to overcome.

John Achterhof a day ago
Excellent review and outlook on an encouraging transition from the compulsion of hegemony within a generally agreeable paradigm of economic liberalism (rules-based international markets).
john a day ago
Well this present regime is actively smashing "international organizations" constructed largely by the Americans after WW2. This makes it even easier for the Chinese to fill the vacuum we have created. It would be better to hold them in a Western biased "international organization"
engineerscotty a day ago
Would be nice if there were no global hegemon, actually.
NoNonsensingPlease engineerscotty a day ago
All indications are that ship has sailed. Will there be hegemons? Yes, but more than one. The US will not be the only hegemon and the COVID-19 helped the world see the emperor has no clothes.
MPC engineerscotty a day ago
I think that's the likely course, unless the US remains especially incompetent in ensuring that China isn't the one cleaning up at all the empire liquidation sales.

No nation should be entrusted with anything like the power the US has had.

WolfNippleChips a day ago
Until they start shooting down our airliners, sinking our cruise ships, attacking our Naval Bases, and invading their neighbors and committing genocide against people of other races and religions.

Then, the doves will wake up and realize that the Big Stick is what kept us safe afterall.

MPC WolfNippleChips a day ago
Yes, we need the Big Stick.

We just need a rethinking of strategy, since we're just hitting ourselves with it right now.

Some people feel inclined to toss away the stick to prevent the foolish use of it.

chris chuba WolfNippleChips a day ago
You mean fight people who actually threaten us rather than attack people because we dream up scenarios where it's possible or we just don't like them? I'll take that over preemptive genocide.

If we focused on actual defense 9/11 would not have happened. We ignored Al Qaeda despite the fact the bombed us multiple times because we were too busy bombing Serbia, blowing up their TV stations and expanding NATO to gobble up former Russian Republics.

Feral Finster a day ago
"Liberal international order" my royal Irish @ss.

The United States routinely ignores any international laws, whenever it sees fit. Anyway, the idea that United States hegemony is obligatory because muh international order is an argument from consequences.

AlexanderHistory X a day ago
Lol, America Is what's in the rear view, not just our status as the sole superpower.
People better get ready, this empire is getting ready to collapse.
NoNonsensingPlease AlexanderHistory X a day ago
Surely the shortest live empire in history.
JonF311 NoNonsensingPlease a day ago
Alexander's barely outlived his brief life.
M Orban AlexanderHistory X a day ago
You wouldn't be the first one to say that...
MPC AlexanderHistory X a day ago
Meh, people better get ready, we're getting ready to muddle along for the next several decades.

The American state is way too tasty a prize. No one is going to dismantle it, and people will unite against any threat that has the potential to. Eventually someone will figure out a Bernie/Trump fusion and that person will be our Peron or Putin. Radical leftists will be crushed by the police if they try anything, and the white nationalists will all be in prison.

We're somewhere between Argentina and Russia heading forward.

MPC a day ago
Sell the empire. Ignore the Middle East outside of the oil trade lanes. Reorient our trade networks on SE Asia, India, and Latin America - no more feeding China. End of hostile moves towards Russia - let Europe reconcile with Russia. Fully support multipolar world order.

Militarily we don't need the plodding battleship of a force we have now. No need to occupy whole countries with 'boots on the ground'. Maintain top notch special forces, advisor and coordination programs with allies, and anything useful for blowing up Chinese force projection especially the PLA navy. Subs and missiles.

Platonist_82 MPC 21 hours ago • edited
Lots of good ideas here. Would trading with India involve a "reorient[ation]?" (I don't know.) That is to say, would still trading with India mean that we have to maintain our current naval position, or would that still be consistent with some sort of drawdown? Or are you saying that since India is not a hostile force, we would not have to worry about it? Or does is that problem met with the "anything useful for blowing up Chinese force projection especially the PLA navy. Subs and missiles." Conceivably, China could increase its presence in the Indian Ocean to create problems, no? Overall, agree with a lot of it--I'm just curious about the logistics.
MPC Platonist_82 15 hours ago
India in the longer term could ostensibly do much of what China does for us now trade wise. Needs to finish developing its infrastructure and its manufacturing tech. SE Asia and Mexico are closer short term.

I think due to the commercial value of the seas our navy is our most cost effective means of force projection. Patrolling the Persian Gulf means we have our thumb on the number one petroleum artery. I would focus more on cost effective means to deny China (and Chinese trade) access to the seas in the event of tension. Carriers are expensive targets when subs and strategic missile emplacements can inspire even more fear due to unpredictability. But yes we still need bases and partnerships throughout the Indian and Pacific Oceans. China can roam around in peacetime as it wishes, what matters is that it stays totally bottled up in port, along with its maritime trade, in a conflict.

Allow these places to run up trade surpluses with us rather than China.

Platonist_82 a day ago • edited
I think Mr. Larison is on the right track. However, even if the logic of abandoning the Liberal International Order (LIO) is accepted--and the LIO most certainly should be abandoned--the entire story or narrative of post-World War II America narrative must be either abandoned or refashioned. It seems that the LIO functions as some sort of purpose for American citizens, and a higher-level theology for those who work in the United States Government, especially those who are involved in foreign policy making. Countering or reshaping the narrative of United States foreign policy and its link with domestic policy will be a challenge, but one that needs to be taken up, and taken up successfully. In personal conversations with those who support the LIO, they seem to take [my] criticisms of the LIO as some sort of ad hominem attack. This reaction is obviously illogical, but it is one that those who see the wisdom of abandoning the LIO must tactically and tactfully counter. Regrettably, supporting the LIO is conflated with being an American, or conflated with the raison d'etre of the existence of the United States. Many think the abandonment of the LIO cannot rationally be replaced and will necessarily be replaced with some sort of nihilism or the most cynical form of "realism," of which they mistakenly believe they possess understanding. For a start, reforming the educational system, insofar as it not already dominated by incorrect-but-fashionable far-leftist ideas that advocate a narrative of American history and purpose as false as it is pernicious, would seem to necessary. Many children grow into adulthood falsely thinking maintaining the LIO is their responsibility. It is, at root, a theological sickness.
MidnightDancer 9 hours ago
It is very difficult for me to see the U.S. changing course anytime soon. Neoliberal globalists, political, and financial, are in control.
Tony 7 hours ago
I hope it is over. To hell with the Europeans who have made a national sport of mocking Americans and all things America, while we risk nuclear war on their behalf. Let them face Putin and the Islamic invasion on their own - those problems are Europe's, not ours.
Frank Blangeard 7 hours ago
The United States is ramping up for the "Great Final War' with both Russia and China. Throw in Iran, Syria, North Korea etc. as an afterthought. The U.S. will bring the temple down on itself rather than give up the goal of 'Full Spectrum Dominance'.that it has been pursuing since the end of WWII.
Anti_Govt_Rebel 5 hours ago
Alexander Cooley and Dan Nexon may think the glory days are coming to an end, but I don't think Trump and the neocons got the memo yet. I see no evidence of any intent to change.
Matthew W. Hall 13 minutes ago
There is no "international order." That's just rhetoric that is useful for certain economic interests. A world without american hegemony will be divided and filled with conflict. Globalization can't work politically.

[Apr 22, 2020] The Neoliberal Collapse by Miatta Fahnbulleh

Notable quotes:
"... To boost sluggish wages, governments should use all the levers of the state -- corporate taxes, wage regulations, and subsidies -- to incentivize or force businesses to pay their workers fairly. ..."
"... A new social contract with citizens should extend beyond the workplace, however, with the ultimate goal being the establishment of a "well-being state" that would provide everyone with the basics necessary to maintain a decent quality of life. This would require increased investment in the staples of the welfare state, which have been weakened under neoliberal governments, such as guaranteed universal access to high-quality health care and education. But the new approach would go beyond those familiar elements by offering universal access to childcare, public transportation, and minimum income protection -- that is, a floor below which no one's income can fall irrespective of whether a person is employed. These expansions of the welfare state should be funded through progressive taxation that would raise the tax burden on those who can most afford it, by increasing the top rates for income and corporate taxes and by taxing wealth, such as capital gains, at the same level as income. ..."
"... Top-down policies, however, will not be sufficient to spur the kind of transformation that must take place in developed countries in order to truly shake off neoliberal stagnation and decline. ..."
Feb 28, 2020 | www.foreignaffairs.com

Capitalism is in crisis. Until recently, that conviction was confined to the left. Today, however, it has gained traction across the political spectrum in advanced economies. Economists, policymakers, and ordinary people have increasingly come to see that neoliberalism -- a creed built on faith in free markets, deregulation, and small government, and that has dominated societies for the last 40 years -- has reached its limit.

This crisis has been long in the making but was brought into sharp focus in the aftermath of the global financial meltdown of 2007–8 and the global recession that followed it. In the developed countries of the Organization for Economic Cooperation and Development, economic growth over the last decade ceased to benefit most people. At the end of 2017, nominal wage growth among OECD members was only half what it was a decade earlier . More than one in three people in the OECD countries are estimated to be economically vulnerable, meaning they lack the means to maintain a living standard at or above the poverty level for at least three months. Meanwhile, in those countries, income inequality is higher than at any time in the past half century: the richest ten percent hold almost half of total wealth, and the bottom 40 percent hold just three percent.

Defenders of neoliberalism frequently point out that although decades of wage stagnation and wealth concentration have led to ballooning inequality in developed countries, the same time period has seen a dramatic increase in prosperity on a global scale. Over a billion people, they argue, have been lifted out of extreme poverty owing to technological advances, investments, and prosperity that were made possible by the spread of free markets. However, this argument fails to account for the critical role that governments have played in that change through the provision of education, health care, and employment. Such state interventions have arguably been as decisive as the invisible hand of the market in lifting living standards. This defense also ignores the fact that despite many gains in prosperity, massive wealth concentration and staggering inequality continue to shape the global economy: less than one percent of the world's population owns 46 percent of the world's wealth, and the poorest 70 percent own less than three percent.

Inequality has always been a feature of capitalist societies, and people have been willing to tolerate it as long as they felt that their quality of life was improving, their opportunities were expanding, and their children could expect to do even better than them -- that is, as long as all the proverbial boats were rising. When that stopped happening in recent decades, it fed a growing perception that the system is unfair and is not working in the interest of the majority of people. Pent-up frustration has led to a clamor for change -- including a new receptivity to socialist ideals that have long been sidelined or even considered taboo. In the United Kingdom, for example, 53 percent of people recently polled said they believed that the economy has become more unfair over the last decade. Eighty-three percent said they felt that the economy worked well for the wealthy, but only ten percent said that it worked for people born into poor families. And ideas such as restoring public ownership of the essential utilities that were privatized in recent decades, such as railways, electrical services, and water companies, are gaining traction , with over 75 percent of people polled supporting such a step. Meanwhile, in the United States, a 2018 Gallup poll found that among Americans aged 18 to 29, socialism had a higher approval rating (51 percent) than capitalism (45 percent). "This represents a 12-point decline in young adults' positive views of capitalism in just the past two years," Gallup noted, "and a marked shift since 2010, when 68 percent viewed it positively."

Neoliberalism is not just failing people: it's failing the earth.

A mere revival of the social democratic agenda of the postwar era, however, would not be sufficient. For one thing, that period's emphasis on central authority and state ownership runs counter to the widespread demand in developed economies for more local and collective control of resources. Perhaps more important, however, is the need to confront a challenge that postwar social democratic models did not have to take into account: the threat posed by climate change and catastrophic environmental degradation. After all, neoliberalism is not just failing people: it's failing the earth. Owing in no small part to the massive levels of consumption and fossil fuel use required by an economic model that prioritizes growth above all else, climate change now imperils the future of human existence. Last year, the Intergovernmental Panel on Climate Change concluded that the world has barely over a decade to halve carbon emissions if humanity is to have any chance of limiting the increase in average global temperatures to 1.5 degrees Celsius above preindustrial levels -- a point past which the damage to human and natural systems would be devastating and largely irreversible.

Just like the economic breakdown that has chipped away at people's quality of life, environmental decline is rooted in the crisis of capitalism. And both challenges can be addressed by embracing an alternative economic model, one that responds to a hunger for genuine reform by adapting socialist ideals to the contemporary era. A new economic model must prioritize a thriving and healthy natural environment. It must deliver improvements in well-being and guarantee all citizens a decent quality of life. It must be built by businesses that plan for the long term, seek to serve a social purpose beyond just increasing profits and shareholder value, and commit to giving their workers a voice. The new model would empower people and give them a larger stake in the economy by establishing common ownership of public goods and essential infrastructure and by encouraging the cooperative and joint ownership of private, locally administered enterprises. This calls for an active but decentralized state that would devolve power to the level of local communities and enable people to act collectively to improve their lives.

A NEW SOCIAL CONTRACT

The United Kingdom provides an interesting case study of how the crisis of capitalism is playing out. There, as in the United States, center-right and center-left governments alike have spent decades following a neoliberal recipe of tax cuts, reduced social welfare benefits, and deregulation -- far more enthusiastically than most other European countries, which have stronger social democratic traditions and institutions. As a result, the neoliberal breakdown has been particularly painful in the United Kingdom, where people are on average poorer today than they were in 2008, adjusting for inflation. British household debt is higher than it was before the financial crisis, as more people borrow just to get by, and a staggering 14.3 million people live in poverty .

For many British people, the 2016 referendum on whether to leave the European Union served as an outlet for their discontent and anger at a failing system. The vote in favor of Brexit was a clear message from communities under pressure that the status quo needed to change. More than three years on, this disquiet continues to grow, opening up space for more radical changes in domestic policy -- as witnessed by the Labour Party's recent embrace of ideas that would once have been considered too risky, such as the renationalization of utilities and the establishment of a state-run pharmaceutical company.

But even in the United Kingdom, political platforms have lagged behind public demands for significant change. What's needed in developed economies across the world is not tinkering around the edges but a full-scale reformation of the relationship among the state, the economy, and local communities. The first step would be a global Green New Deal: a massive mobilization of resources to decarbonize and at the same time create millions of jobs and lift living standards. The goal should be net-zero carbon emissions within ten to 15 years, which will require governments to make significant investments in green infrastructure, such as onshore and offshore wind farms and smart energy grids; in new technologies such as carbon capture and storage; and in training workers to develop the skills they will need for the jobs a green economy will create, such as installing insulation, maintaining renewable energy systems, and reconditioning and refurbishing used goods.

Policymakers will also need to create incentives for companies to reduce their carbon use by replacing subsidies for fossil fuels with tax breaks for the use of renewables. New regulations, such as zero-carbon building standards or quotas for the use of fossil fuel energy, would help bend markets that have been slow to act in response to the climate crisis. And central banks will need to encourage financial markets to divest from fossil fuels through tougher credit guidance policies, including capping the amount of credit that can be used to support investment in carbon-intensive activities and setting quotas for the amount of finance that should flow to low-carbon investment.

Anger at a failing system has opened up space for radical changes in domestic policy.

To boost sluggish wages, governments should use all the levers of the state -- corporate taxes, wage regulations, and subsidies -- to incentivize or force businesses to pay their workers fairly. A just share of the rewards from their labor should come not only in the form of higher wages but also in reductions in working time, with a move to an average four-day workweek, which governments can achieve by increasing statutory holidays. At the same time, the power of workers to protect their interests should be strengthened by requiring all companies to automatically recognize labor unions and by giving workers stronger legal rights to organize, bargain collectively, and strike. Workers must also gain greater ownership of the organizations that employ them. Governments ought to mandate employee ownership funds, which transfer a share of a firm's profits, in the form of equity, into a trust that is owned by workers collectively. Through the trust, workers would receive shares in the company, just like any shareholder. Those shares would come with voting rights, enabling employees to become the dominant shareholders in every enterprise over time, with the power to shape the direction of the businesses where they work. In the United Kingdom, a growing number of companies, including the department store chain John Lewis, the home-entertainment retailer Richer Sounds, and the consulting firm Mott MacDonald, are already reaping the benefits of putting ownership in the hands of workers : higher productivity, better worker retention and engagement, and stronger profits.

A new social contract with citizens should extend beyond the workplace, however, with the ultimate goal being the establishment of a "well-being state" that would provide everyone with the basics necessary to maintain a decent quality of life. This would require increased investment in the staples of the welfare state, which have been weakened under neoliberal governments, such as guaranteed universal access to high-quality health care and education. But the new approach would go beyond those familiar elements by offering universal access to childcare, public transportation, and minimum income protection -- that is, a floor below which no one's income can fall irrespective of whether a person is employed. These expansions of the welfare state should be funded through progressive taxation that would raise the tax burden on those who can most afford it, by increasing the top rates for income and corporate taxes and by taxing wealth, such as capital gains, at the same level as income.

POWER TO THE PEOPLE

Top-down policies, however, will not be sufficient to spur the kind of transformation that must take place in developed countries in order to truly shake off neoliberal stagnation and decline. Those societies also must become more democratic, with power and resources distributed to regional and local governments, closer to the people in the communities they serve. This is one critical way in which such a new economic agenda would differ from more traditional socialism, which tends to favor centralized authority and state ownership. For example, rather than relying on federal or provincial governments for everyday essentials, such as energy, affordable housing, and public transportation, municipalities should establish corporations owned by and accountable to residents to provide these services.

The Basque Country, in Spain, offers one example of what a more democratic economy might look like. There, the Mondragon Corporation , set up in 1956 by graduates of a technical college to provide employment through worker cooperatives, has grown to become one of the ten largest business groups and the fourth-largest employer in Spain, with hundreds of different companies and subsidiaries and over 75,000 workers. The cooperatives operate in a variety of sectors , including banking, consumer goods, and engineering. They are set up not merely to turn a profit but also to achieve a specific social or environmental goal. They are owned and run by the people who work for them rather than by external investors, and their governance structures ensure that members have a stake in the organizations and share in the wealth they create.

Community land trusts in the United Kingdom provide another example. Granby Four Streets, in Liverpool, and the London Community Land Trust, in the Mile End district, provide affordable housing to their local communities by buying land from the private sector and taking it into community ownership. The trust builds affordable homes that it sells or rents to local residents at discounted rates. An asset lock prevents the land from being resold, which guarantees that the homes will remain affordable.

Bottom-up experiments such as these will be critical to the success of a new economic model. For those experiments to flourish, influential political figures who identify with the socialist tradition -- people such as Alexandria Ocasio-Cortez and Bernie Sanders in the United States and Jeremy Corbyn in the United Kingdom -- should use their platforms to draw attention to local-level activists and organizations that are working to create a more democratic economy. Meanwhile, some degree of patience will be in order: it will take time for such new thinking to produce the large-scale changes necessary. But such patience must also have a limit: when it comes to fixing the damage that neoliberalism has done, time is running out.

[Apr 21, 2020] All the msm talking heads have been revealed for what they are: state propagandists. not one krugmanian friedmanite will ever say, "I didn't see this coming and I pimped myself out for the last 40 years selling snake oil and getting nobel prizes for it

Apr 21, 2020 | www.moonofalabama.org

ron , Apr 21 2020 15:59 utc | 65

" i listened to about 3 mins of some bill gates ted talkish thing, wondering, will these dim bulbs ever assume responsibility for anything?

all the msm talking heads have been revealed for what they are: state propagandists. not one krugmanian friedmanite will ever say, "I didn't see this coming and I pimped myself out for the last 40 years selling snake oil and getting nobel prizes for it and have revealed myself to be unqualified to turn on a light switch no matter how much money I have made and recognition I have received. Clearly I know nothing". why would anyone listen to an msm personality that's been sold to them as some kind of "expert"?

[Apr 19, 2020] Neoliberalism as fraud

Apr 19, 2020 | www.moonofalabama.org

karlof1 , Apr 19 2020 0:09 utc | 103

Another term for lies is Fraud. The case is made by numerous scholars from varying disciplines that the USA is a complete Fraud and has been that way since 1971 when Nixon put the USA onto a Fraud-based economy. At the time, no other nation was strong enough to call out the Fraud for what it was, and it was allowed to grow. Some nations saw how the Fraud could be used in their favor as ever more US-based corporations changed their business plans to become as fraudulent as their government. Mainstream educational institutions taught the fraud as if it were not and media followed along. Soon, there were no longer any weighty voices willing to call out the Fraud for what it was, and the financial crises caused by the Fraud were lamented yet more of the Fraud was touted as the cure-all for each crisis that ensued, including today's. Indeed, when closely examining post-WW2 Outlaw US Empire policy, it becomes very clear that it's completely based on Fraud--Lies--all in the service of a narrow mindset held by a small cabal of powerful people.

The Fraudulent charges made against China are just a continuation of the preceding Anti-Russian Fraud. And the Fraud will continue a la 1984 to oscillate between Russia, China and Iran, or in some combination. The Fraud will only cease when the people inhabiting the Outlaw US Empire cause it to stop, But I don't see that as likely anytime soon.

karlof1 , Apr 19 2020 0:53 utc | 111

103 Cont'd--

And of course the Fraud was mostly ignored by the regulatory agencies and courts except when it created a crisis as in 1987 and 1999. You know, I don't recall the Fed bailing out California after it was defrauded by ENRON. Some already know that living life within the Outlaw US Empire's a Fraud. Inslee called out Trump for his Fraud, but more governors needed to join him. There's an old Soviet joke--We pretend to work and they pretend to pay us. Global financial markets are all Fraudulent and ought to be closed. The fastest growing forms of entertainment--video games and porn--are also Fraud. And then there's Virtual Reality--the epitome of Fraud of the Rovian World where the Penultimate Fraud Pompeo offgasses daily.

Fortunately, there're enlightened people refusing to participate in the fraud any longer, some of very longstanding--Communities issuing their own economic script to keep wealth within their communities and people ensuring their public utilities remain public are but a few examples of people refusing to play the Fraudulent Game anymore. Small towns ought to become co-ops financially with their own public bank, as should big cities. Detach from the Money Power's tentacles and cease being its host, particularly as individuals. Cut up those credit (debt) cards and live within your means--you'll have more money to spend! And above all, be proactive and stand out by exposing the Fraud in your town--the Big Banks, Brokerage Houses, Big Box Stores, Sick Food Outlets, Politicos, and BigLie Media. Here's Hudson about the Fraud from an interview 1.5 years ago with an insight into what's now happening:

"So this is the same crisis that we were in then. It's never been fixed, and it can't be fixed until you get rid of the bad-debt problem. The bad debts require restructuring the way in which pensions are paid – to pay them out of current income, not financializing them. The economy has to be de-financialized, but I don't see that on the horizon for a while. That's s why I think that rather than a new crisis, there will be a slow shrinkage until there's a break in the chain of payments. Then they're going to call that the crisis .

"Hillary will say it's the Russians who did it, but it really is Obama who did it. The Democratic Party leadership is in the hands of Wall Street, and has not done anything to prevent the same dynamics that caused the crisis in 2008 and are still causing the economy to shrink." [My Emphasis]

The chain has busted wide open so there's a massive crisis and it's China that's to blame.

[Apr 19, 2020] The neoliberal elite is desperate, and when they get desperate they play dirty

Highly recommended!
This is especially true for the US elite...
Apr 19, 2020 | www.moonofalabama.org
Patroklos , Apr 18 2020 22:09 utc | 77
Dear b,

A valiant rearguard action but 'no basis in fact' is meaningless. The ruling class is desperate, and when they get desperate they play dirty. Meanwhile the Left dithers about with 'facts' and romantic notions like reality or truth as the referent for political decision-making.

I must admit this has always been my weak point as well: why doesn't reason prevail?

... ... ...

[Apr 17, 2020] The word socialism became just a neoliberal smear. We should talk about public sector vs private sector, not about socialism

Highly recommended!
Apr 17, 2020 | www.moonofalabama.org

migueljose , Apr 16 2020 14:13 utc | 150

The word socialism is meaningless. A government, by nature is socialistic. Again, following up on my sociopathy comment, it's on a spectrum. Some governments-- Sweden, Finland, Cuba-- do more, others-- Guatemala, Honduras, now Bolivia-- do less.

"Public sector" would be a more accurate term to describe what the particular government in question is using public funds. Tennessee, for example, will not put out your house fire if you have not paid your "fire tax". Most southeastern states have smaller public sectors than northern states.
Another issue: be honest. Military is public sector. Police, prisons... public sector. you a cop? your public sector. your money comes from the people. That's socialism. It makes no sense for right wingers to be against "socialism" and work for the public sector.

Bernie never defined "socialism" accurately which allowed DNC scum and republicans to tar him with that dirty word since we Americans are so addicted to Fox, CNN and MSNBC.

[Apr 15, 2020] While personal freedom is largely illusory, it seems to me that one has a contractual right to expect good parents, good teachers, good bosses and so forth. That's a legalistic constitutional right to exchange the individual's right to violence in exchange for protection

Apr 15, 2020 | www.moonofalabama.org

Walter , Apr 15 2020 12:35 utc | 177

Personal freedom is largely illusory. One spends most of ones life under the control of others, parents, teachers, bosses, officers, cops, judges, jailers, or sleeping. I wonder if it's a "right" at all.

However, it seems to me that one has a contractual right to expect good parents, good teachers, good bosses and so forth. That's a legalistic constitutional right to exchange the individual's right to violence in exchange for protection. A contact. Individuals sometimes retain a fraction...the right to self-defense...but this is very limited, and dicey too.

And - especially - one, everyone, does have a natural right to demand Justice, fairness, and to be left alone. This is a Natural Right. It comes from the outside, from God, if you like. Dogs and horses, for example express themselves, and kick and bite and krap on your desk, if they're seriously mislead, (mistreated) Man also has the natural right.

So, Personal freedom seems to be an imprecise term, and seems to have at least two, probably several, manifestations.

[Apr 15, 2020] Personal freedom is not an unlimited right. Diana Johnstone has given a convincing argument for its limits. One's freedom and rights end where they infringe on the freedom and rights of others

Apr 15, 2020 | www.moonofalabama.org

Personal freedom is not an unlimited right. Diana Johnstone has given a convincing argument for its limits. One's freedom and rights end where they infringe on the freedom and rights of others:

[V]irtually all key aspects of any civilized society go contrary to the absolutism of individual rights. Every civilized society has some sort of legal system, some basic rules that everyone is expected to follow. Most civilized societies have a public education and (except for the United States) a public health insurance system designed to benefit the whole population. These elements of civilization include constraints on individual freedom.

The benefits to each individual of living in a civilized society make these constraints acceptable to just about everybody. The health of the individual depends on the health of the community, which is why everyone in most Western countries accepts a single payer health insurance system. The only exception is the United States, where the egocentricities of Ayn Rand are widely read as serious thought.

It is without doubt that masks are helpful to limit the spreading of the epidemic. An infected person begins to spread viruses by breathing, talking, singing or coughing on day 2 after the infection. Only on day 5 or 6 will the symptoms of the disease set in. Some people will never feel symptoms but can still infect others usually up to day 10 after the infection.

Masks stop the viruses one sheds from reaching other persons. They do this effectively.

Posted by b on April 14, 2020 at 18:12 UTC | Permalink

[Apr 13, 2020] Predatory Publishing 2020

A definition for predatory publishing is problematic, as there is much overlap with legitimate but new or smallish publishers. She looked at necessary and sufficient conditions for a definition, but found that while deceit is necessary, sufficient conditions are vexing to try and capture.
PP cheat and deceive some authors charging publishing related fees without providing services; PP deceive academics into serving on editorial boards; PP appoint editorial board members without knowledge; no peer review; refuse to retract or withdraw problematic papers; etc.
Jan 09, 2020 | copy-shake-paste.blogspot.com
It's 2020 and I'm still bogged down, not finished with my notes from half a year ago on the ENAI conference. What can I say? Life and all....

So let's start the new year with a discussion on predatory publishers. Deborah Poff gave a keynote speech at the ENAI conference 2019 on the topic, and as COPE chair she has now published a discussion paper on the topic. There are a number of irritating points, as Elisabeth Bik points out in a Twitter thread, but on the whole this is a good paper to get this very important discussion going in the new year.

How can we tell whether or not a journal is legitimate or not? Legitimate in the sense that rigorous peer-review is not just stated, but actually done? We are in a current world situation in which certain groups attack science because it is informing us of uncomfortable truths. Predatory publishers offer a welcome point of attack, as the weaknesses of the "science" they publish are immediately assumed for all science. The "self-regulation" of science has been shown in recent years to not actually do the work it is supposed to do, despite the efforts of so many to point out issues that need attention.

Researchers need guidance about publication venues. Beall's list was taken down for legal reasons, but there is a web site that publishes an archived copy of the list that was taken on 15 January 2017. That was soon after the 2017 list was published.

There is a checklist available at thinkchecksubmit.org that is useful, but not a list of problematic publications, probably for legal reasons.

We can't keep putting out heads in the sand about the problems of academic misconduct. If we only look away, we let people get away with bad science, and that then reflects on us all. Posted by Debora Weber-Wulff at 10:52 AM

After lunch we had the Plenary session on
Predatory publishing and other challenges of new models to share knowledge
I was really looking forward to this session and it didn't disappoint!

Deborah C. Poff , the new COPE chair and a philosopher from Ottawa titled her talk "Complexities and approaches to predatory publishing"

She spoke at lightning speed, getting faster as time began running out. It could have been at least a two-hour lecture, so jam-packed it was with really good stuff. I could barely keep up, so I hope I get the highlights right.

A definition for predatory publishing is problematic, as there is much overlap with legitimate but new or smallish publishers. She looked at necessary and sufficient conditions for a definition, but found that while deceit is necessary, sufficient conditions are vexing to try and capture.

PP cheat and deceive some authors charging publishing related fees without providing services; PP deceive academics into serving on editorial boards; PP appoint editorial board members without knowledge; no peer review; refuse to retract or withdraw problematic papers; etc.

The list goes on: Misleading reporting, language issues, lack of ethical oversight, lack of declarations of conflicts of interest, lack of corrections or retractions, lack of qualified EiC (if any), made-up rejection rates, false impact factors, false claims of being indexed in legitimate indexes, falsely claiming membership in publication ethics organization including forgery and falsifying logos of such organization. COPE apparently had to fight a forged COPE logo.

What should we call them, anyway? Arguments against the term "predatory": It is not descriptive or instructive, so some suggest using fake, rouge, questionable, parasitic, deceptive, etc.; predatory suggests victims, powerless people who are acted upon without their full knowledge, while a number of studies have shown that some scholars knowingly publish in such journals; Calling the issue "predatory" obviates or mitigates the personal responsibility for choosing where to publish.

The best argument for using the term: Since Jeffrey Beall coined the term, why not use it?
COPE is undecided on what name is best.

I particularly liked Deborah's stakeholder analysis of who or what is harmed by these publishers:

[Apr 11, 2020] The country that glorifies profit at any cost and ruthless unethical competition will fare bad in case of any virus epidemic. That includes "Typhoid Mary" cases of selfish anti-social behaviour

Highly recommended!
Ideologically COVID-19 is another nail in the coffin of neoliberalism.
Apr 11, 2020 | www.moonofalabama.org
bevin , Apr 10 2020 23:06 utc | 92
Diane Johnstone gets it right:

"...Today, quite a number of alternative media commentators are ready to believe in the absolute power not of God but of Mammon, of the powers of Wall Street and its partners in politics, the media and the military. In this view, nothing major happens that hasn't been planned by earthly powers for their own selfish interest.

"Mammon is wrecking the economy so a few oligarchs will own everything. Or else Mammon created the hoax Coronavirus 19 in order to lock us all up and deprive us of what little is left of our freedom. Or finally Mammon is using a virus in order to have a pretext to vaccinate us all with secret substances and turn us all into zombies.

"Is this credible? In one sense, it is. We know that Mammon is unscrupulous, morally capable of all crimes. But things do happen that Mammon did not plan, such as earthquakes, floods and plagues. Dislike of our ruling class combined with dislike of being locked up leads to the equation: They are simply using this (fake) crisis in order to lock us up!

"But what for? To whom is there any advantage in locking down the population? For the pleasure of telling themselves, "Aha, we've got them where we want them, all stuck at home!" Is this intended to suppress popular revolt? What popular revolt? Why repress people who aren't doing anything that needs to be repressed?...

"What is the use of locking up a population – and I think especially of the United States – that is disunited, disorganized, profoundly confused by generations of ideological indoctrination telling them that their country is "the best" in every way, and thus unable to formulate coherent demands on a system that exploits them ruthlessly? Do you need to lock up your faithful Labrador so he won't bite you?...

"....Mammon is blinded by its own hubris, often stupid, incompetent, dumbed down by getting away with so much so easily. Take a look at Mike Pompeo or Mike Pence – are these all-powerful geniuses? No, they are semi-morons who have been able to crawl up a corrupt system contemptuous of truth, virtue or intelligence – like the rest of the gangsters in power in a system devoid of any ethical or intellectual standards.

"The power of creatures like that is merely the reflection of the abdication of social responsibility by whole populations whose disinterest in politics has allowed the scum to rise to the top.

The lockdown decreed by our Western governments reveals helplessness rather than power. They did not rush to lock us down. The lockdown is disastrous for the economy which is their prime concern. They hesitated and did so only when they had to do something and were ill-equipped to do anything else. They saw that China had done so with good results. But smart Asian governments did even more, deploying masks, tests and treatments Western governments did not possess..."

https://consortiumnews.com/2020/04/10/covid-19-coronavirus-and-civilization/

[Apr 10, 2020] The Cargo Cult segment of the 1963 documentary "Mondo Cane" can be viewed here (it is the last segment of the film)

Apr 10, 2020 | www.moonofalabama.org

Really?? , Apr 9 2020 18:51 utc | 114

Stonebird @ 30

The Cargo Cult segment of the 1963 documentary "Mondo Cane" can be viewed here (it is the last segment of the film):

https://www.youtube.com/watch?v=M1xOTbgaLDs

[Apr 10, 2020] The New Normal: Cascading and Multilayered Crises by Vincent Emanuele

Apr 09, 2020 | www.counterpunch.org

"The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear."

– Antonio Gramsci

The Pandemic & Public Health Crisis

On January 20th, 2020, the first confirmed case of COVID-19 infection took place in the United States. Since then, over 240,000 Americans have tested positive for the COVID-19 virus, with over 6,000 dying as a result of the pandemic. The New York Times suggests that the actual numbers are likely 6-10 times higher than is being currently reported.

According to studies from the Center for Disease Control and Prevention (CDC), people with underlying health conditions such as diabetes, obesity, high cholesterol, high blood pressure, heart disease, and those who smoke, are at high-risk of severe illness or death if they contract the virus. Unfortunately, that's a lot of Americans.

Several days ago, Dr. Anthony Fauci estimated that anywhere between 100,000-240,000 Americans will die from COVID-19 by the end of August, and that's if "we do everything perfectly," as the good doctor put it. Since no one actually believes that the United States will conduct the response in a "perfect" manner, we can assume those numbers are low.

For the sake of discussion, let's assume they're correct. For some perspective, 116,708 Americans died in World War I (1914-1918). Roughly 416,800 Americans died in World War II (1941-1945). Over 40,000 Americans died in the Korean War (1950-1953). And 70,000 Americans died in the Vietnam War (1965-1975).

Perhaps we throw around large numbers too often, or maybe there's simply no way to humanize 240,000 lives -- regardless, we cannot allow the U.S. government to normalize gross numbers of fatalities, especially as a result of a completely preventable pandemic. Remember, this isn't a 'Natural Disaster' -- this is a 'Man Made Disaster,' and it should be treated as such. Yes, Trump is responsible, but he's not the only one. In fact, individuals aren't the problem. The entire Neoliberal Capitalist project is to blame.

Americans aren't unhealthy because they've made bad choices as individuals. Americans are disproportionately unhealthy (when compared to both industrialized and industrializing nations) and susceptible to the worst effects of COVID-19 because Neoliberal Capitalist policies have created a social, political, economic, and ecological context in which this pandemic can thrive and impose maximum destruction.

Deindustrialization, privatization, and deregulation, has driven down the cost of labor, creating millions of working-poor Americans who live on credit and swim in mounds of debt, while attempting to navigate a social landscape of food deserts, fast food chains, sugar-rich foods, and low-wage service sector work. This context creates a population of addicted, depressed, and desperate workers whose sole pleasure at the end of a long shift is a can of Coke and bag of potato chips.

People don't purposely make themselves obese and unhealthy. When people are put in desperate situations, they make impulsive decisions. That's how people behave in a context of scarcity and oppression. Unfortunately, this is exactly the social context in which COVID-19 could cause extreme and permanent damage.

The Political Crisis

The political context in the U.S. is equally disturbing. Since the 1970s, politicians have drifted further and further into the realm of absurdity and utter corruption. Gone are the days of enlightened debates. Enter the age of Trump, Tweets, and trolling.

As empires decline, so does the quality of their leaders. The U.S. might wish to run away from reality, but Uncle Sam can't run away from history. History has finally caught up with the U.S. Indeed, Donald Trump is the result of forty-plus years of hyper-individuality, 'greed is good' culture, superficial materialism, and a politics based not on substance or principles, but looks, marketability, and adherence to Neoliberal fundamentalist ideologies.

One of the few principled politicians in Washington D.C., Bernie Sanders, was raked over the coals by the corporate press for simply attempting to give Americans a basic social safety-net. That, for the Neoliberals, was too much. CNN and MSNBC unleashed the pundit hounds. The New York Times and Washington Post ran round-the-clock editorials about the "dangers" of Sanders' policies, his supposed "unelectability," and "radical" following, degrading the tens of millions of poor and working class people who largely see Bernie's campaign as their last electoral hope.

Now, Joe Biden is the frontrunner. As a result, virtually everyone I know and work with has checked out of the electoral scene. Most of my friends have already come to the conclusion that Trump will win again in 2020. Hell, his numbers continue to rise even in the midst of the deadliest pandemic in over a 100 years, a pandemic he could've prevented. Frustrating, but not surprising.

Most Americans have checked out of politics. It's not that they don't care. They just don't believe that participating will make a difference. Who could blame them, really? I'm 35 years old. The U.S. government hasn't implemented one major program that's benefitted me since the day I was born. Obamacare? Get real. Every major political institution in this country has rapidly deteriorated over the course of my life.

When I was 16, Bush II, with the help of his brother, stole the White House from Al Gore. No one really did anything about it, even Al Gore. That was 20 years ago. Since then, we've experienced 9/11, the Afghanistan War, the Iraq War, two terms of GWB, the 2008 Recession, Obama's bullshit 'Hope & Change,' which really meant 'More Of The Same,' the Tea Party, nationwide union busting efforts, the explosion of charter schools, Citizens United, corporate consolidation, financial deregulation, increasingly militarized policing, exploding prison populations, privatization of public goods and services, and elections that no one trusts because paper ballots are gone and billionaires own the electoral process. And yes, in 2016, the election of Donald Trump, the perfect ending to a 40 year nightmare.

Let's remember why Trump won in the first place. Trump defeated Hillary Clinton because Democrats stayed home. Bottom line. Democrats stayed home because they were betrayed by Obama, disgusted by Clinton, and upset about the entire 2016 primary process. As many others have pointed out, Trump is a symptom, not the disease. Here, we should be very clear: yes, Trump poses unique challenges and threats, but he is not the primary source of our collective problems. Our collective problems are structural, not individual, in nature.

Right now, the entire electoral-parliamentary process of representative democracy should be in question. Quite obviously, this particular mode of democratic participation has reached its limits. People are flat-out sick and tired of voting for politicians who answer to corporations. People are tired of the Democrat vs. Republican electoral carnival. Who could blame them? I'm tired of it. You're tired of it. We're all tired of it.

This is the toxic legacy of Reaganism, a bankrupt ideology that has destroyed the American political system, civic society, and popular culture. As a result, both major political parties have drifted so far to the right that people can barely tell the difference between the two. The Democratic Party is a walking corpse. And the Republican Party is full-blown batshit crazy. The Green Party doesn't really stand a chance, but I give them credit for trying to develop an alternative, however flawed it may be. After all, the Greens, not the Dems, came up with the 'Green New Deal.'

Large NGOs are moribund and, in many ways, counterproductive, even on their best days. Right now, the left contains no structural articulation of its politics beyond various regional organizations and radical local unions. In reality, most of 'the left' as we know it primarily exists in online forums and alternative media projects. The political situation is dire, no doubt.

The only way out of this mess is through deep organizing at the workplace and within communities. Tactically, this will take the form of massive strikes, street protests, targeted direct actions, and militant non-violent resistance. But people also need a vision and a strategy, and structures and institutions to carry out that vision and strategy. Right now, both are in short order. However, like all moments of immense historical crises, this context provides an opportunity to introduce radical alternatives, and hopefully, change course. If leftwing groups can't use this moment to radicalize and politicize people, shame on us.

The Crisis of Capitalism

Prior to the COVID-19 pandemic, despite what you might've heard on corporate news outlets, Global Capitalism was on the ropes. Liberal economists such as Paul Krugman and Dean Baker, but also leftwing economists such as Jack Rasmus, Doug Henwood, and Richard Wolff, among others, have been sounding the alarm bells for some time now. The pandemic ended up being the match that lit a combustible array of socio-economic ingredients, including wide-spread underemployment, entire legions of workers who've dropped out of the labor pool, millions living in poverty, millions more on the verge of poverty, stagnating wages, hundreds of thousands of Americans sleeping on the streets, tens of millions lacking health coverage, and the majority of Americans drowning in ever-growing debt.

The COVID-19 pandemic has laid bare the hollowness and brutality of Global Capitalism. The most vulnerable will endure the brunt of this pandemic. They already have. Those who were barely surviving before this crisis will be lucky to survive the crisis. And so it goes.

The multitude of injustices and structural inequalities that existed before the pandemic will be exacerbated during a global health crisis and economic depression. The brutal legacies of colonization, imperialism, and neo-imperialism put the most vulnerable at risk and expose a system that's incapable of providing even the most basic necessities to those most in need. In fact, quite the opposite, as Wall Street receives trillions of dollars for wrecking the global economy, ordinary Americans will have to wait weeks for their measly $1,200 stimulus checks.

Unlike 2008, the free marketeers are nowhere to be found. During the Great Financial Recession, the market fundamentalists wanted the whole system to collapse. The financial press blamed the recession on overpaid auto workers and poor families, especially poor black families, who the corporate pundits insisted "bought homes they couldn't afford." That was the dominant narrative in 2008. The calls for austerity were swift and loud. This time around, not so much.

Today, millions of Americans identify as socialists, and Bernie Sanders' policies, flawed and inadequate as they may be, are supported by the majority of Democrats, many Independents, and even some Republicans. It's true that Bernie's policies aren't 'socialist' in the traditional sense, but they're socialistic in nature, and provide a welcome alternative to Neoliberal barbarism. Thanks to Occupy Wall Street and radical unions, today's context is much different. Americans are much further to the left than they were twelve years ago.

Ralph Nader has long described the U.S. economic system as "socialism for the rich, and rugged individualism for the rest of us." This is true. As Christian Parenti points out in a recent article in Jacobin , the financialization of the U.S. economy is already largely socialized, using public funds to prop-up private institutions, but with little to no social benefit for poor and working class people. Today, the COVID-19 pandemic shows us that the state is more important than ever before. Indeed, the Federal Government is the only entity powerful enough to reign-in capital. Ironically, as Parenti notes, only socialist policies can revive 21st Century Capitalism.

The state is also the only entity capable of dealing with a pandemic: providing healthcare supplies, financial resources, dealing with supply chain and logistical challenges, directing private sector production, etc. Here, we are witnessing in real-time the fundamental limits of private power and market fundamentalism within the context of a global healthcare crisis. Now is not the time to coddle capitalism -- now is the time to castrate capitalism. Unless the left has a strategy to bypass the state and provide the many services the state provides by alternative means, our approach to the ensuing economic depression must include an analysis of state power, how it relates to capital, and how leftwing organizations and movements relate to both.

Historian Alfred McCoy, in his recent book, In the Shadows of the American Century , notes that China will overtake the U.S. as the largest economy in the world by 2030, perhaps sooner (Trump & COVID-19 have helped). Then again, China faces its own internal dilemmas, including an increasingly affluent workforce that's very much interested in liberal democratic norms, and a growing number of repressed workers who are fighting back against China's unique brand of 'Authoritarian Capitalism.' Some of the same contradictions and questions can be applied to India, the world's 5th largest economy, authoritarian-religious nationalism, and hundreds of millions of precarious workers provide a potentially explosive political context.

Without question, capitalism will survive COVID-19. The unfolding COVID-19 pandemic and economic crises will alter the future of capitalism. The real question is: how can workers and ordinary people nudge things in a preferred direction, a path that leads to more collectivism and cooperation? How can we exploit the contradictions within the system? How can we ruthlessly expose the inherent limitations and internal contradictions of capital accumulation?

Most importantly, we must not exit this crisis with a more authoritarian version of capitalism. Giving the banks and multinational corporations more power is a death knell for the human species and much of the planet. Time is running out. The economic shocks will continue in frequency and severity. Now is the time for alternatives.

The Crisis of Militarism & Empire

Since 9/11, the U.S. has bombed seven nations: Afghanistan, Iraq, Pakistan, Libya, Syria, Somalia, and Yemen. U.S. troops remain in Iraq, Afghanistan, Syria, and Libya, with special forces operations taking place in Pakistan and Somalia. The ongoing war in Afghanistan is the longest war in U.S. history. And the U.S. continues to economically, logistically, politically, and militarily support the systematic repression and genocide of the Palestinian people vis a vi the brutal Israeli regime.

According to military historian, Nick Turse, U.S. forces conduct, on average, three combat or intelligence missions per day on the continent of Africa. Of course, Uncle Sam's growing footprint in Africa has gone virtually unreported in the corporate press. In October, 2017, when 9 U.S. troops were killed in the 'Tongo Tongo Ambush' in Niger, most Americans had no idea that U.S. troops were even stationed in Niger, let alone conducting combat missions. While it's true that U.S. Empire is in decline, it's also true that empires throughout history lash out during their final days, leaving a path of destruction in their wake.

As a result, the human cost of the post-9/11 'War on Terror' has been immense. Iraq: 300,000-1,000,000 dead. Syria: 400,000-600,000 dead. Afghanistan: 120,000 dead. Libya: 30,000 dead. Pakistan: 50,000 dead. Somalia: (unknown). Yemen: 100,000 dead. On the U.S. side, over 7,000 troops have lost their lives in Iraq, Afghanistan, Syria, and Pakistan, with more than double that number of private contractors dying in U.S.-led conflicts.

The Great Oil Wars of the early 21st Century have also caused the greatest refugee crisis since World War II, with more than 100,000 Syrian refugees fleeing their war-torn country, and over 3 million Iraqis internally displaced. Tens of thousands have fled Libya. The same is true in Pakistan. Millions abroad live in abject poverty and suffer preventable diseases as a result of Uncle Sam's military adventures.

Veterans of course, also suffer from Uncle Sam's hubris, with over 10,000 having committed suicide since 9/11. On a personal note, I've lost more of the marines from my platoon than died during our unit's three combat deployments to Iraq.

Dr. Martin Luther King Jr. once said: "The bombs in Vietnam explode at home -- they destroy the dream and possibility for a decent America." The same is true today, as the United States spends what the next 15 nations spend combined on its military empire ($750 billion a year), a monstrosity and sign of deep societal decay. According to Brown University, the wars in Iraq and Afghanistan have cost U.S. taxpayers $5.9 trillion. With that money, the U.S. government could've paid off every Americans' credit card, student loan, and auto loan debt, and still had money left over.

As the U.S. spends trillions of dollars on weapons of war, hospitals run out of surgical masks and ventilators. A ventilator costs anywhere from $10,000 to $50,000 -- a tomahawk missile costs $1.4 million.

Like every empire, the U.S. has drained its domestic resources to maintain its imperial hegemony, but that influence is waning with time. As the republic crumbles under the weight of its own internal contradictions, U.S. allies are distancing themselves, while Uncle Sam's foes are becoming increasingly empowered with each blunder and catastrophe that's unfolded since 9/11. As Chomsky points out, the U.S. has been in decline since World War II, the peak of Uncle Sam's imperial prowess.

Already, Trump is using the COVID-19 pandemic as an excuse to ramp-up tensions with both Venezuela and Iran, two countries the U.S. has been politically, militarily, and economically terrorizing for decades. During the pandemic, U.S.-imposed sanctions in Iran have caused a disproportionate number of deaths due to lack of proper health equipment and medicine.

Fortunately, several European countries have broken the sanctions and delivered medical goods to the Iranian government. Also, as we speak, Trump has directed the U.S. Navy to move several U.S. Navy ships in close proximity to Venezuelan waters under the pretext of "curbing drug smuggling" -- no doubt a top priority during the worst pandemic since 1918.

History shows us that every empire eventually confronts the same choice: maintain military forces and watch the republic crumble from within, or de-escalate conflicts, demilitarize, and maintain some semblance of a functioning state. The Roman Empire chose the former. The British Empire chose the latter. The coming decade will determine which path Uncle Sam chooses. If the last 20 years are a window into the future, God help us all.

If we hope to survive the next pandemic, the U.S. government must redirect the resources it's currently spending on weapons of war, and instead invest in public healthcare infrastructure (hospitals, equipment, resources, nurses, personnel, EMTs), public education (medical schools, tuition free), housing (free and available to all), and research and development.

If we hope to survive the coming decades, the U.S. government must redirect its vast resources to mitigating climate change and ecological devastation.

The Climate & Ecological Crisis

The world has ten years to make radical changes to the global economy and its relation to fossil fuel production and consumption or the planet will be uninhabitable by the end of the century. Climate Change isn't the issue , it's the overarching context in which we now exist. Everything we do or don't do over the next ten years will determine whether or not future generations will inhabit a living planet, or a barren wasteland.

There is simply no way to downplay the urgency of our collective challenge. As author David Wallace-Wells' notes in his latest book, The Uninhabitable Earth: Life After Warming , "we could potentially avoid 150 million excess premature deaths by the end of century from air pollution (the equivalent of 25 Holocausts or twice the number of deaths from World War II) if we could limit average global warming to 1.5 degrees Celsius." Right now, we're on track to hit 1.5 degrees Celsius by as early as 2030.

In the future, numbers will matter. The 100,000-240,000 Americans projected to die from COVID-19 will soon turn into numbers like 1,000,000-5,000,000. What we accept today, we'll be expected to accept tomorrow.

In some ways, we've already accepted mass death, but our relationship to the living world is so warped that these numbers don't seem to shake us. Species extinction rates are 100-1,000 times faster than they were, on average, during the evolutionary time-scale of planet Earth. More than 100 go extinct every single day.

Oceans have been destroyed by toxic materials, dumping, shipping, and large-scale industrial fishing. Coral reefs are dying. Warming temperatures mean less phytoplankton, which means less oxygen, which means more carbon dioxide. Some studies suggest that most of the large fish in the world's oceans will be gone by 2050. Deforestation continues at breakneck speeds, ravaging ecosystems and leaving nothing behind. Ice caps melt. Prairies destroyed for suburban developments. Mountains leveled for minerals. Lakes drained for bottled water. Rivers polluted for industry. Life murdered for profit.

The level of ecological disruption and destruction industrial society has unleashed on the living world is unparalleled. And time is running out.

The IPCC (Intergovernmental Panel on Climate Change) report, Global Warming of 1.5 degree Celsius , outlines our reality: if we wish to hold the line to 1.5 degrees, we have to cut emissions by about 45% from 2010 levels by 2030. Then, we have to reach net-zero around 2050. That's to avoid the 250 million deaths Wallace-Wells mentioned. So far, none of that is happening. In fact, we're moving in the opposite direction as global emissions rise each year.

If we continue at current rates of emission, global temperature could rise by 7 degrees Celsius, and the number of human deaths from pollution could rise to 1-3 billion by 2100. That's not including deaths due to habitat loss, crop failure, lack of fresh water, lack of medical care, lack of housing, rising sea levels, lack of employment, addiction, suicide, unbearable temperatures, failing governments, collapsing economies, and everything that comes with those cascading crises: tribal war, banditry, barbarism, and eventually, genocide.

The Totality of Our Crisis

Without question, the stakes couldn't be higher. In many ways, the COVID-19 pandemic and ensuing economic depression is a dress rehearsal for the future. From here on out, each crisis will be more pronounced and severe than the last. The new normal is cascading and multilayered crises all playing out at the same time. How we collectively respond to this crisis will determine how we respond to the impending large-scale crises of the future, not the least of which being Climate Change. So far, we're failing miserably.

If the United States can't handle a small-scale pandemic and virus that's moderately deadly, though admittedly quite disruptive, how can we expect the government to cope with tens of millions of climate refugees fleeing their homes in the coming decades, while seeking housing, employment, and safety in cities and counties already strapped for resources?

If capitalists already are taking advantage of this pandemic, netting trillions of dollars from the Federal Reserve and U.S. Treasury, while simultaneously jacking up the price of medical equipment and charging poor victims exorbitant amounts of money for health insurance, needed medicine, and hospital treatment, how can we expect them to behave in the context of rapid ecological collapse?

If the state is incapable of providing even menial assistance to poor and working class Americans during the worst pandemic in over 100 years, how can we expect the state to behave in the context of cascading and multilayered crises unfolding at a rapid pace over a short period of time, crises that will undoubtedly require massive state intervention in the economy?

Unfortunately, we know the answers to these questions, but only if most poor and working class people remain unorganized or unwilling to fight back.

Let's remember, all of this takes place within a context of many unnamed crises, many of which weren't mentioned in this essay. Some of those include gun culture/NRA (weapons sales are at all-time highs since the pandemic started), police militarism, the prison-industrial complex (already being used to manufacture surgical masks, while prisoners remain trapped in COVID-19 incubators), patriarchy (domestic violence calls have skyrocketed during the pandemic), homelessness (500,000 Americans can't 'stay at home'), systemic racism (already, statistics show that black people are disproportionately impacted by and suffering the worst effects of COVID-19), housing (Americans already spend a insane amounts of their income toward rent/mortgage payments -- those problems have only accelerated during the pandemic), childcare (cash-strapped families and single parents choosing between safety and work), and the list goes on, and on.

Every single aspect of our society is under extreme stress. Even the most passive populations can only take so much. Human beings can only take so much. The living world can only take so much. Eventually, things will explode.

The question is: how? Will poor and working class Americans turn that despair and cynicism into a righteous anger and rage? And if so, who will that anger and rage be directed toward? Each other? Or the powerful elites?

The current social context in the U.S. and across the globe is ripe for radical political change, but that change doesn't necessarily have to be progressive in nature. It could also be reactionary and fueled by religious extremism, xenophobia, racism, and tribalism. That's up to us. Join the debate on Facebook More articles by: Vincent Emanuele

Vincent Emanuele writes for teleSUR English and lives in Michigan City, Indiana. He can be reached at [email protected]

[Apr 06, 2020] A sound banker, alas! is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him. ~Keynes

Highly recommended!
Apr 06, 2020 | www.nakedcapitalism.com

notabanktoadie , April 6, 2020 at 8:04 am

A sound banker, alas! is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him. Keynes via Yves

The problem is that the payment system, besides grubby coins and paper Central Bank notes (e.g. Federal Reserve Notes), must work through private depository institutions or not at all.

How then can we have a sound economy when it is held hostage by "sound" bankers?

And are not the banks a form of rentier – who rent the Nation its money supply?

Then where are the proposals of the MMT School to euthanize those rentiers?

[Apr 05, 2020] Capitalism is the legitimate racket of the ruling class. Al Capone

Apr 05, 2020 | www.moonofalabama.org

Mao , Apr 6 2020 2:25 utc | 134

Al Capone Money Quote saying that being a capitalist is the legitimate racket of those in power – with laws to back it up. Al Capone said:

"Capitalism is the legitimate racket of the ruling class."

https://itsamoneything.com/money/wp-content/uploads/Al-Capone-Capitalism-Ruling-Class-Racket.jpg

[Apr 05, 2020] Hegemonic ideologies tend to naturalize socioculturally-generated pathologies, often dismissing them as "human nature."

Greed is good/ Of course it is, but not for everybody ;-)
Apr 05, 2020 | www.moonofalabama.org
susan , Apr 3 2020 3:18 utc | 192
Richard Steven Hack @101

Since two others have mentioned this, I'll thrown this out.

Hegemonic ideologies tend to naturalize socioculturally-generated pathologies, often dismissing them as "human nature."

I don't understand you to be necessarily doing this when you identify "human nature" with callous self-centeredness given your other writing (and generously shared links) but it does sound like you are using the term too loosely in your post for materialists and others to philosophically stomach. I am not the only one who objected to the usage upon reading.

Can "human nature" be identified, labeled, discussed separate from historical and material conditions? Is "human nature" not constituted via dialectical processes at multiple levels occurring through time and space, not least of all cultural which is shaped by socioeconomic conditions.

[Mar 28, 2020] Neoliberal priorities: plenty of USG resources for Pentagon and to run pandemic war games but no money to create the most basic stockpiles (thermometers, face masks, gloves)

Highly recommended!
Notable quotes:
"... DONALD TRUMP: Nobody knew there'd be a pandemic or an epidemic of this proportion. ..."
"... Trump is like the kid who played video games when he should have been doing his homework, then failed miserably on the test and tried to bullshit his way through the essay questions. ..."
"... As you are probably aware, a handful of elected leaders were selling their stock while assuaging the public about the dangers of the pandemic. We've gone from incompetence, to negligence, to outright profiteering. ..."
Mar 21, 2020 | caucus99percent.com

Last year, the Dept. of Health and Human Services ran a 7 month long exercise code named "Crimson Contagion," a dry run response to a global pandemic which started in China and expected more than 100 million Americans to become ill.

The simulation highlighted several failures in our preparedness for such a catastrophe .

DONALD TRUMP: Nobody knew there'd be a pandemic or an epidemic of this proportion.

The New York Times broke this story yesterday, but as it's behind a paywall I won't link to it. But there's a good interview with one of the authors conducted by NPR.

Trump is like the kid who played video games when he should have been doing his homework, then failed miserably on the test and tried to bullshit his way through the essay questions.

As you are probably aware, a handful of elected leaders were selling their stock while assuaging the public about the dangers of the pandemic. We've gone from incompetence, to negligence, to outright profiteering.


QMS on Sat, 03/21/2020 - 11:05am
good point Marie

@Marie

dropping bombs and sanctioning free commerce in other countries is the American way of protecting the proceeds of the sociopaths
not such a good way to stop pandemics. Not in my name congress

Marie on Sat, 03/21/2020 - 11:57am
We do have a weird definition of national security.

@QMS
Fifty-six years dumping an untold number of dollars into "keeping us safe" from a foreign invader and the one time it happened, not any of the resources were worth a damn.

The problem isn't so much that the real threats are unknown, at least not in broad outline form, but they're not "sexy." Not amenable to what the military and cloak and dagger spy guys are into. And the perpetual USG budgets for the sexy stuff is far more profitable. And is better suited to hiding all the graft and corruption (and employing the surplus and unskilled labor that elite universities crank out) that upset ordinary people fearful that some undeserving person would get something for free from the USG.

Cant Stop the M... on Sat, 03/21/2020 - 3:52pm
Apparently medical supplies don't count as military

@Marie

supplies, either. Well, given how the govt likely views our soldiers, I guess that's not surprising.

pandemic war games but no money to implement the most basic stockpiles (thermometers, face masks, gloves) that would be very helpful in containing a virus. The larger serious shortcomings in the US are mostly intractable due to the "best" health care system that money can buy.

[Mar 28, 2020] Free market and wage arbitrage

Mar 28, 2020 | www.theamericanconservative.com

Kessler 11 hours ago

I'd add another consideration.

Let's say Bob can make 10 high-quality wigets per hour, while Jim can make 8 medium-quality wigets per hour. Bob gets paid 100$, while Jim gets paid 50$. Bob is more efficient and productive worker. But he will be fired and replaced by Jim, because Jim's cost of labor is lower. In this case market will eliminate the more productive worker in favor of a less productive one.

Now, within one nation this difference in wages will be very unlikely and quickly adjusted by the market. But between nations, Jim could be living in a poor country, where he can afford to survive on 50$, while Bob lives in a rich country with high rents and high product costs, so he'd barely get by on 100$.

So, how much of the global trade is increasing overall value due to local advantages and how much is just shifting value from some people in favor of others? And shouldn't we favor the first and minimize the second?

tz1 10 hours ago
We did test the antifragility.

Warnings like this have been happening over the past decade, and there are books (Poorly made in China) showing each part of the threat.

Each time, it was "Interview with a Zombie" with someone from NR, or Cato, or Mises, or even here, gurgling "Freeeeee Traaaade; Laaaazeeeee Faaaaire".

Trade has frictional costs. The shipping between the Ricardian tautological countries is not free. If it costs $10,000 to send the products to the destination, there is no comparitive advantage. Nature provides barriers.

But even worse, there is NO free trade, just regulatory arbitrage. Lets say you need to open a factory. You can:

1. Open it here and wait for the swarms of agents from OSHA, EEOC, EPA, IRS, etc. to harrass you and eat out your substance, and your workers to be treated like people, and have to get loans from an often hostile banking system that prefers wall street ETFs. An implacable bunch of socialists and SJWs that think Capitilists are evil and capitalism must be destroyed or just people on power trips will constantly try to close you down and bankrupt you personally and throw you in prison.

2. Open it in China where they will kick farmers off the land and build it for you, and staff it with disposable workers and you can just dump pollution into the local stream. There will be the customary cultural cronyism and corruption, but that's what a consultant is for (Poorly made in china, whats wrong with China). But it is the symbiont that wants to keep the host healthy so there will be the most blood to skim.

3. Open it in Mexico where it also has different customs than China, but the crony corruption is still far easier to deal with and less expensive than the Destroyer Obamabots.

john 7 hours ago
Capitalism is really good at optimizing for lowest cost, it is really bad at dealing with "externalities" like a once in a hundred year global pandemic. Governments should take the "long view" well at least 4-5 years at a time. Corporations look at things more quarter to quarter.
Jorge Morales Meoqui 3 hours ago
As Nassim Taleb in his book Antifragile, the two authors are making a straw men argument with regard to David Ricardo.

I don't blame them. They are repeating what is written in most economics textbooks about the theory of comparative advantage. How they should know that this textbook theory is based on a misinterpretation of Ricardo's famous numerical example. (See here: https://dx.doi.org/10.2139/...

Ricardo did not assume that prices would remain stable, nor did he recommended that a nation should specialise in one major industry or that no two agents should specialise in the same industry. Depending on a single supplier is indeed a risky bet, but that is not what their original case for free trade recommended. On the contrary, it was meant to be a remedy against national and foreign monopolies.

Many lessons can be learned from the present crisis. To make countries less vulnerable or fragile to pandemics like COVID-19, we need robust public health care systems that covers all its residents. The health care system needs to have excess capacities (hospital beds, medical personal, ) and sufficient stocks (masks, ventilators, ) to handle the significant increase in the number of patients during pandemics. We need more international cooperation, coordination and solidarity, not less. So the exact opposite of protectionism and national solo efforts.

[Mar 28, 2020] Contrary to free-market catechism, the pursuit of profit frequently runs contrary to the public's well-being

Mar 28, 2020 | www.unz.com

obwandiyag , says: Show Comment March 27, 2020 at 5:32 pm GMT

"Contrary to free-market catechism, the pursuit of profit frequently runs contrary to the public's well-being. This is especially true in an industry devoted to inventing and manufacturing health-giving and life-saving drugs."

https://jacobinmag.com/2020/3/gilead-orphan-drug-remdesivir-coronavirus

The free market is for chumps and the parasties who feed on them.

[Mar 28, 2020] On disappearance of certain drugs

Highly recommended!
Mar 28, 2020 | www.unz.com

obwandiyag , says: Show Comment March 26, 2020 at 9:03 pm GMT

They have every right to suppress cures and raise prices.

It's the free market. Don't you people get it?

Realist , says: Show Comment March 27, 2020 at 11:51 am GMT
@obwandiyag

They have every right to suppress cures and raise prices.

It's the free market. Don't you people get it?

Sadly that's what the free market means to the wealthy and powerful.

Oracle , says: Show Comment March 27, 2020 at 2:43 pm GMT
More activity on the dark, unethical side of capitalism. There's an entire history of it, opium wars, Atlantic slave trade, pornography, control of political agents through pedophilia. The list does go on and strangely enough it's usually the same actors.

[Mar 28, 2020] Just imagine the French hoity toity now not having to put up with the yellow vests in the streets. Must be such a comforting relief.

Mar 28, 2020 | www.unz.com

Old and Grumpy , says: Show Comment

[Mar 28, 2020] One common flavour of modern idiotism: I've heard doctors and pharmacists complain that patients will get offended when prescribed a cheaper, older drug. They want the best and newest, they need and deserve it!

Highly recommended!
Mar 28, 2020 | www.unz.com

Redneck farmer , says: Show Comment March 27, 2020 at 10:09 am GMT

There is also a tendency to think newer=better. I've heard doctors and pharmacists complain that patients will get offended when prescribed a cheaper, older drug. They want the best and newest, they need and deserve it!
Jake , says: Show Comment March 27, 2020 at 11:42 am GMT
@Redneck farmer That is because advertising works. Drug companies being allowed to advertise guaranteed that predators, such as the Sacklers, would want to own drug companies.
Oracle , says: Show Comment March 27, 2020 at 2:43 pm GMT
More activity on the dark, unethical side of capitalism. There's an entire history of it, opium wars, Atlantic slave trade, pornography, control of political agents through pedophilia. The list does go on and strangely enough it's usually the same actors.

[Mar 27, 2020] We have to beg for hand sanitizer? It's almost like we are one of the nations under strct USA sanction

Mar 27, 2020 | www.moonofalabama.org

karlof1 , Mar 26 2020 23:56 utc | 90

Just one of many important anecdotal observations :

"We have to beg for hand sanitizer? It's almost like we are one of the nations we sanction."

[Mar 27, 2020] Exactly when did behaviour of neoliberals become a bunch of out-takes from Catch-22?"

Mar 27, 2020 | www.moonofalabama.org

bevin , Mar 27 2020 1:17 utc | 98

johnbrewster@77
Here's a story from today's Toronto Star. It's a neoliberalism story and goes well with Pepe Escobar's piece in Asia Times (see above for link)
Basically the Province of Ontario stockpiled everything need for the pandemic that SARs warned them was bound to come.

Then, a couple of years ago, they destroyed the stockpiles including 55 million facemasks.

Now there are no face masks to be found and medical staff, inter alia, are having to take totally unnecessary risks.

Why did this happen? Because neo-liberalism is all about profits and fiscal austerity: as soon as the masks got beyond their 'best before' date they were destroyed - so the manufacturers could have another bite at the cherry and sell another 55 million masks. But then, austerity, the need to finance tax cuts for the wealthy, stepped in so the orders were not renewed. And people will die, horrible deaths, as a result.


https://www.thestar.com/opinion/star-columnists/2020/03/25/province-stockpiled-55-million-face-masks-then-destroyed-them.html

[Mar 27, 2020] Looks like the USA and the Soviet Union traded jerseys after the wall fell.

Mar 27, 2020 | www.moonofalabama.org

steve , Mar 26 2020 22:46 utc | 75

For me the USA and the Soviet Union traded jerseys after the wall fell. The USA took victory way to seriously.

[Mar 27, 2020] Larry Summers should have a drink named after him

Mar 27, 2020 | www.moonofalabama.org

uncle tungsten , Mar 26 2020 19:46 utc | 22

karlof1 #10

Larry Summers should have a drink named after him.
Ofshore double hoarder
Safebreaker with tonic
Gin and plunder scammer


Thanks b,I bought last roll of narrow elastic yesterday and will cut up some old silk shirts today.

[Mar 27, 2020] Trump's about as innocent in the coronavirus fiasco as jack the ripper

Mar 27, 2020 | www.moonofalabama.org

Miss Lacy , Mar 26 2020 20:32 utc | 35

PS to vk # 1. Please think again. Trump has been in a trade war with China for what? a couple of years? AND, he specifically banned imports of medical supplies from China. Other posters wave supplied links for this idiocy.

Trump's about as innocent as jack the ripper. You may just be seeing things relatively, as ghouls like Elliot Abrahms and disgusting Pomposity make Trump seen like an amateur.

[Mar 26, 2020] Reflections on a Century of Junk Science

Highly recommended!
Mar 26, 2020 | www.unz.com

Kratoklastes , says: Show Comment Next New Comment March 25, 2020 at 6:16 pm GMT

@thotmonger

I also remember some of early estimates of Mad Cow disease in humans in UK and they turned out to be very exaggerated.

When the political class was trying to de-gay HIV/AIDS in 1987, they had Oprah tell everyone that 20% of heterosexual people would be dead before 1990.

The first I learned of Oprah's jaw-droppingly sensationalist remarks, was in a piece a couple of days ago on AmericanThinker (which sounds like a rare bird indeed, if not an outright oxymoron – but it has good stuff from time to time).

Anyhow, it was an interesting piece – entitled " Reflections on a Century of Junk Science " by the author of " Hoodwinked: How Intellectual Hucksters Have Hijacked American Culture ", which I will acquire today. (The book's 11 years old, but sounds like it will be along the same lines as Kendrick's " Doctoring Data: How to Sort Out Medical Advice from Medical Nonsense ", which was excellent).

[Mar 25, 2020] Goldman Gives CEO 20% Raise - While Forecasting Major Coronavirus-caused Financial Crash for Americans

Mar 25, 2020 | www.unz.com

Boiling frogss , says: Show Comment March 25, 2020 at 1:46 pm GMT

Goldman Gives CEO 20% Raise-

While Forecasting Major CoronaVirus-Caused Financial Crash for Americans

https://www.youtube.com/embed/MFinbvX0Jg0?feature=oembed

https://www.youtube.com/embed/IXatS9PeuCU?feature=oembed

[Mar 24, 2020] Welcome to Sweatshop Amerika! by Mike Whitney

Mar 24, 2020 | www.unz.com

The Unz Review: An Alternative Media Selection A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media User Settings: Version? Social Media? Read Aloud w/ Show Word Counts No Video Autoplay No Infinite Scrolling
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Imagine if the congress approved a measure to form a public-private partnership between the US Treasury and the Federal Reserve. Can you imagine that?

Now imagine if a panicky and ill-informed Congress gave the Fed a blank check to bail out all of its crooked crony corporate and Wall Street friends, allowing the Fed to provide more than $4.5 trillion to underwater corporations that ripped off Mom and Pop investors by selling them bonds that were used to goose their stock prices so fatcat CEOs could make off like bandits. Imagine if all that red ink from private actors was piled onto the national debt pushing long-term interest rates into the stratosphere while crushing small businesses, households and ordinary working people.

Now try to imagine the impact this would have on the nation's future. Imagine if the Central Bank was given the green-light to devour the Treasury, control the country's "purse strings", and use nation's taxing authority to shore up its trillions in ultra-risky leveraged bets, its opaque financially-engineered ponzi-instruments, and its massive speculative debts that have gone pear-shaped leaving a gaping black hole on its balance sheet?

Well, you won't have to imagine this scenario for much longer, because the reality is nearly at hand. You see, the traitorous, dumbshit nincompoops in Congress are just a hairs-breadth away from abdicating congress's crucial power of the purse, which is not only their greatest strength, but also allows the congress to reign in abuses of executive power by controlling the flow of funding. The power of the purse is the supreme power of government which is why the founders entrusted it to the people's elected representatives in congress. Now these imbeciles are deciding whether to hand over that authority to a privately-owned banking cartel that has greatly expanded the chasm between rich and poor, incentivized destructive speculation on an industrial scale, and repeatedly inflated behemoth asset-price bubbles that have inevitably blown up sending stocks and the real economy into freefall. The idea of merging the Fed and the Treasury first appeared in its raw form in an article by former Fed chairman Ben Bernanke and Janet Yellen in the Financial Times. Here's a short excerpt from the piece:

"The Fed could ask Congress for the authority to buy limited amounts of investment-grade corporate debt The Fed's intervention could help restart that part of the corporate debt market, which is under significant stress. Such a programme would have to be carefully calibrated to minimize the credit risk taken by the Fed while still providing needed liquidity to an essential market." ( Financial Times )

The Fed is not allowed to buy corporate debt, because it is not within its mandate of "price stability and full employment". It's also not allowed to arbitrarily intervene in the markets to pick winners and losers, nor is it allowed to bailout poorly-managed crybaby corporations who were gaming the system to their own advantage when the whole deal blew up in their faces. That's their problem, not the Fed's and not the American taxpayer's.

But notice how Bernanke emphasizes how "Such a programme would have to be carefully calibrated to minimize the credit risk taken by the Fed". Why do you think he said that?

He said it because he anticipates an arrangement where the new Treasury-Fed combo could buy up to "$4.5 trillion of corporate debt" (according to Marketwatch and BofA). And the way this will work, is the Fed will select the bonds that will be purchased and the credit risk will be heaped onto the US Treasury. Apparently Bernanke and Yellen think this is a "fair" arrangement, but others might differ on that point.

Keep in mind, that in the last week alone, investors pulled a record $107 billion out of corporate bonds which is a market which has been in a deep-freeze for nearly a month. The only activity is the steady surge of redemptions by frantic investors who want to get their money back before the listing ship heads for Davey Jones locker. This is the market that Bernanke wants the American people to bail out mainly because he doesn't want to submerge the Fed's balance sheet in red ink. He wants to find a sucker who will take the loss instead. That's where Uncle Sam comes in, he's the target of this subterfuge. This same theme pops up in a piece in the Wall Street Journal. Check it out:

"At least Treasury has come around to realizing it needs a facility to provide liquidity for companies. But as we write this, Mr. Mnuchin was still insisting that Treasury have control of most of the money to be able to ladle out directly to companies it wants to help. This is a recipe for picking winners and losers, and thus for bitter political fights and months of ugly headlines charging favoritism. The far better answer is for Treasury to use money from Congress to replenish the Exchange Stabilization Fund to back the Fed in creating a facility or special-purpose vehicles under Section 13(3) to lend the money to all comers. "( "Leaderless on the Econom" , Wall Street Journal)

I can hardly believe the author is bold enough to say this right to our faces. Read it carefully: They are saying "We want your money, but not your advice. The Fed will choose who gets the cash and who doesn't. Just put your trillions on the counter and get the hell out."

Isn't that what they're saying? Of course it is. And the rest of the article is even more arrogant:

"The Fed can charge a non-concessionary rate, but the vehicles should be open to those who think they need the money, not merely to those Treasury decides are worthy." (Huh? So the Treasury should have no say so in who gets taxpayer money??) The looming liquidity crisis is simply too great for that kind of bureaucratic, politicized decision-making. (Wall Street Journal)

Get it? In other words, the folks at Treasury are just too stupid or too prejudiced to understand the subtleties of a bigass bailout like this. Is that arrogance or what?

This is the contempt these people have for you and me and everyone else who isn't a part of their elitist gaggle of reprobates. Here's a clip from another article at the WSJ that helps to show how the financial media is pushing this gigantic handout to corporate America:.

"The Federal Reserve, Treasury Department and banking regulators deserve congratulations for their bold, necessary actions to provide liquidity to the U.S. financial system amid the coronavirus crisis. But more remains to be done. We thus recommend: (1) immediate congressional action . to authorize the Treasury to use the Exchange Stabilization Fund to guarantee prime money-market funds, (2) regulatory action to effect temporary reductions in bank capital and liquidity requirements (NOTE–So now the banks don't need to hold capital against their loans?) .. additional Fed lending to banks and nonbanks .(Note -by "nonbanks", does the author mean underwater hedge funds?)

We recommend that the Fed take further actions as lender of last resort. First, it should re-establish the Term Auction Facility, used in the 2008 crisis, allowing depository institutions to borrow against a broad range of collateral at an auction price (Note–They want to drop the requirement for good Triple A collateral.) Second, it should consider further exercising its Section 13(3) authority to provide additional liquidity to nonbanks, potentially including purchases of corporate debt through a special-purpose vehicle" ( "Do More to Avert a Liquidity Crisis" , Wall Street Journal )

This isn't a bailout, it's a joke, and there's no way Congress should approve these measures, particularly the merging of the US Treasury with the cutthroat Fed. That's a prescription for disaster! The Fed needs to be abolished not embraced as a state institution. It's madness!

And look how the author wants to set up an special-purpose vehicle (SPV) so the accounting chicanery can be kept off the books which means the public won't know how much money is being flushed down the toilet trying to resuscitate these insolvent corporations whose executives are still living high on the hog on the money they stole from credulous investors. This whole scam stinks to high heaven!

Meanwhile America's working people will get a whopping $1,000 bucks to tide them over until the debts pile up to the rafters and they're forced to rob the neighborhood 7-11 to feed the kids. How fair is that?

And don't kid yourself: This isn't a bailout, it's the elitist's political agenda aimed at creating a permanent underclass who'll work for peanuts just to eek out a living.

Welcome to Sweatshop Amerika!


anachronism , says: Show Comment March 23, 2020 at 5:03 am GMT

In 2008-2009, the Federal Reserve bailed out the global banking system to the tune of $16 Trillion. But American citizens were left to pay usurious rates of interest on $1 Trillion of credit card debt. And American students had lost years of economic opportunity but their $1 Trillion dollars of debt could not be discharged through bankruptcy.

This time the banks should stand behind the debtors at the government troth.

anachronism , says: Show Comment March 23, 2020 at 5:06 am GMT
It's hard to understand how holiday cruise shipping can be regarded as an essential business.

It is almost as hard to understand why a "Globalist Enterprise" should be spared its fate through the generosity of of one country. Even harder to understand, why would that one country should bail out a business, which had employed both tax-avoidance schemes as well as strategy import substitution and foreign investment to improve its profits at the expense of that country.

Nationalism is better that globalism. The current crisis was not caused by globalism; but globalism has drained from our country the means to respond to the crisis with the medicines and equipment that would reduce its severity.

Not a single cent of government aid should go toward a person or an entity outside the United States and it territories. Conditions should be placed upon such aid, so that the companies receiving it, must domesticate their supply chains, and must produce and develop their products within the United States.

Kim , says: Show Comment March 23, 2020 at 5:38 am GMT
@anachronism Make the universities discharge the student debt. It was their scam all along. They can begin by retrenching their schools of the humanities and at least halving their administrative staff. And end building and sports programs. The fat hangs heavy on that particular pig.
anachronism , says: Show Comment March 23, 2020 at 7:19 am GMT
@Kim I agree with you up to a point.

The student and the university should share responsibility equally. In the future, the institution should be made a co-signor on any student loan; and the obligation to repay the loan should be joint and several for both the institution and the student.

Bankruptcy provides the ex-student with the chance to start over and to escape the burden; but not without consequences. This will discourage the ex-student, who is doing well financially and has the means to service the debt, from just walking away.

[Mar 23, 2020] Looks like the virus further damage neoliberalism

Mar 23, 2020 | www.moonofalabama.org

snake , Mar 22 2020 19:39 utc | 60

The idea advanced on the last thread [by Vk and here @7 and 39 I think] that governments should be organized around something different than economics is sound and worthy of everyone's input, ideas and objections; discussion is needed and welcome.

International human to human discussion should take place. Human experience with nation state globalism has shown just how vulnerable humanity is to organized and institutionalized corruption; the actions of the leaders of individual nations have shown the nation state system cannot be trusted.

The Covid 19 pandemic has reminded us all that we as humans <= have a right to a government that is of our collective liking, we have learned that governments must serve the best interest of the most persons, not special interest of a few. Governments which fail to serve equal right, open access and equal chance to those it governs are prima facia legitimates. Covid 19 brought the meaning of the principle of self-determination to the forefront. Everyone's life is challenged by submicroscopic beast. It takes the cooperation of all of us, to save most of us, and it takes the corruption of a few, to ruin it all, for most of us.

Human rights come first, long before economics . No economic rationale can support the delay or justify the cost of failure for those entrusted with the power to act, should they fail to timely act with diligence on threat that human lives are in danger. Experience suggest it is not possible to leave the power, function, and direction of government to those whose responsibility it is to operate it <= something very different is needed.

Covid 19 was a wake up call , that makes real the unfulfilled and failed campaign promises in a never ending trail of campaigns. Its time for everyone to insist on truth, truth in media, truth in political campaigns, open book truth from those appointed to government, and to bring everyone's troops home. Its time for nation states to stop supporting the private oil and gas bandits, the MSM, or any other special interest, its time to make a single global currency that bears no interest and that does not require repayment of principal, its time for governments to stop arming belligerents, their own or those of anyone else (gun control should be transformed into between governments, weapons control and the persons of all humans everywhere should be equally armed), its time to stop one nation instigating or supporting regime change in another, and its time to deny government leaders from using the governments they lead, to enable private or corrupt profits. Every human has a right to life, liberty and to pursuit of happiness: <=governments were instituted to secure to mankind the enjoyment of the privilege of those rights; but it seems mankind has been lax in making these governments conform to their privilege of existence.

A $0 military budget, and no interest, no repay currency could bring the credit needed to create multi many places of employment, AWA fix ailing infra structures, improve access to, even make access globally universal. It could improve the quality of education and open to everyone<= fair play, access to capital (instead of venture capital expecting reward of profit, how about advances of capital in search of human progress). which could enable real progress on earth for mankind.

Its time to eliminate the dependency on, or even the existence of those monopolies nation states like to create out of thin air by using their power to invent by rule of law, powers that restrain true competition (license, privatized government ownership, special authority, patents, copyrights, and the private property ownership).

It time to stop over hyped , Wall Street multi global type greed which only exist because currency is used as control devise, instead of a facilitator. Nation states should facilitate humans to interact, in ways transparent to the nation state boundaries (Its economics, that encourages non sharing attitudes, that cause competitors to seek ways to use governments to restrain human inter action). Humans should try to replace foreign products with locally made goods and the foreign goods producers should be encouraged to make goods in places where the goods have a demand because demand produces jobs and provides opportunity, globalism organized to produce economic gains, often attempt to steal from locals the benefits of demand created by the locals. The local province rule should apply: that is if locals want to make it, multinationals should be denied. The billions saved to the global economy in unexpended energy consumption (no transport cost), could bring prices of goods and services to comparative advantage adjusted market price levels. I predict, the poor would prosper because they would have an opportunity to contribute to our global human society, and government would be re instituted to encourage and enforce equality for all to those it governs. Governments should restrain and deny wealth, but they should encourage and facilitate local competition. At one time people elected their representatives based on performance in accord to those ideals. Currency that carries no interest and that never needs to be repaid, challenges economic induced greed and redirects the efforts of mankind to providing that which is needed.

In 1949 the income tax in USA governed America was layered into tiers (where different tax rates were applied); the USA taxed those who made big bucks at 90% in its highest tier .. Seem to recall Briton had something similar [100% of everything over $150,000 pounds of taxable Income?]. From here => http://www.milefoot.com/math/businessmath/taxes/fit.htm <=i made a table
year rate@personal taxable income level
1941 81% @$5,000,000
1942-1943 88% @$200,000
1944-1945 94% @$200,000 The tax limited to a 90% effective rate.
1946-1947 91% @$200,000 The tax limited to a 90% effective rate (85.5% >credits).
1948-1951 91% @$400,000 The tax limited to a 77% effective rate in 1948-1949, .
1952-1953 92% @$400,000 The tax was limited to an 88% effective rate.

corporate rate from http://www.milefoot.com/math/businessmath/taxes/fit.htm I made a small table.
1942- 1945 40% > $50,000
1946- 1949 38% > $50,000
1950 42% > $25,000
1951 50.75% > $25,000
1952- 1963 52% > $25,000
1964 52% > $25,000
1965- 1967 48% > $25,000
1968- 1969 52.8% > $25,000

These numbers suggest a long winded story of useless corruption.

[Mar 23, 2020] If you'd ever tried to set up a business here in the UK, you'd realise pretty quickly that you are under complete and utter control of the government in every aspect

Mar 23, 2020 | www.moonofalabama.org

TJ , Mar 22 2020 20:57 utc | 74

@1 vk

If you'd ever tried to set up a business here in the UK, you'd realise pretty quickly that you are under complete and utter control of the government in every aspect and they own your business by dint of the taxes and the loans you have to take out from their banker friends, we have soft communism because the government owns you but pretends not to. Magna Carta is dead and it's only possible resuscitation would be a Runnymede 2 Electric Boogaloo.

[Mar 22, 2020] Mask piracy among neoliberal nations: Wonderful show of world-wide solidarity

Highly recommended!
Notable quotes:
"... 1) Pompeo and Grenell reportedly arguing that coronavirus has created window of opportunity for a direct strike on a weak and divided Iran. ..."
"... Deputy Health Minister Alireza Raisian has criticized the #UK for not delivering millions of masks #Iran bought in preparations ahead of #Covid19 outbreak. The London govt. refused to deliver them citing US sanctions! Note that Germany took supplies meant for Switzerland, The US via the Italian Mafia (I suppose) gets masks from Bergamo. etc. ..."
Mar 21, 2020 | www.moonofalabama.org

Stonebird , Mar 21 2020 21:25 utc | 31

I just think that the US "Intelligence" and most of the US Administration just haven't got it. I suppose when you are waiting for the "rapture" anything that can add to the chaos is to be included.

1) Pompeo and Grenell reportedly arguing that coronavirus has created window of opportunity for a direct strike on a weak and divided Iran. They were arguing about the severity of the strike.

2) Deputy Health Minister Alireza Raisian has criticized the #UK for not delivering millions of masks #Iran bought in preparations ahead of #Covid19 outbreak. The London govt. refused to deliver them citing US sanctions! Note that Germany took supplies meant for Switzerland, The US via the Italian Mafia (I suppose) gets masks from Bergamo. etc. Wonderful show of world-wide solidarity.

Pompeo should hold his "rapture" in his hot little hand and .....

[Mar 22, 2020] Opinion - A Tale of Two Foreign Policies The Train-Wreck Abroad Is Bipartisan by Philip Giraldi

Notable quotes:
"... It is widely believed that the abrupt withdrawal of candidates Amy Klobuchar and Pete Buttigieg on the eve of Super Tuesday that targeted Sanders was arranged through an intervention by ex-President Barack Obama who made a plea in support of "party unity," offering the two a significant quid pro quo down the road if they were willing to leave the race and throw their support to Biden, which they dutifully did ..."
"... Trump might be described as both paranoid and narcissistic, meaning that he sees himself as surrounded by enemies and that the enemies are out to get him personally. When he is criticized, he either ridicules the source or does something impulsive to deflect what is being said. He attacked Syria twice based on false claims about the use of chemical weapons when a consensus developed in the media and in congress that he was being "weak" in the Middle East. Those attacks were war crimes as Syria was not threatening the United States. ..."
"... Biden is on a different track in that he is an establishment hawk. As head of the Senate Foreign Affairs committee back in 2002-2003 he green lighted George W. Bush's plan to attack Iraq. Beyond that, he cheer-leaded the effort from the Democratic Party benches, helping to create a consensus both in Washington and in the media that Saddam Hussein was a threat that had to be dealt with. He should have known better as he was privy to intelligence that was suggesting that the Iraqis were no threat at all. He did not moderate his tune on Iraq until after 2005, when the expected slam-dunk quick victory got very messy. ..."
"... Biden was also certainly privy to the decision making by President Barack Obama, which include the destruction of Libya and the killing of American citizens by drone. Whether he actively supported those policies is unknown, but he has never been challenged on them. What is clear is that he did not object to them, another sign of his willingness to go along with the establishment, a tendency which will undoubtedly continue if he is elected president. ..."
Mar 22, 2020 | www.informationclearinghouse.info

Now that the Democratic Party has apparently succeeded in getting rid of the only two voices among its presidential candidates that actually deviated from the establishment consensus, it appears that Joe Biden will be running against Donald Trump in November. To be sure, Bernie Sanders and Tulsi Gabbard are still hanging on, but the fix was in and the Democratic National Committee (DNC) made sure that Sanders would be given the death blow on Super Tuesday while Gabbard would be blocked from participating in any of the late term debates.

It is widely believed that the abrupt withdrawal of candidates Amy Klobuchar and Pete Buttigieg on the eve of Super Tuesday that targeted Sanders was arranged through an intervention by ex-President Barack Obama who made a plea in support of "party unity," offering the two a significant quid pro quo down the road if they were willing to leave the race and throw their support to Biden, which they dutifully did. Rumor has it that Klobuchar might well wind up as Biden's vice president. An alternative tale is that it was a much more threatening "offer that couldn't be refused" coming from the Clintons.

... ... ...

Both Trump and Biden might reasonably described as Zionists, Trump by virtue of the made-in-Israel foreign policy positions he has delivered on since his election, and Biden by word and deed during his entire time in politics. When Biden encountered Sarah Palin in 2008 in the vice-presidential debate, he and Palin sought to outdo each other in enthusing over how much they love the Jewish state. Biden has said that "I am a Zionist. You don't have to be a Jew to be a Zionist" and also, ridiculously, "Were there not an Israel, the U.S. would have to invent one. We will never abandon Israel -- out of our own self-interest. [It] is the best $3 billion investment we make." Biden has been a regular feature speaker at the annual AIPAC summit in Washington.

Trump might be described as both paranoid and narcissistic, meaning that he sees himself as surrounded by enemies and that the enemies are out to get him personally. When he is criticized, he either ridicules the source or does something impulsive to deflect what is being said. He attacked Syria twice based on false claims about the use of chemical weapons when a consensus developed in the media and in congress that he was being "weak" in the Middle East. Those attacks were war crimes as Syria was not threatening the United States.

Trump similarly reversed himself on withdrawing from Syria when he ran into criticism of the move and his plan to extricate the United States from Afghanistan, if it develops at all, could easily be subjected to similar revision. Trump is not really the man who as a candidate indicated that he was seriously looking for a way out of America's endless and pointless wars, no matter what his supporters continue to assert.

Biden is on a different track in that he is an establishment hawk. As head of the Senate Foreign Affairs committee back in 2002-2003 he green lighted George W. Bush's plan to attack Iraq. Beyond that, he cheer-leaded the effort from the Democratic Party benches, helping to create a consensus both in Washington and in the media that Saddam Hussein was a threat that had to be dealt with. He should have known better as he was privy to intelligence that was suggesting that the Iraqis were no threat at all. He did not moderate his tune on Iraq until after 2005, when the expected slam-dunk quick victory got very messy.

Biden was also certainly privy to the decision making by President Barack Obama, which include the destruction of Libya and the killing of American citizens by drone. Whether he actively supported those policies is unknown, but he has never been challenged on them. What is clear is that he did not object to them, another sign of his willingness to go along with the establishment, a tendency which will undoubtedly continue if he is elected president.

And Biden's foreign policy reminiscences are is subject to what appear to be memory losses or inability to articulate, illustrated by a whole series of faux pas during the campaign. He has a number of times told a tale of his heroism in Afghanistan that is complete fiction , similar to Hillary Clinton's lying claims of courage under fire in Bosnia.

So, we have a president in place who takes foreign policy personally in that his first thoughts are "how does it make me look?" and a prospective challenger who appears to be suffering from initial stages of dementia and who has always been relied upon to support the establishment line, whatever it might be. Though Trump is the more dangerous of the two as he is both unpredictable and irrational, the likelihood is that Biden will be guided by the Clintons and Obamas. To put it another way, no matter who is president the likelihood that the United States will change direction to get away from its interventionism and bullying on a global scale is virtually nonexistent. At least until the money runs out. Or to express it as a friend of mine does, "No matter who is elected we Americans wind up getting John McCain." Goodnight America!

Philip Giraldi Ph.D., Executive Director of the Council for the National Interest. A former CIA Case Officer and Army Intelligence Officer who spent twenty years overseas in Europe and the Middle East working terrorism cases. He holds a BA with honors from the University of Chicago and an MA and PhD in Modern History from the University of London. " Source "

[Mar 22, 2020] Opinion - Neoliberalism's Death Knell

Mar 22, 2020 | www.informationclearinghouse.info

In the latest It's Our Money podcast , PBI Chair Ellen Brown and co-host Walt McRee speak with renowned economist Michael Hudson, member of the Public Banking Institute Advisory Board. Walt introduces the episode:

The global economic devastation produced by market-driven profiteering has resulted in distressed and deprived citizens taking to the streets by the hundreds of thousands in cities around the globe and continues its destructive exploitation of our planet's resources. The culprit is an aging "neo-liberal" economic system which produces historic social inequality while consolidating power in the hands of a few. Our guest, renowned economist Michael Hudson, says this system is more neo-feudal than neo-liberal – and that its inherent excesses are on the verge of bringing it down . Ellen reports that one example of its demise may be in Mexico where its new president is creating new public banks to help address some of its neo-liberal market inequities. - [ Listen to the podcast ]

Michael Hudson: [00:00:00] There's recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans.
The economy's low-income brackets have not been helped by today's financial system. Here in New York City, red lining and a visceral class hatred by high finance toward the poor characterized the major banks. From the very top to the bottom, they were very clear they were not going to lend to places with racial minorities like the Lower East Side. The Chase Manhattan Bank told me that the reason was explicitly ethnic, and they didn't want to deal with poor people.

A lot of people in these neighborhoods used to have savings banks. There were 135 mutual savings banks in New York City with names like the Bowery Savings Banks, the Dime Savings Bank, the Immigrant Savings Bank. As their names show, they were specifically to serve the low-income neighborhoods. But in the 1980s the commercial banks convinced the mutual savings banks to let themselves be raided. Their capital reserves of the savings banks, was just looted by Wall Street. The depositors' equity was stripped away (leaving their deposits, to be sure). Sheila Bair, former head of the FDIC, told me that the commercial banks' cover story was that they were large enough to provide more capital reserves to lend for low-income neighborhoods. The reality was that instead, they simply extracted revenue from these neighborhoods. Large parts of the largest cities in America, from Chicago and New York to others, are underbanked because of the transformation of commercial banks from providers of mortgages to emptiers-out, just revenue collectors. That leaves the main recourse in these neighborhoods to pay-day lenders at usurious interest rates. These lenders have become major new customers for Wall Street bankers, not the poor who have no comparable access to credit.

Apart from the savings banks, of course, you had the post office banks. When I went to work on Wall Street in the 1960s, 3 percent of U.S. savings were in the form of post office savings. The advantage, of course, is that post offices were in every neighborhood. So you actually had either a local community banking like savings banks – not like today's community banks, which are commercial banks, lending largely to real estate speculators to capitalize rental apartments into heavily mortgaged co-ops with much higher financial carrying charges – or you had post offices. You now have a deprivation of basic bank services in much of the economy, combined with an increasingly dysfunctional and predatory commercial banking system.

The question is, what's going to happen next time there's a bank crash? Sheila Bair wrote about after the 2008 crash that the most corrupt bank was Citibank – not only corrupt, but incompetent. She had wanted to take it over. But Obama and his Secretary of the Treasury, Tim Geithner, acted as lobbyists for Citibank from the beginning, protecting it from being taken over. But imagine what would have happened if Citibank would have been become a public bank – or other banks that are about to have negative equity if there is a downturn in the stock and bond and real estate market. Imagine what will happen if they were turned into public banks. They would be able to provide the kind of credit that the commercial banking system has refused to provide – credit to blacks, Hispanics and poor people that have just been red-lined in what is becoming a financially polarized dual economy, one for the wealthy and one for everyone else.

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Walt McRee: [00:04:10] Well, power in that realm, of course, lies with the banking cartel. They look at public banks as a threat. They hate competition of any sort, it seems.

Michael Hudson: [00:04:18] Of course it is a threat.

Walt McRee: [00:04:22] And even when we say, Michael, that we're not going after the business you're already doing because you aren't lending to small, medium enterprises and so forth – we want to take on the infrastructure that you don't want to fund, but they still are pushing back. How will we be able to get past that?

Michael Hudson: [00:04:40] I think you should say that of course you're not going to take business away from them, because the public community bank or government-owned bank would not make corporate takeover loans or speculative derivative bets. It would not create the dysfunctional credit and debt overhead that has been expanding ever since 1999 when the Clinton administration changed the banking rules.
The problem is that the big commercial banks don't want the productive kind of loans that public banking would make. For instance, the reason they didn't want to extend credit to the Lower East Side or the Hudson Yards west side of New York was they wanted to sort of drive out their residents and gentrify it, by providing the money to the big developers who socially bulldoze these neighborhoods. Their policy is to kick out as many low-income renters or owners as they can, and replace them by raising rents from like $50 a month to $5,000 a month. That's what's happened on the Lower East Side from the time I first lived there to what rents are today.
There is a fight of the economy's unproductive sector against people who want to use credit in a productive way that actually helps the economy. I think it's a fight between good and evil, at least between the productive and unproductive economy, between economics for the people and economics for the One Percent.

Ellen Brown: [00:06:14] I wonder, though, if the Fed is going to even allow the banks to collapse again, with what they just did with the repo market. They can step in at any time to save anybody. I don't know that Congress, even has a say in it. What do you think?

Michael Hudson: [00:06:30] I think that's right. I've talked to Paul Craig Roberts and we discuss whether they can just keep on keeping these zombie banks alive. Can they keep the over-indebted zombie economy alive by the Federal Reserve manipulating the forward stock and bond markets to support prices? It doesn't actually have to buy stocks and bonds beyond the $4 trillion it's already put into Quantitative Easing. It can simply make manipulate the forward market. That doesn't really cost any money until the big crash comes. So I think one should have a discussion over what President Trump says is a boom that that he's created, with the stock market going up. Does that mean that the economy is getting richer? Are we fine with commercial banking the way it is, so that we don't need public banking?

I think you have to expose the fact that what's happened is artificial state intervention. What we have in the name of free market support of the banks is not a free market at all. It's a highly centralized market to support the predatory financial sector's wealth against the rest of the economy. The financial sector's wealth takes the form of credit to the rest of the economy, extracting interest and amortization, while making loans simply to increase asset prices for real estate and financial securities, not put new means of production in place to employ labor. So you have to go beyond the public banking issue as such, and look at the political context. Ultimately, the way that you defend public banking is to show how the economy works and how public banking could play a positive role in the economy as it should work.

Ellen Brown: [00:08:14] Can you explain what you meant by forward lending? I mean, they don't have to

Michael Hudson: [00:08:19] It's not forward lending, it's buying long. For the stock market's Dow Jones average, they'll contract to buy all its stocks or those in the S&P 500 in one month, or one week or whatever the timeframe is, for X amount – say, 2% over what they're selling today. Well, once the plunge protection team issues a guarantee to buy, the market is going to raise the bid prices for these stocks up to what the Fed and the Treasury have promised to pay for them. By the time the prices go up, the Fed doesn't actually have to buy these stocks, because everybody's anticipated that the Fed would buy them at this 2 percent gain. So it's a self-fulfilling prophecy. We're dealing with a government run by the banks and the creditor powers to artificially raise asset prices, on credit. This has kept alive a system that represents itself as creating prosperity. But it's not creating prosperity for the 99 Percent. Public banking would aim at prosperity for the 99 Percent, not just for the One Percent.

Ellen Brown: [00:09:46] I'm writing about Mexico's AMLO, who is now who has just announced in January that he will be building 2,700 branches of a public bank in the next two years. He's expecting 13,000 branches ultimately, so it will be the largest bank in the country. His reasoning is just what you're saying, that the banks have failed and have not serviced the poor. His mandate is to help the poor, and he can't do that if they don't have banking services.

Michael Hudson: [00:10:17] Is that national?

Ellen Brown: [00:10:18] Yes, all across the country.

Walt McRee: [00:10:22] "Loprabrador", AMLO. So we know that a public monetary source is a public utility. Our vision is to create a network of local and state public banks. That leads us to the view that what we really need to be targeting is the Federal Reserve, to ultimately turn it into a publicly-owned entity. Is that folly or

Michael Hudson: [00:10:55] I think the way to get people to support this is if they understand how the Federal Reserve was created. A few years ago I published an article in an Indian economic journal (I think it's on my website), about how the Federal Reserve was created. There was a fight by Wall Street led by J.P. Morgan. America had a central bank until 1913 – the Treasury. Until 1913 the Treasury was doing everything that the Federal Reserve began to do. The idea of creating the Federal Reserve was to take power away from the Treasury. The Treasury wasn't even allowed to be on the board as an owner of Federal Reserve stock. The idea was to take decision-making away from Washington, away from democratic politics, and insulate the financial system from the democratic political system by turning control over to the corporate financial centers -- Wall Street, Chicago, and the other Federal Reserve districts. They were the same districts as those that the Treasury already had divided the country into. Remember, these were the decades leading up to World War I when there was a social democratic revolution from Europe to the United States. A guiding idea was to democratize banking.

Wall Street very quickly developed a counter strategy to this. And the counter strategy was the Federal Reserve. You're welcome to republish my article on your site. You and I both aim to reverse the counterrevolution mounted against classical economics and social democracy. The entity you're talking about would probably be under the aegis of the Treasury. You'd be putting the economy back in the direction that the world was moving before World War I derailed these efforts.

You talk of nationalizing the Fed. I know people don't like the word nationalizing. How about thing de-privatizing or de-Thatcherizing the Fed? You have to represent the Fed as having stolen economic and financial policy away from the public domain. It became part of the neoliberal project taking form in Austria in the 1930s. You're trying to restore the classical economic vision of productive versus unproductive credit, productive versus unproductive labor, and public money as opposed to private money. These distinctions were erased by the censorial neoliberal counter-revolution.
It's not that you're radical, that these people had a radical revolution to carve away the financial system from democracy. And you're restoring the classical vision of democratizing, re-democratizing finance and banking.

Walt McRee: [00:14:12] I want to thank you for saying that, Michael, because de-privatizing the Federal Reserve is so much more accurate and powerful. You'll recall that we kind of exchanged a phrase when I said "institutionalized deception.". I think that's really important. But let's say that prior to that, Stephanie Kelton gets in there, or somebody from the MMT crowd gets into a new administration prior to de-privatizing the Fed. Does MMT have a place to play or to emerge in that environment?

Michael Hudson: [00:14:55] Of course, and here's the role: You can leave the commercial banks to do what they're doing, but you're not going to provide Federal Reserve credit for them to load down the economy with unproductive debt. The question is, if you're going to create real community banking via a public banking sector, where will it get the money to lend out? How do we provide money to the red-lined areas of the economy to actually finance tangible capital investment and people's living needs, not just predatory lending? The way that MMT comes in is much like the Chicago plan for one hundred percent reserves. These community banks will need Treasury-created depository credit beyond the deposits they raise in their local areas.

They need more money. MMT will provide credit to these banks in exchange for their loan originations of a productive character, on terms that borrowers can afford, with realistic mortgages also to build public housing. The new Fed that we're talking about will be a major depositor and will provider of the capital deposits and reserves to the banks. Right now, it has provided $4 trillion of Quantitative Easing credit to the banks, not to put into the economy but only to inflate the stock and bond market and make housing more expensive. Wouldn't it be much better to provide credit to community banks that actually would make credit available for productive economic purposes – and not for takeover loans, stock buybacks and asset speculation?

Productive credit was what everybody expected banking to develop in the late 19th century. Germany and Central Europe were leading the way. It was called Middle Europa banking, as opposed to Anglo-American banking. (I discuss this contrast in Killing the Host.) That was essentially following the classical model, as everybody expected banking to evolve prior to World War I.

Ellen Brown: [00:17:29] Cool. That's totally what I also wrote about in my latest book. The Federal Reserve is where you should be getting credit, so you don't have to borrow it from somewhere else. Everybody thinks this whole repo thing is so contrived. It's re-hypothecated. One party owns the collateral at night, the other party owns it during the day. It's all just bluff to make it look like they borrowed something that wasn't really there. So let's just acknowledge that all money is just credit. And like you say, if you have a good loan, a good project to be monetized, that's the whole point of a bank. It will turn your future productivity into something you can spend in the marketplace. And the central bank is there to provide the credit.

Michael Hudson: [00:18:21] That's right.

Ellen Brown: [00:18:22] Turn it into dollars.

Michael Hudson: [00:18:24] That's right. My way of describing it is to look at history, to show that this is not a utopian idea. It is what made German and Central European banking so much more productive in the decades leading up to World War I. So we actually have historical examples of good banking versus bad banking. But the predators won in the end.

Ellen Brown: [00:18:53] Well, regarding this whole repo thing, one big problem we have with our public banks is the 110 percent collateralization requirement in California. How is a bank supposed to make loans if it has to use its deposits to buy securities – something safe and yielding low interest to back the deposits? It seems to me that what the big banks do – and I think we could do it, too – is to take those deposits and buy federal securities at 1.5 percent, and then they turn around and use the securities as collateral in the repo market, where they pay 1.5 percent. In other words, they earn 1.5 percent and they pay 1.5 percent. So it's a wash. They get their money for free. I think we could do that, too. Or are only certain players allowed to play that game, and we can't jump in?

Michael Hudson: [00:19:50] Well, you're the lawyer. Of course they could do it. I think one of the things that you and other progressives have recommended is that the Fed should stop paying money to the banks for their reserve deposits. Stop giving them the free giveaway. If you want to say, "We're against the largest welfare recipients in the country. They're not the people you think. They're the Wall Street banks. These hypocrites want to cut back Social Security to balance the budget. They want to cut back medical care and social services, and make themselves the only welfare recipients."

Ellen Brown: [00:20:30] Right, agreed. But if we just stand on our high horse and say this has to change, nothing will happen. We could do it ourselves and just show what you're doing in contrast to what they're doing

Michael Hudson: [00:20:44] You're asking for symmetry. They're making us carry a big load on our back, that they don't have to carry. They're loading the dice in their own favor. You want to unload the dice and stop the insider favoritism. You correctly represent the banks as being insiders. You have to say, "Look, these insiders are trying to keep a monopoly." You could use the anti-monopoly legislation that's been on the books since Teddy Roosevelt's time. You have a lot of legal power to break up the big banks. You could treat them like I think they could treat the pharmaceutical companies if Bernie gets in.

Walt McRee: [00:21:44] Monopolies are being challenged by the shadow banking industry. New forms of payment exchange technologies seem to be eating away at that singular source of credit. What's your prognosis for how that's going to evolve? Will the big banks find a way to clamp down on that ultimately?

Michael Hudson: [00:22:05] Are we talking about cryptocurrency?

Walt McRee: [00:22:07] That would be one example, yes.

Michael Hudson: [00:22:10] Well,. you can't stop people from gambling. People think that buying a cryptocurrency is like buying an Andy Warhol etching. Maybe it'll go up in price if a large number of people want it. But basically, it's junk. It's very speculative. It's certainly not stable. It goes up and down. One day there may be a solar flare that's going to wipe out all the bank records for these things. But there is no way to stop people from doing something that seems to be silly or gambling. You certainly will not insure them. So you will not give them any protection against loss. You also will want to insulate the economy from having any transactions in crypto, in these alternative money things that pose a big threat of loss. They are not real money, because the government will not accept payment of cryptocurrencies as taxes or for public goods and services. The government will only accept specified forms of money. You can create any kind of swap or bet. If you want to create the equivalent of a racetrack on horses. You can do it, but that's a financial racetrack. I think there may be taxes on racetracks. They were unregulated for a long time. But Hollywood movies showed that there's a lot of criminalization going on there.

Walt McRee: [00:23:59] We were all amused, well, maybe a little wondering about Max Kaiser. Ellen and I and Tyson Slokum had some time with him over there just before you were at his Brooklyn studio, but Max is into Bitcoin in a big way, and he sees it as the new gold.

Michael Hudson: [00:24:20] He told me that a lot of people watch his show because they're gold bugs or they are interested in Bitcoin. I think he's tried to take a neutral view of it, certainly in our personal conversations. He's not a gold bug and he's not a Bitcoin or other bug. But he said that a lot of people want to find out about it, so he has guests on his show telling people, "Here it is, take your choice." It's part of the new speculative financial landscape, just like swamps are part of landscape for Florida real estate. So he's going to cover the whole spectrum. Reuters produces his shows, and the audience wants to hear about this. So he talks about what they want to hear.

Ellen Brown: [00:25:20] I think he actually does promote Bitcoin. He's heavily invested in it and he was one of the originals, so he's obviously made a lot of money on it.

Michael Hudson: [00:25:29] Okay.

Ellen Brown: [00:25:29] I think he agrees that it can't be a national currency. It's too slow, too expensive, and too environmentally unfriendly. But like you say, it has been a good investment, just like fine art or something that, if people want it, the value goes up. Plus, there's a big black market for it, for trading and things that you don't want the government to know about.

Michael Hudson: [00:25:57] It's a real phenomenon. I know people who benefited from Andy Warhol. So he saw the phenomenon and he seems to have made money, but when Steve Keen and I and others got together with him for a couple of days two months ago, the topic never came up in discussion.
But gold did. I wonder where the gold of Libya went, for instance. Apparently it was all taken and I understand the US gave it to ISIS. Hillary said it had to go to ISIS to act as our Foreign Legion. We gave them Libya's weapons. Some of the gold must have just been taken by the CIA and State Department for dirty tricks for its black operations. Certainly, America wants to prevent any other country or large gold possessor from having enough gold to try to reinstate it as a means of settling balance-of-payments deficits. America runs a large military deficit, so at a certain point, the more money it spends abroad for its 800 military bases, the more gold it would lose. Just like in General de Gaulle's time during the Vietnam War, although actually Germany was taking more gold than France. So America wants to keep the dollar at the center of the world financial system. That really was why it went to war with Libya, because Libya was one of the first countries to de-dollarize and move its currency toward gold. So you're having a group of countries – Russia, China, Iran and others – add gold to their reserves instead of dollars. You're having a de-dollarization move throughout the world to break free from the US ability to do what it did do Iran.

When Iran borrowed in dollars under the Shah, it used Chase Manhattan Bank as its paying agent. It put enough money into the account to pay its foreign debts service. But then the State Department told Chase to screw Iran and refuse to turn over the payment. Now that the Shah wasn't running Iran, once Chase refused to turn over the payment and froze Iran's account, that meant that Iran went into default on the entire dollarized foreign debt. It was liable for a huge amount of capital.
That was a warning for the rest of the world that no government could safely put its money in an American bank or an American bank branch, or in a British branch that would act as a subsidiary of the Pentagon. Because if you do, the bank can simply force you into default at any time, just like the US CIA can come in and use electronic weaponry to destroy your bank payment-clearing system. That's why the threat of cutting Russia and China and other countries off from the Swift Interbank Clearing System led Russia to develop its own clearing system. With a flick of a switch it can begin to work anytime United States tries to cut Russia off from the SWIFT payments system. So you're having the whole world de-dollarize very quickly. And right now the question is what Europe will choose. Are Germany and other countries going to become part of the de-dollarized system, or remain part of the dollar area?

This is part of the fight against using the IT chips and the communications chips from Huawei. Huawei did not put US spyware into the system. The United States says that if it can't have a phone system and communications system that it can control by spyware and use to blow up your economy, your public utilities, your electrical systems, then you're our enemy, because we feel insecure without this control. When President Trump said that Huawei was a threat to US national security, he meant that we don't feel secure unless we have the power to destroy any economy that acts in any way that is independent of the United States – because you might do something we don't like. This is the most aggressive concept of security that one could imagine. So of course the rest of the world is seeing its own national security as having a financial dimension. The financial dimension is to create a monetary and financial system that minimizes connections to the dollar except to the extent of having to buy and sell dollars to stabilize foreign exchange rate.

Ellen Brown: [00:31:31] There's a lot of talk, even among central bankers, that we need to get off the dollar as a global reserve currency. But it seems to me that gold is also manipulatable. I mean, it's not the ideal I had envisioned a system where instead of reserves being a thing, like dollars or gold that you can actually trade, it would just be a measure, like a yardstick. You would be able to compare one currency to another according to what you could buy with it. Like you'd have a whole basket of things that everybody uses in every country. And now that they report that kind of stuff, it wouldn't be all that hard to get the figures and, you know, just compare and say, well, your dollar will be worth so many pesos in Mexico or whatever. That was my idea, but what do you think?

Michael Hudson: [00:32:27] That would meet one of the criteria of money, which is as a measure of value, but it would not do at all for international money. You have to have some means of constraint. In other words, suppose the United States continued to run another military budget deficit like it did in the Vietnam War. There is no way that you could use the balance of payments as a constraint on the policy of deficit countries, which are usually the military aggressors. The whole idea of going off gold was that under the gold standard no country can afford to make war, because if you go to war your currency collapses. In 1976, Herman Kahn and I went to the Treasury and – this is to answer your question. He put up a map of the world and said, "These are the countries – Scandinavia, Western Europe, the United States – that don't believe in gold. They're all politically stable social democratic countries. They have faith in government. No look at these others here's the rest of the world – India, South America, Africa and most of Asia. these are people that believe in gold. Why do they believe in gold, but not the Protestant cultural area? Well, they don't have faith in government. They don't trust governments. They want some option that is independent of government. Gold is not only to bribe the border guards if they're escaping from somewhere. They want to be free of governments that have been captured by anti-democratic, predatory forces."

He said if you tried to think of what you would make that is an alternative to the dollar that people could understand, well, for thousands of years, people have decided that gold and silver. (I'm sure that you could add platinum and palladium.) So they have been the ultimate means of settlement, and hence of international monetary constraint.

Gold isn't to be used as money. It's not to be used as a normal means of payment. What it is to be used for is as a balance-of-payments constraint on the ability of countries to run up chronic deficits that are mainly military in character. So I called our presentation "Gold: the Peaceful Metal." Well, needless to say, the Treasury didn't go for that, because they said that we had just explained how super-imperialism works via the dollar. So they didn't go back to gold. We lost that argument.

Ellen Brown: [00:35:34] Isn't the reason we went off gold standard, though, that there simply isn't enough gold and that we wound up leveraging it, and

Michael Hudson: [00:35:42] No, there's plenty of gold. There wasn't enough gold to pay for the military deficit. Every month the dollars we spent in Vietnam would be turned over to the banks in Indo-China. They were French. They'd turn the dollars over to Paris and General de Gaulle would turn in these dollars for gold. We had to pay in gold for the military deficit, which was the entire source of the US balance-of-payments deficits in the 50s, 60s and into the 70s. America went off gold so that it could afford to wage war without the constraint of losing its control over the international monetary system.

Ellen Brown: [00:36:29] We went after gold domestically because it didn't work. I mean, you had to use fractional reserve lending

Michael Hudson: [00:36:35] Yes, of course gold doesn't work domestically. It's certainly not an appropriate domestic money supply. I'm only talking about it for settlements among central banks internationally.
Ellen Brown: [00:36:49] But you said it's not to be traded. But if you don't, how do you settle your balance of payments?

Michael Hudson: [00:36:53] It can be traded. There is a market. And you began by saying, quite correctly, that gold prices are manipulated. Well, right now the US and the central banks are manipulating its price to keep it low, in the same way that they're manipulating the stock and bond market by buying forward. Except in the case of gold, they're selling forward. If they keep agreeing to sell gold at a very low price, people will see that if they can buy gold at this low price, why should they buy it at a higher price today, as the price will fall and be driven down. So, yes, gold is manipulated downwards today by the U.S. – essentially the plunge protection team acting internationally to keep the price of gold down to discourage other countries and populations from buying it is protection against collapse of the financial system.

So we're back to the fact that the financial system is dysfunctional. In a functional financial system, you wouldn't need domestic reference to gold. You'd have a domestic financial system that works fine without gold. Gold is what you have when the financial system becomes dysfunctional and there's a breakdown.

Ellen Brown: [00:38:21] Well, it almost seems like you need some sort of global regulator. But that's like a one-world government, which we all freak out about.

Michael Hudson: [00:38:28] You certainly don't want a one world government. Right now all the plans for world government are neoliberal. They aim essentially to limit, to break up democratic government regulation of corporate business, mining and monopolies. The idea of a one-world government is to destroy any democratic government's ability to make its own laws in the interests of labor or society. You would have a parallel government of wealth, government of property. It's what the University of Chicago calls the Law and Economics regime. And this is, this is fascism on an international scale. And there is a wonderful book by Quinn Slobodian in 2008, Globalists: The End of Empire and the Birth of Nationalism, showing how these plans were developed by fascists in the 1930s and by the fascist promoters at the University of Chicago. The fascist promoters were people like Hayek and von Mises and the Geneva economists around the League of Nations. So when they say they're anti-government, they're really anti-democracy. They're for an iron-fisted government by big business, big mining and big oil – and most of all, by big banks. That is the reason why people don't trust an international government. It would be an international iron fist of fascism, the way the current maneuvering of the financial classes and the rentier classes and the neocons have arranged things.

Ellen Brown: [00:39:56] Well, I totally agree. It's quite frightening. We want sovereignty for all our little nations, and even our little cities, states and so forth. But it seems to me, how do you get everybody to work together? For example, Venezuela has the debt problem that any country has that's heavily in debt to foreigners, or to vulture funds or whatever. There's not a universally recognized court that you can go to. And, you know, everybody agrees. It does seem like on some level we need some sort of collaborative effort where we all agree on the rules.

Michael Hudson: [00:40:33] Absolutely right. Now, of course, the United States would not recognize any international court. So, again, you'd have all the rest of the world belonging to the court, and the United States as the outlier. It's like you're the healthy body and we want to parasitize you. And it will not recognize the court. My Super-Imperialism reviews the history of this policy.
But you're right: There should be a court that would recognize such things as odious debt for governments. Venezuela's problem is that under the dictators that the Americans had installed by assassination and force, Venezuela had pledged its oil reserves as collateral for its international bonds. That gives a vested interest in the creditors to make it default and grab its oil reserves and its investments in the United States, the oil distributors it bought. So, yes, you do need a set of international rules for writing down bad debts. That means an alternative to the IMF. You need an anti-IMF. Instead of acting on behalf of the creditors imposing austerity on countries, you should create an organization representing society. And s the interest of society is to grow. Instead of promoting austerity like the IMF does, it would promote prosperity. Instead of financing the US government dollarization and giving US control, it would be part of the de-dollarization group.
So you'd have a pro-growth group of nations – of the world economy – using finance for growth and development with productive credit. You'd also have the United States providing predatory credit, austerity, cutting back Social Security, cutting back Medicare and having a polarizing economy that is shrinking and will end up looking like Greece or Argentina. The rest of the world would follow more productive and less oligarchic financial policies. That should ultimately be our global dream. But there's been little preparation for that. The financial sector's neoliberals have o put together an almost conspiratorial Law and Economics lobbying group to promote the Trans-Pacific Partnership and World Trade Organization rules blocking governments from imposing anti-pollution fines or regulating monopolies or closing tax havens. If you fine an oil company for polluting, the government is obliged under this international law to pay the oil companies what they would have earned if they would have continued to poison the environment. This is

Ellen Brown: [00:43:41] Shocking.

Michael Hudson: [00:43:41] Definitely. This is an international deathwish.

Ellen Brown: [00:43:45] Agreed. Totally agreed.

Walt McRee: [00:43:47] We've been speaking with economist Michael Hudson. Our thanks to him for being on this program again. And you'll be hearing more from Michael on future editions of It's Our Money.

Walt McRee: [00:43:59] Well, that's it for this edition of It's Our Money with Ellen Brown. Thanks to our guests or sponsors, Public Banking Associates, and to you for listening. Be sure to check out Ellen's latest writings on the economy and the changing world of money by visiting ellenbrown.com. And for more information on public banking, visit PublicBankingInstitute.org. For information on how local and state governments can obtain professional insight and council about public banks from key national experts, visit PublicBankingAssociates.com. I'm Walt McRee. See you next time on It's our Money with Ellen Brown.

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others.

[Mar 21, 2020] Tulsi Gabbard says insider traders should be 'investigated prosecuted,' as Left and Right team up on profiteering senator

Highly recommended!
Notable quotes:
"... "better prepared than ever ..."
"... "akin to the 1918 pandemic." ..."
"... "Congress/staff who dumped stocks after private briefings on impending coronavirus epidemic should be investigated and prosecuted for insider trading," ..."
"... "Members of Congress should not be allowed to own stocks." ..."
"... "stomach churning," ..."
"... "For a public servant it's pretty hard to imagine many things more immoral than doing this," ..."
"... "Richard Burr had critical information that might have helped the people he is sworn to protect. But he hid that information and helped only himself." ..."
"... "If you find out about a nation-threatening pandemic and your first move is to adjust your stock portfolio you should probably not be in a job that serves the public interest," ..."
"... "calling for immediate investigations" ..."
"... "for possible violations of the STOCK Act and insider trading laws." ..."
"... Think your friends would be interested? Share this story! ..."
Mar 21, 2020 | www.rt.com

In a rare moment of bipartisanship, commenters from all sides have demanded swift punishment for US senators who dumped stock after classified Covid-19 briefings. Hawaii Rep. Tulsi Gabbard has called for criminal prosecution. As chairman of the Senate Intelligence Committee, Richard Burr (R-North Carolina) has received daily briefings on the threat posed by Covid-19 since January. Burr insisted to the public that America was ready to handle the virus, but sold up to $1.5 million in stocks on February 13, less than a week before the stock market nosedived, according to Senate filings . Immediately before the sale, Burr wrote an op-ed assuring Americans that their government is "better prepared than ever " to handle the virus.

Also on rt.com Liberal icon Sean Penn wants a 'compassionate' army deployment to fight Covid-19

After the sale, NPR reported that he told a closed-door meeting of North Carolina business leaders that the virus actually posed a threat "akin to the 1918 pandemic." Burr does not dispute the NPR report.

In a tweet on Saturday, former 2020 presidential candidate and Hawaii Rep. Tulsi Gabbard called for criminal investigations. "Congress/staff who dumped stocks after private briefings on impending coronavirus epidemic should be investigated and prosecuted for insider trading," she wrote.

"Members of Congress should not be allowed to own stocks."

Congress/staff who dumped stocks after private briefings on impending coronavirus epidemic should be investigated & prosecuted for insider trading (the STOCK Act). It is illegal & abuse of power. Members of Congress should not be allowed to own stocks. https://t.co/rbVfJxrk3r

-- Tulsi Gabbard 🌺 (@TulsiGabbard) March 21, 2020

Burr was not the only lawmaker on Capitol Hill to take precautions, it was reported. Fellow Intelligence Committee member Dianne Feinstein (D-California) and her husband sold off more than a million dollars of shares in a biotech company five days later, while Oklahoma's Jim Inhofe (R) made a smaller sale around the same time. Both say their sales were routine.

Sen. Kelly Loeffler (R-Georgia) attended a Senate Health Committee briefing on the outbreak on January 24. The very same day, she began offloading stock, dropping between $1.2 and $3.1 million in shares over the following weeks. The companies whose stock she sold included airlines, retail outlets, and Chinese tech firm Tencent.

She did, however, invest in cloud technology company Oracle, and Citrix, a teleworking company whose value has increased by nearly a third last week, as social distancing measures forced more and more Americans to work from home. All of Loeffler's transactions were made with her husband, Jeff Sprecher, CEO of the New York Stock Exchange.

Meanwhile, Alexandria Ocasio-Cortez (New York) and Ilhan Omar (Minnesota) have joined the clamor of voices demanding punishment. Ocasio-Cortez described the sales as "stomach churning," while Omar reached across the aisle to side with Fox News' Tucker Carlson in calling for Burr's resignation.

I am 💯 with him on this 😱 https://t.co/Gbi3i2BagY

-- Ilhan Omar (@IlhanMN) March 20, 2020

"For a public servant it's pretty hard to imagine many things more immoral than doing this," Carlson said during a Friday night monolog. "Richard Burr had critical information that might have helped the people he is sworn to protect. But he hid that information and helped only himself."

As of Saturday, there are nearly 25,000 cases of Covid-19 in the US, with the death toll heading towards 300. Now both sides of the political aisle seem united in disgust at the apparent profiteering of Burr, Loeffler, and Feinstein.

Right-wing news outlet Breitbart savaged Burr for voting against the STOCK Act in 2012, a piece of legislation that would have barred members of Congress from using non-public information to profit on the stock market. At the same time, a host of Democratic figures - including former presidential candidates Andrew Yang and Kirsten Gillibrand - weighed in with their own criticism too.

"If you find out about a nation-threatening pandemic and your first move is to adjust your stock portfolio you should probably not be in a job that serves the public interest," Yang tweeted on Friday.

If you find out about a nation-threatening pandemic and your first move is to adjust your stock portfolio you should probably not be in a job that serves the public interest.

-- Andrew Yang🧢 (@AndrewYang) March 20, 2020

Watchdog group Common Cause has filed complaints with the Justice Department, the Securities and Exchange Commission and the Senate Ethics Committee "calling for immediate investigations" of Burr, Loeffler, Feinstein and Inhofe "for possible violations of the STOCK Act and insider trading laws."

Think your friends would be interested? Share this story!

[Mar 21, 2020] Tucker Senator Burr sold shares after virus briefing

Highly recommended!
Mar 21, 2020 | www.youtube.com

Bowhead31 , 5 hours ago

The problem is these people no longer see themselves as public servants.

Maria Summers , 6 hours ago

The Georgia Senator is just as guilty as the rest of them, regarding "Insider Trading".

shane passey , 3 hours ago

She's a crook just like the rest of the politicians. They say they be there for the people. But they're really there to make themselves rich

[Mar 21, 2020] Don't forget our congress critter Senator Kelly Loeffler

Mar 21, 2020 | caucus99percent.com

@supenau

who make profits as well. I cannot remember exactly when insider trading for them became legal but it should be no surprise to anyone paying the slightest bit of attention that they're ALL doing it. That is one reason, at least in my semi-educated opinion, they did not go after Trump for emoluments during Shampeachment, because THEY ALL DO IT.

That goes all the way to the White House, no doubt.

Marie on Sat, 03/21/2020 - 10:28am

Looks as if the crisis profiteers were on top of it:

Think about this:

Weeks before you had any inkling you were going to lose your job, was selling off millions of stocks -- and *buying* stock in a teleworking company.

-- Robert Reich (@RBReich) March 20, 2020

[Mar 19, 2020] Neoliberalism has an expiration date. And this day arrived. It's that simple.

If the ideology can't survive the objective reality, then it is not natural, but historically specific, therefore is doomed when the historical landscape changed.
Mar 19, 2020 | www.moonofalabama.org
physicians and providers ?"

Leonard Peikoff, of the Ayn Rand Institute, explained it this way: "Observe that all legitimate rights have one thing in common: they are rights to action, not to rewards from other people. The American rights impose no obligations on other people, merely the negative obligation to leave you alone. The system guarantees you the chance to work for what you want -- not to be given it without effort by somebody else ."

Richard M. Salsman, writing in Forbes Magazine, put it this way: "Doctors, nurses, hospitals, drug-makers, and health insurers are no more "servants" of the masses, or even of those in need of health care, than are businessmen, bankers, teachers, journalists, or truck drivers servants of those who need their services. If you want to pay for the services of health care providers, simply do so; if you can't afford it, try to negotiate a discount, or pay by installments, or seek access to private charity; but you have no "right" to take from health care providers what they're not willing to supply."

" where my nose begins"

The number of op-eds, articles, TV news segments, social media posts and videos, memes, etc. making this point is not small. It is a central ideological talking point of those who believe in the economic theories of Adam Smith and Milton Friedman.

Essentially, "rights" are only negative. Rights only exist to protect individuals from state coercion. They do not entitle anyone to anything. Positive "rights" like education, healthcare, and employment are in fact a violation because they involve an imposition on those required to fulfill them.

Your health is your business, not the business of society. The demand that the government protect your health is not legitimate. Henry David Thoreau wrote "the government is best that governs least." Reverend A.C. Dixon coined the widely misattributed phrase: "your liberty ends just where my nose begins."

The way adherents of western liberalism view the world, healthcare simply cannot be a right. Society has no obligation to individuals, and individuals have no obligation to society. The state simply exists to protect you from those who would harm you or steal your property.

The State & Coronavirus

On February 26th, US President Donald Trump addressed the public about the danger of the CoronaVirus. He said: "the number one priority from our standpoint is the health and safety of the American people. And that's the way I viewed it when I made that decision. Because of all we've done, the risk to the American people remains very low. We have the greatest experts in the world -- really, in the world, right here -- people that are called upon by other countries when things like this happen."

It seems that many of his supporters and detractors did not seem to realize that his words fly in the face of the longstanding mantra of his political allies. Why should the government prioritize the health of the American people? If healthcare is simply a personal matter, and the state has no right to impose on anyone else, how can the government take action to stop the CoronaVirus?

The reality is, however, that an uncontrolled outbreak of the Corona Virus would be a menace to public health. It is universally recognized that governments have an obligation to step in and prevent further outbreaks.

But then the question is raised, what makes CoronaVirus unique? When people in any society are unwell, it has a detrimental effect on society overall. A society with lots of diseased, unhealthy people in it, is problematic, even for those who are not diseased.

There is a reason that public health codes exist. There is a reason that the US appoints a Surgeon General as part of the Executive Branch. There's a reason that the US government has a Center for Disease Control.

It is universally recognized by the US public that on some level the state has the "right" to protect the collective health of its people. . The question is how much of a "right" to be healthy do US citizens have?

In many countries, the state ensures that citizens are insured. Some countries go as far as operating a national healthcare service, abolishing private hospitals and clinical services.

Bring A Chicken To The Doctor

The United States stands alone, among western countries, in maintaining a mostly private healthcare system. Richard Nixon's legislation creating Health Maintenance Organizations in 1973 set up a network of private insurers, who pay the medical bills of those who subscribe to their services.

Some free market conservatives and libertarians argue that even Nixon's 1973 reforms went too far. Sue Lowden, a conservative candidate for Congress in Nevada argued that the insurance companies created by the state were unnecessary, because prior to that Americans were free to barter with their physicians. She said "You know, before we all started having health care, in the olden days, our grandparents, they would bring a chicken to the doctor. They would say I'll paint your house . In the old days that's what people would do to get healthcare with their doctors. Doctors are very sympathetic people. I'm not backing down from that system ."

Regardless, Medical debt in the United States currently sits $3.3 trillion, roughly 17.9% of the country's GDP. In the year of 2019, 27 million Americans had no health insurance, meaning that they would have to pay for any healthcare services directly out of their personal funds.

If the government has an obligation to protect the entire US public from the Coronavirus, does it not have an obligation to ensure that the 27 million uninsured are able to acquire the healthcare they need? Does it not have an obligation to eliminate the $3.3 trillion in medical debt which is a huge weight on the economy?

Human Beings Are Collective Creatures

In essence, human beings are collective creatures. From the time of hunter-gatherer tribalism, to the slave empires of Mesopotamia, Egypt, Rome, and Greece, to the feudal commons, up to into the modern global capitalist economy, human beings have always cooperated with each other.

No one in this day and age can point to any product and say "I made this all by myself." The global economy, as it currently exists, involves human beings from across the planet, coming together to create products. A single electronic item may be the product of workers in 5 or 6 different countries. Even the most individualistic craftsmen use tools that are produced in assembly lines, and packaged by scores of other human beings.

Margaret Thatcher, an advocate of western individualism and economic liberalism, said "there's no such thing as society. There are individual men and women and there are families. And no government can do anything except through people, and people must look after themselves first."

However, the reality is the opposite of what Margaret Thatcher proclaimed. All of human history is a history of collectivism.

The CoronaVirus is a problem that not just neighborhoods and regions, not just countries, but the entire global community must address cooperatively. It shows the absolute necessity of breaking with the ideology that says human beings are only atomized individuals with no obligation to society, and with nothing owed to them.

Problems that threaten the entire human race, require the mobilizations of the entire human race to beat them back.

Western liberal individualist ideology, a convenient rhetorical device for the rich and powerful, fails to understand the very nature of human beings.

Caleb Maupin is a political analyst and activist based in New York. He studied political science at Baldwin-Wallace College and was inspired and involved in the Occupy Wall Street movement, especially for the online magazine "New Eastern Outlook" .

[Mar 19, 2020] The Decline of Neoliberalism Implications for CSR- - The BUSINESS of SOCIETY

Mar 19, 2020 | www.bos-cbscsr.dk

By Steen Vallentin.

"May you live in interesting times" – so the apocryphal English-language expression goes that people often refer to as 'the Chinese curse'. Times are certainly interesting. Taken for granted notions of what is up and down and left and right in politics are, if not turned on their head then knocked about in confusing and sometimes frightening ways.

The strange (non-)death of neoliberalism again?

One of the interesting developments in world politics right now is the crisis of neoliberalism as ideology. A development that some will indeed see as a curse, others as a blessing. It is not the first time that neoliberalism has been declared dead or seen to be in its death throes. Many obituaries of finance capitalism and global free trade were written in the wake of the financial crisis. Nevertheless, neoliberalism has shown itself to be remarkably resilient and has continued – in spite of public criticism – to be a dominant force in public policy around the world. Colin Crouch has referred to this recurring trajectory as 'the strange non-death of neoliberalism".

However, Brexit (and the election of Jeremy Corbyn as head of Labour) and the movements surrounding Bernie Sanders and Donald Trump in the United States are each in their own way symptomatic of a turning of the political tide against hyper-globalization and free market capitalism. The benefits of free trade – of goods, services and capital – and outsourcing of labor to low-cost destinations are now being challenged across the political spectrum. Even the Republic candidate for the presidency is questioning, supposedly (who knows with Trump), fundamental tenets of economic liberalism. The crisis of neoliberalism is both an intellectual and a popular one. Leading economists like Joseph Stiglitz, Paul Krugman, Jeffrey Sachs and Thomas Piketty are among its vocal adversaries, and a public/populist movement is revolting against the crises and rising inequality that are associated with it. Even top economist from the IMF have recently acknowledged that neoliberalism has been "oversold".

... ... ...


Steen Vallentin is Director of the CBS Centre for Corporate Social Responsibility (cbsCSR) and Associate Professor in the Department of Management, Politics and Philosophy at Copenhagen Business School.

[Mar 19, 2020] We are still barely starting to understand the consequences of Covid-19 for the future of neoliberal turbo-capitalism

Mar 19, 2020 | www.unz.com

Miro23 , says: Show Comment March 18, 2020 at 8:21 am GMT

We are still barely starting to understand the consequences of Covid-19 for the future of neoliberal turbo-capitalism. What's certain is that the whole global economy has been hit by an insidious, literally invisible circuit breaker. This may be just a "coincidence." Or this may be, as some are boldly arguing, part of a possible, massive psy-op creating the perfect geopolitlcal and social engineering environment for full-spectrum dominance.

Coronavirus is certainly a useful way to deflate a speculative bubble. The virus gets the blame rather the Dumpers in the Pump and Dump cycle.

Governments have decided to shut down their economies – which is in line with obsessive health and safety culture. In times past, flu variants would burn themselves out as host populations gained immunity. This time, people will probably still catch it anyway, while facing unemployment and bankruptcy.

No question that the Corona virus is putting the whole neoliberal world order under stress. The NWO needs globalization, debt , open frontiers and a petrodollar and they're all in trouble. Global trade has stopped. Can the public carry more debt? Frontiers are closing around the world. Oil has never had such an extreme demand/supply imbalance.

Would the NWO people (corporate globalists) do this to themselves through a planned Coronavirus 9/11 style "Event" to further extend their control of society? They can now extend their control but to do what exactly? The SWJ/racism conversation has completely disappeared and the Coronavirus is uniting populations in the crisis rather than dividing them.

Which makes it very unlikely that the Coronavirus was a planned 9/11 style "Event" to further remove civil liberties. The virus reaction is rebuilding nationalism, closing frontiers and crashing the wealth of elites. Elites may still try to use it to remove civil liberties but it doesn't look like it was planned that way. Right now, they seem to be as shocked and confused as everyone else.

If Western governments continue to fail in this challenge, the result may be a default return to localism. Local communities arrange their own governance, schooling, healthcare, policing and pay for it themselves saying goodbye to the corrupt Federal clown show.

[Mar 17, 2020] Will neliberalsm surive the second hard blow?

Mar 17, 2020 | www.moonofalabama.org

Debz , Mar 17 2020 4:12 utc | 131

A link from Bill Mitchell Professor of Economics at Newcastle University, in NSW Australia, with some advice for the Australian government an what is to be done.

"In the early days of the GFC, I thought that the neoliberal era, supported by the mainstream macroeconomists, might be coming to an end. Maybe I was a decade out in my prediction.

Perhaps this crisis, induced by a human sickness, will end the madness that has redistributed massive volumes of income to the top-end-of-town, sustained elevated levels of labour underutilisation and seen the traditional progressive political voices become mouthpieces and even agents for the neoliberal economic lies. I was wrong in 2008 on this score.

I hope something good like this comes out of the current disaster. The coronavirus comes on top of already growing dissent over the failure of mainstream economic policy. It will redefine what governments can do with their obvious fiscal capacity and will demonstrate once-and-for-all the lies that the mainstream economists tell about deficits, inflation, interest rates, etc. It will categorically demonstrate the capacity of the currency-issuer. All that will lay the foundation for a better future, if we get beyond this current malaise."

http://bilbo.economicoutlook.net/blog/

[Mar 16, 2020] How is the Consumer Society Doing by Stormy

Notable quotes:
"... Medical care in the States is just a huge goody bag for everyone except the patient. Doctors run up the bills. Hospitals run up the bills. Insurance companies take their cut. ..."
"... Privatization has its costs. Off-shoring has its costs. Austerity that feeds the rich and powerful has its costs. ..."
Mar 16, 2020 | angrybearblog.com
The rich, the wealthy, the privileged have to provide for themselves? What, no dog walkers, no maids, no waiters and all the other little people that make life a joy? Gardners, bus drivers, private nurses, second houses in the Hamptons, a third house in Hawaii–all cared for by the loving poor?

Cutting interest rates no longer primes the pump? Neo-liberalism on its last legs? What is going to happen when climate and ecological disruption really hit?

And Bezos now wants his enslaved workers to donate time to help others? King of the mountain, he is. The wonder of neo-liberalism in love with worker efficiency and low wages, he is.

And how is the health care going? Pharmaceuticals off-shored? The Sacklers and Pelosi–no longer arm in arm? Lobbyists losing their sting?

How much was universal health to cost? Yet every decent society manages it. And all Biden and the mass media can do is fret on costs. Both know that it takes time to answer that question–and it seems so clear and so simple–for the gullible.

Anyone ever checked on actual costs of an MRI in Canada compared with an MRI in the states? I have. In the states a full-body MRI scan costs $15,000 with a $3,000 co-pay. In Canada, at a for profit MRI screening area the same MRI costs $1,500.
How do I know? My son in the U.S. had an MRI–my step-daughter in Canada is an MRI specialist. I asked her for the exact price of the one my son had in the states – what her hospital charges for those who do not have insurance, i.e., visiting Americans!

Medical care in the States is just a huge goody bag for everyone except the patient. Doctors run up the bills. Hospitals run up the bills. Insurance companies take their cut.

In the States, the doctors hire squads of secretaries to keep track of everything. They even open their own medical centers that squeeze the patient dry. Walk into any doctor's office in Canada. One doctor and one helper: Max.

And the waste of time hunting for a package that will serve your needs and choice of doctors? There is no choice in the States .unless you are rich or a politician! And then worry if you lose your job will you be protected? What a nightmare every way we look at it.

And the free health care for every senator, representative take it away . Biden and Sanders should pay for health care services rendered, not suck on the public dole. Same for the POTUS and ex-POTUSes and their wives and children. The health coverage that any CEO enjoys should be automatically extended to every worker in that company.

And tax cuts for the wealthy? And a military budget both that the DNC and the GOP both love? We going "get" those Ruskies, Cubans, Venezuelans, and Iranians? God Bless America and its bombers. We still going to pay for privatization of the military?

And what about student debt? Are we going to allow those students to declare bankruptcy? Eh, Biden?

And credit cards that always take a hefty grab of every purchase! The store owner has to pay every time a credit card is used, just for the privilege of accepting credit cards. The consumer has to pay big time if he forgets a payment.

Why not nationalize banks? Seriously. Charge just five percent interest–enough to meet actual costs? Stop the revolving door between banking Treasury.

And is branding about to stop? After all, royals and the Obamas make fortunes on branding. Imagine, an ex-POTUS can now easily afford an $11-12 million house on Martha's Vineyard.

And will we finally see a drop in the locust swarm of ads that plague every corner of the Internet? Gweneth Paltrow is the ultimate destination of this consumer society: Smell my bottled vagina odor! Step right up and take a sniff.

Privatization has its costs. Off-shoring has its costs. Austerity that feeds the rich and powerful has its costs.

likbez , March 16, 2020 3:42 pm

Thank you Stormy,

You hit the nail.

Privatization has its costs. Off-shoring has its costs. Austerity that feeds the rich and powerful has its costs.

Destruction of the New Deal Capitalism was a tragedy. Only now we start realizing enormous costs of the neoliberalization of the country.

Casino capitalism now officially entered the second stage of its crisis as the current situation is the direct continuation of 2008 crisis

[Mar 16, 2020] The Man Who Sold the World Ronald Reagan and the Betrayal of Main Street America Kleinknecht, William 9781568584423 Amazon.

Notable quotes:
"... Kleinknecht also spares little on showing just how disengaged Reagan was, and how rich tycoons used this to their advantage. At the same time, along the lines of Paul Kennedy in "The Rise and Fall of the Great Powers," Kleinknecht notes that, even before Reagan's election, these tycoons were already more corporate raiders, looking to make money off various forms of cooking or tricking out company books, than they were corporate builders reinvesting in their companies. ..."
Mar 16, 2020 | www.amazon.com

This title is from an award-winning journalist, a major work of reporting and history that shatters the myth of Ronald Reagan. Since Ronald Reagan left office - and after his death especially - his influence has loomed over American life. Singled out for his 'courage, his kindness, his persistence, his honesty, and his almost heroic patience in the face of setbacks', a number of conservatives, from the late William Buckley to his former speechwriter Peggy Noonan to Republican nominee John McCain have looked to Reagan as a figure to regenerate the American conservative tradition as the Bush White House stumbles through crisis and scandal. This carefully calibrated image is a complete fiction, however.

The Reagan presidency was epoch-shattering, but not - as his propagandists would have it - because it invigorated private enterprise, toppled the Berlin Wall or made America feel strong again. Rather what gives Reagan such an awesome legacy is that he presided over the dismantling of one of the greatest social experiments in human history-an eight-decade period of reform in which working people were given an unprecedented sway over US politics, economy, and culture. Reagan halted this forward march toward democracy almost overnight.

In "The Man Who Sold the World", journalist William Kleinknecht explores Middle America and shows how Reaganism put the poor and working class back on the margins of everything except the basest popular culture. This scathing indictment of the Reagan legacy is the first comprehensive book to deal seriously with Ronald Reagan's place in contemporary America. Just as Americans are trying to grapple with the legacy of George W. Bush, "The Man Who Sold the World" shows how poorly we understand Reagan's.


Paul , Reviewed in the United States on October 11, 2016

If only more people knew the extent of the damage ...

If only more people knew the extent of the damage this man did to our country! I don't have time to write a long review, but this book takes an exhaustive look at every spectrum of the domestic policies that this laissez-faire, trickle-down, invisible hand of the free market president unleashed on Americans. And it doesn't even touch on Iran-Contra or the multiple despotic dictators he propped up or supported in Central America. 8 people found this helpful Helpful

Amazon Customer , Reviewed in the United States on March 7, 2013
A Small Glimmer of Truth

Since studying business and law in graduate school, every search for solutions to our policy problems has led me back to the changes made under Reagan. The sad truth is, his presidency was probably the most destructive in our history. If only more people would open their eyes to the truth about what he did to our society and our economy. Both our social battles and our declining economy are his legacies.

S. J. Snyder , Reviewed in the United States on April 9, 2010
Good book with a GREAT "hook"

Since a lot of conservatives like to claim Reagan did so much to help small towns' Main Street, and since Reagan himself pitched myths about that, Kleinknecht starts the book off with a brilliant conceit.

He actually visits Reagan's small-town birthplace of Dixon, Ill., and talks to people there about how it has changed since 1980. That includes people who say they'll only talk to him if not asked to comment negatively on Reagan - which is, itself, an indirect negative comment on Reagan!

Kleinknecht then supplements that with data from the Department of Labor, Department of Commerce, etc., showing just what Reagan did do to, and NOT "for," Dixon and by extension, other small towns.

Kleinknecht also spares little on showing just how disengaged Reagan was, and how rich tycoons used this to their advantage. At the same time, along the lines of Paul Kennedy in "The Rise and Fall of the Great Powers," Kleinknecht notes that, even before Reagan's election, these tycoons were already more corporate raiders, looking to make money off various forms of cooking or tricking out company books, than they were corporate builders reinvesting in their companies.

Kleinknecht then goes beyond that, showing that many conservatives, including economist Hayek (Hey, Milton Friedman, you didn't study him well enough!) warned about the perils of such unbridled "capitalism."

At a time when "conservatives" today bash lower-middle-class people for paying little to know income tax, while failing to point out massive companies like Reagan sponsor GM do the same on the corporate side, this reminder that conservativism is more than, and different from, what some talking heads today claim, is important.

That said, Kleinknecht cuts Jimmy Carter a bit too much slack and Bill Clinton a lot too much. I'm reminded of one of Clinton's first lies, IMO, where he said, with mock surprise, (not exact quote), "You mean my economic program is hostage to the bond market?" Yes, he was cleaning up parts of the Reagan deficit mess old man Bush hadn't fully tidied. But, he was too close to Jackson Stephens to really be surprised. Ditto for Congressional Democratic leadership, beyond the increasingly frail Tip O'Neill, in the Reagan era. (This means you, Jim Wright.)

This really is, though, at least a 4/5 star book. Ignore the 1-star reviews.

[Mar 16, 2020] OK, neoliberalism is bad. But what is the alternative?

Mar 16, 2020 | angrybearblog.com

  1. likbez , March 16, 2020 3:42 pm

    Thank you Stormy,

    You hit the nail.

    Privatization has its costs. Off-shoring has its costs. Austerity that feeds the rich and powerful has its costs.

    Destruction of the New Deal Capitalism was a tragedy. Only now we start realizing enormous costs of the neoliberalization of the country.

    Casino capitalism now officially entered the second stage of its crisis as the current situation is the direct continuation of 2008 crisis

Bert Schlitz , March 16, 2020 5:07 pm

How was that "New Deal Capitalism" doing by 1979? Pretty bad. Maybe its time to realize that capitalism itself is dying and has been since 1923 when the industrial revolution crested. Most people don't want to hear that. Nothing will work to bring it back. Not New Deal Capitalism. Not Gold Standard driven monetary system either. Nothing will work.

The only thing that will save capitalism is a new industrial revolution that=cheap debt to growth.

likbez , March 16, 2020 6:33 pm

How was that "New Deal Capitalism" doing by 1979? Pretty bad.

True. And currently the return to the New Deal is impossible as "management class" is now allied with the owners of the capital. The tectonic plates shifted

So neoliberalism proved to be a resilient social system even in its current zombie state, which it entered after 2008 when the neoliberal ideology was discredited.

But the problem is that for most people (other then, say top 10% of population) the cure was worse then the disease.

Can you please look at William Kleinknecht's book "The Man Who Sold the World: Ronald Reagan and the Betrayal of Main Street America." It's just $3 on Amazon (used.)

Ronald Reagan, when the layers of myth are peeled away, was ar-
guably the least patriotic president in American history. He laid the
foundation for a new global economic order in which nationhood
would gradually become meaningless. He enacted policies that helped
wipe out the high-paving jobs for the working class that were the real
backbone of the country.

This supposed guardian of traditional values was the architect of wrenching social change that swept across the country in the 1980s, the emergence of an eerie, overcommercialized, postmodern America that has left so much of the populace psychically adrift.

Reagan propelled the transition to hypercapitalism, an epoch in which the forces of self-interest and profit seek to make a final rout of traditional human values. His legacy -- mergers, deregulation, tax
cuts for the wealthy, privatization, globalization -- helped weaken the
family and eradicate small-town life and the sense of community.

[Mar 15, 2020] The Companies Putting Profits Ahead of Public Health

Mar 14, 2020 | www.nytimes.com

As the coronavirus spreads, the public interest requires employers to abandon their longstanding resistance to paid sick leave.

By The Editorial Board

The editorial board is a group of opinion journalists whose views are informed by expertise, research, debate and certain longstanding values . It is separate from the newsroom.

Most American restaurants do not offer paid sick leave. Workers who fall sick face a simple choice: Work and get paid or stay home and get stiffed. Not surprisingly, the Centers for Disease Control and Prevention reported in 2014 that fully 20 percent of food service workers had come to work at least once in the previous year " while sick with vomiting or diarrhea ."

As the new coronavirus spreads across the United States, the time has come for restaurants, retailers and other industries that rely on low-wage labor to abandon their parsimonious resistance to paid sick leave. Companies that do not pay sick workers to stay home are endangering their workers, their customers and the health of the broader public. Studies show that paying for sick employees to stay home significantly reduces the spread of the seasonal flu. There's every reason to think it would help to check the new coronavirus, too.

[Mar 15, 2020] COVID-19 epidemic promote cooperation and as such should be viewed as the second stage of the collapse of neoliberalism

Mar 15, 2020 | www.counterpunch.org

Some people see the world as an infinite number of prize fights, each with one winner and one loser. For them life is an unending series of these zero-sum games. Unfortunately, one of these people is the President of the United States.

One example of something that is not a zero-sum game is a global pandemic. Someone else's sickness is for me not a gain but a threat. No nation gains from the toll in another nation. To fight against the contagion, the main weapon is cooperation, on all levels, from interpersonal to international. On the international level, sharing resources and information is essential, because any vulnerability of any nation threatens the people of all other nations.

The nations fighting one another in World War I thought the opposite. So each one, including the US, treated the growing epidemic of 1918 as a military secret. The existence of the killer virus became public only because Spain, which was not one of the warring nations, refused to censor news about the disease. Estimates of death from the 1918 pandemic range from 17 million to 100 million. The war directly killed 53,000 Americans. The virus killed between 500,000 and 675,000 Americans. A deeper look would reveal that the ravages of the war, together with the perverted culture of war, were the pandemic's greatest enablers, if not its causes.

Today we no longer fight wars on the grand scale of World Wars I and II, the Korea War, the Vietnam War, and the Iraq War, at least for a couple of decades. We mainly fight what are called, euphemistically, low-intensity wars and trade wars. The United States in particular has repeatedly demonstrated its ability to destroy the economy and infrastructure of entire nations, even such developed nations as Venezuela and Iran, using only subversion, bribery, boycotts, sabotage, disinformation, and tariffs.

This raises some questions too big to answer well in a brief essay. Question 1: Didn't this present preferred war-fighting strategy in fact destroy the Soviet Union, making the United States the winner of the Cold War? There were three attempts to use conventional armies to destroy to the Soviet Union. First was the coordinated invasion, launched in 1918 by Britain, France, the US, Japan, Australian, Canada, Czechoslovakia, Serbia, Italy, Poland, Greece, and Romania. Second was the series of invasions by Japan, beginning in 1931 and ending with the Soviet destruction of Japan's 6 th Army in the historic Battle of Khalkin Gol in August 1939. Finally came the invasion by the Nazi juggernaut that had just easily conquered all its European adversaries. The USSR defeated even this military colossus in the decisive battle of World War II. Yet forty-five years of the Cold War left the USSR a dismembered giant corpse. Thus the second question: Could the strategy of Cold War destroy China, the latest contender to be the world's largest and most technologically advanced nation? Even before Covid-19 arrived, Trump's economic and political warfare against China was seriously damaging the Chinese economy as well as inflicting significant damage on its own. This leads to the most important question.

There was certainly a loser in the Cold War. But was the United States a winner? Looking at our abysmal health care statistics (including life expectancy, infant mortality, obesity, drug addiction, and suicide), our collapsing infrastructure, our disgraceful public education and public ignorance, the grotesque inequality between the one percent and everyone else, and our dysfunctional political system, one might ask: What did we win? And what would our nation look like today if, instead of the Cold War, we had extended the wartime cooperation with the USSR? The only certain outcome of the Cold War is that both Russia and the United States each still possess a doomsday weapon that continually threatens to wipe out human civilization and perhaps our species.

Which brings us back to today's bleak scene of crashing stock markets, a tragic-comic US election, and a disease threatening our personal freedom, our social pleasures, and our lives. China, seriously weakened by the US trade and political wars, made the same mistake as the World War I belligerent nations: trying to keep Covid-19 a secret. The Trump administration, among many other blunders and gaffes, is now making a worse and truly incomprehensible mistake: maintaining the tariffs and the rest of the trade war.

It is making the same mistake in relation to Iran. Before Covid-19 hit, the US had succeeded in wrecking much of Iran's economy and infrastructure, leaving that nation unable to contain the disease. The zero-sum game thinking behind this US policy hardly helps us win the game of death the virus is playing against us.

Trump's continuation of his trade war with China is also directly damaging the US and global economies, thus significantly exacerbating the crash of stock markets at home and around the world. This should be obvious to Washington policy makers, but perhaps not to someone who inherited 412 million dollars and proceeded to go bankrupt multiple times.

Trump is now blaming the stock market crashes on the media and Democrats for allegedly exaggerating the dangers of the virus. Covid-19 is certainly the event that triggered the crashes and it will certainly worsen the recession that now threatens. But remember that before the virus struck, there were already numerous warnings of both wildly overvalued markets and a possible recession looming in the months ahead. US manufacturing indices were already contracting. The Trump Administration was handing out tens of billions of dollars to bail out American farmers, to make up for their loss of markets due to Chinese retaliation. The yield curve had already inverted twice, usually a reliable indicator of coming recession. Long-term interest rates were so low that they were giving the lie to stock market's wild euphoria (which often precedes a major selloff or crash). Trump desperately sought to keep the markets fat and happy and to postpone any recession until after his reelection. That's why he was furiously bullying to Fed to cut interest rates drastically. He even urged the Fed to push into negative yield territory.

Now think back to late 2007 and 2008, when eight years of Republican recklessness in war and finance came perilously close to destroying the global banking system and did succeed in crashing the markets and plunging the nation, and the global economy, into what's now called the Great Recession, the worst recession since the Depression of 1929 and the 1930s. The only one major nation that steered clear of recession was China. While demand was collapsing around the world, it was China, acting like some super engine, that pulled the global economy out of the quagmire. Continuing to wage economic war against China today is thus suicidally insane.

Neither Covid-19 nor a major recession poses a threat to our survival as a species. We do, however, face two existential threats, both created by our species, and each featuring our nation in the lead role. At the very moment when only global unity and cooperation can save us from threats of nuclear holocaust and environmental devastation, deadly nationalism is tearing our species apart. Can Covid-19 teach us that those two great menaces to our existence are also not zero-sum games? That our species either wins or we, as well as many other species, all lose?

[Mar 14, 2020] This is a transformational moment in history that will allow American politics to socialize and turn away resolutely from the anti-government stupidity represented by Trump and all the anti-New Deal elements among the elite predators that have dominated politically since Reagan

Notable quotes:
"... This is a transformational moment in history that will allow American politics to socialize and turn away resolutely from the anti-government stupidity represented by Trump and all the anti-New Deal elements among the elite predators that have dominated politically since Reagan. It is a mistake to chose Biden, chief author of the Patriot Act, business-as-usual candidate, corporate lackey, weasel. ..."
Mar 14, 2020 | www.moonofalabama.org

jadan , Mar 14 2020 2:45 utc | 187

This is a transformational moment in history that will allow American politics to socialize and turn away resolutely from the anti-government stupidity represented by Trump and all the anti-New Deal elements among the elite predators that have dominated politically since Reagan. It is a mistake to chose Biden, chief author of the Patriot Act, business-as-usual candidate, corporate lackey, weasel.

Bernie is the only rational choice, but the American people are not rational, and do not yet understand the urgency of a radical left turn. Much suffering will be the result and a radical right turn could occur, although disenchantment with the blithering idiocy of Donald Trump has already deprived him of any chance of re-election. The virus is going to take him down before profound political embarrassment. He's a dead man walking.This may be true of Bernie & Biden as well, but I say this without prejudice.

The Chinese clearly knew the character of this virus before it became apparent to the world. They did not react so swiftly or dramatically to earlier outbreaks like SARS, swine flu, avian flu and etc. They had prior knowledge of the potential of nCov2019. The US did not.

Why do we have a National Security Council or a Department of Homeland Security if they cannot read the writing on the wall? It was an accidental release of a weaponized virus. The US should have taken a cue and reacted with similar conviction shown by the CCP. But we have no leadership worth a shit.

Our representative republic has suffered an embarrassment in this failure to protect the people while a so-called national enemy, a communist dictatorship, has demonstrated more effective leadership and greater capability to protect its people. This is more than an embarrassment. It is an indictment of our political system.

It is time to turn sharply left to social democracy.

[Mar 14, 2020] Congress discard neoliberalism and jump into direct the New Deal Style action

Mar 14, 2020 | turcopolier.typepad.com

"Every aspect of modern life is being hit as sweeping measures are rolled out in an effort to stem the coronavirus pandemic. President Trump declared a national emergency Friday "to unleash the full power of the federal government."
"No resource will be spared, nothing whatsoever," the president said as stocks rose sharply, regaining some of their recent losses.


Hours later, the House overwhelmingly approved legislation to give direct relief to Americans impacted by the spreading virus. Central to the aid package are free testing and sick pay guarantee for Americans affected.


People who are sick with the virus and have to be treated or quarantined would qualify for the sick pay benefit, which requires employers to offer 14 days of sick leave at "not less" than two-thirds of an employee's normal pay. Others who would qualify for paid sick leave are those who need to be home to care for a child whose school or childcare center has closed, and those who need to leave their jobs to take care of a family member infected with the virus.


The legislation offers three months of paid family and medical leave. And small and mid-sized employers would be reimbursed through tax credits." CBSNEWS


J , 14 March 2020 at 01:10 PM

Here's a link that I hope will be helpful to those wondering.

CoronaVirus.Gov

https://www.cdc.gov/coronavirus/2019-ncov/index.html

robt willmann , 14 March 2020 at 02:40 PM
The Robert T. Stafford Disaster Relief and Emergency Assistance Act appears to be in Title 42, U.S. Code, Chapter 68--

https://uscode.house.gov/view.xhtml?path=/prelim@title42/chapter68&edition=prelim

https://www.law.cornell.edu/uscode/text/42/chapter-68

ST Harris , 14 March 2020 at 02:57 PM
And don't forget the amped up Fed repo purchasing, the fed had been trying to pull back on these since late last year, but this means max power QE2 through 2020, for better and for worse:

https://www.wsj.com/articles/overall-fed-temporary-liquidity-rises-to-283-1-billion-11584021405

[Mar 14, 2020] Erik Olin Wright and the Anti-capitalist Economy by Edward J. Martin

the idea the neoliberalism is "internal colonialism" is a very important one.
Mar 14, 2020 | dissidentvoice.org

/ March 12th, 2020

The devastating effects of neoliberal economic schemes have laid the foundation for rebellion against this very system. Neoliberalism, understood as unrestricted free market economics can be traced to the sixteenth-century European colonization of the "new world" and its later manifestation in imperialism and neo-imperialism. This strategy has also fueled the industrial revolution until it met its fate with the Great Depression. The New Deal policies of the Roosevelt administration in the 1930s provided a temporary reprieve, but ultimately failed to secure a permanent solution to market failure. The proof of this vulnerability is made clear in the Great Recession some seventy years later with the market collapse in 2008.

In spite of these historical calamities, the rich have amazingly benefitted from their own economic disaster while the middle class and poor have been forced to financially both suffer from economic devastation and, adding insult to injury, bare the cost of repairing the disaster the rich have visited upon them. The rich, power elite, or one percent, whatever the spin, are clearly waging economic war on the people, and this has been dragging itself out since the inception of the United States. Today the result for most citizens is the lived reality of being "liquid asset poor," or put in other terms, "one paycheck away from disaster." Moreover, the devastation of the administrative state over the past forty years, starting with the Reagan era, has been a major factor in destroying the social safety net and in so doing unleash the "animal spirits" of the free market.

It is obvious. The neoliberal economic model is destroying life for Americans and some form of resistance to capitalism is needed more than ever. To this Erik Olin Wright develops an anti-capitalist strategy using metaphors such as: smashing capitalism, taming capitalism, escaping capitalism, and eroding capitalism . In this Wright constructs a new conceptual model based on two of the metaphors, "taming and eroding" capitalism. 1

Smashing Capitalism

The evidence that neoliberal and monopoly capitalism has historically devastated the lives of people, "smashing capitalism" is understandable. The reason for smashing capitalism is because it is a corrupt institution; reform is impossible since it is controlled by the interests of powerful elites. At times small reforms are possible through public policy, yet such reforms are contingent and subject to legislative change. Wright argues that policy in this regard is held captive by its elite clientele and international elites. This makes public policy unresponsive to the needs of the general public. In lieu of this, "smashing capitalism" through class struggle seems to be the only alternative. The idea that capitalism can be rendered a benign social order to which ordinary people benefit is a delusion. Instead the rational alternative is to end the life of capitalism and then reconstruct a state socialist alternative.

Aside from the strengths and weaknesses of revolutionary action, there are too many "moving parts," too much complexity, and too many unintended consequences in which revolutionary action, directed at terminating capitalism, is not feasible. Attempts at "system rupture" as Wright describes it, will tend to unravel into such chaos that revolutionary elites, regardless of their motives, will be compelled to resort to pervasive violence and repression to sustain social order. Such violence, in turn, destroys the possibility for a genuinely democratic, participatory process of building a new society. The evidence from the revolutionary tragedies of the twentieth century seem to indicate that smashing capitalism , according to Wright, fails as a strategy for social emancipation.

Taming Capitalism

An alternative to smashing capitalism is taming capitalism. Critics of capitalism argue that capitalism is self-destructive. It generates levels of inequality that undermine social cohesion. Capitalism destroys traditional jobs and leaves people to fend for themselves. It creates uncertainty and risk for individuals and communities. These are consequences of the inherent dynamics of a capitalist economy. Nevertheless, Wright argues that it is possible to build counteracting institutions neutralizing the negative externalities of capitalism. Well-crafted policies are more than possible at taming capitalism. Given favorable political circumstances, it is possible to win policy battles and impose the constraints needed for a more benign form of capitalism. The idea of taming capitalism does not eliminate the underlying tendency for capitalism to generate harms; it simply counteracts their effects.

This is similar to a medicine which effectively deals with symptoms rather than underlying causes. Known as the "Golden Age of Capitalism" – roughly the three decades following World War II – social-democratic policies, specifically in those locations where they were most thoroughly implemented, did a fairly good job at moving in the direction of a more humane economic system. Three clusters of state policies, in particular, that significantly counteracted the harm of capitalism are: health, employment, and income. So too, the state provided an expansive set of public goods (funded by a robust tax system) that included basic and higher education, vocational skill formation, public transportation, cultural activities, recreational facilities, research and development, and macro-economic stability. In large part the corporate media is to blame. Educational institutions as well. Still, for Wright taming capitalism remains a viable expression of anti-capitalism.

Escaping Capitalism

One of the oldest responses to the onslaught of capitalism has been to escape. For Wright, escaping capitalism may not have crystallized into systematic anti-capitalist ideologies, but nevertheless it has a coherent logic: capitalism is too powerful a system to destroy. Truly taming capitalism would require a level of sustained collective action that is unrealistic, and albeit, the system as a whole is too large and complex to control. The power elite control the United States and they will always coopt opposition and defend their privileges. The impulse to escape is reflected in many familiar responses to the harms of capitalism. For example, the movement of farmers to the Western frontier in nineteenth-century United States was, for many, an aspiration for stable, self-sufficient subsistence farming rather than production for the market.

Escaping capitalism is implicit in the "hippie" motto of the 1960s, "turn on, tune in, drop out." The "Go It Alone" demeanor and the "community economy" may be motivated by stagnant individual incomes during a period of economic austerity, but they can also point to ways of organizing economic activity that are less dependent on market exchange. More generally, the lifestyle of voluntary simplicity can contribute to broader rejection of consumerism and the preoccupation with economic growth in capitalism. Fleeing from the complexities and even injustices associated with capitalism will, in the long run, fail to address the deeper structural issues that could in fact return to promote worse outcomes from prior experiences. Escaping capitalism fails to address the underlying causes of capitalism's inadequacies and the outcomes that effect other's lives whatever their perspectives on capitalism.

Eroding Capitalism

The fourth form of anti-capitalism is the least familiar, eroding capitalism. This orientation for Wright, identifies capitalism as a socioeconomic system organized around three basic components: private ownership of capital; production for the market for the purpose of making profits; and employment of workers who do not own the means of production. Capitalists claim that markets are the most efficient and effective means for the distribution of scarce resources. The same capitalists, on the other hand, must confront problems with the distribution and equity of these resources. As a result, public policy has attempted to address these issues through what Wright describes as the "eroding capitalism" theme: policy implementations to remediate market failures. This includes nonprofits and nongovernmental organizations.

A number of these organizations can be thought of as hybrids, composed of capitalist and non-capitalist entities; some are non-capitalist while some are anti-capitalist. Thus, the eroding force on capitalism is to construct more inclusive, democratic, egalitarian, economic models wherever possible, and to struggle to expand and defend these efforts to the point where capitalism is no longer dominant. The eroding process evolves over time. As a strategic vision, eroding capitalism is both enticing and far-fetched in that social justice and emancipatory social change, attempt to build on a new world on economic and environmental justice, within the current capitalist structure, albeit flawed. Simply put, an economy dominated by capitalism could never be eliminated since the existence of large capitalist corporations are responsible, to a large degree, for livelihoods.

Eroding capitalism is not a fantasy for Wright. It is only plausible if it is combined with the social-democratic idea of taming capitalism , linking the bottom-up, society-centered strategic vision of anarchism with the top-down, state-centered strategic logic of social democracy. The goal is to tame capitalism in ways that make it more erodible so that eroding and taming capitalism, without its total elimination, is a position that makes sense in the context of understanding this position as a "pipedream" or "utopia."

Taming and Eroding

So, how should one as an anti-capitalist seek to implement a democratic economy?

First, abandon the fantasy of smashing capitalism. Capitalism is not able to be smashed, at least if the goal is to construct an emancipatory future aimed at social justice. It is a massive international institution whose destruction, presumably by some revolutionary force, would devastate the world financial system. Second, by escaping capitalism and moving off the grid and minimizing involvement with the market, is neither a realistic nor an appealing option for most people, especially those with families, financial responsibilities, etc. As a tactic for social change, it has little potential to foster a broader process of social emancipation.

In summary, if persons are concerned about living in a civilized world, in one way or another, social justice demands that capitalism, as it manifests itself today on a global scale, must address its inner demons, structures and institutions. Anti-capitalism thus directs its attention to taming and eroding capitalism . The real utopian emancipatory efforts can be directed at democratic economic models that serve the needs of labor as a priority, profits follow subsequently. This arguably is the best approach to remediating the precarious nature of the market and which also presumes that individuals and communities need to participate both in political movements for taming capitalism through public policies and in socioeconomic projects for eroding capitalism through the expansion of ongoing emancipatory forms of economic activity. This implies that people must renew an energetic progressive social democracy that not only neutralizes the harms of capitalism but also facilitates initiatives to build real utopias with the potential to erode the dominance of capitalism.

An anti-capitalist emancipatory project must have specific human rights guarantees in order for this emancipatory project to be successful. As Bernie Sanders argues, authentic freedom must embrace "economic security." Arguably, this can best be achieved with the reintroduction of FDR's Economic Bill of Rights. Hence the assurance of a democratic economy and an anti-capitalist strategy based on taming and eroding the inherent contradictions and nihilistic direction of capitalist designs.

  1. Erik Olin Wright, How to Be an Anti-capitalist for the 21st Century , Verso Books, 2019. [ ]
Edward J. Martin, Ph.D. is Professor of Public Policy and Administration, California State University, Long Beach, Graduate Center for Public Policy and Administration. His areas of research include political economy, sustainable development, welfare policy, and inequality. He is Editor-in-Chief for the International Journal of Economic Development. His publications have appeared in New Political Science, Contemporary Justice Review, International Journal of Public Administration, and Social Policy. He is co-author of Savage State: Welfare Capitalism and Inequality and Capitalism and Critique: Unruly Democracy and Solidarity Economics. Read other articles by Edward J. .

This article was posted on Thursday, March 12th, 2020 at 3:32pm and is filed under Book Review , Capitalism , Neoliberalism .

[Mar 13, 2020] This virus is revealing just how ineffective the neoliberal social Darwinist "every man for himself" ethos is and how deeply in denial and out of touch with reality these societies are

Mar 13, 2020 | www.moonofalabama.org

Daniel , Mar 13 2020 22:16 utc | 138

@Joanne Leon 15
The explosion of hate and blame and fear flying around online with regard to this pandemic is more than alarming and ultimately useless and damaging. In a way it scares me more than the flu itself at the moment because of the implications of how it will hinder our ability to cooperate and deal with this.

That's a good point. Western society with its twisted guiding philosophy of radical individualism and competition combined with a supremacist "that could never happen here" attitude quickly falls into panicked chaos when reality kicks in and reveals the society's underlying vulnerabilities. Countries with weak social safety nets and an ideological opposition to social responsibility are extremely vulnerable to systemic breakdown when their societies are under unexpected stress.

This virus is revealing just how ineffective the neoliberal social Darwinist "every man for himself" ethos is and how deeply in denial and out of touch with reality these societies are. Additionally, the house of cards that makes up the global economy has been in crisis mode since 2008, when it was bailed out by massive money printing in the US and EU and China pumping billions of dollars into the economy to keep it afloat, simply can't handle any additional stressors without going into breakdown mode.

In this kind of situation where clear headed cooperation and mutual effort are required the opposite happens and people go into panic and finger pointing mode looking for some external enemy to blame. Just imagine what will happen if global warming turns out to be as serious as many are predicting.

[Mar 13, 2020] Free trade suddenly seems like a dangerous fantasy, as nations start putting their own people first

Mar 13, 2020 | www.theamericanconservative.com

It may one day be said that the coronavirus delivered the death blow to the New World Order, to a half-century of globalization, and to the era of interdependence of the world's great nations.

Tourism, air travel, vacation cruises, international gatherings, and festivals are already shutting down. Travel bans between countries and continents are being imposed. Conventions, concerts, and sporting events are being canceled. Will the Tokyo Olympics go forward? If they do, will all the anticipated visitors from abroad come to Japan to enjoy the games?

Trump has issued a one-month travel ban on Europe.

As for the "open borders" crowd, do Democrats still believe that breaking into our country should no longer be a crime, and that immigrants arriving illegally should be given free health care, a proposition to which all the Democratic debaters raised their hands?

The ideological roots of our free trade era can be traced to the mid-19th century, when its great evangelist, Richard Cobden, rose at Free Trade Hall in Manchester on January 15, 1846, and rhapsodized: "I see in the Free Trade principle that which shall act on the moral world as the principle of gravitation in the universe -- drawing men together, thrusting aside the antagonism of race, and creed, and language, and uniting us in the bonds of eternal peace."

In the pre-Trump era, Republicans held hands with liberal Democrats in embracing NAFTA, GATT, the WTO, and most favored nation trade privileges for China.

In retrospect, was it wise to have relied on China to produce essential parts for the supply chains of goods vital to our national security? Does it appear wise to have moved the production of pharmaceuticals and lifesaving drugs for heart disease, strokes, and diabetes to China? Does it appear wise to have allowed China to develop a virtual monopoly on rare earth minerals crucial to the development of weapons for our defense?

In this coronavirus pandemic, people now seem to be looking for authoritative leaders and nations seem to be looking out for their own peoples first. Would Merkel today invite a million Syrian refugees into Germany no matter the conditions under which they were living?

Is not the case now conclusive that we made a historic mistake when we outsourced our economic independence to rely for vital necessities upon nations that have never had America's best interests at heart?

Which rings truer today? We are all part of mankind, all citizens of the world. Or that it's time to put America and Americans first!

Patrick J. Buchanan is the author of Nixon's White House Wars: The Battles That Made and Broke a President and Divided America Forever. To find out more about Patrick Buchanan and read features by other Creators writers and cartoonists, visit the Creators website at www.creators.com.


EdMan 11 hours ago

Wiping out the NWO and discrediting globalism's the silver lining to the dark cloud of the coronavirus.
IanDakar EdMan 8 hours ago
Which leaders have been speaking of ways to reverse the ways of globalism and how close are they to obtaining power? This is going to require a changing of the elites fro mthe ones who are and will continue to push this form of globalism to the ones that are willing to switch to a new system.

(there will always be an elite. It's just a question of which ones you let wield power as not all of them are the type that we carry.)

AlexanderHistory X 8 hours ago
Unfortunately a ton of people are still espousing open borders globalism. This includes a large number of visible elites, the vast majority, in fact.
The best thing that could happen is that those who espouse such dangerous ideas are held to account by nature. Let them get sick with the Wu flu, let them be unable to attain medication because China has restricted exports to us. Let's see what they think after they have finally begun to experience the ramifications of their ideological thinking.
Awake and Uttering a Song AlexanderHistory X 3 hours ago
The elites will ALWAYS have access to medication they need. Most of them will NEVER "experience ramifications" in any way more than minor inconveniences.
Don Quijote 6 hours ago
Considering that you can get from New York City to Tokyo in under 24 hours, and that there are no major city on the Planet that cannot be reached from the lower forty-eight in under 48 hours, how do you intend to reverse globalism? Ban airplanes, telephones and the internet-based communications?

Because short of that, Globalism is here to stay.

[Mar 11, 2020] Neoliberal v Neoclassical economics - what's the difference - Renegade Inc

Mar 11, 2020 | renegadeinc.com

Neoliberal v Neoclassical economics – what's the difference? By Claire Connelly Economics & Finance | Loading Bookmark to dashboard

Neoliberalism and neo-classical economics are often terms that are used interchangeably by various economists and financial writers, but actually, there are important differences between the two. We've had some requests from readers to make that distinction more obvious, so here goes

Neo-classical economic theory puts 'man' as a rational human being at the heart of the economic system, extrapolating the functions of the economy based on optimised behaviour of rational, well-informed individuals trading with one in another in what is effectively a barter system (which as I'm sure we all know by now, never actually existed ). It is based on the general equilibrium model pioneered by late 19th century economist Leon Walras , of the Lausanne School. Ironically, neoclassical economics guarantees full employment because it models a system with no frictions or inconveniences like trade unions, minimum wage laws or imperfect information. Also false.

It also guarantees that society will find an optimal allocation of resources on its own, so long as markets are competitive, and there are no externalities, like pollution, which go unaccounted for.

Neoclassicists are concerned about monopoly power, neoliberals are not. Neoclassicists believe it merits government intervention and regulation. Neoliberals, do not.

It is possible to be a neoclassical without being a neoliberal.

The most important thing to understand is that neoliberalism is a post-war political movement that grew out of the Mont Pelerin Society , a thought collective that formed a consensus not to put the market at the centre of the state, but to take it over completely. Its entire objective is to co-opt economics and subvert the public interest to suit the needs of powerful capitalist institutions and the politicians, economists, financiers, philosophers, bankers, think-tanks and media organisations that support them.

Neoliberalism is associated with laissez-faire economic liberalism and was pioneered by economist Milton Friedman & Friedrich Hayeck, but as the economic historian, Philip Mirowski points out, this is a deliberate deception to trick people into thinking it is concerned about market equilibrium.

It is the doctrine by which white collar crime has been allowed to prosper unprosecuted while governments of wealthy nations like the US and UK have abdicated their responsibility for employment, health care, education and the general well-being of the populations they are supposedly elected to serve. In their minds, government exists only to maintain property rights, defend capitalists and maintain price stability, (which apparently doesn't count as intervention when it works in the favour of the wealthy).

We are what we eat, well, in free market terms anyway
Whilst 90% of the US media (film, TV and radio) is controlled by only 6 companies.

Unlike neoclassicists and neoliberals, heterodox economists and other post-Keynesians, reject the notion of general equilibrium. They believe the economy evolves through non-equilibrium states over time. Heterodox economists believe governments need to introduce instability-thwarting mechanisms to stabilise the economy, maintain full employment, and retain social equity.

"Free-market economists may want you to believe that the correct boundaries of the market can be scientifically determined, but this is incorrect," writes institutional economist, Ha-Joon Chang, in his book 23 Things They Don't Tell You About Capitalism .

https://www.youtube.com/embed/J7m9wfFnH6o

"If the boundaries of what you are studying cannot be scientifically determined, what you are doing is not a science," writes the Cambridge University economist.

"Recognising that the boundaries of the market are ambiguous and cannot be determined in an objective way lets us realise that economics is not a science like physics or chemistry, but a political exercise."

In other words, a strong economy requires constant time, attention, assessment, and when it is called for, intervention. The rules will not always be the same, nor the causes. But it helps to start with an understanding of the role and purpose of government spending and taxation .

Further Listening

Listen to this interview economic historian Philip Mirowski who delves into the further nuances of these economic mindsets.

https://www.youtube.com/embed/cf2YQ-1wvrc?feature=oembed

Claire Connelly Claire Connelly Claire Connelly is the lead writer of Renegade Inc. An award-winning freelance journalist, speaker, and founder of subscription journalism experiment, Hello Humans.

Specialising in economics, technology and policy, Connelly is working on her first book due out in 2018.

With more than a decade of experience under her belt, Claire has written for leading publications including The Australian Financial Review, The Saturday Paper, ABC, SBS, Crikey, New Matilda, VICE & others. She is the co-host of The Week In Start-Ups Australia, and features regularly as a commentator on TV and radio shows including Radio National's Download This Show, ABC's The Drum, Ten's The Project, and more. Claire Connelly Latest posts by Claire Connelly ( see all )

Posted in Economics & Finance Tagged Economic Policy , Free Market , laissez-faire , Mont Perin Society , Neoclassical Economics , Neoliberalism 15 thoughts on "Neoliberal v Neoclassical economics – what's the difference?"
  1. Pingback: Renegade Inc: Neoliberal v Neoclassical economics – what's the difference? – Brave New Europe
  2. Tom Woods says: March 19, 2018 at 6:26 pm

    What were Hayek's contributions to capital theory? Just wondering. I have never encountered a single person who speaks of "neoliberalism" (a term we ourselves never use to describe what we believe) who has read a single word of Hayek's economic work. Or who even knows who Ludwig von Mises is.

    (Whenever the two economists mentioned are Milton Friedman and F.A. Hayek, I know I'm dealing with somebody who hasn't read anything.) Reply

    1. Dave says: March 19, 2018 at 8:07 pm

      But of course you have read everything and know all, right Tom ? What specifically is wrong with this account ? If you can't dispute anything within the piece why do you attempt to dismiss it out of hand by implying without a shred of evidence what someone has or hasn't read ? How could you possibly know what someone has read or hasn't ? Reply

    2. David Blobaum says: March 19, 2018 at 8:57 pm

      (Whenever someone disqualifies someone else based on assumption I know I'm dealing with bruised ego) Reply

    3. John Giles says: March 20, 2018 at 6:13 am

      What actually is "capital theory", Tom. Why don't you use the term 'neoliberalism?
      Why do you think Claire hasn't heard of Mises and why would it be important anyway? Mises and the Austrian School are part of the problem that the article refers to. Reply

  3. Alan Luchetti says: March 20, 2018 at 12:13 am

    "(Whenever the two economists mentioned are Milton Friedman and F.A. Hayek, I know I'm dealing with somebody who hasn't read anything.)"

    I think you meant "dealing to".

    And why so ignorant of Hayek on capital theory? 😉 Reply

  4. Hoobert Herver says: March 20, 2018 at 9:38 pm

    Sorry. I just don't believe even smart people can manage markets. That's the nature of markets: they are individual. If you haven't read Von Mises or Hayek, you're missing out on the thinking of two very smart people. It is hard for me to embrace the idea that – because a market doesn't seem to function as a person might want it to – persons should be given authority to govern those markets in a way that suits them. That, in itself, distorts the market. Reply

  5. Bob Kaufman says: March 21, 2018 at 12:30 pm

    I am responding to an article by you in today's The Automatic Earth about the vengeance of capitalism. I could not get the response area to work so that is why I am coming to you this way.

    You write eloquently and I see the creation of increasing suffering due to a form of capitalism and class privilege in America and globally. I have read and listened to Keen, Hudson and Kelton. From my review they all approach the ability of a nation that controls their own currency as an ability to create an unlimited amount of money to use to reduce human suffering with no discussion of the ultimate end game if we continue to do so.

    There is a lot of suffering now and because of climate change, increasing usurping of jobs by technology and global resource depletion and more a lot more suffering may be coming our way.

    How much money are they (and you) thinking of creating?

    What are the implications of creating money at a much more rapid pace than we have been with no upper limits in sight?

    What are the upper limits of money creation? How would we know?

    Our present system of capitalism and privilege is like a drug. It feels good at the start but kills us in the end,

    I am fearful that an addiction to the unlimited or substantial and on going use of money created from thin air will do the same.

    What say you?

    PS: Please accept with compassion all the typos that are probably in this note. Reply

    1. Dave says: March 28, 2018 at 4:46 am

      You keep forgetting that having the ability to create money also gives you the ability to destroy that same money. What is collected in tax revenue is destroyed. More money is issued to create infrastructure. The deficit in a country that can create it's own currency is really just a ratio of what is collected(destroyed) and what is created(spent).
      Now ask yourself what happens when you quit destroying money and keep right on creating it Reply

  6. Youri says: March 23, 2018 at 12:40 am

    great article Claire! love your articles at New Matilda by the way, and enjoyed your interview at Redacted Tonight and love Renegade INC at RT 🙂 Reply

  7. Cliff Cobb says: March 26, 2018 at 6:38 am

    The aim of distinguishing neoclassical and neolilberal is of merit. The interview with Mirowski makes clear, however, that that are numerous strands of neoliberalism that overlap with each other, with some drawing on neoclassical arguments, and others having a different starting point. But it is not clear to me that all of them agree on the market fundamentalism, which is generally regarded as the defining characteristic of neoliberalism. Was Joseph Schumpeter a neoliberal? His ideas about entrepreneurship have probably done more to make monopoly respectable than the parallel work of von Mises. Schumpeter's thought has entered the mainstream in the U.S. via Peter Drucker, who thought the modern corporation was the engine of all forms of human progress. In Germany, Ordo-liberalism was another form of neoliberalism that called for a strong state. Was this self-contradiction? What I find frustrating in most discussions on the Left of these thinkers is the inability or unwillingness to recognize the ***partial*** validity of their ideas. On the particular subject of government interference to protect against monopoly power, it was Gabriel Kolko, a socialist, who first showed in 1962 that Progressives were responsible for the national monopolies that emerged around 1900. Even now, progressives fail to comprehend the many ways in which regulation benefits big business and stifles small business. Designing regulations that do more social and environmental good than harm is much harder than most progressives seem to recognize. Analyzing the sociology and politics of neoliberal organizations, as Mirowski does, gets us no closer to finding way to create effective government programs that do not simultaneously feed the leviathan of an expansive state. I would very much like to know which heterodox economists are actually addressing the tough problems we face rather than defining the boundaries between neoclassical thought and their own domain.. Reply

  8. Chris Auld says: May 30, 2018 at 11:46 pm

    There are a very large number of errors in this piece. Fundamentally, what is described as "neoclassical economics" is actually just one model, Walras' circa 1870 general equilibrium model. If one defines neoclassical economics as equivalent to that one model, then there has never been a single neoclassical economist, as absolutely no one limits attention to that one model.

    The body of research most actual economists would describe as "neoclassical economics" encompasses an enormous body of work which posits that some social phenomena can be understood as emergent results of individual, intentional behavior. That research includes literally thousands of papers studying the phenomena the author wrongly believes are simply excluded by assumption, such as unemployment, unions, minimum wage laws, and imperfect information. There is an entire field, Public Economics, devoted to the study of "the role and purpose of government spending and taxation."

    The idea that government can and should "introduce instability-thwarting mechanisms to stabilize the economy, maintain full employment, and retain social equity" is also, contrary to the article's assumptions, very much part of mainstream, neoclassical thought, and has been for almost a century.

    After having implicitly defined mainstream economics as solely the study of a single 1870 model, the article then also misrepresents heterodox economics. Notably, the Marxian economist (less than 1% of all economists) such as Chang do not "reject the notion of general equilibrium". Marxian analysis is explicitly grounded in general equilibrium, both in Marx's work and in modern neo-Marxian form, and can be expressed in the same analytical framework as the Walrasian model (see for example: https://www.jstor.org/stable/1911113?seq=1#page_scan_tab_contents ).

    The article is correct that neoliberalism is a strain of political thought, and not economics at all: they're not even the same type of thing, much the same thing. That's all the article ought to say -- it gets everything about what economists think, and what neoclassical economics is, really, really wrong.

    Chris Auld
    Department of Economics
    University of Victoria Reply

    1. Steven says: May 31, 2018 at 12:24 pm

      Chris, your criticism is so misleading.

      Most though not all mainstream economics is neoclassical economics.

      Neoclassical economics is based on marginalism, or optimising behaviour, expected utility theory, and either implicit or explicit general equilibrium analysis. The economy, in the absence of frictions, would behave like a stable equilibrium system. In a macroeconomic sense, this is the basis of all versions of the neoclassical synthesis, including second generation dynamic stochastic general equilibrium models.

      These models all have Walrasian and Wicksellian roots. They all assume optimising behaviour. They always adopt the ergodic hypothesis and these days adopt rational expectations formation. Not only that, they have all been constructed in defiance of what we know about the history and nature of money; they all ignore ontological uncertainty, in the Keynesian sense; they all exclude genuinely endogenous financial instability and crisis; they are biased towards an essentially technological explanation of income distribution; they all incorporate a natural or non-accelerating inflation rate of unemployment; they all exhibit long run money neutrality; they all incorporate an efficient markets approach to financial markets.

      There are of course elements of what some would regard these days as mainstream economics which don't fit under the neoclassical banner. However, for the most part, mainstream = neoclassicism.

      The greatest divide between neoclassical economics and genuine (i.e. not 'new') institutional economics, is the F-twist of Milton Friedman – the notion that unrealistic axiomatic foundations in some sense don't matter, and neither does an approach which does not naturally incorporate realistic institutions.

      Of course, economists using a neoclassical frame have things to say about unemployment, minimum wages, etc. But, as Hyman Minsky put it, "The game of policy making is rigged; the theory used determines the questions that are asked and the options that are presented. The prince is constrained by the theory of his intellectuals."

      You accuse the author of errors, and I think you are ungenerous – and, more importantly – incorrect. My advice to you is to read Steve Keen's best-seller 'Debunking Economics'. You could even read my 'Economics for Sustainable Prosperity'. If you read these two books, you will be much more aware of the limitations of neoclassical economics, and the rich insights available from the many economists who have worked, and who are working today, outside the neoclassical frame. Reply

  9. Claire says: May 31, 2018 at 12:15 pm

    Hi Chris,

    I highly recommend reading this short piece by Professor Steven Keen:

    http://www.eastasiaforum.org/2009/05/30/why-neoclassical-economics-is-dead/ .

    Or this piece by Lars Syll: https://larspsyll.wordpress.com/2016/11/03/what-is-wrong-with-neoclassical-economics/ .

    Perhaps you will find them useful in understanding why it's questionable that neoclassical economics has anything useful to say about financial stability.

    Kind regards,

    Claire Reply

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[Mar 10, 2020] Neoliberalism has brought out the worst in us by Paul Verhaeghe

Highly recommended!
Neoliberalism destroys solidarity; as the result it destroys both the society and individuals
Notable quotes:
"... Thirty years of neoliberalism, free-market forces and privatisation have taken their toll, as relentless pressure to achieve has become normative. If you're reading this sceptically, I put this simple statement to you: meritocratic neoliberalism favours certain personality traits and penalises others. ..."
"... On top of all this, you are flexible and impulsive, always on the lookout for new stimuli and challenges. In practice, this leads to risky behaviour, but never mind, it won't be you who has to pick up the pieces. The source of inspiration for this list? The psychopathy checklist by Robert Hare , the best-known specialist on psychopathy today. ..."
"... the financial crisis illustrated at a macro-social level (for example, in the conflicts between eurozone countries) what a neoliberal meritocracy does to people. Solidarity becomes an expensive luxury and makes way for temporary alliances, the main preoccupation always being to extract more profit from the situation than your competition. Social ties with colleagues weaken, as does emotional commitment to the enterprise or organisation. ..."
"... Bullying used to be confined to schools; now it is a common feature of the workplace. This is a typical symptom of the impotent venting their frustration on the weak – in psychology it's known as displaced aggression. There is a buried sense of fear, ranging from performance anxiety to a broader social fear of the threatening other. ..."
"... Constant evaluations at work cause a decline in autonomy and a growing dependence on external, often shifting, norms ..."
"... More important, though, is the serious damage to people's self-respect. Self-respect largely depends on the recognition that we receive from the other, as thinkers from Hegel to Lacan have shown. Sennett comes to a similar conclusion when he sees the main question for employees these days as being "Who needs me?" For a growing group of people, the answer is: no one. ..."
"... A neoliberal meritocracy would have us believe that success depends on individual effort and talents, meaning responsibility lies entirely with the individual and authorities should give people as much freedom as possible to achieve this goal. ..."
"... the paradox of our era as: "Never have we been so free. Never have we felt so powerless." ..."
Sep 29, 2014 | www.theguardian.com

An economic system that rewards psychopathic personality traits has changed our ethics and our personalities

'We are forever told that we are freer to choose the course of our lives than ever before, but the freedom to choose outside the success narrative is limited.'

We tend to perceive our identities as stable and largely separate from outside forces. But over decades of research and therapeutic practice, I have become convinced that economic change is having a profound effect not only on our values but also on our personalities. Thirty years of neoliberalism, free-market forces and privatisation have taken their toll, as relentless pressure to achieve has become normative. If you're reading this sceptically, I put this simple statement to you: meritocratic neoliberalism favours certain personality traits and penalises others.

There are certain ideal characteristics needed to make a career today. The first is articulateness, the aim being to win over as many people as possible. Contact can be superficial, but since this applies to most human interaction nowadays, this won't really be noticed.

It's important to be able to talk up your own capacities as much as you can – you know a lot of people, you've got plenty of experience under your belt and you recently completed a major project. Later, people will find out that this was mostly hot air, but the fact that they were initially fooled is down to another personality trait: you can lie convincingly and feel little guilt. That's why you never take responsibility for your own behaviour.

On top of all this, you are flexible and impulsive, always on the lookout for new stimuli and challenges. In practice, this leads to risky behaviour, but never mind, it won't be you who has to pick up the pieces. The source of inspiration for this list? The psychopathy checklist by Robert Hare , the best-known specialist on psychopathy today.

This description is, of course, a caricature taken to extremes. Nevertheless, the financial crisis illustrated at a macro-social level (for example, in the conflicts between eurozone countries) what a neoliberal meritocracy does to people. Solidarity becomes an expensive luxury and makes way for temporary alliances, the main preoccupation always being to extract more profit from the situation than your competition. Social ties with colleagues weaken, as does emotional commitment to the enterprise or organisation.

Bullying used to be confined to schools; now it is a common feature of the workplace. This is a typical symptom of the impotent venting their frustration on the weak – in psychology it's known as displaced aggression. There is a buried sense of fear, ranging from performance anxiety to a broader social fear of the threatening other.

Constant evaluations at work cause a decline in autonomy and a growing dependence on external, often shifting, norms. This results in what the sociologist Richard Sennett has aptly described as the "infantilisation of the workers". Adults display childish outbursts of temper and are jealous about trivialities ("She got a new office chair and I didn't"), tell white lies, resort to deceit, delight in the downfall of others and cherish petty feelings of revenge. This is the consequence of a system that prevents people from thinking independently and that fails to treat employees as adults.

More important, though, is the serious damage to people's self-respect. Self-respect largely depends on the recognition that we receive from the other, as thinkers from Hegel to Lacan have shown. Sennett comes to a similar conclusion when he sees the main question for employees these days as being "Who needs me?" For a growing group of people, the answer is: no one.

Our society constantly proclaims that anyone can make it if they just try hard enough, all the while reinforcing privilege and putting increasing pressure on its overstretched and exhausted citizens. An increasing number of people fail, feeling humiliated, guilty and ashamed. We are forever told that we are freer to choose the course of our lives than ever before, but the freedom to choose outside the success narrative is limited. Furthermore, those who fail are deemed to be losers or scroungers, taking advantage of our social security system.

A neoliberal meritocracy would have us believe that success depends on individual effort and talents, meaning responsibility lies entirely with the individual and authorities should give people as much freedom as possible to achieve this goal. For those who believe in the fairytale of unrestricted choice, self-government and self-management are the pre-eminent political messages, especially if they appear to promise freedom. Along with the idea of the perfectible individual, the freedom we perceive ourselves as having in the west is the greatest untruth of this day and age.

The sociologist Zygmunt Bauman neatly summarised the paradox of our era as: "Never have we been so free. Never have we felt so powerless." We are indeed freer than before, in the sense that we can criticise religion, take advantage of the new laissez-faire attitude to sex and support any political movement we like. We can do all these things because they no longer have any significance – freedom of this kind is prompted by indifference. Yet, on the other hand, our daily lives have become a constant battle against a bureaucracy that would make Kafka weak at the knees. There are regulations about everything, from the salt content of bread to urban poultry-keeping.

Our presumed freedom is tied to one central condition: we must be successful – that is, "make" something of ourselves. You don't need to look far for examples. A highly skilled individual who puts parenting before their career comes in for criticism. A person with a good job who turns down a promotion to invest more time in other things is seen as crazy – unless those other things ensure success. A young woman who wants to become a primary school teacher is told by her parents that she should start off by getting a master's degree in economics – a primary school teacher, whatever can she be thinking of?

There are constant laments about the so-called loss of norms and values in our culture. Yet our norms and values make up an integral and essential part of our identity. So they cannot be lost, only changed. And that is precisely what has happened: a changed economy reflects changed ethics and brings about changed identity. The current economic system is bringing out the worst in us.

Psychology Work & careers Economics Economic policy

See also

[Mar 10, 2020] Neoliberalism the ideology at the root of all our problems by George Monbiot

Highly recommended!
Under neoliberalism inequality is recast as virtuous. The market ensures that everyone gets what they deserve: Neoliberalism sees competition as the defining characteristic of human relations and redefines citizens as consumers
Notable quotes:
"... Imagine if the people of the Soviet Union had never heard of communism. The ideology that dominates our lives has, for most of us, no name. Mention it in conversation and you'll be rewarded with a shrug. Even if your listeners have heard the term before, they will struggle to define it. Neoliberalism: do you know what it is? ..."
"... Its anonymity is both a symptom and cause of its power. It has played a major role in a remarkable variety of crises: the financial meltdown of 2007‑8, the offshoring of wealth and power, of which the Panama Papers offer us merely a glimpse, the slow collapse of public health and education, resurgent child poverty, the epidemic of loneliness , the collapse of ecosystems, the rise of Donald Trump . ..."
"... Inequality is recast as virtuous. The market ensures that everyone gets what they deserve. ..."
"... Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that "the market" delivers benefits that could never be achieved by planning. ..."
"... We internalise and reproduce its creeds. The rich persuade themselves that they acquired their wealth through merit, ignoring the advantages – such as education, inheritance and class – that may have helped to secure it. The poor begin to blame themselves for their failures, even when they can do little to change their circumstances. ..."
"... Never mind structural unemployment: if you don't have a job it's because you are unenterprising. Never mind the impossible costs of housing: if your credit card is maxed out, you're feckless and improvident. Never mind that your children no longer have a school playing field: if they get fat, it's your fault. In a world governed by competition, those who fall behind become defined and self-defined as losers. ..."
"... Among the results, as Paul Verhaeghe documents in his book What About Me? are epidemics of self-harm, eating disorders, depression, loneliness, performance anxiety and social phobia. ..."
"... It may seem strange that a doctrine promising choice should have been promoted with the slogan 'there is no alternative' ..."
"... Where neoliberal policies cannot be imposed domestically, they are imposed internationally, through trade treaties incorporating " investor-state dispute settlement ": offshore tribunals in which corporations can press for the removal of social and environmental protections. When parliaments have voted to restrict sales of cigarettes , protect water supplies from mining companies, freeze energy bills or prevent pharmaceutical firms from ripping off the state, corporations have sued, often successfully. Democracy is reduced to theatre. ..."
"... Neoliberalism was not conceived as a self-serving racket, but it rapidly became one ..."
"... Another paradox of neoliberalism is that universal competition relies upon universal quantification and comparison. The result is that workers, job-seekers and public services of every kind are subject to a pettifogging, stifling regime of assessment and monitoring, designed to identify the winners and punish the losers. The doctrine that Von Mises proposed would free us from the bureaucratic nightmare of central planning has instead created one. ..."
"... When you pay an inflated price for a train ticket, only part of the fare compensates the operators for the money they spend on fuel, wages, rolling stock and other outlays. The rest reflects the fact that they have you over a barrel . ..."
"... Those who own and run the UK's privatised or semi-privatised services make stupendous fortunes by investing little and charging much. In Russia and India, oligarchs acquired state assets through firesales. In Mexico, Carlos Slim was granted control of almost all landline and mobile phone services and soon became the world's richest man. ..."
"... Financialisation, as Andrew Sayer notes in Why We Can't Afford the Rich , has had a similar impact. "Like rent," he argues, "interest is ... unearned income that accrues without any effort". ..."
"... Chris Hedges remarks that "fascist movements build their base not from the politically active but the politically inactive, the 'losers' who feel, often correctly, they have no voice or role to play in the political establishment". When political debate no longer speaks to us, people become responsive instead to slogans, symbols and sensation . To the admirers of Trump, for example, facts and arguments appear irrelevant. ..."
"... Like communism, neoliberalism is the God that failed. But the zombie doctrine staggers on, and one of the reasons is its anonymity. Or rather, a cluster of anonymities. ..."
"... The invisible doctrine of the invisible hand is promoted by invisible backers. Slowly, very slowly, we have begun to discover the names of a few of them. We find that the Institute of Economic Affairs, which has argued forcefully in the media against the further regulation of the tobacco industry, has been secretly funded by British American Tobacco since 1963. We discover that Charles and David Koch , two of the richest men in the world, founded the institute that set up the Tea Party movement . We find that Charles Koch, in establishing one of his thinktanks, noted that "in order to avoid undesirable criticism, how the organisation is controlled and directed should not be widely advertised". ..."
"... The anonymity of neoliberalism is fiercely guarded. ..."
"... Neoliberalism's triumph also reflects the failure of the left. When laissez-faire economics led to catastrophe in 1929, Keynes devised a comprehensive economic theory to replace it. When Keynesian demand management hit the buffers in the 70s, there was an alternative ready. But when neoliberalism fell apart in 2008 there was ... nothing. This is why the zombie walks. The left and centre have produced no new general framework of economic thought for 80 years. ..."
"... What the history of both Keynesianism and neoliberalism show is that it's not enough to oppose a broken system. A coherent alternative has to be proposed. For Labour, the Democrats and the wider left, the central task should be to develop an economic Apollo programme, a conscious attempt to design a new system, tailored to the demands of the 21st century. ..."
Apr 16, 2016 | www.theguardian.com

Financial meltdown, environmental disaster and even the rise of Donald Trump – neoliberalism has played its part in them all. Why has the left failed to come up with an alternative? @GeorgeMonbiot

Imagine if the people of the Soviet Union had never heard of communism. The ideology that dominates our lives has, for most of us, no name. Mention it in conversation and you'll be rewarded with a shrug. Even if your listeners have heard the term before, they will struggle to define it. Neoliberalism: do you know what it is?

Its anonymity is both a symptom and cause of its power. It has played a major role in a remarkable variety of crises: the financial meltdown of 2007‑8, the offshoring of wealth and power, of which the Panama Papers offer us merely a glimpse, the slow collapse of public health and education, resurgent child poverty, the epidemic of loneliness , the collapse of ecosystems, the rise of Donald Trump . But we respond to these crises as if they emerge in isolation, apparently unaware that they have all been either catalysed or exacerbated by the same coherent philosophy; a philosophy that has – or had – a name. What greater power can there be than to operate namelessly?

Inequality is recast as virtuous. The market ensures that everyone gets what they deserve.

So pervasive has neoliberalism become that we seldom even recognise it as an ideology. We appear to accept the proposition that this utopian, millenarian faith describes a neutral force; a kind of biological law, like Darwin's theory of evolution. But the philosophy arose as a conscious attempt to reshape human life and shift the locus of power.

Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that "the market" delivers benefits that could never be achieved by planning.

Attempts to limit competition are treated as inimical to liberty. Tax and regulation should be minimised, public services should be privatised. The organisation of labour and collective bargaining by trade unions are portrayed as market distortions that impede the formation of a natural hierarchy of winners and losers. Inequality is recast as virtuous: a reward for utility and a generator of wealth, which trickles down to enrich everyone. Efforts to create a more equal society are both counterproductive and morally corrosive. The market ensures that everyone gets what they deserve.

We internalise and reproduce its creeds. The rich persuade themselves that they acquired their wealth through merit, ignoring the advantages – such as education, inheritance and class – that may have helped to secure it. The poor begin to blame themselves for their failures, even when they can do little to change their circumstances.

Never mind structural unemployment: if you don't have a job it's because you are unenterprising. Never mind the impossible costs of housing: if your credit card is maxed out, you're feckless and improvident. Never mind that your children no longer have a school playing field: if they get fat, it's your fault. In a world governed by competition, those who fall behind become defined and self-defined as losers.

See also Neoliberalism has brought out the worst in us by Paul Verhaeghe, Sep 24, 2014

Among the results, as Paul Verhaeghe documents in his book What About Me? are epidemics of self-harm, eating disorders, depression, loneliness, performance anxiety and social phobia. Perhaps it's unsurprising that Britain, in which neoliberal ideology has been most rigorously applied, is the loneliness capital of Europe . We are all neoliberals now.

***

The term neoliberalism was coined at a meeting in Paris in 1938. Among the delegates were two men who came to define the ideology, Ludwig von Mises and Friedrich Hayek. Both exiles from Austria, they saw social democracy, exemplified by Franklin Roosevelt's New Deal and the gradual development of Britain's welfare state, as manifestations of a collectivism that occupied the same spectrum as nazism and communism.

In The Road to Serfdom , published in 1944, Hayek argued that government planning, by crushing individualism, would lead inexorably to totalitarian control. Like Mises's book Bureaucracy , The Road to Serfdom was widely read. It came to the attention of some very wealthy people, who saw in the philosophy an opportunity to free themselves from regulation and tax. When, in 1947, Hayek founded the first organisation that would spread the doctrine of neoliberalism – the Mont Pelerin Society – it was supported financially by millionaires and their foundations.

With their help, he began to create what Daniel Stedman Jones describes in Masters of the Universe as "a kind of neoliberal international": a transatlantic network of academics, businessmen, journalists and activists. The movement's rich backers funded a series of thinktanks which would refine and promote the ideology. Among them were the American Enterprise Institute , the Heritage Foundation , the Cato Institute , the Institute of Economic Affairs , the Centre for Policy Studies and the Adam Smith Institute . They also financed academic positions and departments, particularly at the universities of Chicago and Virginia.

As it evolved, neoliberalism became more strident. Hayek's view that governments should regulate competition to prevent monopolies from forming gave way – among American apostles such as Milton Friedman – to the belief that monopoly power could be seen as a reward for efficiency.

Something else happened during this transition: the movement lost its name. In 1951, Friedman was happy to describe himself as a neoliberal . But soon after that, the term began to disappear. Stranger still, even as the ideology became crisper and the movement more coherent, the lost name was not replaced by any common alternative.

At first, despite its lavish funding, neoliberalism remained at the margins. The postwar consensus was almost universal: John Maynard Keynes 's economic prescriptions were widely applied, full employment and the relief of poverty were common goals in the US and much of western Europe, top rates of tax were high and governments sought social outcomes without embarrassment, developing new public services and safety nets.

But in the 1970s, when Keynesian policies began to fall apart and economic crises struck on both sides of the Atlantic, neoliberal ideas began to enter the mainstream. As Friedman remarked, "when the time came that you had to change ... there was an alternative ready there to be picked up". With the help of sympathetic journalists and political advisers, elements of neoliberalism, especially its prescriptions for monetary policy, were adopted by Jimmy Carter's administration in the US and Jim Callaghan's government in Britain.

It may seem strange that a doctrine promising choice should have been promoted with the slogan 'there is no alternative'

After Margaret Thatcher and Ronald Reagan took power, the rest of the package soon followed: massive tax cuts for the rich, the crushing of trade unions, deregulation, privatisation, outsourcing and competition in public services. Through the IMF, the World Bank, the Maastricht treaty and the World Trade Organisation, neoliberal policies were imposed – often without democratic consent – on much of the world. Most remarkable was its adoption among parties that once belonged to the left: Labour and the Democrats, for example. As Stedman Jones notes, "it is hard to think of another utopia to have been as fully realised."

***

It may seem strange that a doctrine promising choice and freedom should have been promoted with the slogan "there is no alternative". But, as Hayek remarked on a visit to Pinochet's Chile – one of the first nations in which the programme was comprehensively applied – "my personal preference leans toward a liberal dictatorship rather than toward a democratic government devoid of liberalism". The freedom that neoliberalism offers, which sounds so beguiling when expressed in general terms, turns out to mean freedom for the pike, not for the minnows.

Freedom from trade unions and collective bargaining means the freedom to suppress wages. Freedom from regulation means the freedom to poison rivers , endanger workers, charge iniquitous rates of interest and design exotic financial instruments. Freedom from tax means freedom from the distribution of wealth that lifts people out of poverty.

Facebook Twitter Pinterest Naomi Klein documented that neoliberals advocated the use of crises to impose unpopular policies while people were distracted. Photograph: Anya Chibis/The Guardian

As Naomi Klein documents in The Shock Doctrine , neoliberal theorists advocated the use of crises to impose unpopular policies while people were distracted: for example, in the aftermath of Pinochet's coup, the Iraq war and Hurricane Katrina, which Friedman described as "an opportunity to radically reform the educational system" in New Orleans .

Where neoliberal policies cannot be imposed domestically, they are imposed internationally, through trade treaties incorporating " investor-state dispute settlement ": offshore tribunals in which corporations can press for the removal of social and environmental protections. When parliaments have voted to restrict sales of cigarettes , protect water supplies from mining companies, freeze energy bills or prevent pharmaceutical firms from ripping off the state, corporations have sued, often successfully. Democracy is reduced to theatre.

Neoliberalism was not conceived as a self-serving racket, but it rapidly became one

Another paradox of neoliberalism is that universal competition relies upon universal quantification and comparison. The result is that workers, job-seekers and public services of every kind are subject to a pettifogging, stifling regime of assessment and monitoring, designed to identify the winners and punish the losers. The doctrine that Von Mises proposed would free us from the bureaucratic nightmare of central planning has instead created one.

Neoliberalism was not conceived as a self-serving racket, but it rapidly became one. Economic growth has been markedly slower in the neoliberal era (since 1980 in Britain and the US) than it was in the preceding decades; but not for the very rich. Inequality in the distribution of both income and wealth, after 60 years of decline, rose rapidly in this era, due to the smashing of trade unions, tax reductions, rising rents, privatisation and deregulation.

The privatisation or marketisation of public services such as energy, water, trains, health, education, roads and prisons has enabled corporations to set up tollbooths in front of essential assets and charge rent, either to citizens or to government, for their use. Rent is another term for unearned income. When you pay an inflated price for a train ticket, only part of the fare compensates the operators for the money they spend on fuel, wages, rolling stock and other outlays. The rest reflects the fact that they have you over a barrel .

In Mexico, Carlos Slim was granted control of almost all phone services and soon became the world's richest man. Photograph: Henry Romero/Reuters

Those who own and run the UK's privatised or semi-privatised services make stupendous fortunes by investing little and charging much. In Russia and India, oligarchs acquired state assets through firesales. In Mexico, Carlos Slim was granted control of almost all landline and mobile phone services and soon became the world's richest man.

Financialisation, as Andrew Sayer notes in Why We Can't Afford the Rich , has had a similar impact. "Like rent," he argues, "interest is ... unearned income that accrues without any effort". As the poor become poorer and the rich become richer, the rich acquire increasing control over another crucial asset: money. Interest payments, overwhelmingly, are a transfer of money from the poor to the rich. As property prices and the withdrawal of state funding load people with debt (think of the switch from student grants to student loans), the banks and their executives clean up.

Sayer argues that the past four decades have been characterised by a transfer of wealth not only from the poor to the rich, but within the ranks of the wealthy: from those who make their money by producing new goods or services to those who make their money by controlling existing assets and harvesting rent, interest or capital gains. Earned income has been supplanted by unearned income.

Neoliberal policies are everywhere beset by market failures. Not only are the banks too big to fail, but so are the corporations now charged with delivering public services. As Tony Judt pointed out in Ill Fares the Land , Hayek forgot that vital national services cannot be allowed to collapse, which means that competition cannot run its course. Business takes the profits, the state keeps the risk.

The greater the failure, the more extreme the ideology becomes. Governments use neoliberal crises as both excuse and opportunity to cut taxes, privatise remaining public services, rip holes in the social safety net, deregulate corporations and re-regulate citizens. The self-hating state now sinks its teeth into every organ of the public sector.

Perhaps the most dangerous impact of neoliberalism is not the economic crises it has caused, but the political crisis. As the domain of the state is reduced, our ability to change the course of our lives through voting also contracts. Instead, neoliberal theory asserts, people can exercise choice through spending. But some have more to spend than others: in the great consumer or shareholder democracy, votes are not equally distributed. The result is a disempowerment of the poor and middle. As parties of the right and former left adopt similar neoliberal policies, disempowerment turns to disenfranchisement. Large numbers of people have been shed from politics.

Chris Hedges remarks that "fascist movements build their base not from the politically active but the politically inactive, the 'losers' who feel, often correctly, they have no voice or role to play in the political establishment". When political debate no longer speaks to us, people become responsive instead to slogans, symbols and sensation . To the admirers of Trump, for example, facts and arguments appear irrelevant.

Judt explained that when the thick mesh of interactions between people and the state has been reduced to nothing but authority and obedience, the only remaining force that binds us is state power. The totalitarianism Hayek feared is more likely to emerge when governments, having lost the moral authority that arises from the delivery of public services, are reduced to "cajoling, threatening and ultimately coercing people to obey them".

***

Like communism, neoliberalism is the God that failed. But the zombie doctrine staggers on, and one of the reasons is its anonymity. Or rather, a cluster of anonymities.

The invisible doctrine of the invisible hand is promoted by invisible backers. Slowly, very slowly, we have begun to discover the names of a few of them. We find that the Institute of Economic Affairs, which has argued forcefully in the media against the further regulation of the tobacco industry, has been secretly funded by British American Tobacco since 1963. We discover that Charles and David Koch , two of the richest men in the world, founded the institute that set up the Tea Party movement . We find that Charles Koch, in establishing one of his thinktanks, noted that "in order to avoid undesirable criticism, how the organisation is controlled and directed should not be widely advertised".

The nouveau riche were once disparaged by those who had inherited their money. Today, the relationship has been reversed

The words used by neoliberalism often conceal more than they elucidate. "The market" sounds like a natural system that might bear upon us equally, like gravity or atmospheric pressure. But it is fraught with power relations. What "the market wants" tends to mean what corporations and their bosses want. "Investment", as Sayer notes, means two quite different things. One is the funding of productive and socially useful activities, the other is the purchase of existing assets to milk them for rent, interest, dividends and capital gains. Using the same word for different activities "camouflages the sources of wealth", leading us to confuse wealth extraction with wealth creation.

A century ago, the nouveau riche were disparaged by those who had inherited their money. Entrepreneurs sought social acceptance by passing themselves off as rentiers. Today, the relationship has been reversed: the rentiers and inheritors style themselves entre preneurs. They claim to have earned their unearned income.

These anonymities and confusions mesh with the namelessness and placelessness of modern capitalism: the franchise model which ensures that workers do not know for whom they toil ; the companies registered through a network of offshore secrecy regimes so complex that even the police cannot discover the beneficial owners ; the tax arrangements that bamboozle governments; the financial products no one understands.

The anonymity of neoliberalism is fiercely guarded. Those who are influenced by Hayek, Mises and Friedman tend to reject the term, maintaining – with some justice – that it is used today only pejoratively . But they offer us no substitute. Some describe themselves as classical liberals or libertarians, but these descriptions are both misleading and curiously self-effacing, as they suggest that there is nothing novel about The Road to Serfdom , Bureaucracy or Friedman's classic work, Capitalism and Freedom .

***

For all that, there is something admirable about the neoliberal project, at least in its early stages. It was a distinctive, innovative philosophy promoted by a coherent network of thinkers and activists with a clear plan of action. It was patient and persistent. The Road to Serfdom became the path to power.

Neoliberalism, Locke and the Green party | Letters Read more

Neoliberalism's triumph also reflects the failure of the left. When laissez-faire economics led to catastrophe in 1929, Keynes devised a comprehensive economic theory to replace it. When Keynesian demand management hit the buffers in the 70s, there was an alternative ready. But when neoliberalism fell apart in 2008 there was ... nothing. This is why the zombie walks. The left and centre have produced no new general framework of economic thought for 80 years.

Every invocation of Lord Keynes is an admission of failure. To propose Keynesian solutions to the crises of the 21st century is to ignore three obvious problems. It is hard to mobilise people around old ideas; the flaws exposed in the 70s have not gone away; and, most importantly, they have nothing to say about our gravest predicament: the environmental crisis. Keynesianism works by stimulating consumer demand to promote economic growth. Consumer demand and economic growth are the motors of environmental destruction.

What the history of both Keynesianism and neoliberalism show is that it's not enough to oppose a broken system. A coherent alternative has to be proposed. For Labour, the Democrats and the wider left, the central task should be to develop an economic Apollo programme, a conscious attempt to design a new system, tailored to the demands of the 21st century.

George Monbiot's How Did We Get into This Mess? is published this month by Verso. To order a copy for £12.99 (RRP £16.99) ) go to bookshop.theguardian.com or call 0330 333 6846. Free UK p&p over £10, online orders only. Phone orders min p&p of £1.99.

Topics Economics

[Mar 10, 2020] The Bankruptcy of the American Left by Chris Hedges

Highly recommended!
Notable quotes:
"... Corporate capitalism is supranational . It owes no loyalty to any nation-state. It uses the projection of military power by the United States to protect and advance its economic interests but at the same time cannibalizes the U.S., dismantling its democratic institutions, allowing its infrastructure to decay and deindustrializing its factory centers to ship manufacturing abroad to regions where workers are treated as serfs. ..."
"... Resistance to this global cabal of corporate oligarchs must also be supranational. It must build alliances with workers around the globe. It must defy the liberal institutions, including the Democratic Party, which betray workers. It is this betrayal that has given rise to fascist and protofascist movements in Europe and other countries ..."
"... Capitalism, at its core, is about the commodification of human beings and the natural world for exploitation and profit. To increase profit, it constantly seeks to reduce the cost of labor and demolish the regulations and laws that protect the common good. But as capitalism ravages the social fabric, it damages, like any parasite, the host that allows it to exist. It unleashes dark, uncontrollable yearnings among an enraged population that threaten capitalism itself. ..."
"... "We live in a global economy, highly interconnected," North went on. "A globalized process of production, financial system. The ruling class has an international policy. They organize themselves on an international scale. The labor movement has remained organized on a national basis. It has been completely incapable of answering this [ruling-class policy]. Therefore, it falls behind various national protectionist programs. The trade unions support Trump." ..."
"... "How many times can you turn on a mainstream news like CNN and expect to hear the word 'capitalism' discussed? Bernie [Sanders] did one thing. He called himself a democratic socialist , which was a bit transformational simply in terms of rhetoric. He's saying there's something other than capitalism that we ought to be talking about." ..."
"... When feminism was turned into that kind of leaning in, it created an identity politics that legitimizes the very system that needs to be critiqued. The early feminists were overtly socialists. As was [Martin Luther] King. But all that got erased." ..."
"... "The left became a kind of grab bag of discrete, siloed identity movements," Derber said. "This is very connected to moral purity. You're concerned about your advancement within the existing system. You're competing against others within the existing system. Everyone else has privilege. You're just concerned about getting your fair share." ..."
"... "Identity politics is to a large degree a right-wing discourse," Derber said. "It focuses on tribalism tied in modern times to nationalism, which is always militaristic. When you break the left into these siloed identity politics, which are not contextualized, you easily get into this dogmatic fundamentalism. The identity politics of the left reproduces the worse sociopathic features of the system as a whole. It's scary." ..."
Feb 05, 2018 | www.truthdig.com

There will be no economic or political justice for the poor, people of color, women or workers within the framework of global, corporate capitalism. Corporate capitalism, which uses identity politics , multiculturalism and racial justice to masquerade as politics, will never halt the rising social inequality, unchecked militarism, evisceration of civil liberties and omnipotence of the organs of security and surveillance. Corporate capitalism cannot be reformed, despite its continually rebranding itself. The longer the self-identified left and liberal class seek to work within a system that the political philosopher Sheldon Wolin calls " inverted totalitarianism ," the more the noose will be tightened around our necks. If we do not rise up to bring government and financial systems under public control -- which includes nationalizing banks, the fossil fuel industry and the arms industry -- we will continue to be victims.

Corporate capitalism is supranational . It owes no loyalty to any nation-state. It uses the projection of military power by the United States to protect and advance its economic interests but at the same time cannibalizes the U.S., dismantling its democratic institutions, allowing its infrastructure to decay and deindustrializing its factory centers to ship manufacturing abroad to regions where workers are treated as serfs.

Resistance to this global cabal of corporate oligarchs must also be supranational. It must build alliances with workers around the globe. It must defy the liberal institutions, including the Democratic Party, which betray workers. It is this betrayal that has given rise to fascist and protofascist movements in Europe and other countries. Donald Trump would never have been elected but for this betrayal. We will build a global movement powerful enough to bring down corporate capitalism or witness the rise of a new, supranational totalitarianism.

The left, seduced by the culture wars and identity politics, largely ignores the primacy of capitalism and the class struggle. As long as unregulated capitalism reigns supreme, all social, economic, cultural and political change will be cosmetic. Capitalism, at its core, is about the commodification of human beings and the natural world for exploitation and profit. To increase profit, it constantly seeks to reduce the cost of labor and demolish the regulations and laws that protect the common good. But as capitalism ravages the social fabric, it damages, like any parasite, the host that allows it to exist. It unleashes dark, uncontrollable yearnings among an enraged population that threaten capitalism itself.

"This is a crisis of global dimensions," David North , the national chairman of the Socialist Equality Party in the United States, told me when we spoke in New York. "It is a crisis that dominates every element of American politics. The response that we're seeing, the astonishing changes in the state of the government, in the decay of political life, the astonishingly low level of political and intellectual discourse, is in a certain sense an expression of the bewilderment of the ruling elite to what it's going through."

"We can expect a monumental explosion of class struggle in the United States," he said. "I think this country is a social powder keg. There is an anger that exists over working conditions and social inequality. However [much] they may be confused on many questions, workers in this country have a deep belief in democratic rights. We totally reject the narrative that the working class is racist. I think this has been the narrative pushed by the pseudo-left, middle-class groups who are drunk on identity politics, which have a vested interest in constantly distracting people from the essential class differences that exist in the society. Dividing everyone up on the basis of race, gender, sexual preference fails to address the major problem."

North argues, correctly, that capitalism by its nature lurches from crisis to crisis. This makes our current predicament similar to past crises.

"All the unanswered questions of the 20th century -- the basic problem of the nation-state system, the reactionary character of private ownership with the means of production, corporate power, all of these issues which led to the first and Second world wars -- are with us again, and add to that fascism," he said.

"We live in a global economy, highly interconnected," North went on. "A globalized process of production, financial system. The ruling class has an international policy. They organize themselves on an international scale. The labor movement has remained organized on a national basis. It has been completely incapable of answering this [ruling-class policy]. Therefore, it falls behind various national protectionist programs. The trade unions support Trump."

The sociologist Charles Derber , whom I also spoke with in New York, agrees.

"We don't really have a left because we don't have conversations about capitalism," Derber said. "How many times can you turn on a mainstream news like CNN and expect to hear the word 'capitalism' discussed? Bernie [Sanders] did one thing. He called himself a democratic socialist , which was a bit transformational simply in terms of rhetoric. He's saying there's something other than capitalism that we ought to be talking about."

"As the [capitalist] system universalizes and becomes more and more intersectional, we need intersectional resistance," Derber said. "At the end of the 1960s, when I was getting my own political education, the universalizing dimensions of the left, which was growing in the '60s, fell apart. The women began to feel their issues were not being addressed. They were treated badly by white males, student leaders. Blacks, Panthers, began to feel the whites could not speak for race issues. They developed separate organizations. The upshot was the left lost its universalizing character. It no longer dealt with the intersection of all these issues within the context of a militarized, capitalist, hegemonic American empire. It treated politics as siloed group identity problems. Women had glass ceilings. Same with blacks. Same with gays."

The loss of this intersectionality was deadly. Instead of focusing on the plight of all of the oppressed, oppressed groups began to seek representation for their own members within capitalist structures.

"Let's take a modern version of this," Derber said. " Sheryl Sandberg , the COO of Facebook, she did a third-wave feminism thing. She said 'lean in.' It captures this identity politics that has become toxic on the left. What does 'lean in' mean? It means women should lean in and go as far as they can in the corporation. They should become, as she has, a major, wealthy executive of a leading corporation. When feminism was turned into that kind of leaning in, it created an identity politics that legitimizes the very system that needs to be critiqued. The early feminists were overtly socialists. As was [Martin Luther] King. But all that got erased."

"The left became a kind of grab bag of discrete, siloed identity movements," Derber said. "This is very connected to moral purity. You're concerned about your advancement within the existing system. You're competing against others within the existing system. Everyone else has privilege. You're just concerned about getting your fair share."

"People in movements are products of the system they're fighting," he continued. "We're all raised in a capitalistic, individualistic, egoistic culture, so it's not surprising. And it has to be consciously recognized and struggled against. Everybody in movements has been brought up in systems they're repulsed by. This has created a structural transformation of the left. The left offers no broad critique of the political economy of capitalism. It's largely an identity-politics party. It focuses on reforms for blacks and women and so forth. But it doesn't offer a contextual analysis within capitalism."

Derber, like North, argues that the left's myopic, siloed politics paved the way for right-wing, nativist, protofascist movements around the globe as well as the ascendancy of Trump.

"When you bring politics down to simply about helping your group get a piece of the pie, you lose that systemic analysis," he said. "You're fragmented. You don't have natural connections or solidarity with other groups. You don't see the larger systemic context. By saying I want, as a gay person, to fight in the military, in a funny way you're legitimating the American empire. If you were living in Nazi Germany, would you say I want the right of a gay person to fight in combat with the Nazi soldiers?"

"I don't want to say we should eliminate all identity politics," he said. "But any identity politics has to be done within the framework of understanding the larger political economy. That's been stripped away and erased. Even on the left, you cannot find a deep conversation about capitalism and militarized capitalism. It's just been erased. That's why Trump came in. He unified a kind of very powerful right-wing identity politics built around nationalism, militarism and the exceptionalism of the American empire."

"Identity politics is to a large degree a right-wing discourse," Derber said. "It focuses on tribalism tied in modern times to nationalism, which is always militaristic. When you break the left into these siloed identity politics, which are not contextualized, you easily get into this dogmatic fundamentalism. The identity politics of the left reproduces the worse sociopathic features of the system as a whole. It's scary."

"How much of the left," he asked, "is reproducing what we are seeing in the society that we're fighting?"

[Mar 09, 2020] One day, Americans will fully understand , with horrible consequences, that not every single human transaction must revolve around making a few people obscenely rich

Mar 09, 2020 | www.unz.com

TKK , says: Show Comment March 9, 2020 at 5:06 pm GMT

@Commentator Mike In America, you are on your own.

At international arrivals in Atlanta, the overwhelmingly black TSA staff are not taking temps by infrared or taking any pro active measures. If they are, it was hidden from me. It seems- obtuse- to constantly harp on the catastrophe that is AA hires- but there it is.

Its the busiest airport in the world, BTW.

A sinister side note; Delta offered me an $83 upgrade for first class when I went in to delay another trip. It's a $6000 ticket to fly first class. My total would have been a little over $500. Dangling the carrot as everyone cancels.

One day, Americans will fully understand , with horrible consequences, that not every single human transaction must revolve around making a few people obscenely rich.

[Mar 09, 2020] The Politics of Privatization How Neoliberalism Took Over US Politics by Brett Heinz

Highly recommended!
Sep 08, 2017 | www.faireconomy.org

Many of us have come across the term "neoliberal," or "neoliberalism" before, but for all its use, few have ever taken the chance to actually explain what it is. An inadequate popular definition has allowed the term to be abused and misrepresented in a variety of ways. Despite these misrepresentations, however, "neoliberalism" is a concept that is very useful for understanding the world we live in today.

In simple terms, neoliberalism is a broad ideology that became popular in political, economic, and governmental circles in the 1970's and reached its peak in global popularity in the 1980's. Neoliberalism describes the political paradigm we are in right now, the political conditions of modern society . As the name suggests, it calls for a revitalization of the classical liberal view of economic policy. It's important to understand that "classical liberal" here refers to an older understanding of the word liberal than the one it has in modern America- it is referencing the liberalism of the Enlightenment era, represented by thinkers like Adam Smith and John Locke, not modern social liberalism as embodied by Barack Obama and much of the rest of the Democratic Party. In concrete policy terms, neoliberalism means free trade, low taxes, deregulation, privatization, and balanced budgets.

Neoliberalism represents a shift in the way we look at the world: it entails seeing every aspect of society, even those typically considered civic or community affairs, in the terms of the market economy.

"Stagflation" & Schools of Economic Thought

Neoliberalism emerged as a reaction to welfare state politics and Keynesian economics that had become popular in the West following the end of World War II.

What is Keynesian Economics? Two major schools of economic thought are Classical Economics and Keynesian Economics. Adam Smith's (1723-1790) theory of Classical Economics asserts that the market is a rapidly-adjusting, self-correcting entity. John Maynard Keynes (1883-1946) believed that Classical Economics was flawed. If classical economics were true, Keyes asserted, waves of massive unemployment wouldn't exist, as the market would quickly self-adjust for the downturn. Keynes theorized that during an economic downturn, consumer demand tended to drop, causing employers to lay off employees, which would then decrease overall consumer demand, and the cycle would continue. Keynes concluded that in periods of economic downturn, government could manipulate demand by hiring, directly or through policy, unemployed workers and break the cycle.

Following a long period of significant prosperity, the 1970's brought with it a phenomenon known as "stagflation" - simultaneous stagnation (where worker wages are kept flat) and inflation (where the cost of living rises). Keynesians, who had been the dominant group in American economics at the time, believed it was impossible for stagflation to exist for any extended period of time.

As the Keynesians tried to make sense of economic realities of the day, a new wave of economists began to create other schools of thought. Milton Friedman (known as "the Chicago School" or "monetarists") made the case not only for a different approach to monetary policy in order to solve stagflation, but also for the idea that many forms of governmental involvement in the economy are in fact harmful. Others, like James Buchanan pioneered a field known as "public choice theory," which made the case to the economics profession that government bureaucrats acted in personal self-interest, not in the public interest, and thus that policy prescriptions should be much more cautious in calling for governmental solutions to economic issues.

Activist Business

At the same time as the intellectual environment began to shift toward the political right in economics, the business community also began to be more aggressive in asserting their interests in politics. This development was prompted in part by soon-to-be Supreme Court Justice Lewis F. Powell, Jr. writing a memo to the U.S. Chamber of Commerce in 1971, arguing that "the American economic system is under attack" from progressive critics of big business and that the business community should fight back. A number of conservative and libertarian think tanks and advocacy organizations were created and expanded during this period in order to make the intellectual case for "freer" capitalism, including the Heritage Foundation (1973), the Cato Institute (1974), and the American Enterprise Institute (founded in 1938 but becoming influential during the 1970′s).

A Radical Message

Combine a turn against government in the field of economics and a growing assertion of political power by businesses, and throw in increased public skepticism of government after Vietnam and Watergate, and you have a recipe for fundamental political change. Between the economic disarray, the public distrust, and both intellectual and financial support for an alternative to post-war welfare statism, a new ideology became dominant in the political sphere. This ideology was encapsulated by the presidency of Ronald Reagan, who summed it up perfectly with his famous quote: "in this current crisis, government is not the solution to the problem; government is the problem."

Such a claim may sound like standard conservative fare today, but both Reagan and his message were quite radical at the time, even among Republicans. At the time of his election, Reagan was seen by some ( including Gerald Ford ) as simply too far right to win. The last (elected) Republican president before him, Nixon, created the Environmental Protection Agency (EPA), the Occupational Health and Safety Administration (OSHA), and a number of other progressive programs. He also called for healthcare reform that could arguably be called stronger than Obamacare, and an expansion of welfare , the latter of which was the inspiration for the Earned Income Tax Credit, passed shortly after he left office. Pieces of Nixon's economic agenda were noticeably left-wing, so much so that one journalist at the time noted that he left the Democrats having to resort to "me-tooism."

Nixon took such positions because he needed to respond to political pressures from the left, the same pressures that had pushed LBJ on civil rights legislation and the war on poverty. In the late 1970's, as the activism and radicalism of the 1960's began to die out, those pressures began to be outweighed by increasing pressure from businesses in the direction of neoliberalism. This started under Jimmy Carter, who oversaw the cautious deregulation of airlines in 1978 and the trucking industry in 1980. However, it was Reagan who truly delivered the neoliberal agenda in America and institutionalized it into government.

Importantly, this era also saw the start of the growth in the importance of campaign donations. Republicans had not only a strong base of think tanks to provide them with a network of intellectual support, they also had far more money from the corporate interests they were serving. Congressional Republicans beat their Democratic counterparts in campaign expenditures in every election year from 1976 to 1992.

Traditionally, Democrats had relied on unions as a critical source of both campaign donations and organizational support. With union strength declining (a trend the Reagan administration encouraged through policy), the Democrats were being totally outgunned. According to Jacob S. Hacker and Paul Pierson's book "Winner-Take-All Politics":

" From the late 1970s to the late 1980s, corporate PACS [political action committees] increased their expenditures in congressional races nearly five fold. Labor spending only rose about half as fast... By 1980, unions accounted for less than a quarter of all PAC donations -- down from half six years earlier."

The Third Way

Even with the emergence of conservative "Reagan Democrats" during the 1980's, the game had changed for the Democratic Party. Recognizing this, a number of Democrats (including Bill Clinton) joined together in a group called the Democratic Leadership Council with the goal of dragging the party to the right and boosting campaign contributions. They succeeded. When Clinton eventually won the presidency, he cemented neoliberalism as the law of the land by making it clear that the Democrats would not challenge the new fundamental doctrine of limited government involvement in many parts of the economy, and as a result made the Democrats politically competitive again. (Both the previously mentioned "Winner-Take-All Politics" and Thomas Ferguson and Joel Roger's "Right Turn" go more into detail on this issue, and on neoliberalism more generally).

Instead of challenging the entirety of Reagan's assertion of government-as-problem, Clinton espoused a "third way" ideology: in his second inauguration, he said that "Government is not the problem, and Government is not the solution. We -- the American people -- we are the solution." Though the Clinton White House at times backed left-liberal policies like mild tax hikes on the wealthy, the Children's Health Insurance Program, and the Family Medical Leave Act, it also continued the neoliberal march of rolling back progressive achievements through the deregulation of Wall Street (the Gramm-Leach-Bliley Act of 1999, the Commodity Futures Modernization Act of 2000, etc.), conservative welfare reform in 1996, NAFTA, and the gutting of public housing .

A One-Party System

Clinton himself was aware of the way that American politics was moving to the right, and he was sometimes frustrated with it. Allegedly, he once entered a meeting in the Oval Office complaining : "Where are all the Democrats? I hope you're all aware we're all Eisenhower Republicans. We're Eisenhower Republicans here, and we are fighting the Reagan Republicans. We stand for lower deficits and free trade and the bond market. Isn't that great?"

Despite this, however, Clinton and most of the rest of the Democratic Party accepted their role doing nothing more than, to borrow a phrase from political philosopher Roberto Unger, "to put a softer face on the agenda of their conservative opponents." They seek to make marginal improvements for poor, working class, and middle class voters here and there, but never seek to fundamentally shake up the political-economic system in any way. As one critic put it in 1990, even before Clinton's election, the Democratic Party is "...history's second-most enthusiastic capitalist party. They do not interfere with capitalist momentum, but wait for excesses and the inevitable popular reaction." This is why many left-wing critics will refer to some Democrats as neoliberals even when they don't literally advocate for free market capitalism.

Neoliberalism within the Democratic Party looks less like a proposal to privatize or abolish Social Security as much as it does a commitment to benefit-cutting "entitlement reform." It can be seen both in language (the constant discussion of education as an "investment" in "skills" necessary for "improving the workforce," instead of a guaranteed right for all citizens) and in policy (proposing tax cuts for the middle class instead of social spending even when taxes are at some of their lowest rates in decades ; compromis[ing] in advance on major policy proposals like the 2009 stimulus; advocating piecemeal technocratic reforms to healthcare and finance instead of deeper, fundamental reform; etc.).

With their opponents on the defensive and partially compliant with their agenda, the Republicans continued to push further right under the leadership of Newt Gingrich and his "Contract with America." The Democrats started to dig their heels in and push back a little for the first time during the later part of the George W. Bush administration as his (and the wars') approval ratings sank, and they now seem to have more or less stabilized. An increasingly loud progressive coalition of activists and advocates continues to push for ideas like single-payer healthcare, often dismissed as radical despite both being an international norm and the explicit goal of many mainstream Democratic politicians before neoliberalism's rise. The Democratic party establishment, on the contrary, is largely fine holding on to ideological territory that is, in certain areas, to the right of where it was several decades ago.

With the establishment of both major political parties accepting neoliberal ideology, it became default wisdom among economic, political, and media elites. Because the most powerful class of America accepted it as fact, it was instilled into the American consciousness as "common sense" that can't be seriously challenged. Ideas in direct opposition to neoliberalism were largely marginalized, and as a result, much of our modern debate now takes place within its bounds. Today, though, this marginalization is rapidly disappearing.

Today, we are witnessing the collapse of neoliberalism's "common sense" status. Republican elites took neoliberalism being one of their root organizing principles for granted while running campaigns using dog-whistle racism, never realizing that they were attracting a base of voters who hated immigrants a lot more than they hated regulation. The Republicans have drifted so far to the right that unabashed nationalists like Trump can now take the lead of the party, even as he espouses racist xenophobia-inspired protectionism that are in conflict with the neoliberal ideals of the party's business wing.

Even during their neoliberalization, the Democrats always had a left-wing occupied by social democrats. Today they largely occupy the Congressional Progressive Caucus. They were empowered by both opposition to the Iraq War late in the Bush era and the subsequent economic crash that occurred as a result of neoliberal deregulation of the finance sector. Obama ran as a semi-progressive but governed as a standard Democrat, leaving progressive disappointment and frustration to rise to the surface again once a primary was held to determine who would be the Democratic candidate after Obama: thus, the Bernie phenomenon.

Globalism & Neoliberalism

It seems as though the extinction of neoliberalism is embedded in the formula of neoliberalism itself. Neoliberalism and accompanying globalization have resulted in inequality and poverty for significant portions of the population, leaving many people economically impoverished and politically alienated. This prompts an inevitable political reaction, angry and populist in nature. The center-left (ex. Hillary Clinton) and center-right (ex. Jeb Bush) sing the praises of neoliberal globalization, while the left (ex. Bernie Sanders) vigorously attacks the "neoliberal" part of it, and the far-right (ex. Donald Trump) vigorously attack the "globalization" part of it. Today, progressives dislike neoliberalism, but also believe that the far-right's disdain for all forms of globalization is a distraction and misidentification of the root issue, using foreigners and people of color as scapegoats. The problem is not globalization, but globalization implemented in such a way so as to benefit the wealthy and powerful.

Neoliberalism is a powerful ideology and way of looking at the world. The neoliberal views most government involvement in the economy as harmful, and seeks to leave social problems to be solved by private enterprise and markets whenever possible. This is an idea that, over the last several decades, has become widely accepted to varying degrees by people across the political spectrum, and as such has been embedded into modern government and public policy.

When discussing modern politics, a recognition of the role neoliberalism has played in fueling massive increases in inequality and corrupting our democracy is vital.

A number of other industrialized countries have undergone neoliberalization on roughly the same time frame as the US, and are now experiencing similar backlashes: the U.K., neoliberalized under Margaret Thatcher and others, now has UKIP on its right and Jeremy Corbyn and social democratic Scottish nationalists on its left. France has witnessed the rise of not only the National Front on its far-right, but also the rise of populist socialists like Jean-Luc Mélenchon. Germany has the AfD and Pegida on its right and Die Linke on its left. New Zealand has New Zealand First. Sweden has the Sweden Democrats. Spain has Podemos. Additionally, backlash against "Washington Consensus" neoliberalism in Latin America contributed to a revitalization of left-populism in many countries. Though there are some nations that have experienced some form of neoliberalism without such political effects, a definite connection between neoliberalism and the emergence of anti-neoliberal populism certainly seems to exist.

[Mar 07, 2020] In the Land of the Gerontocrats by Jacob Bacharach

Notable quotes:
"... Nowhere, though, is the rusty, rickety nature of America's civic society more recently evident than in the hilariously, harrowingly inept response to the advent of the COVID-19 virus as a global contagion. Whether it is more or less dangerous and deadly than the media portrays is quite beside the point. The abject incapacity of any government, least of all the feds, to offer even simple, sensible guidance, much less mobilize national resources to examine, investigate and ameliorate the potential threat to human health and well-being is astonishing, even to a tired old cynic like me. At present, the most proactive step has been to pressure the Federal Reserve into goosing the stock market -- the sort of pagan expiation of dark spirits that you'd expect in a more primitive world, when a volcano blew or an earthquake hit. ..."
Mar 07, 2020 | www.truthdig.com

As much as I like Bernie Sanders and hope he prevails in the Democratic primary, I confess that there's something gray and depressing about a crusty, seventy-something, New-Deal liberal representing the great electoral hope of the American left. There are, of course, a number of engaging young progressives in office now, but the fame and near-celebrity profiles of newcomers like Ilhan Omar, Rashida Tlaib and Alexandria Ocasio-Cortez belie the still fundamentally local power bases of these congresswomen, none of whom has yet been tested even in a statewide election. Victories at the state and local levels have been far outpaced by gains by so-called moderates and centrists, and even these barely dent the thousands of seats and offices lost to radical conservatives during the desultory administration of Barack Obama.

In the campaign for the presidential nomination, and in the aftermath of the multiple "Super Tuesday" primary contests, the Democratic race has become a two-man contest, pitting the insurrectionary Sanders against the increasingly incoherent Joe Biden. In Biden, Democrats are presented with a former senator for America's onshore but off-shore-style tax haven, Delaware, and a man who was selected as the most demographically inoffensive running mate for the then-seemingly-radical campaign of Barack Obama.

Until an eleventh-hour victory in South Carolina, the predominant narrative in the media was that Biden was cooked -- a spent force whose residually strong national poll numbers reflected name recognition and reserves of nostalgia for the Obama years. Biden's revival was buoyed by the support of the state's relatively conservative, older African American population, and then by his Super-Tuesday success just a few days later. (It didn't hurt that the vagaries of election season allowed him to avoid another crackpot debate performance or other testament to his rambling incomprehensibility in the interim.)

But that single victory and the synchronized withdrawals and endorsements by Pete Buttigieg and Amy Klobuchar created a new narrative. Seemingly overnight, Biden had become a scrappy fighter with a never-say-die attitude, a Clintonian Comeback Kid.

This drove many older Democratic voters -- an inherently timorous group conditioned by decades of "The West Wing" and MSNBC to believe they're consultants and strategists rather than citizens and constituents -- toward the more familiar, pedigreed candidate. They simply did not care that Biden has been wrong, often aggressively and outspokenly so, on every significant issue for the last forty years.

After blowing half a billion dollars on a vanity campaign that won him American Samoa, Michael Bloomberg promptly bowed out and endorsed Biden as well, promising to dedicate his vast resources toward electing Joe.

Beyond the quixotic and indefatigable Tulsi Gabbard, the only candidate left standing was Elizabeth Warren -- also in her 70s and running on fumes since an ill-conceived and ill-fated pivot away from "Medicare for All." This ruined her relationship with the socialist left and any chance of serving as a bridge between the activist wing of the party and its constituency of urban professionals, if one could have existed to begin with. ( Editor's note: Warren has since dropped out. )

Looming is yet another septuagenarian, Donald Trump, whose ongoing mental decompensation remains the great unspeakable truth in corporate media. Although frequently hostile to him, with the obvious exception of Fox News, mainstream outlets continue to edit his transcripts "for clarity and concision," as the publishing saying goes, laundering the self-evident lunacy of his almost every public utterance like a gaggle of Soviets turning the somnolent ravings of an agèd commissar into readable prose for the next day's news.

I use the Soviet metaphor consciously. Long before I started dating and then married a scholar of Russian, I had a certain soft spot for the country, alternately maligned as an eternal basket case and an implacably cunning enemy that had sacrificed something like fifty times the number of Americans killed in every American war combined to defeat the Nazis. And now that I am shacked up with a Russianist and have visited the place a couple of times, I've come to see it not as a shadow or opposite of our own vast, weird nation but as a sibling of sorts.

The crass red-scare fantasies that characterize so many of the present narratives around election interference and the criminal Trump-Russia demimonde are as infuriating as they are baroquely silly. And yet there is a certain late-Soviet pallor hanging over America, even if on a material level our empire really does seem more robust than theirs ever was. (Once again, it bears mentioning that we never lost fifty million people in a war.)

There is a sense, despite the apparent ideological contestations of our ongoing presidential elections, of a group of gerontocrats battling to run what looks less and less like a traditional state than the palace apparatus of an ancient empire that has acquired its imperium almost by accident. As the press critic and NYU journalism professor Jay Rosen observed in the fall of last year, "There is no White House. Not in the sense that journalists have always used that term. It's just Trump -- and people who work in the building. That they are reading from the same page cannot be assumed. The words, 'the White House' are still in use, but they have no clear referent."

The hollowed-out nature of the American state has been evident for some time and certainly predates Donald Trump, even if his simultaneously feckless and malicious administration exacerbates the sense of social and economic precariousness. Our biggest city can't build and maintain its transit system. Our bridges collapse. We can't marshal our resources to even pretend to do something about climate change.

The few actual achievements of the Obama administration -- its rapprochements with Cuba and Iran -- collapsed almost immediately on the whims of his successor while his cruelest policies -- the drone assassinations; the militarized border; the detentions -- metastasized and grew crueler.

Our municipal jails have become debtors' prisons as strapped municipalities turn to shaking down poor people and people of color to manage shrinking tax bases. Meanwhile, our health care system is the worst in the developed world -- an impenetrable skein of rent-seeking local monopolies that cost society trillions and bankrupt hundreds of thousands of individuals each year.

Nowhere, though, is the rusty, rickety nature of America's civic society more recently evident than in the hilariously, harrowingly inept response to the advent of the COVID-19 virus as a global contagion. Whether it is more or less dangerous and deadly than the media portrays is quite beside the point. The abject incapacity of any government, least of all the feds, to offer even simple, sensible guidance, much less mobilize national resources to examine, investigate and ameliorate the potential threat to human health and well-being is astonishing, even to a tired old cynic like me. At present, the most proactive step has been to pressure the Federal Reserve into goosing the stock market -- the sort of pagan expiation of dark spirits that you'd expect in a more primitive world, when a volcano blew or an earthquake hit.

Even elections seem beyond our capabilities at this point. In Texas, people waited for up to seven hours to cast votes on decrepit machines, and we still do not have official final results from the Iowa caucuses -- a fact little mentioned now that the primary season has moved on.

On the eve of the French Revolution, the Swiss-born theorist, journalist, and politician Jean-Paul Marat wrote, "No, liberty is not made for us: we are too ignorant, too vain, too presumptuous, too cowardly, too vile, too corrupt, too attached to rest and to pleasure, too much slaves to fortune to ever know the true price of liberty. We boast of being free! To show how much we have become slaves, it is enough just to cast a glance on the capital and examine the morals of its inhabitants."

Donald Trump is in the White House, and his allies in Congress, smarting from his impeachment and failed Senate trial, will now come out with allegations about the sketchy business dealings of one of his likely opponent's adult sons. Well. Here we are.

Jacob Bacharach is the author of the novels "The Doorposts of Your House and on Your Gates" and "The Bend of the World." His most recent book is "A Cool Customer: Joan Didion's The Year of Magical Thinking."

[Mar 03, 2020] "Predatory capitalism", which clearly describes what neoliberalism is.

Highly recommended!
Mar 03, 2020 | www.moonofalabama.org

chu teh , Mar 4 2020 0:50 utc | 80

Tonymike | Mar 3 2020 18:08 utc | 26

re ... Your house foreclosed upon by shady bank: naked capitalism, .0001% paid on interest savings: naked capitalism, poor wages: naked capitalism, dangerous workplace: naked capitalism, etc. ...

"naked capitalism" is not a clear description. Consider using "predatory capitalism", which clearly describes what it is.

Here's the Wiki dictionary definition:

Predatory--

1. relating to or denoting an animal or animals preying naturally on others.
synonyms: predacious, carnivorous, hunting, raptorial, ravening;
Example: "predatory birds".

2. seeking to exploit or oppress others.
synonyms: exploitative, wolfish, rapacious, greedy, acquisitive, avaricious
Example: "I could see a predatory gleam in his eyes"

Note where the word comes from:
The Latin "praedator", in English meaning "plunderer".

And "plunderer" helps the reader understand and perhaps recognize what is happening.

Every plunderer understands.

[Mar 02, 2020] Under the rule of a repressive [neoliberal] oligarchy, freedom can be made into a powerful instrument of domination

Mar 02, 2020 | www.truthdig.com

In "One-Dimensional Man , " Marcuse revealed the fundamental truth of modern Western capitalism: "Under the rule of a repressive whole, liberty can be made into a powerful instrument of domination . Free election of masters does not abolish the masters or the slaves. Free choice among a wide variety of goods and services does not signify freedom if these goods and services sustain social controls over a life of toil and fear -- that is, if they sustain alienation." It does not matter at all whether millions of people recognize their alienation, often blissfully unaware that their "needs" are not their own but merely produced through their superficially pleasant submission. The corporate state continues largely unchallenged.

[Feb 26, 2020] The neoliberal globalists and bankers are engaging in a massive ripoff of the "99%" (although I think the ratio is more like 80-20% rather than 99-1%). But I don't think Bernie has the solution.

Feb 26, 2020 | www.unz.com

Dr. X , says: Show Comment February 26, 2020 at 1:10 pm GMT

This article correctly describes how the neoliberal globalists and bankers are engaging in a massive ripoff of the "99%" (although I think the ratio is more like 80-20% rather than 99-1%). But I don't think Bernie has the solution.

Frankly, the Democratic Party had the solution -- the New Deal, which actually did create economic security for the white working class.

But they threw it out the window, and sided with the neoliberal oligarchy to finance their hedonistic post-1960s lifestyle of porn, drugs, miscegenation, integration, and recreational sex.

They've completely destroyed the culture. I don't think there is any solution at this point.

RadicalCenter , says: Show Comment February 26, 2020 at 1:34 pm GMT
It's interesting: Hudson calls Democrat's "the servants' entrance to the Republican Party" and refers to the republican party's agenda in favor of the one percent.

Meanwhile, also on unz.com this very day, Boyd Cathey has a column "The Russians are Coming" wherein he calls Republicans "a sordid and disreputable second cousin of the advancing leftist juggernaut."

Perhaps they are both correct, and each of their own party's ruling apparatus is no better than the "other" party's ruling apparatus at all.

Jake , says: Show Comment February 26, 2020 at 1:46 pm GMT
The motto of both Democrats and Republican Neocons and Republican Country Clubbers: Don't Think; Don't Ask; Pay Taxes; Vote for Us; Never Doubt 'Our' Filthy Rich; Blame 'Them' for Everything 'We' Call Bad.

American Democracy, WASP created democracy, is a whore's game. It is con artistry.

RadicalCenter , says: Show Comment February 26, 2020 at 1:55 pm GMT
@Anon 123 No, there still is enough money even now to take care of the vast unemployed and underemployed class of people, WITHOUT further taxing those of us still working full-time and increasingly struggling.

1. Place natural resources -- oil, gas, and minerals -- under public ownership. Distribute the proceeds from their extraction and sale as an equal dividend to every US Citizen. (As part of the grand bargain, make it MUCH harder to gain US Citizenship, e.g. no birthright citizenship and no chain migration aka "family reunification.") This is a more thorough, more equitable national version of Alaska's resource-funded permanent fund.

How much do executives and shareholders of energy corporations profit each year off of our God-given natural resources? That becomes revenue available for all US Citizens as a universal basic income. (To minimize price/rent inflation, we can start the UBI very low and phase it in gradually over a period of, say, 8 years.)

2. Stop the us government's constant aggressive wars and occupations far from our borders, and close the majority of our bases abroad. Bring the troops home from Europe, Japan, and South Korea -- they can guard our southern border instead, and the new bases will provide a sustained boost to the hundreds of towns around the new bases here at home.

What if we reduced direct war, occupation, and foreign-base spending by $400 billion per year. Seems like a conservative figure. Here is a website that still has 2018 fed gov spending stats -- and seems to undercount military spending -- but a place to start:

https://www.nationalpriorities.org/interactive-data/trade-offs/?state=00&program=14

Of course, since we are borrowing a large chunk of the fed gov's current spending, we should not simply re-spend all of the military savings. Allocate part to other spending, but simply don't spend the rest (thereby borrowing less each year).

3. The current federal "Alternative Minimum (Income) Tax" kicks in at far too low an income level. Conversely, the AMT rate is far too low for extremely high incomes. What a coincidence. Apply the AMT only to household annual income above $2 million, amply adjusted for inflation, but tax the starch out of the oligarchs and billionaires. Yes, they can be forcibly prevented from moving their assets and themselves out of the country. Bloomberg, Zuckerberg, Buffet, Trump, the Sacklers, et al., can be confined and their property confiscated as needed to pay the AMT on their income and a wealth tax.

Even now, the money is there to directly help the American people with no increase in taxes on 99.5% of us, and with less fed gov borrowing than now.

[Feb 25, 2020] The Democrats' Quandary In a Struggle Between Oligarchy and Democracy, Something Must Give by Michael Hudson

Highly recommended!
Notable quotes:
"... By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is "and forgive them their debts": Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year ..."
"... Until Nevada, all the presidential candidates except for Bernie Sanders were playing for a brokered convention. The party's candidates seemed likely to be chosen by the Donor Class, the One Percent and its proxies, not the voting class (the 99 Percent). If, as Mayor Bloomberg has assumed, the DNC will sell the presidency to the highest bidder, this poses the great question: Can the myth that the Democrats represent the working/middle class survive? Or, will the Donor Class trump the voting class? ..."
"... This could be thought of as "election interference" – not from Russia but from the DNC on behalf of its Donor Class. That scenario would make the Democrats' slogan for 2020 "No Hope or Change." That is, no from today's economic trends that are sweeping wealth up to the One Percent. ..."
"... But in the wake of Sanders' landslide victory in Nevada, a brokered convention would mean the end of the Democrat Party pretense to represent the 99 Percent. The American voting system would be seen to be as oligarchic as that of Rome on the eve of the infighting that ended with Augustus becoming Emperor in 27 BC. ..."
"... Today's pro-One Percent media – CNN, MSNBC and The New York Times ..."
"... History of Rome ..."
"... History of Rome ..."
"... Some on Resistance Twitter claim that if Sanders is the nominee, Trump will win a 48 sweep. Possible, but very unlikely. But if it did happen, the MSM would once again dismiss his program as being completely unacceptable to the voting class, and Sanders would trudge back to Vermont never to be heard from again. ..."
"... So if his program requires a decade long follow through, what are the least bad outcomes? If the D's deprive him of the nomination at the convention, even though he has far and away more pledged delegates, the MSM cannot dismiss his program as it would in the two previous scenarios, and his program would live to fight another day. ..."
"... Trump may or may not win. But if he does, the best he can hope for is a skin-of-his-teeth victory. Seriously, he lost the popular vote by a ton to Hillary freaking Clinton. ..."
"... And stuff is beginning to crumble around him on the Right. The Dow drops. Oops Richie Rich gets uneasy. ..."
"... I was more than a little honked when Sanders appeared to roll over and support HRC in 2016 in spite of the obvious fraud perpetrated on him and his supporters, not to mention the subsequent treatment they received at the hands of the DNC and Tom Perez. ..."
"... I find myself wondering if it wouldn't be a good idea for Sanders and his supporters to make it absolutely clear their attempts to work within 'the system' are finished if they are robbed again; maybe even starting work immediately on establishing a party not controlled by Wall Street lickspittle or knuckle-dragging no-nothings? ..."
Feb 25, 2020 | www.nakedcapitalism.com

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is "and forgive them their debts": Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year

To hear the candidates debate, you would think that their fight was over who could best beat Trump. But when Trump's billionaire twin Mike Bloomberg throws a quarter-billion dollars into an ad campaign to bypass the candidates actually running for votes in Iowa, New Hampshire and Nevada, it's obvious that what really is at issue is the future of the Democrat Party. Bloomberg is banking on a brokered convention held by the Democratic National Committee (DNC) in which money votes. (If "corporations are people," so is money in today's political world.)

Until Nevada, all the presidential candidates except for Bernie Sanders were playing for a brokered convention. The party's candidates seemed likely to be chosen by the Donor Class, the One Percent and its proxies, not the voting class (the 99 Percent). If, as Mayor Bloomberg has assumed, the DNC will sell the presidency to the highest bidder, this poses the great question: Can the myth that the Democrats represent the working/middle class survive? Or, will the Donor Class trump the voting class?

This could be thought of as "election interference" – not from Russia but from the DNC on behalf of its Donor Class. That scenario would make the Democrats' slogan for 2020 "No Hope or Change." That is, no from today's economic trends that are sweeping wealth up to the One Percent.

All this sounds like Rome at the end of the Republic in the 1st century BC. The way Rome's constitution was set up, candidates for the position of consul had to pay their way through a series of offices. The process started by going deeply into debt to get elected to the position of aedile, in charge of staging public games and entertainments. Rome's neoliberal fiscal policy did not tax or spend, and there was little public administrative bureaucracy, so all such spending had to be made out of the pockets of the oligarchy. That was a way of keeping decisions about how to spend out of the hands of democratic politics. Julius Caesar and others borrowed from the richest Bloomberg of their day, Crassus, to pay for staging games that would demonstrate their public spirit to voters (and also demonstrate their financial liability to their backers among Rome's One Percent). Keeping election financing private enabled the leading oligarchs to select who would be able to run as viable candidates. That was Rome's version of Citizens United.

But in the wake of Sanders' landslide victory in Nevada, a brokered convention would mean the end of the Democrat Party pretense to represent the 99 Percent. The American voting system would be seen to be as oligarchic as that of Rome on the eve of the infighting that ended with Augustus becoming Emperor in 27 BC.

Today's pro-One Percent media – CNN, MSNBC and The New York Times have been busy spreading their venom against Sanders. On Sunday, February 23, CNN ran a slot, "Bloomberg needs to take down Sanders, immediately."[1]Given Sanders' heavy national lead, CNN warned, the race suddenly is almost beyond the vote-fixers' ability to fiddle with the election returns. That means that challengers to Sanders should focus their attack on him; they will have a chance to deal with Bloomberg later (by which CNN means, when it is too late to stop him).

The party's Clinton-Obama recipients of Donor Class largesse pretend to believe that Sanders is not electable against Donald Trump. This tactic seeks to attack him at his strongest point. Recent polls show that he is the only candidate who actually would defeat Trump – as they showed that he would have done in 2016.

The DNC knew that, but preferred to lose to Trump than to win with Bernie. Will history repeat itself? Or to put it another way, will this year's July convention become a replay of Chicago in 1968?

A quandary, not a problem . Last year I was asked to write a scenario for what might happen with a renewed DNC theft of the election's nomination process. To be technical, I realize, it's not called theft when it's legal. In the aftermath of suits over the 2016 power grab, the courts ruled that the Democrat Party is indeed controlled by the DNC members, not by the voters. When it comes to party machinations and decision-making, voters are subsidiary to the superdelegates in their proverbial smoke-filled room (now replaced by dollar-filled foundation contracts).

I could not come up with a solution that does not involve dismantling and restructuring the existing party system. We have passed beyond the point of having a solvable "problem" with the Democratic National Committee (DNC). That is what a quandary is. A problem has a solution – by definition. A quandary does not have a solution. There is no way out. The conflict of interest between the Donor Class and the Voting Class has become too large to contain within a single party. It must split.

A second-ballot super-delegate scenario would mean that we are once again in for a second Trump term. That option was supported by five of the six presidential contenders on stage in Nevada on Wednesday, February 20. When Chuck Todd asked whether Michael Bloomberg, Elizabeth Warren, Joe Biden, Pete Buttigieg and Amy Klobuchar would support the candidate who received the most votes in the primaries (now obviously Bernie Sanders), or throw the nomination to the super-delegates held over from the Obama-Clinton neoliberals (75 of whom already are said to have pledged their support to Bloomberg), each advocated "letting the process play out." That was a euphemism for leaving the choice to the Tony-Blair style leadership that have made the Democrats the servants' entrance to the Republican Party. Like the British Labour Party behind Blair and Gordon Brown, its role is to block any left-wing alternative to the Republican program on behalf of the One Percent.

This problem would not exist if the United States had a European-style parliamentary system that would enable a third party to obtain space on the ballots in all 50 states. If this were Europe, the new party of Bernie Sanders, AOC et al. would exceed 50 percent of the votes, leaving the Wall Street democrats with about the same 8 percent share that similar neoliberal democratic parties have in Europe ( e.g ., Germany's hapless neoliberalized Social Democrats), that is, Klobocop territory as voters moved to the left. The "voting Democrats," the 99 Percent, would win a majority leaving the Old Neoliberal Democrats in the dust.

The DNC's role is to prevent any such challenge. The United States has an effective political duopoly, as both parties have created such burdensome third-party access to the ballot box in state after state that Bernie Sanders decided long ago that he had little alternative but to run as a Democrat.

The problem is that the Democrat Party does not seem to be reformable. That means that voters still may simply abandon it – but that will simply re-elect the Democrats' de facto 2020 candidate, Donald Trump. The only hope would be to shrink the party into a shell, enabling the old guard to go way so that the party could be rebuilt from the ground up.

But the two parties have created a legal duopoly reinforced with so many technical barriers that a repeat of Ross Perot's third party (not to mention the old Socialist Party, or the Whigs in 1854) would take more than one election cycle to put in place. For the time being, we may expect another few months of dirty political tricks to rival those of 2016 as Obama appointee Tom Perez is simply the most recent version of Florida fixer Debbie Schultz-Wasserman (who gave a new meaning to the Wasserman Test).

So we are in for another four years of Donald Trump. But by 2024, how tightly will the U.S. economy find itself tied in knots?

The Democrats' Vocabulary of Deception

How I would explain Bernie's program. Every economy is a mixed economy. But to hear Michael Bloomberg and his fellow rivals to Bernie Sanders explain the coming presidential election, one would think that an economy must be either capitalist or, as Bloomberg put it, Communist. There is no middle ground, no recognition that capitalist economies have a government sector, which typically is called the "socialist" sector – Social Security, Medicare, public schooling, roads, anti-monopoly regulation, and public infrastructure as an alternative to privatized monopolies extracting economic rent.

What Mr. Bloomberg means by insisting that it's either capitalism or communism is an absence of government social spending and regulation. In practice this means oligarchic financial control, because every economy is planned by some sector. The key is, who will do the planning? If government refrains from taking the lead in shaping markets, then Wall Street takes over – or the City in London, Frankfurt in Germany, and the Bourse in France.

Most of all, the aim of the One Percent is to distract attention from the fact that the economy is polarizing – and is doing so at an accelerating rate. National income statistics are rigged to show that "the economy" is expanding. The pretense is that everyone is getting richer and living better, not more strapped. But the reality is that all the growth in GDP has accrued to the wealthiest 5 Percent since the Obama Recession began in 2008. Obama bailed out the banks instead of the 10 million victimized junk-mortgage holders. The 95 Percent's share of GDP has shrunk.

The GDP statistics do not show is that "capital gains" – the market price of stocks, bonds and real estate owned mainly by the One to Five Percent – has soared, thanks to Obama's $4.6 trillion Quantitative Easing pumped into the financial markets instead of into the "real" economy in which wage-earners produce goods and services.

How does one "stay the course" in an economy that is polarizing? Staying the course means continuing the existing trends that are concentrating more and more wealth in the hands of the One Percent, that is, the Donor Class – while loading down the 99 Percent with more debt, paid to the One Percent (euphemized as the economy's "savers"). All "saving" is at the top of the pyramid. The 99 Percent can't afford to save much after paying their monthly "nut" to the One Percent.

If this economic polarization is impoverishing most of the population while sucking wealth and income and political power up to the One Percent, then to be a centrist is to be the candidate of oligarchy. It means not challenging the economy's structure.

Language is being crafted to confuse voters into imagining that their interest is the same as that of the Donor Class of rentiers , creditors and financialized corporate businesses and rent-extracting monopolies. The aim is to divert attention from voters' their own economic interest as wage-earners, debtors and consumers. It is to confuse voters not to recognize that without structural reform, today's "business as usual" leaves the One Percent in control.

So to call oneself a "centrist" is simply a euphemism for acting as a lobbyist for siphoning up income and wealth to the One Percent. In an economy that is polarizing, the choice is either to favor them instead of the 99 Percent.

That certainly is not the same thing as stability. Centrism sustains the polarizing dynamic of financialization, private equity, and the Biden-sponsored bankruptcy "reform" written by his backers of the credit-card companies and other financial entities incorporated in his state of Delaware. He was the senator for the that state's Credit Card industry, much as former Democratic VP candidate Joe Lieberman was the senator from Connecticut's Insurance Industry.

A related centrist demand is that of Buttigieg's and Biden's aim to balance the federal budget. This turns out to be a euphemism for cutting back Social Security, Medicare and relate social spending ("socialism") to pay for America's increasing militarization, subsidies and tax cuts for the One Percent. Sanders rightly calls this "socialism for the rich." The usual word for this is oligarchy . That seems to be a missing word in today's mainstream vocabulary.

The alternative to democracy is oligarchy. As Aristotle noted already in the 4 th

Confusion over the word "socialism" may be cleared up by recognizing that every economy is mixed, and every economy is planned – by someone. If not the government in the public interest, then by Wall Street and other financial centers in their interest. They fought against an expanding government sector in every economy today, calling it socialism – without acknowledging that the alternative, as Rosa Luxemburg put it, is barbarism.

I think that Sanders is using the red-letter word "socialism" and calling himself a "democratic socialist" to throw down the ideological gauntlet and plug himself into the long and powerful tradition of socialist politics. Paul Krugman would like him to call himself a social democrat. But the European parties of this name have discredited this label as being centrist and neoliberal. Sanders wants to emphasize that a quantum leap, a phase change is in order.

If he can be criticized for waving a needlessly red flag, it is his repeated statement that his program is designed for the "working class." What he means are wage-earners and this includes the middle class. Even those who make over $100,000 a year are still wage earners, and typically are being squeezed by a predatory financial sector, a predatory medical insurance sector, drug companies and other monopolies.

The danger in this terminology is that most workers like to think of themselves as middle class, because that is what they would like to rise into. That is especially he case for workers who own their own home (even if mortgage represents most of the value, so that most of the home's rental value is paid to banks, not to themselves as part of the "landlord class"), and have an education (even if most of their added income is paid out as student debt service), and their own car to get to work (involving automobile debt).

The fact is that even $100,000 executives have difficulty living within the limits of their paycheck, after paying their monthly nut of home mortgage or rent, medical care, student loan debt, credit-card debt and automobile debt, not to mention 15% FICA paycheck withholding and state and local tax withholding.

Of course, Sanders' terminology is much more readily accepted by wage-earners as the voters whom Hillary called "Deplorables" and Obama called "the mob with pitchforks," from whom he was protecting his Wall Street donors whom he invited to the White House in 2009. But I think there is a much more appropriate term: the 99 Percent, made popular by Occupy Wall Street. That is Bernie's natural constituency. It serves to throw down the gauntlet between democracy and oligarchy, and between socialism and barbarism, by juxtaposing the 99 Percent to the One Percent.

The Democratic presidential debate on February 25 will set the stage for Super Tuesday's "beauty contest" to gauge what voters want. The degree of Sanders' win will help determine whether the byzantine Democrat party apparatus that actually will be able to decide on the Party's candidate. The expected strong Sanders win is will make the choice stark: either to accept who the voters choose – namely, Bernie Sanders – or to pick a candidate whom voters already have rejected, and is certain to lose to Donald Trump in November.

If that occurs, the Democrat Party will evaporate as its old Clinton-Obama guard is no longer able to protect its donor class on Wall Street and corporate America. Too many Sanders voters would stay home or vote for the Greens. That would enable the Republicans to maintain control of the Senate and perhaps even grab back the House of Representatives.

But it would be dangerous to assume that the DNC will be reasonable. Once again, Roman history provides a "business as usual" scenario. The liberal German politician Theodor Mommsen published his History of Rome in 1854-56, warning against letting an aristocracy block reform by controlling the upper house of government (Rome's Senate, or Britain House of Lords). The leading families who overthrew the last king in 509 BC created a Senate chronically prone to being stifled by its leaders' "narrowness of mind and short-sightedness that are the proper and inalienable privileges of all genuine patricianism."[2]

These qualities also are the distinguishing features of the DNC. Sanders had better win big!

________________

[1] https://edition.cnn.com/2020/02/22/opinions/bloomberg-needs-to-take-down-sanders-lockhart/index.html . Joe Lockhart, opinion. For the MSNBC travesty see from February 23, https://www.commondreams.org/news/2020/02/23/msnbc-full-blown-freakout-mode-bernie-sanders-cements-status-democratic-frontrunner, by Jake Johnson.

[2]Mommsen, History of Rome , 1911: 268.


divadab , February 25, 2020 at 7:55 am

I wonder how much of the rot at the top of the Dem party is simple dementia. By the age of 70, half of people have some level of dementia. Consider Joe Biden – is anyone in the public sphere going to state the obvious – that he has dementia and as such is unfit for office?

Fred1 , February 25, 2020 at 8:32 am

First, my priors. I voted for Sanders in 2016, will vote for him in 2020, and expect him to be elected president. Further I believe that where we find ourselves today is the result of at least 40 years of intentional bi-partisan policies. Both parties are responsible.

If Sanders, upon being elected, were able to snap his fingers and call into existence his entire program, it would immediately face a bi-partisan opposition that would be funded by billions of dollars, which would be willing to take as long as necessary, even decades, to roll it back.

Just electing Sanders is only the first step. There must be a committed, determined follow through that must be willing to last decades as well for his program to stick. And there will be defeats along the way.

Several observations. If Hillary had beaten Trump, Sanders would have trudged back to Vermont and would never have been heard from again. The MSM would have dismissed his program as being completely unacceptable to the voting class. But she didn't, so here we are, which is fantastic.

Some on Resistance Twitter claim that if Sanders is the nominee, Trump will win a 48 sweep. Possible, but very unlikely. But if it did happen, the MSM would once again dismiss his program as being completely unacceptable to the voting class, and Sanders would trudge back to Vermont never to be heard from again.

So if his program requires a decade long follow through, what are the least bad outcomes? If the D's deprive him of the nomination at the convention, even though he has far and away more pledged delegates, the MSM cannot dismiss his program as it would in the two previous scenarios, and his program would live to fight another day.

If he loses to Trump, but closely, which can mean a lot of different things, his program would live to fight another day. Moreover, if the D's are seen to actively collude with Trump, this less bad outcome would be even better.

I am an old geezer and don't expect to live long enough to see how all of this plays out. But I am very optimistic about his program's long term prospects. There is only one bad outcome, a Trump 48 state sweep, which I consider very unlikely. But most importantly, the best outcome, his election, and the two least bad outcomes, the D's stealing the nomination from him or his losing a close general election, all still will require a decades long commitment to make his program permanent.

I wish I were younger.

a different chris , February 25, 2020 at 8:55 am

>a Trump 48 state sweep

Where do people get this? Take a deep breath. Trump may or may not win. But if he does, the best he can hope for is a skin-of-his-teeth victory. Seriously, he lost the popular vote by a ton to Hillary freaking Clinton.

And stuff is beginning to crumble around him on the Right. The Dow drops. Oops Richie Rich gets uneasy.

Hammered by a 5 star general. The Deplorables kids were raised to look up to generals, not New Yawk dandys. How does this affect them? And it's still February.

Sailor Bud , February 25, 2020 at 8:34 am

Just an FYI: The five-volume Mommsen "History of Rome" referenced in the text is available in English on Project Gutenberg, free and legal to download. Probably everyone here knows this, but just in case

Dan , February 25, 2020 at 8:44 am

How about Bernie call himself "Roosevelt Democrat" instead of "Democratic Socialist". It would give all those in the senior demographic a better understanding of what Sander's policies mean to them as opposed to the scary prospect of the "Socialist" label.

Oxley Creek Boy , February 25, 2020 at 10:12 am

The Democrats should have been slowly disarming the word "socialist" for at least the last decade. In principle, it's not difficult – as Michael Hudson says – "Every economy is a mixed economy" – and in a very real sense everyone's a socialist (even if only unconsciously). I'm not saying that bit of rhetorical jujitsu would magically turn conservative voters progressive but you'll never get to the point where you can defend socialist programs on the merits if you always dodge that fight. It's just a shame that Bernie Sanders has to do it all in a single election cycle and I don't think choosing a different label now would help him much.

flora , February 25, 2020 at 11:37 am

He could even compare himself to the earlier Roosevelt: Teddy Roosevelt.

By 1900 the old bourbon Dem party was deeply split between its old, big business and banking wing – the bourbons – and the rising progressive/populist wing. It was GOP pres Roosevelt who first pushed through progressive programs like breaking up railroad and commodity monopolies, investigating and regulating meat packing and fraudulent patent medicines, etc. Imagine that.

lyman alpha blob , February 25, 2020 at 1:30 pm

I just finished Stoller's book Goliath and according to him, Teddy wasn't quite as progressive as we are often led to believe. He wasn't so much opposed to those with enormous wealth – he just wanted them to answer to him. He did do the things you mentioned, but after sending the message to the oligarchs, he then became friendly with them once he felt he'd brought them to heel. He developed quite the soft spot for JP Morgan, according to Stoller.

TR wanted to be the Boss, the center of attention with everyone looking up to him. As one of his relatives said, he wanted to be the baby at every christening and the corpse at every funeral.

I find Bernie to be a lot more humble.

Balakirev , February 25, 2020 at 12:51 pm

I have a sense that changing his party affiliation label at any point in time since Sanders began running for president in 2016 would be a godsend to his enemies in both hands of the Duopoly. They'd tar him loudly as a hypocrite without an ounce of integrity, using personal politics to distract from the issues.

Meanwhile, we can expect to see the Socialist (and Communist, and Russia-Russia-Russia) nonsense reiterated as long as Sanders has strong visibility. He's extremely dangerous to both parties and their owners. I don't' believe the DNC will let him take the convention, but if he does, I'll bet the Dems give him minimal support and hope he fails–better the devil you know, etc.

political economist , February 25, 2020 at 9:56 am

It's time to put your money in reality futures by putting all that you can into supporting Bernie, AOC, etc. and all your local candidates that support at least democratic socialism and ourrevolution the DSA Justice Dems or other groups that have people but need money. I was having a conversation with a friend who was complaining that he was getting too many emails from Bernie asking for money after he had given the campaign a "modest amount". My suggestion was in honor of his children and grandchildren he should instead GIVE 'TIL IT FEELS GOOD. My spouse and I, I told him, gave the max to Bernie and now we don't give upset when he asks for more. There will likely never be a moment like this in history and there may not be much of a history if things go the wrong way now. He agreed.

Debra D. , February 25, 2020 at 10:11 am

Exactly right. I gave Bernie the max in 2019 and will keep giving throughout 2020. This campaign is about not just me, but all of us. It's now. We must fight for this change as has always been the historical precedent.

BillC , February 25, 2020 at 11:55 am

OK, you two gave me the push I needed to max out my contributions to Bernie too. Let's hope Bernie's (oops OUR) bandwagon keeps gathering steam!

Arizona Slim , February 25, 2020 at 12:41 pm

Another 2019 Bernie maxer here.

I feel blessed to have been able to give at this level. And I believe that I did this for a lot of people who aren't able to donate at all.

steven , February 25, 2020 at 11:13 am

I was more than a little honked when Sanders appeared to roll over and support HRC in 2016 in spite of the obvious fraud perpetrated on him and his supporters, not to mention the subsequent treatment they received at the hands of the DNC and Tom Perez.

I am coming to understand that might have been necessary within the context of one last desperate attempt to work with the Democratic party. But now I find myself wondering if it wouldn't be a good idea for Sanders and his supporters to make it absolutely clear their attempts to work within 'the system' are finished if they are robbed again; maybe even starting work immediately on establishing a party not controlled by Wall Street lickspittle or knuckle-dragging no-nothings?

Little as it has been the answer has a lot to do with my willingness to pour more money into repetitively self-defeating behavior.

HotFlash , February 25, 2020 at 12:49 pm

Bernie is a long-distance runner and strategizes like one. First work on finishing your races. Then worry about where you place.

Debra R. , February 25, 2020 at 11:28 am

I am a somewhat old geezer, too, who caucused for Bernie in 2016 and 2020. This article is very good and helps me understand why I feel the way I do. I was disappointed in Obama, who didn't follow through on the things I cared about, and I was devastated when Clinton was crowned the Democratic nominee well before the Convention, all the while holding onto a smidgen of hope that somehow Bernie would pull through as the nominee.

I was ecstatic when Bernie announced his candidacy for 2020. He is our only hope, and now we have a second chance. But now I am spending half my time screaming at people on tv and online who can't even hear me, and even if they could, they don't give a s–t what I think. It's Clinton 2.0–same thing all over again, four years later. Just who do these people (DNC, MSM, and others with a voice) think they are, to decide for the Democratic voters which candidate will be the nominee, who won't be the nominee, without regard to what the voters want? They are a bunch of pompous as–s who have some other motive that I am not savvy enough to understand. Is it about money in their pockets or what?

It should be as simple as this–Bernie is leading in the polls, if they are to be believed, and good people of all demographics want him to be our next President. He is a serious contender for the nomination. Show the man some much-earned respect and put people on MSM and publish articles by writers who help us understand what the anti-Bernie panic is about and why we shouldn't panic. Help us to explain his plans if he hasn't explained it thoroughly enough instead of calling him crazy. But to dismiss him as if he has the plague is not furthering the truth, and it is a serious injustice to the voting public. Naked Capitalism can't do it alone.

HotFlash , February 25, 2020 at 12:58 pm

There is a lot of good analysis out there, mainly on Youtube. I particularly like The Hill's Rising. A young progressive Democrat and a young progressive Republican (who even knew there was such a thing!) 'splain a lot of the antipathy. Another good source is Nomiki Konst, who is working on reforming the Dem party from within. Here she talks to RJ Eskow about how the DNC is structured and how she hopes to provide tools for rank-and-file Dems to wrest the levers of power from the establishment. https://www.youtube.com/watch?v=WZ7wm6DCPV4

notabanktoadie , February 25, 2020 at 12:32 pm

Private sector cannot operate without same. Harrold

The problem is that the population, including FDR in his time, have been duped into believing that the private sector REQUIRES government privileges for private depository institutions, aka "the banks."

So currently we have no truly private sector to speak of but businesses and industry using the public's credit but for private gain.

Susan the other , February 25, 2020 at 12:16 pm

Last night's Democracy Now was interesting. Amy seems to be less of a commie hater than she recently was with her participation in the Russia-Russia-Russia smears against Trump. She held court last night with Paul Krugman and Richard Wolff discussing just exactly what "socialism" means. It was a great performance.

Krug seemed a little shellshocked about the whole discussion and he said we shouldn't even use the term "socialism" at all because all the things Bernie wants are just as capitalist – that capitalism encompasses socialism. But he stuttered when he discussed "single-payer" which he claimed he supported – his single payer is like Pete Buttigieg's single-payer-eventually. He tried to change the subject and Amy brought him straight back.

Then Wolff, who was in excellent form, informed the table that "socialism" is a moveable feast because it can be and has been many things for the advancement of societies, etc. But the term always means the advancement of society. Then Krug dropped a real bomb – he actually said (this is almost a quote) that recently he had been informed by Powell that debt isn't really all that important.

Really, Krug said that. And he tried to exetend that thought to the argument that anybody can provide social benefits – it doesn't require a self-proclaimed "socialist".

Richard Wolff confronted that slide with pointing out that it hasn't happened yet – and he left Krug with no excuses. It was quite the showdown. Nice Richard Wolff is so firmly in Bernie's camp.

Krug looked evasive – and I kept wishing they had invited Steve Keen to participate.

[Feb 25, 2020] The Economic Anxiety Hypothesis has Become Absurd(er)

Highly recommended!
Notable quotes:
"... The key promise of neoliberalism, which came to power in the USA in 1980 with the election of Reagan (aka "the Quiet Coup") was that "the rising tide lifts all boats." -- the redistribution of the wealth up somehow will lift the standard of living of lower strata of the population too. This was a false promise from the very beginning (like everything about neoliberalism, which is based on lies and fake economics in any case). So anger accumulated and now became the key factor in elections. This anger is directed against the neoliberal establishment. ..."
"... The anger toward immigrants is, in fact, a displaced and projected anger against the elimination of meaningful and well-paid jobs and replacing them with McJobs, the process that was the key factor in lowering the standard of living of the bottom 80% of the population. ..."
"... The other part of this anger is directed toward the USA financial oligarchy (personified by such passionately hated figures as Lloyd "we are doing God's" Blankfein, private equity sharks, and figures like Wexner/Epstein) and "political establishment" the key figures of which many people would like to see hanging from street lamp posts (remember "Lock her up" movement in 2016). ..."
"... That's why the neoliberal establishment was forced to use to dirty tricks like Russiagate to patch the cracks in the neoliberal façade. ..."
"... In Marxist terms, the USA entered the period called the "revolutionary situation" when the ruling neoliberal elite couldn't govern "as usual" and "the deplorable" do not want to live "as usual". The situation when according to Hegel, "quantity turns into quality," or as Marx said "ideas become a material force when they grip the mind of the masses." ..."
Feb 25, 2020 | angrybearblog.com

I am old enough to remember when many very serious people ascribed the rise of Donald Trump to economic anxiety. The hypthesis never fit the facts (his supporters had higher incomes on average than Clinton's) but it has become absurd. The level of self reported economic anxiety is extraordinarily low

Gallup reports "Record High optimism about Personal Finances in U.S." with 74% predicting they will be better off next year.

Yet now the Democratic party has an insurgent candidate candidate in the lead. I hasten to stress that I am not saying Sanders supporters have much in common with Trump supporters (young vs old, strong hispanic support vs they hate Trump etc etc etc). But both appeal to anger and advocate a radical break with business as usual. Both reject party establishments. Also Warren if a little bit less so.

Trump's 2016 angry supporters still support him *and* they are still angry. He remains unpopular in spite of an economy performing very well (and perceived to be performing very well).

Whatever is going on in 2020, it sure isn't economic anxiety.

Yet there is clearly anger and desire for radical change.

I don't pretend to understand it, but I think it probably has a lot to do with relative economic performance and increased inequality. I can't understand why the reaction of so many Americans to this would be to hate immigrants and vote for Trump, but, then I don't watch Fox News.

One other thing which it isn't is rejection of the guy who came before Trump. Obama has a Real Clear Politics average favorable rating of 59% and unfavorable of 36.1 % vastly vastly better than any currently active politician. (Sanders is doing relatively very well at net -2.7 compared to Obama's + 22.9) He is not rejected. He is not considered a failure. Yet only a small majority is interested in any sort of going back to the way things were.


likbez , February 25, 2020 12:37 am

Robert ,

Trump's 2016 angry supporters still support him *and* they are still angry.

Many Trump "angry supporters" in 2016 used to belong to "anybody but Hillary" class (and they included a noticeable percentage of Bernie supporters, who felt betrayed by DNC) .

They are lost for Trump as he now in many aspects represents the "new Hillary" and the slogan "anybody but Trump" is growing in popularity. Even among Republicans: Trump definitely already lost a large part of anti-war Republicans and independents. As well as. most probably, a part of working class as he did very little for them outside of effects of military Keynesianism.

I suspect he also lost a part of military voters, those who supported Tulsi. They will never vote for Trump.

He also lost a part of "technocratic" voters resentful of the rule of financial oligarchy (anti-swampers), as his incompetence is now an undisputable fact.

He also lost Ron Paul's libertarians, who voted for him in 2016.

How "Coronavirus recession", if any, might affect 2020 elections is difficult to say, but in any case this is an unfavorable for Trump event.

EMichael , February 25, 2020 10:39 am

"I can't understand why the reaction of so many Americans to this would be to hate immigrants and vote for Trump, but, then I don't watch Fox News."

Coming to you since 1965. It's just that immigrants are now added to blacks. Trump took 50 years of the Southern Strategy, took the dogwhistles completely out of the closet and wore his racism right on his chest. Helped that he had over 50 years of experience as a racist, it came naturally to him.

And he attracted a new rw base, those who were not satisfied with dog whistles and/or did not hear them.

likbez , February 25, 2020 12:19 pm

I don't pretend to understand it, but I think it probably has a lot to do with relative economic performance and increased inequality.

It is actually very easy to understand: the middle class fared very poorly since 1991. See https://www.cnbc.com/id/44962589 . Now "the chickens come home to roost," so to speak.

The key promise of neoliberalism, which came to power in the USA in 1980 with the election of Reagan (aka "the Quiet Coup") was that "the rising tide lifts all boats." -- the redistribution of the wealth up somehow will lift the standard of living of lower strata of the population too. This was a false promise from the very beginning (like everything about neoliberalism, which is based on lies and fake economics in any case). So anger accumulated and now became the key factor in elections. This anger is directed against the neoliberal establishment.

The anger toward immigrants is, in fact, a displaced and projected anger against the elimination of meaningful and well-paid jobs and replacing them with McJobs, the process that was the key factor in lowering the standard of living of the bottom 80% of the population.

The other part of this anger is directed toward the USA financial oligarchy (personified by such passionately hated figures as Lloyd "we are doing God's" Blankfein, private equity sharks, and figures like Wexner/Epstein) and "political establishment" the key figures of which many people would like to see hanging from street lamp posts (remember "Lock her up" movement in 2016).

Resentment against spending huge amounts of money for wars for sustaining and enlarging the global USA-centered neoliberal empire is another factor. In this sense, impoverishment and shrinking of the middle class in the USA is similar to the same impoverishment during the last days of the British colonial empire.

That's why the neoliberal establishment was forced to use to dirty tricks like Russiagate to patch the cracks in the neoliberal façade.

In Marxist terms, the USA entered the period called the "revolutionary situation" when the ruling neoliberal elite couldn't govern "as usual" and "the deplorable" do not want to live "as usual". The situation when according to Hegel, "quantity turns into quality," or as Marx said "ideas become a material force when they grip the mind of the masses."

In 2016 that resulted in the election of Trump.

Add to this the fact that the neoliberal establishment (represented by both parties) now is clearly anti-social (the fact that a private equity shark Romney was a presidential candidate and then was elected as senator tells a lot about the level of degradation) and is unwilling to solve burning problems with medical insurance, minimal wage and other "the New Deal" elements of social infrastructure.

Democratic Party platform now is to the right of Eisenhower republicans.

That dooms the party candidates like CIA-democrat Major Pete, or "the senator from the credit card companies" Biden, and create an opening for political figures like Sanders (which are passionately hated by DNC)

[Feb 24, 2020] Creating the Corporate Coup

Notable quotes:
"... Although corporations are legally a person (see history below), they are in fact an entity. The sole goal of that entity is profit. There is no corporate conscience. ..."
"... Perhaps it would be useful to look at the nature of our global expansion. The global expanse of US military bases is well-known, but its actual territorial empire is largely hidden. The true map of America is not taught in our schools. Abby Martin interviews history Professor Daniel Immerwahr about his new book, ' How To Hide An Empire ,' where he documents the story of our "Greater United States." This is worth the 40 minute watch...I learned several new things. One more long clip. However this one is fine to just listen to as you do things. This is a wonderful interview with Noam Chomsky. The man exudes wisdom. ..."
"... The oligarchy has been with us since perhaps the tribal origins of our species, but the corporation is a newer phenomenon. A faceless, soulless profit machine. Ironically it is the 14th amendment which is used to justify corporate person-hood. ..."
"... Corporations aren't specifically mentioned in the 14th Amendment, or anywhere else in the Constitution. But going back to the earliest years of the republic, when the Bank of the United States brought the first corporate rights case before the Supreme Court, U.S. corporations have sought many of the same rights guaranteed to individuals, including the rights to own property, enter into contracts, and to sue and be sued just like individuals. ..."
"... But it wasn't until the 1886 case Santa Clara County v. Southern Pacific Rail Road that the Court appeared to grant a corporation the same rights as an individual under the 14th Amendment ..."
"... The United States is home to five of the world's 10 largest defense contractors, and American companies account for 57 percent of total arms sales by the world's 100 largest defense contractors, based on SIPRI data. Maryland-based Lockheed Martin, the largest defense contractor in the world, is estimated to have had $44.9 billion in arms sales in 2017 through deals with governments all over the world. The company drew public scrutiny after a bomb it sold to Saudi Arabia was dropped on a school bus in Yemen, killing 40 boys and 11 adults. Lockheed's revenue from the U.S. government alone is well more than the total annual budgets of the IRS and the Environmental Protection Agency, combined. ..."
"... http://news.nidokidos.org/military-spending-20-companies-profiting-the-m... For a list of the 20 companies profiting most off war... https://themindunleashed.com/2019/03/20-companies-profiting-war.html ..."
"... Capitalism, militarism and imperialism are disastrously intertwined ..."
"... Corporations are Religions Yes they are. They have ethics, goals, and priests. They have a god who determines everything "The Invisible Hand". They believe themselves to be superior to the state. They have cult garb, or are we not going to pretend that there's corporate dress codes, right down to the things you can wear on special days of the week. They determine what you can eat, drink and read. If you say something wrong, they feel within their rights to punish you because they OWN the medium that you used to spread ideas. OF course they don't own your thoughts... those belong to the OTHER god. ..."
Dec 09, 2019 | caucus99percent.com

Chris Hedges often says "The corporate coup is complete". Sadly I think he is correct. So this week I thought it might be interesting to explore the techniques which are used here at home and abroad. The oligarchs' corporate control is global, but different strategies are employed in various scenarios. Just thinking about the recent regime changes promoted by the US in this hemisphere...

The US doesn't even lie about past coups. They recently released a report about the 1953 CIA led coup against Iran detailing the strategies. Here at home it is a compliant media and a new array of corporate laws designed to protect and further enrich that spell the corporate capture of our culture and society. So let's begin by looking at the nature of corporations...

The following 2.5 hour documentary from 2004 features commentary from Chris, Noam, Naomi, and many others you know. It has some great old footage. It is best watched on a television so you have a bigger screen. (This clip is on the encore+ youtube channel and does have commercials which you can skip after 5 seconds)
https://www.youtube.com/watch?v=zpQYsk-8dWg

Based on Joel Bakan's bestseller The Corporation: The Pathological Pursuit of Profit and Power , this 26-award-winning documentary explores a corporation's inner workings, curious history, controversial impacts and possible futures.

One hundred and fifty years ago, a corporation was a relatively insignificant entity. Today, it is a vivid, dramatic, and pervasive presence in all our lives. Like the Church, the Monarchy and the Communist Party in other times and places, a corporation is today's dominant institution.

Charting the rise of such an institution aimed at achieving specific economic goals, the documentary also recounts victories against this apparently invincible force.

Although corporations are legally a person (see history below), they are in fact an entity. The sole goal of that entity is profit. There is no corporate conscience. Some of the CEO's in the film discuss how all the people in the corporations are against pollution and so on, but by law stockholder profit must be the objective. Now these entities are global operations with no loyalty to their country of origin.

Perhaps it would be useful to look at the nature of our global expansion. The global expanse of US military bases is well-known, but its actual territorial empire is largely hidden. The true map of America is not taught in our schools. Abby Martin interviews history Professor Daniel Immerwahr about his new book, ' How To Hide An Empire ,' where he documents the story of our "Greater United States." This is worth the 40 minute watch...I learned several new things. One more long clip. However this one is fine to just listen to as you do things. This is a wonderful interview with Noam Chomsky. The man exudes wisdom.

https://www.youtube.com/watch?v=yuVqfKYbGvE (2 hour 5 min)

So much of this conversation touches on today's topic of our corporate capture. Amy interviewed Ed Snowden this week... (video or text)

This is a system, the first system in history, that bore witness to everything. Every border you crossed, every purchase you make, every call you dial, every cell phone tower you pass, friends you keep, article you write, site you visit and subject line you type was now in the hands of a system whose reach is unlimited but whose safeguards were not. And I felt, despite what the law said, that this was something that the public ought to know.

https://www.democracynow.org/2019/12/5/edward_snowden_amy_goodman_interv...

The oligarchy has been with us since perhaps the tribal origins of our species, but the corporation is a newer phenomenon. A faceless, soulless profit machine. Ironically it is the 14th amendment which is used to justify corporate person-hood.

Corporations aren't specifically mentioned in the 14th Amendment, or anywhere else in the Constitution. But going back to the earliest years of the republic, when the Bank of the United States brought the first corporate rights case before the Supreme Court, U.S. corporations have sought many of the same rights guaranteed to individuals, including the rights to own property, enter into contracts, and to sue and be sued just like individuals.

But it wasn't until the 1886 case Santa Clara County v. Southern Pacific Rail Road that the Court appeared to grant a corporation the same rights as an individual under the 14th Amendment

https://www.history.com/news/14th-amendment-corporate-personhood-made-co...

More recently in 2010 (Citizens United v. FEC): In the run up to the 2008 election, the Federal Elections Commission blocked the conservative nonprofit Citizens United from airing a film about Hillary Clinton based on a law barring companies from using their funds for "electioneering communications" within 30 days of a primary or 60 days of a general election. The organization sued, arguing that, because people's campaign donations are a protected form of speech (see Buckley v. Valeo) and corporations and people enjoy the same legal rights, the government can't limit a corporation's independent political donations. The Supreme Court agreed. The Citizens United ruling may be the most sweeping expansion of corporate personhood to date.
https://www.motherjones.com/politics/2014/07/how-supreme-court-turned-co...

Do they really believe this is how we think?

More than just using the courts, corporations are knee deep in creating favorable laws, not just by lobbying, but by actually writing legislation to feed the politicians that they own and control, especially at the state level.

Through ALEC, Global Corporations Are Scheming to Rewrite YOUR Rights and Boost THEIR Revenue. Through the corporate-funded American Legislative Exchange Council, global corporations and state politicians vote behind closed doors to try to rewrite state laws that govern your rights. These so-called "model bills" reach into almost every area of American life and often directly benefit huge corporations.

In ALEC's own words, corporations have "a VOICE and a VOTE" on specific changes to the law that are then proposed in your state. DO YOU? Numerous resources to help us expose ALEC are provided below. We have also created links to detailed discussions of key issues...

https://www.alecexposed.org/wiki/ALEC_Exposed

Here's an attempt by a local station to tell the story of a Georgia session of legislators and ALEC lobbyists. https://www.youtube.com/watch?v=K3yIbxydlHY (6 min)

There is very little effort to hide the blatant corruption. People seem to accept this behavior as business as usual, after all it is.

Part of the current ALEC legislative agenda involves stifling protests.

I think it started in Texas...

A bill making its way through the Texas legislature would make protesting pipelines a third-degree felony, the same as attempted murder.
H.B. 3557, which is under consideration in the state Senate after passing the state House earlier this month, ups penalties for interfering in energy infrastructure construction by making the protests a felony. Sentences would range from two to 10 years.

https://www.ecowatch.com/texas-bill-pipeline-protests-felony-2637605986....
It is now law. Other states are following suit...

Lawmakers in Wisconsin introduced a bill on September 5 designed to chill protests around oil and gas pipelines and other energy infrastructure in the state by imposing harsh criminal penalties for trespassing on or damaging the property of a broad range of "energy providers."

Senate Bill 386 echoes similar "critical infrastructure protection" model bills pushed out by the American Legislative Exchange Council (ALEC) and the Council of State Governments over the last two years to prevent future protests like the one against the Dakota Access Pipeline.

https://www.exposedbycmd.org/2019/09/16/wisconsin-legislators-seek-crimi...

These activities are taking place in most states...especially red ones like mine.

When TPTB use government to play chess with the countries of the world havoc ensues...

Abby and Mike were on Chris' show yesterday talking about Gaza and the US/Israeli effort at genocide. https://www.youtube.com/watch?v=gcsEYRt_jGY (28 min)

And Chris was on the evening RT news this week discussing how the US empire is striking back against leaders who help their own people rather than our global corporations.

https://www.youtube.com/watch?v=1P5G9S8flnY (6.5 min)

Lee Camp and Ben Norton also discussed how the US wants to own South America. https://www.youtube.com/watch?v=XLETst107M0 (1st 22 min)

This excellent article tells the story well...

Financially, the cost of these wars is immense: more than $6 trillion dollars. The cost of these wars is just one element of the $1.2 trillion the US government spends annually on wars and war making. Half of each dollar paid in federal income tax goes towards some form or consequence of war . While the results of such spending are not hard to foresee or understand: a cyclical and dependent relationship between the Pentagon, weapons industry and Congress, the creation of a whole new class of worker and wealth distribution is not so understood or noticed, but exists and is especially malignant.

This is a ghastly redistribution of wealth, perhaps unlike any known in modern human history, certainly not in American history. As taxpayers send trillions to Washington. DC, that money flows to the men and women that remotely oversee, manage and staff the wars that kill and destroy millions of lives overseas and at home. Hundreds of thousands of federal employees and civilian contractors servicing the wars take home six figure annual salaries allowing them second homes, luxury cars and plastic surgery, while veterans put guns in their mouths, refugees die in capsized boats and as many as four million nameless souls scream silently in death.

These AUMFs (Authorization for Use of Military Force) and the wars have provided tens of thousands of recruits to international terror groups; mass profits to the weapons industry and those that service it; promotions to generals and admirals, with corporate board seats upon retirement ; and a perpetual and endless supply of bloody shirts for politicians to wave via an unquestioning and obsequious corporate media to stoke compliant anger and malleable fear. What is hard to imagine, impossible even, is anyone else who has benefited from these wars.

https://www.counterpunch.org/2019/12/06/authorizations-for-madness-the-e...

The United States is home to five of the world's 10 largest defense contractors, and American companies account for 57 percent of total arms sales by the world's 100 largest defense contractors, based on SIPRI data. Maryland-based Lockheed Martin, the largest defense contractor in the world, is estimated to have had $44.9 billion in arms sales in 2017 through deals with governments all over the world. The company drew public scrutiny after a bomb it sold to Saudi Arabia was dropped on a school bus in Yemen, killing 40 boys and 11 adults. Lockheed's revenue from the U.S. government alone is well more than the total annual budgets of the IRS and the Environmental Protection Agency, combined.

http://news.nidokidos.org/military-spending-20-companies-profiting-the-m... For a list of the 20 companies profiting most off war... https://themindunleashed.com/2019/03/20-companies-profiting-war.html

The obvious industry which was not included nor considered is the fossil fuel industry. Here's another example of mutual corporate interests.

"Capitalism, militarism and imperialism are disastrously intertwined with the fossil fuel economy .A globalized economy predicated on growth at any social or environmental costs, carbon dependent international trade, the limitless extraction of natural resources, and a view of citizens as nothing more than consumers cannot be the basis for tackling climate change .Little wonder then that the elites have nothing to offer beyond continued militarisation and trust in techno-fixes."

-- Nick Buxton and Ben Hayes
https://www.counterpunch.org/2019/07/05/doubling-down-the-military-big-b...

The US military is one of the largest consumers and emitters of carbon-dioxide equivalent (CO2e) in history, according to an independent analysis of global fuel-buying practices of a "virtually unresearched" government agency.
If the US military were its own country, it would rank 47th between Peru and Portugal in terms of annual fuel purchases, totaling almost 270,000 barrels of oil bought every day in 2017. In particular, the Air Force is the largest emitter of greenhouse gas emissions and bought $4.9 billion of fuel in 2017 – nearly double that of the Navy ($2.8 billion).

https://www.iflscience.com/environment/us-military-ranks-higher-in-green...

The fossil fuel giants even try to control the climate talks...

Oil and gas groups were accused Saturday of seeking to influence climate talks in Madrid by paying millions in sponsorship and sending dozens of lobbyists to delay what scientists say is a necessary and rapid cut in fossil fuel use.

https://www.rawstory.com/2019/12/fossil-fuel-groups-destroying-climate-t...

The corporations are so entwined that it is difficult to tell where they begin and end. There's the unity of private prisons and the war machine. And it's a global scheme...this example from the UK.

One thing is clear: the prison industrial complex and the global war machine are intimately connected. This summer's prison strike that began in the United States and spread to other countries was the largest in history. It shows more than ever that prisoners are resisting this penal regime, often at great risk to themselves. The battle to end prison slavery continues.

https://corporatewatch.org/poppies-prison-labour-and-the-war-machine/

Then there was the corporate tax give away...

The 2017 tax bill cut taxes for most Americans, including the middle class, but it heavily benefits the wealthy and corporations . It slashed the corporate tax rate from 35 percent to 21 percent, and its treatment of "pass-through" entities -- companies organized as sole proprietorships, partnerships, LLCs, or S corporations -- will translate to an estimated $17 billion in tax savings for millionaires this year. American corporations are showering their shareholders with stock buybacks, thanks in part to their tax savings.

https://www.vox.com/policy-and-politics/2018/12/18/18146253/tax-cuts-and...

Even Robert Jackson Jr., commissioner at the Securities and Exchange Commission. Appointed to the SEC in 2017 by President Donald Trump. Confirmed in January 2018 sees the corporate cuts as absurd.

"We have been to the movie of tax cuts and buybacks before, in the Republican administration during the George W. Bush era. We enacted a quite substantial tax cut during that period. And studies after that showed very clearly that most corporations use the funds from that tax cut for buybacks. And here's the kicker. That particular tax cut actually required that companies deploy the capital for capital expenditures, wage increases and investments in their people. Yet studies showed that, in fact, the companies use them for buybacks. So we've been to this movie before. And what you're describing to me, that corporations turned around and took the Trump tax cut and didn't use it in investing in their people or in infrastructure, but instead for other purposes, shouldn't surprise anybody at all."

https://www.wbur.org/onpoint/2019/11/18/corporations-stock-buybacks-sec-...

So the corporations grow larger, wealthier, more powerful, buying evermore legislative influence along the way. They have crept into almost every aspect of our lives. Some doctors are beginning to see the influence of big pharma and other corporate interests are effecting the current practice of medicine.

Gary Fettke is a doctor from Tasmania who has been targeted for promoting a high fat low carb diet...threatened with losing his medical qualifications. He doesn't pull punches in this presentation discussing the corporate control of big ag/food and big pharma on medical practice and education. (27 min)

Comments

detroitmechworks on Sun, 12/08/2019 - 8:28am

Corporations are Religions Yes they are. They have ethics, goals, and priests. They have a god who determines everything "The Invisible Hand". They believe themselves to be superior to the state. They have cult garb, or are we not going to pretend that there's corporate dress codes, right down to the things you can wear on special days of the week. They determine what you can eat, drink and read. If you say something wrong, they feel within their rights to punish you because they OWN the medium that you used to spread ideas. OF course they don't own your thoughts... those belong to the OTHER god.

At least the crazy made up gods that I listen to don't usually fuck over other human beings for a goddamn percentage. ON the other hand, if a corporation can make a profit, it's REQUIRED to fuck you over. To do otherwise would be against it's morals. Which it does have, trust us... OH, and corporations get to make fun of your beliefs, but you CANNOT make fun of theirs. Because that would be heresy against logic and reason.

www.youtube.com/embed/uGDA0Hecw1k?modestbranding=0&html5=1&rel=0&autoplay=0&wmode=opaque&loop=0&controls=1&autohide=0&showinfo=0&theme=dark&color=red&enablejsapi=0

Lookout on Sun, 12/08/2019 - 8:37am
yes indeed, they are superior to the state...

@detroitmechworks

In the film Secret State they (fossil fuel) admit it. Here's the trailer...(1.5 min)
https://www.youtube.com/watch?v=uCYjbux_dCM

You can watch the series if anyone has an interest. Start here...there are about 6 episodes.
https://www.youtube.com/watch?v=3aeZT6IXCUg (42 min)

Good spy thriller.

Nice to see you around the site again. Thanks for visiting this piece.

QMS on Sun, 12/08/2019 - 8:39am
A recent front page item

In a local newspaper showed a couple coming out of a Wal-Mart with their carts piled high with big boxed foreign junk, then shown cramming their SUV full of said junk. The headline read "Crazy Busy". It pretty much summed up what is wrong with the American consumer culture. The next day's big headline spotlighted our senator's picture affixed to a LARGE headline boasting "$22 Billion Submarine Contract Awarded". A good example of of what is wrong with the american war economy.

Thank you for your compilation Lookout! If we can get beyond the headlines, working at grass root and local solutions, maybe even underground revolution, there may be hope for us. Barter for a better future.

Lookout on Sun, 12/08/2019 - 9:06am
Let's hope we trade up for something better

@QMS

My buddies always say about their mayor..."There's no way we will trade down after this election...but then we do." Perhaps it is true for more than just their town.

The line running in my head is..."What if they gave a war and nobody came". I want to expand it to..."What if they made cheap junk no one really wanted and nobody bought it". Or substitute junk food for cheap junk, or...

My point in today's conclusion is much as I try to walk away from corporate culture/control, I really can't totally escape...but at least I spend most of my time in the open, breathing clean air, surrounded by forest. We do what we can.

Onward through the fog...

Raggedy Ann on Sun, 12/08/2019 - 8:58am
Good Sunday morning, Lookout ~~

Consumerism in our society is a plague, a disease perpetrated upon us by our corporate lords. It has taken over everything about being an American.

I think the youth are catching on, as they are thrifting more, but they don't understand about food, and that's the rub. Our youth will be more unhealthy until they understand what corporations are doing to us through food addictions.

We're expecting rain today for most of the day and actually it's just started. The person who will drill our well came by yesterday and figured out some details. We are behind two other wells, so it will probably be the holiday week when it happens - we'll see. I can wait til January and hope we do.

Have a lovely Sunday, everyone!

Lookout on Sun, 12/08/2019 - 9:10am
best of luck with your well!

@Raggedy Ann

That's an exciting project. Keep us posted. I hope y'all have a great holiday break. Enjoy your time....the most valuable thing we have!

davidgmillsatty on Sun, 12/08/2019 - 9:09am
The main reason I am not enamored with Sander's economic

Ideas is that new deal of FDR's day had corporate opponents far different than those of today. Sanders does not seem to understand that the corporations of yesterday, and what worked against them, will not work against the corporations of today. In the early part of the 20th century, corporations were still primarily domestic and local often with charters from the state where they conducted their primary business, many times all of their business.

Regulation and unions were reasonable anti-dotes to the abuses of these local and domestic corporations. The state still had some semblance of control over them.

But today corporations are global. They have no allegiance to, or concern for the domestic economy or local people. They do not fear of any anti-dotes that worked for years against domestic or local corporations. Global corporations just leave and go elsewhere if they don't like the domestic or local situation if they have not managed to completely take over the government.

There is only one reason to incorporate in the first place. That is for the owner(s) of the business to avoid personal liability or responsibility. The majority of people never understand this idea. Corporate owners are the people who are the genuine personal responsibility avoiders. Not the poor. The only antidote to corporations these days is the total demise of the corporation and its similar business entities that dodge personal responsibility. And the state must refuse to allow any such entities to do business. It is the only way forward. Otherwise nation states will give way to corporate states. Corporate governance is the new feudalism from which the old feudalism morphed.

Sanders isn't going to advocate doing away with corporate entities or other similar business entities. Nor will any of the Democratic contenders. They all require corporations to rail against as the basis for their political policy.

Lookout on Sun, 12/08/2019 - 9:19am
corporate power is formative

@davidgmillsatty

...and I've always wondered just how Bernie would dismantle them. However like the impotence of the impeachment, is the impotence of the primary process.

When the DNC was sued after 2016, they were exonerated based on the ruling they were a private entity entitled to make rules as the wanted. The primary is so obviously rigged I can almost guarantee Bernie will not be allowed the nomination, so the question to how he would change corporate control is really moot.

Thanks for your thoughtful comment.

davidgmillsatty on Sun, 12/08/2019 - 10:56am
Sanders Winning the Nomination

@Lookout I probably could get on board with a Sanders campaign if he would run as an Independent. But it is really hard to get on board with him as a Democrat. If he loses the nomination, he will probably not run as an Independent once again. Once he bailed on an Independent run last time, I and many others bailed on him. I would support his Independent candidacy just to screw with the Electoral College. I thought last time an independent candidacy might have thrown the election to the House of Representatives. I could see a Democratically controlled House voting for him over Trump in a three way EC split if the Democratic candidate took low EC numbers.

But he is so afraid of being tarred with the Nader moniker.

What I said many times on websites last election is that an EC vote is very similar to a Parliamentary Election. And that would be an interesting change for sure. It would also be a means of having the popular vote winner restored if there is a big enough margin in the House. And what would be equally cool is that the Senate picks the VP. So you could have President and VP from different parties.

Lookout on Sun, 12/08/2019 - 10:32am
in some alternate universe...

@davidgmillsatty

if Bernie got the nomination, I would vote for him, especially in this imaginary world, if Tulsi was his running mate. Then there the question about your vote being counted? We'll just have to see what we see and make judgements based on outcomes, IMO.

#4.1 I probably could get on board with a Sanders campaign if he would run as an Independent. But it is really hard to get on board with him as a Democrat. If he loses the nomination, he will probably not run as an Independent once again. Once he bailed on an Independent run last time, I and many others bailed on him. I would support his Independent candidacy just to screw with the Electoral College. I thought last time an independent candidacy might have thrown the election to the House of Representatives. I could see a Democratically controlled House voting for him over Trump in a three way EC split if the Democratic candidate took low EC numbers.

But he is so afraid of being tarred with the Nader moniker.

What I said many times on websites last election is that an EC vote is very similar to a Parliamentary Election. And that would be an interesting change for sure. It would also be a means of having the popular vote winner restored if there is a big enough margin in the House. And what would be equally cool is that the Senate picks the VP. So you could have President and VP from different parties.

davidgmillsatty on Sun, 12/08/2019 - 11:01am
The more I think about this

@Lookout The only way the Democrats might beat Trump is to have Sanders run as an Independent and prevent Trump from reaching 270. That is a far better way to beat Trump than impeachment. Would the house vote for the Democrat or an Independent? I guess it would depend on how Sanders did in the popular vote and EC against his Democratic rival.

#4.1.1
if Bernie got the nomination, I would vote for him, especially in this imaginary world, if Tulsi was his running mate. Then there the question about your vote being counted? We'll just have to see what we see and make judgements based on outcomes, IMO.

TheOtherMaven on Sun, 12/08/2019 - 2:06pm
And who that rival was!

@davidgmillsatty @davidgmillsatty

If it was Hillary "Dewey Cheatem & Howe" Clinton, all bets are off.

#4.1.1.1 The only way the Democrats might beat Trump is to have Sanders run as an Independent and prevent Trump from reaching 270. That is a far better way to beat Trump than impeachment. Would the house vote for the Democrat or an Independent? I guess it would depend on how Sanders did in the popular vote and EC against his Democratic rival.

Lookout on Sun, 12/08/2019 - 2:48pm
The $hill was on Howard Stern this week...

@TheOtherMaven

//www.youtube.com/embed/LhxMvmX9WlA?modestbranding=0&html5=1&rel=0&autoplay=0&wmode=opaque&loop=0&controls=1&autohide=0&showinfo=0&theme=dark&color=red&enablejsapi=0

snoopydawg on Sun, 12/08/2019 - 3:18pm
Howard effin Stern indeed

@Lookout

Good lord.that she did that is unbelievable. Great point. Boycott Fox News, but go on Stern's show. It's going to be fun to watch how much lower she falls.

Lookout on Sun, 12/08/2019 - 3:30pm
The depth of her corruption is unfathomable

@snoopydawg

AE maybe be correct that they will pull her from behind the curtain and anoint her to run again. But I sure hope not!

snoopydawg on Sun, 12/08/2019 - 3:31pm
More lying about Bernie not supporting Hillary

@Lookout

MSNBC invited on two former Hillary Clinton aides to criticize Bernie Sanders for taking a "long time to get out of the race" and that he didn't do "enough" campaigning for her in 2016. pic.twitter.com/6Vsqo0DKZI

-- Ibrahim (@ibrahimpols) December 8, 2019

Come on Bernie call this crap out.

davidgmillsatty on Sun, 12/08/2019 - 6:08pm
The Way that would work in the House of Reps

@TheOtherMaven They have to choose from actual EC vote getters. So if she is not the candidate she could not win.

Having Sanders run as an Independent and Warren or Biden run as a Democrat would be a much better strategy to ensure a Trump loss in the House. Of course it might take some coordination as in asking the voters to vote for the candidate who has the best chance of beating Trump in certain states. But voters could probably figure that out.

Or a candidate could just withdraw from a state in which the other candidate had a better chance of beating Trump.

QMS on Sun, 12/08/2019 - 9:27am
Dig it

@irishking @irishking
What to do?Dance in the streets! //www.youtube.com/embed/9KhbM2mqhCQ

Lookout on Sun, 12/08/2019 - 9:27am
Do you think the bear went over the mountain...

@irishking

refers to RUSSIA!!! (Just joking) Thanks for the song. Here's one from 1929 back atcha! Thanks for the visit. //www.youtube.com/embed/pDOwDi2jlk0

jakkalbessie on Sun, 12/08/2019 - 10:15am
So much to think about

Lookout as usual you have done an excellent job of giving me a lot of articles to read and think about this next week.

Of course I need to be loading my car and shutting this place down as I head to the Texas hill country. Will look for an article about Kinder Morgan and small communities that are fighting the pipeline through their towns. The read was a little hopeful.

Watching the weather and it looks like sunshine and clear skies as I travel. Thanks for all your work in putting this together.

Lookout on Sun, 12/08/2019 - 10:27am
My buddy JU Lee wrote a song...

@jakkalbessie

I like to travel on the old roads.

There's not a youtube, but the chorus goes:

I like to travel on the old roads
I like the way it makes me feel
No destination just the old roads
Somehow it helps the heart to heal.

I hope your road trip is a good one. The less busy tracks are almost meditative....soaking in scenery as the world passes by.

Have fun and be careful.

Lookout as usual you have done an excellent job of giving me a lot of articles to read and think about this next week.

Of course I need to be loading my car and shutting this place down as I head to the Texas hill country. Will look for an article about Kinder Morgan and small communities that are fighting the pipeline through their towns. The read was a little hopeful.

Watching the weather and it looks like sunshine and clear skies as I travel. Thanks for all your work in putting this together.

ggersh on Sun, 12/08/2019 - 11:06am
Nice work Lookout

Here are a couple of links to how free markets help in the corporate takeover. Amazon a corp that has only made a profit by never paying taxes and accounting fraud. It became a trillion dollar corp through the use of monopoly money(stock) it's nothing but the perfect example of todays "unicorn" corp, i.e. worth what it is w/out ever making a penny

Lookout on Sun, 12/08/2019 - 11:26am
The free market created the private prison industry too

@ggersh

Not so free really is it? Amazon is certainly a monster...now hosting the CIA/MIC cloud as well as owning the WaPo.

Snode on Sun, 12/08/2019 - 11:45am
Corporations are not people

Corporations can live far beyond a persons lifespan. Corporations can commit homicide and escape execution and justice. Unfortunately, unions are just as likely to be on the corporations side to get jobs and wages, and bust heads if anything interferes with that.

If we protest we've seen the police ready to use deadly force at the drop of a hat, and get away with it. We get to vote on candidates that some political club chose for us, and have little incentive to work for the 99%. The gov. has amassed so much information on us we can't even fathom its depth. We have nowhere left, no unexplored lands out of reach of the government. We think we own things, but if you think you own a home, see how long it is before the gov. confiscates it if you don't pay your property taxes.

If I were younger, or a young person asked what to do, I would say.... learn some skill that would make you attractive for emigrating to another country, because the US looks like it's over. It's people are only here to be exploited. And if Bernie were to become president I hope he gets a food taster.

Lily O Lady on Sun, 12/08/2019 - 1:27pm
Corporations are worldwide entities now. No where to

@Snode

run to. No where to hide. As in the U.K., corporations are seeking to to dismantle the NHS and turn it into a for-profit system like ours. Even as the gilllet-jaune protesters risk life and limb, Macron seeks to install true neoliberalism in France. And the beat goes on.

snoopydawg on Sun, 12/08/2019 - 5:41pm
Yep you nailed it

@Snode

Corporations can live far beyond a persons lifespan. Corporations can commit homicide and escape execution and justice.

Look at what chevron did to people in Borapol. I'm sure I spelled this wrong but hopefully people will know what I'm talking about. They killed lots of people and poisoned their land for decades and the fight over it is still going on. How many decades more will chevron get to skirt justice? Banks continue to commit fraud and they only get little fines that don't do jack to keep them from doing it again. Even cities are screwing people. Owe a few dollars on your property taxes and they will take your home and sell it for pennies on the dollar. How in hell can it be legal to charge people over 600% interest? What happened to usury rules if that's the correct term.

Lookout on Sun, 12/08/2019 - 5:51pm
They've done it all over the world...

@snoopydawg

The International Court of Justice at The Hague ruled last week that a prior ruling by an Ecuadorean court that fined Chevron $9.5 billion in 2011 should be upheld, according to teleSUR, a Latin American news agency. Texaco, which is currently a part of Chevron, is responsible for what is considered one of the world's largest environmental disasters while it drilled for oil in the Ecuadorian rainforest from 1964 to 1990.
https://www.ecowatch.com/will-chevron-and-exxon-ever-be-held-responsible...

snoopydawg on Sun, 12/08/2019 - 7:13pm
It's just unbelievable that they can still dodge responsibilit

@Lookout

for decades of polluting and killing.

The legal battle has been tied up in the courts for years. Ecuador's highest court finally upheld the ruling in January 2014, but Chevron refused to pay.

This is another thing that corporations get away with. Contaminating land and then just walking away from it. How many superfund sites have we had to pay for instead of the ones who created the mess. Just declared bankruptcy and walked away. Corporations are people? Fine then they should be held as accountable as the people in the lower classes. Fat chance though right?

Lily O Lady on Sun, 12/08/2019 - 6:01pm
Union Carbide India was responsible for the Bopal disaster.
snoopydawg on Sun, 12/08/2019 - 7:16pm
Thanks for the save

@Lily O Lady

Weren't people killed by a gas cloud released from the plant? I read something recently that said the case is still going through the courts. How much money have they spent trying not to spend more?

snoopydawg on Sun, 12/08/2019 - 12:27pm
7 year old concerned about the Uighers

//www.youtube.com/embed/wGq0xVh6UJw?modestbranding=0&html5=1&rel=0&autoplay=0&wmode=opaque&loop=0&controls=1&autohide=0&showinfo=0&theme=dark&color=red&enablejsapi=0

Lookout on Sun, 12/08/2019 - 12:36pm
The comments are supportive of Tulsi

@snoopydawg

....and no I had not seen that clip. Tulsi impresses me in many ways and the manner in which she treats this child is an example.

Especially as compared to Joe ByeDone's adolescent behavior...

//www.youtube.com/embed/mKV0oAPENdg?modestbranding=0&html5=1&rel=0&autoplay=0&wmode=opaque&loop=0&controls=1&autohide=0&showinfo=0&theme=dark&color=red&enablejsapi=0

snoopydawg on Sun, 12/08/2019 - 1:09pm
Ugh

@Lookout @Lookout

Byedone just needs to pack it in and drop out already. Today he was defending the republican party after someone said something about them needing to go away. Joe said that we need another party so one does not get more power than the other. Yeah right, Joe. It's not like the Pubs are already weilding power they don't have and them dems cowering and supporting them.

Newsweek reporter quit after being censored on the OPCW story.

I have collected evidence of how they suppressed the story in addition to evidence from another case where info inconvenient to US govt was removed, though it was factually correct.

-- Tareq Haddad (@Tareq_Haddad) December 7, 2019

ANd great news for Max Bluementhal!!

BREAKING: The US government has DROPPED ITS BOGUS CASE against me and @NotConq .

I was hauled out of my house by a team of cops, jailed for two days, and maliciously defamed due to the lies of the US-backed Venezuelan opposition.

I plan to seek justice. https://t.co/Wm7Yl8cL2T

-- Max Blumenthal (@MaxBlumenthal) December 7, 2019

Thanks for the wound up, LO. Lots of great stuff here to go back and digest.

#9

....and no I had not seen that clip. Tulsi impresses me in many ways and the manner in which she treats this child is an example.

Especially as compared to Joe ByeDone's adolescent behavior...

data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==

Lookout on Sun, 12/08/2019 - 1:22pm
Glad to see Max vindicated

@snoopydawg

...thanks for the news.

Caity had a nice piece on Consortiumnews on the newsweek story...
https://consortiumnews.com/2019/12/08/journalist-newsweek-suppressed-opc...

Lily O Lady on Sun, 12/08/2019 - 1:44pm
Bipartisanship is big now. It's how politicians hide their dirty dealings.

@snoopydawg

First frustrate us with gridlock. Then pass bills benefiting the corporate overlords. Then leading up to elections pass bills like the one against animal cruelty (who doesn't love kitties and puppies?), or propose a bill to consider regulating cosmetics. This second bipartisan effort is glaringly cynical since no one apparently knows what is in beauty products. Sanders must have politicians worried for them to attempt something which has managed to go unregulated for so long.

All this bipartisanship is not even up to the level of rearranging the deck chairs on the Titanic. It's more like wiping at them with a dirty rag while the ship of state continues to sink. While animal cruelty and cosmetic safety are important issues, they pale in comparison to the systemic ills America suffers. Our fearless leaders will continue to scratch the surface while corruption and business as usual continue to fester. These bipartisan laws may look good on a politician's resume, but they won't really help the 99%.

CB on Sun, 12/08/2019 - 5:35pm
Looks like the PTB are starting to crank up

@snoopydawg
the propaganda to give NATO a raison d'être for a pivot to China. This will be doomed to complete failure just as the Russian pivot has.

But Putin and Xi Jinping are both much too skilled and intelligent to defeat. American WWE trash talkers are completely outclassed by an 8th dan in judo paired with a Sun Tzu scholar.

Tomoe nage - use your opponent's weight and aggression against him.

"If your enemy is secure at all points, be prepared for him. If he is in superior strength, evade him. If your opponent is temperamental, seek to irritate him. Pretend to be weak, that he may grow arrogant. If he is taking his ease, give him no rest. If his forces are united, separate them. If sovereign and subject are in accord, put division between them. Attack him where he is unprepared, appear where you are not expected ."
― Sun Tzu, The Art of War

Thank you Barack and Hillary...

CB on Sun, 12/08/2019 - 9:39pm
Neither Russia nor China want the US or US$ to collapse too quickly. It would be devastating for the entire world if it happened suddenly.

@Lookout
What they want is a controlled collapse. If they can get the US to continue to overspend on war mongering rather than programs of social uplift the country will rot from the inside.

"A nation that continues year after year to spend more money on military defense than on programs of social uplift is approaching spiritual death." - Martin Luther King, Jr.

Meanwhile, back in the Motherland: //www.youtube.com/embed/acPgB_rhdfA

Lookout on Sun, 12/08/2019 - 3:25pm
corporate corruption is low fanging fruit

@Pluto's Republic

So much more to say really. Had to stop somewhere but as you know the corruption runs deep and is intermixed with the CIA/FBI/MIC corporate government under which we live.

On we go as best we can!

There is great dignity in the objective truth. Perhaps because it never flows through the contaminated minds of the unworthy.

smiley7 on Sun, 12/08/2019 - 7:43pm
Excellent Watch, Lookout,

Corporate charters were initially meant to be for the public good if i'm not mistaken in recall, it was a trade-off for their privilege to exist. Maybe a movement political leader could highlight this and move the pendulum back to accountability.

Had a conversation with good friend today, a 3M rep, and he was griping about his competitor's shady marketing product practices apparently lying to manufacturers about the grades and contents of their competing products.

smiley7 on Sun, 12/08/2019 - 7:53pm
A timely piece to go with your conversation of today:

https://www.theguardian.com/us-news/2019/dec/07/kochland-review-koch-bro...

Battle of Blair... on Mon, 12/09/2019 - 8:37am
I want that flag.

Where can I buy that flag? I will raise it and sing the corporate anthem

"God bless Generica.
Land that is owned.
By the wealthy, unhealthy
As that might be for those being pwnd.

From the Walmart to McDonalds to the corner Dominooooos.
God Bless Generica
My high rent home.

[Feb 24, 2020] Globalisation: the rise and fall of an idea that swept the world by Nikil Saval

Feb 03, 2017 | www.theguardian.com

It's not just a populist backlash – many economists who once swore by free trade have changed their minds, too. How had they got it so wrong?

Share on Facebook Share on Twitter Share via Email T he annual January gathering of the World Economic Forum in Davos is usually a placid affair: a place for well-heeled participants to exchange notes on global business opportunities, or powder conditions on the local ski slopes, while cradling champagne and canapes. This January, the ultra-rich and the sparkling wine returned, but by all reports the mood was one of anxiety, defensiveness and self-reproach.

The future of economic globalisation, for which the Davos men and women see themselves as caretakers, had been shaken by a series of political earthquakes. "Globalisation" can mean many things, but what lay in particular doubt was the long-advanced project of increasing free trade in goods across borders. The previous summer, Britain had voted to leave the largest trading bloc in the world. In November, the unexpected victory of Donald Trump , who vowed to withdraw from major trade deals, appeared to jeopardise the trading relationships of the world's richest country. Forthcoming elections in France and Germany suddenly seemed to bear the possibility of anti-globalisation parties garnering better results than ever before. The barbarians weren't at the gates to the ski-lifts yet – but they weren't very far.

In a panel titled Governing Globalisation , the economist Dambisa Moyo , otherwise a well-known supporter of free trade, forthrightly asked the audience to accept that "there have been significant losses" from globalisation. "It is not clear to me that we are going to be able to remedy them under the current infrastructure," she added. Christine Lagarde, the head of the International Monetary Fund, called for a policy hitherto foreign to the World Economic Forum : "more redistribution". After years of hedging or discounting the malign effects of free trade, it was time to face facts: globalisation caused job losses and depressed wages, and the usual Davos proposals – such as instructing affected populations to accept the new reality – weren't going to work. Unless something changed, the political consequences were likely to get worse.

The backlash to globalisation has helped fuel the extraordinary political shifts of the past 18 months. During the close race to become the Democratic party candidate, senator Bernie Sanders relentlessly attacked Hillary Clinton on her support for free trade . On the campaign trail, Donald Trump openly proposed tilting the terms of trade in favour of American industry. "Americanism, not globalism, shall be our creed," he bellowed at the Republican national convention last July. The vote for Brexit was strongest in the regions of the UK devastated by the flight of manufacturing. At Davos in January, British prime minister Theresa May, the leader of the party of capital and inherited wealth, improbably picked up the theme, warning that, for many, "talk of greater globalisation means their jobs being outsourced and wages undercut." Meanwhile, the European far right has been warning against free movement of people as well as goods. Following her qualifying victory in the first round of France's presidential election, Marine Le Pen warned darkly that "the main thing at stake in this election is the rampant globalisation that is endangering our civilisation."

It was only a few decades ago that globalisation was held by many, even by some critics, to be an inevitable, unstoppable force. "Rejecting globalisation," the American journalist George Packer has written, "was like rejecting the sunrise." Globalisation could take place in services, capital and ideas, making it a notoriously imprecise term; but what it meant most often was making it cheaper to trade across borders – something that seemed to many at the time to be an unquestionable good. In practice, this often meant that industry would move from rich countries, where labour was expensive, to poor countries, where labour was cheaper. People in the rich countries would either have to accept lower wages to compete, or lose their jobs. But no matter what, the goods they formerly produced would now be imported, and be even cheaper. And the unemployed could get new, higher-skilled jobs (if they got the requisite training). Mainstream economists and politicians upheld the consensus about the merits of globalisation, with little concern that there might be political consequences.

Back then, economists could calmly chalk up anti-globalisation sentiment to a marginal group of delusional protesters, or disgruntled stragglers still toiling uselessly in "sunset industries". These days, as sizable constituencies have voted in country after country for anti-free-trade policies, or candidates that promise to limit them, the old self-assurance is gone. Millions have rejected, with uncertain results, the punishing logic that globalisation could not be stopped. The backlash has swelled a wave of soul-searching among economists, one that had already begun to roll ashore with the financial crisis. How did they fail to foresee the repercussions?


I n the heyday of the globalisation consensus, few economists questioned its merits in public. But in 1997, the Harvard economist Dani Rodrik published a slim book that created a stir. Appearing just as the US was about to enter a historic economic boom, Rodrik's book, Has Globalization Gone Too Far?, sounded an unusual note of alarm.

Rodrik pointed to a series of dramatic recent events that challenged the idea that growing free trade would be peacefully accepted. In 1995, France had adopted a programme of fiscal austerity in order to prepare for entry into the eurozone; trade unions responded with the largest wave of strikes since 1968. In 1996, only five years after the end of the Soviet Union – with Russia's once-protected markets having been forcibly opened, leading to a sudden decline in living standards – a communist won 40% of the vote in Russia's presidential elections. That same year, two years after the passing of the North American Free Trade Agreement (Nafta), one of the most ambitious multinational deals ever accomplished, a white nationalist running on an "America first" programme of economic protectionism did surprisingly well in the presidential primaries of the Republican party.

What was the pathology of which all of these disturbing events were symptoms? For Rodrik, it was "the process that has come to be called 'globalisation'". Since the 1980s, and especially following the collapse of the Soviet Union, lowering barriers to international trade had become the axiom of countries everywhere. Tariffs had to be slashed and regulations spiked. Trade unions, which kept wages high and made it harder to fire people, had to be crushed. Governments vied with each other to make their country more hospitable – more "competitive" – for businesses. That meant making labour cheaper and regulations looser, often in countries that had once tried their hand at socialism, or had spent years protecting "homegrown" industries with tariffs.

Facebook Twitter Pinterest Anti-globalisation protesters in Seattle, 1999. Photograph: Eric Draper/AP

These moves were generally applauded by economists. After all, their profession had long embraced the principle of comparative advantage – simply put, the idea countries will trade with each other in order to gain what each lacks, thereby benefiting both. In theory, then, the globalisation of trade in goods and services would benefit consumers in rich countries by giving them access to inexpensive goods produced by cheaper labour in poorer countries, and this demand, in turn, would help grow the economies of those poorer countries.

But the social cost, in Rodrik's dissenting view, was high – and consistently underestimated by economists. He noted that since the 1970s, lower-skilled European and American workers had endured a major fall in the real value of their wages, which dropped by more than 20%. Workers were suffering more spells of unemployment, more volatility in the hours they were expected to work.

While many economists attributed much of the insecurity to technological change – sophisticated new machines displacing low-skilled workers – Rodrik suggested that the process of globalisation should shoulder more of the blame. It was, in particular, the competition between workers in developing and developed countries that helped drive down wages and job security for workers in developed countries. Over and over, they would be held hostage to the possibility that their business would up and leave, in order to find cheap labour in other parts of the world; they had to accept restraints on their salaries – or else. Opinion polls registered their strong levels of anxiety and insecurity, and the political effects were becoming more visible. Rodrik foresaw that the cost of greater "economic integration" would be greater "social disintegration". The inevitable result would be a huge political backlash.

As Rodrik would later recall, other economists tended to dismiss his arguments – or fear them. Paul Krugman , who would win the Nobel prize in 2008 for his earlier work in trade theory and economic geography, privately warned Rodrik that his work would give "ammunition to the barbarians".

It was a tacit acknowledgment that pro-globalisation economists, journalists and politicians had come under growing pressure from a new movement on the left, who were raising concerns very similar to Rodrik's. Over the course of the 1990s, an unwieldy international coalition had begun to contest the notion that globalisation was good. Called "anti-globalisation" by the media, and the "alter-globalisation" or "global justice" movement by its participants, it tried to draw attention to the devastating effect that free trade policies were having, especially in the developing world, where globalisation was supposed to be having its most beneficial effect. This was a time when figures such as the New York Times columnist Thomas Friedman had given the topic a glitzy prominence by documenting his time among what he gratingly called "globalutionaries" : chatting amiably with the CEO of Monsanto one day, gawking at lingerie manufacturers in Sri Lanka the next. Activists were intent on showing a much darker picture, revealing how the record of globalisation consisted mostly of farmers pushed off their land and the rampant proliferation of sweatshops. They also implicated the highest world bodies in their critique: the G7, World Bank and IMF. In 1999, the movement reached a high point when a unique coalition of trade unions and environmentalists managed to shut down the meeting of the World Trade Organization in Seattle.

In a state of panic, economists responded with a flood of columns and books that defended the necessity of a more open global market economy, in tones ranging from grandiose to sarcastic. In January 2000, Krugman used his first piece as a New York Times columnist to denounce the "trashing" of the WTO, calling it "a sad irony that the cause that has finally awakened the long-dormant American left is that of – yes! – denying opportunity to third-world workers".

Where Krugman was derisive, others were solemn, putting the contemporary fight against the "anti-globalisation" left in a continuum of struggles for liberty. "Liberals, social democrats and moderate conservatives are on the same side in the great battles against religious fanatics, obscurantists, extreme environmentalists, fascists, Marxists and, of course, contemporary anti-globalisers," wrote the Financial Times columnist and former World Bank economist Martin Wolf in his book Why Globalization Works. Language like this lent the fight for globalisation the air of an epochal struggle. More common was the rhetoric of figures such as Friedman, who in his book The World is Flat mocked the "pampered American college kids" who, "wearing their branded clothing, began to get interested in sweatshops as a way of expiating their guilt".

ss="rich-link"> Globalisation once made the world go around. Is it about to grind to a halt? Read more

Arguments against the global justice movement rested on the idea that the ultimate benefits of a more open and integrated economy would outweigh the downsides. "Freer trade is associated with higher growth and higher growth is associated with reduced poverty," wrote the Columbia University economist Jagdish Bhagwati in his book In Defense of Globalization. "Hence, growth reduces poverty." No matter how troubling some of the local effects, the implication went, globalisation promised a greater good.

The fact that proponents of globalisation now felt compelled to spend much of their time defending it indicates how much visibility the global justice movement had achieved by the early 2000s. Still, over time, the movement lost ground, as a policy consensus settled in favour of globalisation. The proponents of globalisation were determined never to let another gathering be interrupted. They stopped meeting in major cities, and security everywhere was tightened. By the time of the invasion of Iraq, the world's attention had turned from free trade to George Bush and the "war on terror," leaving the globalisation consensus intact.

Above all, there was a widespread perception that globalisation was working as it was supposed to. The local adverse effects that activists pointed to – sweatshop labour, starving farmers – were increasingly obscured by the staggering GDP numbers and fantastical images of gleaming skylines coming out of China. With some lonely exceptions – such as Rodrik and the former World Bank chief and Columbia University professor Joseph Stiglitz – the pursuit of freer trade became a consensus position for economists, commentators and the vast majority of mainstream politicians, to the point where the benefits of free trade seemed to command blind adherence. In a 2006 TV interview, Thomas Friedman was asked whether there was any free trade deal he would not support. He replied that there wasn't, admitting, "I wrote a column supporting the Cafta, the Caribbean Free Trade initiative. I didn't even know what was in it. I just knew two words: free trade."


I n the wake of the financial crisis, the cracks began to show in the consensus on globalisation, to the point that, today, there may no longer be a consensus. Economists who were once ardent proponents of globalisation have become some of its most prominent critics. Erstwhile supporters now concede, at least in part, that it has produced inequality, unemployment and downward pressure on wages. Nuances and criticisms that economists only used to raise in private seminars are finally coming out in the open.

A few months before the financial crisis hit, Krugman was already confessing to a "guilty conscience". In the 1990s, he had been very influential in arguing that global trade with poor countries had only a small effect on workers' wages in rich countries. By 2008, he was having doubts: the data seemed to suggest that the effect was much larger than he had suspected.

In the years that followed, the crash, the crisis of the eurozone and the worldwide drop in the price of oil and other commodities combined to put a huge dent in global trade. Since 2012, the IMF reported in its World Economic Outlook for October 2016 , trade was growing at 3% a year – less than half the average of the previous three decades. That month, Martin Wolf argued in a column that globalisation had "lost dynamism", due to a slackening of the world economy, the "exhaustion" of new markets to exploit and a rise in protectionist policies around the world. In an interview earlier this year, Wolf suggested to me that, though he remained convinced globalisation had not been the decisive factor in rising inequality, he had nonetheless not fully foreseen when he was writing Why Globalization Works how "radical the implications" of worsening inequality "might be for the US, and therefore the world". Among these implications appears to be a rising distrust of the establishment that is blamed for the inequality. "We have a very big political problem in many of our countries," he said. "The elites – the policymaking business and financial elites – are increasingly disliked . You need to make policy which brings people to think again that their societies are run in a decent and civilised way."

Facebook Twitter Pinterest Illustration by Nathalie Lees

That distrust of the establishment has had highly visible political consequences: Farage, Trump, and Le Pen on the right; but also in new parties on the left, such as Spain's Podemos, and curious populist hybrids, such as Italy's Five Star Movement . As in 1997, but to an even greater degree, the volatile political scene reflects public anxiety over "the process that has come to be called 'globalisation'". If the critics of globalisation could be dismissed before because of their lack of economics training, or ignored because they were in distant countries, or kept out of sight by a wall of police, their sudden political ascendancy in the rich countries of the west cannot be so easily discounted today.

Over the past year, the opinion pages of prestigious newspapers have been filled with belated, rueful comments from the high priests of globalisation – the men who appeared to have defeated the anti-globalisers two decades earlier. Perhaps the most surprising such transformation has been that of Larry Summers. Possessed of a panoply of elite titles – former chief economist of the World Bank, former Treasury secretary, president emeritus of Harvard, former economic adviser to President Barack Obama – Summers was renowned in the 1990s and 2000s for being a blustery proponent of globalisation. For Summers, it seemed, market logic was so inexorable that its dictates prevailed over every social concern. In an infamous World Bank memo from 1991 , he held that the cheapest way to dispose of toxic waste in rich countries was to dump it in poor countries, since it was financially cheaper for them to manage it. "The laws of economics, it's often forgotten, are like the laws of engineering," he said in a speech that year at a World Bank-IMF meeting in Bangkok. "There's only one set of laws and they work everywhere. One of the things I've learned in my short time at the World Bank is that whenever anybody says, 'But economics works differently here,' they're about to say something dumb."

Over the last two years, a different, in some ways unrecognizable Larry Summers has been appearing in newspaper editorial pages. More circumspect in tone, this humbler Summers has been arguing that economic opportunities in the developing world are slowing, and that the already rich economies are finding it hard to get out of the crisis. Barring some kind of breakthrough, Summers says, an era of slow growth is here to stay.

In Summers's recent writings, this sombre conclusion has often been paired with a surprising political goal: advocating for a "responsible nationalism". Now he argues that politicians must recognise that "the basic responsibility of government is to maximise the welfare of citizens, not to pursue some abstract concept of the global good".


O ne curious thing about the pro-globalisation consensus of the 1990s and 2000s, and its collapse in recent years, is how closely the cycle resembles a previous era. Pursuing free trade has always produced displacement and inequality – and political chaos, populism and retrenchment to go with it. Every time the social consequences of free trade are overlooked, political backlash follows. But free trade is only one of many forms that economic integration can take. History seems to suggest, however, that it might be the most destabilising one.

Nearly all economists and scholars of globalisation like to point to the fact that the economy was rather globalised by the early 20th century. As European countries colonised Asia and sub-Saharan Africa, they turned their colonies into suppliers of raw materials for European manufacturers, as well as markets for European goods. Meanwhile, the economies of the colonisers were also becoming free-trade zones for each other. "The opening years of the 20th century were the closest thing the world had ever seen to a free world market for goods, capital and labour," writes the Harvard professor of government Jeffry Frieden in his standard account, Global Capitalism: Its Fall and Rise in the 20th Century. "It would be a hundred years before the world returned to that level of globalisation."

In addition to military force, what underpinned this convenient arrangement for imperial nations was the gold standard. Under this system, each national currency had an established gold value: the British pound sterling was backed by 113 grains of pure gold; the US dollar by 23.22 grains, and so on. This entailed that exchange rates were also fixed: a British pound was always equal to 4.87 dollars. The stability of exchange rates meant that the cost of doing business across borders was predictable. Just like the eurozone today, you could count on the value of the currency staying the same, so long as the storehouse of gold remained more or less the same.

When there were gold shortages – as there were in the 1870s – the system stopped working. To protect the sanctity of the standard under conditions of stress, central bankers across the Europe and the US tightened access to credit and deflated prices. This left financiers in a decent position, but crushed farmers and the rural poor, for whom falling prices meant starvation. Then as now, economists and mainstream politicians largely overlooked the darker side of the economic picture.

In the US, this fuelled one of the world's first self-described "populist" revolts, leading to the nomination of William Jennings Bryan as the Democratic party candidate in 1896. At his nominating convention, he gave a famous speech lambasting gold backers: "You shall not press down upon the brow of labour this crown of thorns, you shall not crucify mankind upon a cross of gold." Then as now, financial elites and their supporters in the press were horrified. "There has been an upheaval of the political crust," the Times of London reported, "and strange creatures have come forth."

Businessmen were so distressed by Bryan that they backed the Republican candidate, William McKinley, who won partly by outspending Bryan five to one. Meanwhile, gold was bolstered by the discovery of new reserves in colonial South Africa. But the gold standard could not survive the first world war and the Great Depression. By the 1930s, unionisation had spread to more industries and there was a growing worldwide socialist movement. Protecting gold would mean mass unemployment and social unrest. Britain went off the gold standard in 1931, while Franklin Roosevelt took the US off it in 1933; France and several other countries would follow in 1936.

The prioritisation of finance and trade over the welfare of people had come momentarily to an end. But this wasn't the end of the global economic system.


T he trade system that followed was global, too, with high levels of trade – but it took place on terms that often allowed developing countries to protect their industries. Because, from the perspective of free traders, protectionism is always seen as bad, the success of this postwar system has been largely under-recognised.

Over the course of the 1930s and 40s, liberals – John Maynard Keynes among them – who had previously regarded departures from free trade as "an imbecility and an outrage" began to lose their religion. "The decadent international but individualistic capitalism, in the hands of which we found ourselves after the war, is not a success," Keynes found himself writing in 1933 . "It is not intelligent, it is not beautiful, it is not just, it is not virtuous – and it doesn't deliver the goods. In short, we dislike it, and we are beginning to despise it." He claimed sympathies "with those who would minimise, rather than with those who would maximise, economic entanglement among nations," and argued that goods "be homespun whenever it is reasonably and conveniently possible".

The international systems that chastened figures such as Keynes helped produce in the next few years – especially the Bretton Woods agreement and the General Agreement on Tariffs and Trade (Gatt) – set the terms under which the new wave of globalisation would take place.

The key to the system's viability, in Rodrik's view, was its flexibility – something absent from contemporary globalisation, with its one-size-fits-all model of capitalism. Bretton Woods stabilised exchange rates by pegging the dollar loosely to gold, and other currencies to the dollar. Gatt consisted of rules governing free trade – negotiated by participating countries in a series of multinational "rounds" – that left many areas of the world economy, such as agriculture, untouched or unaddressed. "Gatt's purpose was never to maximise free trade," Rodrik writes. "It was to achieve the maximum amount of trade compatible with different nations doing their own thing. In that respect, the institution proved spectacularly successful."

Facebook Twitter Pinterest Construction workers in Beijing, China. Photograph: Ng Han Guan/AP

Partly because Gatt was not always dogmatic about free trade, it allowed most countries to figure out their own economic objectives, within a somewhat international ambit. When nations contravened the agreement's terms on specific areas of national interest, they found that it "contained loopholes wide enough for an elephant to pass", in Rodrik's words. If a nation wanted to protect its steel industry, for example, it could claim "injury" under the rules of Gatt and raise tariffs to discourage steel imports: "an abomination from the standpoint of free trade". These were useful for countries that were recovering from the war and needed to build up their own industries via tariffs – duties imposed on particular imports. Meanwhile, from 1948 to 1990, world trade grew at an annual average of nearly 7% – faster than the post-communist years, which we think of as the high point of globalisation. "If there was a golden era of globalisation," Rodrik has written, "this was it."

Gatt, however, failed to cover many of the countries in the developing world. These countries eventually created their own system, the United Nations conference on trade and development (UNCTAD). Under this rubric, many countries – especially in Latin America, the Middle East, Africa and Asia – adopted a policy of protecting homegrown industries by replacing imports with domestically produced goods. It worked poorly in some places – India and Argentina, for example, where the trade barriers were too high, resulting in factories that cost more to set up than the value of the goods they produced – but remarkably well in others, such as east Asia, much of Latin America and parts of sub-Saharan Africa, where homegrown industries did spring up. Though many later economists and commentators would dismiss the achievements of this model, it theoretically fit Larry Summers's recent rubric on globalisation: "the basic responsibility of government is to maximise the welfare of citizens, not to pursue some abstract concept of the global good."

The critical turning point – away from this system of trade balanced against national protections – came in the 1980s. Flagging growth and high inflation in the west, along with growing competition from Japan, opened the way for a political transformation. The elections of Margaret Thatcher and Ronald Reagan were seminal, putting free-market radicals in charge of two of the world's five biggest economies and ushering in an era of "hyperglobalisation". In the new political climate, economies with large public sectors and strong governments within the global capitalist system were no longer seen as aids to the system's functioning, but impediments to it.

Not only did these ideologies take hold in the US and the UK; they seized international institutions as well. Gatt renamed itself as the World Trade Organization (WTO), and the new rules the body negotiated began to cut more deeply into national policies. Its international trade rules sometimes undermined national legislation. The WTO's appellate court intervened relentlessly in member nations' tax, environmental and regulatory policies, including those of the United States: the US's fuel emissions standards were judged to discriminate against imported gasoline, and its ban on imported shrimp caught without turtle-excluding devices was overturned. If national health and safety regulations were stricter than WTO rules necessitated, they could only remain in place if they were shown to have "scientific justification".

The purest version of hyperglobalisation was tried out in Latin America in the 1980s. Known as the "Washington consensus", this model usually involved loans from the IMF that were contingent on those countries lowering trade barriers and privatising many of their nationally held industries. Well into the 1990s, economists were proclaiming the indisputable benefits of openness. In an influential 1995 paper, Jeffrey Sachs and Andrew Warner wrote: "We find no cases to support the frequent worry that a country might open and yet fail to grow."

But the Washington consensus was bad for business: most countries did worse than before. Growth faltered, and citizens across Latin America revolted against attempted privatisations of water and gas. In Argentina, which followed the Washington consensus to the letter, a grave crisis resulted in 2002 , precipitating an economic collapse and massive street protests that forced out the government that had pursued privatising reforms. Argentina's revolt presaged a left-populist upsurge across the continent: from 1999 to 2007, leftwing leaders and parties took power in Brazil, Venezuela, Bolivia and Ecuador, all of them campaigning against the Washington consensus on globalisation. These revolts were a preview of the backlash of today.


R odrik – perhaps the contemporary economist whose views have been most amply vindicated by recent events – was himself a beneficiary of protectionism in Turkey. His father's ballpoint pen company was sheltered under tariffs, and achieved enough success to allow Rodrik to attend Harvard in the 1970s as an undergraduate. This personal understanding of the mixed nature of economic success may be one of the reasons why his work runs against the broad consensus of mainstream economics writing on globalisation.

"I never felt that my ideas were out of the mainstream," Rodrik told me recently. Instead, it was that the mainstream had lost touch with the diversity of opinions and methods that already existed within economics. "The economics profession is strange in that the more you move away from the seminar room to the public domain, the more the nuances get lost, especially on issues of trade." He lamented the fact that while, in the classroom, the models of trade discuss losers and winners, and, as a result, the necessity of policies of redistribution, in practice, an "arrogance and hubris" had led many economists to ignore these implications. "Rather than speaking truth to power, so to speak, many economists became cheerleaders for globalisation."

In his 2011 book The Globalization Paradox , Rodrik concluded that "we cannot simultaneously pursue democracy, national determination, and economic globalisation." The results of the 2016 elections and referendums provide ample testimony of the justness of the thesis, with millions voting to push back, for better or for worse, against the campaigns and institutions that promised more globalisation. "I'm not at all surprised by the backlash," Rodrik told me. "Really, nobody should have been surprised."

But what, in any case, would "more globalisation" look like? For the same economists and writers who have started to rethink their commitments to greater integration, it doesn't mean quite what it did in the early 2000s. It's not only the discourse that's changed: globalisation itself has changed, developing into a more chaotic and unequal system than many economists predicted. The benefits of globalisation have been largely concentrated in a handful of Asian countries. And even in those countries, the good times may be running out.

Facebook Twitter Pinterest Illustration by Nathalie Lees

Statistics from Global Inequality , a 2016 book by the development economist Branko Milanović, indicate that in relative terms the greatest benefits of globalisation have accrued to a rising "emerging middle class", based preponderantly in China. But the cons are there, too: in absolute terms, the largest gains have gone to what is commonly called "the 1%" – half of whom are based in the US. Economist Richard Baldwin has shown in his recent book, The Great Convergence, that nearly all of the gains from globalisation have been concentrated in six countries.

Barring some political catastrophe, in which rightwing populism continued to gain, and in which globalisation would be the least of our problems – Wolf admitted that he was "not at all sure" that this could be ruled out – globalisation was always going to slow; in fact, it already has. One reason, says Wolf, was that "a very, very large proportion of the gains from globalisation – by no means all – have been exploited. We have a more open world economy to trade than we've ever had before." Citing The Great Convergence, Wolf noted that supply chains have already expanded, and that future developments, such as automation and the use of robots, looked to undermine the promise of a growing industrial workforce. Today, the political priorities were less about trade and more about the challenge of retraining workers , as technology renders old jobs obsolete and transforms the world of work.

Rodrik, too, believes that globalisation, whether reduced or increased, is unlikely to produce the kind of economic effects it once did. For him, this slowdown has something to do with what he calls "premature deindustrialisation". In the past, the simplest model of globalisation suggested that rich countries would gradually become "service economies", while emerging economies picked up the industrial burden. Yet recent statistics show the world as a whole is deindustrialising. Countries that one would have expected to have more industrial potential are going through the stages of automation more quickly than previously developed countries did, and thereby failing to develop the broad industrial workforce seen as a key to shared prosperity.

For both Rodrik and Wolf, the political reaction to globalisation bore possibilities of deep uncertainty. "I really have found it very difficult to decide whether what we're living through is a blip, or a fundamental and profound transformation of the world – at least as significant as the one that brought about the first world war and the Russian revolution," Wolf told me. He cited his agreement with economists such as Summers that shifting away from the earlier emphasis on globalisation had now become a political priority; that to pursue still greater liberalisation was like showing "a red rag to a bull" in terms of what it might do to the already compromised political stability of the western world.

Rodrik pointed to a belated emphasis, both among political figures and economists, on the necessity of compensating those displaced by globalisation with retraining and more robust welfare states. But pro-free-traders had a history of cutting compensation: Bill Clinton passed Nafta, but failed to expand safety nets. "The issue is that the people are rightly not trusting the centrists who are now promising compensation," Rodrik said. "One reason that Hillary Clinton didn't get any traction with those people is that she didn't have any credibility."

Rodrik felt that economics commentary failed to register the gravity of the situation: that there were increasingly few avenues for global growth, and that much of the damage done by globalisation – economic and political – is irreversible. "There is a sense that we're at a turning point," he said. "There's a lot more thinking about what can be done. There's a renewed emphasis on compensation – which, you know, I think has come rather late."

[Feb 24, 2020] The fatal flaw of neoliberalism: it's bad economics by Dani Rodrik

Notable quotes:
"... Neoliberalism and its usual prescriptions – always more markets, always less government – are in fact a perversion of mainstream economics. ..."
"... The term is used as a catchall for anything that smacks of deregulation, liberalisation, privatisation or fiscal austerity. Today it is routinely reviled as a shorthand for the ideas and practices that have produced growing economic insecurity and inequality, led to the loss of our political values and ideals, and even precipitated our current populist backlash. ..."
"... The use of the term "neoliberal" exploded in the 1990s, when it became closely associated with two developments, neither of which Peters's article had mentioned. One of these was financial deregulation, which would culminate in the 2008 financial crash and in the still-lingering euro debacle . The second was economic globalisation, which accelerated thanks to free flows of finance and to a new, more ambitious type of trade agreement. Financialisation and globalisation have become the most overt manifestations of neoliberalism in today's world. ..."
"... That neoliberalism is a slippery, shifting concept, with no explicit lobby of defenders, does not mean that it is irrelevant or unreal. Who can deny that the world has experienced a decisive shift toward markets from the 1980s on? Or that centre-left politicians – Democrats in the US, socialists and social democrats in Europe – enthusiastically adopted some of the central creeds of Thatcherism and Reaganism, such as deregulation, privatisation, financial liberalisation and individual enterprise? Much of our contemporary policy discussion remains infused with principles supposedly grounded in the concept of homo economicus , the perfectly rational human being, found in many economic theories, who always pursues his own self-interest. ..."
Nov 14, 2017 | www.theguardian.com

Neoliberalism and its usual prescriptions – always more markets, always less government – are in fact a perversion of mainstream economics.

As even its harshest critics concede, neoliberalism is hard to pin down. In broad terms, it denotes a preference for markets over government, economic incentives over cultural norms, and private entrepreneurship over collective action. It has been used to describe a wide range of phenomena – from Augusto Pinochet to Margaret Thatcher and Ronald Reagan, from the Clinton Democrats and the UK's New Labour to the economic opening in China and the reform of the welfare state in Sweden.

The term is used as a catchall for anything that smacks of deregulation, liberalisation, privatisation or fiscal austerity. Today it is routinely reviled as a shorthand for the ideas and practices that have produced growing economic insecurity and inequality, led to the loss of our political values and ideals, and even precipitated our current populist backlash.

We live in the age of neoliberalism, apparently. But who are neoliberalism's adherents and disseminators – the neoliberals themselves? Oddly, you have to go back a long time to find anyone explicitly embracing neoliberalism. In 1982, Charles Peters, the longtime editor of the political magazine Washington Monthly, published an essay titled A Neo-Liberal's Manifesto . It makes for interesting reading 35 years later, since the neoliberalism it describes bears little resemblance to today's target of derision. The politicians Peters names as exemplifying the movement are not the likes of Thatcher and Reagan, but rather liberals – in the US sense of the word – who have become disillusioned with unions and big government and dropped their prejudices against markets and the military.

The use of the term "neoliberal" exploded in the 1990s, when it became closely associated with two developments, neither of which Peters's article had mentioned. One of these was financial deregulation, which would culminate in the 2008 financial crash and in the still-lingering euro debacle . The second was economic globalisation, which accelerated thanks to free flows of finance and to a new, more ambitious type of trade agreement. Financialisation and globalisation have become the most overt manifestations of neoliberalism in today's world.

That neoliberalism is a slippery, shifting concept, with no explicit lobby of defenders, does not mean that it is irrelevant or unreal. Who can deny that the world has experienced a decisive shift toward markets from the 1980s on? Or that centre-left politicians – Democrats in the US, socialists and social democrats in Europe – enthusiastically adopted some of the central creeds of Thatcherism and Reaganism, such as deregulation, privatisation, financial liberalisation and individual enterprise? Much of our contemporary policy discussion remains infused with principles supposedly grounded in the concept of homo economicus , the perfectly rational human being, found in many economic theories, who always pursues his own self-interest.

But the looseness of the term neoliberalism also means that criticism of it often misses the mark. There is nothing wrong with markets, private entrepreneurship or incentives – when deployed appropriately. Their creative use lies behind the most significant economic achievements of our time. As we heap scorn on neoliberalism, we risk throwing out some of neoliberalism's useful ideas.

The real trouble is that mainstream economics shades too easily into ideology, constraining the choices that we appear to have and providing cookie-cutter solutions. A proper understanding of the economics that lie behind neoliberalism would allow us to identify – and to reject – ideology when it masquerades as economic science. Most importantly, it would help us to develop the institutional imagination we badly need to redesign capitalism for the 21st century.


N eoliberalism is typically understood as being based on key tenets of mainstream economic science. To see those tenets without the ideology, consider this thought experiment. A well-known and highly regarded economist lands in a country he has never visited and knows nothing about. He is brought to a meeting with the country's leading policymakers. "Our country is in trouble," they tell him. "The economy is stagnant, investment is low, and there is no growth in sight." They turn to him expectantly: "Please tell us what we should do to make our economy grow."

The economist pleads ignorance and explains that he knows too little about the country to make any recommendations. He would need to study the history of the economy, to analyse the statistics, and to travel around the country before he could say anything.

Facebook Twitter Pinterest Tony Blair and Bill Clinton: centre-left politicians who enthusiastically adopted some of the central creeds of Thatcherism and Reaganism. Photograph: Reuters

But his hosts are insistent. "We understand your reticence, and we wish you had the time for all that," they tell him. "But isn't economics a science, and aren't you one of its most distinguished practitioners? Even though you do not know much about our economy, surely there are some general theories and prescriptions you can share with us to guide our economic policies and reforms."

The economist is now in a bind. He does not want to emulate those economic gurus he has long criticised for peddling their favourite policy advice. But he feels challenged by the question. Are there universal truths in economics? Can he say anything valid or useful?

So he begins. The efficiency with which an economy's resources are allocated is a critical determinant of the economy's performance, he says. Efficiency, in turn, requires aligning the incentives of households and businesses with social costs and benefits. The incentives faced by entrepreneurs, investors and producers are particularly important when it comes to economic growth. Growth needs a system of property rights and contract enforcement that will ensure those who invest can retain the returns on their investments. And the economy must be open to ideas and innovations from the rest of the world.

But economies can be derailed by macroeconomic instability, he goes on. Governments must therefore pursue a sound monetary policy , which means restricting the growth of liquidity to the increase in nominal money demand at reasonable inflation. They must ensure fiscal sustainability, so that the increase in public debt does not outpace national income. And they must carry out prudential regulation of banks and other financial institutions to prevent the financial system from taking excessive risk.

Now he is warming to his task. Economics is not just about efficiency and growth, he adds. Economic principles also carry over to equity and social policy. Economics has little to say about how much redistribution a society should seek. But it does tell us that the tax base should be as broad as possible, and that social programmes should be designed in a way that does not encourage workers to drop out of the labour market.

By the time the economist stops, it appears as if he has laid out a fully fledged neoliberal agenda. A critic in the audience will have heard all the code words: efficiency, incentives, property rights, sound money, fiscal prudence. And yet the universal principles that the economist describes are in fact quite open-ended. They presume a capitalist economy – one in which investment decisions are made by private individuals and firms – but not much beyond that. They allow for – indeed, they require – a surprising variety of institutional arrangements.

So has the economist just delivered a neoliberal screed? We would be mistaken to think so, and our mistake would consist of associating each abstract term – incentives, property rights, sound money – with a particular institutional counterpart. And therein lies the central conceit, and the fatal flaw, of neoliberalism: the belief that first-order economic principles map on to a unique set of policies, approximated by a Thatcher/Reagan-style agenda.

Consider property rights. They matter insofar as they allocate returns on investments. An optimal system would distribute property rights to those who would make the best use of an asset, and afford protection against those most likely to expropriate the returns. Property rights are good when they protect innovators from free riders, but they are bad when they protect them from competition. Depending on the context, a legal regime that provides the appropriate incentives can look quite different from the standard US-style regime of private property rights.

This may seem like a semantic point with little practical import; but China's phenomenal economic success is largely due to its orthodoxy-defying institutional tinkering. China turned to markets, but did not copy western practices in property rights. Its reforms produced market-based incentives through a series of unusual institutional arrangements that were better adapted to the local context. Rather than move directly from state to private ownership, for example, which would have been stymied by the weakness of the prevailing legal structures, the country relied on mixed forms of ownership that provided more effective property rights for entrepreneurs in practice. Township and Village Enterprises (TVEs), which spearheaded Chinese economic growth during the 1980s, were collectives owned and controlled by local governments. Even though TVEs were publicly owned, entrepreneurs received the protection they needed against expropriation. Local governments had a direct stake in the profits of the firms, and hence did not want to kill the goose that lays the golden eggs.

China relied on a range of such innovations, each delivering the economist's higher-order economic principles in unfamiliar institutional arrangements. For instance, it shielded its large state sector from global competition, establishing special economic zones where foreign firms could operate with different rules than in the rest of the economy. In view of such departures from orthodox blueprints, describing China's economic reforms as neoliberal – as critics are inclined to do – distorts more than it reveals. If we are to call this neoliberalism, we must surely look more kindly on the ideas behind the most dramatic poverty reduction in history.

One might protest that China's institutional innovations were purely transitional. Perhaps it will have to converge on western-style institutions to sustain its economic progress. But this common line of thinking overlooks the diversity of capitalist arrangements that still prevails among advanced economies, despite the considerable homogenisation of our policy discourse.

What, after all, are western institutions? The size of the public sector in OECD countries varies, from a third of the economy in Korea to nearly 60% in Finland. In Iceland, 86% of workers are members of a trade union; the comparable number in Switzerland is just 16%. In the US, firms can fire workers almost at will; French labour laws have historically required employers to jump through many hoops first. Stock markets have grown to a total value of nearly one-and-a-half times GDP in the US; in Germany, they are only a third as large, equivalent to just 50% of GDP.

Facebook Twitter Pinterest 'China turned to markets, but did not copy western practices ... ' Photograph: AFP/Getty

The idea that any one of these models of taxation, labour relations or financial organisation is inherently superior to the others is belied by the varying economic fortunes that each of these economies have experienced over recent decades. The US has gone through successive periods of angst in which its economic institutions were judged inferior to those in Germany, Japan, China, and now possibly Germany again. Certainly, comparable levels of wealth and productivity can be produced under very different models of capitalism. We might even go a step further: today's prevailing models probably come nowhere near exhausting the range of what might be possible, and desirable, in the future.

The visiting economist in our thought experiment knows all this, and recognises that the principles he has enunciated need to be filled in with institutional detail before they become operational. Property rights? Yes, but how? Sound money? Of course, but how? It would perhaps be easier to criticise his list of principles for being vacuous than to denounce it as a neoliberal screed.

Still, these principles are not entirely content-free. China, and indeed all countries that managed to develop rapidly, demonstrate the utility of those principles once they are properly adapted to local context. Conversely, too many economies have been driven to ruin courtesy of political leaders who chose to violate them. We need look no further than Latin American populists or eastern European communist regimes to appreciate the practical significance of sound money, fiscal sustainability and private incentives.


O f course, economics goes beyond a list of abstract, largely common-sense principles. Much of the work of economists consists of developing stylised models of how economies work and then confronting those models with evidence. Economists tend to think of what they do as progressively refining their understanding of the world: their models are supposed to get better and better as they are tested and revised over time. But progress in economics happens differently.

Economists study a social reality that is unlike the physical universe. It is completely manmade, highly malleable and operates according to different rules across time and space. Economics advances not by settling on the right model or theory to answer such questions, but by improving our understanding of the diversity of causal relationships. Neoliberalism and its customary remedies – always more markets, always less government – are in fact a perversion of mainstream economics. Good economists know that the correct answer to any question in economics is: it depends.

Does an increase in the minimum wage depress employment? Yes, if the labour market is really competitive and employers have no control over the wage they must pay to attract workers; but not necessarily otherwise. Does trade liberalisation increase economic growth? Yes, if it increases the profitability of industries where the bulk of investment and innovation takes place; but not otherwise. Does more government spending increase employment? Yes, if there is slack in the economy and wages do not rise; but not otherwise. Does monopoly harm innovation? Yes and no, depending on a whole host of market circumstances.

Facebook Twitter Pinterest 'Today [neoliberalism] is routinely reviled as a shorthand for the ideas that have produced growing economic inequality and precipitated our current populist backlash' Trump signing an order to take the US out of the TPP trade pact. Photograph: AFP/Getty

In economics, new models rarely supplant older models. The basic competitive-markets model dating back to Adam Smith has been modified over time by the inclusion, in rough historical order, of monopoly, externalities, scale economies, incomplete and asymmetric information, irrational behaviour and many other real-world features. But the older models remain as useful as ever. Understanding how real markets operate necessitates using different lenses at different times.

Perhaps maps offer the best analogy. Just like economic models, maps are highly stylised representations of reality . They are useful precisely because they abstract from many real-world details that would get in the way. But abstraction also implies that we need a different map depending on the nature of our journey. If we are travelling by bike, we need a map of bike trails. If we are to go on foot, we need a map of footpaths. If a new subway is constructed, we will need a subway map – but we wouldn't throw out the older maps.

Economists tend to be very good at making maps, but not good enough at choosing the one most suited to the task at hand. When confronted with policy questions of the type our visiting economist faces, too many of them resort to "benchmark" models that favour the laissez-faire approach. Kneejerk solutions and hubris replace the richness and humility of the discussion in the seminar room. John Maynard Keynes once defined economics as the "science of thinking in terms of models, joined to the art of choosing models which are relevant". Economists typically have trouble with the "art" part.

This, too, can be illustrated with a parable. A journalist calls an economics professor for his view on whether free trade is a good idea. The professor responds enthusiastically in the affirmative. The journalist then goes undercover as a student in the professor's advanced graduate seminar on international trade. He poses the same question: is free trade good? This time the professor is stymied. "What do you mean by 'good'?" he responds. "And good for whom?" The professor then launches into an extensive exegesis that will ultimately culminate in a heavily hedged statement: "So if the long list of conditions I have just described are satisfied, and assuming we can tax the beneficiaries to compensate the losers, freer trade has the potential to increase everyone's wellbeing." If he is in an expansive mood, the professor might add that the effect of free trade on an economy's longterm growth rate is not clear either, and would depend on an altogether different set of requirements.

This professor is rather different from the one the journalist encountered previously. On the record, he exudes self-confidence, not reticence, about the appropriate policy. There is one and only one model, at least as far as the public conversation is concerned, and there is a single correct answer, regardless of context. Strangely, the professor deems the knowledge that he imparts to his advanced students to be inappropriate (or dangerous) for the general public. Why?

The roots of such behaviour lie deep in the culture of the economics profession. But one important motive is the zeal to display the profession's crown jewels – market efficiency, the invisible hand, comparative advantage – in untarnished form, and to shield them from attack by self-interested barbarians, namely the protectionists . Unfortunately, these economists typically ignore the barbarians on the other side of the issue – financiers and multinational corporations whose motives are no purer and who are all too ready to hijack these ideas for their own benefit.

As a result, economists' contributions to public debate are often biased in one direction, in favour of more trade, more finance and less government. That is why economists have developed a reputation as cheerleaders for neoliberalism, even if mainstream economics is very far from a paean to laissez-faire. The economists who let their enthusiasm for free markets run wild are in fact not being true to their own discipline.


H ow then should we think about globalisation in order to liberate it from the grip of neoliberal practices? We must begin by understanding the positive potential of global markets. Access to world markets in goods, technologies and capital has played an important role in virtually all of the economic miracles of our time. China is the most recent and powerful reminder of this historical truth, but it is not the only case. Before China, similar miracles were performed by South Korea, Taiwan, Japan and a few non-Asian countries such as Mauritius . All of these countries embraced globalisation rather than turn their backs on it, and they benefited handsomely.

Defenders of the existing economic order will quickly point to these examples when globalisation comes into question. What they will fail to say is that almost all of these countries joined the world economy by violating neoliberal strictures. South Korea and Taiwan, for instance, heavily subsidised their exporters, the former through the financial system and the latter through tax incentives. All of them eventually removed most of their import restrictions, long after economic growth had taken off.

But none, with the sole exception of Chile in the 1980s under Pinochet, followed the neoliberal recommendation of a rapid opening-up to imports. Chile's neoliberal experiment eventually produced the worst economic crisis in all of Latin America. While the details differ across countries, in all cases governments played an active role in restructuring the economy and buffering it against a volatile external environment. Industrial policies, restrictions on capital flows and currency controls – all prohibited in the neoliberal playbook – were rampant.

Facebook Twitter Pinterest Protest against Nafta in Mexico City in 2008: since the reforms of the mid-90s, the country's economy has underperformed. Photograph: EPA

By contrast, countries that stuck closest to the neoliberal model of globalisation were sorely disappointed. Mexico provides a particularly sad example. Following a series of macroeconomic crises in the mid-1990s, Mexico embraced macroeconomic orthodoxy, extensively liberalised its economy, freed up the financial system, sharply reduced import restrictions and signed the North American Free Trade Agreement (Nafta). These policies did produce macroeconomic stability and a significant rise in foreign trade and internal investment. But where it counts – in overall productivity and economic growth – the experiment failed . Since undertaking the reforms, overall productivity in Mexico has stagnated, and the economy has underperformed even by the undemanding standards of Latin America.

These outcomes are not a surprise from the perspective of sound economics. They are yet another manifestation of the need for economic policies to be attuned to the failures to which markets are prone, and to be tailored to the specific circumstances of each country. No single blueprint fits all.


A s Peters's 1982 manifesto attests, the meaning of neoliberalism has changed considerably over time as the label has acquired harder-line connotations with respect to deregulation, financialisation and globalisation. But there is one thread that connects all versions of neoliberalism, and that is the emphasis on economic growth . Peters wrote in 1982 that the emphasis was warranted because growth is essential to all our social and political ends – community, democracy, prosperity. Entrepreneurship, private investment and removing obstacles that stand in the way (such as excessive regulation) were all instruments for achieving economic growth. If a similar neoliberal manifesto were penned today, it would no doubt make the same point.

Critics often point out that this emphasis on economics debases and sacrifices other important values such as equality, social inclusion, democratic deliberation and justice. Those political and social objectives obviously matter enormously, and in some contexts they matter the most. They cannot always, or even often, be achieved by means of technocratic economic policies; politics must play a central role.

Still, neoliberals are not wrong when they argue that our most cherished ideals are more likely to be attained when our economy is vibrant, strong and growing. Where they are wrong is in believing that there is a unique and universal recipe for improving economic performance, to which they have access. The fatal flaw of neoliberalism is that it does not even get the economics right. It must be rejected on its own terms for the simple reason that it is bad economics.

A version of this article first appeared in Boston Review

[Feb 24, 2020] Seven signs of the neoliberal apocalypse by Van Badham

Highly recommended!
Yes, neo-McCarthyism is a sign of the collapse of neoliberal ideology and the crisis within the neoliberal ruling elite, which is trying to patch the cracks int he neoliberal facade of the US society and require the control over the population (which rejected neoliberalism at voting booth in 2016) with Russophobia
Apr 26, 2018 | www.theguardian.com

5. The reds are back under the beds

There's always a bit of judgment and vengeance inherent to the factional shenanigans of Australia's Liberal party, but its refreshed vocabulary warrants inclusion as the fifth sign. Michael Sukkar, the member for Deakin, has been recorded in a dazzling rant declaring war on a "socialist" incursion into a party whose leader is a former merchant banker who pledged to rule for "freedom, the individual and the market" the very day he was anointed.

Sukkar's insistence is wonderful complement to the performance art monologues of former Liberal MP Bronwyn Bishop on Sky, where she weekly decries socialism is to blame for everything from alcoholism to energy prices.

The reds may not be under the beds quite yet, but if Sukkar's convinced some commie pinkos are already gatecrashing cocktail events with the blue-tie set, they're certainly on his mind.

[Feb 22, 2020] The Red Thread A Search for Ideological Drivers Inside the Anti-Trump Conspiracy by Diana West

Highly recommended!
She does not use the term neoliberalism but she provide interesting perspective about connection of neoliberalism and Trotskyism. It is amazing fact that most of them seriously studied communist ideology at universities.
Trotskyites are never constrained by morality and they are obsessed with raw power (especially political power) and forceful transformation of the society. They are for global dominance so they were early adherents of "Full spectrum Dominance" doctirne approporitated later be US neocons. Their Dream -- global run from Washington neoliberal empire is a mirror of the dream of Trotskyites of global communist empire run from Moscow (Trotsky "Permanent war" till the total victory of communism idea)
Inability to understand that neoliberal is undermines Diana West thinking, but still she is a good researcher and she managed to reveal some interesting facts and tendencies. She intuitively understand that both are globalist ideologies, but that about all she managed to understand. Bad for former DIA specialist on the USSR and former colleague of Colonel Lang (see Sic Semper Tyrannis)
It is funny that Sanders is being accused of being a 'self-identified' socialist, while neoliberal elite is shoulder-deep in socialism for the 1% and enjoy almost unlimited access to free Fed funds.
Feb 22, 2020 | www.amazon.com

Boston Bill , March 23, 2019

Programs, programs, get your program here.

I received my copy just a few days before the Mueller investigation closed shop. There is an old saying "You can't tell the players without a program." As the aftermath of the Mueller investigation begins, you need this book. Some pundits and observers of the political scene have observed that the Mueller investigation didn't come about because of any real concern about "Trump Russia collusion," it was manufactured to protect the deep state from a non-political interloper. That's the case Diana West makes and does it with her exceptional knowledge of the Cold War and the current jihad wars. Not to mention her deadly aim with her rhetorical darts.

Erving L. Briggs , April 2, 2019
History Repeats

The Red Thread by Diana West
Diana states, "the anti-Trump conspiracy is not about Democrats and Republicans. It is not about the ebb and flow of political power, lawfully and peacefully transferred. It is about globalists and nationalists, just as the president says. They are locked in the old and continuous Communist/anti-Communist struggle, and fighting to the end, whether We, the anti-Communists, recognize it or not."

Diana traces the Red Thread running through the swamp, she names names and relates the history of the Red players. She asks the questions, Why? Why so many Soviet-style acts of deception perpetrated from inside the federal government against the American electoral process? Why so many uncorroborated dossiers of Russian provenance influencing our politics? Why such a tangle of communist and socialist roots in the anti-Trump conspiracy?
In this book, these questions will be answered.

If you have read her book "American Betrayal," I'm sure you will have a good idea about what is going on. I did. I just didn't know the major players and the red history behind each of them.

The book is very interesting and short, only 104 pages, but it is not finished yet. Easy to read but very disturbing to know the length and width of the swamp, the depth, we may not know for a long time. I do feel better knowing that there are people like Diana uncovering and shining a light into the darkness. Get the book, we all need to know why this is happening and who the enemies are behind it. Our freedom depends on it.

[Feb 19, 2020] During the stagflation crisis of the 1970s, a "neoliberal revolution from above" was staged in the USA by "managerial elite" which like Soviet nomenklatura (which also staged a neoliberal coup d' tat) changed sides and betrayed the working class

Highly recommended!
This was an outright declaration of "class war" against working-class voters by a "university-credentialed overclass" -- "managerial elite" which changed sides and allied with financial oligrchy. See "The New Class War: Saving Democracy from the Managerial Elite" by Michael Lind
Notable quotes:
"... By canceling the class compromise that governed the capitalist societies after World War II, the neoliberal elite saws the seed of the current populist backlash. The "soft neoliberal" backbone of the Democratic Party (Clinton wing) were incapable of coming to terms with Hillary Clinton's defeat -- the rejection of the establishment candidate by the US population and first of all by the working class. The result has been the neo-McCarthyism campaign and the attempt to derail Trump via color revolution spearheaded by Brennan-Obama factions in CIA and FBI. ..."
Feb 19, 2020 | angrybearblog.com

likbez , February 19, 2020 12:31 pm

Does not matter.

It looks like Bloomberg is finished. He just committed political suicide with his comments about farmers and metal workers.

BTW Bloomberg's plan is highly hypocritical -- like is Bloomberg himself.

During the stagflation crisis of the 1970s, a "neoliberal revolution from above" was staged in the USA by "managerial elite" which like Soviet nomenklatura (which also staged a neoliberal coup d'état) changed sides and betrayed the working class.

So those neoliberal scoundrels reversed the class compromise embodied in the New Deal.

The most powerful weapon in the arsenal of the neoliberal managerial class and financial oligarchy who got to power via the "Quiet Coup" was the global labor arbitrage in which production is outsourced to countries with lower wage levels and laxer regulations.

So all those "improving education" plans are, to a large extent, the smoke screen over the fact that the US workers now need to compete against highly qualified and lower cost immigrants and outsourced workforce.

The fact is that it is very difficult to find for US graduates in STEM disciplines a decent job, and this is by design.

Also, after the "Reagan neoliberal revolution" ( actually a coup d'état ), profits were maximized by putting downward pressure on domestic wages through the introduction of the immigrant workforce (the collapse of the USSR helped greatly ). They push down wages and compete for jobs with their domestic counterparts, including the recent graduates. So the situation since 1991 was never too bright for STEM graduates.

By canceling the class compromise that governed the capitalist societies after World War II, the neoliberal elite saws the seed of the current populist backlash. The "soft neoliberal" backbone of the Democratic Party (Clinton wing) were incapable of coming to terms with Hillary Clinton's defeat -- the rejection of the establishment candidate by the US population and first of all by the working class. The result has been the neo-McCarthyism campaign and the attempt to derail Trump via color revolution spearheaded by Brennan-Obama factions in CIA and FBI.

See also recently published "The New Class War: Saving Democracy from the Managerial Elite" by Michael Lind.

One of his quotes:

The American oligarchy spares no pains in promoting the belief that it does not exist, but the success of its disappearing act depends on equally strenuous efforts on the part of an American public anxious to believe in egalitarian fictions and unwilling to see what is hidden in plain sight.

[Feb 19, 2020] On Michael Lind's "The New Class War" by Gregor Baszak

Highly recommended!
Notable quotes:
"... To writer Michael Lind, Trump's victory, along with Brexit and other populist stirrings in Europe, was an outright declaration of "class war" by alienated working-class voters against what he calls a "university-credentialed overclass" of managerial elites. ..."
"... Lind cautions against a turn to populism, which he believes to be too personality-centered and intellectually incoherent -- not to mention, too demagogic -- to help solve the terminal crisis of "technocratic neoliberalism" with its rule by self-righteous and democratically unaccountable "experts" with hyperactive Twitter handles. Only a return to what Lind calls "democratic pluralism" will help stem the tide of the populist revolt. ..."
"... Many on the left have been incapable of coming to terms with Hillary Clinton's defeat. The result has been the stifling climate of a neo-McCarthyism, in which the only explanation for Trump's success was an unholy alliance of "Putin stooges" and unrepentant "white supremacists." ..."
"... To Lind, the case is much more straightforward: while the vast majority of Americans supports Social Security spending and containing unskilled immigration, the elites of the bipartisan swamp favor libertarian free trade policies combined with the steady influx of unskilled migrants to help suppress wage levels in the United States. Trump had outflanked his opponents in the Republican primaries and Clinton in the general election by tacking left on the economy (he refused to lay hands on Social Security) and right on immigration. ..."
"... Then, in the 1930s, while the world was writhing from the consequences of the Great Depression, a series of fascist parties took the reigns in countries from Germany to Spain. To spare the United States a similar descent into barbarism, President Franklin D. Roosevelt implemented the New Deal, in which the working class would find a seat at the bargaining table under a government-supervised tripartite system where business and organized labor met seemingly as equals and in which collective bargaining would help the working class set sector-wide wages. ..."
"... This class compromise ruled unquestioned for the first decades of the postwar era. It was made possible thanks to the system of democratic pluralism, which allowed working-class and rural constituencies to actively partake in mass-membership organizations like unions as well as civic and religious institutions that would empower these communities to shape society from the ground up. ..."
"... But then, amid the stagflation crisis of the 1970s, a "neoliberal revolution from above" set in that sought to reverse the class compromise. The most powerful weapon in the arsenal of the newly emboldened managerial class was "global labor arbitrage" in which production is outsourced to countries with lower wage levels and laxer regulations; alternatively, profits can be maximized by putting downward pressure on domestic wages through the introduction of an unskilled, non-unionized immigrant workforce that competes for jobs with its unionized domestic counterparts. By one-sidedly canceling the class compromise that governed the capitalist societies after World War II, Lind concludes, the managerial elite had brought the recent populist backlash on itself. ..."
"... American parties are not organized parties built around active members and policy platforms; they are shifting coalitions of entrepreneurial candidate campaign organizations. Hence, the Democratic and Republican Parties are not only capitalist ideologically; they are capitalistically run enterprises. ..."
"... In the epigraph to the book, Lind cites approvingly the 1949 treatise The Vital Center by historian Arthur Schlesinger Jr. who wrote that "class conflict, pursued to excess, may well destroy the underlying fabric of common principle which sustains free society." Schlesinger was just one among many voices who believed that Western societies after World War II were experiencing the "end of ideology." From now on, the reasoning went, the ideological battles of yesteryear were settled in favor of a more disinterested capitalist (albeit New Deal–inflected) governance. This, in turn, gave rise to the managerial forces in government, the military, and business whose unchecked hold on power Lind laments. The midcentury social-democratic thinker Michael Harrington had it right when he wrote that "[t]he end of ideology is a shorthand way of saying the end of socialism." ..."
"... A cursory glance at the recent impeachment hearings bears witness to this, as career bureaucrats complained that President Trump unjustifiably sought to change the course of an American foreign policy that had been nobly steered by them since the onset of the Cold War. In their eyes, Trump, like the Brexiteers or the French yellow vest protesters, are vulgar usurpers who threaten the stability of the vital center from polar extremes. ..."
Jan 08, 2020 | lareviewofbooks.org

A FEW DAYS AFTER Donald Trump's electoral upset in 2016, Club for Growth co-founder Stephen Moore told an audience of Republican House members that the GOP was "now officially a Trump working class party." No longer the party of traditional Reaganite conservatism, the GOP had been converted instead "into a populist America First party." As he uttered these words, Moore says, "the shock was palpable" in the room.

The Club for Growth had long dominated Republican orthodoxy by promoting low tax rates and limited government. Any conservative candidate for political office wanting to reap the benefits of the Club's massive fundraising arm had to pay homage to this doctrine. For one of its formerly leading voices to pronounce the transformation of this orthodoxy toward a more populist nationalism showed just how much the ground had shifted on election night.

To writer Michael Lind, Trump's victory, along with Brexit and other populist stirrings in Europe, was an outright declaration of "class war" by alienated working-class voters against what he calls a "university-credentialed overclass" of managerial elites. The title of Lind's new book, The New Class War: Saving Democracy from the Managerial Elite , leaves no doubt as to where his sympathies lie, though he's adamant that he's not some sort of guru for a " smarter Trumpism ," as some have labeled him.

Lind cautions against a turn to populism, which he believes to be too personality-centered and intellectually incoherent -- not to mention, too demagogic -- to help solve the terminal crisis of "technocratic neoliberalism" with its rule by self-righteous and democratically unaccountable "experts" with hyperactive Twitter handles. Only a return to what Lind calls "democratic pluralism" will help stem the tide of the populist revolt.

The New Class War is a breath of fresh air. Many on the left have been incapable of coming to terms with Hillary Clinton's defeat. The result has been the stifling climate of a neo-McCarthyism, in which the only explanation for Trump's success was an unholy alliance of "Putin stooges" and unrepentant "white supremacists."

To Lind, the case is much more straightforward: while the vast majority of Americans supports Social Security spending and containing unskilled immigration, the elites of the bipartisan swamp favor libertarian free trade policies combined with the steady influx of unskilled migrants to help suppress wage levels in the United States. Trump had outflanked his opponents in the Republican primaries and Clinton in the general election by tacking left on the economy (he refused to lay hands on Social Security) and right on immigration.

The strategy has since been successfully repeated in the United Kingdom by Boris Johnson, and it looks, for now, like a foolproof way for conservative parties in the West to capture or defend their majorities against center-left parties that are too beholden to wealthy, metropolitan interests to seriously attract working-class support. Berating the latter as irredeemably racist certainly doesn't help either.

What happened in the preceding decades to produce this divide in Western democracies? Lind's narrative begins with the New Deal, which had brought to an end what he calls "the first class war" in favor of a class compromise between management and labor. This first class war is the one we are the most familiar with: originating in the Industrial Revolution, which had produced the wretchedly poor proletariat, it soon led to the rise of competing parties of organized workers on the one hand and the liberal bourgeoisie on the other, a clash that came to a head in the Bolshevik Revolution of 1917. Then, in the 1930s, while the world was writhing from the consequences of the Great Depression, a series of fascist parties took the reigns in countries from Germany to Spain. To spare the United States a similar descent into barbarism, President Franklin D. Roosevelt implemented the New Deal, in which the working class would find a seat at the bargaining table under a government-supervised tripartite system where business and organized labor met seemingly as equals and in which collective bargaining would help the working class set sector-wide wages.

This class compromise ruled unquestioned for the first decades of the postwar era. It was made possible thanks to the system of democratic pluralism, which allowed working-class and rural constituencies to actively partake in mass-membership organizations like unions as well as civic and religious institutions that would empower these communities to shape society from the ground up.

But then, amid the stagflation crisis of the 1970s, a "neoliberal revolution from above" set in that sought to reverse the class compromise. The most powerful weapon in the arsenal of the newly emboldened managerial class was "global labor arbitrage" in which production is outsourced to countries with lower wage levels and laxer regulations; alternatively, profits can be maximized by putting downward pressure on domestic wages through the introduction of an unskilled, non-unionized immigrant workforce that competes for jobs with its unionized domestic counterparts. By one-sidedly canceling the class compromise that governed the capitalist societies after World War II, Lind concludes, the managerial elite had brought the recent populist backlash on itself.

Likewise, only it can contain this backlash by returning to the bargaining table and reestablishing the tripartite system it had walked away from. According to Lind, the new class peace can only come about on the level of the individual nation-state because transnational treaty organizations like the EU cannot allow the various national working classes to escape the curse of labor arbitrage. This will mean that unskilled immigration will necessarily have to be curbed to strengthen the bargaining power of domestic workers. The free-market orthodoxy of the Club for Growth will also have to take a backseat, to be replaced by government-promoted industrial strategies that invest in innovation to help modernize their national economies.

Under which circumstances would the managerial elites ever return to the bargaining table? "The answer is fear," Lind suggests -- fear of working-class resentment of hyper-woke, authoritarian elites. Ironically, this leaves all the agency with the ruling class, who first acceded to the class compromise, then canceled it, and is now called on to forge a new one lest its underlings revolt.

Lind rightly complains all throughout the book that the old mass-membership based organizations of the 20th century have collapsed. He's coy, however, about who would reconstitute them and how. At best, Lind argues for a return to the old system where party bosses and ward captains served their local constituencies through patronage, but once more this leaves the agency with entities like the Republicans and Democrats who have a combined zero members. As the third-party activist Howie Hawkins remarked cunningly elsewhere ,

American parties are not organized parties built around active members and policy platforms; they are shifting coalitions of entrepreneurial candidate campaign organizations. Hence, the Democratic and Republican Parties are not only capitalist ideologically; they are capitalistically run enterprises.

Thus, they would hardly be the first options one would think of to reinvigorate the forces of civil society toward self-rule from the bottom up.

The key to Lind's fraught logic lies hidden in plain sight -- in the book's title. Lind does not speak of "class struggle ," the heroic Marxist narrative in which an organized proletariat strove for global power; no, "class war " smacks of a gloomy, Hobbesian war of all against all in which no side truly stands to win.

In the epigraph to the book, Lind cites approvingly the 1949 treatise The Vital Center by historian Arthur Schlesinger Jr. who wrote that "class conflict, pursued to excess, may well destroy the underlying fabric of common principle which sustains free society." Schlesinger was just one among many voices who believed that Western societies after World War II were experiencing the "end of ideology." From now on, the reasoning went, the ideological battles of yesteryear were settled in favor of a more disinterested capitalist (albeit New Deal–inflected) governance. This, in turn, gave rise to the managerial forces in government, the military, and business whose unchecked hold on power Lind laments. The midcentury social-democratic thinker Michael Harrington had it right when he wrote that "[t]he end of ideology is a shorthand way of saying the end of socialism."

Looked at from this perspective, the break between the postwar Fordist regime and technocratic neoliberalism isn't as massive as one would suppose. The overclass antagonists of The New Class War believe that they derive their power from the same "liberal order" of the first-class peace that Lind upholds as a positive utopia. A cursory glance at the recent impeachment hearings bears witness to this, as career bureaucrats complained that President Trump unjustifiably sought to change the course of an American foreign policy that had been nobly steered by them since the onset of the Cold War. In their eyes, Trump, like the Brexiteers or the French yellow vest protesters, are vulgar usurpers who threaten the stability of the vital center from polar extremes.

A more honest account of capitalism would also acknowledge its natural tendencies to persistently contract and to disrupt the social fabric. There is thus no reason to believe why some future class compromise would once and for all quell these tendencies -- and why nationalistically operating capitalist states would not be inclined to confront each other again in war.

Gregor Baszak is a PhD candidate in English at the University of Illinois at Chicago. His Twitter handle is @gregorbas1.

Stourley Kracklite 20 days ago • edited ,

Reagan was a free-trader and a union buster. Lind's people jumped the Democratic ship to vote for Reagan in (lemming-like) droves. As Republicans consolidated power over labor with cheap goods from China and the meth of deficit spending Democrats struggled with being necklaced as the party of civil rights.
The idea that people who are well-informed ought not to govern is a sad and sick cover story that the culpable are forced to chant in their caves until their days are done, the reckoning being too great.

[Feb 07, 2020] The favored candidate of the DNC is clearly Trump

Trump is Hillary2020 ;-)
Feb 07, 2020 | www.moonofalabama.org

Bubbles , Feb 6 2020 20:57 utc | 74

Yes pft, the favored candidate of the DNC is clearly Trump.

Posted by: Blue Dotterel | Feb 6 2020 19:25 utc | 58


Only if the ungrateful commoners who identify as Democrats or moderates can't be brought to heel and give their full throated support for the DNC's favoured Cookie Cutter candidate who might as well be one of those dolls with a string and a recording you hear when you pull the string.

Then yes, they would prefer 'fore moar years!!' of the Ugliest American ever to be installed as President of the United States.

One of things I respect about Tulsi Gabbard is she ain't no Doll with a string attached. When she made the comment about cleaning out the rot in the Democratic Party, she left no doubt her intent and goals. And to take on hillary, the Red Queen to boot, why that was simply delicious.

Alas, the View, the DNC, it's web of evil rich and the media will never forgive her for Soldiering for her Country.

[Jan 26, 2020] The Collapse of Neoliberalism by Ganesh Sitaraman

Highly recommended!
From the book The Great Democracy by Ganesh Sitaraman.
This is a very valuable article, probably the best written in 2019 on the topic, that discusses several important aspects of neoliberalism better then its predecessors...
Notable quotes:
"... For some, and especially for those in the millennial generation, the Great Recession and the wars in Iraq and Afghanistan started a process of reflection on what the neoliberal era had delivered. ..."
"... neoliberal policies had already wreaked havoc around the world ..."
"... "excessively rapid financial and capital market liberalization was probably the single most important cause of the crisis"; he also notes that after the crisis, the International Monetary Fund's policies "exacerbated the downturns." ..."
"... In study after study, political scientists have shown that the U.S. government is highly responsive to the policy preferences of the wealthiest people, corporations, and trade associations -- and that it is largely unresponsive to the views of ordinary people. The wealthiest people, corporations, and their interest groups participate more in politics, spend more on politics, and lobby governments more. Leading political scientists have declared that the U.S. is no longer best characterized as a democracy or a republic but as an oligarchy -- a government of the rich, by the rich, and for the rich. ..."
"... Neoliberalism's war on "society," by pushing toward the privatization and marketization of everything, indirectly facilitates a retreat into tribalism. ..."
"... neoliberalism's radical individualism has increasingly raised two interlocking problems. First, when taken to an extreme, social fracturing into identity groups can be used to divide people and prevent the creation of a shared civic identity. ..."
"... Demagogues rely on this fracturing to inflame racial, nationalist, and religious antagonism, which only further fuels the divisions within society. Neoliberalism's war on "society," by pushing toward the privatization and marketization of everything, thus indirectly facilitates a retreat into tribalism that further undermines the preconditions for a free and democratic society. ..."
"... The second problem is that neoliberals on right and left sometimes use identity as a shield to protect neoliberal policies. As one commentator has argued, "Without the bedrock of class politics, identity politics has become an agenda of inclusionary neoliberalism in which individuals can be accommodated but addressing structural inequalities cannot." What this means is that some neoliberals hold high the banner of inclusiveness on gender and race and thus claim to be progressive reformers, but they then turn a blind eye to systemic changes in politics and the economy. ..."
"... They thought globalization was inevitable and that ever-expanding trade liberalization was desirable even if the political system never corrected for trade's winners and losers. They were wrong. These aren't minor mistakes. ..."
"... In spite of these failures, most policymakers did not have a new ideology or different worldview through which to comprehend the problems of this time. So, by and large, the collective response was not to abandon neoliberalism. After the Great Crash of 2008, neoliberals chafed at attempts to push forward aggressive Keynesian spending programs to spark demand. President Barack Obama's advisers shrank the size of the post-crash stimulus package for fear it would seem too large to the neoliberal consensus of the era -- and on top of that, they compromised on its content. ..."
"... When it came to affirmative, forward-looking policy, the neoliberal framework also remained dominant. ..."
"... It is worth emphasizing that Obamacare's central feature is a private marketplace in which people can buy their own health care, with subsidies for individuals who are near the poverty line ..."
"... Fearful of losing their seats, centrists extracted these concessions from progressives. Little good it did them. The president's party almost always loses seats in midterm elections, and this time was no different. For their caution, centrists both lost their seats and gave Americans fewer and worse health care choices. ..."
"... The Republican Party platform in 2012, for example, called for weaker Wall Street, environmental, and worker safety regulations; lower taxes for corporations and wealthy individuals; and further liberalization of trade. It called for abolishing federal student loans, in addition to privatizing rail, western lands, airport security, and the post office. Republicans also continued their support for cutting health care and retirement security. After 40 years moving in this direction -- and with it failing at every turn -- you might think they would change their views. But Republicans didn't, and many still haven't. ..."
"... Although neoliberalism had little to offer, in the absence of a new ideological framework, it hung over the Obama presidency -- but now in a new form. Many on the center-left adopted what we might call the "technocratic ideology," a rebranded version of the policy minimalism of the 1990s that replaced minimalism's tactical and pragmatic foundations with scientific ones. The term itself is somewhat oxymoronic, as technocrats seem like the opposite of ideologues. ..."
"... The technocratic ideology preserves the status quo with a variety of tactics. We might call the first the "complexity canard." ..."
"... The most frequent uses of this tactic are in sectors that economists have come to dominate -- international trade, antitrust, and financial regulation, for example. The result of this mind-set is that bold, structural reforms are pushed aside and highly technical changes adopted instead. Financial regulation provides a particularly good case, given the 2008 crash and the Great Recession. When it came time to establish a new regulatory regime for the financial sector, there wasn't a massive restructuring, despite the biggest crash in 70 years. ..."
"... Instead, for the most part, the Dodd-Frank Act was classically technocratic. It kept the sector basically the same, with a few tweaks here and there. There was no attempt to restructure the financial sector completely. ..."
"... The Volcker Rule, for example, sought to ban banks from proprietary trading. But instead of doing that through a simple, clean breakup rule (like the one enacted under the old Glass-Steagall regime), the Volcker Rule was subject to a multitude of exceptions and carve-outs -- measures that federal regulators were then required to explain and implement with hundreds of pages of technical regulations ..."
"... Dodd-Frank also illustrates a second tenet of the technocratic ideology: The failures of technocracy can be solved by more technocracy. ..."
"... Dodd-Frank created the Financial Stability Oversight Council, a government body tasked with what is called macroprudential regulation. What this means is that government regulators are supposed to monitor the entire economy and turn the dials of regulation up and down a little bit to keep the economy from another crash. But ask yourself this: Why would we ever believe they could do such a thing? We know those very same regulators failed to identify, warn about, or act on the 2008 crisis. ..."
"... In the first stage, neoliberalism gained traction in response to the crises of the 1970s. It is easy to think of Thatcherism and Reaganism as emerging fully formed, springing from Zeus's head like the goddess Athena. ..."
"... Early leaders were not as ideologically bold as later mythmakers think. In the second stage, neoliberalism became normalized. It persisted beyond the founding personalities -- and, partly because of its longevity in power, grew so dominant that the other side adopted it. ..."
"... Eventually, however, the neoliberal ideology extended its tentacles into every area of policy and even social life, and in its third stage, overextended. The result in economic policy was the Great Crash of 2008, economic stagnation, and inequality at century-high levels. In foreign policy, it was the disastrous Iraq War and ongoing chaos and uncertainty in the Middle East. ..."
"... The fourth and final stage is collapse, irrelevance, and a wandering search for the future. With the world in crisis, neoliberalism no longer has even plausible solutions to today's problems. ..."
"... The solutions of the neoliberal era offer no serious ideas for how to restitch the fraying social fabric, in which people are increasingly tribal, divided, and disconnected from civic community ..."
Dec 23, 2019 | newrepublic.com
Welcome to the Decade From Hell , our look back at an arbitrary 10-year period that began with a great outpouring of hope and ended in a cavalcade of despair. The long-dominant ideology brought us forever wars, the Great Recession, and extreme inequality. Good riddance.

With the 2008 financial crash and the Great Recession, the ideology of neoliberalism lost its force. The approach to politics, global trade, and social philosophy that defined an era led not to never-ending prosperity but utter disaster. "Laissez-faire is finished," declared French President Nicolas Sarkozy. Federal Reserve Chairman Alan Greenspan admitted in testimony before Congress that his ideology was flawed. In an extraordinary statement, Australian Prime Minister Kevin Rudd declared that the crash "called into question the prevailing neoliberal economic orthodoxy of the past 30 years -- the orthodoxy that has underpinned the national and global regulatory frameworks that have so spectacularly failed to prevent the economic mayhem which has been visited upon us."

... ... ...

[Jan 25, 2020] Rabobank What If... The Protectionists Are Right And The Free Traders Are Wrong by Michael Every

Highly recommended!
Notable quotes:
"... Yet it took until 1860 for the UK to fully embrace free trade, and even then the unpalatable historical record is that during this 'golden age', the British: Destroyed the Indian textile industry to benefit their own cloth manufacturers; Started the Opium Wars to balance UK-China trade by selling China addictive drugs; Ignored the Irish Potato Famine and continued to allow Irish wheat exports; Forced Siam (Thailand) to open up its economy to trade with gunboats (as the US did with Japan); and Colonized much of Africa and Asia. ..."
"... Regardless, the first flowering of free trade collapsed back into nationalism and protectionism - bloodily so in 1914. Free trade was tried again from 1919 - but burned-out even more bloodily in the 1930s and 1940s. After WW2, most developed countries had moderately free trade - but most developing countries did not. We only started to re-embrace global free trade from the 1990s onwards when the Cold War ended – and here it is under stress again. In short, only around 100 years in a total of 5,000 years of civilization has seen real global free trade, it has failed twice already, and it is once again coming under pressure. ..."
"... Of course, this doesn't mean liked-minded groups of countries with similar-enough or sympathetic-enough economies and politics should avoid free trade: clearly for some states it can work out nicely - even if within the EU one could argue there are also underlying strains. However, it is a huge stretch to assume a one-size-fits-all free trade policy will always work best for all countries, as some would have it. That is a fairy tale. History shows it wasn't the case; national security concerns show it can never always be the case; and Ricardo argues this logically won't be the case. ..."
Jan 25, 2020 | www.zerohedge.com

"When I used to read fairy tales, I fancied that kind of thing never happened, and now here I am in the middle of one!" (Alice in Wonderland, Chapter 4, The Rabbit Sends in a Little Bill)

Submitted by Michael Every of Rabobank

2020 starts with markets feeling optimistic due to a US-China trade deal and a reworked NAFTA in the form of the USMCA. However, the tide towards protectionism may still be coming in, not going out.

The intellectual appeal of the basis for free trade, Ricardo's theory of comparative advantage, where Portugal specializes in wine, and the UK in cloth, is still clearly there. Moreover, trade has always been a beneficial and enriching part of human culture. Yet the fact is that for the majority of the last 5,000 years global trade has been highly-politicized and heavily-regulated . Indeed, global free-trade only began following the abolition of the UK Corn Laws in 1846, which reduced British agricultural tariffs, brought in European wheat and corn, and allowed the UK to maximize its comparative advantage in industry.

Yet it took until 1860 for the UK to fully embrace free trade, and even then the unpalatable historical record is that during this 'golden age', the British:

As we showed back in ' Currency and Wars ', after an initial embrace of free trade, the major European powers and Japan saw that their relative comparative advantage meant they remained at the bottom of the development ladder as agricultural producers, an area where prices were also being depressed by huge US output; meanwhile, the UK sold industrial goods, ran a huge trade surplus, and ruled the waves militarily. This was politically unsustainable even though the UK vigorously backed the intellectual concept of free trade given it was such a winner from it.

Regardless, the first flowering of free trade collapsed back into nationalism and protectionism - bloodily so in 1914. Free trade was tried again from 1919 - but burned-out even more bloodily in the 1930s and 1940s. After WW2, most developed countries had moderately free trade - but most developing countries did not. We only started to re-embrace global free trade from the 1990s onwards when the Cold War ended – and here it is under stress again. In short, only around 100 years in a total of 5,000 years of civilization has seen real global free trade, it has failed twice already, and it is once again coming under pressure.

What are we getting wrong? Perhaps that Ricardo's theory has major flaws that don't get included in our textbooks, as summarized in this overlooked quote

"It would undoubtedly be advantageous to the capitalists of England [that] the wine and cloth should both be made in Portugal [and that] the capital and labour of England employed in making cloth should be removed to Portugal for that purpose." Which is pretty much what happens today! However, Ricardo adds that this won't happen because "Most men of property [will be] satisfied with a low rate of profits in their own country, rather than seek a more advantageous employment for their wealth in foreign nations," which is simply not true at all! In other words, his premise is flawed in that:

As Ricardo's theory requires key conditions that are not met in reality most of the time, why are we surprised that most of reality fails to produce idealised free trade most of the time? Several past US presidents before Donald Trump made exactly that point. Munroe (1817-25) argued: " The conditions necessary for Free Trade's success - reciprocity and international peace - have never occurred and cannot be expected ". Grant (1869-77) noted "Within 200 years, when America has gotten out of protection all that it can offer, it too will adopt free trade".

Yet arguably we are better, not worse, off regardless of these sentiments – so hooray! How so? Well, did you know that Adam Smith, who we equate with free markets, and who created the term "mercantile system" to describe the national-protectionist policies opposed to it, argued the US should remain an agricultural producer and buy its industrial goods from the UK? It was Founding Father Alexander Hamilton who rejected this approach, and his "infant industry" policy of industrialization and infrastructure spending saw the US emerge as the world's leading economy instead. That was the same development model that, with tweaks, was then adopted by pre-WW1 Japan, France, and Germany to successfully rival the UK; and then post-WW2 by Japan (again) and South Korea; and then more recently by China, that key global growth driver. Would we really be better off if the US was still mainly growing cotton and wheat, China rice and apples, and the UK was making most of the world's consumer goods? Thank the lack of free trade if you think otherwise!

Yet look at the examples above and there is a further argument for more protectionism ahead. Ricardo assumes a benign global political environment for free trade . Yet what if the UK and Portugal are rivals or enemies? What if the choice is between steel and wine? You can't invade neighbours armed with wine as you can with steel! A large part of the trade tension between China and the US, just as between pre-WW1 Germany and the UK, is not about trade per se: for both sides, it is about who produces key inputs with national security implications - and hence is about relative power . This is why we hear US hawks underlining that they don't want to export their highest technology to China, or to specialize only in agricultural exports to it as China moves up the value-chain. It also helps underline why for most of the past 5,000 years trade has not been free. Indeed, this argument also holds true for the other claimed benefit of free trade: the cross-flow of ideas and technology. That is great for friends, but not for those less trusted.

Of course, this doesn't mean liked-minded groups of countries with similar-enough or sympathetic-enough economies and politics should avoid free trade: clearly for some states it can work out nicely - even if within the EU one could argue there are also underlying strains. However, it is a huge stretch to assume a one-size-fits-all free trade policy will always work best for all countries, as some would have it. That is a fairy tale. History shows it wasn't the case; national security concerns show it can never always be the case; and Ricardo argues this logically won't be the case.

Yet we need not despair. The track record also shows that global growth can continue even despite protectionism, and in some cases can benefit from it. That being said, should the US resort to more Hamiltonian policies versus everyone, not just China, then we are in for real financial market turbulence ahead given the role the US Dollar plays today compared to the role gold played for Smith and Ricardo! But that is a whole different fairy tale...

[Jan 23, 2020] An incredible level of naivety of people who still think that a single individual, or even two, can change the direction of murderous US policies that are widely supported throughout the bureaucracy?

Highly recommended!
The deep state clearly is running the show (with some people unexpected imput -- see Trump ;-)
Elections now serve mainly for the legitimizing of the deep state rule; election of a particular individual can change little, although there is some space of change due to the power of executive branch. If the individual stray too much form the elite "forign policy consensus" he ether will be JFKed or Russiagated (with the Special Prosecutor as the fist act and impeachment as the second act of the same Russiagate drama)
But a talented (or reckless) individual can speed up some process that are already under way. For example, Trump managed to speed up the process of destruction of the USA-centered neoliberal empire considerably. Especially by launching the trade war with China. He also managed to discredit the USA foreign policy as no other president before him. Even Bush II.
Jan 23, 2020 | www.moonofalabama.org
Trailer Trash , Jan 23 2020 18:30 utc | 44
>This is the most critical U.S. election in our lifetime
> Posted by: Circe | Jan 23 2020 17:46 utc | 36

Hmmm, I've been hearing the same siren song every four years for the past fifty. How is it that people still think that a single individual, or even two, can change the direction of murderous US policies that are widely supported throughout the bureaucracy?

Bureaucracies are reactionary and conservative by nature, so any new and more repressive policy Trumpy wants is readily adapted, as shown by the continuing barbarity of ICE and the growth of prisons and refugee concentration camps. Policies that go against the grain are easily shrugged off and ignored using time-tested passive-aggressive tactics.

One of Trump's insurmountable problems is that he has no loyal organization behind him whose members he can appoint throughout the massive Federal bureaucracy. Any Dummycrat whose name is not "Biden" has the same problem. Without a real mass-movement political party to pressure reluctant bureaucrats, no politician of any name or stripe will ever substantially change the direction of US policy.

But the last thing Dummycrats want is a real mass movement, because they might not be able to control it. Instead Uncle Sam will keep heading towards the cliff, which may be coming into view...


Per/Norway , Jan 23 2020 19:31 utc | 62

The amount of TINA worshipers and status quo guerillas is starting to depress me.
HOW IS IT POSSIBLE to believe A politician will/can change anything and give your consent to war criminals and traitors?
NO person(s) WILL EVER get to the top in imperial/vassal state politics without being on the rentier class side, the cognitive dissonans in voting for known liars, war criminals and traitors would kill me or fry my brain. TINA is a lie and "she" is a real bitch that deserves to be thrown on the dump off history, YOUR vote is YOUR consent to murder, theft and treason.
DONT be a rentier class enabler STOP voting and start making your local communities better and independent instead.

Per
Norway

Piotr Berman , Jan 23 2020 20:19 utc | 82
The amount of TINA worshipers and status quo guerillas is starting to depress me. <- Norway

Of course, There Is Another Way, for example, kvetching. We can boldly show that we are upset, and pessimistic. One upset pessimists reach critical mass we will think about some actions.

But being upset and pessimistic does fully justify inactivity. In particular, given the nature of social interaction networks, with spokes and hubs, dominating the network requires the control of relatively few nodes. The nature of democracy always allows for leverage takeover, starting from dominating within small to the entire nation in few steps. As it was nicely explained by Prof. Overton, there is a window of positions that the vast majority regards as reasonable, non-radical etc. One reason that powers to be invest so much energy vilifying dissenters, Russian assets of late, is to keep them outside the Overton window.

Having a candidate elected that the curators of Overton window hate definitely shakes the situation with the potential of shifting the window. There were some positive symptoms after Trump was elected, but negatives prevail. "Why not we just kill him" idea entered the window, together with "we took their oil because we have guts and common sense".

From that point of view, visibility of Tulsi and election of Sanders will solve some problems but most of all, it will make big changes in Overton window.

[Jan 19, 2020] Internal Boeing Emails Claim 777X Shares MAX Problem

Jan 19, 2020 | www.zerohedge.com

Tillyoudrop , 49 seconds ago link

Greed is good, greed is right, greed works.

Neochrome , 2 minutes ago link

sacrificing the safety of the planes to drive sales higher

Good thing we sentence people to life in jail for shoplifting couple of t-shirts, safety restored.

VodkaInKrakow , 12 minutes ago link

Financialization killed Boeing. All those MBA's who dreamed up outsourced supply-chains for the Dreamliner. Thought they were going to make a lot of money through savings.

Silly rabbit MBA's... if you don't spend money? You don't make money.

MBA graduates are f*cking useless retards trained in only one system: FAILURE.

What sank McDonald Douglas - bought out by Boeing? Is the same bullsh*t that is ruining Boeing. Boeing kept a lot of board member & management failures around from McDonald Douglas. Poisoned the Boeing culture.

Bounder , 14 minutes ago link

How many of you remember all the McDonald Douglas passenger jet success stories? There wasnt any - the whole mgmt of MD was to to strip out every possible cost and maximize very profit at the expense of the end customer and the government - and these are the guys who bought Boeing - and then made the first step of moving the headquarters to chicago. Guess which party gave lots and lots of government boondoggles to MD?

VodkaInKrakow , 10 minutes ago link

Damn. Wish I would have read your comment.

I had a Polish executive tell me how proud they were as they were about to hire an American executive who graduated with an MBA.

That is, until I asked him... "Have you checked what happened to the previous companies that he worked at?"

So the Polish executive did just that. This led to a ban on hiring any American MBA. Turns out, the American MBA worked at companies, all of which FAILED.

Though, somehow, despite a track record of working at failed companies? The American was still quite well off.

VodkaInKrakow , 1 minute ago link

Boeing is a symbol of American reliability that reflected hugely upon American manufacturing.

Well, WAS a symbol of American reliability. Which casts doubt upon American manufacturing.

Confidence in American manufacturing quality is in GRAVE DOUBT. Which leads to people seeking their products elsewhere.

The US business leadership consists of crapification.

fedslayer , 20 minutes ago link

Ok but what's the alternative?

If the parts meet specifications, get the lowest price.

If you don't, you will have executives drop-shipping parts. That's what i would do.

If you don't go with the lowest-price, executives like me will rob you blind.

east of eden , 16 minutes ago link

The ******* alternative you stupid ******* americunt is already in the air. They are labelled Airbus A220 and A230, otherwise known as Bombardier CS200 and CS300 and they are sold out 15 years in advance.

VodkaInKrakow , 4 minutes ago link

That was part of the problem. The parts from Boeing's foreign suppliers MET SPECIFICATIONS.

That is, until they went to assemble the Dreamliner. Where parts did not fit together.

You see, Boeing found out LONG, LONG AGO... that it was necessary to have manufacturing close to design. That way, when parts that "met specifications" did not fit? The engineers and machinists were there to correct deficiencies. Thus leading to reliable planes that were fit together very well. Only THEN could Boeing could assemble parts in other locations and mate them together.

This never happened with the Dreamliner. Quadrupled costs. The Dreamliner only exists thanks to taxpayer subsidies through the ExIm Bank. The Dreamliner WILL NEVER BE PROFITABLE. Accounting gimmicks make it appear as if Boeing makes money on the Dreamliner.

Bay Area Guy , 28 minutes ago link

Amazing that in less than a generation, we go from "if it's not Boeing, I'm not going" to wondering what the next Boeing screw-up will be and how many will be killed as a result.

The existing 777 is a fantastic plane and, other than pilot error (Asiana at SFO), a missile attack (Malaysia 17) and some unknown (but apparently not mechanical) issue (Malaysia 370), the 777 has been the safest plane around.

Ignorance is bliss , 1 hour ago link

American executives are incentivized to manipulate their company's stock. So they squeeze the workforce and cut everything to the bone. That's why Boeing, GM, and other household names are crashing.

According to economist William Lazonick, Boeing spent $43.1 billion on stock buybacks from 2013 to 2019, raising the company's stock price to a record high just 10 days before the second crash of its 737 MAX. Boeing CEO Muilenburg collects most of his pay through stock or compensation based on financial metrics. Yet the company reportedly avoided spending the estimated $7 billion it would have needed to engineer a safer plane. Less than 10 years after a public sector bailout, GM has spent $10.6 billion on stock buybacks, while engaging in layoffs and plant closures. That amounts to $221,308 for each of the 47,897 active UAW members currently on strike at GM. Walmart spent $9.2 billion on stock buybacks from August 2018 to July 2019, which, by my calculations, could have been used to give a raise of roughly $5/ hour to each of its 1 million hourly workers instead.

Illegal , 56 minutes ago link

Boeing should have been spending all its supposed profits on R&D. The other problem is the military side of the business is grossly corrupt. Remember the blowup over Air Force 1?

flyonmywall , 24 minutes ago link

Yep. Stock buybacks.

This is what happens when the Federal Reserve lets the financial cat out the bag, and pump up the stock market to the tune of 35-60 billion every 3 days, because some hedge funds "could" fail and topple the financial system.

If multiple entities are now too important and could topple the financial system if they failed, the Fed has massively screwed up.

aldol11 , 1 hour ago link

In 1991 a Boeing purchaser told me that he would give us a contract if we transferred 51% of the shares to a minority.

This is God's truth

He added that when he could not find minority businesses that would make components according to specifications, he would buy stuff from minority owned businesses and not use it but store it in warehouses around the country indefinitely. this in order to meet a quota of 20% purchases from minority owned businesses mandated by the Feds for all government suppliers.

I can just imagine how bad the discrimination is now.

Svastic , 1 hour ago link

Good grief. Look at Boeing's board of directors anyway.

https://www.boeing.com/company/general-info/corporate-governance.page

These are politically connected animals who feed from the trough of government pork barrel a.k.a taxpayer money. Exactly what has Nikki Haley achieved in her life, except for being a pathological liar?

These animals were responsible for our reckless fiscal deficits and looming debt bombs which will soon come crashing down. Kinda good metaphor for Boeing.

BidnessMan , 46 minutes ago link

All former CFOs and politicians ( civilian and military - only political types in the military get stars ). No evidence of any engineering expertise. Sad for a once-proud global leader.

moseybear , 1 hour ago link

In the "investor economy", there is no morality. EVERYTHING is "commoditized". Even you .. your DNA. A pricetag hovers over your head like a dialog bubble. Bean counters can incorporate your morbidity and mortality into mathematical equations showing investors why cutting costs and saving 0.01% is worthy of investment. While 911 was the paradigm shift for Rights ... the Lehman "crisis" was its own "911" -- the death of the labor economy ... and rise of the "investor economy". Nobody works, trading time for dollars. They "invest" Why work? Investors can kill without being held personally responsible. They only risk their fiat capital. You die.

[Jan 18, 2020] The joke is on us: Without the USSR the USA oligarchy resorted to cannibalism and devour the American people

Highly recommended!
Jan 18, 2020 | www.theguardian.com

In another sense, however, the passing of the cold war could not have been more disorienting. In 1987, Georgi Arbatov, a senior adviser to the Soviet leader Mikhail Gorbachev , had warned: "We are going to do a terrible thing to you – we are going to deprive you of an enemy."

...Winning the cold war brought Americans face-to-face with a predicament comparable to that confronting the lucky person who wins the lottery: hidden within a windfall is the potential for monumental disaster.

[Jan 12, 2020] Luongo Fears "An Abyss Of Losses" As Iraq Becomes MidEast Battleground

Highly recommended!
Jan 12, 2020 | www.zerohedge.com

Authored by Tom Luongo via Gold, Goats, 'n Guns blog,

The future of the U.S.'s involvement in the Middle East is in Iraq. The exchange of hostilities between the U.S. and Iran occurred wholly on Iraqi soil and it has become the site on which that war will continue.

Israel continues to up the ante on Iran, following President Trump's lead by bombing Shia militias stationed near the Al Bukumai border crossing between Syria and Iraq.

The U.S. and Israel are determined this border crossing remains closed and have demonstrated just how far they are willing to go to prevent the free flow of goods and people across this border.

The regional allies of Iran are to be kept weak, divided and constantly under harassment.

Iraq is the battleground because the U.S. lost in Syria. Despite the presence of U.S. troops squatting on Syrian oil fields in Deir Ezzor province or the troops sitting in the desert protecting the Syrian border with Jordan, the Russians, Hezbollah and the Iranian Quds forces continue to reclaim territory previously lost to the Syrian government.

Now with Turkey redeploying its pet Salafist head-choppers from Idlib to Libya to fight General Haftar's forces there to legitimize its claim to eastern Mediterannean gas deposits, the restoration of Syria's territorial integrity west of the Euphrates River is nearly complete.

The defenders of Syria can soon transition into the rebuilders thereof, if allowed. And they didn't do this alone, they had a silent partner in China the entire time.

And, if I look at this situation honestly, it was China stepping out from behind the shadows into the light that is your inciting incident for this chapter in Iraq's story.

China moving in to sign a $10.1 billion deal with the Iraqi government to begin the reconstruction of its ruined oil and gas industry in exchange for oil is of vital importance.

It doubles China's investment in Iraq while denying the U.S. that money and influence.

This happened after a massive $53 billion deal between Exxon-Mobil and Petrochina was put on hold after the incident involving Iran shooting down a U.S. Global Hawk drone in June.

With the U.S balking over the Exxon/Petrochina big deal, Iraqi Prime Minster Adel Abdul Mahdi signed the new one with China in October. Mahdi brought up the circumstances surrounding that in Iraqi parliaments during the session in which it passed the resolution recommending removal of all foreign forces from Iraq.

Did Trump openly threaten Mahdi over this deal as I covered in my podcast on this? Did the U.S. gin up protests in Baghdad, amplifying unrest over growing Iranian influence in the country?

And, if not, were these threats simply implied or carried by a minion (Pompeo, Esper, a diplomat)? Because the U.S.'s history of regime change operations is well documented. Well understood color revolution tactics used successfully in places like Ukraine , where snipers were deployed to shoot protesters and police alike to foment violence between them at the opportune time were on display in Baghdad.

Mahdi openly accused Trump of threatening him, but that sounds more like Mahdi using the current impeachment script to invoke the sinister side of Trump and sell his case.

It's not that I don't think Trump capable of that kind of threat, I just don't think he's stupid enough to voice it on an open call. Donald Trump is capable of many impulsive things, openly threatening to remove an elected Prime Minister on a recorded line is not one of them.

Mahdi has been under the U.S.'s fire since he came to power in late 2018. He was the man who refused Trump during Trump's impromptu Christmas visit to Iraq in 2018 , refusing to be summoned to a clandestine meeting at the U.S. embassy rather than Trump visit him as a head of state, an equal.

He was the man who declared the Iraqi air space closed after Israeli air attacks on Popular Mobilization Force (PMF) positions in September.

And he's the person, at the same time, being asked by Trump to act as a mediator between Saudi Arabia and Iran in peace talks for Yemen.

So, the more we look at this situation the more it is clear that Abdul Madhi, the first Iraqi prime minister since the 2003 U.S. invasion push for more Iraqi sovereignty, is emerging as the pivotal figure in what led up to the attack on General Soleimani and what comes after Iran's subsequent retaliation.

It's clear that Trump doesn't want to fight a war with Iran in Iran. He wants them to acquiesce to his unreasonable demands and begin negotiating a new nuclear deal which definitively stops the possibility of Iran developing a nuclear weapon, and as P atrick Henningsen at 21st Century Wire thinks ,

Trump now wants a new deal which features a prohibition on Iran's medium range missiles , and after events this week, it's obvious why. Wednesday's missile strike by Iran demonstrates that the US can no longer operate in the region so long as Iran has the ability to extend its own deterrence envelope westwards to Syria, Israel, and southwards to the Arabian Peninsula, and that includes all US military installations located within that radius.

Iraq doesn't want to be that battlefield. And Iran sent the message with those two missile strikes that the U.S. presence in Iraq is unsustainable and that any thought of retreating to the autonomous Kurdish region around the air base at Erbil is also a non-starter.

The big question, after this attack, is whether U.S. air defenses around the Ain al Assad airbase west of Ramadi were active or not. If they were then Trump's standing down after the air strikes signals what Patrick suggests, a new Middle East in the making.

If they were not turned on then the next question is why? To allow Iran to save face after Trump screwed up murdering Soleimani?

I'm not capable of believing such Q-tard drivel at this point. It's far more likely that the spectre of Russian electronics warfare and radar evasion is lurking in the subtext of this story and the U.S. truly now finds itself after a second example of Iranian missile technology in a nascent 360 degree war in the region.

It means that Iran's threats against the cities of Haifa and Dubai were real.

In short, it means the future of the U.S. presence in Iraq now measures in months not years.

Because both China and Russia stand to gain ground with a newly-united Shi'ite Iraqi population. Mahdi is now courting Russia to sell him S-300 missile defense systems to allow him to enforce his demands about Iraqi airspace.

Moqtada al-Sadr is mobilizing his Madhi Army to oust the U.S. from Iraq. Iraq is key to the U.S. presence in the region. Without Iraq the U.S. position in Syria is unsustainable.

If the U.S. tries to retreat to Kurdish territory and push again for Masoud Barzani and his Peshmerga forces to declare independence Turkish President Recep Tayyip Erdogan will go ballistic.

And you can expect him to make good on his threat to close the Incerlik airbase, another critical logistical juncture for U.S. force projection in the region.

But it all starts with Mahdi's and Iraq's moves in the coming weeks. But, with Trump rightly backing down from escalating things further and not following through on his outlandish threats against Iran, it may be we're nearing the end of this intractable standoff.

Back in June I told you that Iran had the ability to fight asymmetrically against the U.S., not through direct military confrontation but through the after-effects of a brief, yet violent period of war in which all U.S., Israeli and Arab assets in the Middle East come under fire from all directions.

It sent this same message then that by attacking oil tankers it could make the transport of oil untenable and not insurable. We got a taste of it back then and Trump, then, backed down.

And the resultant upheaval in the financial markets creating an abyss of losses, cross-asset defaults, bank failures and government collapses.

Trump has no real option now but to negotiate while Iraq puts domestic pressure on him to leave and Russia/China come in to provide critical economic and military support to assist Mahdi rally his country back towards some semblance of sovereignty

* * *

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MalteseFalcon , 3 minutes ago link

OK kids,

Play time is over.

China needs Iraqi oil to build the BRI.

Last one into Africom is a rotten egg!!!!

daveeemc2 , 14 minutes ago link

This is the most delicious of irony

https://en.wikipedia.org/wiki/Financial_cost_of_the_Iraq_War

The american imperial style of intervention is dead.

China debt trap model of belt and road is the path forward.

They will win hearts and minds, and not a single shot fired.

USA gets debt from paying war machine and killed and maimed soldiers whose personal psychiatry will haunt them for an entire lifetime.

In the end, Americans get nothing but debt and risk their own soverignty as a population ages and infrastructure crumbles....kinda like now.

MalteseFalcon , 1 minute ago link

The last 30 years of American foreign policy has been an unmitigated disaster.

yerfej , 26 minutes ago link

How about "what is the goal?" There is none of course. The assholes in the Washington/MIC just need war to keep them relevant. What if the US were to closed down all those wars and foreign bases? THEN the taxpayer could demand some accounting for the trillions that are wasted on complete CRAP. There are too many old leftovers from the cold war who seem to think there is benefit to fighting wars in shithole places just because those wars are the only ones going on right now. The stupidity of the ****** in the US military/MIC/Washington is beyond belief. JUST LEAVE you ******* idiots.

Rusticus2.0 , 22 minutes ago link

Your comment should have been directed at Trump, the commander in chief.

I guess that's still a bridge too far, but sooner than later you're going to have to cross it.

BobEore , 29 minutes ago link

Excellent Smithers, excellent:

Sometimes, in treading thru the opaque, sandstorm o ******** swept wastes of the ' desert of the really real '...

one must rely upon a marking... some kind of guidepost, however tenuous, to show you to be still... on the trail, not lost in the vast haunted reaches of post-reality. And you know, Tommy is that sort of guide; the sort of guy who you take to the fairgrounds, set him up with the 'THROW THE BALL THRU THE HOOP... GUARANTEED PRIZE TO SCOOP' kiosk...

and he misses every time. Just by watching Tom run through his paces here... zeroing in on the exact WRONG interpretation of events ... every dawg gone time... one resets their compass to tru course and relaxes into the flow agin! Thanks Tom! Let's break down ... the Schlitzy shopping list of sloppy errors:

Israel continues to up the ante on Iran, f ollowing President Trump's lead by bombing Shia militias stationed near the Al Bukumai border crossing between Syria and Iraq. Urusalem.. and its pathetically obedient dogsbody USSA ... are busy setting up RIMFISTAN Tom.. you really need to start expanding your reading list; On both sides of that border you mention .. they will be running - and guarding - pipeline running to the mothership. Shia miitias and that project just don't mix. Nobody gives a frying fluck bout your imaginary 'land bridge to the Med'... except you and the gomers. And you and they aren't ANYWHERES near to here.

  • Abdul Madhi, the first Iraqi prime minister since the 2003 U.S. invasion push for more Iraqi sovereignty, is emerging as the pivotal figure in what led up to the attack on General Soleimani and what comes after Iran's subsequent retaliation.
  • Ok... this is getting completely embarrassing. The man is a 'caretaker' Tom... that's similar to a 'janitor' - he's on the way out. If you really think thats' being pivotal... I'm gonna suggest that you've 'pivoted' on one of your goats too many times.

Look, Tom... I did sincerely undertake to hold your arm, and guide you through this to a happier place. But you... are underwater my man. And that's quite an accomplishment, since we be traveling through the deserts of the really real. You've enumerated a list of things which has helped me to understand just how completely distorted is the picture of the situation here in mudded east.. is... in the minds of the myriad victims of your alt-media madness. And I thank you for that. But its time we part company.

These whirring klaidescope glasses I put on, in order to help me see how you see things, have given me a bit of a headache. Time to return to seeing the world... as it really works!

simpson seers , 14 minutes ago link

says the yankee chicken ******......

Fireman , 32 minutes ago link

Like Ukraine, everything the anglozionazi empire of **** smear$...turns to ****.

https://www.youtube.com/watch?v=gVMbCTWRcSs

https://theduran.com/ukranian-whistleblower-reveals-mh-17-tragedy-was-orchestrated-by-poroshenko-and-british-secret-service/

https://www.youtube.com/watch?time_continue=3&v=wR1NFI6TBH0

BGO , 39 minutes ago link

The whole *target and destroy* Iran (and Iraq) clusterfuck has always been about creating new profit scenarios, profit theaters, for the MIC.

If the US govt was suddenly forced to stop making and selling **** designed to kill people... if the govt were forced to stopping selling **** to other people so they can kill people... if the govt were forced to stop stockpiling **** designed to kill people just so other people would stop building and stockpiling **** designed to kill people... first the US then the world would collapse... everyone would finally see... the US is a nation of people that allows itself to be propped up by the worst sort of people... an infinitesimally small group of gangsters who legally make insane amounts of money... by creating in perpetuity... forever new scenarios that allow them to kill other people.

Jesus ******* Christ ZeroHedge software ******* sucks.

Fireman , 40 minutes ago link

Understanding why Agent Orange is a meat puppet.

The following has been known to cure T.D.S.

https://www.bitchute.com/video/NJF06yjvdErM/

Wantoknow , 44 minutes ago link

Why has Trump no real option? What do you believe are the limits of Trump's options that assure he must negotiate? Perhaps all out war is not yet possible politically in the US, but public sentiment has been manipulated before. Why not now?

One must not yet reject the idea that the road to Moscow and Beijing does not run through Iran. Throwing the US out of the Middle East would be a grievous failure for the deep state which has demonstrated itself to be absolutely ruthless. It is hard to believe the US will leave without a much more serious war forcing the issue.

So far Trump has appeared artless and that may continue but that artlessness may well bring a day when Trump will not back down.

Fireman , 39 minutes ago link

Why has Trump no real option?

Ask the towel girls at Maralago and Jeffrey Pedovore.

Rusticus2.0 , 49 minutes ago link

The motivation behind Trump pulling out of the Joint Comprehensive Plan of Action wasn't because, after careful analytical study of the plan, he decided it was a bad deal. It was because Israel demanded it as it didn't fit into their best interests and, as with the refreezing of relationships with Cuba, it was a easier way to undo Obama policy rather than tackling Obamacare. Hardly sound judgement.

The war will continue in Iraq as the Shia majority mobilize against an occupying force that has been asked to leave, but refuse. What will quickly become apparent is that this war is about to become far more multifaceted with Iraqi and Iranian proxies targeting American interests across numerous fronts.

Trump is the head of a business empire; Downsizing is not a strategy that he's ever employed; His business history is a case study in go big or go bust.

not-me---it-was-the-dog , 32 minutes ago link

so it will work like this....

trump's zionist overlords have demanded he destroy iran.

as a simple lackey, he agreed, but he does need political cover to do so.

thus the equating of any attack or threat of attack by any group of any political persuasion as originating from iran.

any resistance by the shia in iraq will be considered as being directed from iran, thus an attack on iran is warranted.

any resistance by the currect governement of iraq will be considered as being directed from iran, thus an attack on iran is warranted.

any resistance by the sunni in iraq will be considered subversion by iran, or a false flag by iran, thus an attack on iran is warranted.

trump's refusal to follow the SOFA agreement, and heed the call of the democratic government we claim to have gone in to install, is specifically designed to lead to more violence, which in turn can be blamed on iran's "malign" influence, which gives the entity lackeys cover to spread more democracy.

MIGA!

Brazen Heist II , 55 minutes ago link

America is a nation of imbeciles. They have meddled in Iraq since the 1980s and still can't subdue the place to their content.

Dey hate us for our freedumbs!

Ghost who Walks , 54 minutes ago link

I'm more positive that Iraq can resolve its issues without starting a Global War.

The information shared by the Iraqi Prime Minister goes part way to awakening the population as to what is happening and why.

Once more information starts to leak out (and it will from those individuals who want to avoid extinction) the broad mass of the global population can take action to protect themselves from the psychopaths.

new game , 1 hour ago link

This is what empires in decline do. Hubris...

meanwhile China rises with Strategic economic investment.

And the econ hitmen aren't done yet...

moar war...

Arising , 1 hour ago link

China moving in to sign a $10.1 billion deal with the Iraqi government to begin the reconstruction of its ruined oil and gas industry in exchange for oil is of vital importance.

Come on Tom, you should know better than that: the U.S will destroy any agreements between China and the people of Iraq.

The oil will continue to be stolen and sent to Occupied Palestine to administer and the people of Iraq will be in constant revolt, protest mode and subjugation- but they will never know they are being manipulated by the thieving zionists in D.C and Tel aviv.

Ms No , 1 hour ago link

Agreed. It will take nothing short of a miracle to stop this. Time isnt on their side though so they better get on it. They will do something big to get it going.

RoyalDraco , 14 minutes ago link

This isn't "humanity." Few people are psychopathic killers. It is being run by a small cliche of Satanists who are well on their way to enslaving humanity in a dystopia even George Orwell could not imagine. They control most of the levers of power and influence and have done so for centuries.

Why of course the people don't want war. Why should some poor slob on a farm want to risk his life in a war when the best he can get out of it is to come back to his farm in one piece? Naturally, the common people don't want war; neither in Russia, nor in England, nor for that matter in Germany. That is understood. But, after all, it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along, whether it is a democracy, or a fascist dictatorship, or a parliament, or a communist dictatorship. Voice or no voice, the people can always be brought to the bidding of the leaders. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.

- Reichsmarschall Hermann Göring's testimony before the Nuremberg tribunal on crimes against humanity

[Jan 11, 2020] Atomization of workforce as a part of atomization of society under neoliberalism

Highly recommended!
Notable quotes:
"... a friend of mine, born in Venice and a long-time resident of Rome, pointed out to me that dogs are a sign of loneliness. ..."
"... And the cafes and restaurants on weekends in Chicago–chockfull of people, each on his or her own Powerbook, surfing the WWW all by themselves. ..."
"... The preaching of self-reliance by those who have never had to practice it is galling. ..."
"... Katherine: Agreed. It is also one of the reasons why I am skeptical of various evangelical / fundi pastors, who are living at the expense of their churches, preaching about individual salvation. ..."
"... So you have the upper crust (often with inheritances and trust funds) preaching economic self-reliances, and you have divines preaching individual salvation as they go back to the house provided by the members of the church. ..."
Apr 18, 2017 | www.nakedcapitalism.com
DJG , April 17, 2017 at 11:09 am
Neoliberalism is creating loneliness. That's what's wrenching society apart George Monbiot, Guardian

George Monbiot on human loneliness and its toll. I agree with his observations. I have been cataloguing them in my head for years, especially after a friend of mine, born in Venice and a long-time resident of Rome, pointed out to me that dogs are a sign of loneliness.

A couple of recent trips to Rome have made that point ever more obvious to me: Compared to my North Side neighborhood in Chicago, where every other person seems to have a dog, and on weekends Clark Street is awash in dogs (on their way to the dog boutiques and the dog food truck), Rome has few dogs. Rome is much more densely populated, and the Italians still have each other, for good or for ill. And Americans use the dog as an odd means of making human contact, at least with other dog owners.

But Americanization advances: I was surprised to see people bring dogs into the dining room of a fairly upscale restaurant in Turin. I haven't seen that before. (Most Italian cafes and restaurants are just too small to accommodate a dog, and the owners don't have much patience for disruptions.) The dogs barked at each other for while–violating a cardinal rule in Italy that mealtime is sacred and tranquil. Loneliness rules.

And the cafes and restaurants on weekends in Chicago–chockfull of people, each on his or her own Powerbook, surfing the WWW all by themselves.

That's why the comments about March on Everywhere in Harper's, recommended by Lambert, fascinated me. Maybe, to be less lonely, you just have to attend the occasional march, no matter how disorganized (and the Chicago Women's March organizers made a few big logistical mistakes), no matter how incoherent. Safety in numbers? (And as Monbiot points out, overeating at home alone is a sign of loneliness: Another argument for a walk with a placard.)

Katharine , April 17, 2017 at 11:39 am

I particularly liked this point:

In Britain, men who have spent their entire lives in quadrangles – at school, at college, at the bar, in parliament – instruct us to stand on our own two feet.

With different imagery, the same is true in this country. The preaching of self-reliance by those who have never had to practice it is galling.

DJG , April 17, 2017 at 11:48 am

Katherine: Agreed. It is also one of the reasons why I am skeptical of various evangelical / fundi pastors, who are living at the expense of their churches, preaching about individual salvation.

So you have the upper crust (often with inheritances and trust funds) preaching economic self-reliances, and you have divines preaching individual salvation as they go back to the house provided by the members of the church.

[Jan 02, 2020] The Purpose Of Life Is Not Happiness: It s Usefulness Happiness as an achievable goal is an illusion, but that doesn t mean happiness itself is not attainable by Darius Foroux

Highly recommended!
Notable quotes:
"... "The purpose of life is not to be happy. It is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well." ..."
"... Recently I read Not Fade Away by Laurence Shames and Peter Barton. It's about Peter Barton, the founder of Liberty Media, who shares his thoughts about dying from cancer. ..."
Aug 22, 2019 | getpocket.com

For the longest time, I believed that there's only one purpose of life: And that is to be happy. Right? Why else go through all the pain and hardship? It's to achieve happiness in some way. And I'm not the only person who believed that. In fact, if you look around you, most people are pursuing happiness in their lives.

That's why we collectively buy shit we don't need, go to bed with people we don't love, and try to work hard to get approval of people we don't like.

Why do we do these things? To be honest, I don't care what the exact reason is. I'm not a scientist. All I know is that it has something to do with history, culture, media, economy, psychology, politics, the information era, and you name it. The list is endless.

We are who are.

Let's just accept that. Most people love to analyze why people are not happy or don't live fulfilling lives. I don't necessarily care about the why .

I care more about how we can change.

Just a few short years ago, I did everything to chase happiness.

But at the end of the day, you're lying in your bed (alone or next to your spouse), and you think: "What's next in this endless pursuit of happiness?"

Well, I can tell you what's next: You, chasing something random that you believe makes you happy.

It's all a façade. A hoax. A story that's been made up.

Did Aristotle lie to us when he said:

"Happiness is the meaning and the purpose of life, the whole aim and end of human existence."

I think we have to look at that quote from a different angle. Because when you read it, you think that happiness is the main goal. And that's kind of what the quote says as well.

But here's the thing: How do you achieve happiness?

Happiness can't be a goal in itself. Therefore, it's not something that's achievable. I believe that happiness is merely a byproduct of usefulness. When I talk about this concept with friends, family, and colleagues, I always find it difficult to put this into words. But I'll give it a try here. Most things we do in life are just activities and experiences.

Those things should make you happy, right? But they are not useful. You're not creating anything. You're just consuming or doing something. And that's great.

Don't get me wrong. I love to go on holiday, or go shopping sometimes. But to be honest, it's not what gives meaning to life.

What really makes me happy is when I'm useful. When I create something that others can use. Or even when I create something I can use.

For the longest time I foud it difficult to explain the concept of usefulness and happiness. But when I recently ran into a quote by Ralph Waldo Emerson, the dots connected.

Emerson says:

"The purpose of life is not to be happy. It is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well."

And I didn't get that before I became more conscious of what I'm doing with my life. And that always sounds heavy and all. But it's actually really simple.

It comes down to this: What are you DOING that's making a difference?

Did you do useful things in your lifetime? You don't have to change the world or anything. Just make it a little bit better than you were born.

If you don't know how, here are some ideas.

That's just some stuff I like to do. You can make up your own useful activities.

You see? It's not anything big. But when you do little useful things every day, it adds up to a life that is well lived. A life that mattered.

The last thing I want is to be on my deathbed and realize there's zero evidence that I ever existed.

Recently I read Not Fade Away by Laurence Shames and Peter Barton. It's about Peter Barton, the founder of Liberty Media, who shares his thoughts about dying from cancer.

It's a very powerful book and it will definitely bring tears to your eyes. In the book, he writes about how he lived his life and how he found his calling. He also went to business school, and this is what he thought of his fellow MBA candidates:

"Bottom line: they were extremely bright people who would never really anything, would never add much to society, would leave no legacy behind. I found this terribly sad, in the way that wasted potential is always sad."

You can say that about all of us. And after he realized that in his thirties, he founded a company that turned him into a multi-millionaire.

Another person who always makes himself useful is Casey Neistat . I've been following him for a year and a half now, and every time I watch his YouTube show , he's doing something.

He also talks about how he always wants to do and create something. He even has a tattoo on his forearm that says "Do More."

Most people would say, "why would you work more?" And then they turn on Netflix and watch back to back episodes of Daredevil.

A different mindset.

Being useful is a mindset. And like with any mindset, it starts with a decision. One day I woke up and thought to myself: What am I doing for this world? The answer was nothing.

And that same day I started writing. For you it can be painting, creating a product, helping elderly, or anything you feel like doing.

Don't take it too seriously. Don't overthink it. Just DO something that's useful. Anything.

Darius Foroux writes about productivity, habits, decision making, and personal finance. His ideas and work have been featured in TIME, NBC, Fast Company, Inc., Observer, and many more publications. Join his free weekly newsletter.

More from Darius Foroux

This article was originally published on October 3, 2016, by Darius Foroux, and is republished here with permission. Darius Foroux writes about productivity, habits, decision making, and personal finance.

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[Jan 01, 2020] Radical "essentialist identity" left is just tools of financial oligarchy and/or stooges of intelligence agencies and always has been

Jan 01, 2020 | crookedtimber.org

likbez 12.31.19 at 2:25 pm

Tim 12.31.19 at 3:46 am @3

"If this succeeds, we'll be well on the path to dictatorship." This seems predicated on the idea that 'whites' will only be able to hold onto power by Dictatorship. Population trends suggest whites will still be the largest group [just under half] in 2055. A considerable group given their, to borrow the phrase, 'privilege'. Add conservative Asian and even Catholic Latino voters, is it that difficult to envisage a scenario where Republicans sometimes achieve power without Dictatorship? They are already benefiting from the radical left helping drive traditional working class white voters to the right [helped by Republican/Fox etc hyperbole].

Radical left is either idiots of stooges of intelligence agencies and always has been.

IMHO the idea that " whites" are or will be the force behind the move to the dictatorship is completely naïve. Dictatorship is needed for financial oligarchy and it is the most plausible path of development due to another factor -- the collapse of neoliberal ideology and complete discrediting of neoliberal elite. At least in the USA. Russiagate should be viewed as an attempt to stage a color revolution and remove the President by the USA intelligence agencies (in close cooperation with the "Five eyes") .

I would view Russiagate is a kind of Beer Hall Putsch with intelligence agencies instead of national-socialist party. A couple conspirators might be jailed after Durham investigation is finished (Hilter was jailed after the putsch), but the danger that CIA will seize the political power remains. After all KGB was in this role in the USSR for along time. Is the USA that different? I don't think so. There is no countervailing force: the number of people with security clearance in the USA exceed five million. This five million and not "whites" like some completely naïve people propose is the critical mass for the dictatorship.
https://news.yahoo.com/durham-surprises-even-allies-statement-202907008.html

The potential explosiveness of Durham's mission was further underscored by the disclosure that he was examining the role of John O. Brennan, the former CIA director, in how the intelligence community assessed Russia's 2016 election interference.

BTW "whites" are not a homogeneous group. There is especially abhorrent and dangerous neoliberal strata of "whites" including members of financial oligarchy, the "professional class" and "academia" (economics department are completely infected.) as well as MIC prostitutes in MSM.

[Dec 21, 2019] Trump administration sanction companies involved in laying the remaining pipe, and also companies involved in the infrastructure around the arrival point.

Highly recommended!
Dec 21, 2019 | peakoilbarrel.com

Watcher x Ignored says: 12/13/2019 at 6:27 am

The new US defense bill, agreed on by both parties, includes sanctions on executives of companies involved in the completion of Nordstream 2. This is companies involved in laying the remaining pipe, and also companies involved in the infrastructure around the arrival point.

This could include arrest of the executives of those companies, who might travel to the United States. One of the companies is Royal Dutch Shell, who have 80,000 employees in the United States.

Hightrekker x Ignored says: 12/13/2019 at 12:28 pm
So much for the "Free Market".
Hickory x Ignored says: 12/12/2019 at 11:28 pm
Some people believe 'the market' for crude oil is a fair and effective arbiter of the industry supply and demand. But if we step back an inch or two, we all can see it has been a severely broken mechanism during this up phase in oil. For example, there has been long lags between market signals of shortage or surplus.

Disruptive policies and mechanisms such as tariffs, embargo's, and sanctions, trade bloc quotas, military coups and popular revolutions, socialist agendas, industry lobbying, multinational corporate McCarthyism, and massively obese debt financing, are all examples of forces that have trumped an efficient and transparent oil market.

And yet, the problems with the oil market during this time of upslope will look placid in retrospect, as we enter the time beyond peak.
I see no reason why it won't turn into a mad chaotic scramble.
We had a small hint of what this can look like in the last mid-century. The USA responded to military expansionism of Japan by enacting an oil embargo against them. The response was Pearl Harbor. This is just one example of many.
How long before Iran lashes out in response to their restricted access to the market?
People generally don't respond very calmly to involuntary restriction on food, or energy, or access to the markets for these things.

[Dec 02, 2019] A bunch of neocons in key positions in Trump administration really represents a huge threat to world peace

Notable quotes:
"... No. My point was it's very misleading. Misleading to set the parameters of discussion on U.S. posture toward Russia in such a way as to assume that Putin's actions against a purported Russian "democracy" have anything at all to do with USian antagonism of Russia. I'm sure you'll note current U.S. military cooperation with that boisterous hotbed of democratic activity, Saudi Arabia, in Yemen. Our allies in the house of Saud require help in defending their democratic way of life against the totalitarianism of Yemeni tribes, you see. The U.S. opposes anti-democratic forces whenever and where ever it can, especially in the Middle East. I guess that explains USian antipathy to Russia. ..."
Oct 28, 2016 | crookedtimber.org
Howard Frank in this blog provides a good example of Vichy left thinking...

Howard Frant 10.26.16 at 6:19 am 73

Stephen @58

Howard Frant 10.26.16 at 6:19 am ( )

Stephen @58

Yes, it was late and I was tired, or I wouldn't have said something so foolish. Still, the point is that after centuries of constant war, Europe went 70 years without territorial conquest. That strikes me as a significant achievement, and one whose breach should not be taken lightly.

phenomenal cat @64

So democratic structures have to be robust and transparent before we care about them? I'd give a pretty high value to an independent press and contested elections. Those have been slowly crushed in Russia. The results for transparency have not been great. Personally, I don't believe that Ukraine is governed by fascists, or that Ukraine shot down that jetliner, but I'm sure a lot of Russians do.

Russian leaders have always complained about "encirclement," but we don't have to believe them. Do you really believe Russia's afraid of an attack from Estonia? Clearly what Putin wants is to restore as much of the old Soviet empire as possible. Do you think the independence of the Baltic states would be more secure or less secure if they weren't members of NATO? (Hint: compare to Ukraine, Georgia, Moldova.)

phenomenal cat 10.26.16 at 6:55 pm 84

"So democratic structures have to be robust and transparent before we care about them?"

No. My point was it's very misleading. Misleading to set the parameters of discussion on U.S. posture toward Russia in such a way as to assume that Putin's actions against a purported Russian "democracy" have anything at all to do with USian antagonism of Russia. I'm sure you'll note current U.S. military cooperation with that boisterous hotbed of democratic activity, Saudi Arabia, in Yemen. Our allies in the house of Saud require help in defending their democratic way of life against the totalitarianism of Yemeni tribes, you see. The U.S. opposes anti-democratic forces whenever and where ever it can, especially in the Middle East. I guess that explains USian antipathy to Russia.

"I'd give a pretty high value to an independent press and contested elections."

Yeah, it'd be interesting to see what the U.S. looked like with those dynamics in place.

"Those have been slowly crushed in Russia. The results for transparency have not been great."

If you say so. For now I'll leave any decisions or actions taken on these outcomes to Russian citizens. I would, however, kindly tell Victoria Nuland and her ilk to fuck off with their senile Cold War fantasies, morally bankrupt, third-rate Great Game machinations, and total spectrum dominance sociopathy.

"Personally, I don't believe that Ukraine is governed by fascists, or that Ukraine shot down that jetliner, but I'm sure a lot of Russians do."

There's definitely some of 'em hanging about, but yeah it mostly seems to be a motley assortment of oligarchs, gangsters, and grifters tied into international neoliberal capital and money flows. No doubt Russian believe a lot things. I find Americans tend to believe a lot things as well.

[Dec 02, 2019] The Vichy left – essentially people who are ready to sacrifice all principles to ensure their own prosperity

Notable quotes:
"... Pretty consistent, I agree. IMHO Sanjait might belong to the category that some people call the "Vichy left" – essentially people who are ready to sacrifice all principles to ensure their 'own' prosperity and support the candidate who intends to protect it, everybody else be damned. ..."
"... Very neoliberal approach if you ask me. Ann Rand would probably be proud for this representative of "creative class". ..."
"... Essentially the behavior that we've had for the last 8 years with the king of "bait and switch". ..."
Oct 24, 2016 | economistsview.typepad.com

Sanjait -> Sandwichman ... October 24, 2016 at 10:35 AM

Some paranoid claptrap to go along with your usual anti intellectualism.

Interestingly, with your completely unrelated non sequitur, you've actually illustrated something that does relate to Krugmans post. Namely that there are wingnuts among us. They've taken over the Republican Party, but the left has some too. Fortunately though the Democratic Party hasn't been taken over by them yet, and is still mostly run by grown ups.

Sandwichman -> Sanjait... , October 24, 2016 at 10:42 AM

I am confident that what you say here is consistent with your methods and motivations.
likbez -> Sandwichman ...
"I am confident that what you say here is consistent with your methods and motivations."

Pretty consistent, I agree. IMHO Sanjait might belong to the category that some people call the "Vichy left" – essentially people who are ready to sacrifice all principles to ensure their 'own' prosperity and support the candidate who intends to protect it, everybody else be damned.

Very neoliberal approach if you ask me. Ann Rand would probably be proud for this representative of "creative class".

Essentially the behavior that we've had for the last 8 years with the king of "bait and switch".

[Dec 02, 2019] The Fake Myth of American Meritocracy by Barbara Boland

Highly recommended!
Notable quotes:
"... As part of the scam, parents would "donate" money to a fake charity run by Singer. The funds would then be laundered to either pay off an SAT or ACT administrator to take the exams or bribe an employee in college athletics to name the rich, non-athlete children as recruits. Virtually every scenario relied on multiple layers of corruption, all of which eventually allowed wealthy students to masquerade as "deserving" of the merit-based college slots they paid up to half a million dollars to "qualify" for. ..."
"... When a majority of citizens disagrees with economic elites and/or with organised interests, they generally lose. Moreover, because of the strong status quo bias built into the US political system, even when fairly large majorities of Americans favor policy change, they generally do not get it. ..."
"... The conclusion of the study? We live in an oligarchy: ..."
Mar 15, 2019 | www.theamericanconservative.com

The college bribery scandal reveals an ugly truth: our society is unjust, dominated by a small elite. Actress Lori Loughlin, who has been implicated in the Operation Varsity Blues scandal. Credit: Featureflash Photo Agency/Shutterstock The most destructive and pervasive myth in America today is that we live in a meritocracy. Our elites, so the myth goes, earned their places at Yale and Harvard, on Wall Street and in Washington -- not because of the accident of their birth, but because they are better, stronger, and smarter than the rest of us. Therefore, they think, they've "earned" their places in the halls of power and "deserve" to lead.

The fervor with which so many believe this enables elites to lord over those worse off than they are. On we slumber, believing that we live in a country that values justice, instead of working towards a more equitable and authentically meritocratic society.

Take the Operation Varsity Blues scandal. On Tuesday, the FBI and federal prosecutors announced that 50 people had been charged in, as Sports Illustrated put it , "a nationwide college admissions scheme that used bribes to help potential students cheat on college entrance exams or to pose as potential athletic recruits to get admitted to high-profile universities." Thirty-three parents, nine collegiate coaches, two SAT/ACT exam administrators, an exam proctor, and a college athletics administrator were among those charged. The man who allegedly ran the scheme, William Rick Singer, pled guilty to four charges of racketeering conspiracy, money laundering conspiracy, conspiracy to defraud the U.S., and obstruction of justice.

As part of the scam, parents would "donate" money to a fake charity run by Singer. The funds would then be laundered to either pay off an SAT or ACT administrator to take the exams or bribe an employee in college athletics to name the rich, non-athlete children as recruits. Virtually every scenario relied on multiple layers of corruption, all of which eventually allowed wealthy students to masquerade as "deserving" of the merit-based college slots they paid up to half a million dollars to "qualify" for.

Cheating. Bribery. Lying. The wealthy and privileged buying what was reserved for the deserving. It's all there on vivid display. Modern American society has become increasingly and banally corrupt , both in the ways in which "justice" is meted out and in who is allowed to access elite education and the power that comes with it.

The U.S. is now a country where corruption is rampant and money buys both access and outcomes. We pretend to be better than Russia and other oligarchies, but we too are dominated by a rich and powerful elite.

The average American citizen has very little power, as a 2014 study by Princeton University found. The research reviewed 1,779 public policy questions asked between 1981 and 2002 and the responses by different income levels and interest groups; then calculated the likelihood that certain policies would be adopted.

What they found came as no surprise: How to Fix College Admissions

A proposed policy change with low support among economically elite Americans (one-out-of-five in favor) is adopted only about 18 percent of the time, while a proposed change with high support (four-out-of-five in favor) is adopted about 45% of the time.

That's in stark contrast with policies favored by average Americans:

When a majority of citizens disagrees with economic elites and/or with organised interests, they generally lose. Moreover, because of the strong status quo bias built into the US political system, even when fairly large majorities of Americans favor policy change, they generally do not get it.

The conclusion of the study? We live in an oligarchy:

our analyses suggest that majorities of the American public actually have little influence over the policies our government adopts. [T]he preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.

The belief in the myth of merit hurts the smart kid with great grades who aced his SATs but was still rejected from Yale and Harvard. It hurts talented athletes who have worked their tails off for so many years. It hurts parents who have committed hundreds of school nights and weekends to their children. It hurts HR departments that believe degrees from Ivy League schools mean that graduates are qualified. It hurts all of us who buy into the great myth that America is a democratic meritocracy and that we can achieve whatever we want if only we're willing to expend blood, toil, sweat, and tears.

At least in an outright class system like the British Houses of Lords and Commons, there is not this farcical playacting of equal opportunity. The elites, with their privilege and titles, know the reason they are there and feel some sense of obligation to those less well off than they are. At the very least, they do not engage in the ritual pretense of "deserving" what they "earned" -- quite unlike those who descend on Washington, D.C. believing that they really are better than their compatriots in flyover country.

All societies engage in myth-making about themselves. But the myth of meritocracy may be our most pervasive and destructive belief -- and it mirrors the myth that anything like "justice" is served up in our courts.

Remember the Dupont heir who received no prison time after being convicted for raping his three-year-old daughter because the judge ruled that six-foot-four Robert Richards "wouldn't fare well in prison"? Or the more recent case of billionaire Jeffrey Epstein, who had connections to both Hillary Clinton and Donald Trump and faced a 53-page federal indictment for sex-trafficking over two dozens underage girls ? He received instead a sweetheart deal that concealed the extent of his crimes. Rather than the federal life imprisonment term he was facing, Epstein is currently on house arrest after receiving only 13 months in county jail. The lead prosecutor in that case had previously been reprimanded by a federal judge in another underage sex crimes case for concealing victim information, the Miami Herald reports .

While the rich are able to escape consequences for even the most horrific of crimes , the U.S. has the highest incarceration rate in the world. Approximately 7 million people were under some form of correctional control by the end of 2011, including 2.2 million who were detained in federal, state, and local prisons and jails. One in every 10 black men in his thirties is in prison or jail, and one out of three black men born in 2001 can expect to go to prison in their lifetimes.

While black people make up only 13 percent of the population, they make up 42 percent of death row and 35 percent of those who are executed . There are big racial disparities in charging, sentencing, plea bargaining, and executions, Department of Justice reviews have concluded, and black and brown people are disproportionately found to be innocent after landing on death row. The poor and disadvantaged thereby become grist for a system that cares nothing for them.

Despite all this evidence, most Americans embrace a version of the Calvinist beliefs promulgated by their forebears, believing that the elect deserve their status. We remain confident that when our children apply to college or are questioned by police , they will receive just and fair outcomes. If our neighbors' and friends' kids do not, then we assure ourselves that it is they who are at fault, not the system.

The result has been a gaping chasm through our society. Lives are destroyed because, rather than working for real merit-based systems and justice, we worship at the altar of false promises offered by our institutions. Instead we should be rolling up our sleeves and seeing Operation Varsity Blues for what it is: a call to action.

Barbara Boland is the former weekend editor of the Washington Examiner . Her work has been featured on Fox News, the Drudge Report, HotAir.com, RealClearDefense, RealClearPolitics, and elsewhere. She's the author of Patton Uncovered , a book about General Patton in World War II. Follow her on Twitter @BBatDC .

MORE FROM THIS AUTHOR

The GOP's Laughable Call for a Balanced Budget Amendment Congress's "One Spending Bill to Rule Them All" is a Debt-Fueled Disgrace Hide 11 comments 11 Responses to The Myth of American Meritocracy

Collin March 15, 2019 at 1:46 pm

If conservatives are going to dance the graves of Aunt Beckie, the backlash is going to be big. Sure this is a 'scandal' but it seems these parents weren't rich enough to bribe their kids in college the right way, like Trumps and Kushner, and probably slightly duped into going along with this scheme. (It appears the government got the ring leader to call all defendants to get evidence they participated in a crime.)

Just wait until the mug shot of Aunt Beckie is on the internet and Olivia Jade does 60 minutes doing teary eyed interview of how much she loves her mother. And how many parents are stress that their kids will struggle in the global competitive economy.

Fran Macadam , , March 15, 2019 at 1:52 pm
I fully recall the days of getting government computing contracts. Once a certain threshold was reached, you discovered you had to hire a "lobbyist," and give him a significant amount of money to dole out to various gatekeepers in the bureaucracy for your contracts to be approved. That was the end of our government contracts, and the end was hastened by the reaction to trying to complain about it.
prodigalson , , March 15, 2019 at 1:56 pm
Great article, well done. More of this please TAC.
Kurt Gayle , , March 15, 2019 at 2:17 pm
Thank you, Barbara Boland, for "The Myth of American Meritocracy" and for linking ("Related Articles" box) to the 2012 "The Myth of American Meritocracy" by Ron Unz, then publisher of the American Conservative.

The 26,000-word Ron Unz research masterpiece was the opening salvo in the nation-wide discussion that ultimately led to the federal court case nearing resolution in Boston.

"The Myth of American Meritocracy -- How corrupt are Ivy League admissions?" by Ron Unz, The American Conservative, Nov 28, 2012:

https://www.theamericanconservative.com/articles/the-myth-of-american-meritocracy/

Kurt Gayle , , March 15, 2019 at 2:18 pm
Barbara Boland "While black people make up only 13 percent of the population, they make up 42 percent of death row and 35 percent of those who are executed."

Ms. Boland: According to the US Department of Justice, African Americans [13 per cent of the population] accounted for 52.5% of all homicide offenders from 1980 to 2008.

JeffK , , March 15, 2019 at 2:46 pm
I agree with prodigalson. This is the type of article that TAC should uphold as a 'gold standard'. One reason I read, and comment on, TAC is that it offers thought provoking, and sometimes contrarian, articles (although the constant harping on transgender BS gets annoying).

America has always been somewhat corrupt. But, to borrow a phrase, wealth corrupts, and uber wealth corrupts absolutely.

As Warren Buffet says "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning".

I have said it before, and I will say it again. During the next severe financial recession, if the rich are protected and coddled and everybody else is left to fend for themselves the ARs will come out of the closets when the sheriff comes to take the house or the pickup truck. My sense is that average Americans have had enough.

Imagine if the digital transfer of money was abolished. Imagine if everybody had to have their money in a local bank instead of on an account in one of the major banks. Imagine if Americans saw, day after day, armored vehicles showing up at local banks to offload sacks of currency that went to only a few individual accounts.

Instead, the elites get their financial statements showing an ever increasing pile of cash at their disposal. They see it, but nobody else does. But, if everybody physically saw the river of wealth flowing to the elites, I believe things would change. Fast. Right now this transfer of wealth is all digital, hidden from the view of 99.99% of Americans. And the elites, the banking industry, and the wealth management cabal prefer it that way.

Mike N in MA , , March 15, 2019 at 2:49 pm
You said it sister. Great article.

I am amazed by the media coverage of this scandal. Was anyone actually under the impression that college admissions were on the level before these Hollywood bozos were caught red handed?

BDavi52 , , March 15, 2019 at 2:49 pm
What total silliness!

No, the meritocracy is not dead; it's not even dying. It is, in fact, alive and well and the absolute best alternative to any other method used to separate wheat from chaff, cream from milk, diamonds from rust.

What else is there that is even half as good?

Are merit-based systems perfect? Heck, no. They've never been perfect; they will never be perfect. They are administered by people and people are flawed. Not just flawed in the way Singer, and Huffman are flawed (and those individuals are not simply flawed, they're corrupt) but flawed in the everyday kind of sense. Yes, we all have tendencies, biases, preferences that will -- inevitably -- leak into our selection process, no matter how objectively strict the process may be structured, no matter how rigorously fair we try to be.

So the fact that -- as with most things -- we can find a trace of corruption here that fact is meaningless. We can find evidence of human corruption, venality, greed, sloth, lust, envy (all of the 7 Deadly Sins) pretty much everywhere. But if we look at the 20M students enrolled in college, the vast majority are successfully & fairly admitted through merit-based filtering systems (which are more or less rigorous) which have been in place forever.

Ms. Boland tells us (with a straight face, no less) that "The U.S. is now a country where corruption is rampant and money buys both access and outcomes." But what does that even mean?

Certainly money can buy access and certainly money can buy outcomes. But that's what money does. She might as well assert that money can buy goods and services, and lions and tigers and bears -- oh my! Of course it can. Equally networks can 'buy' access and outcomes (if my best friend is working as the manager for Adele, I'm betting he could probably arrange my meeting Adele). Equally success & fame can buy access and outcomes. I'm betting Adele can probably arrange a meeting with Gwen Stefani .and both can arrange a meeting with Tom Brady. So what? Does the fact that money can be used to purchase goods & services mean money or the use of money is corrupt or morally degenerate? No, of course not. In truth, we all leverage what we have (whatever that may be) to get what we want. That's how life works. But the fact that we all do that does not mean we are all corrupt.

But yes, corruption does exist and can usually be found, in trace amounts -- as I said -- pretty much everywhere.

So is it rampant? Can I buy my way into the NBA or the NFL? If I go to Clark Hunt and give him $20M and tell him I want to play QB for the Chiefs, will he let me? Can I buy my way into the CEO's position at General Electric, Apple, Microsoft, Google, Sprint, Verizon, General Motors, Toyota or any of the Fortune 500? Heck, can I even buy my way into the Governor's mansion? To become the Mayor of Chicago? Or the Police Commissioner? No -- these things are not possible. But what I can buy is my presence on the media stage.

What happens after cannot be purchased.

So no, by any measure, corruption is not rampant. And though many things are, in fact, for sale -- not everything is. And no matter how much money I give anyone, I'm never gonna QB the Chiefs or play for the Lakers.

She tells us, "we are dominated by a rich and powerful elite." No, we're not. Most of us live our lives making the choices we want to make, given the means that each of us has, without any interference from any so-called "elite". The "elite" didn't tell me where to go to school, or where to get a job, or how to do my job, or when to have kids, or what loaf of bread to buy, or what brand of beer tastes best, or where to go on the family vacation. No one did. The elite obviously did not tell us who to vote for in the last presidential election.

Of course one of the problems with the "it's the fault of the elite" is the weight given institutions by people like Ms.Boland. "Oh, lordy, the Elite used their dominating power to get a brainless twit of a daughter into USC". Now if my kid were cheated out of a position at USC because the Twit got in, I'd be upset but beyond that who really cares if a Twit gets an undergraduate degree from USC or Yale .or Harvard .or wherever. Some of the brightest people I've known earned their degrees at Easter PolyTechnic U (some don't even have college degrees -- oh, the horror!); some of the stupidest have Ivy League credentials. So what?

Only if you care about the exclusivity of such a relatively meaningless thing as a degree from USC, does gaming the exclusivity matter.

She ends with the exhortation: "The result has been a gaping chasm through our society. Lives are destroyed because, rather than working for real merit-based systems and justice, we worship at the altar of false promises offered by our institutions. Instead we should be rolling up our sleeves and seeing Operation Varsity Blues for what it is: a call to action."

To do what, exactly?

Toss the baby and the bathwater? Substitute lottery selection for merit? Flip a coin? What?
Again the very best method is and always will be merit-based. That is the incentive which drives all of us: the hope that if we work hard enough and do well enough, that we will succeed. Anything else is just a lie.

Yes, we can root out this piece of corruption. Yes, we can build better and more rigorously fair systems. But in the end, merit is the only game in town. Far better to roll-up our sleeves and simply buckle down, Winsocki. There isn't anything better.

Sid Finster , , March 15, 2019 at 2:52 pm
Gee, and people wonder why the rubes think that the system is gamed, why the dogs no longer want to eat the dog food.
Jim Jatras , , March 15, 2019 at 3:22 pm
"While black people make up only 13 percent of the population, they make up 42 percent of death row and 35 percent of those who are executed. There are big racial disparities in charging, sentencing, plea bargaining, and executions, Department of Justice reviews have concluded, and black and brown people are disproportionately found to be innocent after landing on death row. The poor and disadvantaged thereby become grist for a system that cares nothing for them."

So to what degree are these "disparities" "disproportionate" in light of actual criminal behavior? To be "proportionate," would we expect criminal behavior to correlate exactly to racial, ethnic, sex, and age demographics of society as a whole?

Put another way, if you are a victim of a violent crime in America, what are the odds your assailant is, say, an elderly, Asian female? Approximately zero.

Conversely, what are the odds your assailant is a young, black male? Rather high, and if you yourself are a young, black male, approaching 100 percent.

Pam , , March 15, 2019 at 3:42 pm

Mostly thumbs up to this article. But why you gotta pick on Calvinism at the end? Anyway, your understanding of Calvinism is entirely upside down. Calvinists believe they are elect by divine grace, and salvation is something given by God through Jesus, which means you can't earn it and you most assuredly don't deserve it. Calvinism also teaches that all people are made in the image of God and worthy of respect, regardless of class or status. There's no "version" of Calvinism that teaches what you claim.

[Dec 01, 2019] Neoliberalism Tells Us We're Selfish Souls How Can We Promote Other Identities by Christine Berry,

Highly recommended!
Notable quotes:
"... As the Gramscian theorists Chantal Mouffe and Ernesto Laclau observed, our political identities are not a 'given' – something that emerges directly from the objective facts of our situation. We all occupy a series of overlapping identities in our day-to-day lives – as workers or bosses, renters or home-owners, debtors or creditors. Which of these define our politics depends on political struggles for meaning and power. ..."
"... The architects of neoliberalism understood this process of identity creation. By treating people as selfish, rational utility maximisers, they actively encouraged them to become selfish, rational utility maximisers. As the opening article points out, this is not a side effect of neoliberal policy, but a central part of its intention. As Michael Sandel pointed out in his 2012 book 'What Money Can't Buy: The Moral Limits of Markets' , it squeezes out competing values that previously governed non-market spheres of life, such as ethics of public service in the public sector, or mutual care within local communities. But these values remain latent: neoliberalism does not have the power to erase them completely. This is where the hope for the left lies, the crack of light through the doorway that needs to be prised open. ..."
"... More generally, there is some evidence that neoliberalism didn't really succeed in making us see ourselves as selfish rational maximisers – just in making us believe that everybody else was . For example, a 2016 survey found that UK citizens are on average more oriented towards compassionate values than selfish values, but that they perceive others to be significantly more selfish (both than themselves and the actual UK average). Strikingly, those with a high 'self-society gap' were found to be less likely to vote and engage in civic activity, and highly likely to experience feelings of cultural estrangement. ..."
"... Perhaps a rational system is one that accepts selfishness but keeps it within limits. Movements like the Chicago school that pretend to reinvent the wheel with new thinking are by this view a scam. As J.K. Galbraith said: "the problem with their ideas is that they have been tried." ..."
"... They tried running an economy on debt in the 1920s. The 1920s roared with debt based consumption and speculation until it all tipped over into the debt deflation of the Great Depression. No one realised the problems that were building up in the economy as they used an economics that doesn't look at private debt, neoclassical economics. ..."
"... Keynes looked at the problems of the debt based economy and came up with redistribution through taxation to keep the system running in a sustainable way and he dealt with the inherent inequality capitalism produced. ..."
"... Neoliberalism, which has influenced so much of the conventional thinking about money, is adamant that the public sector must not create ('print') money, and so public expenditure must be limited to what the market can 'afford.' Money, in this view, is a limited resource that the market ensures will be used efficiently. Is public money, then, a pipe dream? No, for the financial crisis and the response to it undermined this neoliberal dogma. ..."
"... The financial sector mismanaged its role as a source of money so badly that the state had to step in and provide unlimited monetary backing to rescue it. The creation of money out of thin air by public authorities revealed the inherently political nature of money. But why, then, was the power to create money ceded to the private sector in the first place -- and with so little public accountability? ..."
Nov 01, 2019 | www.nakedcapitalism.com

Lambert here: Not sure the soul is an identity, but authors don't write the headlines. Read on!

By Christine Berry, a freelance researcher and writer and was previously Director of Policy and Government for the New Economics Foundation. She has also worked at ShareAction and in the House of Commons. Originally published at Open Democracy .

"Economics is the method: the object is to change the soul." Understanding why Thatcher said this is central to understanding the neoliberal project, and how we might move beyond it. Carys Hughes and Jim Cranshaw's opening article poses a crucial challenge to the left in this respect. It is too easy to tell ourselves a story about the long reign of neoliberalism that is peopled solely with all-powerful elites imposing their will on the oppressed masses. It is much harder to confront seriously the ways in which neoliberalism has manufactured popular consent for its policies.

The left needs to acknowledge that aspects of the neoliberal agenda have been overwhelmingly popular: it has successfully tapped into people's instincts about the kind of life they want to lead, and wrapped these instincts up in a compelling narrative about how we should see ourselves and other people. We need a coherent strategy for replacing this narrative with one that actively reconstructs our collective self-image – turning us into empowered citizens participating in communities of mutual care, rather than selfish property-owning individuals competing in markets.

As the Gramscian theorists Chantal Mouffe and Ernesto Laclau observed, our political identities are not a 'given' – something that emerges directly from the objective facts of our situation. We all occupy a series of overlapping identities in our day-to-day lives – as workers or bosses, renters or home-owners, debtors or creditors. Which of these define our politics depends on political struggles for meaning and power.

Part of the job of politics – whether within political parties or social movements – is to show how our individual problems are rooted in systemic issues that can be confronted collectively if we organise around these identities. Thus, debt becomes not a source of shame but an injustice that debtors can organise against. Struggles with childcare are not a source of individual parental guilt but a shared societal problem that we have a shared responsibility to tackle. Podemos were deeply influenced by this thinking when they sought to redefine Spanish politics as 'La Casta' ('the elite') versus the people, cutting across many of the traditional boundaries between right and left.

The architects of neoliberalism understood this process of identity creation. By treating people as selfish, rational utility maximisers, they actively encouraged them to become selfish, rational utility maximisers. As the opening article points out, this is not a side effect of neoliberal policy, but a central part of its intention. As Michael Sandel pointed out in his 2012 book 'What Money Can't Buy: The Moral Limits of Markets' , it squeezes out competing values that previously governed non-market spheres of life, such as ethics of public service in the public sector, or mutual care within local communities. But these values remain latent: neoliberalism does not have the power to erase them completely. This is where the hope for the left lies, the crack of light through the doorway that needs to be prised open.

The Limits of Neoliberal Consciousness

In thinking about how we do this, it's instructive to look at the ways in which neoliberal attempts to reshape our identities have succeeded – and the ways they have failed. While Right to Buy might have been successful in identifying people as home-owners and stigmatising social housing, this has not bled through into wider support for private ownership. Although public ownership did become taboo among the political classes for a generation – far outside the political 'common sense' – polls consistently showed that this was not matched by a fall in public support for the idea. On some level – perhaps because of the poor performance of privatised entities – people continued to identify as citizens with a right to public services, rather than as consumers of privatised services. The continued overwhelming attachment to a public NHS is the epitome of this tendency. This is partly what made it possible for Corbyn's Labour to rehabilitate the concept of public ownership, as the 2017 Labour manifesto's proposals for public ownership of railways and water – dismissed as ludicrous by the political establishment – proved overwhelmingly popular.

More generally, there is some evidence that neoliberalism didn't really succeed in making us see ourselves as selfish rational maximisers – just in making us believe that everybody else was . For example, a 2016 survey found that UK citizens are on average more oriented towards compassionate values than selfish values, but that they perceive others to be significantly more selfish (both than themselves and the actual UK average). Strikingly, those with a high 'self-society gap' were found to be less likely to vote and engage in civic activity, and highly likely to experience feelings of cultural estrangement.

This finding points towards both the great conjuring trick of neoliberal subjectivity and its Achilles heel: it has successfully popularised an idea of what human beings are like that most of us don't actually identify with ourselves. This research suggests that our political crisis is caused not only by people's material conditions of disempowerment, but by four decades of being told that we can't trust our fellow citizens. But it also suggests that deep down, we know this pessimistic account of human nature just isn't who we really are – or who we aspire to be.

An example of how this plays out can be seen in academic studies showing that, in game scenarios presenting the opportunity to free-ride on the efforts of others, only economics students behaved as economic models predicted: all other groups were much more likely to pool their resources. Having been trained to believe that others are likely to be selfish, economists believe that their best course of action is to be selfish as well. The rest of us still have the instinct to cooperate. Perhaps this shouldn't be surprising: after all, as George Monbiot argues in 'Out of the Wreckage' , cooperation is our species' main survival strategy.

What's Our 'Right to Buy?'

The challenge for the left is to find policies and stories that tap into this latent sense of what makes us human – what Gramsci called 'good sense' – and use it to overturn the neoliberal 'common sense'. In doing so, we must be aware that we are competing not only with a neoliberal identity but also with a new far-right that seeks to promote a white British ethno-nationalist group identity, conflating 'elites' with outsiders. How we compete with this is the million dollar question, and it's one we have not yet answered.

Thatcher's use of flagship policies like the Right to Buy was a masterclass in this respect. Deceptively simple, tangible and easy to grasp, the Right to Buy also communicated a much deeper story about the kind of nation we wanted to be – one of private, property-owning individuals – cementing home-ownership as a cultural symbol of aspiration (the right to paint your own front door) whilst giving millions an immediate financial stake in her new order. So what might be the equivalent flagship policies for the left today?

Perhaps one of the strongest efforts to date has been the proposal for ' Inclusive Ownership Funds ', first developed by Mathew Lawrence in a report for the New Economics Foundation, and announced as Labour policy by John McDonnell in 2018. This would require companies to transfer shares into a fund giving their workers a collective stake that rises over time and pays out employee dividends. Like the Right to Buy, as well as shifting the material distribution of wealth and power, this aims to build our identity as part of a community of workers taking more collective control over our working lives.

But this idea only takes us so far. While it may tap into people's desire for more security and empowerment at work, more of a stake in what they do, it offers a fairly abstract benefit that only cashes out over time, as workers acquire enough of a stake to have a meaningful say over company strategy. It may not mean much to those at the sharpest end of our oppressive and precarious labour market, at least not unless we also tackle the more pressing concerns they face – such as the exploitative practices of behemoths like Amazon or the stress caused by zero-hours contracts. We have not yet hit on an idea that can compete with the transformative change to people's lives offered by the Right to Buy.

So what else is on the table? Perhaps, when it comes to the cutting edge of new left thinking on these issues, the workplace isn't really where the action is – at least not directly. Perhaps we need to be tapping into people's desire to escape the 'rat race' altogether and have more freedom to pursue the things that really make us happy – time with our families, access to nature, the space to look after ourselves, connection with our communities. The four day working week (crucially with no loss of pay) has real potential as a flagship policy in this respect. The Conservatives and the right-wing press may be laughing it down with jokes about Labour being lazy and feckless, but perhaps this is because they are rattled. Ultimately, they can't escape the fact that most people would like to spend less time at work.

Skilfully communicated, this has the potential to be a profoundly anti-neoliberal policy that conveys a new story about what we aspire to, individually and as a society. Where neoliberalism tapped into people's desire for more personal freedom and hooked this to the acquisition of wealth, property and consumer choice, we can refocus on the freedom to live the lives we truly want. Instead of offering freedom through the market, we can offer freedom from the market.

Proponents of Universal Basic Income often argue that it fulfils a similar function of liberating people from work and detaching our ability to provide for ourselves from the marketplace for labour. But in material terms, it's unlikely that a UBI could be set at a level that would genuinely offer people this freedom, at least in the short term. And in narrative terms, UBI is actually a highly malleable policy that is equally susceptible to being co-opted by a libertarian agenda. Even at its best, it is really a policy about redistribution of already existing wealth (albeit on a bigger scale than the welfare state as it stands). To truly overturn neoliberalism, we need to go beyond this and talk about collective ownership and creation of wealth.

Policies that focus on collective control of assets may do a better job of replacing a narrative about individual property ownership with one that highlights the actual concentration of property wealth in the hands of elites – and the need to reclaim these assets for the common good. As well as Inclusive Ownership Funds, another way of doing this is through Citizens' Wealth Funds, which socialise profitable assets (be it natural resources or intangible ones such as data) and use the proceeds to pay dividends to individuals or communities. Universal Basic Services – for instance, policies such as free publicly owned buses – may be another.

Finally, I'd like to make a plea for care work as a critical area that merits further attention to develop convincing flagship policies – be it on universal childcare, elderly care or support for unpaid carers. The instinctive attachment that many of us feel to a public NHS needs to be widened to promote a broader right to care and be cared for, whilst firmly resisting the marketisation of care. Although care is often marginalised in political debate, as a new mum, I'm acutely aware that it is fundamental to millions of people's ability to live the lives they want. In an ageing population, most people now have lived experience of the pressures of caring for someone – whether a parent or a child. By talking about these issues, we move the terrain of political contestation away from the work valued by the market and onto the work we all know really matters; away from the competition for scarce resources and onto our ability to look after each other. And surely, that's exactly where the left wants it to be.

This article forms part of the " Left governmentality" mini series for openDemocracy.

Carolinian , November 1, 2019 at 12:36 pm

The problem is that people are selfish–me included–and so what is needed is not better ideas about ourselves but better laws. And for that we will need a higher level of political engagement and a refusal to accept candidates who sell themselves as a "lesser evil." It's the decline of democracy that brought on the rise of Reagan and Thatcher and Neoliberalism and not some change in public consciousness (except insofar as the general public became wealthier and more complacent). In America incumbents are almost universally likely to be re-elected to Congress and so they have no reason to reject Neoliberal ideas.

So here's suggesting that a functioning political process is the key to reform and not some change in the PR.

Angie Neer , November 1, 2019 at 12:42 pm

Carolinian, like you, I try to include myself in statements about "the problem with people." I believe one of the things preventing progress is our tendency to believe it's only those people that are the problem.

MyLessThanPrimeBeef , November 1, 2019 at 4:55 pm

Human nature people are selfish. It's like the Christian marriage vow – which I understand is a Medieval invention and not something from 2,000 years ago – for better or worse, meaning, we share (and are not to be selfish) the good and the bad.

"Not neoliberals, but all of us." "Not the right, but the left as well." "Not just Russia, but America," or "Not just America, but Russia too."

Carolinian , November 1, 2019 at 5:54 pm

Perhaps a rational system is one that accepts selfishness but keeps it within limits. Movements like the Chicago school that pretend to reinvent the wheel with new thinking are by this view a scam. As J.K. Galbraith said: "the problem with their ideas is that they have been tried."

The Rev Kev , November 1, 2019 at 8:06 pm

My small brain got stuck on your reference to a 'Christian marriage vow'. I was just sitting back and conceiving what a Neoliberal marriage vow would sound like. Probably a cross between a no-liabilities contract and an open-marriage agreement.

Carey , November 1, 2019 at 9:05 pm

"people are selfish"?; or "people can sometimes act selfishly"? I think the latter is the more accurate statement. Appeal to the better side, and more of it will be forthcoming.
Neolib propaganda appeals to trivial, bleak individualism..

Carolinian , November 2, 2019 at 9:14 am

I'm not sure historic left attempts to appeal to "the better angels of our nature" have really moved the ball much. It took the Great Depression to give us a New Deal and WW2 to give Britain the NHS and the India its freedom. I'd say events are in the saddle far more than ideas.

Mark Anderlik , November 2, 2019 at 10:58 am

I rather look at it as a "both and" rather than an "either or." If the political groundwork is not done beforehand and during, the opportunity events afford will more likely be squandered.

And borrowing from evolutionary science, this also holds with the "punctuated equilibrium" theory of social/political change. The strain of a changed environment (caused by both events and intentionally created political activity) for a long time creates no visible change to the system, and so appears to fail. But then some combination of events and conscious political work suddenly "punctuates the equilibrium" with the resulting significant if not radical changes.

Chile today can be seen as a great example of this: "Its not 30 Pesos, its 30 Years."

J4Zonian , November 2, 2019 at 4:40 pm

Carolinian, you provide a good illustration of the power of the dominant paradigm to make people believe exactly what the article said–something I've observed more than enough to confirm is true. People act in a wide variety of ways; but many people deny that altruism and compassion are equally "human nature". Both parts of the belief pointed out here–believing other people are selfish and that we're not–are explained by projection acting in concert with the other parts of this phenomenon. Even though it's flawed because it's only a political and not a psychological explanation, It's a good start toward understanding.

"You and I are so deeply acculturated to the idea of "self" and organization and species that it is hard to believe that man [sic] might view his [sic] relations with the environment in any other way than the way which I have rather unfairly blamed upon the nineteenth-century evolutionists."

Gregory Bateson, Steps to an Ecology of Mind, p 483-4
This is part of a longer quote that's been important to me my whole life. Worth looking up. Bateson called this a mistake in epistemology–also, informally, his definition of evil.
http://anomalogue.com/blog/category/systems-thinking/

"When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."
― Frédéric Bastiat

Doesn't mean it's genetic. In fact, I'm pretty sure it means it's not.

Capital fn 4 , November 1, 2019 at 1:11 pm

The desire for justice is the constant.

The Iron Lady once proclaimed, slightly sinisterly: "Economics is the method. The object is to change the soul." She meant that British people had to rediscover the virtue of traditional values such as hard work and thrift. The "something for nothing" society was over.

But the idea that the Thatcher era re-established the link between virtuous effort and just reward has been effectively destroyed by the spectacle of bankers driving their institutions into bankruptcy while being rewarded with million-pound bonuses and munificent pensions.

The dual-truth approach of the Neoliberal Thought Collective (thanks, Mirowski) has been more adept at manipulating narratives so the masses are still outraged by individuals getting undeserved social benefits rather than elites vacuuming up common resources. Thanks to the Thatcher-Reagan revolution, we have ended up with socialism for the rich, and everyone else at the mercy of 'markets'.

Pretending that there are not problems with free riders is naive and it goes against people's concern with justice. Acknowledging free riders on all levels with institutions that can constantly pursue equity is the solution.

Anarcissie , November 2, 2019 at 10:09 am

At some points in life, everyone is a free rider. As for the hard workers, many of them are doing destructive things which the less hard-working people will have to suffer under and compensate for. (Neo)liberalism and capitalism are a coherent system of illusions of virtue which rest on domination, exploitation, extraction, and propaganda. Stoking of resentment (as of free riders, the poor, the losers, foreigners, and so on) is one of the ways those who enjoy it keep it going.

Capital fn. 4 , November 1, 2019 at 1:16 pm

The desire for justice is the constant.

The Iron Lady once proclaimed, slightly sinisterly: "Economics is the method. The object is to change the soul." She meant that British people had to rediscover the virtue of traditional values such as hard work and thrift. The "something for nothing" society was over.

But the idea that the Thatcher era re-established the link between virtuous effort and just reward has been effectively destroyed by the spectacle of bankers driving their institutions into bankruptcy while being rewarded with million-pound bonuses and munificent pensions.

The dual-truth approach of the Neoliberal Thought Collective (thanks, Mirowski) has been more adept at manipulating narratives so the masses are still outraged by individuals getting undeserved social benefits rather than elites vacuuming up common resources. Thanks to the Thatcher-Reagan revolution, we have ended up with socialism for the rich, and everyone else at the mercy of 'markets'.

Pretending that there are not problems with free riders is naive and it goes against people's concern with justice. Acknowledging free riders on all levels with institutions that can constantly pursue equity is the solution.

Synoia , November 2, 2019 at 12:58 pm

The Iron Lady had a agenda to break the labor movement in the UK.

What she did not understand is Management gets the Union (Behavior) it deserves. If there is strife in the workplace, as there was in abundance in the UK at that time, the problem is the Management, (and the UK class structure) not the workers.

As I found out when I left University.

Thatcher set out to break the solidarity of the Labor movement, and used the neo-liberal tool of selfishness to achieve success, unfortunately,

The UK's poor management practices, (The Working Class can kiss my arse) and complete inability to form teams of "Management and Workers" was, IMHO, is the foundation of today's Brexit nightmare, a foundation based on the British Class Structure.

And exploited, as it ever was, to achieve ends which do not benefit workers in any manner.

The Historian , November 1, 2019 at 1:43 pm

The left needs to acknowledge that aspects of the neoliberal agenda have been overwhelmingly popular: it has successfully tapped into people's instincts about the kind of life they want to lead, and wrapped these instincts up in a compelling narrative about how we should see ourselves and other people.

Sigh, no this is not true. This author is making the mistake that everyone is like the top 5% and that just is not so. Perhaps she should get out of her personal echo chamber and talk to common people.

In my travels I have been to every state and every major city, and I have worked with just about every class of people, except of course the ultra wealthy and ultra powerful – they have people to protect them from the great unwashed like me – and it didn't take me long to notice that the elite are different from the rest of us but I could never explain exactly why. After I retired, I started studying and I've examined everything from Adam Smith, to Hobbes, to Kant, to Durkheim, to Marx, to Ayn Rand, to tons of histories and anthropologies of various peoples, to you name it and I've come to the conclusion that most of us are not neoliberal and do not want what the top 5% want.

Most people are not overly competitive and most do not seek self-interest only. That is what allows us to live in cities, to drive on our roadways, to form groups that seek to improve conditions for the least of us. It is what allows soldiers to protect each other on the battlefield when it would be in their self interest to protect themselves. It is what allowed people in Europe to risk their own lives to save Jews. And it is also what allows people to live under the worst dictators without rebelling. Of course we all want more but we have limits on what we will do to get that more – the wealthy and powerful seem to have no limits. For instance, most of us won't screw over our co-workers to make ourselves look better, although some will. Most of us won't turn on our best friends even when it would be to our advantage to do so, although some will. Most of us won't abandon those we care about, even when it means severe financial damage to us, although some will.

For lack of a better description, I call what the 5% have the greed gene – a gene that allows them to give up empathy and compassion and basic morality – what some of us call fairness – in the search for personal gain. I don't think it is necessarily genetic but there is something in their makeup that cause them to have more than the average self interest. And because most humans are more cooperative than they are competitive, most humans just allow these people to go after what they want and don't stand in their way, even though by stopping them, they could make their own lives better.

Most history and economics are theories and stories told by the rich and powerful to justify their behavior. I think it is a big mistake to attribute that behavior to the mass of humanity. Archeology is beginning to look more at how average people lived instead of seeking out only the riches deposited by the elite, and historians are starting to look at the other side of history – average people – to see what life was really like for them, and I think we are seeing that what the rulers wanted was never what their people wanted. It is beginning to appear obvious that 95% of the people just wanted to live in their communities safely, to have about what everyone else around them had, and to enjoy the simple pleasures of shelter, enough food, and warm companionship.

I'm also wondering why the 5% think that all of us want exactly what they want. Do they really think that they are somehow being smarter or more competent got them there while 95% of the population – the rest of us – failed?

At this point, I know my theory is half-baked – I definitely need to do more research, but nothing I have found yet convinces me that there isn't some real basic difference between those who aspire to power and wealth and the rest of us.

Foy , November 1, 2019 at 5:09 pm

" ..and I've come to the conclusion that most of us are not neoliberal and do not want what the top 5% want. Most people are not overly competitive and most do not seek self-interest only. That is what allows us to live in cities, to drive on our roadways, to form groups that seek to improve conditions for the least of us. It is what allows soldiers to protect each other on the battlefield when it would be in their self interest to protect themselves. "

I really liked your comment Historian. Thanks for posting. That's what I've felt in my gut for a while, that the top 5% and the establishment are operating under a different mindset, that the majority of people don't want a competitive, dog eat dog, self interest world.

SKM , November 1, 2019 at 5:52 pm

me too, great observation and well put. Made me feel better too! Heartfelt thanks

Mo's Bike Shop , November 1, 2019 at 8:00 pm

I agree with Foy Johnson. I've been reading up on Ancient Greece and realizing all the time that 'teh Greeks' are maybe only about thirty percent of the people in Greece. Most of that history is how Greeks were taking advantage of each other with little mention of the majority of the population. Pelasgians? Yeah, they came from serpents teeth, the end.

I think this is a problem from the Bronze Age that we have not properly addressed.

Mystery Cycles are a nice reminder that people were having fun on their own.

Carey , November 1, 2019 at 5:15 pm

Thanks very much for this comment, Historian.

deplorado , November 1, 2019 at 5:22 pm

I have more or less the same view. I think the author's statement about neoliberalism tapping into what type of life people want to lead is untenable. Besides instinct (are we all 4-year olds?), what people want is also very much socially constructed. And what people do is also very much socially coerced.

One anecdote: years ago, during a volunteer drive at work, I worked side by side with the company's CEO (company was ~1200 headcount, ~.5bn revenue) sorting canned goods. The guy was doing it like he was in a competition. So much so that he often blocked me when I had to place something on the shelves, and took a lot of space in the lineup around himself while swinging his large-ish body and arms, and wouldn't stop talking. To me, this was very rude and inconsiderate, and showed a repulsive level of disregard to others. This kind of behavior at such an event, besides being unpleasant to be around, was likely also making work for the others in the lineup less efficient. Had I or anyone else behaved like him, we would have had a good amount of awkwardness or even a conflict.

What I don't get is, how does he and others get away with it? My guess is, people don't want a conflict. I didn't want a conflict and said nothing to that CEO. Not because I am not competitive, but because I didn't want an ugly social situation (we said 'excuse me' and 'sorry' enough, I just didn't think it would go over well to ask him to stop being obnoxious and dominant for no reason). He obviously didn't care or was unaware – or actually, I think he was behaving that way as a tactical habit. And I didn't feel I had the authority to impose a different order.

So, in the end, it's about power – power relations and knowing what to do about it.

Foy , November 1, 2019 at 7:43 pm

Yep, I think you've nailed it there deplorado, types like your CEO don't care at all and/or are socially unaware, and is a tactical habit that they have found has worked for them in the past and is now ingrained. It is a power relation and our current world unfortunately is now designed and made to suit people like that. And each day the world incrementally moves a little bit more in their direction with inertia like a glacier. Its going to take something big to turn it around

Jeremy Grimm , November 1, 2019 at 6:49 pm

I too believe "most of us are not neoliberal". But if so, how did we end up with the kind of Corporate Cartels, Government Agencies and Organizations that currently prey upon Humankind? This post greatly oversimplifies the mechanisms and dynamics of Neoliberalism, and other varieties of exploitation of the many by the few. This post risks a mocking tie to Identity Politics. What traits of Humankind give truth to Goebbels' claims?

There definitely is "some real basic difference between those who aspire to power and wealth and the rest of us" -- but the question you should ask next is why the rest of us Hobbits blindly follow and help the Saurons among us. Why do so many of us do exactly what we're told? How is it that constant repetition of the Neoliberal identity concepts over our media can so effectively ensnare the thinking of so many?

Foy , November 1, 2019 at 7:47 pm

Maybe it's something similar to Milgram's Experiment (the movie the Experimenter about Milgram was on last night – worth watching and good acting by Peter Sarsgaard, my kind of indie film), the outcome is just not what would normally be expected, people bow to authority, against their own beliefs and interests, and others interests, even though they have choice. The Hobbits followed blindly in that experiment, the exact opposite outcome as to what was predicted by the all the psychology experts beforehand.

Mo's Bike Shop , November 1, 2019 at 8:12 pm

people bow to authority , against their own beliefs and interests, and others interests, even though they have choice

'Don't Make Waves' is a fundamentally useful value that lets us all swim along. This can be manipulated. If everyone is worried about Reds Under the Beds or recycling, you go along to get along.

Some people somersault to Authority is how I'd put it.

Foy , November 1, 2019 at 11:17 pm

Yep, don't mind how you put that Mo, good word somersault.

One of the amusing tests Milgram did was to have people go into the lift but all face the back of the lift instead of the doors and see what happens when the next person got in. Sure enough, with the next person would get in, face the front, look around with some confusion at everyone else and then slowly turn and face the back. Don't Make Waves its instinctive to let us all swim along as you said.

And 'some people' is correct. It was actually the majority, 65%, who followed directions against their own will and preferred choice in his original experiment.

susan the Other , November 1, 2019 at 8:07 pm

thank you, historian

The Rev Kev , November 1, 2019 at 8:14 pm

That's a pretty damn good comment that, Historian. Lots to unpick. It reminded me too of something that John Wyndham once said. He wrote how about 95% of us wanted to live in peace and comfort but that the other 5% were always considering their chances if they started something. He went on to say that it was the introduction of nuclear weapons that made nobody's chances of looking good which explains why the lack of a new major war since WW2.

Mr grumpy , November 1, 2019 at 9:56 pm

Good comment. My view is that it all boils down to the sociopathic personality disorder. Sociopathy runs on a continuum, and we all exhibit some of its tendencies. At the highest end you get serial killers and titans of industry, like the guy sorting cans in another comment. I believe all religions and theories of ethical behavior began as attempts to reign in the sociopaths by those of us much lower on the continuum. Neoliberalism starts by saying the sociopaths are the norm, turning the usual moral and ethical universe upside down.

Janie , November 1, 2019 at 11:59 pm

Your theory is not half-baked; it's spot-on. If you're not the whatever it takes, end justifies the means type, you are not likely to rise to the top in the corporate world. The cream rises to the top happens only in the dairy.

Grebo , November 2, 2019 at 12:25 am

Your 5% would correspond to Altemeyer's "social dominators". Unfortunately only 75% want a simple, peaceful life. 20% are looking for a social dominator to follow. It's psychological.

Kristin Lee , November 2, 2019 at 5:21 am

Excellent comment. Take into consideration the probability that the majority of the top 5% have come from a privileged background, ensconced in a culture of entitlement. This "greed" gene is as natural to them as breathing. Consider also that many wealthy families have maintained their status through centuries of calculated loveless marriages, empathy and other human traits gene-pooled out of existence. The cruel paradox is that for the sake of riches, they have lost their richness in character.

Davenport , November 2, 2019 at 7:57 am

This really chimes with me. Thanks so much for putting it down in words.

I often encounter people insisting humans are selfish. It is quite frustrating that this more predominant side of our human nature seems to become invisible against the propaganda.

Henry Moon Pie , November 1, 2019 at 1:49 pm

I'm barely into Jeremy Lent's The Patterning Instinct: A Cultural History of Humanity's Search for Meaning , but he's already laid down his central thesis in fairly complete form. Humans are both competitive and cooperative, he says, which should surprise no one. What I found interesting is that the competitive side comes from primates who are more intensely competitive than humans. The cooperation developed after the human/primate split and was enabled by "mimetic culture," communication skills that importantly presuppose that the object(s) of communication are intentional creatures like oneself but with a somewhat different perspective. Example: Human #1 gestures to Human #2 to come take a closer look at whatever Human #1 is examining. This ability to cooperate even came with strategies to prevent a would-be dominant male from taking over a hunter-gatherer band:

[I]n virtually all hunter-gatherer societies, people join together to prevent powerful males from taking too much control, using collective behaviors such as ridicule, group disobedience, and, ultimately, extreme sanctions such as assassination [This kind of society is called] a "reverse dominant hierarchy because rather than being dominated, the rank and file manages to dominate.

SKM , November 1, 2019 at 6:02 pm

yes, this chimes in with what I`ve been thinking for years after puzzling about why society everywhere ends up as it does – ie the fact that in small groups as we evolved to live in, we would keep a check on extreme selfish behaviour of dominant individuals. In complex societies (modern) most of us become "the masses" visible in some way to the system but the top echelons are not visible to us and are able to amass power and wealth out of all control by the rest of us. And yes, you do have to have a very strange drive (relatively rare, ?pathological) to want power and wealth at everyone else`s expense – to live in a cruel world many of whose problems could be solved (or not arise in the first place) by redistributing some of your wealth to little palpable cost to you

Mo's Bike Shop , November 1, 2019 at 8:37 pm

Africa over a few million years of Ice Ages seems to have presented our ancestors with the possibility of reproducing only if you can get along in close proximity to other Hominids without killing each other. I find that a compelling explanation for our stupidly big brains; it's one thing to be a smart monkey, it's a whole different solution needed to model what is going on in the brain of another smart monkey.

And communications: How could spoken language have developed without levels of trust and interdependence that maybe we can not appreciate today? We have a word for 'Blue' nowadays, we take it for granted.

Anarcissie , November 2, 2019 at 10:18 am

There is a theory that language originated between mothers and their immediate progeny, between whom either trust and benevolence exist, or the weaker dies. The mother's chances for survival and reproduction are enhanced if she can get her progeny to, so to speak, help out around the house; how to do that is extended by symbolism and syntax as well as example.

chuck roast , November 1, 2019 at 2:00 pm

I recall the first day of Econ 102 when the Prof. (damned few adjuncts in those days) said, "Everything we discuss hereafter will be built on the concept of scarcity." Being a contrary buggah' I thought, "The air I'm breathing isn't scarce." I soon got with the program supply and demand upward sloping, downward sloping, horizontal, vertical and who could forget kinked. My personal favorite was the Giffen Good a high priced inferior product. Kind of like Micro Economics.

Maybe we could begin our new Neo-Economics 102 with the proviso, "Everything we discuss hereafter will be based on abundance." I'm gonna' like this class!

Off The Street , November 1, 2019 at 2:27 pm

Neo-lib Econ does a great job at framing issues so that people don't notice what is excluded. Think of them as proto-Dark Patternists.

If you are bored and slightly mischievous, ask an economist how theory addresses cooperation, then assume a can opener and crack open a twist-top beer.

jrs , November 1, 2019 at 3:11 pm

Isn't one of the problems that it's NOT really built on the concept of scarcity? Most natural resources run into scarcity eventually. I don't know about the air one breaths, certainly fish species are finding reduced oxygen in the oceans due to climate change.

shtove , November 2, 2019 at 3:45 am

Yes, I suppose people in cities in south-east Asia wearing soot-exclusion masks have a different take on the abundance of air.

Jeremy Grimm , November 1, 2019 at 6:57 pm

If you would like that class on abundance you would love the Church of Abundant Life which pushes Jesus as the way to Abundant Life and they mean that literally. Abundant as in Jesus wants you to have lots of stuff -- so believe.

I believe Neoliberalism is a much more complex animal than an economic theory. Mirowski builds a plausible argument that Neoliberalism is a theory of epistemology. The Market discovers Truth.

Mo's Bike Shop , November 1, 2019 at 8:53 pm

"The air I'm breathing isn't scarce."

Had a lovely Physics class where the first homework problem boiled down to "How often do you inhale a atom (O or N) from Julius Caesar's last breath". Great little introduction to the power and pratfalls of 'estimations by Physicists' that xkcd likes to poke at. Back then we used the CRC Handbook to figure it out.

Anyway, every second breath you can be sure you have shared an atom with Caesar.

Susan the Other , November 1, 2019 at 2:08 pm

I don't think Maggie T. or uncle Milty were thinking about the future at all. Neither one would have openly promoted turfing quadriplegic 70-year-olds out of the rest home. That's how short sighted they both were. And stupid. We really need to call a spade a spade here. Milty doesn't even qualify as an economist – unless economics is the study of the destruction of society. But neoliberalism had been in the wings already, by the 80s, for 40 years. Nobody took into account that utility-maximizing capitalism always kills the goose (except Lenin maybe) – because it's too expensive to feed her. The neoliberals were just plain dumb. The question really is why should we stand for another day of neoliberal nonsense? Albeit Macht Frei Light? No thanks. I think they've got the question backwards – it shouldn't be how should "we" reconstruct our image now – but what is the obligation of all the failed neoliberal extractors to right society now? I'd just as soon stand back and watch the dam burst as help the neolibs out with a little here and a little there. They'll just keep taking as long as we give. This isn't as annoying as Macron's "cake" comment, but it's close. I did like the last 2 paragraphs however.

Susan the Other , November 1, 2019 at 2:42 pm

Here's a sidebar. A universal one. There is an anomaly in the universe – there is not enough accumulated entropy. It screws up theoretical physics because the missing entropy needs to be accounted for for their theories to work to their satisfaction. It seems to be a phenomenon of evolution. Thus it was recently discovered by a physics grad student that entropy by heat dissipation is the "creator" of life. Life almost spontaneously erupts where it can take advantage of an energy source. And, we are assuming, life thereby slows entropy down. There has to be another similar process among the stars and the planets as well, an evolutionary conservation of energy. So evolution takes on more serious meaning. From the quantum to the infinite. And society – it's right in the middle. So it isn't too unreasonable to think that society is extremely adaptable, taking advantage of any energy input, and it seems true to think that. Which means that society can go long for its goal before it breaks down. But in the end it will be enervated by lack of "resources" unless it can self perpetuate in an evolving manner. That's one good reason to say goodbye to looney ideologies.

djrichard , November 1, 2019 at 3:05 pm

For a view of humanity that is not as selfish, recommend "The Gift" by Marcel Mauss. Basically an anthropological study of reciprocal gift giving in the oceanic potlatch societies. My take is that the idea was to re-visit relationships, as giving a gift basically forces a response in the receiver, "Am I going to respond in kind, perhaps even upping what is required? Or am I going to find that this relationship simply isn't worth it and walk away?"

Kind of like being in a marriage. The idea isn't to walk away, the idea is you constantly need to re-enforce it. Except with the potlatch it was like extending that concept to the clan at large, so that all the relationships within the clan were being re-enforced.

Amfortas the hippie , November 1, 2019 at 3:26 pm

"Kind of like being in a marriage. The idea isn't to walk away, the idea is you constantly need to re-enforce it. "
amen.
we, the people, abdicated.

as for humans being selfish by default i used to believe this, due to my own experiences as an outlaw and pariah.
until wife's cancer and the overwhelming response of this little town,in the "reddest" congressional district in texas.
locally, the most selfish people i know are the one's who own everything buying up their neighbor's businesses when things get tough.
they are also the most smug and pretentious(local dems, in their hillforts come a close second in this regard) and most likely to be gop true believers.
small town and all everybody literally knows everybody, and their extended family and those connections are intertwined beyond belief.
wife's related, in some way, to maybe half the town.
that matters and explains my experience as an outcast: i never belonged to anything like that and such fellowfeeling and support is hard for people to extend to a stranger.
That's what's gonna be the hard sell, here, in undoing the hyperindividualist, "there is no such thing as society" nonsense.

Mo's Bike Shop , November 1, 2019 at 9:23 pm

I grew up until Junior High in a fishing village on the Maine coast that had been around for well over a hundred years and had a population of under 1000. By the time I was 8 I realized there was no point in being extreme with anyone, because they were likely to be around for the rest of your life.

I fell in love with sun and warmth when we moved away and unfortunately it's all gentrified now, by the 90s even a tar paper shack could be sold for a few acres up in Lamoine.

djrichard , November 1, 2019 at 10:49 pm

Yep, small towns are about as close as we get to clans nowadays. And just like clans, you don't want to be on the outside. Still when you marry in, it would be nice if the town would make you feel more a member like a clan should / would. ;-)

But outside of the small town and extended families I think that's it. We've been atomized into our nuclear families. Except for the ruling class – I think they have this quid pro quo gift giving relationship building figured out quite nicely. Basically they've formed their own small town – at the top.

By the way, I understand Mauss was an influence on Baudrillard. I could almost imagine Baudrillard thinking how the reality of the potlatch societies was so different than the reality of western societies.

Anarcissie , November 2, 2019 at 10:29 am

That's the big problem I see in this discussion. We know, or at least think we know, what's wrong, and what would be better; but we can't get other people to want to do something about it, even those who nominally agree with us. And I sure don't have the answer.

David , November 1, 2019 at 3:07 pm

Neoliberalism, in its early guise at least, was popular because politicians like Thatcher effectively promised something for nothing. Low taxes but still decent public services. The right to buy your council house without putting your parents' council house house in jeopardy. Enjoying private medical care as a perk of your job whilst still finding the NHS there when you were old and sick. And so on. By the time the penny dropped it was too late.
If the Left is serious about challenging neoliberalism, it has to return to championing the virtues of community, which it abandoned decades ago in favour of extreme liberal individualism Unfortunately, community is an idea which has either been appropriated by various identity warriors (thus fracturing society further) or dismissed (as this author does) because it's been taken up by the Right. A Left which explained that when everybody cooperates everybody benefits, but that when everybody fights everybody loses, would sweep the board.

deplorado , November 1, 2019 at 8:30 pm

>>Neoliberalism, in its early guise at least, was popular because politicians like Thatcher effectively promised something for nothing.

This. That's it.

Thank you David, for always providing among the most grounded and illuminating comments here.

Mo's Bike Shop , November 1, 2019 at 9:54 pm

If the Left is serious about challenging neoliberalism, it has to return to championing the virtues of community

I agree. The tenuous suggestions offered by the article are top down. But top-down universal solutions can remove the impetus for local organization. Which enervates the power of communities. And then you can't do anything about austerity, because your Rep loves the PowerPoints and has so much money from the Real Estate community.

Before one experiences the virtue, or power, of a community, one has to go through the pain in the ass of contributing to a community. It has to be rewarding process or it won't happen.

No idea how to do that from the top.

Capital fn. 4 , November 1, 2019 at 3:12 pm

Jeez louise-
one more attempt to get past Skynet

PKMKII , November 1, 2019 at 4:05 pm

Anyone have a link to the studies mentioned about how Econ majors were the only ones to act selfishly in the game scenarios?

Rod , November 2, 2019 at 3:30 pm

this may not get the ECON majors specifically but this will raise your eyebrows

https://www.nationalgeographic.com/magazine/2018/06/embark-essay-tragedy-of-the-commons-greed-common-good/

this is next gen coming up here

Summer , November 1, 2019 at 5:33 pm

"An example of how this plays out can be seen in academic studies showing that, in game scenarios presenting the opportunity to free-ride on the efforts of others, only economics students behaved as economic models predicted: all other groups were much more likely to pool their resources. Having been trained to believe that others are likely to be selfish, economists believe that their best course of action is to be selfish as well. The rest of us still have the instinct to cooperate. Perhaps this shouldn't be surprising: after all, as George Monbiot argues in 'Out of the Wreckage', cooperation is our species' main survival strategy."

Since so many people believe their job is their identity, would be interssting to know what the job training or jobs were of the "others."

Summer , November 1, 2019 at 5:35 pm

"Ultimately, they can't escape the fact that most people would like to spend less time at work."

And that is a key point!

Carey , November 1, 2019 at 7:39 pm

>so many people believe their job is their identity

Only because the social sphere, which in the medium and long term we *all depend on* to survive, has been debased by 24/7/365 neolib talking points, and their purposeful economic constrictions..

Jeremy Grimm , November 1, 2019 at 7:13 pm

How many people have spent their lives working for the "greater good"? How many work building some transcendental edifice from which the only satisfaction they could take away was knowing they performed a part of its construction? The idea that Humankind is selfish and greedy is a projection promoted by the small part of Humankind that really is selfish and greedy.

Sound of the Suburbs , November 2, 2019 at 4:59 am

Let's work out the basics, this will help.

Where does wealth creation actually occur in the capitalist system?

Nations can do well with the trade, as we have seen with China and Germany, but this comes at other nation's expense.
In a successful global economy, trade should be balanced over the long term.
Keynes was aware of this in the past, and realised surplus nations were just as much of a problem as deficit nations in a successful global economy with a long term future.

Zimababwe has lots of money and it's not doing them any favours. Too much money causes hyper-inflation.
You can just print money, the real wealth in the economy lies somewhere else.
Alan Greenspan tells Paul Ryan the Government can create all the money it wants and there is no need to save for pensions.
https://www.youtube.com/watch?v=DNCZHAQnfGU
What matters is whether the goods and services are there for them to buy with that money. That's where the real wealth in the economy lies.
Money has no intrinsic value; its value comes from what it can buy.
Zimbabwe has too much money in the economy relative to the goods and services available in that economy. You need wheelbarrows full of money to buy anything.
It's that GDP thing that measures real wealth creation.

GDP does not include the transfer of existing assets like stocks and real estate.
Inflated asset prices are just inflated asset prices and this can disappear all too easily as we keep seeing in real estate.
1990s – UK, US (S&L), Canada (Toronto), Scandinavia, Japan
2000s – Iceland, Dubai, US (2008)
2010s – Ireland, Spain, Greece
Get ready to put Australia, Canada, Norway, Sweden and Hong Kong on the list.
They invented the GDP measure in the 1930s, to track real wealth creation in the economy after they had seen all that apparent wealth in the US stock market disappear in 1929.
There was nothing really there.

Now, we can move on further.

The UK's national income accountants can't work out how finance adds any value (creates wealth).
Banks create money from bank loans, not wealth.
https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf
We have mistaken inflating asset prices for creating wealth.

How can banks create wealth with bank credit?
The UK used to know before 1980.
https://www.housepricecrash.co.uk/forum/uploads/monthly_2018_02/Screen-Shot-2017-04-21-at-13_53_09.png.e32e8fee4ffd68b566ed5235dc1266c2.png
Before 1980 – banks lending into the right places that result in GDP growth (business and industry, creating new products and services in the economy)
After 1980 – banks lending into the wrong places that don't result in GDP growth (real estate and financial speculation)
What happened in 1979?
The UK eliminated corset controls on banking in 1979 and the banks invaded the mortgage market and this is where the problem starts.

Real estate does make the economy boom, but there is no real wealth creation in inflating asset prices.
What is really happening?
When you use bank credit to inflate asset prices, the debt rises much faster than GDP.
https://www.housepricecrash.co.uk/forum/uploads/monthly_2018_02/Screen-Shot-2017-04-21-at-13_53_09.png.e32e8fee4ffd68b566ed5235dc1266c2.png
The bank credit of mortgages is bringing future spending power into today.
Bank loans create money and the repayment of debt to banks destroys money.
https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf
In the real estate boom, new money pours into the economy from mortgage lending, fuelling a boom in the real economy, which feeds back into the real estate boom.
The Japanese real estate boom of the 1980s was so excessive the people even commented on the "excess money", and everyone enjoyed spending that excess money in the economy.
In the real estate bust, debt repayments to banks destroy money and push the economy towards debt deflation (a shrinking money supply).
Japan has been like this for thirty years as they pay back the debts from their 1980s excesses, it's called a balance sheet recession.
https://www.youtube.com/watch?v=8YTyJzmiHGk
Bank loans effectively take future spending and bring it in today.
Jam today, penury tomorrow.
Using future spending power to inflate asset prices today is a mistake that comes from thinking inflating asset prices creates real wealth.
GDP measures real wealth creation.

Sound of the Suburbs , November 2, 2019 at 5:37 am

Did you know capitalism works best with low housing costs and a low cost of living? Probably not, you are in the parallel universe of neoliberalism.

William White (BIS, OECD) talks about how economics really changed over one hundred years ago as classical economics was replaced by neoclassical economics.

https://www.youtube.com/watch?v=g6iXBQ33pBo&t=2485s

He thinks we have been on the wrong path for one hundred years.

Some very important things got lost 100 years ago.

Disposable income = wages – (taxes + the cost of living)

"Wait a minute, employees get their money from wages and businesses have to cover high housing costs in wages reducing profit" the CBI

It's all about the economy, and UK businesses will benefit from low housing costs. High housing costs push up wages and reduce profits. Off-shore to make more profit, you can pay lower wages where the cost of living is lower, e.g. China; the US and UK are rubbish.

Sound of the Suburbs , November 2, 2019 at 8:11 am

What was Keynes really doing? Creating a low cost, internationally competitive economy. Keynes's ideas were a solution to the problems of the Great Depression, but we forgot why he did, what he did.

They tried running an economy on debt in the 1920s. The 1920s roared with debt based consumption and speculation until it all tipped over into the debt deflation of the Great Depression. No one realised the problems that were building up in the economy as they used an economics that doesn't look at private debt, neoclassical economics.

Keynes looked at the problems of the debt based economy and came up with redistribution through taxation to keep the system running in a sustainable way and he dealt with the inherent inequality capitalism produced.

The cost of living = housing costs + healthcare costs + student loan costs + food + other costs of living

Disposable income = wages - (taxes + the cost of living)

High progressive taxation funded a low cost economy with subsidised housing, healthcare, education and other services to give more disposable income on lower wages.

Employers and employees both win with a low cost of living.

Keynesian ideas went wrong in the 1970s and everyone had forgotten the problems of neoclassical economics that he originally solved.

Sound of the Suburbs , November 2, 2019 at 8:44 am

Economics, the time line:

We thought small state, unregulated capitalism was something that it wasn't as our ideas came from neoclassical economics, which has little connection with classical economics.

On bringing it back again, we had lost everything that had been learned in the 1930s, by which time it had already demonstrated its flaws.

Kristin Lee , November 2, 2019 at 5:54 am

Ultimately, neoliberalism is about privatization and ownership of everything. This is why it's so important to preserve the Common Good, the vital resources and services that support earthly existence. The past 40 years has shown what happens when this falls out of balance. Our value system turns upside down – the sick become more valuable than the healthy, a violent society provides for the prisons-for-profit system and so on. The biggest upset has been the privatization of money creation.

This latest secret bank bailout (not really secret as Dodd-Frank has allowed banks to siphon newly created money from the Fed without Congressional approval. No more public embarrassment that Hank Paulson had to endure.) They are now up to $690 billion PER WEEK while the media snoozes. PPPs enjoy the benefits of public money to seed projects for private gain. The rest of us have to rely on predatory lenders, sinking us to the point of Peak Debt, where private debt can never be paid off and must be cancelled, as it should be because it never should've happened in the first place.

"Neoliberalism, which has influenced so much of the conventional thinking about money, is adamant that the public sector must not create ('print') money, and so public expenditure must be limited to what the market can 'afford.' Money, in this view, is a limited resource that the market ensures will be used efficiently. Is public money, then, a pipe dream? No, for the financial crisis and the response to it undermined this neoliberal dogma.

The financial sector mismanaged its role as a source of money so badly that the state had to step in and provide unlimited monetary backing to rescue it. The creation of money out of thin air by public authorities revealed the inherently political nature of money. But why, then, was the power to create money ceded to the private sector in the first place -- and with so little public accountability? And if money can be created to serve the banks, why not to benefit people and the environment? "

Paul Hirshman , November 2, 2019 at 3:33 pm

The Commons should have a shot at revival as the upcoming generation's desires are outstripped by their incomes and savings. The conflict between desires and reality may give a boost to alternate notions of what's desirable. Add to this the submersion of cities under the waves of our expanding oceans, and one gets yet another concrete reason to think that individual ownership isn't up to the job of inspiring young people.

A Commons of some sort will be needed to undo the cost of generations of unpaid negative externalities. Fossil fuels, constant warfare, income inequality, stupendous idiocy of kleptocratic government these baked in qualities of neo-liberalism are creating a very large, dissatisfied, and educated population just about anywhere one looks. Suburbia will be on fire, as well as underwater. Farmlands will be parched, drenched, and exhausted. Where will Larry Summers dump the garbage?

[Nov 24, 2019] Chris Hedges on Death of the Liberal Class - YouTube

Highly recommended!
Jan 04, 2011 | www.youtube.com

riccardo estavans , 4 months ago

Colin Shaw , 5 months ago Think Mackay , 5 months ago

Bill Clinton destroyed the USA economy and middle class like no president has ever done. Bush II and Obama exacerbated the destruction by the hundred folds.

Orion's Ghost , 5 months ago

I believe Hedges statement that "the true correctives to society were social movements that never achieved formal political power" is perhaps one of the most important things for each of us to understand.

Fred Slocombe , 3 months ago (edited)
Ali Naderzad , 3 months ago (edited)

16:50 GENIUS. WELL DONE. So true.go Chris !!!

cubismo85 , 4 weeks ago

hauntingly accurate in every aspect, im speehless

Eris123451 , 3 days ago

I watched this with interest and curiosity and growing skepticism although he makes some killer points and cites some extremely disturbing facts; above all he accepts and uncritically so the American narrative of history.

Brian Valero , 4 months ago

The message from democrats is "hey we're not bigots". Most people (repubs+dems) aren't. If they keep calling on that for energy the Dems will forever continue to lose. If they don't come back to the working class they might as well just call themselves conservatives.

jimmyolsenblues , 4 months ago

he did/wrote this in 2011, he really understood then how things are in 2019.

Andy Russ , 3 years ago (edited)

Prescient 'post-mortem' of the 2016 election

2009starlite , 5 months ago (edited)

Those of us who seek the truth can't stop looking under every stone. The truth will set you free but you must share it with those who are ready to hear it and hide it from those who can hurt you for exposing it. MT

Aubrey De Bliquy , 2 days ago (edited)

"A Society that looses the capacity for the sacred cannibalizes itself until it dies because it exploits the natural world as well as human beings to the point of collapse."

Clark WARS News , 1 day ago

I learned something from watching this thank you powerful teacher love you ⭐

Rebel Scum , 5 months ago

I think he meant Washington State University which is in Pullman. The University of Washington is in Seattle. 16:43

phuturephunk , 6 years ago

Damn, he's grim...but he makes a whole lot of sense.

davekiernan1 , 2 weeks ago

Like Mr bon ribentrof said in monty Python. He's right you know...

Rich Keal , 5 months ago

Search YouTube for Dr. Antony Sutton the funding of the Bolshevik Revolution. The Act of 1871 as well. Take the Red Pill and go deeper.

kevin joseph , 5 days ago

loony republicans? did they open the borders, legalize late abortions and outright infanticide?

Michael Maya , 5 months ago

I've listened to this twice both twice it played on accident bcuz I had you tube on autoplay, it woke me up while I was sleeping but I'm glad it did.

Bryce Hallam , 1 week ago

Set the Playback Speed to: 1.25 . Great lecture.

Buddy Aces , 5 months ago

It makes sense and we can smell it! Those varmints must be shown no mercy.

VC YT , 5 months ago

To get in the mood, I watched this lecture from behind some Hedges. :-)

Orion's Ghost , 5 months ago

I believe Hedges statement that "the true correctives to society were social movements that never achieved formal political power" is perhaps one of the most important things for each of us to understand.

Fred Slocombe , 3 months ago (edited)

15:05 The subjugation of Education 21:15 Theatrical Manipulation of Expectations 24:08 U.S. Debt and Borrowing

Ali Naderzad , 3 months ago (edited)

16:50 GENIUS. WELL DONE. So true.go Chris !!!

cubismo85 , 4 weeks ago

hauntingly accurate in every aspect, im speehless

Eris123451 , 3 days ago

I watched this with interest and curiosity and growing skepticism although he makes some killer points and cites some extremely disturbing facts; above all he accepts and uncritically so the American narrative of history. The Progressive movement, for example, (written into American history as being far more important that it ever really was,) unlike Socialism or Communism was primarily just a literary and a trendy intellectually movement that attempted, (unconvincingly,) to persuade poor, exploited and abused Americans that non of those other political movements, (reactive and grass-roots,) were needed here and that capitalism could and might of itself, cure itself; it conceded little, promised much and unlike either Communism or Socialism delivered fuck all. Personally I remain unconvinced also by, "climate science," (which he takes as given,) and which seems to to me to depend far too much on faith and self important repeatedly insisting that it's true backed by lurid and hysterical propaganda and not nearly enough on rational scientific argument, personally I can't make head nor tail of the science behind it ? (it may well be true, or not; I can't tell.) But above all and stripped of it his pretensions his argument is just typical theist, (of any flavor you like,) end of times claptrap all the other systems have failed, (China for example somewhat gives the lie to death of Communism by the way and so on,) the end is neigh and all that is left to do is for people to turn to character out of first century fairly story. I wish him luck with that.

penny kannon , 5 months ago

CHRIS HEDGES YOUR BOOK MUST BE HIGH SCHOOL STUDY!!! wtkjr.!!!

Brian Valero , 4 months ago

The message from democrats is "hey we're not bigots". Most people (repubs+dems) aren't. If they keep calling on that for energy the Dems will forever continue to lose. If they don't come back to the working class they might as well just call themselves conservatives.

jimmyolsenblues , 4 months ago

he did/wrote this in 2011, he really understood then how things are in 2019.

Andy Russ , 3 years ago (edited)

Prescient 'post-mortem' of the 2016 election

Jean Lloyd Bradberry , 5 months ago

Shared! Excellent presentation!

Mike van Wijngaarden , 4 months ago

What if, to fail is the objective? That would mean they planned everything that's happened and will happen.

Michael Hutz , 1 month ago (edited)

Loved Chris in this one. First time I've heard him talking naturally instead of reading verbatim from a text which makes him sound preachy.

Bill Mccloy , 4 months ago (edited)

Chris is our canary in a coal mine! Truly a national treasure and a champion for humanity. And he's more Christian than he thinks he is.

Herr Pooper , 4 months ago

I have always loved Chris Hedges, but ever since becoming fully awake it pains me to see how he will take gigantic detours of imagination to never mention Israel, AIPAC or Zionism, and their complete takeover of the US. What a shame.

ISIS McCain , 4 months ago

Hey Chris, please look up Dr. Wolfe and have a big debate with him!!! I believe you guys would mostly hit it off, but please look him up!

UtopiaMinor666 , 8 years ago

The reality of this is enough to make you want to cry.

Terri Pebsworth , 3 months ago

Excellent! And truer today (2019) than even in 2010.

Russell Olausen , 4 months ago

Notes From the Underground,my favourite book.

John Doe , 3 weeks ago

Gosh I thought it was being broadcasted today. Then I heard it and it was really for today.

George C. May , 2 months ago

Not once did I hear the word corruption which in this speech sums up the bureaucratic control of the country !

L N , 5 months ago

I think Chris Has saved my life! ✊🏼✌️ 👍🏼🌅

Laureano Luna , 4 months ago

43:53 Cicero did not even live the imperial period of Rome...

andrew domenitz , 4 months ago

The continued growth of unproductive debt against the low or nonexistent growth of GDP is the recipe for collapse, for the whole world economic system.

Thomas Simmons , 5 months ago

I agree with Chris about the tragedy of the Liberal Church. Making good through identity politics however, is every bit as heretical and tragic as Evangelical Republican corrupted church think, in my humble, Christian opinion.

Alexandros Aiakides , 2 weeks ago (edited)

The death of the present western hemisphere governments and "democratic" institutions must die right now for humanity to be saved from the zombies that rule it. 'Cannibalization" of oikonomia was my idea, as well as of William Engdahl. l am glad hearing Hedges to adopt the expression of truth. ( November 2019. from Phthia , Hellas ).

Heathcliff Earnshaw , 4 months ago div cl

ass="comment-renderer-text-content expanded"> Gosh , especially that last conclusion ,was terrific so I want to paste the whole of that Auden poem here:- September 1, 1939 W. H. Auden - 1907-1973

... ... ...

I sit in one of the dives
On Fifty-second Street
Uncertain and afraid
As the clever hopes expire
Of a low dishonest decade:
Waves of anger and fear
Circulate over the bright
And darkened lands of the earth,
Obsessing our private lives;
The unmentionable odour of death
Offends the September night.

[Nov 21, 2019] How Neoliberal Thinkers Spawned Monsters They Never Imagined

Highly recommended!
Nov 21, 2019 | www.nakedcapitalism.com

Posted on November 20, 2019 by Yves Smith By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website

Political theorist Wendy Brown's latest book, In the Ruins of Neoliberalism: The Rise of Antidemocratic Politics in the West , traces the intellectual roots of neoliberalism and reveals how an anti-democratic project unleashed monsters – from plutocrats to neo-fascists – that its mid-20 th century visionaries failed to anticipate. She joins the Institute for New Economic Thinking to discuss how the flawed blueprint for markets and the less-discussed focus on morality gave rise to threats to democracy and society that are distinct from what has come before.

Lynn Parramore: To many people, neoliberalism is about economic agendas. But your book explores what you describe as the moral aspect of the neoliberal project. Why is this significant?

Wendy Brown: Most critical engagement with neoliberalism focuses on economic policy deregulation, privatization, regressive taxation, union busting and the extreme inequality and instability these generate. However, there is another aspect to neoliberalism, apparent both in its intellectual foundations and its actual roll-out, that mirrors these moves in the sphere of traditional morality. All the early schools of neoliberalism (Chicago, Austrian, Freiburg, Virginia) affirmed markets and the importance of states supporting without intervening in them.

But they also all affirmed the importance of traditional morality (centered in the patriarchal family and private property) and the importance of states supporting without intervening in it. They all supported expanding its reach from the private into the civic sphere and rolling back social justice previsions that conflict with it. Neoliberalism thus aims to de-regulate the social sphere in a way that parallels the de-regulation of markets.

Concretely this means challenging, in the name of freedom, not only regulatory and redistributive economic policy but policies aimed at gender, sexual and racial equality. It means legitimating assertions of personal freedom against equality mandates (and when corporations are identified as persons, they too are empowered to assert such freedom). Because neoliberalism has everywhere carried this moral project in addition to its economic one, and because it has everywhere opposed freedom to state imposed social justice or social protection of the vulnerable, the meaning of liberalism has been fundamentally altered in the past four decades.

That's how it is possible to be simultaneously libertarian, ethnonationalist and patriarchal today: The right's contemporary attack on "social justice warriors" is straight out of Hayek.

LP: You discuss economist and philosopher Friedrich von Hayek at length in your book. How would you distribute responsibility to him compared to other champions of conservative formulations for how neoliberalism has played out? What were his blind spots, which seem evidenced today in the rise of right-wing forces and angry populations around the world?

WB: Margaret Thatcher thumped Hayek's The Constitution of Liberty and declared it the bible of her project. She studied it, believed it, and sought to realize it. Reagan imbibed a lot of Thatcherism. Both aimed to implement the Hayekian view of markets, morals and undemocratic statism. Both accepted his demonization of society (Thatcher famously quotes him, "there's no such thing") and his view that state policies aimed at the good for society are already on the road to totalitarianism. Both affirmed traditional morality in combination with deregulated markets and attacks on organized labor.

I am not arguing that Hayek is the dominant influence for all times and places of neoliberalization over the past four decades -- obviously the Chicago Boys [Chilean economists of the '70s and '80s trained at the University of Chicago] were key in Latin America while Ordoliberalism [a German approach to liberalism] has been a major influence in the European Union's management of the post-2008 crises. "Progressive neoliberals" and neoliberalized institutions hauled the project in their own direction. But Hayek's influence is critical to governing rationality of neoliberalism in the North and he also happens to be a rich and complex thinker with a fairly comprehensive worldview, one comprising law, family, morality, state, economy, liberty, equality, democracy and more.

The limitations? Hayek really believed that markets and traditional morality were both spontaneous orders of action and cooperation, while political life would always overreach and thus required tight constraints to prevent its interventions in morality or markets. It also needed to be insulated from instrumentalism by concentrated economic interests, from aspiring plutocrats to the masses. The solution, for him, was de-democratizing the state itself. He was, more generally, opposed to robust democracy and indeed to a democratic state. A thriving order in his understanding would feature substantial hierarchy and inequality, and it could tolerate authoritarian uses of political power if they respected liberalism, free markets and individual freedom.

We face an ugly, bowdlerized version of this today on the right. It is not exactly what Hayek had in mind, and he would have loathed the plutocrats, demagogues and neo-fascist masses, but his fingerprints are on it.

LP: You argue that there is now arising something distinct from past forms of fascism, authoritarianism, plutocracy, and conservatism. We see things like images of Italian right groups giving Fascist salutes that have been widely published. Is that merely atavism? What is different?

WB: Of course, the hard right traffics in prior fascist and ultra-racist iconography, including Nazism and the Klan. However, the distinctiveness of the present is better read from the quotidian right than the alt-right.

We need to understand why reaction to the neoliberal economic sinking of the middle and working class has taken such a profoundly anti-democratic form. Why so much rage against democracy and in favor of authoritarian statism while continuing to demand individual freedom? What is the unique blend of ethno-nationalism and libertarianism afoot today? Why the resentment of social welfare policy but not the plutocrats? Why the uproar over [American football player and political activist] Colin Kaepernick but not the Panama Papers [a massive document leak pointing to fraud and tax evasion among the wealthy]? Why don't bankrupt workers want national healthcare or controls on the pharmaceutical industry? Why are those sickened from industrial effluent in their water and soil supporting a regime that wants to roll back environmental and health regulations?

Answers to these questions are mostly found within the frame of neoliberal reason, though they also pertain to racialized rancor (fanned by opportunistic demagogues and our mess of an unaccountable media), the dethronement of white masculinity from absolute rather than relative entitlement, and an intensification of nihilism itself amplified by neoliberal economization.

These contributing factors do not run along separate tracks. Rather, neoliberalism's aim to displace democracy with markets, morals and liberal authoritarian statism legitimates a white masculinist backlash against equality and inclusion mandates. Privatization of the nation legitimates "nativist" exclusions. Individual freedom in a world of winners and losers assaults the place of equality, access and inclusion in understandings of justice.

LP: Despite your view of democratized capitalism as an "oxymoron," you also observe that capitalism can be modulated in order to promote equality among citizens. How is this feasible given the influence of money in politics? What can we do to mitigate the corruption of wealth?

WB: Citizens United certainly set back the project of achieving the political equality required by and for democracy. I wrote about this in a previous book, Undoing the Demos , and Timothy Kuhner offers a superb account of the significance of wealth in politics in Capitalism V. Democracy: Money in Politics and the Free Market Constitution . Both of us argue that the Citizens United decision, and the several important campaign finance and campaign speech decisions that preceded it, are themselves the result of a neoliberalized jurisprudence. That is, corporate dominance of elections becomes possible when political life as a whole is cast as a marketplace rather than a distinctive sphere in which humans attempt to set the values and possibilities of common life. Identifying elections as political marketplaces is at the heart of Citizens United.

So does a future for democracy in the United States depend on overturning that decision?

Hardly. Democracy is a practice, an ideal, an imaginary, a struggle, not an achieved state. It is always incomplete, or better, always aspirational. There is plenty of that aspiration afoot these days -- in social movements and in statehouses big and small. This doesn't make the future of democracy rosy. It is challenged from a dozen directions divestment from public higher education, the trashing of truth and facticity, the unaccountability of media platforms, both corporate and social, external influence and trolling, active voter suppression and gerrymandering, and the neoliberal assault on the very value of democracy we've been discussing. So the winds are hardly at democracy's back.


Bruce Bartlett , November 20, 2019 at 10:05 am

I think Milton Friedman was vastly more important than Hayek is shaping the worldview of American conservatives on economic policy. Until Hayek won the Nobel he was virtually forgotten in the US. Don't know about the UK, but his leaving the London School of Economics undoubtedly reduced his influence there. Hayek was very isolated at the University of Chicago even from the libertarians at the Department of Economics, largely due to methodological issues. The Chicago economists thought was really more of as philosopher, not a real economist like them.

Grebo , November 20, 2019 at 3:39 pm

Friedman was working for Hayek, in the sense that Hayek instigated the program that Friedman fronted.

I was amused by a BBC radio piece a couple of years ago in which some City economist was trying to convince us that Hayek was a forgotten genius who we ought to dig up and worship, as if he doesn't already rule the World from his seat at God's right hand.

rd , November 20, 2019 at 10:34 am

A couple of thoughts:

Citizens United: The conservative originalists keep whining about activist judges making up rights, like the "right to privacy" in Roe v. Wade. Yet they were able to come up with Citizens United that gave a whole new class of rights to corporations to effectively give them the rights of individuals (the People that show up regularly in the Constitution, including the opening phrase). If you search the Constitution, "company", "corporation" etc. don't even show up as included in the Constitution. "Commerce" shows up a couple of times, specifically as something regulated by Congress. Citizens United effectively flips the script of the Constitution in giving the companies doing Commerce the ability to regulate Congress. I think Citizen's United is the least conservative ruling that the conservative court could have come up with, bordering on fascism instead of the principles clearly enunciated throughout the Constitution. It is likely to be the "Dred Scott" decision of the 21st century.

2. Neo-liberalism is like Marxism and a bunch of other isms, where the principles look fine on paper until you apply them to real-world people and societies. This is the difference between Thaler's "econs" vs "humans". It works in theory, but not in practice because people are not purely rational and the behavioral aspects of the people and societies throw things out of kilter very quickly. That is a primary purpose of regulation, to be a rational fly-wheel keeping things from spinning out of control to the right or left. Marxism quickly turned into Stalinism in Russia while Friedman quickly turned into massive inequality and Donald Trump in the US. The word "regulate" shows up more frequently in the Constitution than "commerce", or "freedom" (only shows up in First Amendment), or "liberty" (deprivation of liberty has to follow due process of law which is a form of regulation). So the Constitution never conceived of a self-regulating society in the way Hayek and Friedman think things should naturally work – writing court rulings on the neo-liberal approach is a radical activist departure from the Constitution.

voteforno6 , November 20, 2019 at 11:50 am

The foundation was laid for Citizens United long before, I think, when the Supreme Court decided that corporations were essentially people, and that money was essentially speech. It would be nice if some justice started hacking away at those erroneous decisions (along with what they did with the 2nd Amendment in D.C. v Heller .)

BlakeFelix , November 20, 2019 at 12:46 pm

I honestly think the corporations are people was good and the money is speech is terrible. If most of the big corporations were actually treated like people those people would be in jail. They are treated better than people are now. Poor people, anyway. When your corporation is too big not to commit crimes, it's too big and should go in time out at least.

LifelongLib , November 20, 2019 at 1:37 pm

My understanding is that corporate personhood arose as a convenience to allow a corporation to be named as a single entity in legal actions, rather than having to name every last stockholder, officer, employee etc. Unfortunately the concept was gradually expanded far past its usefulness for the rest of us.

Massinissa , November 20, 2019 at 2:36 pm

"If most of the big corporations were actually treated like people those people would be in jail."

Thats part of the problem: Corporations CANNOT be put in jail because they are organizations, not people, but they are given the same 'rights' as people. That is fundamentally part of the problem.

inode_buddha , November 20, 2019 at 4:16 pm

True, but corporations are directed by people who *can* be jailed. Often they are compensated as if they were taking full liability when in fact they face none. I think its long past time to revisit the concept of limited liability.

Allegorio , November 20, 2019 at 9:50 pm

"Limited Liability" is basic to the concept of the corporation. How about some "limited liability" for individuals? The whole point of neo-liberalism is "lawlessness" or the "Law of the Jungle" in unfettered markets. The idea is to rationalize raw power, both over society and the family, the last stand of male dominance, the patriarchy. The women who succeed in this eco-system, eschew the nurturing feminine and espouse the predatory masculine. "We came, we saw, he died." Psychopaths all!

Ford Prefect , November 20, 2019 at 8:11 pm

The executives need to go to jail. Until then, corporate fines are just a cost of doing business and white collar lawbreaking will continue. Blowing up the world's financial system has less legal consequence than doing 80 in a 65 mph zone. Even if they just did civil asset forfeiture on executives based on them having likely committed a crime while in their house and using their money would go along ways to cleaning things up.

The whittling away of white collar crime by need to demonstrate intent beyond reasonable doubt means the executives can just plead incompetence or inattention (while collecting their $20 million after acquittal). Meanwhile, a poor person with a baggie of marijuana in the trunk of their car goes to jail for "possession" where intent does not need to be shown, mere presence of the substance. If they used the same standard of the mere presence of a fraud to be sufficient to jail white collar criminals, there wouldn't be room in the prisons for poor people picked up for little baggies of weed.

Procopius , November 21, 2019 at 8:49 am

Actually, if you research the history, the court DID NOT decide that corporations are people. The decision was made by the secretary to the court, who included the ruling in the headnote to Santa Clara County v. Southern Pacific Railroad, 1886. The concept was not considered in the case itself nor in the ruling the judges made. However, it was so convenient for making money that judges and even at least one justice on the supreme court publicized the ruling as if it were an actual legal precedent and have followed it ever since. I am not a lawyer, but I think that ruling could be changed by a statute, whereas Citizens United is going to require an amendment to the constitution. On the other hand, who knows? Maybe the five old, rich, Republican, Catholic Men will rule that it is embedded in the constitution after all. I think it would be worth a try.

Patrick Thornton , November 21, 2019 at 9:11 am

Santa Clara Count v Southern Pacific RR 1886 – SCOTUS Court Reporter Bancroft Davis, a former RR executive, claimed in his headnote summary of the case that the Court had ruled that corporations are entitled to 14th Amendment protections (thus preventing their regulation by an individual state) thus establishing the legal precedent that corporations are "persons" with speech rights. In fact, the Court never made that determination. The result is a legal precedent established by a bit of legal trickery. Buckley v Valeo 1976: giving money to a political campaign=speech. Citizens 2010: no limit on "speech" (money). The 14 amendment was established to protect former slaves and was used by the court instead to protect corporations (property).

New Wafer Army , November 20, 2019 at 2:17 pm

"Neo-liberalism is like Marxism and a bunch of other isms, where the principles look fine on paper until you apply them to real-world people and societies."

Marx analysed 19th Century capitalism; he wrote very little on what type of system should succeed capitalism. This is in distinct contrast to neo-liberalism which had a well plotted path to follow (Mirowski covers this very well). Marxism did not turn into Stalinism; Tsarism turned into Leninism which turned into Stalinism. Marx had an awful lot less to do with it than Tsar Nicholas II.

GramSci , November 20, 2019 at 5:17 pm

+1000. I think it was Tsar Nicholas II who said, L'etat, c'est moi"./s; Lenin just appropriated this concept to implement his idea of "the dictatorship of the proletariat."

JBird4049 , November 20, 2019 at 11:10 pm

IIRC Lenin did warn about Stalin.

J7915 , November 20, 2019 at 11:25 pm

Louis 4 of France is the state, and the state was him.
Lenin is better known, IIRC for identifying capitalists as useful idiots.

Massinissa , November 20, 2019 at 2:33 pm

"Neo-liberalism is like Marxism and a bunch of other isms, where the principles look fine on paper until you apply them to real-world people and societies."

I'm sorry, but this is fundamentally intellectually lazy. Marxism isn't so much a way to structure the world, like Neoliberalism is, but a method of understanding Capitalism and class relations to capitalism.

Edit: I wrote this before I saw New Wafer Army's post since I hadnt refreshed the page since I opened it. They said pretty much what I wanted to say, so kudos to them.

salvo , November 20, 2019 at 2:51 pm

yep, Marx would never have called himself a Marxist :-)

"Marxism" is just a set of analytic tools to describe the capitalist society and power relations

those who consciously call themselves "Marxist" do it clarify their adherence to those tools not to express an ideological position

Anthony K Wikrent , November 20, 2019 at 10:41 am

These critiques of neoliberalism are always welcome, but they inevitably leave me with irritated and dissatisfied with their failure or unwillingness to mention the political philosophy of republicanism as an alternative, or even a contrast.

The key is found in Brown's statement " It also needed to be insulated from instrumentalism by concentrated economic interests, from aspiring plutocrats to the masses. The solution, for him [von Hayek], was de-democratizing the state itself. He was, more generally, opposed to robust democracy and indeed to a democratic state."

Contrast this to Federalist Paper No. 10, Madison's famous discourse on factions. Madison writes that 1) factions always arise from economic interests ["But the most common and durable source of factions has been the various and unequal distribution of property."], and 2) therefore the most important function of government is to REGULATE the clash of these factions ["The regulation of these various and interfering interests forms the principal task of modern legislation, and involves the spirit of party and faction in the necessary and ordinary operations of the government."

In a very real sense, neoliberalism is an assault on the founding principles of the American republic.

Which should not really surprise anyone, since von Hayek was trained as a functionary of the Austro-Hungarian empire. And who was the first secretary of the Mont Pelerin Society that von Hayen founded to promote neoliberalist doctrine and propaganda? Non other than Max Thurn, of the reactionary Bavarian Thurn und Taxis royal family.

deplorado , November 20, 2019 at 4:02 pm

Thank you for illuminating a deeper viewpoint.

WJ , November 20, 2019 at 9:57 pm

Madison's Federalist 10 is much like Aristotle's Politics and the better Roman historians in correctly tracing back the fundamental tensions in any political community to questions of property and class.

And, much like Aristotle's "mixed regime," Madison proposes that the best way of overcoming these tensions is to institutionalize organs of government broadly representative of the two basic contesting political classes–democratic and oligarchic–and let them hash things out in a way that both are forced to deal with the other. This is a simplification but not a terribly inaccurate one.

The problem though so far as I can tell is that it almost always happens that the arrangement is set up in a way that structurally privileges existing property rights (oligarchy) over social freedoms (democracy) such that the oligarchic class quickly comes to dominate even those governmental organs designed to be "democratic". In other words, I have never seen a theorized republic that upon closer inspection was not an oligarchy in practice.

notabanktoadie , November 20, 2019 at 11:15 am

The Progressive Approach in a nutshell:

1) Support welfare for the banks (e.g. deposit guarantees) and the rich (e.g. non-negative yields and interest on the inherently risk-free debt of monetary sovereigns).
2) Seek to regulate the thievery inherent in 1).
3) Bemoan the inevitable rat-race to the bottom when 2) inevitably fails because of unenforceable laws, such as bans on insider trading, red-lining, etc.

Shorter: Progressives ENABLE the injustice they profess, no doubt sincerely at least in some cases, to oppose.

Rather stupid from an engineering perspective, I'd say. Or more kindly, blind.

LifelongLib , November 20, 2019 at 1:55 pm

"welfare banks deposit guarantees"

Don't know about you, but I like being protected from losing all my money if the bank goes under

Arizona Slim , November 20, 2019 at 2:01 pm

Yeah, me too!

notabanktoadie , November 20, 2019 at 2:17 pm

I lived in Tucson for a while. Met the love of my life there.

Show some loyalty, gal!

flora , November 20, 2019 at 3:33 pm

+1

notabanktoadie , November 20, 2019 at 2:11 pm

Accounts at the Central Bank are inherently risk-free.

So why may only depository institutions have those?

Hmmm? Violation of equal protection under the law much?

Or would the TRS-80 at the Fed be overloaded otherwise?

LifelongLib , November 20, 2019 at 2:36 pm

I'm fine with the federal government providing basic banking services (which would inherently protect depositors) but your initial post didn't say anything about that. If we continue with a private banking system I want deposit guarantees even if they somehow privilege the banks better than nothing

notabanktoadie , November 20, 2019 at 2:53 pm

My apologies for not detailing everything in every comment. :)

Welcome aboard or rather hello brother!

Lambert Strether , November 20, 2019 at 3:02 pm

> your initial post

No biggie, but this is not a board. It's a blog. Here, you are referring to a comment , not the original post authored by Lynn Parramore.

LifelongLib , November 20, 2019 at 3:11 pm

Point taken!

Procopius , November 21, 2019 at 8:59 am

I have read that originally conservatives (including many bankers) opposed deposit insurance because it would lead people to be less careful when they evaluated the banking institution they would entrust with their money. They did not seem to notice that however much diligence depositors used, they ended up losing their life's savings over and over. Just as they do not seem to notice that despite having employer-provided insurance tens of thousands of people every year go bankrupt because of medical bills. Funny how that works.

Massinissa , November 20, 2019 at 2:38 pm

I don't understand how this is linked to progressives when most of what you describe is the neoliberal approach to banks. Could you explain?

notabanktoadie , November 20, 2019 at 3:03 pm

See Warren Mosler's Proposals for the Banking System, Treasury, Fed, and FDIC (draft)

Also, government insurance of private liabilities, including privately created liabilities, was instituted under FDR in 1932, iirc.

And I've had innumerable debates with MMT advocates who have stubbornly defended deposit guarantees and other privileges for the banks.

notabanktoadie , November 20, 2019 at 3:25 pm

Adding that rather than deposit guarantees, the US government could have expanded the Postal Savings Service to provide the population with what private banks had so miserably failed to provide – the safe storage of their fiat.

JBirc4049 , November 20, 2019 at 11:28 pm

The banking system was failing in 1932, as was the financial system in 2008, not necessarily because of any lack of solvency of an individual business although some were, but because of the lack of faith in the whole system; bank panics meant that every depositor was trying to get their money out at the same time. People lost everything. It is only the faith in the system that enables the use of bits of paper and plastic to work. So having a guarantee in big, bold letters of people's savings is a good idea.

Synoia , November 20, 2019 at 11:37 am

Personally, I see little distance between the Neo Liberal treatment of Market and Naked Greed, coupled with a complete rejection of Rule of Law for the Common Good.

Carla , November 20, 2019 at 11:47 am

I'm disappointed (but not surprised) that

A. Wendy Brown focuses on big money in politics as the biggest threat to democracy without mentioning never-intended corporate constitutional rights.

B. Lynn Parramore does not call her on it.

What a huge missed opportunity. What a fatal blind spot.

https://movetoamend.org/sites/default/files/how_corporate_constitutional_rights_harm_you_your_family_your_community_your_environment_and_your_democracy.pdf

jsn , November 20, 2019 at 1:13 pm

" It means legitimating assertions of personal freedom against equality mandates (and when corporations are identified as persons, they too are empowered to assert such freedom)."

I'm not seeing the blind spot.

Carla , November 20, 2019 at 3:56 pm

The blind spot is her focus on "money as speech" to the exclusion of the constitutional nightmares created by "corporations are people."

To see why this is such an important (and common) error, please see the link I provided.

jsn , November 20, 2019 at 8:04 pm

She didn't write the article you wanted, but specifically addresses "corporations as people." That doesn't make her blind to your concern.

I share your concern, but don't criticize m I my allies for having marginally different priorities.

But that's just me.

David , November 20, 2019 at 12:22 pm

"We need to understand why reaction to the neoliberal economic sinking of the middle and working class has taken such a profoundly anti-democratic form." Really? Does anybody here believe that? This reads like another clumsy attempt to dismiss actual popular anger against neoliberalism in favour of pearl-clutching progressive angst, by associating this anger with the latest target for liberal hate, in this case blah blah patriarchy blah blah. The reality is that liberalism has always been about promoting the freedom of the rich and the strong to do whatever they feel like, whilst keeping the ordinary people divided and under control. That's why Liberals have always hated socialists, who think of the good of the community rather than of the "freedom" of the rich, powerful and well connected.
The "democracy" that is being defended here is traditional elite liberal democracy, full of abstract "rights" that only the powerful can exert, dominated by elite political parties with little to choose between them, and indifferent or hostile to actual freedoms that ordinary people want in their daily lives. Neoliberalism is simply a label for its economic views (that haven't changed much over the centuries) whereas social justice is the label for its social wing (ditto).
I think of this every time I wall home through the local high street, where within thirty metres I pass two elderly eastern European men aggressively begging. (It varies in France, but this is slightly closer than the average for a city). I reflect that twenty years of neoliberal policies in France have given these people freedom of movement, and the freedom to sit there in the rain with no home, no job and no prospects. Oh, and now of course they are free to marry each other.

Tangfwa , November 20, 2019 at 12:39 pm

Bingo

Jeremy Grimm , November 20, 2019 at 1:14 pm

I agree with your analysis and assessment of Wendy Brown, as she is portrayed in her statements in this post. However I quibble your assertion: "Neoliberalism is simply a label for its economic views (that haven't changed much over the centuries) whereas social justice is the label for its social wing (ditto)." The word "Neoliberalism" is indeed commonly used as a label as you assert but Neoliberalism as a philosophy is obscured in that common usage.

At its heart I believe Neoliberalism might best be characterized as an epistemology based on the Market operating as the all knowing arbiter of Truth. Hayek exercises notions of 'freedom' in his writing but I believe freedom is a secondary concern once it is defined in terms of its relation to the decisions of the Market. This notion of the Market as epistemology is completely absent from Wendy Brown's discussion of her work in this post.

Her assertion that "neoliberalism's aim [is] to displace democracy with markets, morals and liberal authoritarian statism legitimates a white masculinist backlash against equality and inclusion mandates" collapses once the Market is introduced as epistemology. Neoliberalism does not care one way or another about any of Wendy Brown's concerns. Once the Market decides -- Truth is known. As a political theorist I am surprised there is no analysis of Neoliberalism as a tool the Elite have used to work their will on society. I am surprised there is no analysis of how the Elites have allowed themselves to be controlled within and even displaced by the Corporate Entities they created and empowered using their tool. I am surprised there is no analysis of the way the Corporate Entities and their Elite have worked to use Neoliberalism to subordinate nation states under a hierarchy driven by the decisions of the World Market.

[I admit I lack the stomach to read Hayek -- so I am basing my opinions on what I understand of Phillip Mirowski's analysis of Neoliberalism.]

David , November 20, 2019 at 5:06 pm

I don't disagree with you: I suppose that having been involved in practical politics rather than being a political theorist (which I have no pretensions to being) I am more interested of the reality of some of these ideas than their theoretical underpinnings. I have managed to slog my way through Slobodian's book, and I think your presentation of Hayek's writing is quite fair: I simply wonder how far it is actually at the origin of the destruction we see around us. I would suggest in fact that, once you have a political philosophy based on the value-maximising individual, rather than traditional considerations of the good of society as a whole, you eventually wind up where we are now, once the constraints of religious belief, fear of popular uprisings , fear of Communism etc. have been progressively removed. It's for that reason that I argue that neoliberalism isn't really new: it represents the essential form of liberalism unconstrained by outside forces – almost a teleological phenomenon which, as its first critics feared, has wound up destroying community, family, industries, social bonds and even – as you suggest – entire nation states.

Jeremy Grimm , November 21, 2019 at 9:10 am

Your response to my comment, in particular your assertion "neoliberalism isn't really new" coupled with your assertion apparently equating Neoliberalism with just another general purpose label for a "political philosophy based on the value-maximizing individual, rather than traditional ", is troubling. When I put your assertions with Jerry B's assertion at 6:58 pm:
" many people over focus on a word or the use of a word and ascribe way to literal view of a word. I tend to view words more symbolically and contextually."
I am left wondering what is left to debate or discuss. If Neoliberalism has no particular meaning then perhaps we should discuss the properties of political philosophies based on the value-maximizing-individual, and even that construct only has meaning symbolically and contextually, which is somehow different than the usual notion of meaning as a denotation coupled with a connotation which is shared by those using a term in their discussion -- and there I become lost from the discussion. I suppose I am too pedantic to deviate from the common usages of words, especially technical words like Neoliberalism.

GramSci , November 20, 2019 at 5:37 pm

Yes, but what is "The Market" but yet another name for "God, Almighty"?
Plus ça change

Massinissa , November 20, 2019 at 5:46 pm

Considering how elites throughout history have used religion as a bulwark to guard their privileges, it should be of no surprise that they are building a new one, only this time they are building one that appeals to the religious and secular alike. Neoliberalism will be very difficult to dismantle.

Susan the Other , November 21, 2019 at 10:23 am

But what ironies we create. Citizens United effectively gave political control to the big corporations. In a time when society has already evolved lots of legislation to limit the power and control of any group and especially in commercial/monopoly cases. So that what CU created was a new kind of "means of production" because what gets "produced" these days is at least 75% imported. The means of production is coming to indicate the means of political control. And that is fitting because ordinary people have become the commodity. Like livestock. So in that sense Marx's view of power relationships is accurate although civilization has morphed. Politics is, more and more, the means of production. The means of finance. Just another reason why we would achieve nothing in this world trying to take over the factories. What society must have now is fiscal control. It will be the new means of production. I'm a dummy. I knew fiscal control was the most important thing, but I didn't quite see the twists and turns that keep the fundamental idea right where it started.

PlutoniumKun , November 20, 2019 at 1:31 pm

Exactly. The writer seems determined to tie in neoliberalism with a broader conservative opposition to modern social justice movements, when in reality neoliberalism (the 'neo' part anyway) was more than happy to co-opt feminism, anti-racism, etc., into its narrative. The more the merrier, as 'rights' became associated entirely with social issues, and not economic rights.

Chip Otle , November 20, 2019 at 4:27 pm

This is the best comment of this thread so far.

NancyBoyd , November 21, 2019 at 1:48 pm

The co-optation neoliberalism has exacted on rights movements has dovetailed nicely with postmodernism's social-constructivism, an anti-materialist stance that posits discourse as shaping the world and one that therefore privileges subjectivity over material reality.

What this means in practice is that "identity" is now a marketplace too, in which individuals are naming their identities as a form of personal corporate branding. That's why we have people labeling themselves like this: demisexual queer femme, on the spectrum, saying hell no to my tradcath roots, into light BDSM, pronouns they/them.

And to prove this identity, the person must purchase various consumer products to garb and decorate themselves accordingly.

So the idea of civil rights has now become utterly consumerist and about awarding those rights based on subjective feelings rather than anything to do with actual material exploitation.

The clue is in the way the words "oppression" and "privilege" are used. Under those words, exploitation, discrimination, disadvantage, and simple dislike are conflated, though they're very different and involve very different remedies.

In this way, politics is drained of politics.

Carey , November 20, 2019 at 1:38 pm

+100 Thank you.

Joe Well , November 20, 2019 at 1:48 pm

The law in its majestic equality forbids the rich as well as the poor from sleeping under bridges and stealing bread = classical Liberalism.

The bizarre thing is to meet younger neoliberal middle class people whom neoliberalism has priced out of major cities, who have hardly any real savings, and who still are on board with the project. The dream dies hard.

Jerry B , November 20, 2019 at 4:21 pm

David – I enjoy reading your comments on NC as they are well reasoned and develop an argument or counter argument. The above comment reads more like a rant. I do not disagree with most of your comment. From my experience with Wendy Brown's writing your statement below is not off base.:

This reads like another clumsy attempt to dismiss actual popular anger against neoliberalism in favour of pearl-clutching progressive angst, by associating this anger with the latest target for liberal hate, in this case blah blah patriarchy blah blah

However, in reading Wendy Brown's comments I did not have the same emotional reaction that comes across in your comment. I have read the post twice to make sure I understand the points Wendy Brown is trying to make and IMO she is "not wrong" either. . I would advise you to not "throw out the baby with the bathwater".

As KLG mentions below, WB is a very successful academic at Berkeley who worked with Sheldon Wolin as a graduate student IIRC (Sheldon Wolin wrote a terrific book entitled Democracy Incorporated), so she is not just some random journalist.

Much of WB's writing has gender themes in it and there are times I think she goes over the top, BUT, IMO there is also some truth to what she is saying. Much of the political power and economic power in the US and the world is held by men so that may be where WB's reference to patriarchy comes in.

How could there be patriarchy with men begging in the streets is a valid point. And that is where I divert with WB, in that the term patriarchy paints with too broad a brush. But speaking specifically to neo-liberalism and not liberalism as you refer to it, that is where WB's reference to patriarchy may have some merit. Yes, there are many exceptions to the neoliberalism and patriarchy connection such as Hillary Clinton, Margaret Thatcher, etc., so again maybe painting with too broad a brush, but it would be wise not to give some value.

The sociologist Raewyn Connell has written about the connection between neoliberalism and version of a certain type of masculinity embedded with neoliberalism. Like Wendy Brown, Connell seems to gloss over the examples of Hillary Clinton, Margaret Thatcher, and the class based elite bourgeois feminism as counterpoints to neoliberal patriarchy. There are exceptions to every rule.
Women have made enormous strides in politics and the boardroom. But in the halls of political and economic power the majority of the power is still held by men, and until women become close to 50% or more of the seats of power, to ignore the influence of patriarchy/oligarch version of masculinity(or whatever term a person is comfortable with) on neoliberalism would be foolish.

Neoliberalism is simply a label for its economic views (that haven't changed much over the centuries) whereas social justice is the label for its social wing (ditto).

I disagree. IMO, neoliberalism is a different animal than the "traditional elite liberal democracy", and neoliberalism is much darker and as WB mentions "Neoliberalism thus aims to de-regulate the social sphere in a way that parallels the de-regulation of markets".

If you have not I would highly recommend reading Sheldon Wolin's Democracy Incorporated: Managed Democracy and the Specter of Inverted Totalitarianism It is an excellent book.

David , November 20, 2019 at 5:23 pm

I haven't read that book by Wolin, though his Politics and Vision is in the bookcase next to me. I'll try to get hold of it. I didn't know she was his student either.
I think the issues she raises about gender are a different question from neoliberalism itself, and that it's not helpful to believe that you can fight neoliberalism by "legitimating assertions of personal freedom against equality mandates" whatever that means. Likewise, it's misleading to suggest that "Privatization of the nation legitimates "nativist" exclusions", since the actual result is the opposite, as you will realise when you see that London buses have the same logo as the ones in Paris, and electricity in the UK is often supplied by a French company, EDF. Indeed, to the extent that there is a connection with "nativism" it is that privatisation has enabled an international network of distant and unaccountable private companies to take away management of national resources and assets from the people. Likewise, neoliberalism is entirely happy to trample over traditional gender roles in the name of efficiency and increasing the number of workers chasing the same job.
In other words, I was irritated (and sorry if I ranted a bit, I try not to) with what I saw as someone who already knows what the answer is, independent of what the question may be. I suspect her analysis of, say, Brexit, would be very similar. I think that kind of person is potentially dangerous.

Jerry B , November 20, 2019 at 6:58 pm

Thanks David.

==I think the issues she raises about gender are a different question from neoliberalism itself==

Again as I said in my comment I would agree in a theoretical sense that gender and neoliberalism are different issues but again I believe there is a thread of gender, i.e. oligarchic patriarchy, of the type of neoliberalism that WB talks about.

===not helpful to believe that you can fight neoliberalism by "legitimating assertions of personal freedom against equality mandates" whatever that means===

What I think that means is the more libertarian version of neoliberalism. That maybe where our differences lie, in that my sense is WB is talking about a specific form of neoliberalism and your view is broader.

===it's misleading to suggest that "Privatization of the nation legitimates "nativist" exclusions"===

On this I see your disagreement with WB and understand your reference to "that privatisation has enabled an international network of distant and unaccountable private companies to take away management of national resources and assets from the people".

Where I think WB is coming from is the more nationalistic, Anglosphere that the Trump administration is pushing with his border wall, etc. In this WB does expose her far left priors but again there is some value in her points. From her far left view my sense it Wendy Brown is reacting to the sense that Trump wants to turn the US into the US of the 1950's and 60's and on many fronts that ship has sailed.

=== Indeed, to the extent that there is a connection with "nativism" it is that privatisation has enabled an international network of distant and unaccountable private companies to take away management of national resources and assets from the people. Likewise, neoliberalism is entirely happy to trample over traditional gender roles in the name of efficiency and increasing the number of workers chasing the same job. ===

Excellent point and having read some of Wendy Brown's books and paper is a point she would agree with while still seeing some patriarchial themes running through neoliberalism. To your point above I would recommend reading some of Cynthia Enloe's work specifically Bananas, Beaches and Bases.

https://en.wikipedia.org/wiki/Cynthia_Enloe

https://en.wikipedia.org/wiki/Cynthia_Enloe#Bananas,_Beaches,_and_Bases

====I think that kind of person is potentially dangerous====

Wow. Dangerous??? Clearly the post has hit a nerve. Many people in our current society are dangerous but IMO Wendy Brown is not one of them. A bit hyperbolic in her focus on gender? Maybe but not wrong. A bit too far left (of the bleeding heart kind)? Maybe. But to call someone who worked for Sheldon Wolin dangerous. C'mon man.

I have gotten into disputes on NC as IMO many people over focus on a word or the use of a word and ascribe way to literal view of a word. I tend to view words more symbolically and contextually. I do not overreact to the use a word and instead try to step back and glean a message or the word in context of what is the person trying to say? So for instance when WB uses the phrase "Privatization of the nation" I am not going to react because my own interpretation is WB is reacting to Trump's nationalism and not to the type of privatization that your example of London shows.

I am disappointed that most of the comments to this post seem to take a critical view of Wendy Brown's comments. Is she a bit too far left and gender focused (identity political) for my tastes? Yes and that somewhat hurts her overall message and the arguments she is trying to discuss which are not unlike her mentor Sheldon Wolin.

Thanks for the reply David. My sense is we have what I call a "positional" debate (i.e. Tastes Great! Less Filling!). And positional debates tend to go nowhere.

Nancy Boyd , November 21, 2019 at 2:22 pm

When WB speaks of gender, note that she then mentions sex, followed by race. By "gender" she is NOT talking about the rights and power of female people under neoliberalism.

She is speaking of the rights of people to claim, that they are the opposite sex and therefore entitled to the rights, set-asides and affirmative discrimination permitted that sex -- for instance, to compete athletically on that sex's sports teams, to be imprisoned if convicted in that sex's prisons, to be considered that sex in instances where sex matters in employment such as a job as a rape counselor or a health care position performing intimate exams where one is entitled to request a same-sex provider, and to apply for scholarships, awards, business loans etc. set aside for that sex.

WB, in addition to being a professor at Berkeley, is also the partner of Judith Butler, whose book "Gender Trouble" essentially launched the postmodern idea that subjective sense of one's sex and how one enacts that is more meaningful than the lived reality people experience in biologically sexed bodies.

By this reasoning, a male weightlifter can become a woman, can declare that he's in fact always been a woman -- and so we arrive at the farce of a male weightlifter (who, granted, must under IOC policy reduce his testosterone for one year to a low-normal male range that is 5 standard deviations away from the female mean) winning a gold medal in women's weightlifting in the Pan-Pacific games and likely to win gold again in the 2020 Olympics.

If that's not privileging individual freedom over collective rights, I don't know what is.

Vegetius , November 20, 2019 at 6:03 pm

>That's how it is possible to be simultaneously libertarian, ethnonationalist and patriarchal today: The right's contemporary attack on "social justice warriors" is straight out of Hayek.

Anyone who could write such a statement understands neither libertarianism nor ethnonationalism. The last half-decade has seen a constant intellectual attack by ethnonationalists against libertarianism. An hour's examination of the now-defunct Alt Right's would confirm this.

Similarly, the contemporary attack on SJW's comes not out of Hayek, but from Gamergate. If you do not know what Gamergate is, you do not understand where the current rightwing and not-so-rightwing thrust of contemporary white identity politics is coming from. My guess is Brown has never heard of it.

Far from trying to uphold patriarchy, Contemporary neoliberalism seeks a total atomization of society into nothing but individual consumers of product. Thus what passes for liberalization of a society today consists in little more than staging sham elections, opening McDonalds, and holding a gay pride parade.

This is why ethnonationalism and even simple nationalism poses a mortal threat to neoliberalism, in a way that so-called progressives never will: both are a threat to globalization, while the rainbow left has shown itself to be little more than the useful idiots of capital.

Brown strikes me as someone who has a worldview and will distort the world to fit that view, no matter how this jibes with facts or logic. The point is simply to array her bugbears into a coalition, regardless of how ridiculous it seems to anyone who knows anything about it.

KLG , November 20, 2019 at 1:43 pm

Actually, maybe not "Bingo," if by that you mean Wendy Brown is a typical representative of "pearl clutching progressive angst." Yes, WB is a very successful academic at Berkeley who worked with Sheldon Wolin as a graduate student IIRC (who was atypical in just about every important way), but this book along with its predecessor Undoing the Demos are much stronger than the normative "why are the natives so restless?" bullshit coming from my erstwhile tribe of "liberals," most of whom are incapacitated by a not unrelated case of Trump Derangement Syndrome.

Susan the Other , November 20, 2019 at 1:55 pm

Hayek was eloquent. Too bad he didn't establish some end goals. Think of all the misery that would have been avoided. I mean, how can you rationalize some economic ideology to "deregulate the social sphere" – that's just the snake eating its tail. That's what people do who don't have boundaries. Right now it looks like there's a strange bedfellowship, a threesome of neoliberal nazis, globalists, and old communists. Everybody and their dog wants the world to work – for everyone. But nobody knows how to do it. And we are experiencing multiple degrees of freedom to express our own personal version of Stockholm syndrome. Because identity politics. What a joke. Maybe we need to come together over something rational. Something fairly real. Instead of overturning Citizens United (which is absurd already), we should do Creatures United – rights for actual living things on this planet. And then we'd have a cause for the duration.

Sol , November 20, 2019 at 3:55 pm

Well stated. The -isms seem like distractions, almost red herrings leading us down the primrose path to a ceaseless is/ought problem. Rather than discuss the way the world is, we argue how it ought to be.

Not to say theory, study, and introspection aren't important. More that we appear paralyzed into inaction since everyone doesn't agree on the One True Way yet.

JBird4049 , November 21, 2019 at 12:26 am

Let us not get to simplistic here. It helps to understand the origins of political, economic, and even social ideals. The origin of modern capitalism, for there were different and more limited earlier forms, was in the Dutch Republic and was part of the efforts of removing and replacing feudalism; liberalism arose from the Enlightenment, which itself was partly the creation of the Wars of Religion, which devastated Europe. The Thirty Years War, which killed ½ of the male population of the Germanies, and is considered more devastating to the Germans than both world wars combined had much of its energy from religious disagreements.

The Age of Enlightenment, along with much of political thought in the Eighteenth Century, was a attempt to allow differences in belief, and the often violent passions that they can cause, to be fought by words instead of murder. The American Constitution, the Bill of Rights, the whole political worldview, that most Americans unconsciously have, comes from from those those times.

Democracy, Liberalism, even Adam Smith's work in the Wealth of Nations were attempts to escape the dictatorship of kings, feudalism, serfdom, violence. Unfortunately, they have all been usurped. Adam Smith's life's work has been perverted, liberalism has been used to weaken the social bonds by making work and money central to society. Their evil child Neoliberalism, a creation of people like Hayek, was supposed to reduce wars (most of the founders were survivors of the world wars) and was supposed to be be partly antidemocratic.

Modern Neoliberalism mutates and combines the partly inadvertent atomizing effects of the ideas of the Enlightenment, Liberalism, Dutch and British Capitalism, the Free Markets of Adam Smith, adds earlier mid twentieth century Neoliberalism as a fuel additive, and creates this twisted flaming Napalm of social atomizing; it also clears out any challenges to money is the worth of all things. Forget philosophy, religion, family, government, society. Money determines worth. Even speech is only worth the money spent on it and not any inherent worth. Or the vote.

Susan the Other , November 21, 2019 at 10:34 am

"the twisted flaming napalm of social atomizing" – that's a keeper.

Math is Your Friend , November 21, 2019 at 1:38 pm

"liberalism has been used to weaken the social bonds by making work and money central to society"

I think you may have swapped the cart and the horse.

Money evolved as a way of aiding and organizing useful interactions within groups larger than isolated villages of a hundred people.

It also enabled an overall increase in wealth through specialization.

Were it not for money, there would be a difficult mismatch between goods of vastly differing value. A farmer growing wheat and carrots has an almost completely divisible supply of goods with which to trade. Someone building a farm wagon a month, or making an iron plough every two weeks has a problem exchanging that for items orders of magnitude less valuable.

Specialization is a vital step in improving resources and capabilities within societies. I've hung out with enough friends who are blacksmiths to know that every farmer hammering out their own plough is a non-starter, for many reasons.

And I've followed enough history to know that iron ploughs mean a lot more food, which allows someone to specialize in making ploughs rather than growing food for personal consumption.

The obvious need is for a way of dividing the value of the plough into many smaller amounts that can be used to obtain grain, cloth, pottery, and so on.

While the exact form of money is not rigidly fixed, at lower technological levels one really needs something that is portable, doesn't spontaneously self destruct, and has a clearly definable value . and exists in different concentrations of worth, to allow flexibility in transport and use.

Various societies have come up with various tokens of value, from agricultural products to bank drafts, each with different advantages and disadvantages, but for most of history, precious metals, base metals, and coinage have been the most practical representation of exchangeable value.

Money is almost certainly an inevitable and necessary consequence of the invention of agriculture, and the corresponding increase in population density.

David , November 21, 2019 at 2:00 pm

Agreed, but as I've suggested elsewhere liberalism always had the capacity within it to destroy social bonds, societies and even nations, it's just that, at the time, this was hidden behind the belief that a just God would not allow it to happen. I see liberalism less as mutating or being usurped than finally being freed of controls. Paradoxically, of course, this "freedom" requires servitude for others, so that no outside forces (trades unions for example) can pollute the purity of the market. It's the same thing with social justice: freedom for identity group comes through legal controls over the behaviour of others, which is why the contemporary definition of a civil rights activist is someone who wants to introduce lots of new laws to prevent people from doing things.

shinola , November 20, 2019 at 2:07 pm

Neoliberalism is just a new label for an old (and, supposedly, discredited) social theory. It used to be called Social Darwinism.

salvo , November 20, 2019 at 2:43 pm

frankly, I don't believe the "monsters" neoliberalism has helped create are an unwanted side effect of their approach, on the contrary, neoliberalism needs those "monsters", like the authoritarian state, to impose itself on society (ask the mutilated gilets jaunes). Repression, inequality, poverty, abuse, dispossession, disfranchisement, enviromental degradation are certainly "monstrous" to those who have to endure them, but not to those who profit the most from the system and sit on the most powerful positions. Of course, the degree of exposure to those monstrosities is dependent on the relative position in the pyramid shaped neoliberal society, the bottom has to endure the most. On the other side, the middle classes tend to support the neoliberal model as long as it ensures them a power position relative to the under classes, and the moment those middle classes feel ttheir position relative to the under classes threatened, the switch to open fascism is not far, we can see this in Bolivia.

Carey , November 20, 2019 at 3:18 pm

Thanks for this comment.

eg , November 20, 2019 at 4:41 pm

"neoliberalism needs those "monsters", like the authoritarian state, to impose itself on society"

If I understood Quinn Slobodian's "Globalists" correctly it was precisely this -- that the neoliberal project while professing that markets were somehow "natural" spent an inordinate amount of time working to ensure that legal structures be created to insulate them from the dirty demos.

Their actions in this respect don't square with a serious belief that markets are natural at all -- if they were, they wouldn't need so damned much hothousing, right?

KLG , November 20, 2019 at 5:28 pm

Exactly!

David , November 20, 2019 at 5:30 pm

I think the argument was that markets were "natural", but vulnerable to interference, and so had to be protected by these legal structures. There's a metaphor there, but it's too late here for me to find it.

Jerry B , November 20, 2019 at 7:08 pm

Thanks eg!

===spent an inordinate amount of time working to ensure that legal structures be created to insulate them from the dirty demos===

I enjoyed Slobodian's book as well. Interestingly, there is a new book out called The Code of Capital: How the Law Creates Wealth and Inequality by Katharina Pistor that discusses those "legal structures".

https://www.amazon.com/Code-Capital-Creates-Wealth-Inequality/dp/0691178976

deplorado , November 20, 2019 at 8:36 pm

If you check out Katharina Pistor on Twitter, you can also find good commentaries and even videos of talks discussing the book and the matter – it is very edifying to open your eyes to the fundamental role of law in creating such natural phenomena as markets and, among other things, billionaires.

Jerry B , November 20, 2019 at 9:58 pm

Thanks deplorado. I do not frequent Pistor's twitter page as much as I would like.

In reading Pistor's book and some of the interviews with Pistor and some of her papers discussing the themes in the book, I had the same reaction as when I read some of Susan Strange's books such as The Retreat of the State: complete removal of any strand of naïveté I may have had as to how the world works. And how hard it will be to undo the destruction.

As you mention the "dirty demos" above, one of Wendy Brown's recent books was Undoing the Demos: Neoliberalism's Stealth Revolution.

JCC , November 21, 2019 at 9:47 am

Never having read any of Susan Strange's writings, I decided to find a book review of The Retreat of the State. I found this one and found it very interesting, enough so that I'll go to abebooks.com and get a copy to read.

https://www.academia.edu/6452889/The_Retreat_of_the_State_A_Book_Review

Thank You for the recommendation.

Paul O , November 21, 2019 at 4:57 am

Thank you for this recommendation. Anything that comes as an audiobook is a massive plus for me.

flora , November 20, 2019 at 6:11 pm

Academics promoting neoliberalim: so many false assumptions (or self-exculpating excuses), so little time.

The Rev Kev , November 20, 2019 at 7:13 pm

Hmm. Definitely Monsters from the Id at work here. I am going with the theory that the wealthier class pushed this whole project all along. In the US, Roosevelt had cracked down and imposed regulations that stopped, for example, the stock market from being turned into a casino using ordinary people's saving. He also pushed taxes on them that exceeded 90% which tended to help keep them defanged.
So lo and behold, after casting about, a bunch of isolated rat-bag economic radicals was found that support getting rid of regulations, reducing taxes on the wealthy and anything else that they wanted to do. So money was pumped into this project, think tanks were taken over or built up, universities were taken over to teach this new theories, lawyers and future judges were 'educated' to support their fight and that is what we have today.
If WW2 had not discredited fascism, the wealthy would have use this instead as both Mussolini and Hitler were very friendly to the wealthy industrialists. But they were so instead they turned to neoliberalism instead. Yes, definitely Monsters from the Id.

Sound of the Suburbs , November 21, 2019 at 3:23 am

William White (BIS, OECD) talks about how economics really changed over one hundred years ago as classical economics was replaced by neoclassical economics.
https://www.youtube.com/watch?v=g6iXBQ33pBo&t=2485s
He thinks we have been on the wrong path for one hundred years.
This is why we think small state, unregulated capitalism is something it never was when it existed before.

We don't understand the monetary system or how banks work because:
Our knowledge of privately created money has been going backwards since 1856.
Credit creation theory -> fractional reserve theory -> financial intermediation theory
"A lost century in economics: Three theories of banking and the conclusive evidence" Richard A. Werner
http://www.sciencedirect.com/science/article/pii/S1057521915001477
This is why we come up with crazy ideas like "financial liberalisation".

Steve Ruis , November 21, 2019 at 8:11 am

If corporations are to be people, then they, like the extremely wealthy, need to be reined in politically. One step we could take is to only allow money donations to political campaigns to take place when the person is subject or going to be subject to the politicians decisions. I live in Illinois, I should be able to donate money to the campaigns of those running for the U.S> Senate from Illinois, but Utah? If I donate money to a Utah candidate for the Senate, I am practicing influence peddling because that Senator does not represent me.

If corporations are to be people, they need a primary residence. The location of their corporate headquarters should suffice to "place" them, and donations to candidates outside of their set of districts would be forbidden.

Of course, we do have free speech, so people are completely free to speak over the Internet, TV, hire halls in the district involved and go speak in person. They just couldn't pay to have someone else do that for them.

To allow unfettered political donations violates the one ma, one vote principle and also encourages influence peddling. In fact, it seems as if our Congress and Executive operates only through influence peddling.

[Nov 14, 2019] Neoliberalism Paved the Way for Authoritarian Right-Wing Populism by Henry A. Giroux

Highly recommended!
Notable quotes:
"... Neoliberalism became an incubator for a growing authoritarian populism fed largely by economic inequality. ..."
"... This apocalyptic populism was rooted in a profound discontent for the empty promises of a neoliberal ideology that made capitalism and democracy synonymous, and markets the model for all social relations. In addition, the Democratic proponents of neoliberalism, such as Bill Clinton and Barack Obama, participated in the dismantling of the social contract, widening economic inequality, and burgeoning landscapes of joblessness, misery, anger and despair. ..."
"... Liberal democracies across the globe appeared out of touch with not only the misery and suffering caused by neoliberal policies, they also produced an insular and arrogant group of politicians who regarded themselves as an enlightened political formation that worked " on behalf of an ignorant public ." ..."
"... As a regime of affective management, neoliberalism created a culture in which everyone was trapped in his or her own feelings, emotions and orbits of privatization. One consequence was that legitimate political claims could only be pursued by individuals and families rather than social groups. ..."
Sep 26, 2019 | truthout.org

Part of the Series The Public Intellectual

Talk of a looming recession is heating up as the global economy slows and President Trump's tiff with China unsettles financial markets. As world trade contracts, stock markets drop, the manufacturing sector in the United States is in decline for the first time in a decade , and farmers and steel workers continue losing their income and jobs.

Rumors of a coming recession accentuate fears about the further deterioration of conditions faced by workers and the poor, who are already suffering from precarious employment, poverty, lack of meaningful work and dwindling pensions. A global economic slump would make living standards for the poor even worse. As Ashley Smith points out , levels of impoverishment in the United States are already shocking, with "four out of every ten families [struggling] to meet the costs of food, housing, health care, and utilities every month."

Just as the 2008 global economic crisis revealed the failures of liberal democracy and the scourge of neoliberalism, a new economic recession in 2019 could also reveal how institutions meant to serve the public interest and offer support for a progressive politics now serve authoritarian ideologies and a ruling elite that views democracy as the enemy of market-based freedoms and white nationalism.

What has not been learned from the 2008 crisis is that an economic crisis neither unites those most affected in favor of a progressive politics nor does it offer any political guarantees regarding the direction of social change. Instead, the emotions that fueled massive public anger toward elites and globalization gave rise to the celebration of populist demagogues and a right-wing tsunami of misdirected anger, hate and violence toward undocumented immigrants, refugees, Muslims and people of color.

The 2008 financial crisis wreaked havoc in multiple ways. Yet there was another crisis that received little attention: a crisis of agency. This crisis centered around matters of identity, self-determination and collective resistance, which were undermined in profound ways, giving rise to and legitimating the emergence of authoritarian populist movements in many parts of the world, such as United States, Hungary, Poland and Brazil.

At the heart of this shift was the declining belief in the legitimacy of both liberal democracy and its pledges about trickle-down wealth, economic security and broadening equal opportunities preached by the apostles of neoliberalism. In many ways, public faith in the welfare state, quality employment opportunities, institutional possibilities and a secure future for each generation collapsed. In part, this was a consequence of the post-war economic boom giving way to massive degrees of inequality, the off-shoring of wealth and power, the enactment of cruel austerity measures, an expanding regime of precarity, and a cut-throat economic and social environment in which individual interests and needs prevailed over any consideration of the common good. As liberalism aligned itself with corporate and political power, both the Democratic and Republican Parties embraced financial reforms that increased the wealth of the bankers and corporate elite while doing nothing to prevent people from losing their homes, being strapped with chronic debt, seeing their pensions disappear, and facing a future of uncertainty and no long-term prospects or guarantees.

Neoliberalism became an incubator for a growing authoritarian populism fed largely by economic inequality.

In an age of economic anxiety, existential insecurity and a growing culture of fear, liberalism's overheated emphasis on individual liberties "made human beings subordinate to the market, replacing social bonds with market relations and sanctifying greed," as noted by Pankaj Mishra. In this instance, neoliberalism became an incubator for a growing authoritarian populism fed largely by economic inequality. The latter was the outcome of a growing cultural and political polarization that made "it possible for haters to come out from the margins, form larger groups and make political trouble." This toxic polarization and surge of right-wing populism produced by casino capitalism was accentuated with the growth of fascist groups that shared a skepticism of international organizations, supported a militant right-wing nationalism, and championed a surge of anti-immigrant, anti-Muslim and anti-democratic values.

This apocalyptic populism was rooted in a profound discontent for the empty promises of a neoliberal ideology that made capitalism and democracy synonymous, and markets the model for all social relations. In addition, the Democratic proponents of neoliberalism, such as Bill Clinton and Barack Obama, participated in the dismantling of the social contract, widening economic inequality, and burgeoning landscapes of joblessness, misery, anger and despair.

At the same time, they enacted policies that dismantled civic culture and undermined a wide range of democratic institutions that extended from the media to public goods such as public and higher education. Under such circumstances, democratic narratives, values and modes of solidarity, which traded in shared responsibilities and shared hopes, were replaced by a market-based focus on a regressive notion of hyper-individualism, ego-centered values and a view of individual responsibility that eviscerated any broader notion of social, systemic, and corporate problems and accountability.

Ways of imagining society through a collective ethos became fractured, and a comprehensive understanding of politics as inclusive and participatory morphed into an anti-politics marked by an investment in the language of individual rights, individual choice and the power of rights-bearing individuals.

Under the reign of neoliberalism, language became thinner and more individualistic, detached from history and more self-oriented, all the while undermining viable democratic social spheres as spaces where politics bring people together as collective agents and critically engaged citizens. Neoliberal language is written in the discourse of economics and market values, not ethics. Under such circumstances, shallowness becomes an asset rather than a liability. Increasingly, the watered-down language of liberal democracy, with its over-emphasis on individual rights and its neoliberal coddling of the financial elite, gave way to a regressive notion of the social marked by rising authoritarian tendencies, unchecked nativism, unapologetic expressions of bigotry, misdirected anger and the language of resentment-filled revolt. Liberal democracies across the globe appeared out of touch with not only the misery and suffering caused by neoliberal policies, they also produced an insular and arrogant group of politicians who regarded themselves as an enlightened political formation that worked " on behalf of an ignorant public ."

The ultimate consequence was to produce later what Wolfgang Merkel describes as "a rebellion of the disenfranchised." A series of political uprisings made it clear that neoliberalism was suffering from a crisis of legitimacy further accentuated by the Brexit vote in the United Kingdom, the election of Donald Trump, support for the National Rally ( formerly known as the National Front ) in France, and the emergence of powerful right-wing populist movements across the globe.

What has been vastly underestimated in the rise of right-wing populism is the capture of the media by authoritarian populists.

As a regime of affective management, neoliberalism created a culture in which everyone was trapped in his or her own feelings, emotions and orbits of privatization. One consequence was that legitimate political claims could only be pursued by individuals and families rather than social groups. In this instance, power was removed from the social sphere and placed almost entirely in the hands of corporate and political demagogues who used it to enrich themselves for their own personal gain.

Power was now used to produce muscular authority in order "to secure order, boundaries, and to divert the growing anger of a declining middle and working-class," Wendy Brown observes . Both classes increasingly came to blame their economic and political conditions that produced their misery and ravaged ways of life on "'others': immigrants, minority races, 'external' predators and attackers ranging from terrorists to refugees." Liberal-individualistic views lost their legitimacy as they refused to indict the underlying structures of capitalism and its winner-take-all ethos.

Functioning largely as a ruthless form of social Darwinism, economic activity was removed from a concern with social costs, and replaced by a culture of cruelty and resentment that disdained any notion of compassion or ethical concern for those deemed as "other" because of their class, race, ethnicity, sexual orientation and religion. This is a culture marked by gigantic hypocrisies, "the gloomy tabulation of unspeakable violent events," widespread viciousness, "great concentrations of wealth," "surveillance overkill," and the "unceasing despoliation of biospheres for profit."

George Monbiot sums up well some of the more toxic elements of neoliberalism, which remained largely hidden since it was in the mainstream press less as an ideology than as an economic policy. He writes :

Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that "the market" delivers benefits that could never be achieved by planning. Attempts to limit competition are treated as inimical to liberty. Tax and regulation should be minimized, public services should be privatized. The organization of labor and collective bargaining by trade unions are portrayed as market distortions that impede the formation of a natural hierarchy of winners and losers. Inequality is recast as virtuous: a reward for utility and a generator of wealth, which trickles down to enrich everyone. Efforts to create a more equal society are both counterproductive and morally corrosive. The market ensures that everyone gets what they deserve.

In the neoliberal worldview, those who are unemployed, poor consumers or outside of the reach of a market in search of insatiable profits are considered disposable. Increasingly more people were viewed as anti-human, unknowable, faceless and symbols of fear and pathology. This included undocumented immigrants in the United States and refugees in Europe, as well as those who were considered of no value to a market society, and thus eligible to be deprived of the most basic rights and subject to the terror of state violence.

Marking selected groups as disposable in both symbolic and material forms, the neoliberal politics of disposability became a machinery of political and social death -- producing spaces where undesirable members are abused, put in cages , separated from their children and subject to a massive violation of their human rights. Under a neoliberal politics of disposability, people live in spaces of ever-present danger and risk where nothing is certain; human beings considered excess are denied a social function and relegated to what Étienne Balibar calls the "death zones of humanity." These are the 21st century workstations designed for the creation and process of elimination; a death-haunted mode of production rooted in the "absolute triumph of irrationality."

Economic and cultural nationalism has become a rallying cry to create the conditions for merging a regressive neoliberalism and populism into a war machine.

Within this new political formation, older forms of exploitation are now matched, if not exceeded, by a politics of racial and social cleansing, as entire populations are removed from ethical assessments, producing zones of social abandonment. In this new world, there is a merging of finance capital and a war culture that speaks to a moral and political collapse in which the welfare state is replaced by forms of economic nationalism and a burgeoning carceral state .

Furthermore, elements of this crisis can be seen in the ongoing militarization of everyday life as more and more institutions take on the model of the prison. Additionally, there is also the increased arming of the police, the criminalization of a wide range of behaviors related to social problems, the rise of the surveillance state, and the ongoing war on youth, undocumented immigrants, Muslims and others deemed enemies of the state.

Under the aegis of a neoliberal war culture, we have witnessed increasing immiseration for the working and middle classes, massive tax cuts for the rich, the outsourcing of public services, a full-fledged attack on unions, the defunding of public goods, and the privatization of public services extending from health and education to roads and prisons. This ongoing transfer of public resources and services to the rich, hedge fund managers, and corporate elite was matched by the corporate takeover of the commanding institutions of culture, including the digital, print and broadcast media. What has been vastly underestimated in the rise of right-wing populism is the capture of the media by authoritarian populists and its flip side, which amounts to a full-fledged political attack on independent digital, online and oppositional journalists.

While it is generally acknowledged that neoliberalism was responsible for the worldwide economic crisis of 2008, what is less acknowledged is that structural crisis produced by a capitalism on steroids was not matched by subjective crisis and consequently gave rise to new reactionary political populist movements. As economic collapse became visceral, people's lives were upended and sometimes destroyed. Moreover, as the social contract was shredded along with the need for socially constructed roles, norms and public goods, the "social" no longer occupied a thick and important pedagogical space of solidarity, dialogue, political expression, dissent and politics.

As public spheres disappeared, communal bonds were weakened and social provisions withered. Under neoliberalism, the social sphere regresses into a privatized society of consumers in which individuals are atomized, alienated, and increasingly removed from the variety of social connections and communal bonds that give meaning to the degree to which societies are good and just.

Establishment politics lost its legitimacy, as voters rejected the conditions produced by financialized capitalism.

People became isolated, segregated and unable " to negotiate democratic dilemmas in a democratic way " as power became more abstract and removed from public participation and accountability. As the neoliberal net of privilege was cast wider without apology for the rich and exclusion of others, it became more obvious to growing elements of the public that appeals to liberal democracy had failed to keep its promise of a better life for all. It could no longer demand, without qualification, that working people should work harder for less, and that democratic participation is exclusively about elections. What could not be hidden from many disenfranchised groups was that ruling elites produced what Adam Tooze describes as "a disastrous slide from the hypocrisies and compromises of the previous status quo into something even [more dangerous]."

As the global crisis has intensified since 2008, elements of a political and moral collapse at the heart of an authoritarian society are more obvious and find their most transparent expression of ruthlessness, greed and unchecked power in the rule of Donald Trump. As Chris Hedges points out :

The ruling corporate elites no longer seek to build. They seek to destroy. They are agents of death. They crave the unimpeded power to cannibalize the country and pollute and degrade the ecosystem to feed an insatiable lust for wealth, power and hedonism. Wars and military "virtues" are celebrated. Intelligence, empathy and the common good are banished. Culture is degraded to patriotic kitsch . Those branded as unproductive or redundant are discarded and left to struggle in poverty or locked away in cages.

The slide into authoritarianism was made all the easier by the absence of a broad-based left mass movement in the United States, which failed to provide both a comprehensive vision of change and an alignment of single-issue groups and smaller movements into one mass movement. Nancy Fraser rightly observes that following Occupy, "potential links between labour and new social movements were left to languish. Split off from one another, those indispensable poles of a viable left were miles apart, waiting to be counterposed as antithetical."

Since the 1970s, there has been a profound backlash by economic, financial, political and religious fundamentalists and their allied media establishments against labor, an oppositional press, people of color and others who have attempted to extend the workings of democracy and equality.

As the narrative of class and class struggle disappeared along with the absence of a vibrant socialist movement, the call for democracy no longer provided a unifying narrative to bring different oppressed groups together. Instead, economic and cultural nationalism has become a rallying cry to create the conditions for merging a regressive neoliberalism and populism into a war machine. Under such circumstances, politics is imagined as a form of war, repelling immigrants and refugees who are described by President Trump as "invaders," "vermin" and "rapists." The emergence of neoliberalism as a war machine is evident in the current status of the Republican Party and the Trump administration, which wage assaults on anything that does not mimic the values of the market. Such assaults take the form of fixing whole categories of people as disposable, as enemies, and force them into conditions of extreme precarity -- and in increasingly more instances, conditions of danger. Neoliberal capitalism radiates violence, evident in its endless instances of mass shooting, such as those that took place most recently in El Paso, Texas, and Dayton, Ohio. This should not be surprising for a society that measures power by the speed that it removes itself from any sense of ethical and social responsibility. As Beatrix Campbell puts it ,

The richest society on the planet is armed. And it invests in one of the largest prison systems in the world. Violence circulates between state and citizen. Drilled to kill, doomed to die: mastery and martyrdom is the heartbreaking dialectic of the manufacture of militarized, violent masculinity . The making and maintaining of militarised masculinities is vital to these new modes of armed conflict that are proliferating across the flexible frontiers of globalized capitalism, between and within states.

What has become clear is that the neoliberal agenda has been a spectacular failure . Moreover, it has mobilized on a global level the violent political, social, racial and economic energies of a resurgent fascist politics. Across the globe, right-wing modes of governance are appearing in which the line collapses between "outside foreign enemies" such as refugees and undocumented immigrants, on the one hand, and on the other, inside "dangerous" or "treasonous" classes such as critical journalists, educators and dissidents.

As neoliberal economies increasingly resort to violence and repression, fear replaces any sense of shared responsibilities, as violence is not only elevated to an organizing principle of society, but also expands a network of extreme cruelty. Imagining politics as a war machine, more and more groups are treated as excess and inscribed in an order of power as disposable, enemies, and [forced] into conditions of extreme precarity. This is a particularly vicious form of state violence that undermines and constrains agency, and subjects individuals to zones of abandonment, as evident in the growth of immigrant jails and an expanding carceral complex in the United States and other countries, such as Hungary.

As neoliberalism's promise of social mobility and expanding economic progress collapsed, it gave way to an authoritarian right-wing populism looking for narratives on which to pin the hatred of governing elites who, as Paul Mason notes , "capped health and welfare spending, [imposed] punitive benefit withdraws [that] forced many families to rely on food banks [and] withdraw sickness and disability benefits from one million former workers below retirement age."

Across the globe, a series of uprisings have appeared that signal new political formations that rejected the notion that there was no alternative to neoliberal hegemony. This was evident not only with the election of Donald Trump and the Brexit vote in the United Kingdom, but also with the election of Jair Bolsonaro in Brazil and support for popular movements such as the National Rally in France. Establishment politics lost its legitimacy, as voters rejected the conditions produced by financialized capitalism.

In the United States, both major political parties were more than willing to turn the economy over to the bankers and hedge fund managers while producing policies that shaped radical forms of industrial and social restructuring, all of which caused massive pain, suffering and rage among large segments of the working class and other disenfranchised groups. Right-wing populist leaders across the globe recognized that national economies were in the hands of foreign investors, a mobile financial elite and transnational capital. In a masterful act of political diversion, populist leaders attacked all vestiges of liberal capitalism while refusing to name neoliberal inequities in wealth and power as a basic threat to their societies. Instead of calling for an acceleration of the democratic ideals of popular sovereignty and equality, right-wing populist leaders, such as Trump, Bolsonaro and Hungary's Viktor Orbán defined democracy as the enemy of those who wish for unaccountable power. They also diverted genuine popular anger into the abyss of cultural chauvinism, anti-immigrant hatred, a contempt of Muslims and a targeted attack on the environment, health care, education, public institutions, social provisions and other basic life resources. As Arjun Appadurai observes , such authoritarian leaders hate democracy, capture the political emotions of those treated as disposable, and do everything they can to hide the deep contradictions of neoliberal capitalism.

In this scenario, we have the resurgence of a fascist politics that capitalizes on the immiseration, fears and anxieties produced by neoliberalism without naming the underlying conditions that create and legitimate its policies and social costs. While such populists comment on certain elements of neoliberalism such as globalization, they largely embrace those ideological and economic elements that concentrate power and wealth in the hands of a political, corporate and financial elite, thus reinforcing in the end an extreme form of capitalism. Moreover, right-wing populists may condemn globalization, but they do so by blaming those considered outside the inclusive boundaries of a white homeland even though the same forces victimize them . At the same time, such leaders mobilize passions that deny critical understanding while simultaneously creating desires and affects that produce toxic and hypermasculine forms of identification.

Authoritarian leaders hate democracy and do everything they can to hide the deep contradictions of neoliberal capitalism.

In this instance, an oppressive form of education becomes central to politics and is used as a tool of power in the struggle over power, agency and politics. What is at stake here is not simply a struggle between authoritarian ideas and democratic ideals, but also a fierce battle on the part of demagogues to destroy the institutions and conditions that make critical thought and oppositional accounts of power possible. This is evident, for example, in Trump's constant attack on the critical media, often referring to them as "'the enemy of the people' pushing 'Radical Left Democrat views,'" even as journalists are subject to expulsion, mass jailing and assassination across the world by some of Trump's allies.

Waging war on democracy and the institutions that produce it, neoliberalism has tapped into a combination of fear and cathartic cruelty that has once again unleashed the mobilizing passions of fascism, especially the historically distinct registers of extreme nationalism, nativism, white supremacy, racial and ethnic cleansing, voter suppression, and an attack on a civic culture of critique and resistance. The result is a new political formation that I have called neoliberal fascism, in which the principles and practices of a fascist past and neoliberal present have merged, connecting the worst dimensions and excesses of gangster capitalism with the fascist ideals of white nationalism and racial supremacy associated with the horrors of a fascist past.

Neoliberal fascism hollows out democracy from within, breaks down the separation of power while increasing the power of the presidency, and saturates cultural and social life with its ideology of self-interest, a survival-of-the-fittest ethos, and regressive notions of freedom and individual responsibility.

What needs to be acknowledged is that neoliberalism as an extreme form of capitalism has produced the conditions for a fascist politics that is updated to serve the interest of a concentrated class of financial elite and a rising tide of political demagogues across the globe.

The mass anger fueling neoliberal fascism is a diversion of genuine resistance into what amounts to a pathology, which empties politics of any substance. This is evident also in its support of a right-wing populism and its focus on the immigrants and refugees as "dangerous outsiders," which serves to eliminate class politics and camouflage its own authoritarian ruling class interests and relentless attacks on social welfare.

A new economic slump would further fuel forces of repression and strengthen the forces of white supremacy.

In the face of a looming global recession, it is crucial to understand the connection between the rise of right-wing populism and neoliberalism, which emerged in the late 1970s as a commanding ideology fueling a punitive form of globalization. This historical moment is marked by unique ideological, economic and political formations produced by ever-increasing brutal forms of capitalism, however diverse.

Governing economic and political thinking everywhere, neoliberalism's unprecedented concentration of economic and political power has produced a toxic state modeled after the models of finance and unchecked market forces. It has also produced a profound shift in human consciousness, agency and modes of identification. The consequences have become familiar and include cruel austerity measures, adulation of self-regulating markets, the liberating of capital from any constraints, deregulation, privatization of public goods, the commodification of everyday life and the gutting of environmental, health and safety laws. It has also paved the way for a merging of extreme market principles and the sordid and mushrooming elements of white supremacy, racial cleansing and ultranationalism that have become specific to updated forms of fascist politics.

Such policies have produced massive inequities in wealth, power and income, while further accelerating mass misery, human suffering, the rise of state-sanctioned violence and ever-expanding sites of terminal exclusion in the forms of walls, detention centers and an expanding carceral state. An impending recession accentuates the antagonisms, instabilities and crisis produced by the long history and reach of neoliberal ideologies and policies.

A new economic slump would further fuel forces of repression and strengthen the forces of white supremacy, Islamophobia, nativism and misogyny. In the face of such reactionary forces, it is crucial to unite various progressive forces of opposition into a powerful anti-capitalist movement that speaks not only to the range of oppressions exacerbated by neoliberalism, but also to the need for new narratives that speak to overturning a system steeped in the machineries of war, militarization, repression and death.

Henry A. Giroux currently holds the McMaster University Chair for Scholarship in the Public Interest in the English and Cultural Studies Department and is the Paulo Freire Distinguished Scholar in Critical Pedagogy. His most recent books include: Neoliberalism's War on Higher Education (Haymarket 2014), The Violence of Organized Forgetting (City Lights 2014), Dangerous Thinking in the Age of the New Authoritarianism (Routledge, 2015), America's Addiction to Terrorism (Monthly Review Press, 2016), America at War with Itself (City Lights, 2017), The Public in Peril (Routledge, 2018) and American Nightmare: Facing the Challenge of Fascism (City Lights, 2018) and The Terror of the Unforeseen (LARB Books, 2019). Giroux is also a member of Truthout 's Board of Directors.

[Nov 13, 2019] The End of Neoliberalism and the Rebirth of History by Joseph E. Stiglitz

Highly recommended!
Notable quotes:
"... The credibility of neoliberalism's faith in unfettered markets as the surest road to shared prosperity is on life-support these days. And well it should be. The simultaneous waning of confidence in neoliberalism and in democracy is no coincidence or mere correlation. Neoliberalism has undermined democracy for 40 years. ..."
"... The effects of capital-market liberalization were particularly odious: If a leading presidential candidate in an emerging market lost favor with Wall Street, the banks would pull their money out of the country. Voters then faced a stark choice: Give in to Wall Street or face a severe financial crisis. It was as if Wall Street had more political power than the country's citizens. 1 ..."
"... Even in rich countries, ordinary citizens were told, "You can't pursue the policies you want" – whether adequate social protection, decent wages, progressive taxation, or a well-regulated financial system – "because the country will lose competitiveness, jobs will disappear, and you will suffer." 1 ..."
"... How can wage restraint – to attain or maintain competitiveness – and reduced government programs possibly add up to higher standards of living? Ordinary citizens felt like they had been sold a bill of goods. They were right to feel conned. ..."
"... If the 2008 financial crisis failed to make us realize that unfettered markets don't work, the climate crisis certainly should: neoliberalism will literally bring an end to our civilization. But it is also clear that demagogues who would have us turn our back on science and tolerance will only make matters worse. ..."
"... The sad truth is, human nature is selfish, and the elites will always do whatever it takes to protect their own interests. With this being the basis of all political systems, it only comes down to how the elites can best serve their own interests. In democracies, it relies on creating an illusion of people's power. ..."
Nov 04, 2019 | www.project-syndicate.org

For 40 years, elites in rich and poor countries alike promised that neoliberal policies would lead to faster economic growth, and that the benefits would trickle down so that everyone, including the poorest, would be better off. Now that the evidence is in, is it any wonder that trust in elites and confidence in democracy have plummeted?

NEW YORK – At the end of the Cold War, political scientist Francis Fukuyama wrote a celebrated essay called " The End of History? " Communism's collapse, he argued, would clear the last obstacle separating the entire world from its destiny of liberal democracy and market economies. Many people agreed.

Today, as we face a retreat from the rules-based, liberal global order, with autocratic rulers and demagogues leading countries that contain well over half the world's population, Fukuyama's idea seems quaint and naive. But it reinforced the neoliberal economic doctrine that has prevailed for the last 40 years.

The credibility of neoliberalism's faith in unfettered markets as the surest road to shared prosperity is on life-support these days. And well it should be. The simultaneous waning of confidence in neoliberalism and in democracy is no coincidence or mere correlation. Neoliberalism has undermined democracy for 40 years.

The form of globalization prescribed by neoliberalism left individuals and entire societies unable to control an important part of their own destiny, as Dani Rodrik of Harvard University has explained so clearly , and as I argue in my recent books Globalization and Its Discontents Revisited and People, Power, and Profits . The effects of capital-market liberalization were particularly odious: If a leading presidential candidate in an emerging market lost favor with Wall Street, the banks would pull their money out of the country. Voters then faced a stark choice: Give in to Wall Street or face a severe financial crisis. It was as if Wall Street had more political power than the country's citizens. 1

Even in rich countries, ordinary citizens were told, "You can't pursue the policies you want" – whether adequate social protection, decent wages, progressive taxation, or a well-regulated financial system – "because the country will lose competitiveness, jobs will disappear, and you will suffer." 1

In rich and poor countries alike, elites promised that neoliberal policies would lead to faster economic growth, and that the benefits would trickle down so that everyone, including the poorest, would be better off. To get there, though, workers would have to accept lower wages, and all citizens would have to accept cutbacks in important government programs.

The elites claimed that their promises were based on scientific economic models and "evidence-based research." Well, after 40 years, the numbers are in: growth has slowed, and the fruits of that growth went overwhelmingly to a very few at the top. As wages stagnated and the stock market soared, income and wealth flowed up, rather than trickling down.

How can wage restraint – to attain or maintain competitiveness – and reduced government programs possibly add up to higher standards of living? Ordinary citizens felt like they had been sold a bill of goods. They were right to feel conned.

We are now experiencing the political consequences of this grand deception: distrust of the elites, of the economic "science" on which neoliberalism was based, and of the money-corrupted political system that made it all possible.

The reality is that, despite its name, the era of neoliberalism was far from liberal. It imposed an intellectual orthodoxy whose guardians were utterly intolerant of dissent. Economists with heterodox views were treated as heretics to be shunned, or at best shunted off to a few isolated institutions. Neoliberalism bore little resemblance to the "open society" that Karl Popper had advocated. As George Soros has emphasized , Popper recognized that our society is a complex, ever-evolving system in which the more we learn, the more our knowledge changes the behavior of the system. 2

Nowhere was this intolerance greater than in macroeconomics, where the prevailing models ruled out the possibility of a crisis like the one we experienced in 2008. When the impossible happened, it was treated as if it were a 500-year flood – a freak occurrence that no model could have predicted. Even today, advocates of these theories refuse to accept that their belief in self-regulating markets and their dismissal of externalities as either nonexistent or unimportant led to the deregulation that was pivotal in fueling the crisis. The theory continues to survive, with Ptolemaic attempts to make it fit the facts, which attests to the reality that bad ideas, once established, often have a slow death. 3

If the 2008 financial crisis failed to make us realize that unfettered markets don't work, the climate crisis certainly should: neoliberalism will literally bring an end to our civilization. But it is also clear that demagogues who would have us turn our back on science and tolerance will only make matters worse.

The only way forward, the only way to save our planet and our civilization, is a rebirth of history. We must revitalize the Enlightenment and recommit to honoring its values of freedom, respect for knowledge, and democracy.

Follow Joseph E. Stiglitz, University Professor at Columbia University, is the co-winner of the 2001 Nobel Memorial Prize, former chairman of the President's Council of Economic Advisers, and former Chief Economist of the World Bank. His most recent book is People, Power, and Profits: Progressive Capitalism for an Age of Discontent .

[Nov 06, 2019] Neoliberalism was not conceived as a self-serving racket [of the financial oligarchy], but it rapidly became one

Highly recommended!
Nov 06, 2019 | crookedtimber.org

likbez 11.06.19 at 4:07 am 47

@Z 11.05.19 at 9:23 am @45

It seems to me an important tenet of the neoliberal ideology is the arbiter (or auctioneer) role it gives the state and other political institutions with respect to markets. Markets are the locus of justice and efficiency, but political institutions have the essential task of organizing them and the competitions that takes place within them, supposedly at least.

In practice, this translated in a central role of political power not only in privatizing and breaking state monopolies, but also in the creation, sometimes ex nihilo, of markets supervised by state or quasi-state agencies (shielded of electoral choices by regulatory or ideally constitutional provisions) whose role was to organize concurrence in domains classical liberal economic theory would consider natural monopolies or natural public properties (education, health service, energy distribution, infrastructure of transportation, telecommunication, postal and banking service etc.)

What an excellent and deep observation ! Thank you ! This is the essence of the compromises with financial oligarchy made by failing social democratic parties. Neoliberalism is kind of Trotskyism for the rich in which the political power is used to shape the society "from above". As Hayek remarked on his visit to Pinochet's Chile – "my personal preference leans toward a liberal dictatorship rather than toward a democratic government devoid of liberalism".

George Monblot observed that "Neoliberalism was not conceived as a self-serving racket [of the financial oligarchy], but it rapidly became one." ( The Guardian, Apr 15, 2016):

Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that "the market" delivers benefits that could never be achieved by planning.

Attempts to limit competition are treated as inimical to liberty. Tax and regulation should be minimised, public services should be privatised. The organisation of labour and collective bargaining by trade unions are portrayed as market distortions that impede the formation of a natural hierarchy of winners and losers. Inequality is recast as virtuous: a reward for utility and a generator of wealth, which trickles down to enrich everyone. Efforts to create a more equal society are both counterproductive and morally corrosive. The market ensures that everyone gets what they deserve.

https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot

The free (as in absence of regulation for FIRE) market produces a tiny cadre of winners and an enormous army of losers (10% vs 90%) – and the losers, looking for revenge, have turned to Trump. Now entrenched centers of "resistance" (and first of all CIA, the Justice Department, The Department of State and a part of Pentagon) are trying to reverse the situation. Failing to understand that they created Trump and each time will reproduce it in more and more dangerous variant.

Trumpism is the inevitable result of the gap between the utopian ideal of the free (for the FIRE sector only ) market and the dystopian reality for the majority of the population ("without work, without possibilities, without any means of escape" Pope Francis, "Evangelii Gaudium")

The situation in which the financial sector generates just 4% of employment, but accounts for more than 25% of corporate profits is unsustainable. It should be reversed and it will be reversed.

[Nov 04, 2019] Postmodernism The Ideological Embellishment of Neoliberalism by Vaska

Highly recommended!
Notable quotes:
"... Robert Pfaller: Until the late 1970s, all "Western" (capitalist) governments, right or left, pursued a Keynesian economic policy of state investment and deficit spending. (Even Richard Nixon is said to have once, in the early 1970ies, stated, "We are all Keynesians"). This lead to a considerable decrease of inequality in Western societies in the first three decades after WWII, as the numbers presented by Thomas Piketty and Branko Milanovic in their books prove. Apparently, it was seen as necessary to appease Western workers with high wages and high employment rates in order to prevent them from becoming communists. ..."
"... Whenever the social-democratic left came into power, for example with Tony Blair, or Gerhard Schroeder, they proved to be the even more radical neoliberal reformers. As a consequence, leftist parties did not have an economic alternative to what their conservative and liberal opponents offered. Thus they had to find another point of distinction. This is how the left became "cultural" (while, of course, ceasing to be a "left"): from now on the marks of distinction were produced by all kinds of concerns for minorities or subaltern groups. And instead of promoting economic equality and equal rights for all groups, the left now focused on symbolic "recognition" and "visibility" for these groups. ..."
"... Thus not only all economic and social concerns were sacrificed for the sake of sexual and ethnic minorities, but even the sake of these minorities itself. Since a good part of the problem of these groups was precisely economic, social and juridical, and not cultural or symbolic. And whenever you really solve a problem of a minority group, the visibility of this group decreases. But by insisting on the visibility of these groups, the policies of the new pseudo-left succeded at making the problems of these groups permanent – and, of course, at pissing off many other people who started to guess that the concern for minorities was actually just a pretext for pursuing a most brutal policy of increasing economic inequality. ..."
"... The connection to neoliberalism is the latter's totalitarian contention of reducing the entirety of human condition into a gender-neutral cosmopolitan self expressing nondescript market preferences in a conceptual vacuum, a contention celebrated by its ideologues as "liberation" and "humanism" despite its inherent repression and inhumanity. ..."
"... "..'identity politics,' which pretty much encapsulate the central concerns of what these days is deemed to represent what little of the 'left' survives, plays into the hands of the neoliberal ruling establishment(s), because at bottom it is a 'politics' that has been emptied of all that is substantively political.." ..."
"... Agreed. And the truth is that the message is much clearer than that of the critics, below. So it ought to be for the world, sliding into fascism, in which we live in might have been baked by the neo-liberals but it was iced by 57 varieties of Blairites . The cowards who flinched led by the traitors who sneered. ..."
"... 'identity politics,' which pretty much encapsulate the central concerns of what these days is deemed to represent what little of the 'left' survives, plays into the hands of the neoliberal ruling establishment(s), because at bottom it is a 'politics' that has been emptied of all that is substantively political, namely, the fight for an equitable production and distribution of goods, both material and cultural, ensuring a decent life for all. ..."
"... Why bother getting your hands dirty with an actual worker's struggle when you can write yet another glamorously "radical" critique of the latest Hollywood blockbuster (which in truth just ends up as another advert for it)? ..."
"... The One Per Cent saw an opportunity of unlimited exploitation and they ran with it. They're still running (albeit in jets and yachts) and us Proles are either struggling or crawling. Greed is neither Left or Right. It exists for its own self gratification. ..."
"... Actually, post-modernism doesn't include everybody -- just the 'marginalized' and 'disenfranchised' minorities whom Michel Foucault championed. The whole thing resembles nothing so much as the old capitalist strategy of playing off the Lumpenproletariat against the proletariat, to borrow the original Marxist terminology. ..."
"... if you don't mind me asking, exactly at what point do you feel capitalism was restored in the USSR? It was, I take it, with the first Five Year Plan, not the NEP? ..."
"... Also, the Socialist or, to use your nomenclature, "Stalinist" system, that was destroyed in the the USSR in the 1990s–it was, in truth, just one form of capitalism replaced by another form of capitalism? ..."
OffGuardian
Robert Pfaller interviewed by Kamran Baradaran, via ILNA
The ruling ideology since the fall of the Berlin Wall, or even earlier, is postmodernism. This is the ideological embellishment that the brutal neoliberal attack on Western societies' welfare (that was launched in the late 1970s) required in order to attain a "human", "liberal" and "progressive" face.

Robert Pfaller is one of the most distinguished figures in today's radical Left. He teaches at the University of Art and Industrial Design in Linz, Austria. He is a founding member of the Viennese psychoanalytic research group 'stuzzicadenti'.

Pfaller is the author of books such as On the Pleasure Principle in Culture: Illusions Without Owners , Interpassivity: The Aesthetics of Delegated Enjoyment , among others. Below is the ILNA's interview with this authoritative philosopher on the Fall of Berlin Wall and "Idea of Communism".

ILNA: What is the role of "pleasure principle" in a world after the Berlin Wall? What role does the lack of ideological dichotomy, which unveils itself as absent of a powerful left state, play in dismantling democracy?

Robert Pfaller: Until the late 1970s, all "Western" (capitalist) governments, right or left, pursued a Keynesian economic policy of state investment and deficit spending. (Even Richard Nixon is said to have once, in the early 1970ies, stated, "We are all Keynesians"). This lead to a considerable decrease of inequality in Western societies in the first three decades after WWII, as the numbers presented by Thomas Piketty and Branko Milanovic in their books prove. Apparently, it was seen as necessary to appease Western workers with high wages and high employment rates in order to prevent them from becoming communists.

Ironically one could say that it was precisely Western workers who profited considerably of "real existing socialism" in the Eastern European countries.

At the very moment when the "threat" of real existing socialism was not felt anymore, due to the Western economic and military superiority in the 1980ies (that led to the fall of the Berlin Wall), the economic paradigm in the Western countries shifted. All of a sudden, all governments, left or right, pursued a neoliberal economic policy (of privatization, austerity politics, the subjection of education and health sectors under the rule of profitability, liberalization of regulations for the migration of capital and cheap labour, limitation of democratic sovereignty, etc.).

Whenever the social-democratic left came into power, for example with Tony Blair, or Gerhard Schroeder, they proved to be the even more radical neoliberal reformers. As a consequence, leftist parties did not have an economic alternative to what their conservative and liberal opponents offered. Thus they had to find another point of distinction. This is how the left became "cultural" (while, of course, ceasing to be a "left"): from now on the marks of distinction were produced by all kinds of concerns for minorities or subaltern groups. And instead of promoting economic equality and equal rights for all groups, the left now focused on symbolic "recognition" and "visibility" for these groups.

Thus not only all economic and social concerns were sacrificed for the sake of sexual and ethnic minorities, but even the sake of these minorities itself. Since a good part of the problem of these groups was precisely economic, social and juridical, and not cultural or symbolic. And whenever you really solve a problem of a minority group, the visibility of this group decreases. But by insisting on the visibility of these groups, the policies of the new pseudo-left succeded at making the problems of these groups permanent – and, of course, at pissing off many other people who started to guess that the concern for minorities was actually just a pretext for pursuing a most brutal policy of increasing economic inequality.

ILNA: The world after the Berlin Wall is mainly considered as post-ideological. Does ideology has truly decamped from our world or it has only taken more perverse forms? On the other hand, many liberals believe that our world today is based on the promise of happiness. In this sense, how does capitalism promotes itself on the basis of this ideology?

Robert Pfaller: The ruling ideology since the fall of the Berlin Wall, or even earlier, is postmodernism. This is the ideological embellishment that the brutal neoliberal attack on Western societies' welfare (that was launched in the late 1970s) required in order to attain a "human", "liberal" and "progressive" face. This coalition between an economic policy that serves the interest of a tiny minority, and an ideology that appears to "include" everybody is what Nancy Fraser has aptly called "progressive neoliberalism". It consists of neoliberalism, plus postmodernism as its ideological superstructure.

The ideology of postmodernism today has some of its most prominent symptoms in the omnipresent concern about "discrimination" (for example, of "people of color") and in the resentment against "old, white men". This is particularly funny in countries like Germany: since, of course, there has been massive racism and slavery in Germany in the 20th century – yet the victims of this racism and slavery in Germany have in the first place been white men (Jews, communists, Gypsies, red army prisoners of war, etc.).

Here it is most obvious that a certain German pseudo-leftism does not care for the real problems of this society, but prefers to import some of the problems that US-society has to deal with. As Louis Althusser has remarked, ideology always consists in trading in your real problems for the imaginary problems that you would prefer to have.

The general ideological task of postmodernism is to present all existing injustice as an effect of discrimination. This is, of course, funny again: Since every discrimination presupposes an already established class structure of inequality. If you do not have unequal places, you cannot distribute individuals in a discriminating way, even if you want to do so. Thus progressive neoliberalism massively increases social inequality, while distributing all minority groups in an "equal" way over the unequal places.


MASTER OF UNIVE

Abbreviate & reduce to lowest common denominator which is hyperinflation by today's standards given that we are indeed all Keynesians now that leveraged debt no longer suffices to prop Wall Street up. Welcome to the New World Disorder. Screw 'postmodernism' & Chicago School 'neoliberalism'!

MOU

Danubium
There is no such thing as "post-modernism". The derided fad is an organic evolution of the ideologies of "modernity" and the "Enlightenment", and represents the logical conclusion of their core premise: the "enlightened self" as the source of truth instead of the pre-modern epistemologies of divine revelation, tradition and reason.

It does not represent any "liberation" from restrictive thought, as the "self" can only ever be "enlightened" by cult-like submission to dogma or groupthink that gives tangible meaning to the intangible buzzword, its apparent relativism is a product of social detachment of the intellectual class and its complete and utter apathy towards the human condition.

The connection to neoliberalism is the latter's totalitarian contention of reducing the entirety of human condition into a gender-neutral cosmopolitan self expressing nondescript market preferences in a conceptual vacuum, a contention celebrated by its ideologues as "liberation" and "humanism" despite its inherent repression and inhumanity.

The trend is not to successor or opponent, but rather modernism itself in its degenerative, terminal stage.

Monobazeus
Well said
bevin
"..'identity politics,' which pretty much encapsulate the central concerns of what these days is deemed to represent what little of the 'left' survives, plays into the hands of the neoliberal ruling establishment(s), because at bottom it is a 'politics' that has been emptied of all that is substantively political.."

Agreed. And the truth is that the message is much clearer than that of the critics, below. So it ought to be for the world, sliding into fascism, in which we live in might have been baked by the neo-liberals but it was iced by 57 varieties of Blairites . The cowards who flinched led by the traitors who sneered.

Norman Pilon
So cutting through all of the verbiage, the upshot of Pfaller's contentions seems to be that 'identity politics,' which pretty much encapsulate the central concerns of what these days is deemed to represent what little of the 'left' survives, plays into the hands of the neoliberal ruling establishment(s), because at bottom it is a 'politics' that has been emptied of all that is substantively political, namely, the fight for an equitable production and distribution of goods, both material and cultural, ensuring a decent life for all.

Difficult not to agree.

For indeed, "If you do not have unequal places, you cannot distribute individuals in a discriminating way, even if you want to do so."

Capricornia Man
You've nailed it, Norman. In many countries, the left's obsession with identity politics has driven class politics to the periphery of its concerns, which is exactly where the neoliberals want it to be. It's why the working class just isn't interested.
Martin Usher
It must be fun to sit on top of the heap watching the great unwashed squabbling over the crumbs.
Red Allover
The world needs another put down of postmodern philosophy like it needs a Bob Dylan album of Sinatra covers . . .
maxine chiu
I'm glad the article was short .I don't think I'm stupid but too much pseudo-intellectualism makes me fall asleep.
Tim Jenkins
Lol, especially when there are some galling glaring errors within " too much pseudo-intellectualism "

Thanks for the laugh, maxine,

Let them stew & chew (chiu) on our comments 🙂

Bootlyboob
As with any use of an -ism though, you need sort the wheat from the chaff when it comes to using 'postmodernism'. Do you mean Baudrillard and Delueze? or do you mean some dirty cunt like Bernard Henri-Levy. There is a bit of a difference.
Bootlyboob
Ok, so Levi is not really a postmodernist. But still, there are philosphers of postmodernism that were, and still are, worth reading.
BigB
Postmodernism: what is it? I defy anyone to give a coherent and specific definition. Not least, because the one 'Classical Liberal' philosopher who did – Stephen Hicks – used the term as a blanket commodification of all post-Enlightenment thought starting with Rousseau's Romanticism. So PoMo has pre-Modern roots? When the left start playing broad and wide with political philosophical categories too – grafting PoMo onto post-Classical roots as a seeming post-Berlin Wall emergence what actually is being said? With such a depth and breadth of human inquiry being commodified as 'PoMo' – arguably, nothing useful.

Neoliberalism is Classic Liberalism writ large. The basic unit of Classicism is an individuated, independent, intentional, individual identitarianism as an atom of the rational ('moral') market and its self-maximising agency. Only, the 'Rights of Man' and the 'Social Contract' have been transfered from the Person (collectively: "We the People " as a the democratic sovereign power) to the Corporation as the new 'Neo-Classicist' supranational sovereign. Fundamentally, nothing has changed.

As pointed out below: this was already well underway by November 1991 – as a structural-function of the burgeoning Euromarkets. These were themselves on the rise as the largest source of global capital *before* the Nixon Shock in 1971. There is an argument to be made that they actually caused the abandoning of Breton Woods and the Gold Standard. Nonetheless, 1991 is a somewhat arbitrary date for the transition from 'High Modernity' to 'PostModernity'. Philosophers. political, and social scientists – as Wittgenstein pointed out – perhaps are victims of their own commodification and naming crisis? Don't get me started on 'post-Humanism' but what does PoMo actually mean?

As the article hints at: the grafting of some subjectivist single rights issues to the ultra-objectivist core market rationality of neoliberalism is an intentional character masking. Even the 'neoliberal CNS' (central nervous system) of the WEF admits to four distinct phases of globalisation. The current 'Globalisation 4.0' – concurrent with the 'Fourth Industrial Revolution' – is a further development of this quasi-subjectivist propagandic ploy. Globalisation is now humanist, sovereigntist, environmentalist, and technologist (technocratic). Its ultimate *telos* is 'fully automated luxury communism' or the harmoniousness of man and nature under an ecolological *Tianxia* the sustainable 'Ecological Civilisation'. Which, I would hope, absolutely nobody is gullible enough to believe?

Who says the leopard cannot change its spots? It can, and indeed does. Neoliberalism is a big-data micromarketing driven technocratic engine of reproduction tailored to the identitarian individual. PoMo – in one sense – is thus the logical extremisation of Classical Liberalism which is happening within the Classical Liberal tradition. It is certainly not a successor state or 'Fourth Political Theory' which is one of the few things Aleksandr Dugin gets right.

This is why the term needs defintion and precisification or, preferably, abandoning. If both the left and right bandy the term around as a eupehemism for what either does not like – the term can only be a noun of incoherence. Much like 'antisemitism': it becomes a negative projection of all undesirable effects onto the 'Other'. Which, when either end of the political spectrum nihilates the Other leaves us with the vicious dehumanisation of the 'traditional' identitarian fascist centre. All binary arguments using shared synthetic terminology – that are plastic in meaning depending on who is using the term – cancel each other out.

Of which, much of which is objectified and commodified as 'PoMo' was a reaction against. A reaction that anticipated the breakdown of the identitarian and sectarian 'technological postmodern' society. So how can that logically be a 'reaction against' and an 'embelishment to' neoliberalism'?

This is not a mere instance of pedantry: I/we are witnessing the decoherence of language due to an extremisation of generalisation and abstraction of sense and meaning. That meaning is deferred is a post-structuralist tenet: but one that proceeds from the extreme objectivisation of language (one to one mapping of meaning as the analytical signified/signifier relationship) and the mathematicisation of logic (post-Fregian 'meta-ontology') not its subjectivisation.

If PoMo means anything: it is a rich and authentic vein of human inquiry that was/is a creative attempt to rescue us from a pure objectivist Hell (David Ray Griffin's "positive postmodernism"). One that was/is not entirely satisfactory; merely because it has not yet completed. In the midst: we have the morbid hybrid symptomatology of the old Classical Libertarian fascism trying to recuperate the new Universal Humanism for which PoMo is a meaningless label. Especially if it is used to character masque the perennial philosophy of Humanism that has been dehumanised and subjugated by successive identitarian regimes of knowledge and power since forever in pre-Antiquity.

We are all human: only some humans are ideologically more human than others is the counter-history of humanity. When we encounter such ideologically imprecise degenerative labels as 'PoMo' – that can mean anything to anyone (but favours the status quo) this makes a nonsense of at least 5,000 years of thought. Is it any wonder that we are super-ordinated by those who can better dictate who we are? Language is overpower and writing is supra-sovereign administration and bureaucracy over the 'owness' of identity. Its co-option by the pseudoleft is a complete denigration and betrayal of the potential of a new Humanism. The key to which is the spiritual recovery and embodiment of who we really are – proto-linguistically and pre-ontologically – before all these meaningless labels get in the way.

Bootlyboob
You said it better than I ever could.

Stephen Hick's book is quite the laugh. I tried to read it but it made no sense. From memory, it starts at Kant and Hegel and gets them completely wrong, (he even draws little charts with their ideas in tabulated form, WTF?) so I quickly deleted the .pdf. Any book that begins with a summary of these two philosophers and then thinks they can hold my attention until they get to their take on 'postmodernism' is sorely mistaken. Postmodernism is a made up label for about four or five French intellectuals in the 1970's that somehow took over the world and completely fucked it up. Why do I somehow not follow this line of 'thought'?

Reg
No, Postmodernism is a real thing, it is the capitalist assimilation of situationism to overcome the crisis of profit in the 70s caused by overproduction and the attempt by the 1% to recapture a greater a greater % of GDP that they had lost due to the post war settlement. This was an increasingly a zero sum game economy after Germany and Japan had rebuilt their manufacturing capacity, with the US constrained by a widening trade deficit and the cost of the cold and Vietnam war increasing US debt. The inflation spikes in the 70s is only reflective of these competing demands.

The problem of modernism is than peoples needs are easily saited, particularly in conditions of overproduction. Postmodern production is all about creating virtual needs that are unsatisfied. The desire for status or belonging or identity are infinite, and overcomes the dead time of 'valourisation' (time taken for investment to turn into profit) of capital by switching to virtual production of weightless capitalism. The creation of 'intangible asset's such as trade marks, while off shoring production is central. This is a form of rentier extraction, as the creation of a trade mark creates no real value if you have offshored not only production but R&D to China. This is why fiance, and free movement of capital supported by monetary policy and independent central banks are central to Postmodern neo-liberal production. The problem being that intangible assets are easy to replace and require monopoly protection supported by a Imperial hegemon to maintain rentier extraction. Why does China need a US or UK trade mark of products where both innovation and production increasingly come from China? How long can the US as a diminishing empire maintain rentier extraction at the point of a military it increasingly cannot afford, particularly against a military and economic superpower like China? It is no accident US companies that have managed to monetise internet technologies are monopolies, google, microsoft, Apple. An operating system for example has a reproduction cost of zero, the same can be said of films or music, so the natural price is zero, only a monopoly maintains profit.

The connection to situationism is the cry of May 68 'Make your dreams reality', which was marketised by making peoples dreams very interesting ones about fitted kitchens, where even 'self actualisation was developed into a product, where even ones own body identity became a product to be developed at a price. This is at the extreme end of Marxist alienation as not only work or the home becomes alienated, but the body itself.
David Harvey covers some of this quite well in his "The condition of Postmodernity". Adam Curtis also covers quite well in 'The Trap' and the 'Century of the self'.

BigB
I'm inclined to agree with everything you write. It would fall into what I called 'precisification' and actual definition. What you describe is pure Baudrillard: that capitalism reproduces as a holistic system of objects that we buy into without ever satisfying the artificial advertorial need to buy. What we actually seek is a holism of self that cannot be replaced by a holism of objects hence an encoded need for dissatisfaction articulated as dissatisfaction a Hyperrealism of the eternally desiring capitalist subject. But Baudrillard rejected the label too.

What I was pointing out was the idea of 'contested concept'. Sure, if we define terms, let's use it. Without that pre-agreed defintion: the term is meaningless. As are many of our grandiloquent ideas of 'Democracy', 'Freedom', 'Prosperity', and especially 'Peace'. Language is partisan and polarised. Plastic words like 'change' can mean anything and intentionally do. And the convention of naming creates its own decoherence sequence. What follows 'postmodernism'? Post-humanism is an assault on sense and meaning. As is the current idea that "reality is the greatest illusion of all".

We are having a real communication breakdown due to the limitations of the language and out proliferation of beliefs. Baudrillard also anticipated the involution and implosion of the Code. He was speaking from a de Saussurian (semiologic) perspective. Cognitive Linguistics makes this ever more clear. Language is maninly frames and metaphors. Over expand them over too many cognitive domains: and the sense and meaning capability is diluted toward meaninglessnes – where reality is no longer real. This puts us in the inferiorised position of having our terms – and thus our meaning – dictated by a cognitive elite a linguistic 'noocracy' (which is homologous with the plutocracy – who can afford private education).

Capitalism itself is a purely linguistic phenomena: which is so far off the beaten track I'm not even going to expand on it. Except to say: that a pre-existing system of objects giving rise to a separate system of thoughts – separate objectivity and subjectivity – is becoming less tenable to defend. I'd prefer to think in terms of 'embodiment' and 'disembodiment' rather than distinct historical phases. And open and closed cognitive cycles rather than discreet psycholgical phases. We cannot be post-humans if we never embodied our humanism fully. And we cannot be be post-modern when we have never fully lived in the present having invented a disembodied reality without us in it, which we proliferated trans-historically the so-called 'remembered present'.

Language and our ideas of reality are close-correlates – I would argue very close correlates. They are breaking down because language and realism are disembodied which, in itself is ludicrous to say. But we have inherited and formalised an idealism that is exactly that. Meaning resides in an immaterial intellect in an intangible mind floating around in an abstract neo-Platonic heaven waiting for Reason to concur with it. Which is metaphysical bullshit, but it is also the foundation of culture and 'Realism'. Which makes my position 'anti-Realist'. Can you see my problem with socio-philosophical labels now!? They can carry sense if used carefully, as you did. In general discourse they mean whatever they want to mean. Which generally means they will be used against you.

Ramdan
"the SPIRITUAL RECOVERY and embodiment of who we really are – PROTO-LINGUISTICALLY and PRE-ONTOLOGICALLY – BEFORE all these MEANINGLESS LABELS get in the way."

Thanks BigB. I just took the liberty to add emphasis.

Robbobbobin
Smarty pants (label).
Robert Laine
A reply to the article worthy of another Off-G article (or perhaps a book) which would include at a minimum the importance of non-dualistic thinking, misuse of language in the creation of MSM and government narratives and the need to be conscious of living life from time to time while we talk about it. Thankyou, BigB.
Simon Hodges
Don't you love how all these people discuss postmodernism without ever bothering to define what it is. How confused. Hicks and Peterson see postmodernists as Neo-Marxists and this guy sees them as Neoliberals. None of the main theorists that have been associated with Postmodernism and Post-Structuralism and I'm thinking Derrida, Baudrillard and Foucault here (not that I see Foucault as really belonging in the group) would not even accept the term 'postmodernism' as they would see it as an inappropriate form of stereo-typography with no coherent meaning or definition and that presupposing that one can simply trade such signifiers in 'transparent' communication and for us all to think and understand the same thing that 'postmodernism' as a body of texts and ideas might be 'constituted by' is a large part of the problem under discussion. I often think that a large question that arises from Derrida's project is not to study communication as such but to study and understand miss-communication and how and why it comes about and what is involved in our misunderstandings. If people don't get that about 'postmodern' and post-structuralist theories then they've not understood any thing about it.
BigB
You are absolutely right: the way we think in commodities of identities – as huge generalizations and blanket abstractions – tends toward grand narration and meaninglessness. Which is at once dehumanising, ethnocentric, exceptionalist, imperialist in a way that favours dominion and overpower. All these tendencies are encoded in the hierarchical structures of the language – as "vicious" binary constructivisms. In short, socio-linguistic culture is a regime of overpower and subjugation. One that is "philosopho-political" and hyper-normalises our discrimination.

Deleuze went further when he said language is "univocal". We only have one equiprimordial concept of identity – Being. It is our ontological primitive singularity of sense and meaning. Everything we identity – as "Difference" – is in terms of Being (non-Being is it's binary mirror state) as an object with attributes (substances). Being is differentiated into hierarchies (the more attributes, the more "substantial"- the 'greater' the being) which are made "real" by "Repetition" hence Difference and Repetition. The language of Dominion, polarization, and overpower is a reified "grand ontological narrative" constructivism. One dominated by absolutised conceptual Being. That's all.

[One in which we are naturally inferiorised in our unconscious relationship of being qua Being in which we are dominated by a conceptual "Oedipal Father" – the singularity of the Known – but that's another primal 'onto-theocratic' narrative the grandest of then all].

One that we are born and acculturated into. Which the majority accept and never question. How many people question not just their processes of thought but the structure of their processes of thought? A thought cannot escape its own structure and that structure is inherently dominative. If not in it's immediacy then deferred somewhere else via a coduit of systemic violence structured as a "violent hierarchy" of opposition and Othering.

Which is the ultimate mis-communication of anything that can be said to be "real" non-dominative, egalitarian, empathic, etc. Which, of course, if we realise the full implications we can change the way we think and the "naturalised" power structures we collectively validate.

When people let their opinions be formed for them, and commodify Romanticism, German Idealism, Marxism, Phenomenology, Structuralism, Post-Structuralism, Existentialism, etc as the pseudo-word "PoMo" – only to dismiss it they are unbeknowingly validating the hegemony of power and false-knowledge over. Then paradoxically using those binary power structures to rail about being dominated!

Those linguistic power structures dominate politics too. The "political unconscious" is binary and oppositional which tends toward negation and favours the status quo but how many people think in terms of the psychopolitical and psycholinguistic algorithms of power and politics?

Derrida's project is now our project and it has hardly yet begun. Not least because cognitive linguistics were unkown to Derrida. That's how knowledge works by contemporising and updating previous knowledge from Structuralism to Post-Structuralism to

Nihilating anything that can be called "PoMo" (including that other pseudo-label "Cultural Marxism") condemns us to another 200 years of Classical Liberalism which should be enough impetus to compel everyone to embrace the positive aspects of PoMo! Especially post-post-structuralism that stupid naming convention again

Simon Hodges
I think a lot of people forget that both Derrida and Baudrillard died before the financial crisis. I don't think either of them like myself at that time paid much attention to economics and markets as they worked within very specific and focused fields. Derrida spent his whole life analysing phonocentrism and logocentrism throughout the history of philosophy and Baudrillard was more a cultural sociologist then anything else. They like most people assumed that neoliberalism was working and they enjoyed well paid jobs and great celebrity so they didn't have much cause to pay that much attention to politics. Following the Invasion of Iraq Derrida did come out very strongly against the US calling it the biggest and most dangerous rogue state in the world and he cited and quoted Chomsky's excellent work. We should also include the UK as the second biggest rogue state.

Once the GFC happened I realized that my knowledge on those subjects was virtually zero and I have since spent years looking at them all very closely. I think Derrida and Baudrillard would have become very political following the GFC and even more so now given current events with the yellow vests in France. Shame those two great thinkers died before all the corruption of neoliberalism was finally revealed. I believe that would have had a great deal to say about it Derrida at least was a very moral and ethical man.

Bootlyboob
I think you would like this essay if you have not read it already.

https://cidadeinseguranca.files.wordpress.com/2012/02/deleuze_control.pdf

Simon Hodges
There's a good video by Cuck Philosophy on YouTube covering control societies below.

https://www.youtube.com/embed/B_i8_WuyqAY?version=3&rel=1&fs=1&autohide=2&showsearch=0&showinfo=1&iv_load_policy=1&start=3&wmode=transparent

If anyone wants a good overview of postmodernism and post-structuralism Cuck philosophy has has some excellent videos covering the subject matter and ideas. He explains how postmodernism has nothing to do with identity politics and shows how Hick and Peterson have fundamentally misunderstood postmodernism. He also has 3 videos covering postmodern basics and some others on Derrida and Baudrillard. You will not find the concepts explained better though one can never give a comprehensive review as such things are essentially beyond us.

He puts too much weight on Foucault for my liking but that's just the fact that my understanding of postmodernism is obviously different to his because all of our largely chance encounters with different texts at different times, which mean that we all come away with slightly different ideas about what these things might mean at any given time. Even in relation to differences in our own ideas from day to day or year to year.

Bootlyboob
Yes, that's why I mentioned the article in relation to your earlier comment. I don't think any of these philosophers would have changed their stances based on the events 20 or 30 post their deaths. They essentially predicted the course that society has taken.
Simon Hodges
Judith Butler took part in the occupy wall street movement and she's a post-structuralist so she has clearly changed her mind since the GFC. Deleuze may have to a certain extent have predicted such things but that doesn't necessarily mean they would have been happy about them. Derrida always spoke of the 'democracy' to come. Instead what we are looking forward to is tech based technocratic totalitarianism. I don't go along with Deleuze on that matter anyway. I don't see a discreet transition from one to the other but rather see us having to endure the combined worst of both scenarios.
Bootlyboob
In relation to Peterson. I did write an email to him once and he wrote back to me saying he does indeed like the writings of Deleuze and Baudrillard. But it was a one line response. I'm still assuming he merely uses a false reading of Derrida as a prop to advance his own arguments.
Simon Hodges
Peterson doesn't understand that postmodernism is not the source of identity politics or cultural marxism. That source is Anglo sociology. I was doing an MSc in sociology back in 1994/95 and they had been transitioning away from Marx and class conflict to Nietzsche and power conflicts understood within a very simplistic definition of power as a simple binary opposition of forces between and 'oppressor' and a 'resistor'.

They borrow a bit from Foucault but they cannot accept his postmodern conclusions as power is necessarily revealed as a positive force that actually constructs us all: in which case one cannot really object to it on political grounds. Let's face it, these cultural ex-Marxists (now actually an elitist Nietzschean ubermench) don't seem to object to power's miss-functioning at all on any kind of institutional level but solely concentrate on supposed power relations at the personal level.

That's all if you buy into 'power'at all as such. Baudrillard wrote 'Forget Foucault' and that 'the more one sees power everywhere the less one is able to speak thereof'. I try and stay clear of any theory that tries to account for everything with a single concept or perspective as they end up over-determining and reductionist.

Steve Hayes
A major benefit (for the elites) of postmodernism is its epistemological relativism, which denies the fundamentally important commitments to objectivity, to facts and evidence. This results in the absurd situation where all the matters is the narrative. This obvious fact is partially obscured by the substitution of emotion for evidence and logic. https://viewsandstories.blogspot.com/2018/06/emotion-substitutes-for-evidence-and.html
Seamus Padraig
Yup. Among other things, po-mo 'theory' enables Orwell's doublethink .
BigB
This is exactly the misunderstanding of a mythical "po-mo 'theory'" – if such a thing exists – that I am getting at. 'Po-mo theory' is in fact a modernity/postmodernity hybrid theory. Pomo theory is yet to emerge.

For instance: Derrida talked of the 'alterity' of language and consciousness that was neither subjectivist nor objectivist. He also spoke of 'inversion/subversion' – where one bipolar oppositional term becomes the new dominant ie 'black over white' or 'female over male'. This, he made specifically clear, was just as violent a domination as the old normal. How is this enabling 'doublethink'.

If you actually study where Derrida, Baudrillard, Deleuze; etc where taking their 'semiotics' it was to the 'Middle Way' of language – much the same destination as Buddhism. This is the clear and precise non-domination of either extreme of language. Only, they never supplied the praxis; and their followers and denigrators where not as prescient.

There is so much more to come from de Saussurian/Piercian semiotics and Bergsonian/Whiteheadian process philosophy. We have barely scratched the surface. One possibility is the fabled East/West synthesis of thought that quantum physics and neuroscience hint at.

What yo do not realise is that our true identity is lost in the language. Specifically: the Law of Identity and the Law of the Excluded Middle of our current Theory of Mind prevent the understanding of consciousness. To understand why you actually have to read and understand the linguistic foundations of the very theory you have just dismissed.

Robbobbobin
"Specifically: the Law of Identity and the Law of the Excluded Middle of our current Theory of Mind prevent the understanding of consciousness."

Yes, but. What do you mean by " our current Theory of Mind"?

Tim Jenkins
Was that a promo for Po-mo theory, BigB ? (chuckle)
BigB
In fact: if followed through – PoMo leads to the point of decoherence of all narrative constructivism. Which is the same point the Buddhist Yogacara/Madhyamaka synthesis leads to. Which is the same point quantum physics and contemporary cognitive neuroscience leads to. The fact of a pre-existent, mind-independent, objective ground for reality is no longer tenable. Objectivism is dead. But so is subjectivism.

What is yet to appear is a coherent narrative that accommodates this. Precisely because language does not allow this. It is either subjectivism or objectivism tertium non datur – a third is not given. It is precisely within the excluded middle of language that the understanding of consciouness lies. The reason we have an ontological cosmogony without consciousness lies precisely in the objectification and commodification of language. All propositions and narratives are ultimately false especially this one.

Crucially, just because we cannot create a narrative construction or identity for 'reality' – does not mean we cannot experience 'reality'. Which is what a propositional device like a Zen koan refers to

All linguistic constructivism – whether objective or subjective – acts as a covering of reality. We take the ontological narrative imaginary for the real 'abhuta-parikalpa'. Both object and subject are pratitya-samutpada – co-evolutionary contingent dependendencies. The disjunction of all dualities via ersatz spatio-temporality creates Samsara. The ending of Samsara is the ending and re-uniting of all falsely dichotomised binary definitions. About which: we can say precisely nothing.

Does this mean language is dead? No way. Language is there for the reclamation by understanding its superimpositional qualitiy (upacara). A metaphoric understanding that George Lakoff has reached with Mark Johnston totally independently of Buddhism. I call it 'poetic objectivism' of 'critical realism' which is the non-nihilational, non-solipsistic, middle way. Which precisely nihilates both elitism and capitalism: which is why there is so much confusion around the language. There is more at stake than mere linguistics. The future of humanity will be determined by our relationship with our languages.

vexarb
@BigB: "The fact of a pre-existent, mind-independent, objective ground for reality is no longer tenable. Objectivism is dead."

Do you mean that there is more to life than just "atoms and empty space"? Plato, Dante and Blake (to name the first 3 who popped into my head) would have agreed with that: the ground of objective reality is mind -- the mind of God.

"The atoms of Democritus, and Newton's particles of Light,
Are sands upon the Red Sea shore,
Where Israel's tents do shine so bright".

Tim Jenkins
Funnily enough, I was only writing just yesterday on OffG's 'India's Tryst with Destiny' article, just what poor standards we have in the Education of our children today, in urgent need of massive revisions, which I've highlighted and how the guilt lays squarely on the shoulders of Scientists & Academia in our Universities, from Physics to History & Law & the 'Physiology of Psychology' these guys really just don't 'cut it' anymore resting on Laurels, living in Fear and corrupted by capitalism >>> wholly !

Somebody should be shot, I say for Terrorist Acts !

Corruption is the Destruction of Culture &

"The Destruction of Culture is a Terrorist Act", now officially,
in international Law @UNESCO (thanks, Irina Bokova)

Would the author of this piece like to review & correct some obviously glaring errors ?

George
Good article. On this topic, I read an essay by the late Ellen Meiksins Wood where she noted that our splendid "new Left" are all at once too pessimistic and too optimistic. Too pessimistic because they blandly assume that socialism is dead and so all struggles in that direction are futile. Too optimistic because they assume that this (up till now) bearable capitalism around them can simply continue with its shopping sprees, pop celebrity culture, soap operas, scandal sheets, ineffectual though comfortable tut-tutting over corrupt and stupid politicians and – best of all – its endless opportunity for writing postmodernist deconstructions of all those phenomena.

Why bother getting your hands dirty with an actual worker's struggle when you can write yet another glamorously "radical" critique of the latest Hollywood blockbuster (which in truth just ends up as another advert for it)?

Fair Dinkum
During the 50's and 60's most folks living in Western cultures were happy with their lot: One house, one car, one spouse, one job, three or four kids and enough money to live the 'good life' Then along came Vance Packard's 'Hidden Persuaders' and hell broke loose.

The One Per Cent saw an opportunity of unlimited exploitation and they ran with it. They're still running (albeit in jets and yachts) and us Proles are either struggling or crawling. Greed is neither Left or Right. It exists for its own self gratification.

Seamus Padraig
Excellent article and very true. Just one minor quibble:

This coalition between an economic policy that serves the interest of a tiny minority, and an ideology that appears to "include" everybody is what Nancy Fraser has aptly called "progressive neoliberalism".

Actually, post-modernism doesn't include everybody -- just the 'marginalized' and 'disenfranchised' minorities whom Michel Foucault championed. The whole thing resembles nothing so much as the old capitalist strategy of playing off the Lumpenproletariat against the proletariat, to borrow the original Marxist terminology.

Stephen Morrell
The following facile claim doesn't bear scrutiny: "At the very moment when the "threat" of real existing socialism was not felt anymore, due to the Western economic and military superiority in the 1980ies (that led to the fall of the Berlin Wall), the economic paradigm in the Western countries shifted."

The economic paradigm shifted well before the 1980s and it had nothing to do with "Western economic and military superiority in the 1980ies". The death knell of Keynesianism was sounded with the de-linking of the US dollar and the gold standard in 1971 and the first oil crisis of 1973. Subsequently, the 1970s were marked by a continuous and escalating campaign of capital strikes which produced both high inflation and high unemployment ('stagflation') in the main imperial centres. These strikes persisted until the bourgeoisie's servants were able to implement their desired 'free market' measures in the 1980s, the key ones being smashing of trade union power and consequent devastation of working conditions and living standards, privatisation of essential services, dissolution of social welfare and all the rest. All in the name of 'encouraging investment'.

The fear of 'existing socialism' (and of the military might of Eastern Europe and the USSR) persisted right up to the restoration of capitalism in the USSR in 1991-92. The post-soviet triumphalism (to that moronic and ultimate post-modernist war cry, 'The End of History') only opened the floodgates for the imposition of the neoliberal paradigm over the whole globe. The real essence of the 'globalisation' ideology has been this imposition of imperial monopoly and hegemony on economically backward but resource-rich countries that hitherto could gain some respite or succour from the USSR and Eastern Europe as an alternative to the tender mercies of the World Bank and IMF whose terms correspondingly centred on the neoliberal paradigm.

The key class-war victories of the 1980s by the ruling class, especially in the main Anglophone imperial centres (exemplified by the air traffic controllers strike in Reagan's US and the Great Coal Strike in Thatcher's England), were the necessary condition to them getting their way domestically. However, the dissolution of the USSR not only allowed the imperialists to rampage internationally (through the World Bank, IMF, WTO, etc) but gave great fillip to their initial class-war victories at home to impose with impunity ever more grinding impoverishment and austerity on the working class and oppressed -- from the 1990s right up to fraught and crisis-ridden present. The impunity was fuelled in many countries by that domestic accompaniment to the dissolution of the USSR, the rapidly spiralling and terminal decline of the mass Stalinist Communist parties, the bourgeoisie's bogeyman.

Finally, productivity in the capitalist west was always higher than in post-capitalist countries. The latter universally have been socialised economies built in economically backward countries and saddled with stultifying Stalinist bureaucracies, including in the USSR and Eastern Europe. Capitalist productivity didn't suddenly exceed that in the USSR or Eastern Europe in the 1980s.

So, overall, the 'triumph' of the neoliberal paradigm didn't really have much to do with the imperialist lie of "Western economic and military superiority in the 1980ies". That fairytale might fit into some post-modernist relativist epistemology of everything being equally 'true' or 'valid', but in the real world it doesn't hold up empirically or logically. In Anglophone philosophic academia at least, post-modernism really picked up only after Althusser strangled his wife, and hyper-objectivist structuralism correspondingly was strangled by hyper-subjectivist post-modernism.

Seamus Padraig

The death knell of Keynesianism was sounded with the de-linking of the US dollar and the gold standard in 1971 and the first oil crisis of 1973.

Not really, no. In fact, we still do have Keynesianism; but now, it's just a Keynsianism for the banks, the corporations and the MIC rather than the rest of us. But check the stats: the governments of West are still heavily involved in deficit spending–US deficits, in fact, haven't been this big since WW2! Wish I got some of that money

Tim Jenkins
I find this kind of a pointless discussion on Keynes & so on

"Capitalism has Failed." Christine Lagarde 27/5/2014 Mansion House

"Socialism for the Rich" (Stiglitz: Nobel Economic laureate, 2008/9)

More important is the structuring of Central Banks to discuss and
Richard A. Werner's sound observations in the link

http://www.sciencedirect.com/science/article/pii/S1057521915001477

Riddle me this Seamus: this year we just got a new statue of Woodrow Wilson in Plovdiv BG.
Last year we got a statue of John no-name McCain in Sofia Bulgaria
See the patterns in the most poverty stricken EU nation ?
Not difficult !

vexarb
Seamus, me too! At least, wish I could get some of my own money back.
Tim Jenkins
Whenever I think about some serious R.O.I. of time & money & family contributions to Tech. Designs, lost in the '80's, I have to play some music or switch to Zen mode 🙂
vexarb
@Tim: "R.O.I (Return On Investment)". The first time I have come across that P.O.V (Point Of View) on this site. The essence of Darwin's theory of evolutionary progress: to slowly build on an initial slight advantage. The 80s (I was there), Maggie Snatcher, Baroness Muck, no such thing as Society, the years that the Locust has eaten. Little ROI despite a tsunami of fiat money swirling around the electronic world. Where is the ROI from capital in the WC.Clinton / B.Liar / Brown regimes, that were so boastful of their economic policies. Where are the snows of yesteryear?
Tim Jenkins
Well said, Stephen: this wholly weird wee article certainly begs the question, how old is & where was this tainted memory & member of academia in the 'Winter of '79' ? and how could he have possibly missed all the denationalisation/privatisation, beginning with NFC and onwards, throughout the '80's, under Thatcher ? Culminating in screwing UK societal futures, by failing to rollout Fibre Optic Cable in the UK, (except for the Square Mile city interests of London) which Boris now promises to do today, nationwide,

a mere 30 years too damn late, when it would have been so cheap, back then and production costs could have been tied to contracts of sale of the elite British Tech. at that time

http://www.techradar.com/news/world-of-tech/how-the-uk-lost-the-broadband-race-in-1990-1224784/2

Worth reading both part one & two of that link, imo scandalous !

Nice wholly suitable reference to Althusser 😉 say no more.

Talk about 'Bonkers' 🙂 we shan't be buying the book, for sure 🙂

Your comment was way more valuable. Do people get paid for writing things like this, these days. I was just outside Linz for 2 months, just before last Christmas and I found more knowledgeable people on the street, in & around Hitler's ole' 'patch', during his formative years, on the streets of Linz: where the joke goes something along the lines of

"If a homeless unemployed artist can't make it in Austria, he has nothing to fear, knowing that he can be on the road to becoming the Chancellor of Germany in just another year "

BigB
I was right with you to the end, Stephen. Althusser killed his wife for sure: but he was deemed insane and never stood trial. He was almost certainly suffering from a combination of conditions, exacerbated by a severe form of PTSD, as we would call it now.

Whether or not one has sympathy for this has become highly politicised. Classic Liberals, anti-communists, and radical feminists always seem to portray the 'murder' as a rational act of the misogynistic male in the grips of a radical philosophy for which wife murder is as natural a consequence as the Gulag. His supporters try to portray the 'mercy' killing of Helene as an 'act of love'. It wasn't that simple though, was it? Nor that black and white.

I cannot imagine what life was like in a German concentration camp for someone who was already suffering from mental illness. From what I have read: the 'treatment' available in the '50s was worse than the underlying condition. He was also 'self-medicating'. I cannot imagine what the state of his mind was in 1980: but I am inclined to cut him some slack. A lot of slack.

I cannot agree with your last statement. Althusser's madness was not a global trigger event – proceeding as a natural consequence from "hyper-subjectivist post-modernism". Which makes for a literary original, but highly inaccurate metaphor. Not least because Althusser was generally considered as a Structuralist himself.

Other than that, great comment.

Stephen Morrell
I understand your sentiments toward Althusser, and am sorry if my remarks about him were insensitive or offensive. However, I know from personal experience of hardline Althusserian academic philosophers who suddenly became post-modernists after the unfortunate incident. The point I was trying to make was that his philosophy wasn't abandoned for philosophical reasons but non-philosophical, moral ones. It wasn't a condemnation of Althusser. It was a condemnation of many of his followers.

I made no claim that this was some kind of 'global trigger event'. Philosophy departments, or ideas as such, don't bring change. If post-modernism didn't become useful to at least some sectors of the ruling class at some point, then it would have remained an academic backwater (as it should have). Nor that post-modernism was some kind of 'natural consequence' of structuralism (which is what I think you meant). Philosophically, it was a certainly one reaction to structuralism, one among several. Other more rational reactions to structuralism included EP Thompson's and Sebastiano Timpinaro's.

As Marx said, "the ideas of the ruling class are in every epoch the ruling ideas" [German Ideology], and if the ruling class finds some of them useful they'll adopt them. Or as Milton Friedman, one of the main proponents of neoliberalism, proclaimed: "Only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around." Post-modernism, as a philosophy 'lying around', serves as a nice philosophical/ideological fit for the intelligentsia to rationalise the anti-science ideology the ruling class today is foisting on rest of the population.

Politically, Althusser was disowned by many French leftists for his support of the thoroughly counter-revolutionary role of the Stalinist PCF in the 1968 May events. His authority lasted for over a decade longer in the Anglophone countries.

Lochearn
"In Anglophone philosophic academia at least, post-modernism really picked up only after Althusser strangled his wife, and hyper-objectivist structuralism correspondingly was strangled by hyper-subjectivist post-modernism."

Wonderful sentence. I'll keep that – if I may – for some imaginary dinner table with some imaginary academic friends.

Tim Jenkins
I was thinking exactly the same and imagining the window of opportunity to provoke some sound conversation, after some spluttering of red w(h)ine
Stephen Morrell
Thank you. I'll rephrase it to improve it slightly if you like:

In Anglophone philosophic academia at least, post-modernism really picked up only after Althusser strangled his wife, and in revenge hyper-objectivist structuralism was strangled by hyper-subjectivist post-modernism.

Red Allover
Mr. Morrell's use of the phrase "stultifying Stalinist bureaucracies," to describe the actually existing Socialist societies of the Eastern bloc, indicates to me that he is very much of the bourgeois mind set that he purports to criticize. This "plague on both your houses" attitude is very typical of the lower middle class intellectual in capitalist countries, c.f. Chomsky, Zizek, etc.
Stephen Morrell
On the contrary, all the remaining workers states (China, North Korea, Viet Nam, Laos and Cuba) must be defended against imperialist attack and internal counterrevolution despite the bureaucratic castes that hold political power in these countries. Political, not social, revolutions are needed to sweep away these bureaucracies to establish organs of workers democracy and political power (eg soviets) which never existed in these countries (unlike in the first years of the USSR).

To his last days, the dying Lenin fought the rising bureaucracy led by Stalin, but Russia's backwardness and the failure of the revolution to spread to an advanced country (especially Germany, October 1923) drove its rise. Its ideological shell was the profoundly reactionary outlook and program of 'Socialism in One Country' (and only one country). And while Stalin defeated him and his followers, it was Trotsky who came to a Marxist, materialist understanding of what produced and drove the Soviet Thermidor. Trotsky didn't go running off to the bourgeoisie of the world blubbering about a 'new class' the way Kautsky, Djilas, Shachtman, Cliff, et al. did.

The restoration of capitalism in the Soviet Union was a profound defeat for the working class worldwide, as it would be for the remaining workers states. Now if that's a 'bourgeois mindset' of a 'lower middle class intellectual', be my guest and nominate the bourgeois or petty bourgeois layers that hold such views. Certainly Chomsky, Zizek et al. couldn't agree with such an outlook, but it's only the bourgeoisie and the Stalinists who contend that the workers states are 'socialist' or 'communist'. Only a true post-modernist could delude themselves into concurring, or claim that the political repression, censorship and corrupting bureaucratism of the Stalinist regimes were indeed not stultifying.

Red Allover
Thanks for your intelligent response. I am very familiar with the Trotskyist positions you outline. I could give you the Leninist rebuttal to each of them, but you are probably familiar with them as well. I don't want to waste your time, or mine. However, if you don't mind me asking, exactly at what point do you feel capitalism was restored in the USSR? It was, I take it, with the first Five Year Plan, not the NEP?

Also, the Socialist or, to use your nomenclature, "Stalinist" system, that was destroyed in the the USSR in the 1990s–it was, in truth, just one form of capitalism replaced by another form of capitalism? Would this summarize your view accurately?

Stephen Morrell
Capitalism was restored in the USSR in 1991-92. Stalinism was not another form of capitalism, as the Third Campists would contend. The Stalinist bureaucracy rested on exactly the same property relations a socialist system would which were destroyed with Yeltsin's (and Bush's) counterrevolution. Last, I've never labelled the Stalinist bureaucracy as a 'system'.
GMW
Perhaps if you changed your moniker to: "Troll Allover" one could take you seriously, well, not really – 'seriously' – but at least in a sort of weird, twisted & warped post-modern sense – eh?
Red Allover
I'm sorry, what is the argument you are making? I know name calling is beneath intelligent, educated people.

[Oct 10, 2019] Trump, Impeachment Forgetting What Brought Him to the White House by Andrew J. Bacevich

Highly recommended!
The term "centrist" is replaced by a more appropriate term "neoliberal oligarchy"
Notable quotes:
"... Furthermore, Donald Trump might well emerge from this national ordeal with his reelection chances enhanced. Such a prospect is belatedly insinuating itself into public discourse. For that reason, certain anti-Trump pundits are already showing signs of going wobbly, suggesting , for instance, that censure rather than outright impeachment might suffice as punishment for the president's various offenses. Yet censuring Trump while allowing him to stay in office would be the equivalent of letting Harvey Weinstein off with a good tongue-lashing so that he can get back to making movies. Censure is for wimps. ..."
"... So if Trump finds himself backed into a corner, Democrats aren't necessarily in a more favorable position. And that aren't the half of it. Let me suggest that, while Trump is being pursued, it's you, my fellow Americans, who are really being played. The unspoken purpose of impeachment is not removal, but restoration. The overarching aim is not to replace Trump with Mike Pence -- the equivalent of exchanging Groucho for Harpo. No, the object of the exercise is to return power to those who created the conditions that enabled Trump to win the White House in the first place. ..."
"... For many of the main participants in this melodrama, the actual but unstated purpose of impeachment is to correct this great wrong and thereby restore history to its anointed path. ..."
"... In a recent column in The Guardian, Professor Samuel Moyn makes the essential point: Removing from office a vulgar, dishonest and utterly incompetent president comes nowhere close to capturing what's going on here. To the elites most intent on ousting Trump, far more important than anything he may say or do is what he signifies. He is a walking, talking repudiation of everything they believe and, by extension, of a future they had come to see as foreordained. ..."
"... Moyn styles these anti-Trump elites as "neoliberal oligarchy", members of the post-Cold War political mainstream that allowed ample room for nominally conservative Bushes and nominally liberal Clintons, while leaving just enough space for Barack Obama's promise of hope-and-(not-too-much) change. ..."
"... These "neoliberal oligarchy" share a common worldview. They believe in the universality of freedom as defined and practiced within the United States. They believe in corporate capitalism operating on a planetary scale. They believe in American primacy, with the United States presiding over a global order as the sole superpower. They believe in "American global leadership," which they define as primarily a military enterprise. And perhaps most of all, while collecting degrees from Georgetown, Harvard, Oxford, Wellesley, the University of Chicago, and Yale, they came to believe in a so-called meritocracy as the preferred mechanism for allocating wealth, power and privilege. All of these together comprise the sacred scripture of contemporary American political elites. And if Donald Trump's antagonists have their way, his removal will restore that sacred scripture to its proper place as the basis of policy. ..."
"... "For all their appeals to enduring moral values," Moyn writes, "the "neoliberal oligarchy" are deploying a transparent strategy to return to power." Destruction of the Trump presidency is a necessary precondition for achieving that goal. ""neoliberal oligarchy" simply want to return to the status quo interrupted by Trump, their reputations laundered by their courageous opposition to his mercurial reign, and their policies restored to credibility." Precisely. ..."
"... how does such misconduct compare to the calamities engineered by the "neoliberal oligarchy" who preceded him? ..."
"... Trump's critics speak with one voice in demanding accountability. Yet virtually no one has been held accountable for the pain, suffering, and loss inflicted by the architects of the Iraq War and the Great Recession. Why is that? As another presidential election approaches, the question not only goes unanswered, but unasked. ..."
"... To win reelection, Trump, a corrupt con man (who jumped ship on his own bankrupt casinos, money in hand, leaving others holding the bag) will cheat and lie. Yet, in the politics of the last half-century, these do not qualify as novelties. (Indeed, apart from being the son of a sitting U.S. vice president, what made Hunter Biden worth $50Gs per month to a gas company owned by a Ukrainian oligarch? I'm curious.) That the president and his associates are engaging in a cover-up is doubtless the case. Yet another cover-up proceeds in broad daylight on a vastly larger scale. "Trump's shambolic presidency somehow seems less unsavory," Moyn writes, when considering the fact that his critics refuse "to admit how massively his election signified the failure of their policies, from endless war to economic inequality." Just so. ..."
"... Exactly. Trump is the result of voter disgust with Bush III vs Clinton II, the presumed match up for a year or more leading up to 2016. Now Democrats want to do it again, thinking they can elect anybody against Trump. That's what Hillary thought too. ..."
"... Trump won for lack of alternatives. Our political class is determined to prevent any alternatives breaking through this time either. They don't want Trump, but even more they want to protect their gravy train of donor money, the huge overspending on medical care (four times the defense budget) and of course all those Forever Wars. ..."
"... Trump could win, for the same reasons as last time, even though the result would be no better than last time. ..."
"... I wish the slick I.D. politics obsessed corporate Dems nothing but the worst, absolute worst. They reap what they sow. If it means another four years of Trump, so be it. It's the price that's going to have to be paid. ..."
"... At a time when a majority of U.S. citizens cannot muster up $500 for an emergency dental bill or car repair without running down to the local "pay day loan" lender shark (now established as legitimate businesses) the corporate Dems, in their infinite wisdom, decide to concoct an impeachment circus to run simultaneously when all the dirt against the execrable Brennan and his intel minions starts to hit the press for their Russiagate hoax. Nice sleight of hand there corporate Dems. ..."
Oct 10, 2019 | consortiumnews.com

There is blood in the water and frenzied sharks are closing in for the kill. Or so they think.

From the time of Donald Trump's election, American elites have hungered for this moment. At long last, they have the 45th president of the United States cornered. In typically ham-handed fashion, Trump has given his adversaries the very means to destroy him politically. They will not waste the opportunity. Impeachment now -- finally, some will say -- qualifies as a virtual certainty.

No doubt many surprises lie ahead. Yet the Democrats controlling the House of Representatives have passed the point of no return. The time for prudential judgments -- the Republican-controlled Senate will never convict, so why bother? -- is gone for good. To back down now would expose the president's pursuers as spineless cowards. The New York Times, The Washington Post, CNN and MSNBC would not soon forgive such craven behavior.

So, as President Woodrow Wilson, speaking in 1919 put it, "The stage is set, the destiny disclosed. It has come about by no plan of our conceiving, but by the hand of God." Of course, the issue back then was a notably weighty one: whether to ratify the Versailles Treaty. That it now concerns a " Mafia-like shakedown " orchestrated by one of Wilson's successors tells us something about the trajectory of American politics over the course of the last century and it has not been a story of ascent.

The effort to boot the president from office is certain to yield a memorable spectacle. The rancor and contempt that have clogged American politics like a backed-up sewer since the day of Trump's election will now find release. Watergate will pale by comparison. The uproar triggered by Bill Clinton's " sexual relations " will be nothing by comparison. A de facto collaboration between Trump, those who despise him, and those who despise his critics all but guarantees that this story will dominate the news, undoubtedly for months to come.

As this process unspools, what politicians like to call "the people's business" will go essentially unattended. So while Congress considers whether or not to remove Trump from office, gun-control legislation will languish, the deterioration of the nation's infrastructure will proceed apace, needed healthcare reforms will be tabled, the military-industrial complex will waste yet more billions, and the national debt, already at $22 trillion -- larger, that is, than the entire economy -- will continue to surge. The looming threat posed by climate change, much talked about of late, will proceed all but unchecked. For those of us preoccupied with America's role in the world, the obsolete assumptions and habits undergirding what's still called " national security " will continue to evade examination. Our endless wars will remain endless and pointless.

By way of compensation, we might wonder what benefits impeachment is likely to yield. Answering that question requires examining four scenarios that describe the range of possibilities awaiting the nation.

The first and most to be desired (but least likely) is that Trump will tire of being a public piñata and just quit. With the thrill of flying in Air Force One having worn off, being president can't be as much fun these days. Why put up with further grief? How much more entertaining for Trump to retire to the political sidelines where he can tweet up a storm and indulge his penchant for name-calling. And think of the "deals" an ex-president could make in countries like Israel, North Korea, Poland, and Saudi Arabia on which he's bestowed favors. Cha-ching! As of yet, however, the president shows no signs of taking the easy (and lucrative) way out.

The second possible outcome sounds almost as good but is no less implausible: a sufficient number of Republican senators rediscover their moral compass and "do the right thing," joining with Democrats to create the two-thirds majority needed to convict Trump and send him packing. In the Washington of that classic 20th-century film director Frank Capra, with Jimmy Stewart holding forth on the Senate floor and a moist-eyed Jean Arthur cheering him on from the gallery, this might have happened. In the real Washington of "Moscow Mitch" McConnell , think again.

The third somewhat seamier outcome might seem a tad more likely. It postulates that McConnell and various GOP senators facing reelection in 2020 or 2022 will calculate that turning on Trump just might offer the best way of saving their own skins. The president's loyalty to just about anyone, wives included, has always been highly contingent, the people streaming out of his administration routinely making the point. So why should senatorial loyalty to the president be any different? At the moment, however, indications that Trump loyalists out in the hinterlands will reward such turncoats are just about nonexistent. Unless that base were to flip, don't expect Republican senators to do anything but flop.

That leaves outcome No. 4, easily the most probable: while the House will impeach, the Senate will decline to convict. Trump will therefore stay right where he is, with the matter of his fitness for office effectively deferred to the November 2020 elections. Except as a source of sadomasochistic diversion, the entire agonizing experience will, therefore, prove to be a colossal waste of time and blather.

Furthermore, Donald Trump might well emerge from this national ordeal with his reelection chances enhanced. Such a prospect is belatedly insinuating itself into public discourse. For that reason, certain anti-Trump pundits are already showing signs of going wobbly, suggesting , for instance, that censure rather than outright impeachment might suffice as punishment for the president's various offenses. Yet censuring Trump while allowing him to stay in office would be the equivalent of letting Harvey Weinstein off with a good tongue-lashing so that he can get back to making movies. Censure is for wimps.

Besides, as Trump campaigns for a second term, he would almost surely wear censure like a badge of honor. Keep in mind that Congress's approval ratings are considerably worse than his. To more than a few members of the public, a black mark awarded by Congress might look like a gold star.

Restoration Not Removal

So if Trump finds himself backed into a corner, Democrats aren't necessarily in a more favorable position. And that aren't the half of it. Let me suggest that, while Trump is being pursued, it's you, my fellow Americans, who are really being played. The unspoken purpose of impeachment is not removal, but restoration. The overarching aim is not to replace Trump with Mike Pence -- the equivalent of exchanging Groucho for Harpo. No, the object of the exercise is to return power to those who created the conditions that enabled Trump to win the White House in the first place.

Just recently, for instance, Hillary Clinton declared Trump to be an "illegitimate president." Implicit in her charge is the conviction -- no doubt sincere -- that people like Donald Trump are not supposed to be president. People like Hillary Clinton -- people possessing credentials like hers and sharing her values -- should be the chosen ones. Here we glimpse the true meaning of legitimacy in this context. Whatever the vote in the Electoral College, Trump doesn't deserve to be president and never did.

For many of the main participants in this melodrama, the actual but unstated purpose of impeachment is to correct this great wrong and thereby restore history to its anointed path.

In a recent column in The Guardian, Professor Samuel Moyn makes the essential point: Removing from office a vulgar, dishonest and utterly incompetent president comes nowhere close to capturing what's going on here. To the elites most intent on ousting Trump, far more important than anything he may say or do is what he signifies. He is a walking, talking repudiation of everything they believe and, by extension, of a future they had come to see as foreordained.

Moyn styles these anti-Trump elites as "neoliberal oligarchy", members of the post-Cold War political mainstream that allowed ample room for nominally conservative Bushes and nominally liberal Clintons, while leaving just enough space for Barack Obama's promise of hope-and-(not-too-much) change.

These "neoliberal oligarchy" share a common worldview. They believe in the universality of freedom as defined and practiced within the United States. They believe in corporate capitalism operating on a planetary scale. They believe in American primacy, with the United States presiding over a global order as the sole superpower. They believe in "American global leadership," which they define as primarily a military enterprise. And perhaps most of all, while collecting degrees from Georgetown, Harvard, Oxford, Wellesley, the University of Chicago, and Yale, they came to believe in a so-called meritocracy as the preferred mechanism for allocating wealth, power and privilege. All of these together comprise the sacred scripture of contemporary American political elites. And if Donald Trump's antagonists have their way, his removal will restore that sacred scripture to its proper place as the basis of policy.

"For all their appeals to enduring moral values," Moyn writes, "the "neoliberal oligarchy" are deploying a transparent strategy to return to power." Destruction of the Trump presidency is a necessary precondition for achieving that goal. ""neoliberal oligarchy" simply want to return to the status quo interrupted by Trump, their reputations laundered by their courageous opposition to his mercurial reign, and their policies restored to credibility." Precisely.

High Crimes and Misdemeanors

The U.S. military's "shock and awe" bombing of Baghdad at the start of the Iraq War, as broadcast on CNN.

For such a scheme to succeed, however, laundering reputations alone will not suffice. Equally important will be to bury any recollection of the catastrophes that paved the way for an über -qualified centrist to lose to an indisputably unqualified and unprincipled political novice in 2016.

Holding promised security assistance hostage unless a foreign leader agrees to do you political favors is obviously and indisputably wrong. Trump's antics regarding Ukraine may even meet some definition of criminal. Still, how does such misconduct compare to the calamities engineered by the "neoliberal oligarchy" who preceded him? Consider, in particular, the George W. Bush administration's decision to invade Iraq in 2003 (along with the spin-off wars that followed). Consider, too, the reckless economic policies that produced the Great Recession of 2007-2008. As measured by the harm inflicted on the American people (and others), the offenses for which Trump is being impeached qualify as mere misdemeanors.

Honest people may differ on whether to attribute the Iraq War to outright lies or monumental hubris. When it comes to tallying up the consequences, however, the intentions of those who sold the war don't particularly matter. The results include thousands of Americans killed; tens of thousands wounded, many grievously, or left to struggle with the effects of PTSD; hundreds of thousands of non-Americans killed or injured ; millions displaced ; trillions of dollars expended; radical groups like ISIS empowered (and in its case even formed inside a U.S. prison in Iraq); and the Persian Gulf region plunged into turmoil from which it has yet to recover. How do Trump's crimes stack up against these?

The Great Recession stemmed directly from economic policies implemented during the administration of President Bill Clinton and continued by his successor. Deregulating the banking sector was projected to produce a bonanza in which all would share. Yet, as a direct result of the ensuing chicanery, nearly 9 million Americans lost their jobs, while overall unemployment shot up to 10 percent. Roughly 4 million Americans lost their homes to foreclosure. The stock market cratered and millions saw their life savings evaporate. Again, the question must be asked: How do these results compare to Trump's dubious dealings with Ukraine?

Trump's critics speak with one voice in demanding accountability. Yet virtually no one has been held accountable for the pain, suffering, and loss inflicted by the architects of the Iraq War and the Great Recession. Why is that? As another presidential election approaches, the question not only goes unanswered, but unasked.

Sen. Carter Glass (D–Va.) and Rep. Henry B. Steagall (D–Ala.-3), the co-sponsors of the 1932 Glass–Steagall Act separating investment and commercial banking, which was repealed in 1999. (Wikimedia Commons)

To win reelection, Trump, a corrupt con man (who jumped ship on his own bankrupt casinos, money in hand, leaving others holding the bag) will cheat and lie. Yet, in the politics of the last half-century, these do not qualify as novelties. (Indeed, apart from being the son of a sitting U.S. vice president, what made Hunter Biden worth $50Gs per month to a gas company owned by a Ukrainian oligarch? I'm curious.) That the president and his associates are engaging in a cover-up is doubtless the case. Yet another cover-up proceeds in broad daylight on a vastly larger scale. "Trump's shambolic presidency somehow seems less unsavory," Moyn writes, when considering the fact that his critics refuse "to admit how massively his election signified the failure of their policies, from endless war to economic inequality." Just so.

What are the real crimes? Who are the real criminals? No matter what happens in the coming months, don't expect the Trump impeachment proceedings to come within a country mile of addressing such questions.

Andrew Bacevich, a TomDispatch regular , is president and co-founder of the Quincy Institute for Responsible Statecraft . His new book, " The Age of Illusions: How America Squandered Its Cold War Victory ," will be published in January.

This article is from TomDispatch.com .


Mark Thomason , October 9, 2019 at 17:03

Exactly. Trump is the result of voter disgust with Bush III vs Clinton II, the presumed match up for a year or more leading up to 2016. Now Democrats want to do it again, thinking they can elect anybody against Trump. That's what Hillary thought too.

Now the Republicans who lost their party to Trump think they can take it back with somebody even more lame than Jeb, if only they could find someone, anyone, to run on that non-plan.

Trump won for lack of alternatives. Our political class is determined to prevent any alternatives breaking through this time either. They don't want Trump, but even more they want to protect their gravy train of donor money, the huge overspending on medical care (four times the defense budget) and of course all those Forever Wars.

Trump could win, for the same reasons as last time, even though the result would be no better than last time.

LJ , October 9, 2019 at 17:01

Well, yeah but I recall that what won Trump the Republican Nomination was first and foremost his stance on Immigration. This issue is what separated him from the herd of candidates . None of them had the courage or the desire to go against Governmental Groupthink on Immigration. All he then had to do was get on top of low energy Jeb Bush and the road was clear. He got the base on his side on this issue and on his repeated statement that he wished to normalize relations with Russia . He won the nomination easily. The base is still on his side on these issues but Governmental Groupthink has prevailed in the House, the Senate, the Intelligence Services and the Federal Courts. Funny how nobody in the Beltway, especially not in media, is brave enough to admit that the entire Neoconservative scheme has been a disaster and that of course we should get out of Syria . Nor can anyone recall the corruption and warmongering that now seem that seems endemic to the Democratic Party. Of course Trump has to wear goat's horns. "Off with his head".

Drew Hunkins , October 9, 2019 at 16:00

I wish the slick I.D. politics obsessed corporate Dems nothing but the worst, absolute worst. They reap what they sow. If it means another four years of Trump, so be it. It's the price that's going to have to be paid.

At a time when a majority of U.S. citizens cannot muster up $500 for an emergency dental bill or car repair without running down to the local "pay day loan" lender shark (now established as legitimate businesses) the corporate Dems, in their infinite wisdom, decide to concoct an impeachment circus to run simultaneously when all the dirt against the execrable Brennan and his intel minions starts to hit the press for their Russiagate hoax. Nice sleight of hand there corporate Dems.

Of course, the corporate Dems would rather lose to Trump than win with a progressive-populist like Bernie. After all, a Bernie win would mean an end to a lot of careerism and cushy positions within the establishment political scene in Washington and throughout the country.

Now we even have the destroyer of Libya mulling another run for the presidency.

Forget about having a job the next day and forget about the 25% interest on your credit card or that half your income is going toward your rent or mortgage, or that you barely see your kids b/c of the 60 hour work week, just worry about women lawyers being able to make partner at the firm, and trans people being able to use whatever bathroom they wish and male athletes being able to compete against women based on genitalia (no, wait, I'm confused now).

Either class politics and class warfare comes front and center or we witness a burgeoning neo-fascist movement in our midst. It's that simple, something has got to give!

[Oct 05, 2019] Everything is fake in the current neoliberal discourse, be it political or economic, and it is not that easy to understand how they are deceiving us. Lies that are so sophisticated that often it is impossible to tell they are actually lies, not facts

Highly recommended!
Oct 05, 2019 | economistsview.typepad.com

likbez -> anne... , October 05, 2019 at 04:40 PM

Anne,

Let me serve as a devil advocate here.

Japan has a shrinking population. Can you explain to me why on the Earth they need economic growth?

This preoccupation with "growth" (with narrow and false one dimensional and very questionable measurements via GDP, which includes the FIRE sector) is a fallacy promoted by neoliberalism.

Neoliberalism proved to be quite sophisticated religions with its own set of True Believers in Eric Hoffer's terminology.

A lot of current economic statistics suffer from "mathiness".

For example, the narrow definition of unemployment used in U3 is just a classic example of pseudoscience in full bloom. It can be mentioned only if U6 mentioned first. Otherwise, this is another "opium for the people" ;-) An attempt to hide the real situation in the neoliberal "job market" in which has sustained real unemployment rate is always over 10% and which has a disappearing pool of well-paying middle-class jobs. Which produced current narco-epidemics (in 2018, 1400 people were shot in half a year in Chicago ( http://www.chicagotribune.com/news/breaking/ct-met-weekend-shooting-violence-20180709-story.html ); imagine that). While I doubt that people will hang Pelosi on the street post, her successor might not be so lucky ;-)

Everything is fake in the current neoliberal discourse, be it political or economic, and it is not that easy to understand how they are deceiving us. Lies that are so sophisticated that often it is impossible to tell they are actually lies, not facts. The whole neoliberal society is just big an Empire of Illusions, the kingdom of lies and distortions.

I would call it a new type of theocratic state if you wish.

And probably only one in ten, if not one in a hundred economists deserve to be called scientists. Most are charlatans pushing fake papers on useless conferences.

It is simply amazing that the neoliberal society, which is based on "universal deception," can exist for so long.

[Sep 22, 2019] Neoliberalism Political Success, Economic Failure Portside by Robert Kuttner

Highly recommended!
The key to the success of neoliberal was a bunch on bought intellectual prostitutes like Milton Friedman and the drive to occupy economic departments of the the universities using money from the financial elite. which along with think tank continued mercenary army of neoliberalism who fought and win the battle with weakened New Del capitalism supporters. After that neoliberalism was from those departments like the centers of infection via indoctrination of each new generation of students. Which is a classic mixture of Bolsheviks methods and Trotskyite theory adapted tot he need of financial oligarchy.
Essentially we see the tragedy of Lysenkoism replayed in the USA. When false theory supported by financial oligarchy and then state forcefully suppressed all other economic thought and became the only politically correct theory in the USA and Western Europe.
Notable quotes:
"... The neoliberal counterrevolution, in theory and policy, has reversed or undermined nearly every aspect of managed capitalism -- from progressive taxation, welfare transfers, and antitrust, to the empowerment of workers and the regulation of banks and other major industries. ..."
"... Neoliberalism's premise is that free markets can regulate themselves; that government is inherently incompetent, captive to special interests, and an intrusion on the efficiency of the market; that in distributive terms, market outcomes are basically deserved; and that redistribution creates perverse incentives by punishing the economy's winners and rewarding its losers. So government should get out of the market's way. ..."
"... Now, after nearly half a century, the verdict is in. Virtually every one of these policies has failed, even on their own terms. ..."
"... Economic power has resulted in feedback loops of political power, in which elites make rules that bolster further concentration. ..."
"... The culprit isn't just "markets" -- some impersonal force that somehow got loose again. This is a story of power using theory. The mixed economy was undone by economic elites, who revised rules for their own benefit. They invested heavily in friendly theorists to bless this shift as sound and necessary economics, and friendly politicians to put those theories into practice. ..."
"... The grand neoliberal experiment of the past 40 years has demonstrated that markets in fact do not regulate themselves. Managed markets turn out to be more equitable and more efficient. ..."
"... The British political economist Colin Crouch captured this anomaly in a book nicely titled The Strange Non-Death of Neoliberalism . Why did neoliberalism not die? As Crouch observed, neoliberalism failed both as theory and as policy, but succeeded superbly as power politics for economic elites. ..."
"... The neoliberal ascendance has had another calamitous cost -- to democratic legitimacy. As government ceased to buffer market forces, daily life has become more of a struggle for ordinary people. ..."
"... After the Berlin Wall came down in 1989, ours was widely billed as an era when triumphant liberal capitalism would march hand in hand with liberal democracy. But in a few brief decades, the ostensibly secure regime of liberal democracy has collapsed in nation after nation, with echoes of the 1930s. ..."
"... As the great political historian Karl Polanyi warned, when markets overwhelm society, ordinary people often turn to tyrants. In regimes that border on neofascist, klepto-capitalists get along just fine with dictators, undermining the neoliberal premise of capitalism and democracy as complements. ..."
"... Classically, the premise of a "free market" is that government simply gets out of the way. This is nonsensical, since all markets are creatures of rules, most fundamentally rules defining property, but also rules defining credit, debt, and bankruptcy; rules defining patents, trademarks, and copyrights; rules defining terms of labor; and so on. Even deregulation requires rules. In Polanyi's words, "laissez-faire was planned." ..."
"... Around the same time, the term neoconservative was used as a self-description by former liberals who embraced conservatism, on cultural, racial, economic, and foreign-policy grounds. Neoconservatives were neoliberals in economics. ..."
"... Lavishly funded centers and tenured chairs were underwritten by the Olin, Scaife, Bradley, and other far-right foundations to promote such variants of free-market theory as law and economics, public choice, rational choice, cost-benefit analysis, maximize-shareholder-value, and kindred schools of thought. These theories colonized several academic disciplines. All were variations on the claim that markets worked and that government should get out of the way. ..."
"... Market failure was dismissed as a rare special case; government failure was said to be ubiquitous. Theorists worked hand in glove with lobbyists and with public officials. But in every major case where neoliberal theory generated policy, the result was political success and economic failure. ..."
"... For example, supply-side economics became the justification for tax cuts, on the premise that taxes punished enterprise. ..."
"... Robert Bork's "antitrust paradox," holding that antitrust enforcement actually weakened competition, was used as the doctrine to sideline the Sherman and Clayton Acts. Supposedly, if government just got out of the way, market forces would remain more competitive because monopoly pricing would invite innovation and new entrants to the market. In practice, industry after industry became more heavily concentrated. ..."
"... Human capital theory, another variant of neoliberal application of markets to partly social questions, justified deregulating labor markets and crushing labor unions. Unions supposedly used their power to get workers paid more than their market worth. Likewise minimum wage laws. But the era of depressed wages has actually seen a decline in rates of productivity growth ..."
"... Financial deregulation is neoliberalism's most palpable deregulatory failure, but far from the only one ..."
"... Air travel has been a poster child for advocates of deregulation, but the actual record is mixed at best. Airline deregulation produced serial bankruptcies of every major U.S. airline, often at the cost of worker pay and pension funds. ..."
"... Ticket prices have declined on average over the past two decades, but the traveling public suffers from a crazy quilt of fares, declining service, shrinking seats and legroom, and exorbitant penalties for the perfectly normal sin of having to change plans. ..."
"... A similar example is the privatization of transportation services such as highways and even parking meters. In several Midwestern states, toll roads have been sold to private vendors. The governor who makes the deal gains a temporary fiscal windfall, while drivers end up paying higher tolls often for decades. Investment bankers who broker the deal also take their cut. Some of the money does go into highway improvements, but that could have been done more efficiently in the traditional way via direct public ownership and competitive bidding. ..."
"... The Affordable Care Act is a form of voucher. But the regulated private insurance markets in the ACA have not fully lived up to their promise, in part because of the extensive market power retained by private insurers and in part because the right has relentlessly sought to sabotage the program -- another political feedback loop. The sponsors assumed that competition would lower costs and increase consumer choice. But in too many counties, there are three or fewer competing plans, and in some cases just one. ..."
"... In practice, this degenerates into an infinite regress of regulator versus commercial profit-maximizer, reminiscent of Mad magazine's "Spy versus Spy," with the industry doing end runs to Congress to further rig the rules. Straight-ahead public insurance such as Medicare is generally far more efficient. ..."
"... Several forms of deregulation -- of airlines, trucking, and electric power -- began not under Reagan but under Carter. Financial deregulation took off under Bill Clinton. Democratic presidents, as much as Republicans, promoted trade deals that undermined social standards. Cost-benefit analysis by the Office of Information and Regulatory Affairs (OIRA) was more of a choke point under Barack Obama than under George W. Bush. ..."
"... Dozens of nations, from Latin America to East Asia, went through this cycle of boom, bust, and then IMF pile-on. Greece is still suffering the impact. ..."
"... In fact, Japan, South Korea, smaller Asian nations, and above all China had thrived by rejecting every major tenet of neoliberalism. Their capital markets were tightly regulated and insulated from foreign speculative capital. They developed world-class industries as state-led cartels that favored domestic production and supply. East Asia got into trouble only when it followed IMF dictates to throw open capital markets, and in the aftermath they recovered by closing those markets and assembling war chests of hard currency so that they'd never again have to go begging to the IMF ..."
"... The basic argument of neoliberalism can fit on a bumper sticker. Markets work; governments don't . If you want to embellish that story, there are two corollaries: Markets embody human freedom. And with markets, people basically get what they deserve; to alter market outcomes is to spoil the poor and punish the productive. That conclusion logically flows from the premise that markets are efficient. Milton Friedman became rich, famous, and influential by teasing out the several implications of these simple premises. ..."
"... The failed neoliberal experiment also makes the case not just for better-regulated capitalism but for direct public alternatives as well. Banking, done properly, especially the provision of mortgage finance, is close to a public utility. Much of it could be public. ..."
Aug 25, 2019 | portside.org
The invisible hand is more like a thumb on the scale for the world's elites. That's why market fundamentalism has been unmasked as bogus economics but keeps winning politically. This article appears in the Summer 2019 issue of The American Prospect magazine. Subscribe here .

Since the late 1970s, we've had a grand experiment to test the claim that free markets really do work best. This resurrection occurred despite the practical failure of laissez-faire in the 1930s, the resulting humiliation of free-market theory, and the contrasting success of managed capitalism during the three-decade postwar boom.

Yet when growth faltered in the 1970s, libertarian economic theory got another turn at bat. This revival proved extremely convenient for the conservatives who came to power in the 1980s. The neoliberal counterrevolution, in theory and policy, has reversed or undermined nearly every aspect of managed capitalism -- from progressive taxation, welfare transfers, and antitrust, to the empowerment of workers and the regulation of banks and other major industries.

Neoliberalism's premise is that free markets can regulate themselves; that government is inherently incompetent, captive to special interests, and an intrusion on the efficiency of the market; that in distributive terms, market outcomes are basically deserved; and that redistribution creates perverse incentives by punishing the economy's winners and rewarding its losers. So government should get out of the market's way.

By the 1990s, even moderate liberals had been converted to the belief that social objectives can be achieved by harnessing the power of markets. Intermittent periods of governance by Democratic presidents slowed but did not reverse the slide to neoliberal policy and doctrine. The corporate wing of the Democratic Party approved.

Now, after nearly half a century, the verdict is in. Virtually every one of these policies has failed, even on their own terms. Enterprise has been richly rewarded, taxes have been cut, and regulation reduced or privatized. The economy is vastly more unequal, yet economic growth is slower and more chaotic than during the era of managed capitalism. Deregulation has produced not salutary competition, but market concentration. Economic power has resulted in feedback loops of political power, in which elites make rules that bolster further concentration.

The culprit isn't just "markets" -- some impersonal force that somehow got loose again. This is a story of power using theory. The mixed economy was undone by economic elites, who revised rules for their own benefit. They invested heavily in friendly theorists to bless this shift as sound and necessary economics, and friendly politicians to put those theories into practice.

Recent years have seen two spectacular cases of market mispricing with devastating consequences: the near-depression of 2008 and irreversible climate change. The economic collapse of 2008 was the result of the deregulation of finance. It cost the real U.S. economy upwards of $15 trillion (and vastly more globally), depending on how you count, far more than any conceivable efficiency gain that might be credited to financial innovation. Free-market theory presumes that innovation is necessarily benign. But much of the financial engineering of the deregulatory era was self-serving, opaque, and corrupt -- the opposite of an efficient and transparent market.

The existential threat of global climate change reflects the incompetence of markets to accurately price carbon and the escalating costs of pollution. The British economist Nicholas Stern has aptly termed the worsening climate catastrophe history's greatest case of market failure. Here again, this is not just the result of failed theory. The entrenched political power of extractive industries and their political allies influences the rules and the market price of carbon. This is less an invisible hand than a thumb on the scale. The premise of efficient markets provides useful cover.

The grand neoliberal experiment of the past 40 years has demonstrated that markets in fact do not regulate themselves. Managed markets turn out to be more equitable and more efficient. Yet the theory and practical influence of neoliberalism marches splendidly on, because it is so useful to society's most powerful people -- as a scholarly veneer to what would otherwise be a raw power grab. The British political economist Colin Crouch captured this anomaly in a book nicely titled The Strange Non-Death of Neoliberalism . Why did neoliberalism not die? As Crouch observed, neoliberalism failed both as theory and as policy, but succeeded superbly as power politics for economic elites.

The neoliberal ascendance has had another calamitous cost -- to democratic legitimacy. As government ceased to buffer market forces, daily life has become more of a struggle for ordinary people. The elements of a decent middle-class life are elusive -- reliable jobs and careers, adequate pensions, secure medical care, affordable housing, and college that doesn't require a lifetime of debt. Meanwhile, life has become ever sweeter for economic elites, whose income and wealth have pulled away and whose loyalty to place, neighbor, and nation has become more contingent and less reliable.

Large numbers of people, in turn, have given up on the promise of affirmative government, and on democracy itself. After the Berlin Wall came down in 1989, ours was widely billed as an era when triumphant liberal capitalism would march hand in hand with liberal democracy. But in a few brief decades, the ostensibly secure regime of liberal democracy has collapsed in nation after nation, with echoes of the 1930s.

As the great political historian Karl Polanyi warned, when markets overwhelm society, ordinary people often turn to tyrants. In regimes that border on neofascist, klepto-capitalists get along just fine with dictators, undermining the neoliberal premise of capitalism and democracy as complements. Several authoritarian thugs, playing on tribal nationalism as the antidote to capitalist cosmopolitanism, are surprisingly popular.

It's also important to appreciate that neoliberalism is not laissez-faire. Classically, the premise of a "free market" is that government simply gets out of the way. This is nonsensical, since all markets are creatures of rules, most fundamentally rules defining property, but also rules defining credit, debt, and bankruptcy; rules defining patents, trademarks, and copyrights; rules defining terms of labor; and so on. Even deregulation requires rules. In Polanyi's words, "laissez-faire was planned."

The political question is who gets to make the rules, and for whose benefit. The neoliberalism of Friedrich Hayek and Milton Friedman invoked free markets, but in practice the neoliberal regime has promoted rules created by and for private owners of capital, to keep democratic government from asserting rules of fair competition or countervailing social interests. The regime has rules protecting pharmaceutical giants from the right of consumers to import prescription drugs or to benefit from generics. The rules of competition and intellectual property generally have been tilted to protect incumbents. Rules of bankruptcy have been tilted in favor of creditors. Deceptive mortgages require elaborate rules, written by the financial sector and then enforced by government. Patent rules have allowed agribusiness and giant chemical companies like Monsanto to take over much of agriculture -- the opposite of open markets. Industry has invented rules requiring employees and consumers to submit to binding arbitration and to relinquish a range of statutory and common-law rights.

Neoliberalism as Theory, Policy, and Power

It's worth taking a moment to unpack the term "neoliberalism." The coinage can be confusing to American ears because the "liberal" part refers not to the word's ordinary American usage, meaning moderately left-of-center, but to classical economic liberalism otherwise known as free-market economics. The "neo" part refers to the reassertion of the claim that the laissez-faire model of the economy was basically correct after all.

Few proponents of these views embraced the term neoliberal . Mostly, they called themselves free-market conservatives. "Neoliberal" was a coinage used mainly by their critics, sometimes as a neutral descriptive term, sometimes as an epithet. The use became widespread in the era of Margaret Thatcher and Ronald Reagan.

To add to the confusion, a different and partly overlapping usage was advanced in the 1970s by the group around the Washington Monthly magazine. They used "neoliberal" to mean a new, less statist form of American liberalism. Around the same time, the term neoconservative was used as a self-description by former liberals who embraced conservatism, on cultural, racial, economic, and foreign-policy grounds. Neoconservatives were neoliberals in economics.

Beginning in the 1970s, resurrected free-market theory was interwoven with both conservative politics and significant investments in the production of theorists and policy intellectuals. This occurred not just in well-known conservative think tanks such as the American Enterprise Institute, Heritage, Cato, and the Manhattan Institute, but through more insidious investments in academia. Lavishly funded centers and tenured chairs were underwritten by the Olin, Scaife, Bradley, and other far-right foundations to promote such variants of free-market theory as law and economics, public choice, rational choice, cost-benefit analysis, maximize-shareholder-value, and kindred schools of thought. These theories colonized several academic disciplines. All were variations on the claim that markets worked and that government should get out of the way.

Each of these bodies of sub-theory relied upon its own variant of neoliberal ideology. An intensified version of the theory of comparative advantage was used not just to cut tariffs but to use globalization as all-purpose deregulation. The theory of maximizing shareholder value was deployed to undermine the entire range of financial regulation and workers' rights. Cost-benefit analysis, emphasizing costs and discounting benefits, was used to discredit a good deal of health, safety, and environmental regulation. Public choice theory, associated with the economist James Buchanan and an entire ensuing school of economics and political science, was used to impeach democracy itself, on the premise that policies were hopelessly afflicted by "rent-seekers" and "free-riders."

Click here to read how Robert Kuttner has been unmasking the fallacies of neoliberalism for decades

Market failure was dismissed as a rare special case; government failure was said to be ubiquitous. Theorists worked hand in glove with lobbyists and with public officials. But in every major case where neoliberal theory generated policy, the result was political success and economic failure.

For example, supply-side economics became the justification for tax cuts, on the premise that taxes punished enterprise. Supposedly, if taxes were cut, especially taxes on capital and on income from capital, the resulting spur to economic activity would be so potent that deficits would be far less than predicted by "static" economic projections, and perhaps even pay for themselves. There have been six rounds of this experiment, from the tax cuts sponsored by Jimmy Carter in 1978 to the immense 2017 Tax Cuts and Jobs Act signed by Donald Trump. In every case some economic stimulus did result, mainly from the Keynesian jolt to demand, but in every case deficits increased significantly. Conservatives simply stopped caring about deficits. The tax cuts were often inefficient as well as inequitable, since the loopholes steered investment to tax-favored uses rather than the most economically logical ones. Dozens of America's most profitable corporations paid no taxes.

Robert Bork's "antitrust paradox," holding that antitrust enforcement actually weakened competition, was used as the doctrine to sideline the Sherman and Clayton Acts. Supposedly, if government just got out of the way, market forces would remain more competitive because monopoly pricing would invite innovation and new entrants to the market. In practice, industry after industry became more heavily concentrated. Incumbents got in the habit of buying out innovators or using their market power to crush them. This pattern is especially insidious in the tech economy of platform monopolies, where giants that provide platforms, such as Google and Amazon, use their market power and superior access to customer data to out-compete rivals who use their platforms. Markets, once again, require rules beyond the benign competence of the market actors themselves. Only democratic government can set equitable rules. And when democracy falters, undemocratic governments in cahoots with corrupt private plutocrats will make the rules.

Human capital theory, another variant of neoliberal application of markets to partly social questions, justified deregulating labor markets and crushing labor unions. Unions supposedly used their power to get workers paid more than their market worth. Likewise minimum wage laws. But the era of depressed wages has actually seen a decline in rates of productivity growth. Conversely, does any serious person think that the inflated pay of the financial moguls who crashed the economy accurately reflects their contribution to economic activity? In the case of hedge funds and private equity, the high incomes of fund sponsors are the result of transfers of wealth and income from employees, other stakeholders, and operating companies to the fund managers, not the fruits of more efficient management.

There is a broad literature discrediting this body of pseudo-scholarly work in great detail. Much of neoliberalism represents the ever-reliable victory of assumption over evidence. Yet neoliberal theory lived on because it was so convenient for elites, and because of the inertial power of the intellectual capital that had been created. The well-funded neoliberal habitat has provided comfortable careers for two generations of scholars and pseudo-scholars who migrate between academia, think tanks, K Street, op-ed pages, government, Wall Street, and back again. So even if the theory has been demolished both by scholarly rebuttal and by events, it thrives in powerful institutions and among their political allies.

The Practical Failure of Neoliberal Policies

Financial deregulation is neoliberalism's most palpable deregulatory failure, but far from the only one. Electricity deregulation on balance has increased monopoly power and raised costs to consumers, but has failed to offer meaningful "shopping around" opportunities to bring down prices. We have gone from regulated monopolies with predictable earnings, costs, wages, and consumer protections to deregulated monopolies or oligopolies with substantial pricing power. Since the Bell breakup, the telephone system tells a similar story of re-concentration, dwindling competition, price-gouging, and union-bashing.

Air travel has been a poster child for advocates of deregulation, but the actual record is mixed at best. Airline deregulation produced serial bankruptcies of every major U.S. airline, often at the cost of worker pay and pension funds.

Ticket prices have declined on average over the past two decades, but the traveling public suffers from a crazy quilt of fares, declining service, shrinking seats and legroom, and exorbitant penalties for the perfectly normal sin of having to change plans. Studies have shown that fares actually declined at a faster rate in the 20 years before deregulation in 1978 than in the 20 years afterward, because the prime source of greater efficiency in airline travel is the introduction of more fuel-efficient planes.

The roller-coaster experience of airline profits and losses has reduced the capacity of airlines to purchase more fuel-efficient aircraft, and the average age of the fleet keeps increasing. The use of "fortress hubs" to defend market pricing power has reduced the percentage of nonstop flights, the most efficient way to fly from one point to another.

Robert Bork's spurious arguments that antitrust enforcement hurt competition became the basis for dismantling antitrust. Massive concentration resulted. Charles Tasnadi/AP Photo

In addition to deregulation, three prime areas of practical neoliberal policies are the use of vouchers as "market-like" means to social goals, the privatization of public services, and the use of tax subsides rather than direct outlays. In every case, government revenues are involved, so this is far from a free market to begin with. But the premise is that market disciplines can achieve public purposes more efficiently than direct public provision.

The evidence provides small comfort for these claims. One core problem is that the programs invariably give too much to the for-profit middlemen at the expense of the intended beneficiaries. A related problem is that the process of using vouchers and contracts invites corruption. It is a different form of "rent-seeking" -- pursuit of monopoly profits -- than that attributed to government by public choice theorists, but corruption nonetheless. Often, direct public provision is far more transparent and accountable than a web of contractors.

A further problem is that in practice there is often far less competition than imagined, because of oligopoly power, vendor lock-in, and vendor political influence. These experiments in marketization to serve social goals do not operate in some Platonic policy laboratory, where the only objective is true market efficiency yoked to the public good. They operate in the grubby world of practical politics, where the vendors are closely allied with conservative politicians whose purposes may be to discredit social transfers entirely, or to reward corporate allies, or to benefit from kickbacks either directly or as campaign contributions.

Privatized prisons are a case in point. A few large, scandal-ridden companies have gotten most of the contracts, often through political influence. Far from bringing better quality and management efficiency, they have profited by diverting operating funds and worsening conditions that were already deplorable, and finding new ways to charge inmates higher fees for necessary services such as phone calls. To the extent that money was actually saved, most of the savings came from reducing the pay and professionalism of guards, increasing overcrowding, and decreasing already inadequate budgets for food and medical care.

A similar example is the privatization of transportation services such as highways and even parking meters. In several Midwestern states, toll roads have been sold to private vendors. The governor who makes the deal gains a temporary fiscal windfall, while drivers end up paying higher tolls often for decades. Investment bankers who broker the deal also take their cut. Some of the money does go into highway improvements, but that could have been done more efficiently in the traditional way via direct public ownership and competitive bidding.

Housing vouchers substantially reward landlords who use the vouchers to fill empty houses with poor people until the neighborhood gentrifies, at which point the owner is free to quit the program and charge market rentals. Thus public funds are used to underwrite a privately owned, quasi-social housing sector -- whose social character is only temporary. No permanent social housing is produced despite the extensive public outlay. The companion use of tax incentives to attract passive investment in affordable housing promotes economically inefficient tax shelters, and shunts public funds into the pockets of the investors -- money that might otherwise have gone directly to the housing.

The Affordable Care Act is a form of voucher. But the regulated private insurance markets in the ACA have not fully lived up to their promise, in part because of the extensive market power retained by private insurers and in part because the right has relentlessly sought to sabotage the program -- another political feedback loop. The sponsors assumed that competition would lower costs and increase consumer choice. But in too many counties, there are three or fewer competing plans, and in some cases just one.

As more insurance plans and hospital systems become for-profit, massive investment goes into such wasteful activities as manipulation of billing, "risk selection," and other gaming of the rules. Our mixed-market system of health care requires massive regulation to work with tolerable efficiency. In practice, this degenerates into an infinite regress of regulator versus commercial profit-maximizer, reminiscent of Mad magazine's "Spy versus Spy," with the industry doing end runs to Congress to further rig the rules. Straight-ahead public insurance such as Medicare is generally far more efficient.

An extensive literature has demonstrated that for-profit voucher schools do no better and often do worse than comparable public schools, and are vulnerable to multiple forms of gaming and corruption. Proprietors of voucher schools are superb at finding ways of excluding costly special-needs students, so that those costs are imposed on what remains of public schools; they excel at gaming test results. While some voucher and charter schools, especially nonprofit ones, sometimes improve on average school performance, so do many public schools. The record is also muddied by the fact that many ostensibly nonprofit schools contract out management to for-profit companies.

Tax preferences have long been used ostensibly to serve social goals. The Earned Income Tax Credit is considered one of the more successful cases of using market-like measures -- in this case a refundable tax credit -- to achieve the social goal of increasing worker take-home pay. It has also been touted as the rare case of bipartisan collaboration. Liberals get more money for workers. Conservatives get to reward the deserving poor, since the EITC is conditioned on employment. Conservatives get a further ideological win, since the EITC is effectively a wage subsidy from the government, but is experienced as a tax refund rather than a benefit of government.

Recent research, however, shows that the EITC is primarily a subsidy of low-wage employers, who are able to pay their workers a lot less than a market-clearing wage. In industries such as nursing homes or warehouses, where many workers qualified for the EITC work side by side with ones not eligible, the non-EITC workers get substandard wages. The existence of the EITC depresses the level of the wages that have to come out of the employer's pocket.

Neoliberalism's Influence on Liberals

As free-market theory resurged, many moderate liberals embraced these policies. In the inflationary 1970s, regulation became a scapegoat that supposedly deterred salutary price competition. Some, such as economist Alfred Kahn, President Carter's adviser on deregulation, supported deregulation on what he saw as the merits. Other moderates supported neoliberal policies opportunistically, to curry favor with powerful industries and donors. Market-like policies were also embraced by liberals as a tactical way to find common ground with conservatives.

Several forms of deregulation -- of airlines, trucking, and electric power -- began not under Reagan but under Carter. Financial deregulation took off under Bill Clinton. Democratic presidents, as much as Republicans, promoted trade deals that undermined social standards. Cost-benefit analysis by the Office of Information and Regulatory Affairs (OIRA) was more of a choke point under Barack Obama than under George W. Bush.

"Command and control" became an all-purpose pejorative for disparaging perfectly sensible and efficient regulation. "Market-like" became a fashionable concept, not just on the free-market right but on the moderate left. Cass Sunstein, who served as Obama's anti-regulation czar,uses the example of "nudges" as a more market-like and hence superior alternative to direct regulation, though with rare exceptions their impact is trivial. Moreover, nudges only work in tandem with regulation.

There are indeed some interventionist policies that use market incentives to serve social goals. But contrary to free-market theory, the market-like incentives first require substantial regulation and are not a substitute for it. A good example is the Clean Air Act Amendments of 1990, which used tradable emission rights to cut the output of sulfur dioxide, the cause of acid rain. This was supported by both the George H.W. Bush administration and by leading Democrats. But before the trading regime could work, Congress first had to establish permissible ceilings on sulfur dioxide output -- pure command and control.

There are many other instances, such as nutrition labeling, truth-in-lending, and disclosure of EPA gas mileage results, where the market-like premise of a better-informed consumer complements command regulation but is no substitute for it. Nearly all of the increase in fuel efficiency, for example, is the result of command regulations that require auto fleets to hit a gas mileage target. The fact that EPA gas mileage figures are prominently disclosed on new car stickers may have modest influence, but motor fuels are so underpriced that car companies have success selling gas-guzzlers despite the consumer labeling.

Image removed

Bill Clinton and his Treasury Secretary, Robert Rubin, were big promoters of financial deregulation.

Politically, whatever rationale there was for liberals to make common ground with libertarians is now largely gone. The authors of the 2017 Tax Cuts and Jobs Act made no attempt to meet Democrats partway; they excluded the opposition from the legislative process entirely. This was opportunistic tax cutting for elites, pure and simple. The right today also abandoned the quest for a middle ground on environmental policy, on anti-poverty policy, on health policy -- on virtually everything. Neoliberal ideology did its historic job of weakening intellectual and popular support for the proposition that affirmative government can better the lives of citizens and that the Democratic Party is a reliable steward of that social compact. Since Reagan, the right's embrace of the free market has evolved from partly principled idealism into pure opportunism and obstruction.

Neoliberalism and Hyper-Globalism

The post-1990 rules of globalization, supported by conservatives and moderate liberals alike, are the quintessence of neoliberalism. At Bretton Woods in 1944, the use of fixed exchange rates and controls on speculative private capital, plus the creation of the IMFand World Bank, were intended to allow member countries to practice national forms of managed capitalism, insulated from the destructive and deflationary influences of short-term speculative private capital flows. As doctrine and power shifted in the 1970s, the IMF, the World Bank, and later the WTO, which replaced the old GATT, mutated into their ideological opposite. Rather than instruments of support for mixed national economies, they became enforcers of neoliberal policies.

The standard package of the "Washington Consensus" of approved policies for developing nations included demands that they open their capital markets to speculative private finance, as well as cutting taxes on capital, weakening social transfers, and gutting labor regulation and public ownership. But private capital investment in poor countries proved to be fickle. The result was often excessive inflows during the boom part of the cycle and punitive withdrawals during the bust -- the opposite of the patient, long-term development capital that these countries needed and that was provided by the World Bank of an earlier era. During the bust phase, the IMF typically imposes even more stringent neoliberal demands as the price of financial bailouts, including perverse budgetary austerity, supposedly to restore the confidence of the very speculative capital markets responsible for the boom-bust cycle.

Dozens of nations, from Latin America to East Asia, went through this cycle of boom, bust, and then IMF pile-on. Greece is still suffering the impact. After 1990, hyper-globalism also included trade treaties whose terms favored multinational corporations. Traditionally, trade agreements had been mainly about reciprocal reductions of tariffs. Nations were free to have whatever brand of regulation, public investment, or social policies they chose. With the advent of the WTO, many policies other than tariffs were branded as trade distorting, even as takings without compensation. Trade deals were used to give foreign capital free access and to dismantle national regulation and public ownership. Special courts were created in which foreign corporations and investors could do end runs around national authorities to challenge regulation for impeding commerce.

At first, the sponsors of the new trade regime tried to claim the successful economies of East Asia as evidence of the success of the neoliberal recipe. Supposedly, these nations had succeeded by pursuing "export-led growth," exposing their domestic economies to salutary competition. But these claims were soon exposed as the opposite of what had actually occurred. In fact, Japan, South Korea, smaller Asian nations, and above all China had thrived by rejecting every major tenet of neoliberalism. Their capital markets were tightly regulated and insulated from foreign speculative capital. They developed world-class industries as state-led cartels that favored domestic production and supply. East Asia got into trouble only when it followed IMF dictates to throw open capital markets, and in the aftermath they recovered by closing those markets and assembling war chests of hard currency so that they'd never again have to go begging to the IMF. Enthusiasts of hyper-globalization also claimed that it benefited poor countries by increasing export opportunities, but as the success of East Asia shows, there is more than one way to boost exports -- and many poorer countries suffered under the terms of the global neoliberal regime.

Nor was the damage confined to the developing world. As the work of Harvard economist Dani Rodrik has demonstrated, democracy requires a polity. For better or for worse, the polity and democratic citizenship are national. By enhancing the global market at the expense of the democratic state, the current brand of hyper-globalization deliberately weakens the capacity of states to regulate markets, and weakens democracy itself.

When Do Markets Work?

The failure of neoliberalism as economic and social policy does not mean that markets never work. A command economy is even more utopian and perverse than a neoliberal one. The practical quest is for an efficient and equitable middle ground.

The neoliberal story of how the economy operates assumes a largely frictionless marketplace, where prices are set by supply and demand, and the price mechanism allocates resources to their optimal use in the economy as a whole. For this discipline to work as advertised, however, there can be no market power, competition must be plentiful, sellers and buyers must have roughly equal information, and there can be no significant externalities. Much of the 20th century was practical proof that these conditions did not describe a good part of the actual economy. And if markets priced things wrong, the market system did not aggregate to an efficient equilibrium, and depressions could become self-deepening. As Keynes demonstrated, only a massive jolt of government spending could restart the engines, even if market pricing was partly violated in the process.

Nonetheless, in many sectors of the economy, the process of buying and selling is close enough to the textbook conditions of perfect competition that the price system works tolerably well. Supermarkets, for instance, deliver roughly accurate prices because of the consumer's freedom and knowledge to shop around. Likewise much of retailing. However, when we get into major realms of the economy with positive or negative externalities, such as education and health, markets are not sufficient. And in other major realms, such as pharmaceuticals, where corporations use their political power to rig the terms of patents, the market doesn't produce a cure.

The basic argument of neoliberalism can fit on a bumper sticker. Markets work; governments don't . If you want to embellish that story, there are two corollaries: Markets embody human freedom. And with markets, people basically get what they deserve; to alter market outcomes is to spoil the poor and punish the productive. That conclusion logically flows from the premise that markets are efficient. Milton Friedman became rich, famous, and influential by teasing out the several implications of these simple premises.

It is much harder to articulate the case for a mixed economy than the case for free markets, precisely because the mixed economy is mixed. The rebuttal takes several paragraphs. The more complex story holds that markets are substantially efficient in some realms but far from efficient in others, because of positive and negative externalities, the tendency of financial markets to create cycles of boom and bust, the intersection of self-interest and corruption, the asymmetry of information between company and consumer, the asymmetry of power between corporation and employee, the power of the powerful to rig the rules, and the fact that there are realms of human life (the right to vote, human liberty, security of one's person) that should not be marketized.

And if markets are not perfectly efficient, then distributive questions are partly political choices. Some societies pay pre-K teachers the minimum wage as glorified babysitters. Others educate and compensate them as professionals. There is no "correct" market-derived wage, because pre-kindergarten is a social good and the issue of how to train and compensate teachers is a social choice, not a market choice. The same is true of the other human services, including medicine. Nor is there a theoretically correct set of rules for patents, trademarks, and copyrights. These are politically derived, either balancing the interests of innovation with those of diffusion -- or being politically captured by incumbent industries.

Governments can in principle improve on market outcomes via regulation, but that fact is complicated by the risk of regulatory capture. So another issue that arises is market failure versus polity failure, which brings us back to the urgency of strong democracy and effective government.

After Neoliberalism

The political reversal of neoliberalism can only come through practical politics and policies that demonstrate how government often can serve citizens more equitably and efficiently than markets. Revision of theory will take care of itself. There is no shortage of dissenting theorists and empirical policy researchers whose scholarly work has been vindicated by events. What they need is not more theory but more influence, both in the academy and in the corridors of power. They are available to advise a new progressive administration, if that administration can get elected and if it refrains from hiring neoliberal advisers.

There are also some relatively new areas that invite policy innovation. These include regulation of privacy rights versus entrepreneurial liberties in the digital realm; how to think of the internet as a common carrier; how to update competition and antitrust policy as platform monopolies exert new forms of market power; how to modernize labor-market policy in the era of the gig economy; and the role of deeper income supplements as machines replace human workers.

The failed neoliberal experiment also makes the case not just for better-regulated capitalism but for direct public alternatives as well. Banking, done properly, especially the provision of mortgage finance, is close to a public utility. Much of it could be public. A great deal of research is done more honestly and more cost-effectively in public, peer-reviewed institutions such as the NIH than by a substantially corrupt private pharmaceutical industry.

Social housing often is more cost-effective than so-called public-private partnerships. Public power is more efficient to generate, less prone to monopolistic price-gouging, and friendlier to the needed green transition than private power. The public option in health care is far more efficient than the current crazy quilt in which each layer of complexity adds opacity and cost. Public provision does require public oversight, but that is more straightforward and transparent than the byzantine dance of regulation and counter-regulation.

The two other benefits of direct public provision are that the public gets direct evidence of government delivering something of value, and that the countervailing power of democracy to harness markets is enhanced. A mixed economy depends above all on a strong democracy -- one even stronger than the democracy that succumbed to the corrupting influence of economic elites and their neoliberal intellectual allies beginning half a century ago. The antidote to the resurrected neoliberal fable is the resurrection of democracy -- strong enough to tame the market in a way that tames it for keeps.


Robert Kuttner is co-founder and co-editor of The American Prospect, and professor at Brandeis University's Heller School. His latest book is The Stakes: 2020 and the Survival of American Democracy . In addition to writing for the Prospect, he writes for HuffPost, The Boston Globe, and The New York Review of Books.

Read the original article at Prospect.org.

Used with the permission. © The American Prospect, Prospect.org, 2019. All rights reserved.

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[Sep 22, 2019] It was neoliberalism that won the cold war

Highly recommended!
Notable quotes:
"... As for the USSR, the Soviet elite changed sides. I think Putin once said that Soviet system was "unviable" to begin with. And that's pretty precise diagnosis: as soon as the theocratic elite degenerates, it defects; and the state and the majority of the population eventually fall on their own sword. ..."
"... And the USSR clearly was a variation of a theocratic state. That explain also a very high, damaging the economy, level of centralization (the country as a single corporation) and the high level of ideology/religion-based repression (compare with Iran and Islamic state jihadists.) ..."
"... So after the WWII the ideology of Bolshevism was dead as it became clear that Soviet style theocratic state is unable to produce standard of living which Western social democracies were able to produce for their citizens. Rapid degeneration of the theocratic Bolshevik elite (aka Nomenklatura) also played an important role. ..."
"... It is important to understand that the Soviet elite changed sides completely voluntarily. Paradoxically it was high level of KGB functionaries who were instrumental in conversion to neoliberalism, starting with Andropov. It was Andropov, who created the plan of transition of the USSR to neoliberalism, the plan that Gorbachov tried to implement and miserably failed. ..."
"... So the system exploded from within because the Party elite became infected with neoliberalism (which was stupid, but reflects the level of degeneration of the Soviet elite). ..."
"... The major USA contribution other then supplying the new ideology for the Soviet elite was via CIA injecting God know how much money to bribe top officials. ..."
"... As Gorbachov was a second rate (if not the third rate) politician, he allowed the situation to run out of control. And the efforts to "rock" the system were fueled internally by emerging (as the result of Perestroika; which was a reincarnation of Lenin's idea of NEP) class of neoliberal Nouveau riche (which run the USSR "shadow economy" which emerged under Brezhnev) and by nationalist sentiments (those element were clearly supported by the USA and other Western countries money as well as via subversive efforts of national diaspora residing in the USA and Canada) and certain national minorities within the USSR. ..."
"... The brutal economic rape of the xUSSR space and generally of the whole former Soviet block by the "collective neoliberal West" naturally followed. Which had shown everybody that the vanguard of Perestroika were simply filthy compradors, who can't care less about regular citizens and their sufferings. ..."
"... BTW this huge amount of loot postponed the internal crisis of neoliberalism which happened in the USA in 2008 probably by ten years. And it (along with a couple of other factors such as telecommunication revolution) explain relative prosperity of Clinton presidency. Criminal Clinton presidency I should say. ..."
"... BTW few republics in former USSR space managed to achieve the standard of living equal to the best years of the USSR (early 80th I think) See https://web.williams.edu/Economics/brainerd/papers/ussr_july08.pdf ..."
"... Generally when the particular ideology collapses, far right nationalism fills the void. We see this now with the slow collapse of neoliberalism in the USA and Western Europe. ..."
"... Chinese learned a lot from Gorbachov's fatal mistakes and have better economic results as the result of the conversion to the neoliberalism ("from the above"), although at the end Chinese elite is not that different from Soviet elite and also is corruptible and can eventually change sides. ..."
"... But they managed to survive the "triumphal march of neoliberalism" (1980-2000) and now the danger is less as neoliberalism is clearly the good with expired "use by" date: after 2008 the neoliberal ideology was completely discredited and entered "zombie" state. ..."
Sep 08, 2019 | economistsview.typepad.com

likbez -> ilsm... , September 08, 2019 at 08:20 PM

This is a very complex issue. And I do not pretend that I am right, but I think Brad is way too superficial to be taken seriously.

IMHO it was neoliberalism that won the cold war. That means that the key neoliberal "scholars" like Friedman and Hayek and other intellectual prostitutes of financial oligarchy who helped to restore their power. Certain democratic politicians like Carter also were the major figures. Carter actually started neoliberalization of the USA, continued by Reagan,

Former Trotskyites starting from Burnham which later became known as neoconservatives also deserve to be mentioned.

It is also questionable that the USA explicitly won the cold war. Paradoxically the other victim of the global neoliberal revolution was the USA, the lower 90% of the USA population to be exact.
So there was no winners other the financial oligarchy (the transnational class.)

As for the USSR, the Soviet elite changed sides. I think Putin once said that Soviet system was "unviable" to begin with. And that's pretty precise diagnosis: as soon as the theocratic elite degenerates, it defects; and the state and the majority of the population eventually fall on their own sword.

And the USSR clearly was a variation of a theocratic state. That explain also a very high, damaging the economy, level of centralization (the country as a single corporation) and the high level of ideology/religion-based repression (compare with Iran and Islamic state jihadists.)

The degeneration started with the death of the last charismatic leader (Stalin) and the passing of the generation which remembers that actual warts of capitalism and could relate them to the "Soviet socialism" solutions.

So after the WWII the ideology of Bolshevism was dead as it became clear that Soviet style theocratic state is unable to produce standard of living which Western social democracies were able to produce for their citizens. Rapid degeneration of the theocratic Bolshevik elite (aka Nomenklatura) also played an important role.

With bolshevism as the official religion, which can't be questioned, the society was way too rigid and suppressed "entrepreneurial initiative" (which leads to enrichment of particular individuals, but also to the benefits to the society as whole), to the extent that was counterproductive. The level of dogmatism in this area was probably as close to the medieval position of Roman Catholic Church as we can get; in this sense it was only national that Cardinal Karol Wojtyla became a pope John Paul II -- he was very well prepared indeed ;-).

It is important to understand that the Soviet elite changed sides completely voluntarily. Paradoxically it was high level of KGB functionaries who were instrumental in conversion to neoliberalism, starting with Andropov. It was Andropov, who created the plan of transition of the USSR to neoliberalism, the plan that Gorbachov tried to implement and miserably failed.

So the system exploded from within because the Party elite became infected with neoliberalism (which was stupid, but reflects the level of degeneration of the Soviet elite).

The major USA contribution other then supplying the new ideology for the Soviet elite was via CIA injecting God know how much money to bribe top officials.

As Gorbachov was a second rate (if not the third rate) politician, he allowed the situation to run out of control. And the efforts to "rock" the system were fueled internally by emerging (as the result of Perestroika; which was a reincarnation of Lenin's idea of NEP) class of neoliberal Nouveau riche (which run the USSR "shadow economy" which emerged under Brezhnev) and by nationalist sentiments (those element were clearly supported by the USA and other Western countries money as well as via subversive efforts of national diaspora residing in the USA and Canada) and certain national minorities within the USSR.

Explosion of far right nationalist sentiments without "Countervailing ideology" as Bolshevism was not taken seriously anymore was the key factor that led to the dissolution of the USSR.

Essentially national movements allied with Germany that were defeated during WWII became the winners.

The brutal economic rape of the xUSSR space and generally of the whole former Soviet block by the "collective neoliberal West" naturally followed. Which had shown everybody that the vanguard of Perestroika were simply filthy compradors, who can't care less about regular citizens and their sufferings.

And the backlash created conditions for Putin coming to power.

BTW this huge amount of loot postponed the internal crisis of neoliberalism which happened in the USA in 2008 probably by ten years. And it (along with a couple of other factors such as telecommunication revolution) explain relative prosperity of Clinton presidency. Criminal Clinton presidency I should say.

BTW few republics in former USSR space managed to achieve the standard of living equal to the best years of the USSR (early 80th I think) See https://web.williams.edu/Economics/brainerd/papers/ussr_july08.pdf

The majority of the xUSSR space countries have now dismal standard of living and slided into Latin American level of inequality and corruption (not without help of the USA).

Several have civil wars in the period since getting independence, which further depressed the standard living. Most deindustrialize.

Generally when the particular ideology collapses, far right nationalism fills the void. We see this now with the slow collapse of neoliberalism in the USA and Western Europe.

Chinese learned a lot from Gorbachov's fatal mistakes and have better economic results as the result of the conversion to the neoliberalism ("from the above"), although at the end Chinese elite is not that different from Soviet elite and also is corruptible and can eventually change sides.

But they managed to survive the "triumphal march of neoliberalism" (1980-2000) and now the danger is less as neoliberalism is clearly the good with expired "use by" date: after 2008 the neoliberal ideology was completely discredited and entered "zombie" state.

So in the worst case it is the USA which might follow the path of the USSR and eventually disintegrate under the pressure of internal nationalist sentiments. Such a victor...

Even now there are some visible difference between former Confederacy states and other states on the issues such as immigration and federal redistributive programs.

[Sep 13, 2019] Clowns, AI and layoffs

Sep 13, 2019 | www.nakedcapitalism.com

Bugs Bunny , September 13, 2019 at 4:25 pm

Clowns should be increasingly used in redundancy (layoff, firing) meetings until it becomes the norm and employers start to compete with each other to offer the best clown redundancy experience and promote it as a benefit.

It would also create clown jobs, which would probably require more clown schools, meaning that the tuition prices would go through the roof and young people dreaming of becoming redundancy clowns would either have to come from wealth or take out massive clown loans to fund their education for clown universities and grad schools. Shareholders can only take so much top line costs and Wall Street pressure would force corporations to improve return on investment and reduce redundancy clown labor expenses. Sadly, redundancy clowns would find themselves training their own replacements – HB1 clowns from "low cost" countries. Employers would respond to quality criticisms of the HB1 clown experience by publishing survey results showing very similar almost ex-employee satisfaction with the new clowns.

Eventually, of course, redundancy clowns will be replaced by AI and robots. It's just the future and we will need to think about how to adapt to it today by putting in place a UBI for the inevitable redundant redundancy clowns.

[Sep 10, 2019] What s wrong with you people ?

Mar 11, 2014 | independentaustralia.net

[Sep 10, 2019] Neoliberal Capitalism at a Dead End by Utsa Patnaik and Prabhat Patnaik

Highly recommended!
This is a Marxist critique of neoliberalism. Not necessary right but they his some relevant points.
Notable quotes:
"... The ideology of neoliberal capitalism was the promise of growth. But with neoliberal capitalism reaching a dead end, this promise disappears and so does this ideological prop. ..."
"... The ex ante tendency toward overproduction arises because the vector of real wages across countries does not increase noticeably over time in the world economy, while the vector of labor productivities does, typically resulting in a rise in the share of surplus in world output. ..."
"... While the rise in the vector of labor productivities across countries, a ubiquitous phenomenon under capitalism that also characterizes neoliberal capitalism, scarcely requires an explanation, why does the vector of real wages remain virtually stagnant in the world economy? The answer lies in the sui generis character of contemporary globalization that, for the first time in the history of capitalism, has led to a relocation of activity from the metropolis to third world countries in order to take advantage of the lower wages prevailing in the latter and meet global demand. ..."
"... The current globalization broke with this. The movement of capital from the metropolis to the third world, especially to East, South, and Southeast Asia to relocate plants there and take advantage of their lower wages for meeting global demand, has led to a desegmentation of the world economy, subjecting metropolitan wages to the restraining effect exercised by the third world's labor reserves. Not surprisingly, as Joseph Stiglitz has pointed out, the real-wage rate of an average male U.S. worker in 2011 was no higher -- indeed, it was marginally lower -- than it had been in 1968. 5 ..."
"... This ever-present opposition becomes decisive within a regime of globalization. As long as finance capital remains national -- that is, nation-based -- and the state is a nation-state, the latter can override this opposition under certain circumstances, such as in the post-Second World War period when capitalism was facing an existential crisis. But when finance capital is globalized, meaning, when it is free to move across country borders while the state remains a nation-state, its opposition to fiscal deficits becomes decisive. If the state does run large fiscal deficits against its wishes, then it would simply leave that country en masse , causing a financial crisis. ..."
"... The state therefore capitulates to the demands of globalized finance capital and eschews direct fiscal intervention for increasing demand. It resorts to monetary policy instead since that operates through wealth holders' decisions, and hence does not undermine their social position. But, precisely for this reason, monetary policy is an ineffective instrument, as was evident in the United States in the aftermath of the 2007–09 crisis when even the pushing of interest rates down to zero scarcely revived activity. 6 ..."
"... If Trump's protectionism, which recalls the Smoot-Hawley tariff of 1931 and amounts to a beggar-my-neighbor policy, does lead to a significant export of unemployment from the United States, then it will invite retaliation and trigger a trade war that will only worsen the crisis for the world economy as a whole by dampening global investment. Indeed, since the United States has been targeting China in particular, some retaliatory measures have already appeared. But if U.S. protectionism does not invite generalized retaliation, it would only be because the export of unemployment from the United States is insubstantial, keeping unemployment everywhere, including in the United States, as precarious as it is now. However we look at it, the world would henceforth face higher levels of unemployment. ..."
"... The second implication of this dead end is that the era of export-led growth is by and large over for third world economies. The slowing down of world economic growth, together with protectionism in the United States against successful third world exporters, which could even spread to other metropolitan economies, suggests that the strategy of relying on the world market to generate domestic growth has run out of steam. Third world economies, including the ones that have been very successful at exporting, would now have to rely much more on their home market ..."
"... In other words, we shall now have an intensification of the imperialist stranglehold over third world economies, especially those pushed into unsustainable balance-of-payments deficits in the new situation. By imperialism , here we do not mean the imperialism of this or that major power, but the imperialism of international finance capital, with which even domestic big bourgeoisies are integrated, directed against their own working people ..."
"... In short, the ideology of neoliberal capitalism was the promise of growth. But with neoliberal capitalism reaching a dead end, this promise disappears and so does this ideological prop. To sustain itself, neoliberal capitalism starts looking for some other ideological prop and finds fascism. ..."
"... The first is the so-called spontaneous method of capital flight. Any political formation that seeks to take the country out of the neoliberal regime will witness capital flight even before it has been elected to office, bringing the country to a financial crisis and thereby denting its electoral prospects. And if perchance it still gets elected, the outflow will only increase, even before it assumes office. The inevitable difficulties faced by the people may well make the government back down at that stage. The sheer difficulty of transition away from a neoliberal regime could be enough to bring even a government based on the support of workers and peasants to its knees, precisely to save them short-term distress or to avoid losing their support. ..."
"... The third weapon consists in carrying out so-called democratic or parliamentary coups of the sort that Latin America has been experiencing. Coups in the old days were effected through the local armed forces and necessarily meant the imposition of military dictatorships in lieu of civilian, democratically elected governments. Now, taking advantage of the disaffection generated within countries by the hardships caused by capital flight and imposed sanctions, imperialism promotes coups through fascist or fascist-sympathizing middle-class political elements in the name of restoring democracy, which is synonymous with the pursuit of neoliberalism. ..."
"... And if all these measures fail, there is always the possibility of resorting to economic warfare (such as destroying Venezuela's electricity supply), and eventually to military warfare. Venezuela today provides a classic example of what imperialist intervention in a third world country is going to look like in the era of decline of neoliberal capitalism, when revolts are going to characterize such countries more and more. ..."
"... Despite this opposition, neoliberal capitalism cannot ward off the challenge it is facing for long. It has no vision for reinventing itself. Interestingly, in the period after the First World War, when capitalism was on the verge of sinking into a crisis, the idea of state intervention as a way of its revival had already been mooted, though its coming into vogue only occurred at the end of the Second World War. 11 Today, neoliberal capitalism does not even have an idea of how it can recover and revitalize itself. And weapons like domestic fascism in the third world and direct imperialist intervention cannot for long save it from the anger of the masses that is building up against it. ..."
Aug 25, 2019 | portside.org
Originally from: Monthly Review printer friendly
The ideology of neoliberal capitalism was the promise of growth. But with neoliberal capitalism reaching a dead end, this promise disappears and so does this ideological prop.

Harry Magdoff's The Age of Imperialism is a classic work that shows how postwar political decolonization does not negate the phenomenon of imperialism. The book has two distinct aspects. On the one hand, it follows in V. I. Lenin's footsteps in providing a comprehensive account of how capitalism at the time operated globally. On the other hand, it raises a question that is less frequently discussed in Marxist literature -- namely, the need for imperialism. Here, Magdoff not only highlighted the crucial importance, among other things, of the third world's raw materials for metropolitan capital, but also refuted the argument that the declining share of raw-material value in gross manufacturing output somehow reduced this importance, making the simple point that there can be no manufacturing at all without raw materials. 1

Magdoff's focus was on a period when imperialism was severely resisting economic decolonization in the third world, with newly independent third world countries taking control over their own resources. He highlighted the entire armory of weapons used by imperialism. But he was writing in a period that predated the onset of neoliberalism. Today, we not only have decades of neoliberalism behind us, but the neoliberal regime itself has reached a dead end. Contemporary imperialism has to be discussed within this setting.

Globalization and Economic Crisis

There are two reasons why the regime of neoliberal globalization has run into a dead end. The first is an ex ante tendency toward global overproduction; the second is that the only possible counter to this tendency within the regime is the formation of asset-price bubbles, which cannot be conjured up at will and whose collapse, if they do appear, plunges the economy back into crisis. In short, to use the words of British economic historian Samuel Berrick Saul, there are no "markets on tap" for contemporary metropolitan capitalism, such as had been provided by colonialism prior to the First World War and by state expenditure in the post-Second World War period of dirigisme . 2

The ex ante tendency toward overproduction arises because the vector of real wages across countries does not increase noticeably over time in the world economy, while the vector of labor productivities does, typically resulting in a rise in the share of surplus in world output. As Paul Baran and Paul Sweezy argued in Monopoly Capital , following the lead of Michał Kalecki and Josef Steindl, such a rise in the share of economic surplus, or a shift from wages to surplus, has the effect of reducing aggregate demand since the ratio of consumption to income is higher on average for wage earners than for those living off the surplus. 3 Therefore, assuming a given level of investment associated with any period, such a shift would tend to reduce consumption demand and hence aggregate demand, output, and capacity utilization. In turn, reduced capacity utilization would lower investment over time, further aggravating the demand-reducing effect arising from the consumption side.

While the rise in the vector of labor productivities across countries, a ubiquitous phenomenon under capitalism that also characterizes neoliberal capitalism, scarcely requires an explanation, why does the vector of real wages remain virtually stagnant in the world economy? The answer lies in the sui generis character of contemporary globalization that, for the first time in the history of capitalism, has led to a relocation of activity from the metropolis to third world countries in order to take advantage of the lower wages prevailing in the latter and meet global demand.

Historically, while labor has not been, and is still not, free to migrate from the third world to the metropolis, capital, though juridically free to move from the latter to the former, did not actually do so , except to sectors like mines and plantations, which only strengthened, rather than broke, the colonial pattern of the international division of labor. 4 This segmentation of the world economy meant that wages in the metropolis increased with labor productivity, unrestrained by the vast labor reserves of the third world, which themselves had been caused by the displacement of manufactures through the twin processes of deindustrialization (competition from metropolitan goods) and the drain of surplus (the siphoning off of a large part of the economic surplus, through taxes on peasants that are no longer spent on local artisan products but finance gratis primary commodity exports to the metropolis instead).

The current globalization broke with this. The movement of capital from the metropolis to the third world, especially to East, South, and Southeast Asia to relocate plants there and take advantage of their lower wages for meeting global demand, has led to a desegmentation of the world economy, subjecting metropolitan wages to the restraining effect exercised by the third world's labor reserves. Not surprisingly, as Joseph Stiglitz has pointed out, the real-wage rate of an average male U.S. worker in 2011 was no higher -- indeed, it was marginally lower -- than it had been in 1968. 5

At the same time, such relocation of activities, despite causing impressive growth rates of gross domestic product (GDP) in many third world countries, does not lead to the exhaustion of the third world's labor reserves. This is because of another feature of contemporary globalization: the unleashing of a process of primitive accumulation of capital against petty producers, including peasant agriculturists in the third world, who had earlier been protected, to an extent, from the encroachment of big capital (both domestic and foreign) by the postcolonial dirigiste regimes in these countries. Under neoliberalism, such protection is withdrawn, causing an income squeeze on these producers and often their outright dispossession from their land, which is then used by big capital for its various so-called development projects. The increase in employment, even in countries with impressive GDP growth rates in the third world, falls way short of the natural growth of the workforce, let alone absorbing the additional job seekers coming from the ranks of displaced petty producers. The labor reserves therefore never get used up. Indeed, on the contrary, they are augmented further, because real wages continue to remain tied to a subsistence level, even as metropolitan wages too are restrained. The vector of real wages in the world economy as a whole therefore remains restrained.

Although contemporary globalization thus gives rise to an ex ante tendency toward overproduction, state expenditure that could provide a counter to this (and had provided a counter through military spending in the United States, according to Baran and Sweezy) can no longer do so under the current regime. Finance is usually opposed to direct state intervention through larger spending as a way of increasing employment. This opposition expresses itself through an opposition not just to larger taxes on capitalists, but also to a larger fiscal deficit for financing such spending. Obviously, if larger state spending is financed by taxes on workers, then it hardly adds to aggregate demand, for workers spend the bulk of their incomes anyway, so the state taking this income and spending it instead does not add any extra demand. Hence, larger state spending can increase employment only if it is financed either through a fiscal deficit or through taxes on capitalists who keep a part of their income unspent or saved. But these are precisely the two modes of financing state expenditure that finance capital opposes.

Its opposing larger taxes on capitalists is understandable, but why is it so opposed to a larger fiscal deficit? Even within a capitalist economy, there are no sound economic theoretical reasons that should preclude a fiscal deficit under all circumstances. The root of the opposition therefore lies in deeper social considerations: if the capitalist economic system becomes dependent on the state to promote employment directly , then this fact undermines the social legitimacy of capitalism. The need for the state to boost the animal spirits of the capitalists disappears and a perspective on the system that is epistemically exterior to it is provided to the people, making it possible for them to ask: If the state can do the job of providing employment, then why do we need the capitalists at all? It is an instinctive appreciation of this potential danger that underlies the opposition of capital, especially of finance, to any direct effort by the state to generate employment.

This ever-present opposition becomes decisive within a regime of globalization. As long as finance capital remains national -- that is, nation-based -- and the state is a nation-state, the latter can override this opposition under certain circumstances, such as in the post-Second World War period when capitalism was facing an existential crisis. But when finance capital is globalized, meaning, when it is free to move across country borders while the state remains a nation-state, its opposition to fiscal deficits becomes decisive. If the state does run large fiscal deficits against its wishes, then it would simply leave that country en masse , causing a financial crisis.

The state therefore capitulates to the demands of globalized finance capital and eschews direct fiscal intervention for increasing demand. It resorts to monetary policy instead since that operates through wealth holders' decisions, and hence does not undermine their social position. But, precisely for this reason, monetary policy is an ineffective instrument, as was evident in the United States in the aftermath of the 2007–09 crisis when even the pushing of interest rates down to zero scarcely revived activity. 6

It may be thought that this compulsion on the part of the state to accede to the demand of finance to eschew fiscal intervention for enlarging employment should not hold for the United States. Its currency being considered by the world's wealth holders to be "as good as gold" should make it immune to capital flight. But there is an additional factor operating in the case of the United States: that the demand generated by a bigger U.S. fiscal deficit would substantially leak abroad in a neoliberal setting, which would increase its external debt (since, unlike Britain in its heyday, it does not have access to any unrequited colonial transfers) for the sake of generating employment elsewhere. This fact deters any fiscal effort even in the United States to boost demand within a neoliberal setting. 7

Therefore, it follows that state spending cannot provide a counter to the ex ante tendency toward global overproduction within a regime of neoliberal globalization, which makes the world economy precariously dependent on occasional asset-price bubbles, primarily in the U.S. economy, for obtaining, at best, some temporary relief from the crisis. It is this fact that underlies the dead end that neoliberal capitalism has reached. Indeed, Donald Trump's resort to protectionism in the United States to alleviate unemployment is a clear recognition of the system having reached this cul-de-sac. The fact that the mightiest capitalist economy in the world has to move away from the rules of the neoliberal game in an attempt to alleviate its crisis of unemployment/underemployment -- while compensating capitalists adversely affected by this move through tax cuts, as well as carefully ensuring that no restraints are imposed on free cross-border financial flows -- shows that these rules are no longer viable in their pristine form.

Some Implications of This Dead End

There are at least four important implications of this dead end of neoliberalism. The first is that the world economy will now be afflicted by much higher levels of unemployment than it was in the last decade of the twentieth century and the early years of the twenty-first, when the dot-com and the housing bubbles in the United States had, sequentially, a pronounced impact. It is true that the U.S. unemployment rate today appears to be at a historic low, but this is misleading: the labor-force participation rate in the United States today is lower than it was in 2008, which reflects the discouraged-worker effect . Adjusting for this lower participation, the U.S. unemployment rate is considerable -- around 8 percent. Indeed, Trump would not be imposing protection in the United States if unemployment was actually as low as 4 percent, which is the official figure. Elsewhere in the world, of course, unemployment post-2008 continues to be evidently higher than before. Indeed, the severity of the current problem of below-full-employment production in the U.S. economy is best illustrated by capacity utilization figures in manufacturing. The weakness of the U.S. recovery from the Great Recession is indicated by the fact that the current extended recovery represents the first decade in the entire post-Second World War period in which capacity utilization in manufacturing has never risen as high as 80 percent in a single quarter, with the resulting stagnation of investment. 8

If Trump's protectionism, which recalls the Smoot-Hawley tariff of 1931 and amounts to a beggar-my-neighbor policy, does lead to a significant export of unemployment from the United States, then it will invite retaliation and trigger a trade war that will only worsen the crisis for the world economy as a whole by dampening global investment. Indeed, since the United States has been targeting China in particular, some retaliatory measures have already appeared. But if U.S. protectionism does not invite generalized retaliation, it would only be because the export of unemployment from the United States is insubstantial, keeping unemployment everywhere, including in the United States, as precarious as it is now. However we look at it, the world would henceforth face higher levels of unemployment.

There has been some discussion on how global value chains would be affected by Trump's protectionism. But the fact that global macroeconomics in the early twenty-first century will look altogether different compared to earlier has not been much discussed.

In light of the preceding discussion, one could say that if, instead of individual nation-states whose writ cannot possibly run against globalized finance capital, there was a global state or a set of major nation-states acting in unison to override the objections of globalized finance and provide a coordinated fiscal stimulus to the world economy, then perhaps there could be recovery. Such a coordinated fiscal stimulus was suggested by a group of German trade unionists, as well as by John Maynard Keynes during the Great Depression in the 1930s. 9 While it was turned down then, in the present context it has not even been discussed.

The second implication of this dead end is that the era of export-led growth is by and large over for third world economies. The slowing down of world economic growth, together with protectionism in the United States against successful third world exporters, which could even spread to other metropolitan economies, suggests that the strategy of relying on the world market to generate domestic growth has run out of steam. Third world economies, including the ones that have been very successful at exporting, would now have to rely much more on their home market.

Such a transition will not be easy; it will require promoting domestic peasant agriculture, defending petty production, moving toward cooperative forms of production, and ensuring greater equality in income distribution, all of which need major structural shifts. For smaller economies, it would also require their coming together with other economies to provide a minimum size to the domestic market. In short, the dead end of neoliberalism also means the need for a shift away from the so-called neoliberal development strategy that has held sway until now.

The third implication is the imminent engulfing of a whole range of third world economies in serious balance-of-payments difficulties. This is because, while their exports will be sluggish in the new situation, this very fact will also discourage financial inflows into their economies, whose easy availability had enabled them to maintain current account deficits on their balance of payments earlier. In such a situation, within the existing neoliberal paradigm, they would be forced to adopt austerity measures that would impose income deflation on their people, make the conditions of their people significantly worse, lead to a further handing over of their national assets and resources to international capital, and prevent precisely any possible transition to an alternative strategy of home market-based growth.

In other words, we shall now have an intensification of the imperialist stranglehold over third world economies, especially those pushed into unsustainable balance-of-payments deficits in the new situation. By imperialism , here we do not mean the imperialism of this or that major power, but the imperialism of international finance capital, with which even domestic big bourgeoisies are integrated, directed against their own working people.

The fourth implication is the worldwide upsurge of fascism. Neoliberal capitalism even before it reached a dead end, even in the period when it achieved reasonable growth and employment rates, had pushed the world into greater hunger and poverty. For instance, the world per-capita cereal output was 355 kilograms for 1980 (triennium average for 1979–81 divided by mid–triennium population) and fell to 343 in 2000, leveling at 344.9 in 2016 -- and a substantial amount of this last figure went into ethanol production. Clearly, in a period of growth of the world economy, per-capita cereal absorption should be expanding, especially since we are talking here not just of direct absorption but of direct and indirect absorption, the latter through processed foods and feed grains in animal products. The fact that there was an absolute decline in per-capita output, which no doubt caused a decline in per-capita absorption, suggests an absolute worsening in the nutritional level of a substantial segment of the world's population.

But this growing hunger and nutritional poverty did not immediately arouse any significant resistance, both because such resistance itself becomes more difficult under neoliberalism (since the very globalization of capital makes it an elusive target) and also because higher GDP growth rates provided a hope that distress might be overcome in the course of time. Peasants in distress, for instance, entertained the hope that their children would live better in the years to come if given a modicum of education and accepted their fate.

In short, the ideology of neoliberal capitalism was the promise of growth. But with neoliberal capitalism reaching a dead end, this promise disappears and so does this ideological prop. To sustain itself, neoliberal capitalism starts looking for some other ideological prop and finds fascism. This changes the discourse away from the material conditions of people's lives to the so-called threat to the nation, placing the blame for people's distress not on the failure of the system, but on ethnic, linguistic, and religious minority groups, the other that is portrayed as an enemy. It projects a so-called messiah whose sheer muscularity can somehow magically overcome all problems; it promotes a culture of unreason so that both the vilification of the other and the magical powers of the supposed leader can be placed beyond any intellectual questioning; it uses a combination of state repression and street-level vigilantism by fascist thugs to terrorize opponents; and it forges a close relationship with big business, or, in Kalecki's words, "a partnership of big business and fascist upstarts." 10

Fascist groups of one kind or another exist in all modern societies. They move center stage and even into power only on certain occasions when they get the backing of big business. And these occasions arise when three conditions are satisfied: when there is an economic crisis so the system cannot simply go on as before; when the usual liberal establishment is manifestly incapable of resolving the crisis; and when the left is not strong enough to provide an alternative to the people in order to move out of the conjuncture.

This last point may appear odd at first, since many see the big bourgeoisie's recourse to fascism as a counter to the growth of the left's strength in the context of a capitalist crisis. But when the left poses a serious threat, the response of the big bourgeoisie typically is to attempt to split it by offering concessions. It uses fascism to prop itself up only when the left is weakened. Walter Benjamin's remark that "behind every fascism there is a failed revolution" points in this direction.

Fascism Then and Now

Contemporary fascism, however, differs in crucial respects from its 1930s counterpart, which is why many are reluctant to call the current phenomenon a fascist upsurge. But historical parallels, if carefully drawn, can be useful. While in some aforementioned respects contemporary fascism does resemble the phenomenon of the 1930s, there are serious differences between the two that must also be noted.

First, we must note that while the current fascist upsurge has put fascist elements in power in many countries, there are no fascist states of the 1930s kind as of yet. Even if the fascist elements in power try to push the country toward a fascist state, it is not clear that they will succeed. There are many reasons for this, but an important one is that fascists in power today cannot overcome the crisis of neoliberalism, since they accept the regime of globalization of finance. This includes Trump, despite his protectionism. In the 1930s, however, this was not the case. The horrors associated with the institution of a fascist state in the 1930s had been camouflaged to an extent by the ability of the fascists in power to overcome mass unemployment and end the Depression through larger military spending, financed by government borrowing. Contemporary fascism, by contrast, lacks the ability to overcome the opposition of international finance capital to fiscal activism on the part of the government to generate larger demand, output, and employment, even via military spending.

Such activism, as discussed earlier, required larger government spending financed either through taxes on capitalists or through a fiscal deficit. Finance capital was opposed to both of these measures and it being globalized made this opposition decisive . The decisiveness of this opposition remains even if the government happens to be one composed of fascist elements. Hence, contemporary fascism, straitjacketed by "fiscal rectitude," cannot possibly alleviate even temporarily the economic crises facing people and cannot provide any cover for a transition to a fascist state akin to the ones of the 1930s, which makes such a transition that much more unlikely.

Another difference is also related to the phenomenon of the globalization of finance. The 1930s were marked by what Lenin had earlier called "interimperialist rivalry." The military expenditures incurred by fascist governments, even though they pulled countries out of the Depression and unemployment, inevitably led to wars for "repartitioning an already partitioned world." Fascism was the progenitor of war and burned itself out through war at, needless to say, great cost to humankind.

Contemporary fascism, however, operates in a world where interimperialist rivalry is far more muted. Some have seen in this muting a vindication of Karl Kautsky's vision of an "ultraimperialism" as against Lenin's emphasis on the permanence of interimperialist rivalry, but this is wrong. Both Kautsky and Lenin were talking about a world where finance capital and the financial oligarchy were essentially national -- that is, German, French, or British. And while Kautsky talked about the possibility of truces among the rival oligarchies, Lenin saw such truces only as transient phenomena punctuating the ubiquity of rivalry.

In contrast, what we have today is not nation-based finance capitals, but international finance capital into whose corpus the finance capitals drawn from particular countries are integrated. This globalized finance capital does not want the world to be partitioned into economic territories of rival powers ; on the contrary, it wants the entire globe to be open to its own unrestricted movement. The muting of rivalry between major powers, therefore, is not because they prefer truce to war, or peaceful partitioning of the world to forcible repartitioning, but because the material conditions themselves have changed so that it is no longer a matter of such choices. The world has gone beyond both Lenin and Kautsky, as well as their debates.

Not only are we not going to have wars between major powers in this era of fascist upsurge (of course, as will be discussed, we shall have other wars), but, by the same token, this fascist upsurge will not burn out through any cataclysmic war. What we are likely to see is a lingering fascism of less murderous intensity , which, when in power, does not necessarily do away with all the forms of bourgeois democracy, does not necessarily physically annihilate the opposition, and may even allow itself to get voted out of power occasionally. But since its successor government, as long as it remains within the confines of the neoliberal strategy, will also be incapable of alleviating the crisis, the fascist elements are likely to return to power as well. And whether the fascist elements are in or out of power, they will remain a potent force working toward the fascification of the society and the polity, even while promoting corporate interests within a regime of globalization of finance, and hence permanently maintaining the "partnership between big business and fascist upstarts."

Put differently, since the contemporary fascist upsurge is not likely to burn itself out as the earlier one did, it has to be overcome by transcending the very conjuncture that produced it: neoliberal capitalism at a dead end. A class mobilization of working people around an alternative set of transitional demands that do not necessarily directly target neoliberal capitalism, but which are immanently unrealizable within the regime of neoliberal capitalism, can provide an initial way out of this conjuncture and lead to its eventual transcendence.

Such a class mobilization in the third world context would not mean making no truces with liberal bourgeois elements against the fascists. On the contrary, since the liberal bourgeois elements too are getting marginalized through a discourse of jingoistic nationalism typically manufactured by the fascists, they too would like to shift the discourse toward the material conditions of people's lives, no doubt claiming that an improvement in these conditions is possible within the neoliberal economic regime itself. Such a shift in discourse is in itself a major antifascist act . Experience will teach that the agenda advanced as part of this changed discourse is unrealizable under neoliberalism, providing the scope for dialectical intervention by the left to transcend neoliberal capitalism.

Imperialist Interventions

Even though fascism will have a lingering presence in this conjuncture of "neoliberalism at a dead end," with the backing of domestic corporate-financial interests that are themselves integrated into the corpus of international finance capital, the working people in the third world will increasingly demand better material conditions of life and thereby rupture the fascist discourse of jingoistic nationalism (that ironically in a third world context is not anti-imperialist).

In fact, neoliberalism reaching a dead end and having to rely on fascist elements revives meaningful political activity, which the heyday of neoliberalism had precluded, because most political formations then had been trapped within an identical neoliberal agenda that appeared promising. (Latin America had a somewhat different history because neoliberalism arrived in that continent through military dictatorships, not through its more or less tacit acceptance by most political formations.)

Such revived political activity will necessarily throw up challenges to neoliberal capitalism in particular countries. Imperialism, by which we mean the entire economic and political arrangement sustaining the hegemony of international finance capital, will deal with these challenges in at least four different ways.

The first is the so-called spontaneous method of capital flight. Any political formation that seeks to take the country out of the neoliberal regime will witness capital flight even before it has been elected to office, bringing the country to a financial crisis and thereby denting its electoral prospects. And if perchance it still gets elected, the outflow will only increase, even before it assumes office. The inevitable difficulties faced by the people may well make the government back down at that stage. The sheer difficulty of transition away from a neoliberal regime could be enough to bring even a government based on the support of workers and peasants to its knees, precisely to save them short-term distress or to avoid losing their support.

Even if capital controls are put in place, where there are current account deficits, financing such deficits would pose a problem, necessitating some trade controls. But this is where the second instrument of imperialism comes into play: the imposition of trade sanctions by the metropolitan states, which then cajole other countries to stop buying from the sanctioned country that is trying to break away from thralldom to globalized finance capital. Even if the latter would have otherwise succeeded in stabilizing its economy despite its attempt to break away, the imposition of sanctions becomes an additional blow.

The third weapon consists in carrying out so-called democratic or parliamentary coups of the sort that Latin America has been experiencing. Coups in the old days were effected through the local armed forces and necessarily meant the imposition of military dictatorships in lieu of civilian, democratically elected governments. Now, taking advantage of the disaffection generated within countries by the hardships caused by capital flight and imposed sanctions, imperialism promotes coups through fascist or fascist-sympathizing middle-class political elements in the name of restoring democracy, which is synonymous with the pursuit of neoliberalism.

And if all these measures fail, there is always the possibility of resorting to economic warfare (such as destroying Venezuela's electricity supply), and eventually to military warfare. Venezuela today provides a classic example of what imperialist intervention in a third world country is going to look like in the era of decline of neoliberal capitalism, when revolts are going to characterize such countries more and more.

Two aspects of such intervention are striking. One is the virtual unanimity among the metropolitan states, which only underscores the muting of interimperialist rivalry in the era of hegemony of global finance capital. The other is the extent of support that such intervention commands within metropolitan countries, from the right to even the liberal segments.

Despite this opposition, neoliberal capitalism cannot ward off the challenge it is facing for long. It has no vision for reinventing itself. Interestingly, in the period after the First World War, when capitalism was on the verge of sinking into a crisis, the idea of state intervention as a way of its revival had already been mooted, though its coming into vogue only occurred at the end of the Second World War. 11 Today, neoliberal capitalism does not even have an idea of how it can recover and revitalize itself. And weapons like domestic fascism in the third world and direct imperialist intervention cannot for long save it from the anger of the masses that is building up against it.

Notes
  1. Harry Magdoff, The Age of Imperialism (New York: Monthly Review Press, 1969).
  2. Samuel Berrick Saul, Studies in British Overseas Trade, 1870–1914 (Liverpool: Liverpool University Press, 1960).
  3. Paul A. Baran and Paul M. Sweezy, Monopoly Capital (New York: Monthly Review Press, 1966).
  4. One of the first authors to recognize this fact and its significance was Paul Baran in The Political Economy of Growth (New York: Monthly Review Press, 1957).
  5. Joseph E. Stiglitz, " Inequality is Holding Back the Recovery ," New York Times , January 19, 2013.
  6. For a discussion of how even the recent euphoria about U.S. growth is vanishing, see C. P. Chandrasekhar and Jayati Ghosh, " Vanishing Green Shoots and the Possibility of Another Crisis ," The Hindu Business Line , April 8, 2019.
  7. For the role of such colonial transfers in sustaining the British balance of payments and the long Victorian and Edwardian boom, see Utsa Patnaik, "Revisiting the 'Drain,' or Transfers from India to Britain in the Context of Global Diffusion of Capitalism," in Agrarian and Other Histories: Essays for Binay Bhushan Chaudhuri , ed. Shubhra Chakrabarti and Utsa Patnaik (Delhi: Tulika, 2017), 277-317.
  8. Federal Reserve Board of Saint Louis Economic Research, FRED, "Capacity Utilization: Manufacturing," February 2019 (updated March 27, 2019), http://fred.stlouisfed.org .
  9. This issue is discussed by Charles P. Kindleberger in The World in Depression, 1929–1939 , 40th anniversary ed. (Oakland: University of California Press, 2013).
  10. Michał Kalecki, " Political Aspects of Full Employment ," Political Quarterly (1943), available at mronline.org.
  11. Joseph Schumpeter had seen Keynes's The Economic Consequences of the Peace as essentially advocating such state intervention in the new situation. See his essay, "John Maynard Keynes (1883–1946)," in Ten Great Economists (London: George Allen & Unwin, 1952).

Utsa Patnaik is Professor Emerita at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. Her books include Peasant Class Differentiation (1987), The Long Transition (1999), and The Republic of Hunger and Other Essays (2007). Prabhat Patnaik is Professor Emeritus at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. His books include Accumulation and Stability Under Capitalism (1997), The Value of Money(2009), and Re-envisioning Socialism(2011).

[Sep 10, 2019] How Deep Is the Rot in America s Institutions by Charles Hugh Smith

Highly recommended!
The question why the USA intelligence agencies were "unaware" about Epstein activities is an interesting one. Similar question can be asked about Hillary "activities" related to "Clinton cash".
Actually the way the USA elite deal with scandals is to ostracize any whistleblower and silence any media that tryt to dig the story. Open repression including physical elimination is seldom used those days as indirect methods are quite effective.
Notable quotes:
"... Either we root out every last source of rot by investigating, indicting and jailing every wrong-doer and everyone who conspired to protect the guilty in the Epstein case, or America will have sealed its final fall. ..."
"... If you doubt this, then please explain how 1) the NSA, CIA and FBI didn't know what Jeffrey Epstein was up to, and with whom; 2) Epstein was free to pursue his sexual exploitation of minors for years prior to his wrist-slap conviction and for years afterward; 3) Epstein, the highest profile and most at-risk prisoner in the nation, was left alone and the security cameras recording his cell and surroundings were "broken." ..."
"... America's ruling class has crucified whistleblowers , especially those uncovering fraud in the defense (military-industrial-security) and financial (tax evasion) sectors and blatant violations of public trust, civil liberties and privacy. ..."
"... Needless to say, a factual accounting of corruption, cronyism, incompetence, self-serving exploitation of the many by the few, etc. is not welcome in America. Look at the dearth of investigative resources America's corporate media is devoting to digging down to the deepest levels of rot in the Epstein case. ..."
Sep 09, 2019 | www.oftwominds.com

Either we root out every last source of rot by investigating, indicting and jailing every wrong-doer and everyone who conspired to protect the guilty in the Epstein case, or America will have sealed its final fall.

When you discover rot in an apparently sound structure, the first question is: how far has the rot penetrated? If the rot has reached the foundation and turned it to mush, the structure is one wind-storm from collapse.

How deep has the rot of corruption, fraud, abuse of power, betrayal of the public trust, blatant criminality and insiders protecting the guilty penetrated America's key public and private institutions? It's difficult to tell, as the law-enforcement and security agencies are themselves hopelessly compromised.

If you doubt this, then please explain how 1) the NSA, CIA and FBI didn't know what Jeffrey Epstein was up to, and with whom; 2) Epstein was free to pursue his sexual exploitation of minors for years prior to his wrist-slap conviction and for years afterward; 3) Epstein, the highest profile and most at-risk prisoner in the nation, was left alone and the security cameras recording his cell and surroundings were "broken."

If this all strikes you as evidence that America's security and law-enforcement institutions are functioning at a level that's above reproach, then 1) you're a well-paid shill who's protecting the guilty lest your own misdeeds come to light or 2) your consumption of mind-bending meds is off the charts.

How deep has the rot gone in America's ruling elite? One way to measure the depth of the rot is to ask how whistleblowers who've exposed the ugly realities of insider dealing, malfeasance, tax evasion, cover-ups, etc. have fared.

America's ruling class has crucified whistleblowers , especially those uncovering fraud in the defense (military-industrial-security) and financial (tax evasion) sectors and blatant violations of public trust, civil liberties and privacy.

Needless to say, a factual accounting of corruption, cronyism, incompetence, self-serving exploitation of the many by the few, etc. is not welcome in America. Look at the dearth of investigative resources America's corporate media is devoting to digging down to the deepest levels of rot in the Epstein case.

The closer wrong-doing and wrong-doers are to protected power-elites, the less attention the mass media devotes to them.

... ... ...

Here are America's media, law enforcement/security agencies and "leadership" class: they speak no evil, see no evil and hear no evil, in the misguided belief that their misdirection, self-service and protection of the guilty will make us buy the narrative that America's ruling elite and all the core institutions they manage aren't rotten to the foundations.

Either we root out every last source of rot by investigating, indicting and jailing every wrong-doer and everyone who conspired to protect the guilty in the Epstein case, or America will have sealed its final fall.

[Sep 10, 2019] It s all about Gene Sharp and seeping neoliberal regime change using Western logistical support, money, NGO and intelligence agencies and MSM as the leverage

Highly recommended!
What democracy they are talking about? Democracy for whom? This Harvard political prostitutes are talking about democracy for oligarchs which was the nest result of EuroMaydan and the ability of Western companies to buy assets for pennies on the dollar without the control of national government like happen in xUSSR space after dissolution of the USSR, which in retrospect can be classified as a color revolution too, supported by financial injection, logistical support and propaganda campaign in major Western MSM.
What Harvard honchos probably does not understand or does not wish to understand is that neoliberalism as a social system lost its attraction and is in irreversible decline. The ideology of neoliberalism collapsed much like Bolsheviks' ideology. As Politician like Joe Boden which still preach neoliberalism are widely viewed as corrupt or senile (or both) hypocrites.
The "Collective West" still demonstrates formidable intelligence agencies skills (especially the USA and GB), but the key question is: "What they are fighting for?"
They are fighting for neoliberalism which is a lost case. Which looks like KGB successes after WWIII. They won many battles and lost the Cold war.
Not that Bolsheviks in the USSR was healthy or vibrant. Economics was a deep stagnation, alcoholism among working class was rampant, the standard of living of the majority of population slides each year, much like is the case with neoliberalism after, say, 1991. Hidden unemployment in the USSR was high -- at least in high teens if not higher. Like in the USA now good jobs were almost impossible to obtain without "extra help". Medical services while free were dismal, especially dental -- which were horrible. Hospitals were poor as church rats as most money went to MIC. Actually, like in the USA now, MIC helped to strangulate the economy and contributed to the collapse. It was co a corrupt and decaying , led by completely degenerated leadership. To put the person of the level of Gorbachov level of political talent lead such a huge and complex country was an obvious suicide.
But the facts speak for themselves: what people usually get as the result of any color revolution is the typical for any county which lost the war: dramatic drop of the standard of living due to economic rape of the country.
While far form being perfect the Chinese regime at least managed to lift the standard of living of the majority of the population and provide employment. After regime change China will experience the same economic rape as the USSR under Yeltsin regime. So in no way Hong Cong revolution can be viewed a progressive phenomenon despite all the warts of neoliberalism with Chenese characteristics in mainland China (actually this is a variant of NEP that Gorbachov tried to implement in the USSR, but was to politically incompetent to succeed)
Aug 31, 2019 | Chris Fraser @ChrisFraser_HKU • Aug 27 \z

Replying to @edennnnnn_ @AMFChina @lihkg_forum

A related resource that deserves wide circulation:

Why nonviolent resistance beats violent force in effecting social, political change – Harvard Gazette

CHENOWETH: I think it really boils down to four different things. The first is a large and diverse participation that's sustained.

The second thing is that [the movement] needs to elicit loyalty shifts among security forces in particular, but also other elites. Security forces are important because they ultimately are the agents of repression, and their actions largely decide how violent the confrontation with -- and reaction to -- the nonviolent campaign is going to be in the end. But there are other security elites, economic and business elites, state media. There are lots of different pillars that support the status quo, and if they can be disrupted or coerced into noncooperation, then that's a decisive factor.

The third thing is that the campaigns need to be able to have more than just protests; there needs to be a lot of variation in the methods they use.

The fourth thing is that when campaigns are repressed -- which is basically inevitable for those calling for major changes -- they don't either descend into chaos or opt for using violence themselves. If campaigns allow their repression to throw the movement into total disarray or they use it as a pretext to militarize their campaign, then they're essentially co-signing what the regime wants -- for the resisters to play on its own playing field. And they're probably going to get totally crushed.

Wai Sing-Rin @waisingrin • Aug 27

Replying to @ChrisFraser_HKU @edennnnnn_ and 2 others

Anyone who watched the lone frontliner (w translator) sees the frontliners are headed for disaster. They're fighting just to fight with no plans nor objectives.
They see themselves as heroes protecting the HK they love. No doubt their sincerity, but there are 300 of them left.

[Sep 09, 2019] What's the True Unemployment Rate in the US? by Jack Rasmus

Highly recommended!
Notable quotes:
"... The real unemployment rate is probably somewhere between 10%-12%. ..."
"... The U-6 also includes what the labor dept. calls involuntary part time employed. It should include the voluntary part time as well, but doesn't (See, they're not actively looking for work even if unemployed). ..."
"... But even the involuntary part time is itself under-estimated. I believe the Labor Dept. counts only those involuntarily part time unemployed whose part time job is their primary job. It doesn't count those who have second and third involuntary part time jobs. That would raise the U-6 unemployment rate significantly. The labor Dept's estimate of the 'discouraged' and 'missing labor force' is grossly underestimated. ..."
"... The labor dept. also misses the 1-2 million workers who went on social security disability (SSDI) after 2008 because it provides better pay, for longer, than does unemployment insurance. That number rose dramatically after 2008 and hasn't come down much (although the government and courts are going after them). ..."
"... The way the government calculates unemployment is by means of 60,000 monthly household surveys but that phone survey method misses a lot of workers who are undocumented and others working in the underground economy in the inner cities (about 10-12% of the economy according to most economists and therefore potentially 10-12% of the reported labor force in size as well). ..."
"... The SSDI, undocumented, underground, underestimation of part timers, etc. are what I call the 'hidden unemployed'. And that brings the unemployed well above the 3.7%. ..."
Sep 09, 2019 | www.counterpunch.org

The real unemployment rate is probably somewhere between 10%-12%. Here's why: the 3.7% is the U-3 rate, per the labor dept. But that's the rate only for full time employed. What the labor dept. calls the U-6 includes what it calls discouraged workers (those who haven't looked for work in the past 4 weeks). Then there's what's called the 'missing labor force'–i.e. those who haven't looked in the past year. They're not calculated in the 3.7% U-3 unemployment rate number either. Why? Because you have to be 'out of work and actively looking for work' to be counted as unemployed and therefore part of the 3.7% rate.

The U-6 also includes what the labor dept. calls involuntary part time employed. It should include the voluntary part time as well, but doesn't (See, they're not actively looking for work even if unemployed).

But even the involuntary part time is itself under-estimated. I believe the Labor Dept. counts only those involuntarily part time unemployed whose part time job is their primary job. It doesn't count those who have second and third involuntary part time jobs. That would raise the U-6 unemployment rate significantly. The labor Dept's estimate of the 'discouraged' and 'missing labor force' is grossly underestimated.

The labor dept. also misses the 1-2 million workers who went on social security disability (SSDI) after 2008 because it provides better pay, for longer, than does unemployment insurance. That number rose dramatically after 2008 and hasn't come down much (although the government and courts are going after them).

The way the government calculates unemployment is by means of 60,000 monthly household surveys but that phone survey method misses a lot of workers who are undocumented and others working in the underground economy in the inner cities (about 10-12% of the economy according to most economists and therefore potentially 10-12% of the reported labor force in size as well). The labor dept. just makes assumptions about that number (conservatively, I may add) and plugs in a number to be added to the unemployment totals. But it has no real idea of how many undocumented or underground economy workers are actually employed or unemployed since these workers do not participate in the labor dept. phone surveys, and who can blame them.

The SSDI, undocumented, underground, underestimation of part timers, etc. are what I call the 'hidden unemployed'. And that brings the unemployed well above the 3.7%.

Finally, there's the corroborating evidence about what's called the labor force participation rate. It has declined by roughly 5% since 2007. That's 6 to 9 million workers who should have entered the labor force but haven't. The labor force should be that much larger, but it isn't. Where have they gone? Did they just not enter the labor force? If not, they're likely a majority unemployed, or in the underground economy, or belong to the labor dept's 'missing labor force' which should be much greater than reported. The government has no adequate explanation why the participation rate has declined so dramatically. Or where have the workers gone. If they had entered the labor force they would have been counted. And their 6 to 9 million would result in an increase in the total labor force number and therefore raise the unemployment rate.

All these reasons–-i.e. only counting full timers in the official 3.7%; under-estimating the size of the part time workforce; under-estimating the size of the discouraged and so-called 'missing labor force'; using methodologies that don't capture the undocumented and underground unemployed accurately; not counting part of the SSI increase as unemployed; and reducing the total labor force because of the declining labor force participation-–together means the true unemployment rate is definitely over 10% and likely closer to 12%. And even that's a conservative estimate perhaps." Join the debate on Facebook More articles by: Jack Rasmus

Jack Rasmus is author of the recently published book, 'Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression', Clarity Press, August 2017. He blogs at jackrasmus.com and his twitter handle is @drjackrasmus. His website is http://kyklosproductions.com .

[Sep 04, 2019] Economists had 'a far greater sense of confidence in their analyses than I have found to be warranted. They were best kept down with the surplus furniture and the rats

Sep 04, 2019 | www.economist.com

"Few economists worked at the Federal Reserve in the early 1950s. Those who were on the staff of America's central bank were relegated to the basement, at a safe remove from the corridors where real decisions were made.

Economists had their uses, allowed William McChesney Martin, then the Fed's chairman. But they also had 'a far greater sense of confidence in their analyses than I have found to be warranted'. They were best kept down with the surplus furniture and the rats." • Indeed!

[Sep 02, 2019] Where is Margaret Thatcher now?

Highly recommended!
Sep 02, 2019 | www.nakedcapitalism.com

ambrit , , August 31, 2019 at 11:55 am

Thatcher was an English politico. It is not what she said, but what she did that counts. She is probably down in Dante's Inferno, Ring 8, sub-rings 7-10. (Frauds and false councilors.) See, oh wayward sinners: http://danteworlds.laits.utexas.edu/circle8b.html

The Rev Kev , , September 2, 2019 at 12:37 am

Ring 8, sub-rings 7-10? She will probably find Milton Friedman in the basement there.

ambrit , September 2, 2019 at 7:09 am

Ah, you think that Milton should be at the bottom, eh? Then, I hope that he knows how to ice skate. (He was the worst kind of 'class traitor.' [His parents were small store owner/managers.])

Ring 8 of the Inferno is for 'frauds' of all sorts, sub-rings 7-10 are reserved for Thieves, Deceivers, Schismatics, and Falsifiers. Maggie should feel right at home there.

[Sep 02, 2019] Questions Nobody Is Asking About Jeffrey Epstein by Eric Rasmusen

Highly recommended!
While details on Epstein death are not interesting (he ended like a regular pimp) the corruption of high level officials his case revealed in more troubling.
Notable quotes:
"... Epstein was released, and various lawsuits were filed against him and settled out of court, presumably in exchange for silence. The media was quiet or complimentary as Epstein worked his way back into high society. ..."
"... What would I do if I were Epstein? I'd try to get the President, the Attorney-General, or the U.S. Attorney for the Southern District of New York to shut down the investigation before it went public. I'd have all my friends and all my money try to pressure them. If it failed and I were arrested, it would be time for the backup plan -- the Deal. I'd try to minimize my prison time, and, just as important, to be put in one of the nicer federal prisons where I could associate with financial wizards and drug lords instead of serial killers, black nationalists, and people with bad breath. ..."
"... What about the powerful people Epstein would turn in to get his deal? They aren't as smart as Epstein, but they would know the Deal was coming -- that Epstein would be quite happy to sacrifice them in exchange for a prison with a slightly better golf course. What could they do? There's only one good option -- to kill Epstein, and do it quickly, before he could start giving information samples to the U. S. Attorney. ..."
"... Trying to kill informers is absolutely routine in the mafia, or indeed, for gangs of any kind. ..."
"... Famous politicians, unlike gangsters, don't have full-time professional hit men on their staffs, but that's just common sense -- politicians rarely need hit men, so it makes more sense to hire them on a piecework basis than as full-time employees. How would they find hit men? You or I wouldn't know how to start, but it would be easy for them. Rich powerful people have bodyguards. Bodyguards are for defense, but the guys who do defense know guys who do offense. And Epstein's friends are professional networkers. One reporter said of Ghislaine Maxwell, "Her Rolodex would blow away almost anyone else's I can think of -- probably even Rupert Murdoch's." They know people who know people. Maybe I'm six degrees of separation from a mafia hit man, but not Ghislaine Maxwell. I bet she knows at least one mafioso personally who knows more than one hit man. ..."
"... Or, if you can hire a New York Times reporter for $30,000 ( as Epstein famously did a couple of years ago), you can spend $200,000 on a competent hit man to make double sure. Government incompetence does not lend support to the suicide theory; quite the opposite. ..."
"... Statutory rape is not a federal crime ..."
"... At any time from 2008 to the present, Florida and New York prosecutors could have gone after Epstein and easily convicted him. The federal nonprosecution agreement did not bind them. And, of course, it is not just Epstein who should have been prosecuted. Other culprits such as Prince Andrew are still at large. ..."
"... Why isn't anybody but Ann Coulter talking about Barry Krischer and Ric Bradshaw, the Florida state prosecutor and sheriff who went easy on Epstein, or the New York City police who let him violate the sex offender regulations? ..."
"... Krischer refused to use the evidence the Palm Beach police gave him except to file a no-jail-time prostitution charge (they eventually went to Acosta, the federal prosecutor, instead, who got a guilty plea with an 18-month sentence). Bradshaw let him spend his days at home instead of at jail. ..."
"... In New York State, the county prosecutor, Cyrus Vance, fought to prevent Epstein from being classified as a Level III sex offender. Once he was, the police didn't enforce the rule that required him to check in every 90 days. ..."
"... Trafficking is a federal offense, so it would have to involve commerce across state lines. It also must involve sale and profit, not just personal pleasure. ..."
"... Here, the publicity and investigative lead is what is most important, because these are reputable and rich offenders for whom publicity is a bigger threat than losing in court. They have very good lawyers, and probably aren't guilty of federal crimes anyway, just state crimes, in corrupt states where they can use clout more effectively. Thus, killing potential informants before they tell the public is more important than killing informants to prevent their testimony at trial, a much more leisurely task. ..."
"... Geoffrey Berman, U.S. Attorney for the Southern District of New York, is the only government official who is clearly trustworthy, because he could have stopped the 2019 Epstein indictment and he didn't. I don't think Attorney-General Barr could have blocked it, and I don't think President Trump could have except by firing Berman. ..."
"... "It was that heart-wrenching series that caught the attention of Congress. Ben Sasse, the Republican senator from Nebraska, joined with his Democratic colleagues and demanded to know how justice had been so miscarried. ..."
"... President Trump didn't have anything personally to fear from Epstein. He is too canny to have gotten involved with him, and the press has been eagerly at work to find the slightest connection between him and Epstein and have come up dry as far as anything but acquaintanceship. But we must worry about a cover-up anyway, because rich and important people would be willing to pay Trump a lot in money or, more likely, in political support, if he does a cover-up. ..."
"... he sealing was completely illegal, as the appeals court politely but devastatingly noted in 2019, and the documents were released a day or two before Epstein died. Someone should check into Judge Sweet's finance and death. He was an ultra-Establishment figure -- a Yale man, alas, like me, and Taft School -- so he might just have been protecting what he considered good people, but his decision to seal the court records was grossly improper. ..."
"... Did Epstein have any dealings in sex, favors, or investments with any Republican except Wexner? ..."
"... Dershowitz, Mitchell, Clinton, Richardson, Dubin, George Stephanopolous, Lawrence Krauss, Katie Couric, Mortimer Zuckerman, Chelsea Handler, Cyrus Vance, and Woody Allen, are all Democrats. Did Epstein ever make use of Republicans? Don't count Trump, who has not been implicated despite the media's best efforts and was probably not even a Republican back in the 90's. Don't count Ken Starr– he's just one of Epstein's lawyers. Don't count scientists who just took money gifts from him. (By the way, Epstein made very little in the way of political contributions , though that little went mostly to Democrats ( $139,000 vs. $18,000 . I bet he extracted more from politicians than he gave to them. ..."
"... What role did Israeli politician Ehud Barak play in all this? ..."
"... Remember Marc Rich? He was a billionaire who fled the country to avoid a possible 300 years prison term, and was pardoned by Bill Clinton in 2001. Ehud Barak, one of Epstein's friends, was one of the people who asked for Rich to be pardoned . Epstein, his killers, and other rich people know that as a last resort they can flee the country and wait for someone like Clinton to come to office and pardon them. ..."
"... "intelligence" is also the kind of excuse people make up so they don't have to say "political pressure." ..."
"... James Patterson and John Connolly published Filthy Rich: A Powerful Billionaire, the Sex Scandal that Undid Him , and All the Justice that Money Can Buy: The Shocking True Story of Jeffrey Epstein . Conchita Sarnoff published TrafficKing: The Jeffrey Epstein Case. I never heard of these before 2019. Did the media bury them? ..."
"... There seems to have been an orchestrated attempt to divert attention to the issue of suicides in prison. Subtle differences in phrasing might help reveal who's been paid off. National Review had an article, "The Conspiracy Theories about Jeffrey Epstein's Death Don't Make Much Sense." The article contains no evidence or argument to support the headline's assertion, just bluster about "madness" and "conspiracy theories". Who else publishes stuff like this? ..."
"... The New York Times was, to its credit, willing to embarrass other publications by 2019. But the Times itself had been part of the cover-up in previous years . Who else was? ..."
"... Not one question involving Maurene Comey, then? She was one of the SDNY prosecutors assigned to this case, and her name has been significantly played down (if at all visible) in the reportage before or after Epstein's death. That she just "happened" to be on this case at all is quite an eyebrow raiser especially with her father under the ongoing "Spygate" investigation ..."
"... As important as it is to go on asking questions about the life and death of Jeffrey Epstein, I have to admit that personally I'm just not interested. I've always found people of his social class to be vaguely repulsive even without the sordid sex allegations. Just their demanding personalities, just the thought of them hanging around in their terrycloth jogging suits, sneering at the world with their irrefrangible arrogance, is enough to make me shudder. I want nothing of their nightmare world; and when they die, I couldn't care less. ..."
"... We are supposed to have faith in this rubbish? The cameras malfunctioned. He didn't have a cellmate. The guards were tired and forced to work overtime. ..."
"... One tiny mention of Jewish magnate Les Wexner but no mention how he & the Bronfmans founded the 'Mega Group' of ultra-Zionist billionaires regularly meeting as to how they could prop up the Jewish state by any & all means, Wexner being the source of many Epstein millions, the original buyer of the NYC mansion he transferred to Epstein etc the excellent Epstein series by Whitney Webb on Mint Press covering all this https://www.mintpressnews.com/author/whitney-webb/ ..."
"... ex-OSS father Donald Barr had written a 'fantasy novel' on sex slavery with scenes of rape of underage teens, 'Space Relations', written whilst Don Barr was headmaster of the Dalton school, which gave Epstein his first job, teaching teens ..."
Sep 02, 2019 | www.unz.com

The Jeffrey Epstein case is notable for the ups and downs in media coverage it's gotten over the years. Everybody, it seems, in New York society knew by 2000 that Jeffrey Epstein and Ghislaine Maxwell were corrupting teenage girls, but the press wouldn't cover it. Articles by New York in 2002 and Vanity Fair in 2003 alluded to it gently, while probing Epstein's finances more closely. In 2005, the Palm Beach police investigated. The county prosecutor, Democrat Barry Krischer, wouldn't prosecute for more than prostitution, so they went to the federal prosecutor, Republican Alexander Acosta, and got the FBI involved. Acosta's office prepared an indictment, but before it was filed, he made a deal: Epstein agreed to plead guilty to a state law felony and receive a prison term of 18 months. In exchange, the federal interstate sex trafficking charges would not be prosecuted by Acosta's office. Epstein was officially at the county jail for 13 months, where the county officials under Democratic Sheriff Ric Bradshaw gave him scandalously easy treatment , letting him spend his days outside, and letting him serve a year of probation in place of the last 5 months of his sentence. Acosta's office complained, but it was a county jail, not a federal jail, so he was powerless.

Epstein was released, and various lawsuits were filed against him and settled out of court, presumably in exchange for silence. The media was quiet or complimentary as Epstein worked his way back into high society. Two books were written about the affair, and fell flat. The FBI became interested again around 2011 ( a little known fact ) and maybe things were happening behind the scenes, but the next big event was in 2018 when the Miami Herald published a series of investigative articles rehashing what had happened.

In 2019 federal prosecutors indicted Epstein, he was put in jail, and he mysteriously died. Now, after much complaining in the press about how awful jails are and how many people commit suicide, things are quiet again, at least until the Justice Department and the State of Florida finish their investigation a few years from now. (For details and more links, see " Investigation: Jeffrey Epstein "at Medium.com and " Jeffrey Epstein " at Wikipedia .)

I'm an expert in the field of "game theory", strategic thinking. What would I do if I were Epstein? I'd try to get the President, the Attorney-General, or the U.S. Attorney for the Southern District of New York to shut down the investigation before it went public. I'd have all my friends and all my money try to pressure them. If it failed and I were arrested, it would be time for the backup plan -- the Deal. I'd try to minimize my prison time, and, just as important, to be put in one of the nicer federal prisons where I could associate with financial wizards and drug lords instead of serial killers, black nationalists, and people with bad breath.

That's what Epstein would do. What about the powerful people Epstein would turn in to get his deal? They aren't as smart as Epstein, but they would know the Deal was coming -- that Epstein would be quite happy to sacrifice them in exchange for a prison with a slightly better golf course. What could they do? There's only one good option -- to kill Epstein, and do it quickly, before he could start giving information samples to the U. S. Attorney.

Trying to kill informers is absolutely routine in the mafia, or indeed, for gangs of any kind. The reason people call such talk "conspiracy theories" when it comes to Epstein is that his friends are WASPs and Jews, not Italians and Mexicans. But WASPs and Jews are human too. They want to protect themselves. Famous politicians, unlike gangsters, don't have full-time professional hit men on their staffs, but that's just common sense -- politicians rarely need hit men, so it makes more sense to hire them on a piecework basis than as full-time employees. How would they find hit men? You or I wouldn't know how to start, but it would be easy for them. Rich powerful people have bodyguards. Bodyguards are for defense, but the guys who do defense know guys who do offense. And Epstein's friends are professional networkers. One reporter said of Ghislaine Maxwell, "Her Rolodex would blow away almost anyone else's I can think of -- probably even Rupert Murdoch's." They know people who know people. Maybe I'm six degrees of separation from a mafia hit man, but not Ghislaine Maxwell. I bet she knows at least one mafioso personally who knows more than one hit man.

In light of this, it would be very surprising if someone with a spare $50 million to spend to solve the Epstein problem didn't give it a try. A lot of people can be bribed for $50 million. Thus, we should have expected to see bribery attempts. If none were detected, it must have been because prison workers are not reporting they'd been approached.

Some people say that government incompetence is always a better explanation than government malfeasance. That's obviously wrong -- when an undeserving business gets a contract, it's not always because the government official in charge was just not paying attention. I can well believe that prisons often take prisoners off of suicide watch too soon, have guards who go to sleep and falsify records, remove cellmates from prisoners at risk of suicide or murder, let the TV cameras watching their most important prisoners go on the blink, and so forth. But that cuts both ways.

Remember, in the case of Epstein, we'd expect a murder attempt whether the warden of the most important federal jail in the country is competent or not. If the warden is incompetent, we should expect that murder attempt to succeed. Murder becomes all the more more plausible. Instead of spending $50 million to bribe 20 guards and the warden, you just pay some thug $30,000 to walk in past the snoring guards, open the cell door, and strangle the sleeping prisoner, no fancy James Bond necessary. Or, if you can hire a New York Times reporter for $30,000 ( as Epstein famously did a couple of years ago), you can spend $200,000 on a competent hit man to make double sure. Government incompetence does not lend support to the suicide theory; quite the opposite.

Now to my questions.

Why is nobody blaming the Florida and New York state prosecutors for not prosecuting Epstein and others for statutory rape?

Statutory rape is not a federal crime, so it is not something the Justice Dept. is supposed to investigate or prosecute. They are going after things like interstate sex trafficking. Interstate sex trafficking is generally much harder to prove than statutory rape, which is very easy if the victims will testify.

At any time from 2008 to the present, Florida and New York prosecutors could have gone after Epstein and easily convicted him. The federal nonprosecution agreement did not bind them. And, of course, it is not just Epstein who should have been prosecuted. Other culprits such as Prince Andrew are still at large.

Note that if even if the evidence is just the girl's word against Ghislaine Maxwell's or Prince Andrew's, it's still quite possible to get a jury to convict. After all, who would you believe, in a choice between Maxwell, Andrew, and Anyone Else in the World? For an example of what can be done if the government is eager to convict, instead of eager to protect important people, see the 2019 Cardinal Pell case in Australia. He was convicted by the secret testimony of a former choirboy, the only complainant, who claimed Pell had committed indecent acts during a chance encounter after Mass before Pell had even unrobed. Naturally, the only cardinal to be convicted of anything in the Catholic Church scandals is also the one who's done the most to fight corruption. Where there's a will, there's a way to prosecute. It's even easier to convict someone if he's actually guilty.

Why isn't anybody but Ann Coulter talking about Barry Krischer and Ric Bradshaw, the Florida state prosecutor and sheriff who went easy on Epstein, or the New York City police who let him violate the sex offender regulations?

Krischer refused to use the evidence the Palm Beach police gave him except to file a no-jail-time prostitution charge (they eventually went to Acosta, the federal prosecutor, instead, who got a guilty plea with an 18-month sentence). Bradshaw let him spend his days at home instead of at jail.

In New York State, the county prosecutor, Cyrus Vance, fought to prevent Epstein from being classified as a Level III sex offender. Once he was, the police didn't enforce the rule that required him to check in every 90 days.

How easy would it have been to prove in 2016 or 2019 that Epstein and his people were guilty of federal sex trafficking?

Not easy, I should think. It wouldn't be enough to prove that Epstein debauched teenagers. Trafficking is a federal offense, so it would have to involve commerce across state lines. It also must involve sale and profit, not just personal pleasure. The 2019 indictment is weak on this. The "interstate commerce" looks like it's limited to Epstein making phone calls between Florida and New York. This is why I am not completely skeptical when former U.S. Attorney Acosta says that the 2008 nonprosecution deal was reasonable. He had strong evidence the Epstein violated Florida state law -- but that wasn't relevant. He had to prove violations of federal law.

Why didn't Epstein ask the Court, or the Justice Dept., for permission to have an unarmed guard share his cell with him?

Epstein had no chance at bail without bribing the judge, but this request would have been reasonable. That he didn't request a guard is, I think, the strongest evidence that he wanted to die. If he didn't commit suicide himself, he was sure making it easy for someone else to kill him.

Could Epstein have used the safeguard of leaving a trove of photos with a friend or lawyer to be published if he died an unnatural death?

Well, think about it -- Epstein's lawyer was Alan Dershowitz. If he left photos with someone like Dershowitz, that someone could earn a lot more by using the photos for blackmail himself than by dutifully carrying out his perverted customer's instructions. The evidence is just too valuable, and Epstein was someone whose friends weren't the kind of people he could trust. Probably not even his brother.

Who is in danger of dying next?

Prison workers from guard to warden should be told that if they took bribes, their lives are now in danger. Prison guards may not be bright enough to realize this. Anybody who knows anything important about Epstein should be advised to publicize their information immediately. That is the best way to stay alive.

This is not like a typical case where witnesses get killed so they won't testify. It's not like with gangsters. Here, the publicity and investigative lead is what is most important, because these are reputable and rich offenders for whom publicity is a bigger threat than losing in court. They have very good lawyers, and probably aren't guilty of federal crimes anyway, just state crimes, in corrupt states where they can use clout more effectively. Thus, killing potential informants before they tell the public is more important than killing informants to prevent their testimony at trial, a much more leisurely task.

What happened to Epstein's body?

The Justice Dept. had better not have let Epstein's body be cremated. And they'd better give us convincing evidence that it's his body. If I had $100 million to get out of jail with, acquiring a corpse and bribing a few people to switch fingerprints and DNA wouldn't be hard. I find it worrying that the government has not released proof that Epstein is dead or a copy of the autopsy.

Was Epstein's jail really full of mice?

The New York Times says,

"Beyond its isolation, the wing is infested with rodents and cockroaches, and inmates often have to navigate standing water -- as well as urine and fecal matter -- that spills from faulty plumbing, accounts from former inmates and lawyers said. One lawyer said mice often eat his clients' papers."

" Often have to navigate standing water"? "Mice often eat his clients' papers?" Really? I'm skeptical. What do the vermin eat -- do inmates leave Snickers bars open in their cells? Has anyone checked on what the prison conditions really like?

Is it just a coincidence that Epstein made a new will two days before he died?

I can answer this one. Yes, it is coincidence, though it's not a coincidence that he rewrote the will shortly after being denied bail. The will leaves everything to a trust, and it is the trust document (which is confidential), not the will (which is public), that determines who gets the money. Probably the only thing that Epstein changed in his will was the listing of assets, and he probably changed that because he'd just updated his list of assets for the bail hearing anyway, so it was a convenient time to update the will.

Did Epstein's veiled threat against DOJ officials in his bail filing backfire?

Epstein's lawyers wrote in his bail request,

"If the government is correct that the NPA does not, and never did, preclude a prosecution in this district, then the government will likely have to explain why it purposefully delayed a prosecution of someone like Mr. Epstein, who registered as a sex offender 10 years ago and was certainly no stranger to law enforcement. There is no legitimate explanation for the delay."

I see this as a veiled threat. The threat is that Epstein would subpoena people and documents from the Justice Department relevant to the question of why there was a ten-year delay before prosecution, to expose the illegitimate explanation for the delay. Somebody is to blame for that delay, and court-ordered disclosure is a bigger threat than an internal federal investigation.

Who can we trust?

Geoffrey Berman, U.S. Attorney for the Southern District of New York, is the only government official who is clearly trustworthy, because he could have stopped the 2019 Epstein indictment and he didn't. I don't think Attorney-General Barr could have blocked it, and I don't think President Trump could have except by firing Berman. I do trust Attorney-General Barr, however, from what I've heard of him and because he instantly and publicly said he would have not just the FBI but the Justice Dept. Inspector-General investigate Epstein's death, and he quickly fired the federal prison head honcho. The FBI is untrustworthy, but Inspector-Generals are often honorable.

Someone else who may be a hero in this is Senator Ben Sasse. Vicki Ward writes in the Daily Beast :

"It was that heart-wrenching series that caught the attention of Congress. Ben Sasse, the Republican senator from Nebraska, joined with his Democratic colleagues and demanded to know how justice had been so miscarried.

Given the political sentiment, it's unsurprising that the FBI should feel newly emboldened to investigate Epstein -- basing some of their work on Brown's excellent reporting."

Will President Trump Cover Up Epstein's Death in Exchange for Political Leverage?

President Trump didn't have anything personally to fear from Epstein. He is too canny to have gotten involved with him, and the press has been eagerly at work to find the slightest connection between him and Epstein and have come up dry as far as anything but acquaintanceship. But we must worry about a cover-up anyway, because rich and important people would be willing to pay Trump a lot in money or, more likely, in political support, if he does a cover-up.

Why did Judge Sweet order Epstein documents sealed in 2017. Did he die naturally in 2019?

Judge Robert Sweet in 2017 ordered all documents in an Epstein-related case sealed. He died in May 2019 at age 96, at home in Idaho. The sealing was completely illegal, as the appeals court politely but devastatingly noted in 2019, and the documents were released a day or two before Epstein died. Someone should check into Judge Sweet's finance and death. He was an ultra-Establishment figure -- a Yale man, alas, like me, and Taft School -- so he might just have been protecting what he considered good people, but his decision to seal the court records was grossly improper.

Did Epstein have any dealings in sex, favors, or investments with any Republican except Wexner?

Dershowitz, Mitchell, Clinton, Richardson, Dubin, George Stephanopolous, Lawrence Krauss, Katie Couric, Mortimer Zuckerman, Chelsea Handler, Cyrus Vance, and Woody Allen, are all Democrats. Did Epstein ever make use of Republicans? Don't count Trump, who has not been implicated despite the media's best efforts and was probably not even a Republican back in the 90's. Don't count Ken Starr– he's just one of Epstein's lawyers. Don't count scientists who just took money gifts from him. (By the way, Epstein made very little in the way of political contributions , though that little went mostly to Democrats ( $139,000 vs. $18,000 . I bet he extracted more from politicians than he gave to them.

What role did Israeli politician Ehud Barak play in all this?

Remember Marc Rich? He was a billionaire who fled the country to avoid a possible 300 years prison term, and was pardoned by Bill Clinton in 2001. Ehud Barak, one of Epstein's friends, was one of the people who asked for Rich to be pardoned . Epstein, his killers, and other rich people know that as a last resort they can flee the country and wait for someone like Clinton to come to office and pardon them.

Acosta said that Washington Bush Administration people told him to go easy on Epstein because he was an intelligence source. That is plausible. Epstein had info and blackmailing ability with people like Ehud Barak, leader of Israel's Labor Party. But "intelligence" is also the kind of excuse people make up so they don't have to say "political pressure."

Why did nobody pay attention to the two 2016 books on Epstein?

James Patterson and John Connolly published Filthy Rich: A Powerful Billionaire, the Sex Scandal that Undid Him , and All the Justice that Money Can Buy: The Shocking True Story of Jeffrey Epstein . Conchita Sarnoff published TrafficKing: The Jeffrey Epstein Case. I never heard of these before 2019. Did the media bury them?

Which newspapers reported Epstein's death as "suicide" and which as "apparent suicide"?

More generally, which media outlets seem to be trying to brush Epstein's death under the rug? There seems to have been an orchestrated attempt to divert attention to the issue of suicides in prison. Subtle differences in phrasing might help reveal who's been paid off. National Review had an article, "The Conspiracy Theories about Jeffrey Epstein's Death Don't Make Much Sense." The article contains no evidence or argument to support the headline's assertion, just bluster about "madness" and "conspiracy theories". Who else publishes stuff like this?

How much did Epstein corrupt the media from 2008 to 2019?

Even outlets that generally publish good articles must be suspected of corruption. Epstein made an effort to get good publicity. The New York Times wrote,

"The effort led to the publication of articles describing him as a selfless and forward-thinking philanthropist with an interest in science on websites like Forbes, National Review and HuffPost .

All three articles have been removed from their sites in recent days, after inquiries from The New York Times .

The National Review piece, from the same year, called him "a smart businessman" with a "passion for cutting-edge science."

Ms. Galbraith was also a publicist for Mr. Epstein, according to several news releases promoting Mr. Epstein's foundations In the article that appeared on the National Review site, she described him as having "given thoughtfully to countless organizations that help educate underprivileged children."

"We took down the piece, and regret publishing it," Rich Lowry, the editor of National Review since 1997, said in an email. He added that the publication had "had a process in place for a while now to weed out such commercially self-interested pieces from lobbyists and PR flacks.""

The New York Times was, to its credit, willing to embarrass other publications by 2019. But the Times itself had been part of the cover-up in previous years . Who else was?

Eric Rasmusen is an economist who has held an endowed chair at Indiana University's Kelley School of Business and visiting positions at Harvard Law School, Yale Law School, the Harvard Economics Department, Chicago's Booth School of Business, Nuffield College/Oxford, and the University of Tokyo Economics Department. He is best known for his book Games and Information. He has published extensively in law and economics, including recent articles on the burakumin outcastes in Japan, the use of game theory in jurisprudence, and quasi-concave functions. The views expressed here are his personal views and are not intended to represent the views of the Kelley School of Business or Indiana University. His vitae is at http://www.rasmusen.org/vita.htm .


Paul.Martin , says: September 2, 2019 at 3:54 am GMT

Not one question involving Maurene Comey, then? She was one of the SDNY prosecutors assigned to this case, and her name has been significantly played down (if at all visible) in the reportage before or after Epstein's death. That she just "happened" to be on this case at all is quite an eyebrow raiser especially with her father under the ongoing "Spygate" investigation

Apparently, there will always be many players on the field, and many ways to do damage control.

utu , says: September 2, 2019 at 4:43 am GMT

How easy would it have been to prove in 2016 or 2019 that Epstein and his people were guilty of federal sex trafficking?

It would be very easy for a motivated prosecutor.

Mann Act: https://en.wikipedia.org/wiki/Mann_Act The Mann Act was successfully used to prosecute several Christian preachers in 2008, 2010 and 2012.

So the problem was finding a motivated prosecutor in case of Jewish predator with very likely links to intelligence services of several countries. The motivation was obviously lacking.

Your "expertise" in game theory would be greatly improved if you let yourself consider the Jewish factor.

Intelligent Dasein , says: Website September 2, 2019 at 4:44 am GMT
As important as it is to go on asking questions about the life and death of Jeffrey Epstein, I have to admit that personally I'm just not interested. I've always found people of his social class to be vaguely repulsive even without the sordid sex allegations. Just their demanding personalities, just the thought of them hanging around in their terrycloth jogging suits, sneering at the world with their irrefrangible arrogance, is enough to make me shudder. I want nothing of their nightmare world; and when they die, I couldn't care less.
utu , says: September 2, 2019 at 4:46 am GMT

More generally, which media outlets seem to be trying to brush Epstein's death under the rug?

Not the National Enquirer:

Jeffrey Epstein Murder Cover-up Exposed!
Death Scene Staged to Look Like Suicide
Billionaire's Screams Ignored by Guards!
Fatal Attack Caught on Jail Cameras!
Autopsy is Hiding the Truth!

National Enquirer, Sept 2. 2019
https://reader.magzter.com/preview/7l5c5vd5t28thcmigloxel3670370/367037

Mark James , says: September 2, 2019 at 6:33 am GMT
I don't hold AG Barr in the high regard this piece does. While I'm not suggesting he had anything to do with Epstein's death I do think he's corrupt. I doubt he will do anything that leads to the truth. As for him relieving the warden of his duties, I would hope that was to be expected, wasn't it? I mean he only had two attempts on Epstein's life with the second being a success. Apparently the first didn't jolt the warden into some kind of action as it appears he was guilty of a number of sins including 'Sloth.'

As for the publications that don't like conspiracy theories –like the National Review -- they are a hoot. We are supposed to have faith in this rubbish? The cameras malfunctioned. He didn't have a cellmate. The guards were tired and forced to work overtime. There was no camera specifically in the cell with Epstein.
In the end I think Epstein probably was allowed to kill himself but I'm not confident in that scenario at all. And yes the media should pressure Barr to hav e a look in the cell and see exactly how a suicide attempt might have succeeded or if it was a long-shot at best, given the materiel and conditions.

SafeNow , says: September 2, 2019 at 6:49 am GMT
19. Why is the non-prosecution agreement ambiguous ("globally" binding), when it was written by the best lawyers in the country for a very wealthy client? Was the ambiguity bargained-for? If so, what are the implications?

20. With "globally" still being unresolved (to the bail judge's first-paragraph astonishment), why commit suicide now?

21. The "it was malfeasance" components are specified. For mere malfeasance to have been the cause, all of the components would have to be true; it would be a multiplicative function of the several components. Is no one sufficiently quantitative to estimate the magnitude?

22. What is the best single takeaway phrase that emerges from all of this? My nomination is: "In your face." The brazen, shameless, unprecedented, turning-point, in-your-faceness of it.

sally , says: September 2, 2019 at 7:32 am GMT
ER the answer is easy to you list of questions .. there is no law in the world when violations are not prosecuted and fair open for all to see trials are not held and judges do not deliver the appropriate penalties upon convictions. .. in cases involving the CIA prosecution it is unheard of that a open for all to see trial takes place.

This is why we the governed masses need a parallel government..

such an oversight government would allow to pick out the negligent or wilful misconduct of persons in functional government and prosecute such persons in the independent people's court.. Without a second government to oversee the first government there is no democracy; democracy cannot stand and the governed masses will never see the light of a fair day .. unless the masses have oversight authority on what is to be made into law, and are given without prejudice to their standing in America the right to charge those associated to government with negligent or wilful misconduct.

mypoint

Anonymous [425] Disclaimer , says: Website September 2, 2019 at 7:33 am GMT

https://www.youtube.com/embed/fMG8SVrqstg?feature=oembed

Brabantian , says: September 2, 2019 at 8:31 am GMT
There are big questions this article is not asking either

The words 'Mossad' seems not to appear above, and just a brief mention of 'Israel' with Ehud Barak

One tiny mention of Jewish magnate Les Wexner but no mention how he & the Bronfmans founded the 'Mega Group' of ultra-Zionist billionaires regularly meeting as to how they could prop up the Jewish state by any & all means, Wexner being the source of many Epstein millions, the original buyer of the NYC mansion he transferred to Epstein etc the excellent Epstein series by Whitney Webb on Mint Press covering all this
https://www.mintpressnews.com/author/whitney-webb/

Was escape to freedom & Israe,l the ultimate payoff for Epstein's decades of work for Mossad, grooming and abusing young teens, filmed in flagrante delicto with prominent people for political blackmail?

Is it not likely this was a Mossad jailbreak covered by fake 'suicide', with Epstein alive now, with US gov now also in possession of the assumed Epstein sexual blackmail video tapes?

We have the Epstein 'death in jail' under the US Attorney General Bill Barr, a former CIA officer 1973-77, the CIA supporting him thru night law school, Bill Barr's later law firm Kirkland Ellis representing Epstein

Whose Jewish-born ex-OSS father Donald Barr had written a 'fantasy novel' on sex slavery with scenes of rape of underage teens, 'Space Relations', written whilst Don Barr was headmaster of the Dalton school, which gave Epstein his first job, teaching teens

So would a crypto-Jewish 'former' CIA officer who is now USA Attorney General, possibly help a Mossad political blackmailer escape to Israel after a fake 'jail suicide'?

An intriguing 4chan post a few hours after Epstein's 'body was discovered', says Epstein was put in a wheelchair and driven out of the jail in a van, accompanied by a man in a green military uniform – timestamp is USA Pacific on the screencap apparently, so about 10:44 NYC time Sat.10 Aug

FWIW, drone video of Epstein's Little St James island from Friday 30 August, shows a man who could be Epstein himself, on the left by one vehicle, talking to a black man sitting on a quad all-terrain unit

Close up of Epstein-like man between vehicles, from video note 'pale finger' match-up to archive photo Epstein

Anon [261] Disclaimer , says: September 2, 2019 at 8:34 am GMT
The thing that sticks out for me is that Epstein was caught, charged, and went to jail previously, but he didn't die . The second time, it appears he was murdered. I strongly suspect that the person who murdered Epstein was someone who only met Epstein after 2008, or was someone Epstein only procured for after 2008. Otherwise, this person would have killed Epstein back when Epstein was charged by the cops the first time.

Either that, or the killer is someone who is an opponent of Trump, and this person was genuinely terrified that Trump would pressure the Feds to avoid any deals and to squeeze all the important names out of Epstein and prosecute them, too.

anonymous [340] Disclaimer , says: September 2, 2019 at 8:37 am GMT
The author professes himself "expert in the field of "game theory", strategic thinking," but he doesn't say how his 18 questions were arrived at to the exclusion of hundreds of others. Instead, the column includes several casual assumptions and speculation. For example:

As to this last, isn't "quickly [firing] the federal prison head honcho" consistent with a failure-to-prevent-suicide deflection strategy? And has Mr. Rasmusen not "heard" of the hiring of Mr. Epstein by Mr. Barr's father? Or of the father's own Establishment background?

I hope to be wrong, but my own hunch is that these investigations, like the parallel investigations of the RussiaGate hoax, will leave the elite unscathed. I also hope that in the meantime we see more rigorous columns here than this one.

Miro23 , says: September 2, 2019 at 9:45 am GMT

...Also, subsequently, it should have been a top priority to arrest Ghislaine Maxwell but the government, justice and media lack interest . Apparently, they don't know where she is, and they're not making any special efforts to find out.

Sick of Orcs , says: September 2, 2019 at 9:45 am GMT
Epstein had no "dead man's switch" which would release what he knew to media? C'mon! This is basic Villainy 101.

[Aug 25, 2019] Trump and the value of the 90 days probation period for any newly elected President

Aug 25, 2019 | www.zerohedge.com

youshallnotkill , 2 hours ago link

The markets love nothing more than uncertainty. Anybody who says otherwise is spreading fake news. /s

Serious question: Is he shorting the market? Nobody can be this dumb or demented.

free corn , 2 hours ago link

Never underestimate a comedian!

steverino999 , 2 hours ago link

It's just too bad being elected President doesn't come with a 90-day probationary period that many employers use, because if they did Mike Pence would be considering a 2nd Term run right now.........

[Aug 23, 2019] I believe being oblivious is the main qualification for being a successful mainstream economist.

Notable quotes:
"... I believe being oblivious is the main qualification for being a successful mainstream economist. ..."
Aug 23, 2019 | www.nakedcapitalism.com

Skip Intro , , August 23, 2019 at 2:29 pm

I believe being oblivious is the main qualification for being a successful mainstream economist.

[Aug 23, 2019] Poorly targeted is in reality "richly targeted" under neoliberalism

Aug 23, 2019 | www.nakedcapitalism.com

Samuel Conner , August 23, 2019 at 7:30 am

"Government set to inject more than $1 Trillion into US economy this year, but poorly targeted and still isn't enough to improve the lives of most people".

fixed it.

Elspeth , August 23, 2019 at 11:16 am

"poorly targeted", no no my friend it's benefiting the ususally suspects.

Synoia , August 23, 2019 at 11:23 am

"richly targeted" would be most accurate.

[Aug 23, 2019] Is nonsense economic throes promoted by NYT a deliberate policy or are they really ignorant ?

Aug 23, 2019 | www.nakedcapitalism.com

templar555510 , August 23, 2019 at 8:41 am

Spot-on . Whenever I read this nonsense in the NYT or elsewhere I always ask myself the same question ' Is this deliberate or are they really ignorant ? ' . I suspect the latter, but I could be wrong.

MichaelSF , August 23, 2019 at 12:17 pm

There's no reason it can't be both.

[Aug 23, 2019] Austerity is Prosperity

Aug 23, 2019 | www.nakedcapitalism.com

Ian Perkins , August 23, 2019 at 10:57 am

"War Is Peace, Freedom Is Slavery, Ignorance Is Strength." And if Orwell were still around, perhaps he would add: Austerity is Prosperity.

Synoia , August 23, 2019 at 11:24 am

Warriors are Peacekeepers

[Aug 23, 2019] Checkmate, liberals

Aug 23, 2019 | www.nakedcapitalism.com

Dr. James Rustler , August 23, 2019 at 2:03 pm

Excuse me, how can the deficit be increasing [with Trump tax cuts]?

I was told that a simple bell curve graph called the 'Laffer Curve' indicates that cutting taxes increases growth which increases revenue. Its simply mathematics.

Checkmate, liberals

[Aug 23, 2019] I remember when Qaddafi was murdered and Libya fell. Within the first day or two a central bank was set up in Libya. And look how well that is working out for them.

Aug 23, 2019 | www.nakedcapitalism.com

The Rev Kev , August 23, 2019 at 7:06 pm

Well, Lawrence H. Summers is right to worry when he says "Can central banking as we know it be the primary tool of macroeconomic stabilization in the industrial world over the next decade?"

I remember when Qaddafi was murdered and Libya fell. Within the first day or two a central bank was set up in Libya. And look how well that is working out for them.

[Aug 23, 2019] Investment advice from Wall Street for workers and their 401k just before the Great Recession: "Don't worry about the price. Invest now as much as you can. You can't predict the market "

Aug 23, 2019 | www.nakedcapitalism.com

Summer , August 23, 2019 at 7:32 pm

"It sure is weird that the labor market is the only place where the magic of the marketplace -- price! -- doesn't work."

I also hear weirdness about price considerations when I read investment advice for workers and their 401ks.
"Don't worry about the price. Invest now as much as you can. You can't predict the market "
(Looks down at Twitter feed).

[Aug 23, 2019] One can hope that Larry Summers will eventually convert to MMT, especially if he get a stipend for that

Aug 23, 2019 | www.nakedcapitalism.com

Samuel Conner , August 23, 2019 at 2:21 pm

One can hope that Larry S will eventually convert to MMT, but I intuit that if that does happen, it will only be on his deathbed.

Synoia , August 23, 2019 at 2:38 pm

Or when receiving a huge stipend from a MMT adherent.

a different chris , August 23, 2019 at 3:05 pm

Haha so right and we mistakenly claim that economists don't know how the real economy works. They know, and part of that knowledge is that you need to shill the BS for those with the money if you wanna get your own piece of said pie.

[Aug 20, 2019] Trump is about the agony. The agony of the US centered global neoliberal empire.

Highly recommended!
Notable quotes:
"... The current neoliberal order failed to suppress China development enough to block her from becoming the competitor (and the second largest economy.) ..."
"... That's why a faction of the USA elite decided to adopt "might makes right" policies (essentially piracy instead of international law) in a hope that it will prolong the life of the US-centered neoliberal empire. ..."
"... As much as Trump proved to be inapt politician and personally and morally despicable individual (just his known behavior toward Melania tells a lot about him; we do not need possible Epstein revelations for that) he does represent a faction of the US elite what wants this change. ..."
"... All his pro working class and pro lower middle class rhetoric was a bluff -- he is representative of faction of the US elite that is hell bent on maintaining the imperial superiority achieved after the collapse of the USSR, whatever it takes. At the expense of common people as Pentagon budget can attest. ..."
"... That also explains the appointment of Bolton and Pompeo. That are birds of the feather, not some maniacs (although they are ;-) accidentally brought into Trump administration via major donors pressure. ..."
"... In this sense Russiagate was not only a color revolution launched to depose Trump by neoliberal wing of Democratic Party and rogue, Obama-installed elements within intelligence agencies (Brennan, Comey, McCabe, etc.) , but also part of the struggle between the faction of the US elite that wants "muscular" policy of preservation of the empire (Trump supporters faction so to speak) and the faction that still wants to kick the can down the road via "classic neoliberalism" path (Clinton supporters faction so to speak.) ..."
Aug 20, 2019 | economistsview.typepad.com

likbez -> anne... August 04, 2019 at 04:14 PM

It is not about the strategy. It's about the agony. The agony of the US centered global neoliberal empire.

Trump and forces behind him realized that current set of treaties does not favor the preservation of the empire and allows new powerful players to emerge despite all institutionalized looting via World Bank and IMF and the imposition of Washington Consensus. The main danger here are Germany (and EU in general) and, especially, China.

The current neoliberal order failed to suppress China development enough to block her from becoming the competitor (and the second largest economy.)

That's why a faction of the USA elite decided to adopt "might makes right" policies (essentially piracy instead of international law) in a hope that it will prolong the life of the US-centered neoliberal empire.

As much as Trump proved to be inapt politician and personally and morally despicable individual (just his known behavior toward Melania tells a lot about him; we do not need possible Epstein revelations for that) he does represent a faction of the US elite what wants this change.

All his pro working class and pro lower middle class rhetoric was a bluff -- he is representative of faction of the US elite that is hell bent on maintaining the imperial superiority achieved after the collapse of the USSR, whatever it takes. At the expense of common people as Pentagon budget can attest.

That also explains the appointment of Bolton and Pompeo. That are birds of the feather, not some maniacs (although they are ;-) accidentally brought into Trump administration via major donors pressure.

In this sense Russiagate was not only a color revolution launched to depose Trump by neoliberal wing of Democratic Party and rogue, Obama-installed elements within intelligence agencies (Brennan, Comey, McCabe, etc.) , but also part of the struggle between the faction of the US elite that wants "muscular" policy of preservation of the empire (Trump supporters faction so to speak) and the faction that still wants to kick the can down the road via "classic neoliberalism" path (Clinton supporters faction so to speak.)

[Aug 04, 2019] We see that the neoliberal utopia tends imposes itself even upon the rulers.

Highly recommended!
Aug 04, 2019 | jessescrossroadscafe.blogspot.com

"Thus we see how the neoliberal utopia tends to embody itself in the reality of a kind of infernal machine, whose necessity imposes itself even upon the rulers. Like the Marxism of an earlier time, with which, in this regard, it has much in common, this utopia evokes powerful belief - the free trade faith - not only among those who live off it, such as financiers, the owners and managers of large corporations, etc., but also among those, such as high-level government officials and politicians, who derive their justification for existing from it.

For they sanctify the power of markets in the name of economic efficiency, which requires the elimination of administrative or political barriers capable of inconveniencing the owners of capital in their individual quest for the maximisation of individual profit, which has been turned into a model of rationality. They want independent central banks.

And they preach the subordination of nation-states to the requirements of economic freedom for the masters of the economy, with the suppression of any regulation of any market, beginning with the labour market, the prohibition of deficits and inflation, the general privatisation of public services, and the reduction of public and social expenses."

Pierre Bourdieu, L'essence du néolibéralisme

[Aug 04, 2019] to the liberal economists, free markets were markets free from rent seeking, while to the neoliberals free markets are free from government regulation.

Highly recommended!
Aug 04, 2019 | www.nakedcapitalism.com

Ian Perkins , August 4, 2019 at 10:16 am

Excellent article, I agree.
As regards clear language and definitions, I much prefer Michael Hudson's insistence that, to the liberal economists, free markets were markets free from rent seeking, while to the neoliberals free markets are free from government regulation.
"As governments were democratized, especially in the United States, liberals came to endorse a policy of active public welfare spending and hence government intervention, especially on behalf of the poor and disadvantaged. neoliberalism sought to restore the centralized aristocratic and oligarchic rentier control of domestic politics."
http://michael-hudson.com/2014/01/l-is-for-land/ – "Liberal"

[Aug 04, 2019] Neoliberalism Political Success, Economic Failure

Highly recommended!
Neoliberalism is an amazing ideological construct: secular religion designed for the rich. The level of brainwashing of population under neoliberalism probably exceeds achievable in a long run under Bolshevism and Nazism.
Notable quotes:
"... Neoliberalism's premise is that free markets can regulate themselves; that government is inherently incompetent, captive to special interests, and an intrusion on the efficiency of the market; that in distributive terms, market outcomes are basically deserved; and that redistribution creates perverse incentives by punishing the economy's winners and rewarding its losers. So government should get out of the market's way. ..."
"... By the 1990s, even moderate liberals had been converted to the belief that social objectives can be achieved by harnessing the power of markets. Intermittent periods of governance by Democratic presidents slowed but did not reverse the slide to neoliberal policy and doctrine. The corporate wing of the Democratic Party approved. ..."
"... Now, after nearly half a century, the verdict is in. Virtually every one of these policies has failed, even on their own terms. Enterprise has been richly rewarded, taxes have been cut, and regulation reduced or privatized. The economy is vastly more unequal, yet economic growth is slower and more chaotic than during the era of managed capitalism. Deregulation has produced not salutary competition, but market concentration. Economic power has resulted in feedback loops of political power, in which elites make rules that bolster further concentration. ..."
"... The grand neoliberal experiment of the past 40 years has demonstrated that markets in fact do not regulate themselves. Managed markets turn out to be more equitable and more efficient. Yet the theory and practical influence of neoliberalism marches splendidly on, because it is so useful to society's most powerful people -- as a scholarly veneer to what would otherwise be a raw power grab. The British political economist Colin Crouch captured this anomaly in a book nicely titled The Strange Non-Death of Neoliberalism . Why did neoliberalism not die? As Crouch observed, neoliberalism failed both as theory and as policy, but succeeded superbly as power politics for economic elites. ..."
"... As the great political historian Karl Polanyi warned, when markets overwhelm society, ordinary people often turn to tyrants. In regimes that border on neofascist, klepto-capitalists get along just fine with dictators, undermining the neoliberal premise of capitalism and democracy as complements. Several authoritarian thugs, playing on tribal nationalism as the antidote to capitalist cosmopolitanism, are surprisingly popular. ..."
"... The theory of maximizing shareholder value was deployed to undermine the entire range of financial regulation and workers' rights. Cost-benefit analysis, emphasizing costs and discounting benefits, was used to discredit a good deal of health, safety, and environmental regulation. Public choice theory, associated with the economist James Buchanan and an entire ensuing school of economics and political science, was used to impeach democracy itself, on the premise that policies were hopelessly afflicted by "rent-seekers" and "free-riders." ..."
"... Human capital theory, another variant of neoliberal application of markets to partly social questions, justified deregulating labor markets and crushing labor unions. Unions supposedly used their power to get workers paid more than their market worth. Likewise minimum wage laws. But the era of depressed wages has actually seen a decline in rates of productivity growth. Conversely, does any serious person think that the inflated pay of the financial moguls who crashed the economy accurately reflects their contribution to economic activity? In the case of hedge funds and private equity, the high incomes of fund sponsors are the result of transfers of wealth and income from employees, other stakeholders, and operating companies to the fund managers, not the fruits of more efficient management. ..."
"... Financial deregulation is neoliberalism's most palpable deregulatory failure, but far from the only one. Electricity deregulation on balance has increased monopoly power and raised costs to consumers, but has failed to offer meaningful "shopping around" opportunities to bring down prices. We have gone from regulated monopolies with predictable earnings, costs, wages, and consumer protections to deregulated monopolies or oligopolies with substantial pricing power. Since the Bell breakup, the telephone system tells a similar story of re-concentration, dwindling competition, price-gouging, and union-bashing. ..."
"... As regards clear language and definitions, I much prefer Michael Hudson's insistence that, to the liberal economists, free markets were markets free from rent seeking, while to the neoliberals free markets are free from government regulation. ..."
"... In a political system where the reputedly "labor" party would rather lose with their bribe-taking warmongering Goldwater girl than win with a people's advocate, Houston we have a problem. ..."
"... "Growth for the sake of growth is the ideology of the cancer cell." ..."
"... Neoliberalism gave liberals an excuse to sell out in the name of "fresh thinking." Meanwhile the vast working class had become discredited Archie Bunkers in the eyes of the intellectuals after Vietnam and the Civil Rights struggles. ..."
"... I'd add two other consequences of neoliberalism. One is the increasing alienation of citizens from the mechanism for provision of the basic necessities of life. ..."
"... As Phillip Mirowski patiently explains in Never Let a Serious Crisis Go to Waste, neoliberalism is not laissez faire. Neoliberal desire a strong government to implement their market based nirvana, as long as they control government. ..."
Aug 04, 2019 | www.nakedcapitalism.com

By Robert Kuttner, The American Prospect. Reposted from Alternet .

Since the late 1970s, we've had a grand experiment to test the claim that free markets really do work best. This resurrection occurred despite the practical failure of laissez-faire in the 1930s, the resulting humiliation of free-market theory, and the contrasting success of managed capitalism during the three-decade postwar boom.

Yet when growth faltered in the 1970s, libertarian economic theory got another turn at bat. This revival proved extremely convenient for the conservatives who came to power in the 1980s. The neoliberal counterrevolution, in theory and policy, has reversed or undermined nearly every aspect of managed capitalism -- from progressive taxation, welfare transfers, and antitrust, to the empowerment of workers and the regulation of banks and other major industries.

Neoliberalism's premise is that free markets can regulate themselves; that government is inherently incompetent, captive to special interests, and an intrusion on the efficiency of the market; that in distributive terms, market outcomes are basically deserved; and that redistribution creates perverse incentives by punishing the economy's winners and rewarding its losers. So government should get out of the market's way.

By the 1990s, even moderate liberals had been converted to the belief that social objectives can be achieved by harnessing the power of markets. Intermittent periods of governance by Democratic presidents slowed but did not reverse the slide to neoliberal policy and doctrine. The corporate wing of the Democratic Party approved.

Now, after nearly half a century, the verdict is in. Virtually every one of these policies has failed, even on their own terms. Enterprise has been richly rewarded, taxes have been cut, and regulation reduced or privatized. The economy is vastly more unequal, yet economic growth is slower and more chaotic than during the era of managed capitalism. Deregulation has produced not salutary competition, but market concentration. Economic power has resulted in feedback loops of political power, in which elites make rules that bolster further concentration.

The culprit isn't just "markets" -- some impersonal force that somehow got loose again. This is a story of power using theory. The mixed economy was undone by economic elites, who revised rules for their own benefit. They invested heavily in friendly theorists to bless this shift as sound and necessary economics, and friendly politicians to put those theories into practice.

Recent years have seen two spectacular cases of market mispricing with devastating consequences: the near-depression of 2008 and irreversible climate change. The economic collapse of 2008 was the result of the deregulation of finance. It cost the real U.S. economy upwards of $15 trillion (and vastly more globally), depending on how you count, far more than any conceivable efficiency gain that might be credited to financial innovation. Free-market theory presumes that innovation is necessarily benign. But much of the financial engineering of the deregulatory era was self-serving, opaque, and corrupt -- the opposite of an efficient and transparent market.

The existential threat of global climate change reflects the incompetence of markets to accurately price carbon and the escalating costs of pollution. The British economist Nicholas Stern has aptly termed the worsening climate catastrophe history's greatest case of market failure. Here again, this is not just the result of failed theory. The entrenched political power of extractive industries and their political allies influences the rules and the market price of carbon. This is less an invisible hand than a thumb on the scale. The premise of efficient markets provides useful cover.

The grand neoliberal experiment of the past 40 years has demonstrated that markets in fact do not regulate themselves. Managed markets turn out to be more equitable and more efficient. Yet the theory and practical influence of neoliberalism marches splendidly on, because it is so useful to society's most powerful people -- as a scholarly veneer to what would otherwise be a raw power grab. The British political economist Colin Crouch captured this anomaly in a book nicely titled The Strange Non-Death of Neoliberalism . Why did neoliberalism not die? As Crouch observed, neoliberalism failed both as theory and as policy, but succeeded superbly as power politics for economic elites.

The neoliberal ascendance has had another calamitous cost -- to democratic legitimacy. As government ceased to buffer market forces, daily life has become more of a struggle for ordinary people. The elements of a decent middle-class life are elusive -- reliable jobs and careers, adequate pensions, secure medical care, affordable housing, and college that doesn't require a lifetime of debt. Meanwhile, life has become ever sweeter for economic elites, whose income and wealth have pulled away and whose loyalty to place, neighbor, and nation has become more contingent and less reliable.

Large numbers of people, in turn, have given up on the promise of affirmative government, and on democracy itself. After the Berlin Wall came down in 1989, ours was widely billed as an era when triumphant liberal capitalism would march hand in hand with liberal democracy. But in a few brief decades, the ostensibly secure regime of liberal democracy has collapsed in nation after nation, with echoes of the 1930s.

As the great political historian Karl Polanyi warned, when markets overwhelm society, ordinary people often turn to tyrants. In regimes that border on neofascist, klepto-capitalists get along just fine with dictators, undermining the neoliberal premise of capitalism and democracy as complements. Several authoritarian thugs, playing on tribal nationalism as the antidote to capitalist cosmopolitanism, are surprisingly popular.

It's also important to appreciate that neoliberalism is not laissez-faire. Classically, the premise of a "free market" is that government simply gets out of the way. This is nonsensical, since all markets are creatures of rules, most fundamentally rules defining property, but also rules defining credit, debt, and bankruptcy; rules defining patents, trademarks, and copyrights; rules defining terms of labor; and so on. Even deregulation requires rules. In Polanyi's words, "laissez-faire was planned."

The political question is who gets to make the rules, and for whose benefit. The neoliberalism of Friedrich Hayek and Milton Friedman invoked free markets, but in practice the neoliberal regime has promoted rules created by and for private owners of capital, to keep democratic government from asserting rules of fair competition or countervailing social interests. The regime has rules protecting pharmaceutical giants from the right of consumers to import prescription drugs or to benefit from generics. The rules of competition and intellectual property generally have been tilted to protect incumbents. Rules of bankruptcy have been tilted in favor of creditors. Deceptive mortgages require elaborate rules, written by the financial sector and then enforced by government. Patent rules have allowed agribusiness and giant chemical companies like Monsanto to take over much of agriculture -- the opposite of open markets. Industry has invented rules requiring employees and consumers to submit to binding arbitration and to relinquish a range of statutory and common-law rights.

Neoliberalism as Theory, Policy, and Power

It's worth taking a moment to unpack the term "neoliberalism." The coinage can be confusing to American ears because the "liberal" part refers not to the word's ordinary American usage, meaning moderately left-of-center, but to classical economic liberalism otherwise known as free-market economics. The "neo" part refers to the reassertion of the claim that the laissez-faire model of the economy was basically correct after all.

Few proponents of these views embraced the term neoliberal . Mostly, they called themselves free-market conservatives. "Neoliberal" was a coinage used mainly by their critics, sometimes as a neutral descriptive term, sometimes as an epithet. The use became widespread in the era of Margaret Thatcher and Ronald Reagan.

To add to the confusion, a different and partly overlapping usage was advanced in the 1970s by the group around the Washington Monthly magazine. They used "neoliberal" to mean a new, less statist form of American liberalism. Around the same time, the term neoconservative was used as a self-description by former liberals who embraced conservatism, on cultural, racial, economic, and foreign-policy grounds. Neoconservatives were neoliberals in economics.

Beginning in the 1970s, resurrected free-market theory was interwoven with both conservative politics and significant investments in the production of theorists and policy intellectuals. This occurred not just in well-known conservative think tanks such as the American Enterprise Institute, Heritage, Cato, and the Manhattan Institute, but through more insidious investments in academia. Lavishly funded centers and tenured chairs were underwritten by the Olin, Scaife, Bradley, and other far-right foundations to promote such variants of free-market theory as law and economics, public choice, rational choice, cost-benefit analysis, maximize-shareholder-value, and kindred schools of thought. These theories colonized several academic disciplines. All were variations on the claim that markets worked and that government should get out of the way.

Each of these bodies of sub-theory relied upon its own variant of neoliberal ideology. An intensified version of the theory of comparative advantage was used not just to cut tariffs but to use globalization as all-purpose deregulation. The theory of maximizing shareholder value was deployed to undermine the entire range of financial regulation and workers' rights. Cost-benefit analysis, emphasizing costs and discounting benefits, was used to discredit a good deal of health, safety, and environmental regulation. Public choice theory, associated with the economist James Buchanan and an entire ensuing school of economics and political science, was used to impeach democracy itself, on the premise that policies were hopelessly afflicted by "rent-seekers" and "free-riders."

Click here to read how Robert Kuttner has been unmasking the fallacies of neoliberalism for decades

Market failure was dismissed as a rare special case; government failure was said to be ubiquitous. Theorists worked hand in glove with lobbyists and with public officials. But in every major case where neoliberal theory generated policy, the result was political success and economic failure.

For example, supply-side economics became the justification for tax cuts, on the premise that taxes punished enterprise. Supposedly, if taxes were cut, especially taxes on capital and on income from capital, the resulting spur to economic activity would be so potent that deficits would be far less than predicted by "static" economic projections, and perhaps even pay for themselves. There have been six rounds of this experiment, from the tax cuts sponsored by Jimmy Carter in 1978 to the immense 2017 Tax Cuts and Jobs Act signed by Donald Trump. In every case some economic stimulus did result, mainly from the Keynesian jolt to demand, but in every case deficits increased significantly. Conservatives simply stopped caring about deficits. The tax cuts were often inefficient as well as inequitable, since the loopholes steered investment to tax-favored uses rather than the most economically logical ones. Dozens of America's most profitable corporations paid no taxes.

Robert Bork's "antitrust paradox," holding that antitrust enforcement actually weakened competition, was used as the doctrine to sideline the Sherman and Clayton Acts. Supposedly, if government just got out of the way, market forces would remain more competitive because monopoly pricing would invite innovation and new entrants to the market. In practice, industry after industry became more heavily concentrated. Incumbents got in the habit of buying out innovators or using their market power to crush them. This pattern is especially insidious in the tech economy of platform monopolies, where giants that provide platforms, such as Google and Amazon, use their market power and superior access to customer data to out-compete rivals who use their platforms. Markets, once again, require rules beyond the benign competence of the market actors themselves. Only democratic government can set equitable rules. And when democracy falters, undemocratic governments in cahoots with corrupt private plutocrats will make the rules.

Human capital theory, another variant of neoliberal application of markets to partly social questions, justified deregulating labor markets and crushing labor unions. Unions supposedly used their power to get workers paid more than their market worth. Likewise minimum wage laws. But the era of depressed wages has actually seen a decline in rates of productivity growth. Conversely, does any serious person think that the inflated pay of the financial moguls who crashed the economy accurately reflects their contribution to economic activity? In the case of hedge funds and private equity, the high incomes of fund sponsors are the result of transfers of wealth and income from employees, other stakeholders, and operating companies to the fund managers, not the fruits of more efficient management.

There is a broad literature discrediting this body of pseudo-scholarly work in great detail. Much of neoliberalism represents the ever-reliable victory of assumption over evidence. Yet neoliberal theory lived on because it was so convenient for elites, and because of the inertial power of the intellectual capital that had been created. The well-funded neoliberal habitat has provided comfortable careers for two generations of scholars and pseudo-scholars who migrate between academia, think tanks, K Street, op-ed pages, government, Wall Street, and back again. So even if the theory has been demolished both by scholarly rebuttal and by events, it thrives in powerful institutions and among their political allies.

The Practical Failure of Neoliberal Policies

Financial deregulation is neoliberalism's most palpable deregulatory failure, but far from the only one. Electricity deregulation on balance has increased monopoly power and raised costs to consumers, but has failed to offer meaningful "shopping around" opportunities to bring down prices. We have gone from regulated monopolies with predictable earnings, costs, wages, and consumer protections to deregulated monopolies or oligopolies with substantial pricing power. Since the Bell breakup, the telephone system tells a similar story of re-concentration, dwindling competition, price-gouging, and union-bashing.

Air travel has been a poster child for advocates of deregulation, but the actual record is mixed at best. Airline deregulation produced serial bankruptcies of every major U.S. airline, often at the cost of worker pay and pension funds. Ticket prices have declined on average over the past two decades, but the traveling public suffers from a crazy quilt of fares, declining service, shrinking seats and legroom, and exorbitant penalties for the perfectly normal sin of having to change plans. Studies have shown that fares actually declined at a faster rate in the 20 years before deregulation in 1978 than in the 20 years afterward, because the prime source of greater efficiency in airline travel is the introduction of more fuel-efficient planes. The roller-coaster experience of airline profits and losses has reduced the capacity of airlines to purchase more fuel-efficient aircraft, and the average age of the fleet keeps increasing. The use of "fortress hubs" to defend market pricing power has reduced the percentage of nonstop flights, the most efficient way to fly from one point to another.

In addition to deregulation, three prime areas of practical neoliberal policies are the use of vouchers as "market-like" means to social goals, the privatization of public services, and the use of tax subsides rather than direct outlays. In every case, government revenues are involved, so this is far from a free market to begin with. But the premise is that market disciplines can achieve public purposes more efficiently than direct public provision.

The evidence provides small comfort for these claims. One core problem is that the programs invariably give too much to the for-profit middlemen at the expense of the intended beneficiaries. A related problem is that the process of using vouchers and contracts invites corruption. It is a different form of "rent-seeking" -- pursuit of monopoly profits -- than that attributed to government by public choice theorists, but corruption nonetheless. Often, direct public provision is far more transparent and accountable than a web of contractors.

A further problem is that in practice there is often far less competition than imagined, because of oligopoly power, vendor lock-in, and vendor political influence. These experiments in marketization to serve social goals do not operate in some Platonic policy laboratory, where the only objective is true market efficiency yoked to the public good. They operate in the grubby world of practical politics, where the vendors are closely allied with conservative politicians whose purposes may be to discredit social transfers entirely, or to reward corporate allies, or to benefit from kickbacks either directly or as campaign contributions.

Privatized prisons are a case in point. A few large, scandal-ridden companies have gotten most of the contracts, often through political influence. Far from bringing better quality and management efficiency, they have profited by diverting operating funds and worsening conditions that were already deplorable, and finding new ways to charge inmates higher fees for necessary services such as phone calls. To the extent that money was actually saved, most of the savings came from reducing the pay and professionalism of guards, increasing overcrowding, and decreasing already inadequate budgets for food and medical care.

A similar example is the privatization of transportation services such as highways and even parking meters. In several Midwestern states, toll roads have been sold to private vendors. The governor who makes the deal gains a temporary fiscal windfall, while drivers end up paying higher tolls often for decades. Investment bankers who broker the deal also take their cut. Some of the money does go into highway improvements, but that could have been done more efficiently in the traditional way via direct public ownership and competitive bidding.

Housing vouchers substantially reward landlords who use the vouchers to fill empty houses with poor people until the neighborhood gentrifies, at which point the owner is free to quit the program and charge market rentals. Thus public funds are used to underwrite a privately owned, quasi-social housing sector -- whose social character is only temporary. No permanent social housing is produced despite the extensive public outlay. The companion use of tax incentives to attract passive investment in affordable housing promotes economically inefficient tax shelters, and shunts public funds into the pockets of the investors -- money that might otherwise have gone directly to the housing.

The Affordable Care Act is a form of voucher. But the regulated private insurance markets in the ACA have not fully lived up to their promise, in part because of the extensive market power retained by private insurers and in part because the right has relentlessly sought to sabotage the program -- another political feedback loop. The sponsors assumed that competition would lower costs and increase consumer choice. But in too many counties, there are three or fewer competing plans, and in some cases just one.

As more insurance plans and hospital systems become for-profit, massive investment goes into such wasteful activities as manipulation of billing, "risk selection," and other gaming of the rules. Our mixed-market system of health care requires massive regulation to work with tolerable efficiency. In practice, this degenerates into an infinite regress of regulator versus commercial profit-maximizer, reminiscent of Mad magazine's "Spy versus Spy," with the industry doing end runs to Congress to further rig the rules. Straight-ahead public insurance such as Medicare is generally far more efficient.

An extensive literature has demonstrated that for-profit voucher schools do no better and often do worse than comparable public schools, and are vulnerable to multiple forms of gaming and corruption. Proprietors of voucher schools are superb at finding ways of excluding costly special-needs students, so that those costs are imposed on what remains of public schools; they excel at gaming test results. While some voucher and charter schools, especially nonprofit ones, sometimes improve on average school performance, so do many public schools. The record is also muddied by the fact that many ostensibly nonprofit schools contract out management to for-profit companies.

Tax preferences have long been used ostensibly to serve social goals. The Earned Income Tax Credit is considered one of the more successful cases of using market-like measures -- in this case a refundable tax credit -- to achieve the social goal of increasing worker take-home pay. It has also been touted as the rare case of bipartisan collaboration. Liberals get more money for workers. Conservatives get to reward the deserving poor, since the EITC is conditioned on employment. Conservatives get a further ideological win, since the EITC is effectively a wage subsidy from the government, but is experienced as a tax refund rather than a benefit of government.

Recent research, however, shows that the EITC is primarily a subsidy of low-wage employers, who are able to pay their workers a lot less than a market-clearing wage. In industries such as nursing homes or warehouses, where many workers qualified for the EITC work side by side with ones not eligible, the non-EITC workers get substandard wages. The existence of the EITC depresses the level of the wages that have to come out of the employer's pocket.

Neoliberalism's Influence on Liberals

As free-market theory resurged, many moderate liberals embraced these policies. In the inflationary 1970s, regulation became a scapegoat that supposedly deterred salutary price competition. Some, such as economist Alfred Kahn, President Carter's adviser on deregulation, supported deregulation on what he saw as the merits. Other moderates supported neoliberal policies opportunistically, to curry favor with powerful industries and donors. Market-like policies were also embraced by liberals as a tactical way to find common ground with conservatives.

Several forms of deregulation -- of airlines, trucking, and electric power -- began not under Reagan but under Carter. Financial deregulation took off under Bill Clinton. Democratic presidents, as much as Republicans, promoted trade deals that undermined social standards. Cost-benefit analysis by the Office of Information and Regulatory Affairs (OIRA) was more of a choke point under Barack Obama than under George W. Bush.

"Command and control" became an all-purpose pejorative for disparaging perfectly sensible and efficient regulation. "Market-like" became a fashionable concept, not just on the free-market right but on the moderate left. Cass Sunstein, who served as Obama's anti-regulation czar,uses the example of "nudges" as a more market-like and hence superior alternative to direct regulation, though with rare exceptions their impact is trivial. Moreover, nudges only work in tandem with regulation.

There are indeed some interventionist policies that use market incentives to serve social goals. But contrary to free-market theory, the market-like incentives first require substantial regulation and are not a substitute for it. A good example is the Clean Air Act Amendments of 1990, which used tradable emission rights to cut the output of sulfur dioxide, the cause of acid rain. This was supported by both the George H.W. Bush administration and by leading Democrats. But before the trading regime could work, Congress first had to establish permissible ceilings on sulfur dioxide output -- pure command and control.

There are many other instances, such as nutrition labeling, truth-in-lending, and disclosure of EPA gas mileage results, where the market-like premise of a better-informed consumer complements command regulation but is no substitute for it. Nearly all of the increase in fuel efficiency, for example, is the result of command regulations that require auto fleets to hit a gas mileage target. The fact that EPA gas mileage figures are prominently disclosed on new car stickers may have modest influence, but motor fuels are so underpriced that car companies have success selling gas-guzzlers despite the consumer labeling.

Politically, whatever rationale there was for liberals to make common ground with libertarians is now largely gone. The authors of the 2017 Tax Cuts and Jobs Act made no attempt to meet Democrats partway; they excluded the opposition from the legislative process entirely. This was opportunistic tax cutting for elites, pure and simple. The right today also abandoned the quest for a middle ground on environmental policy, on anti-poverty policy, on health policy -- on virtually everything. Neoliberal ideology did its historic job of weakening intellectual and popular support for the proposition that affirmative government can better the lives of citizens and that the Democratic Party is a reliable steward of that social compact. Since Reagan, the right's embrace of the free market has evolved from partly principled idealism into pure opportunism and obstruction.

Neoliberalism and Hyper-Globalism

The post-1990 rules of globalization, supported by conservatives and moderate liberals alike, are the quintessence of neoliberalism. At Bretton Woods in 1944, the use of fixed exchange rates and controls on speculative private capital, plus the creation of the IMFand World Bank, were intended to allow member countries to practice national forms of managed capitalism, insulated from the destructive and deflationary influences of short-term speculative private capital flows. As doctrine and power shifted in the 1970s, the IMF, the World Bank, and later the WTO, which replaced the old GATT, mutated into their ideological opposite. Rather than instruments of support for mixed national economies, they became enforcers of neoliberal policies.

The standard package of the "Washington Consensus" of approved policies for developing nations included demands that they open their capital markets to speculative private finance, as well as cutting taxes on capital, weakening social transfers, and gutting labor regulation and public ownership. But private capital investment in poor countries proved to be fickle. The result was often excessive inflows during the boom part of the cycle and punitive withdrawals during the bust -- the opposite of the patient, long-term development capital that these countries needed and that was provided by the World Bank of an earlier era. During the bust phase, the IMFtypically imposes even more stringent neoliberal demands as the price of financial bailouts, including perverse budgetary austerity, supposedly to restore the confidence of the very speculative capital markets responsible for the boom-bust cycle.

Dozens of nations, from Latin America to East Asia, went through this cycle of boom, bust, and then IMF pile-on. Greece is still suffering the impact. After 1990, hyper-globalism also included trade treaties whose terms favored multinational corporations. Traditionally, trade agreements had been mainly about reciprocal reductions of tariffs. Nations were free to have whatever brand of regulation, public investment, or social policies they chose. With the advent of the WTO, many policies other than tariffs were branded as trade distorting, even as takings without compensation. Trade deals were used to give foreign capital free access and to dismantle national regulation and public ownership. Special courts were created in which foreign corporations and investors could do end runs around national authorities to challenge regulation for impeding commerce.

At first, the sponsors of the new trade regime tried to claim the successful economies of East Asia as evidence of the success of the neoliberal recipe. Supposedly, these nations had succeeded by pursuing "export-led growth," exposing their domestic economies to salutary competition. But these claims were soon exposed as the opposite of what had actually occurred. In fact, Japan, South Korea, smaller Asian nations, and above all China had thrived by rejecting every major tenet of neoliberalism. Their capital markets were tightly regulated and insulated from foreign speculative capital. They developed world-class industries as state-led cartels that favored domestic production and supply. East Asia got into trouble only when it followed IMFdictates to throw open capital markets, and in the aftermath they recovered by closing those markets and assembling war chests of hard currency so that they'd never again have to go begging to the IMF. Enthusiasts of hyper-globalization also claimed that it benefited poor countries by increasing export opportunities, but as the success of East Asia shows, there is more than one way to boost exports -- and many poorer countries suffered under the terms of the global neoliberal regime.

Nor was the damage confined to the developing world. As the work of Harvard economist Dani Rodrik has demonstrated, democracy requires a polity. For better or for worse, the polity and democratic citizenship are national. By enhancing the global market at the expense of the democratic state, the current brand of hyper-globalization deliberately weakens the capacity of states to regulate markets, and weakens democracy itself.

When Do Markets Work?

The failure of neoliberalism as economic and social policy does not mean that markets never work. A command economy is even more utopian and perverse than a neoliberal one. The practical quest is for an efficient and equitable middle ground.

The neoliberal story of how the economy operates assumes a largely frictionless marketplace, where prices are set by supply and demand, and the price mechanism allocates resources to their optimal use in the economy as a whole. For this discipline to work as advertised, however, there can be no market power, competition must be plentiful, sellers and buyers must have roughly equal information, and there can be no significant externalities. Much of the 20th century was practical proof that these conditions did not describe a good part of the actual economy. And if markets priced things wrong, the market system did not aggregate to an efficient equilibrium, and depressions could become self-deepening. As Keynes demonstrated, only a massive jolt of government spending could restart the engines, even if market pricing was partly violated in the process.

Nonetheless, in many sectors of the economy, the process of buying and selling is close enough to the textbook conditions of perfect competition that the price system works tolerably well. Supermarkets, for instance, deliver roughly accurate prices because of the consumer's freedom and knowledge to shop around. Likewise much of retailing. However, when we get into major realms of the economy with positive or negative externalities, such as education and health, markets are not sufficient. And in other major realms, such as pharmaceuticals, where corporations use their political power to rig the terms of patents, the market doesn't produce a cure.

The basic argument of neoliberalism can fit on a bumper sticker. Markets work; governments don't . If you want to embellish that story, there are two corollaries: Markets embody human freedom. And with markets, people basically get what they deserve; to alter market outcomes is to spoil the poor and punish the productive. That conclusion logically flows from the premise that markets are efficient. Milton Friedman became rich, famous, and influential by teasing out the several implications of these simple premises.

It is much harder to articulate the case for a mixed economy than the case for free markets, precisely because the mixed economy is mixed. The rebuttal takes several paragraphs. The more complex story holds that markets are substantially efficient in some realms but far from efficient in others, because of positive and negative externalities, the tendency of financial markets to create cycles of boom and bust, the intersection of self-interest and corruption, the asymmetry of information between company and consumer, the asymmetry of power between corporation and employee, the power of the powerful to rig the rules, and the fact that there are realms of human life (the right to vote, human liberty, security of one's person) that should not be marketized.

And if markets are not perfectly efficient, then distributive questions are partly political choices. Some societies pay pre-K teachers the minimum wage as glorified babysitters. Others educate and compensate them as professionals. There is no "correct" market-derived wage, because pre-kindergarten is a social good and the issue of how to train and compensate teachers is a social choice, not a market choice. The same is true of the other human services, including medicine. Nor is there a theoretically correct set of rules for patents, trademarks, and copyrights. These are politically derived, either balancing the interests of innovation with those of diffusion -- or being politically captured by incumbent industries.

Governments can in principle improve on market outcomes via regulation, but that fact is complicated by the risk of regulatory capture. So another issue that arises is market failure versus polity failure, which brings us back to the urgency of strong democracy and effective government.

After Neoliberalism

The political reversal of neoliberalism can only come through practical politics and policies that demonstrate how government often can serve citizens more equitably and efficiently than markets. Revision of theory will take care of itself. There is no shortage of dissenting theorists and empirical policy researchers whose scholarly work has been vindicated by events. What they need is not more theory but more influence, both in the academy and in the corridors of power. They are available to advise a new progressive administration, if that administration can get elected and if it refrains from hiring neoliberal advisers.

There are also some relatively new areas that invite policy innovation. These include regulation of privacy rights versus entrepreneurial liberties in the digital realm; how to think of the internet as a common carrier; how to update competition and antitrust policy as platform monopolies exert new forms of market power; how to modernize labor-market policy in the era of the gig economy; and the role of deeper income supplements as machines replace human workers.

The failed neoliberal experiment also makes the case not just for better-regulated capitalism but for direct public alternatives as well. Banking, done properly, especially the provision of mortgage finance, is close to a public utility. Much of it could be public. A great deal of research is done more honestly and more cost-effectively in public, peer-reviewed institutions such as the NIHthan by a substantially corrupt private pharmaceutical industry. Social housing often is more cost-effective than so-called public-private partnerships. Public power is more efficient to generate, less prone to monopolistic price-gouging, and friendlier to the needed green transition than private power. The public option in health care is far more efficient than the current crazy quilt in which each layer of complexity adds opacity and cost. Public provision does require public oversight, but that is more straightforward and transparent than the byzantine dance of regulation and counter-regulation.

The two other benefits of direct public provision are that the public gets direct evidence of government delivering something of value, and that the countervailing power of democracy to harness markets is enhanced. A mixed economy depends above all on a strong democracy -- one even stronger than the democracy that succumbed to the corrupting influence of economic elites and their neoliberal intellectual allies beginning half a century ago. The antidote to the resurrected neoliberal fable is the resurrection of democracy -- strong enough to tame the market in a way that tames it for keeps.

Arthur Littwin , August 4, 2019 at 7:36 am

Excellent article and very much appreciated so I can share with confused Liberal friends (mostly older) who think that they are now, somehow, Neoliberal. As far as market failure is concerned: I think Boeing is an incredible case in point. When one of the nation's flagship enterprises captures regulatory processes so completely that it produces a product that cannot accomplish its one aim: to fly. Btw: I am seeing a lot of use of the "populist" to describe what might be more correctly described as nativist, xenophobic, anti-democratic, authoritarian, or even outright fascist leaders. Keep the language clear and insist on precise definitions.

Ian Perkins , August 4, 2019 at 10:16 am

Excellent article, I agree. As regards clear language and definitions, I much prefer Michael Hudson's insistence that, to the liberal economists, free markets were markets free from rent seeking, while to the neoliberals free markets are free from government regulation.

"As governments were democratized, especially in the United States, liberals came to endorse a policy of active public welfare spending and hence government intervention, especially on behalf of the poor and disadvantaged. neoliberalism sought to restore the centralized aristocratic and oligarchic rentier control of domestic politics."

http://michael-hudson.com/2014/01/l-is-for-land/ – "Liberal"

bwilli123 , August 4, 2019 at 7:44 am

"The economic collapse of 2008 was the result of the deregulation of finance. It cost the real U.S. economy upwards of $15 trillion (and vastly more globally), depending on how you count, far more than any conceivable efficiency gain that might be credited to financial innovation ."
That High Priest of neo-Liberalism Alan Greenspan once said, "The only thing useful banks have invented in 20 years is the ATM "

vern lyon , August 4, 2019 at 8:33 am

Sorry, the ATM quote was Paul Volker not Greenspan.

paul , August 4, 2019 at 8:23 am

In my worthless opinion: The private sector is great for what you do not need

The public sector(direction not implementation) is the only way to provide what we all need. 2.5 up maslow's pyramid would suit many.

If you are short of links tomorrow: Craig Murray would be worth a look

Divadab , August 4, 2019 at 8:23 am

Hard to see how the federal government can be gotten back from the cartels at this point- the whole thing is so corrupt. And the "socialism is bad" mantra has captured a lot of easily led brains.

In a political system where the reputedly "labor" party would rather lose with their bribe-taking warmongering Goldwater girl than win with a people's advocate, Houston we have a problem.

As with anthropogenic climate change, the cause is systemic- the political system is based on money control and the economic system is based on unsustainable energy use. Absent a crash, crisis, systematic chaos and destruction I don't see much changing other than at the margins- the corruption is too entrenched.

Watt4Bob , August 4, 2019 at 9:28 am

We were warned about the situation you describe.

The following is a portion of an op-ed piece that appeared in the New York Times On April 4, 1944 . It was written by Henry Wallace, FDR's vice president;

If we define an American fascist as one who in case of conflict puts money and power ahead of human beings, then there are undoubtedly several million fascists in the United States. There are probably several hundred thousand if we narrow the definition to include only those who in their search for money and power are ruthless and deceitful. Most American fascists are enthusiastically supporting the war effort. They are doing this even in those cases where they hope to have profitable connections with German chemical firms after the war ends. They are patriotic in time of war because it is to their interest to be so, but in time of peace they follow power and the dollar wherever they may lead.

American fascism will not be really dangerous until there is a purposeful coalition among the cartelists, the deliberate poisoners of public information, and those who stand for the K.K.K. type of demagoguery.

The European brand of fascism will probably present its most serious postwar threat to us via Latin America. The effect of the war has been to raise the cost of living in most Latin American countries much faster than the wages of labor. The fascists in most Latin American countries tell the people that the reason their wages will not buy as much in the way of goods is because of Yankee imperialism. The fascists in Latin America learn to speak and act like natives. Our chemical and other manufacturing concerns are all too often ready to let the Germans have Latin American markets, provided the American companies can work out an arrangement which will enable them to charge high prices to the consumer inside the United States. Following this war, technology will have reached such a point that it will be possible for Germans, using South America as a base, to cause us much more difficulty in World War III than they did in World War II. The military and landowning cliques in many South American countries will find it attractive financially to work with German fascist concerns as well as expedient from the standpoint of temporary power politics.

Fascism is a worldwide disease. Its greatest threat to the United States will come after the war, either via Latin America or within the United States itself.

The full text is quite useful in understanding that there is no question as to how and why we find ourselves in the present predicament, it is the logical outcome of a process that was well understood during FDR's tenure.

That understanding has since been deliberately eradicated by the powerful interests that control our media.

John Zelnicker , August 4, 2019 at 12:04 pm

@Watt4Bob
August 4, 2019 at 9:28 am
-- -- -

Thank you for posting this excerpt.

Very enlightening.

There was a lot of wisdom put forth during and shortly after WWII in both politics (see above) and economics.

For example, there was a Treasury official, whose name I can't remember right now, who understood that the Federal government has no real need to collect taxes. And, Keynesianism prevailed until Milton Friedman and the Chicago School came along and turned everything upside down with Monetarism.

mle in detroit , August 4, 2019 at 12:54 pm

Wow, does Wallace's second paragraph describe today or what?

Ian Perkins , August 4, 2019 at 2:52 pm

My thoughts exactly.

Amfortas the hippie , August 4, 2019 at 10:00 am

"absent a crash " I reckon "unsustainable" is an important word to remember. None of it is sustainable all those spinning plates and balls in the air .and the grasshopper god demands that they keep adding more and more plates and balls.

All based on a bunch of purposefully unexamined assumptions.

... ... ...

Ian Perkins , August 4, 2019 at 10:34 am

Or Edward Abbey: "Growth for the sake of growth is the ideology of the cancer cell."

I did an A-level (UK exam for 18 year olds) in economics years ago, and despite passing with an A, I not only couldn't understand this underlying assumption of continued exponential growth forever, I also couldn't understand why anyone couldn't understand its obvious absurdity.
Sustainability was a bit of a new word in those days, but when I discovered it, it summed up my problems with (over-) developed economies.

Carolinian , August 4, 2019 at 9:32 am

To add to the confusion, a different and partly overlapping usage was advanced in the 1970s by the group around the Washington Monthly magazine. They used "neoliberal" to mean a new, less statist form of American liberalism. Around the same time, the term neoconservative was used as a self-description by former liberals who embraced conservatism, on cultural, racial, economic, and foreign-policy grounds. Neoconservatives were neoliberals in economics.

This commenter has been scolded in the past for invoking Charlie Peters and the Washington Monthly rather than Friedman, Hayek etc. But what Peters' highly influential magazine (and the transformed New Republic that followed) did was to bring the Democrats into the neoliberal fold and that may be the real reason it's a beast that can't be killed.

Neoliberalism gave liberals an excuse to sell out in the name of "fresh thinking." Meanwhile the vast working class had become discredited Archie Bunkers in the eyes of the intellectuals after Vietnam and the Civil Rights struggles.

It's possible that what really changed the country was the rise of that middle class that Kuttner now mourns. Suggesting that it was all the result of a rightwing plan is too easy although that was certainly part of it.

David , August 4, 2019 at 10:06 am

I'd add two other consequences of neoliberalism. One is the increasing alienation of citizens from the mechanism for provision of the basic necessities of life. Before the 1980s, for example, water, gas, electricity etc. were provided by publicly-owned utilities with local offices, recognisable local and national structures, and responsible to an elected Minister.

If you had a serious problem, then in the final analysis you could write a letter to your MP, who would take it up with the Minister. Now, you are no longer a citizen but a consumer, and your utilities are provided by some weird private sector thing, owned by another company, owned by some third company, frequently based abroad, and with its customer services outsourced to yet another company which could be anywhere in the world all. All this involves significant transaction costs for individuals, who are expected to conduct sophisticated cost-effectiveness comparisons between providers, when in fact they just want to turn on the tap and have water come out.

The other is that government (and hence the citizen) loses any capacity for strategic planning. Most nationalized industries in Britain were either created because the private sector wasn't interested, or picked up when the private sector went bankrupt (the railways for example). But without ownership, the capacity to decide what you want and get it is much reduced. You can see that with the example of the Minitel – a proto-internet system given away free by the French government through the state-owned France Telecom in the early 1980s, and years ahead of anything else. You literally couldn't do anything similar now.

John Merryman. , August 4, 2019 at 10:35 am

Taking Michael Hudson's work into account, there is a much deeper and older dynamic at work, of which neoliberalism is just the latest itineration.
A possible explanation goes to the nature of money.

As the accounting device that enables mass societies to function, it amounts to a contract between the individual and the community, with one side an asset and the other a debt. Yet as we experience it as quantified hope, we try to save and store it. Consequently, in order to store the asset, similar amounts of debt have to be created.

Which results in a centripedial effect, as positive feedback draws the asset side to the center of the social construct, while negative feedback pushes the debt to the edges. It could be argued this dynamic is the basis of economic hierarchy, not just a consequence.

Yet money and finance function as the economic blood and arteries, circulating value around the entire community, so the effect of this dynamic is like the heart telling the hands and feet they don't need so much blood and should work harder for what they do get.

Basically we have to accept that while money is an effective medium of exchange, it is not a productive store of value. We wouldn't confuse blood with fat, or roads with parking lots, so it should be possible to learn to store value in tangibles, like the strong communities and healthy environments that will give us the safety and security we presumably save money for.

As a medium, we own money like we own the section of road we are using, or the fluids passing through our bodies. Let the neoliberals chew on that.

tegnost , August 4, 2019 at 11:39 am

Yet money and finance function as the economic blood and arteries, circulating value around the entire community, so the effect of this dynamic is like the heart telling the hands and feet they don't need so much blood and should work harder for what they do get.

nice image of a not so nice dynamic

John Merryman. , August 4, 2019 at 12:34 pm

Thanks. Political persuasion is about keeping it simple. How about; Government was once private. It was called monarchy. Do we want to go back there, or do we need to better understand the balance between public and private? Even houses have spaces that are public and spaces that are private.

pjay , August 4, 2019 at 10:44 am

This is, indeed, an excellent historical overview, evoking some of Kuttner's best writing over the decades. I would recommend it with no hesitation.

On the other hand, Kuttner's American Prospect has also provided cover for some damaging faux-progressive enablers of neoliberalism over those decades (IMHO). A puzzlement.

P S BAKER , August 4, 2019 at 10:45 am

An excellent exegesis – this is going to be my go-to summary from now on. Many thanks.

Sal , August 4, 2019 at 11:20 am

I must remind everyone that Bob Kuttner is no longer what he used to be. Bob Kuttner was against progressive Dem candidates like Bernie in 2016, and was in bed with THE neoliberal candidate ..With the passage of time, Kuttner has evolved into a partisan for the sake of partisanship, instead of being principled.

tegnost , August 4, 2019 at 12:15 pm

after reading your comment I went through the post again and found these suspicious points

"The failure of neoliberalism as economic and social policy does not mean that markets never work. A command economy is even more utopian and perverse than a neoliberal one. The practical quest is for an efficient and equitable middle ground. "

so, get in front of the riot and call it a parade? Maybe a little bit. Also

"Nonetheless, in many sectors of the economy, the process of buying and selling is close enough to the textbook conditions of perfect competition that the price system works tolerably well. Supermarkets, for instance, deliver roughly accurate prices because of the consumer's freedom and knowledge to shop around. Likewise much of retailing . However, when we get into major realms of the economy with positive or negative externalities, such as education and health, markets are not sufficient. And in other major realms, such as pharmaceuticals, where corporations use their political power to rig the terms of patents, the market doesn't produce a cure."

Probably not working so well for the employees or the farm workers who get food on the shelf
I guess maybe not practical to change that dynamic? That said, as history the post is as good as anything else I've seen, and reads well, but maybe does need a grain of salt to make it more palatable.

Camelotkidd , August 4, 2019 at 11:35 am

"Neoliberalism's premise is that free markets can regulate themselves; that government is inherently incompetent, captive to special interests, and an intrusion on the efficiency of the market; that in distributive terms, market outcomes are basically deserved; and that redistribution creates perverse incentives by punishing the economy's winners and rewarding its losers. So government should get out of the market's way."

In an otherwise good article the author makes a fundamental error. As Phillip Mirowski patiently explains in Never Let a Serious Crisis Go to Waste, neoliberalism is not laissez faire. Neoliberal desire a strong government to implement their market based nirvana, as long as they control government.

Hayek's Heelbiter , August 4, 2019 at 11:43 am

The best summation on the failure of neoliberalism I've ever read. Will share widely Still nipping. Maybe one day I'll be able to take a real bite!

shinola , August 4, 2019 at 1:51 pm

"[ .] was used to justify political conservatism, imperialism, and racism and to discourage intervention and reform."

That missing first word could easily be neoliberalism; however, that sentence was actually pulled from a definition of Social Darwinism.

[Aug 03, 2019] Perhaps when the PLA finish in hongkong they can come over here and deal with antifa since our government at any level does not appear to have the sense or spine to do it themselves

Aug 03, 2019 | turcopolier.typepad.com

ted richard , 03 August 2019 at 01:22 PM

Hongkong is no longer of great importance for bejing as a financial and trading locus. up and down the south china sea coast are many cities of far greater importance than Hongkong.

perhaps when the PLA finish in hongkong they can come over here and deal with antifa since our government at any level does not appear to have the sense or spine to do it themselves

[Aug 03, 2019] Hell's Top Banker Explains How To Destroy The Global Economy

Some of the other stuff we've encouraged, such as The EU, ETFs, Hi-Frequency Trading, Neil Woodford and Deutsche Bank look likely to be highly effective vectors of short-term economic destruction and destabilization
Aug 03, 2019 | www.zerohedge.com

(Edited version of the speech given by the TJ Wormwood, Chief Demonic Officer – Finance, Lord of 3rd Ring of the 7th Circle, to invited audience at Davos.)

Dear Colleagues,

As you all know, I've been wrecking finance for millennia. [Pause for effect]

Nearly every major big idea, evolutionary leap forward, invention and discovery has improved the miserable lot of mankind only through their ability to monetise it. Forget the theft of fire – being able to monetise fire by attracting pretty and willing mates around a warm campfire, or cooking the food others have hunted, is what mattered. Strip out the noise, and the rise of mankind is largely due to improvements in the efficiency and ease of means of exchange.

From the realisation hunters could barter their furs for other goods, to the rise of complex products to finance global growth – the innovation of financial markets has been a major driver of success for the Other Side in raising the wellbeing and prosperity of mankind. Pretty much anything that holds back or disrupts trade, increases costs and holds back services is naturally positive for our goal of global destabilisation.

So, here is the big plan:

Since 2007 we've been turning the Other Side's successful innovation of financial markets against them. Global Financial Markets are incredibly rich in opportunities to distort truth, hide lies, and undermine mankind – generating immediate greed, envy, suspicion and anger. We've uncovered previously unimaginable ways in which to financially screw the World with consequences that impact everyone.

We've overlaid the programme with our mastery and understanding of temptation, human greed, avarice and pride, while adding subtlety and cunning. We merely suggest and advise. We are facilitating the train-wreck of the global economy by destroying asset values while confounding their understanding of money and wealth – the pillars of their society.

At its simplest form we are manipulating and driving constant market instability to keep mankind distracted. Uncertainty clouds their future expectations – so we keep it raining. A Mortgage crisis one year, followed by a Sovereign Debt crisis the next, spiced with a couple of bank failures, and threats of global trade war. Overlay with confusion and distraction such as social media, fake news, Bitcoin and populism, and it all works rather well.

Keep their leaders arguing. Keep the blame game going.

Our success can be seen in current financial asset prices. These are now hopelessly inflated and distorted by foolish post financial crisis policy decisions. They are bubbles set to pop. Empower the regulators and bureaucrats to compromise finance through zealous over-regulation, making banking safer by destroying it. Usher in a new era of trade protectionism, the end of Free Trade and increase the suspicion some countries are manipulating their currencies for economic advantage. Sprinkle some dust of political catastrophe, the collapse of law, undo the fair, just and caring society, while adding some eye of newt and complex environmental threats. Make the rich so rich they don't notice, and the poor so poor they become invisible. If the markets remain uncertain, then it distracts mankind from addressing these issues, making society less stable!

There as some things we're really proud of, including the Euro, Social Media, Investment Banks, the Tech Boom, and especially Quantitative Easing (which is still delivering confusion and pain). New Monetary Theory could prove even better – it shows tremendous potential to thoroughly unsettle confidence in money. Cybercurrencies are particularly fun – despite coming up with the idea, neither we, nor even the distinguished members of our panel of eternal guests, understand the why of them. They are libertarian nonsense – so, naturally we continue to encourage them as get-rich-quick schemes, but they also further undermine confidence in money and government. We made something up in a bar one night and called it a Distributed Ledger - the humans ran with it and invented Blockchain, whatever that might be..

Some of the other stuff we've encouraged, such as The EU, ETFs, Hi-Frequency Trading, Neil Woodford and Deutsche Bank look likely to be highly effective vectors of short-term economic destruction and destabilisation, triggering systemic market events and regulatory backlashes across markets. We are only now exploring the full potential of market illiquidity to rob billions of pensioners of their savings.

We've persuaded investors to overturn proven tried and tested investment strategies and wisdoms, nurturing a whole range of overpriced unprofitable US Tech "Unicorn" companies which we are confident will prove utterly over-hyped and largely worthless. The success of social media, data mining and new tech has increased levels of dissatisfaction and envy – especially in our target younger demography.

The way we successfully pinned the blame on banks for the Global Financial Crisis – despite the fact it was people who wanted mortgages to buy houses and fast cars - ensured global regulators would over-react. We've allowed regulators to focus on banks while we target the next financial crisis in other parts of the financial ecosystem.

Regulators forced the banks to de-risk. But risk does not disappear - it just goes somewhere else. While banks understood risk and had massive staffs to manage risk, risk is now concentrated in the hands of "investment managers" who are singularly ill-equipped to withstand the next credit crunch and global recession, (which we've planned for next October – Save the Date cards have been sent).

We are particularly pleased that many banks now exceed the 2.3 compliance officers for every profitable banker ratio. Compliance and regulatory costs now exceed 10% of income at some European banks – a stunning success and substantially decreasing the efficiency of banking and exchanges.

We've some great new financial ideas we are still experimenting with, some of which show great promise for further weakening society. Facebook Money is going to be a cracker, and I particularly like the Spaceship to Mars project if only they knew what awaits them

By hiding inflation in the stock market, we assisted the accumulation of massive wealth by a tiny percentage of the population to ferment income inequality dissatisfaction. When capital is concentrated and the workers under the cosh, it creates all the right conditions for weak disjointed government to aid and abet the rise of destabilising populism.

It's highly satisfying to watch the instability we've created in financial markets drive fear and distrust across society. The debt crisis we engineered led to global financial austerity, job insecurity, and rising inequality. We were surprised how easily we pushed the Gig economy concept to further exploit and cow workers through regulators and authorities – they barely noticed. Over this we've layered whole new levels of anxiety such as the unknowns of data theft, the rise in envy coefficients through social media, fake news while fuelling social distrust through resentment.

We've managed to persuade Governments to follow damaging and contradictory policies. As society reeled in the wake of the financial crisis, we persuaded policy makers to cut back spending through "austerity" spending programmes, simultaneously bailing out bankers while flooding the financial economy with free money through Quantitative Easing.

Effectively we've split the world into two economies. A real economy which is sad, miserable and deflating, and a financial economy that's insanely optimistic, massively inflated and ripe to pop on the back of free money.

The resentment, instability, fear and general sense of decay has paid dividends in our drive to break society by undermining the credibility of the political classes. Our approach to politics has been simple – deskill the political classes, reduce their effectiveness as leaders, while engineering economic, social and financial instability to drive rampaging populist politics – just like in 1932! Populism may ultimately prove short-lived, but it's difficult to see how the political classes will recover their power in time to reverse the damages being done to the global environment.

While markets have burned, society become increasingly riven, and politics has failed, we've distracted the humans from the rising levels of carbon dioxide in the atmosphere which threatens to create global warming and rising sea levels, while plastics poison the oceans and soil erosion threatens agriculture.

Now I love the ravenous hunger and sharp pointy teeth of polar bears as much as the next demon, but needs must... needs must. I was also rather fond of the dinosaurs...

Our approach to ensuring destructive climate change has proved very effective. We've supported, financed and advised the loudest green lobbies to ensure their message looks ill-considered, wrong and economic suicide. We also paid big bucks to fund the loudest climate change deniers. Our innovation of fake news to discredit and mitigate anything positive means climate change remains a crank topic – even as our polar bears drown.

Meanwhile, through our dominance of global boardrooms and investment firms, we've made sure that large corporates have bought-out and stifled new technologies that could solve the environmental crisis.

Our future looks great – because their future is bleak!

Thank you for your kind attention.

TJ Wormwood,

Demonic Chief Office – Finance

[Jul 25, 2019] The destiny of the USA is now tied to the destiny of neoliberalism (much like the USSR and Bolshevism)

Highly recommended!
Notable quotes:
"... The USA hegemony is based on ideological hegemony of neoliberalism. And BTW both Russia and China are neoliberal countries. That's probably why President Putin calls the USA administration "partners," despite clearly anti-Russian policies of all US administrations since 1991. ..."
"... One fascinating fact that escapes my understanding is why the USA elite wasted colossal advantage it got after the collapse of the USSR in just 25 years or so. I always thought that the USA elite is the most shrewd out of all countries. ..."
"... May be because they were brainwashed by neocon "intellectuals." I understand that most neocons are simply lobbyists of MIC, and MIC has huge political influence, but still neocon doctrine is so primitive that no civilized elite can take it seriously. ..."
"... I also understand Eisenhower hypocritical laments that "train with MIC left the station" and that the situation can't be reversed (lament disguised as a "warning"; let's remember that it was Eisenhower who appointed Allen Dulles to head the CIA. ..."
Dec 25, 2018 | www.unz.com

likbez , says: December 25, 2018 at 8:02 am GMT

@guitarzan

>US hegemony is imposed militarily, both covertly and overtly, throughout the world. It is maintained through the petrodollar, corporate power, and the Federal Reserve Bank and its overseas counterparts

All true, but the key element is missing. The USA hegemony is based on ideological hegemony of neoliberalism. And BTW both Russia and China are neoliberal countries. That's probably why President Putin calls the USA administration "partners," despite clearly anti-Russian policies of all US administrations since 1991.

Ability to use military is important but secondary. Without fifth column of national elites which support neoliberalism that would be impossible, or at least more difficult to use. Like it was when the USSR existed (Vietnam, Cuba, etc). The USSR has had pretty powerful military, which was in some narrow areas competitive, or even superior to the USA, but when the ideology of Bolshevism collapsed, the elite changed sides and adopted a neoliberal ideology. This betrayal led to the collapse of the USSR and all its mighty military and the vast KGB apparatus proved to be useless.

In this sense, the article is weak, and some comments are of a higher level than the article itself in the level of understanding of the situation (Simon in London at December 21, 2018, at 9:23 am one example; longevity of neoliberalism partially is connected to the fact that so far there is no clear alternative to it and without the crisis similar to Great Depression adoption of New Deal style measures is impossible )

It is really sad that the understanding that the destiny of the USA is now tied to the destiny of neoliberalism (much like the USSR and Bolshevism) is foreign for many.

So it might well be that the main danger for the US neoliberal empire now is not China or Russia, but the end of cheap oil, which might facilitate the collapse of neoliberalism as a social system based on wasteful use on commodities (and first of all oil)

One fascinating fact that escapes my understanding is why the USA elite wasted colossal advantage it got after the collapse of the USSR in just 25 years or so. I always thought that the USA elite is the most shrewd out of all countries.

May be because they were brainwashed by neocon "intellectuals." I understand that most neocons are simply lobbyists of MIC, and MIC has huge political influence, but still neocon doctrine is so primitive that no civilized elite can take it seriously.

I also understand Eisenhower hypocritical laments that "train with MIC left the station" and that the situation can't be reversed (lament disguised as a "warning"; let's remember that it was Eisenhower who appointed Allen Dulles to head the CIA.

[Jul 22, 2019] When the music stops, in terms of liquidity, things will be complicated

Jul 22, 2019 | jessescrossroadscafe.blogspot.com

"When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing,"

Chuck Prince, CEO Citigroup, July 9, 2007

[Jul 22, 2019] A baited banker

Jul 22, 2019 | jessescrossroadscafe.blogspot.com

"A baited banker thus desponds,
From his own hand foresees his fall,
They have his soul, who have his bonds;
'Tis like the writing on the wall.

How will the caitiff wretch be scared,
When first he finds himself awake
At the last trumpet, unprepared,
And all his grand account to make!

For in that universal call,
Few bankers will to heaven be mounters;
They'll cry, 'Ye shops, upon us fall!
Conceal and cover us, ye counters!'

When other hands the scales shall hold,
And they, in men's and angels' sight
Produced with all their bills and gold,
'Weigh'd in the balance and found light!'

Jonathan Swift, A Run Upon the Bankers

[Jul 17, 2019] A major problem with US neoliberalism: unbelievably shallow people run for the highest office in the US

Degeneration of the USA elite really is getting speed.
Notable quotes:
"... I've been watching in complete dismay for more than two decades now how many unbelievably empty people run for the highest office in the US. These people are empty. No substance, no soul, no brain or heart. Nothing. ..."
Jul 17, 2019 | www.theamericanconservative.com
Hrant , 3 days ago

I've been watching in complete dismay for more than two decades now how many unbelievably empty people run for the highest office in the US. These people are empty. No substance, no soul, no brain or heart. Nothing.

[Jul 05, 2019] The UK public finally realized that the Globalist/Open Frontiers/ Neoliberal crowd are not their friends

Highly recommended!
Notable quotes:
"... The key point, is that this happened in the 1980's – 90's. Vast profit possibilities were opening up through digitalization, corporate outsourcing, globalization and the internet. The globalists urgently wanted that money, and had to have political compliance. They found it in Neoliberalism and hijacked both the Conservative Party and the Labour Party, creating "New Labour" (leader Tony Blair) through classless "modernization" following Margaret Thatcher's lead. ..."
"... Great blast by Jonathan Cook – I feel as if he has read my thoughts about the political system keeping the proles in an Orwellian state of serfdom for plunder and abuse under the guise of “democracy” and “freedom”. ..."
"... But the ideas of the Chicago School in cohorts with the Frankfurters and Tavistockers were already undermining our hopeful vision of the world while the think tanks at the foundations, councils and institutes were flooding the academies with the doctrines of hardhead uncompromising Capitalism to suck the blood off the proles into anaemic immiseration and apathetic insouciance. ..."
"... With the working class defeated and gone, where is the spirit of resistance to spring from? Not from the selfishness of the new generation of smartphone addicts whose world has shrunk to the atomic MEism and who refuse to open their eyes to what is staring in their face: debt slavery, for life. Maybe the French can do it again. Allez Gilets Jaunes! ..."
Jul 05, 2019 | www.unz.com

Miro23 says: July 5, 2019 at 11:09 am GMT 400 Words

This is a very good article on UK politics, but I would have put more emphasis on the background. Where we are today has everything to do with how we got here.

The UK has this basic left/right split (Labour/Conservative) reaching far back into its class based history. Sad to say, but within 5 seconds a British person can determine the class of the person they are dealing with (working/ middle/ upper) and act accordingly – referencing their own social background.

Margaret Thatcher was a lower middle class grocer's daughter who gained a rare place at Oxford University (on her own high intellectual merits), and took on the industrial wreckers of the radical left (Arthur Scargill etc.). She consolidated her power with the failure of the 1984-85 Miner's Strike. She introduced a new kind of Conservatism that was more classless and open to the talents, adopting free market Neoliberalism along with Ronald Reagan. A large section of the aspirational working class went for this (many already had middle class salaries) and wanted that at least their children could join the middle class through the university system.

The key point, is that this happened in the 1980's – 90's. Vast profit possibilities were opening up through digitalization, corporate outsourcing, globalization and the internet. The globalists urgently wanted that money, and had to have political compliance. They found it in Neoliberalism and hijacked both the Conservative Party and the Labour Party, creating "New Labour" (leader Tony Blair) through classless "modernization" following Margaret Thatcher's lead.

The story now, is that the UK public realize that the Globalist/Zionist/SJW/Open Frontiers/ Neoliberal crowd are not their friends . So they (the public) are backtracking fast to find solid ground. In practice this means 1) Leave the Neoliberal/Globalist EU (which has also been hijacked) using Brexit 2) Recover the traditional Socialist Labour Party of working people through Jeremy Corbyn 3) Recover the traditional Conservative Party ( Britain First) through Nigel Farage and his Brexit movement.

Hence the current and growing gulf that is separating the British public from its Zio-Globalist elite + their media propagandists (BBC, Guardian etc.).


Digital Samizdat , says: July 5, 2019 at 12:43 pm GMT

@Miro23

She introduced a new kind of Conservatism that was more classless …

Or just plain anti-working class.

It was actually Thatcher who started the neo-liberal revolution in Britain. To the extent that she refused to finish it, the elites had Tony Blair in the wings waiting to go.

Parfois1 , says: July 5, 2019 at 1:18 pm GMT

Great blast by Jonathan Cook – I feel as if he has read my thoughts about the political system keeping the proles in an Orwellian state of serfdom for plunder and abuse under the guise of “democracy” and “freedom”. Under this system if anyone steps out of line is indeed sidelined for the “anti-semitic” treatment, demonized, vilified and, virtually hanged and quartered on the public square of the mendacious media.

In the good old days, when there was a militant working class and revolting (!) unionism, we would get together at meetings, organize protests and strikes and confront bosses and officialdom. There was camaraderie, solidarity, loyalty and confident defiance that we were fighting for a better world for ourselves and our children – and also for people less fortunate than us in other countries.

But the ideas of the Chicago School in cohorts with the Frankfurters and Tavistockers were already undermining our hopeful vision of the world while the think tanks at the foundations, councils and institutes were flooding the academies with the doctrines of hardhead uncompromising Capitalism to suck the blood off the proles into anaemic immiseration and apathetic insouciance.

... ... ... .

With the working class defeated and gone, where is the spirit of resistance to spring from? Not from the selfishness of the new generation of smartphone addicts whose world has shrunk to the atomic MEism and who refuse to open their eyes to what is staring in their face: debt slavery, for life. Maybe the French can do it again. Allez Gilets Jaunes!

Harbinger , says: July 5, 2019 at 1:47 pm GMT
@Miro23 ic get pissed off and vote in the conservatives who then privatise everything. And this game continues on and on. The British public are literally headless chickens running around not knowing what on earth is going on. They’re not interested in getting to the bottom of why society is the way it is. They’re all too comfortable with their mortgages, cars, holidays twice a year, mobile phones, TV shows and football.

When all of this disappears, then certainly, they will start asking questions, but when that time comes they will be utterly powerless to do anything, as a minority in their own land. Greater Israel will be built when that time comes.

Miro23 , says: July 5, 2019 at 3:05 pm GMT
@Digital Samizdat itants and win – which she did.

No one at the time had much idea about Neoliberalism and none at all about Globalization. This was all in the future.

And it was the British working class who were really cutting their own throats, by wrecking British industry (their future employment), with constant political radicalism and strikes.

https://www.amazon.co.uk/Goodbye-Great-Britain-1976-Crisis/dp/0300057288

[Jul 02, 2019] Yep! The neolibs hate poor people and have superiority complex

Highly recommended!
Notable quotes:
"... Both neoliberal-driven governments and authoritarian societies share one important factor: They care more about consolidating power in the hands of the political, corporate and financial elite than they do about investing in the future of young people and expanding the benefits of the social contract and common good. ..."
"... Michael Yates (economist) points out throughout his book 'The Great Inequality', capitalism is devoid of any sense of social responsibility and is driven by an unchecked desire to accumulate capital at all costs. As power becomes global and politics remains local, ruling elites no longer make political concessions to workers or any other group that they either exploit or consider disposable. ..."
"... At bottom, neoliberals believe in a social hierarchy of "haves" and "have nots". They have taken this corrosive social vision and dressed it up with a "respectable" sounding ideology which all boils down to the cheap labor they depend on to make their fortunes. ..."
"... The ugly truth is that cheap-labour conservatives just don't like working people. They don't like "bottom up" prosperity, and the reason for it is very simple. "Corporate lords" have a harder time kicking them around. ..."
Apr 10, 2018 | www.theguardian.com

Originally from: Seven signs of the neoliberal apocalypse - Van Badham - Opinion - The Guardian

slorter, 27 Apr 2018 01:37

Both neoliberal-driven governments and authoritarian societies share one important factor: They care more about consolidating power in the hands of the political, corporate and financial elite than they do about investing in the future of young people and expanding the benefits of the social contract and common good.

Michael Yates (economist) points out throughout his book 'The Great Inequality', capitalism is devoid of any sense of social responsibility and is driven by an unchecked desire to accumulate capital at all costs. As power becomes global and politics remains local, ruling elites no longer make political concessions to workers or any other group that they either exploit or consider disposable.

At bottom, neoliberals believe in a social hierarchy of "haves" and "have nots". They have taken this corrosive social vision and dressed it up with a "respectable" sounding ideology which all boils down to the cheap labor they depend on to make their fortunes.

The ugly truth is that cheap-labour conservatives just don't like working people. They don't like "bottom up" prosperity, and the reason for it is very simple. "Corporate lords" have a harder time kicking them around.

Once you understand this about the cheap-labor conservatives, the real motivation for their policies makes perfect sense. Remember, cheap-labour conservatives believe in social hierarchy and privilege, so the only prosperity they want is limited to them. They want to see absolutely nothing that benefits those who work for an hourly wage.

You also need to remember that voting the coalition out, which you need to do, will not necessarily give you a neoliberal free zone; Labor needs to shed some the dogma as well.

bryonyed -> slorter , 27 Apr 2018 01:41

Yep! The neolib scum hate poor people and have complexes of deservedness.

[Jun 27, 2019] The Ongoing Restructuring of the Greater Middle East by C.J. Hopkins

Highly recommended!
Notable quotes:
"... If I were a particularly cynical analyst, it might look to me like global capitalism, starting right around 1990, freed by the collapse of the U.S.S.R. to do whatever the hell it wanted, more or less immediately started dismantling uncooperative power structures throughout the Greater Middle East. My cynical theory would kind of make sense of the "catastrophic policy blunders" that the United States has supposedly made in Iraq, Libya, and throughout the region, not to mention the whole "Global War on Terror," and what it is currently doing to Syria, and Iran. ..."
"... Take a look at that map again. What you're looking at is global capitalism cleaning up after winning the Cold War. And yes, I do mean global capitalism, not the United States of America (i.e., the "nation" most Americans think they live in, despite all evidence to the contrary). I know it hurts to accept the fact that "America" is nothing but a simulation projected onto an enormous marketplace but seriously, do you honestly believe that the U.S. government and its military serve the interests of the American people? If so, go ahead, review the history of their activities since the Second World War, and explain to me how they have benefited Americans not the corporatist ruling classes, regular working class Americans, many of whom can't afford to see a doctor, or buy a house, or educate their kids, not without assuming a lifetime of debt to some global financial institution. ..."
"... OK, so I digressed a little. The point is, "America" is not at war with Iran. Global capitalism is at war with Iran. The supranational corporatist empire. Yes, it wears an American face, and waves a big American flag, but it is no more "American" than the corporations it comprises, or the governments those corporations own, or the military forces those governments control, or the transnational banks that keep the whole show running. ..."
Jun 27, 2019 | www.unz.com

... ... ...

If I were a particularly cynical analyst, it might look to me like global capitalism, starting right around 1990, freed by the collapse of the U.S.S.R. to do whatever the hell it wanted, more or less immediately started dismantling uncooperative power structures throughout the Greater Middle East. My cynical theory would kind of make sense of the "catastrophic policy blunders" that the United States has supposedly made in Iraq, Libya, and throughout the region, not to mention the whole "Global War on Terror," and what it is currently doing to Syria, and Iran.

Take a good look at this Smithsonian map of where the U.S.A. is "combating terrorism." Note how the U.S. military (i.e., global capitalism's unofficial "enforcer") has catastrophically blundered its way into more or less every nation depicted. Or ask our "allies" in Saudi Arabia, Israel, Kuwait, Qatar, Bahrain, Turkey, United Arab Emirates, and so on. OK, you might have to reach them in New York or London, or in the South of France this time of year, but, go ahead, ask them about the horrors they've been suffering on account of our "catastrophic blunders."

See, according to this crackpot conspiracy theory that I would put forth if I were a geopolitical analyst instead of just a political satirist, there have been no "catastrophic policy blunders," not for global capitalism. The Restructuring of the Greater Middle East is proceeding exactly according to plan. The regional ruling classes are playing ball, and those who wouldn't have been regime-changed, or are being regime-changed, or are scheduled for regime change.

Sure, for the actual people of the region, and for regular Americans, the last thirty years of wars, "strategic" bombings, sanctions, fomented coups, and other such shenanigans have been a pointless waste of lives and money but global capitalism doesn't care about people or the "sovereign nations" they believe they live in, except to the extent they are useful. Global capitalism has no nations. All it has are market territories, which are either open for business or not.

Take a look at that map again. What you're looking at is global capitalism cleaning up after winning the Cold War. And yes, I do mean global capitalism, not the United States of America (i.e., the "nation" most Americans think they live in, despite all evidence to the contrary). I know it hurts to accept the fact that "America" is nothing but a simulation projected onto an enormous marketplace but seriously, do you honestly believe that the U.S. government and its military serve the interests of the American people? If so, go ahead, review the history of their activities since the Second World War, and explain to me how they have benefited Americans not the corporatist ruling classes, regular working class Americans, many of whom can't afford to see a doctor, or buy a house, or educate their kids, not without assuming a lifetime of debt to some global financial institution.

OK, so I digressed a little. The point is, "America" is not at war with Iran. Global capitalism is at war with Iran. The supranational corporatist empire. Yes, it wears an American face, and waves a big American flag, but it is no more "American" than the corporations it comprises, or the governments those corporations own, or the military forces those governments control, or the transnational banks that keep the whole show running.

This is what Iran and Syria are up against. This is what Russia is up against. Global capitalism doesn't want to nuke them, or occupy them. It wants to privatize them, like it is privatizing the rest of the world, like it has already privatized America according to my crackpot theory, of course.


peterAUS , says: June 25, 2019 at 10:08 pm GMT

if I were a geopolitical analyst, I might be able to discern a pattern there, and possibly even some sort of strategy.

Sounds good.
Some other people did it before, wrote it down etc. but it's always good to see that stuff.

it might look to me like global capitalism, starting right around 1990, freed by the collapse of the U.S.S.R. to do whatever the hell it wanted, more or less immediately started dismantling uncooperative power structures throughout the Greater Middle East.
.there have been no "catastrophic policy blunders," not for global capitalism. The Restructuring of the Greater Middle East is proceeding exactly according to plan. The regional ruling classes are playing ball, and those who wouldn't have been regime-changed, or are being regime-changed, or are scheduled for regime change.
Sure, for the actual people of the region, and for regular Americans, the last thirty years of wars, "strategic" bombings, sanctions, fomented coups, and other such shenanigans have been a pointless waste of lives and money but global capitalism doesn't care about people or the "sovereign nations" they believe they live in, except to the extent they are useful. Global capitalism has no nations. All it has are market territories, which are either open for business or not.

Spot on.

Now .there IS a bit of oversight in the article re competing groups of people on top of that "Global capitalist" bunch.
It's a bit more complicated than "Global capitalism".

Jewish heavily influenced, perhaps even controlled, Anglo-Saxon "setup" .. or Russian "setup" or Chinese "setup".
Only one of them can be on the top, and they don't like each other much.
And they all have nuclear weapons.

"Global capitalism" idea is optimistic. The global overwhelming force against little players. No chance of MAD there so not that bad.NOPE IMHO.
There is a chance of MAD.

That is the problem . Well, at least for some people.

WorkingClass , says: June 26, 2019 at 12:46 am GMT
Globalists are not Capitalists. There is no competition. Just a hand full of monopolies. These stateless corporate monopolists are better understood as Feudalists. They would have everything. We would have nothing. That's what privatization is. It's the Lords ripping off the proles.

I was a union man in my youth. We liked Capitalism. We just wanted our fair share of the loot. The working class today knows nothing about organizing. They don't even know they are working class. They think they are black or white. Woke or Deplorable.

ALL OF US non billionaires are coming up on serious hard times. Serious enough that we might have to put aside our differences. The government is corrupt. It will not save us. Instead it will continue to work to divide us.

Reparations anyone?

animalogic , says: June 26, 2019 at 10:06 am GMT
Another great article by C J Hopkins.
Hopkins (correctly) posits that behind US actions, wars etc lies the global capitalist class.
"Global capitalism has no nations. All it has are market territories, which are either open for business or not"
This is correct -- but requires an important caveat.
Intrinsic to capitalism is imperialism. They are the head & tail of the same coin.
Global capitalists may unite in their rapacious attacks on average citizens the world over. However, they will disunite when it comes to beating a competitor to a market.
The "West" has no (real) ideological differences with China, Russia & Iran. This is a fight between an existing hegemon & it's allies & a rising hegemon (China) & it's allies.
In many ways it's similar to the WW I situation: an established imperial country, the UK, & it's allies against a country with imperial pretensions -- Germany (& it's allies)
To put it in a nice little homily: the Capitalist wolves prefer to eat sheep (us) -- but, will happily eat each other should they perceive a sufficient interest in doing so.
Digital Samizdat , says: June 26, 2019 at 11:49 am GMT
@WorkingClass

Globalists are not Capitalists. There is no competition. Just a hand full of monopolies.

In most key sectors, competition ends up producing monopolies or their near-equivalent, oligopolies. The many are weeded out (or swallowed up) by the few . The situation is roughly the same with democracy, which historically has always resulted in oligarchy, as occurred in ancient Rome and Athens.

Parfois1 , says: June 27, 2019 at 11:01 am GMT
@WorkingClass

Globalists are not Capitalists. There is no competition. Just a hand full of monopolies. These stateless corporate monopolists are better understood as Feudalists. They would have everything. We would have nothing. That's what privatization is. It's the Lords ripping off the proles.

You are right in expecting that in Capitalism there would be competition – the traditional view that prices would remain low because of competition, the less competitive removed from the field, and so on. But that was primitive laisser-faire Capitalism on a fair playing field that hardly existed but in theory. Occasionally there were some "good" capitalists – say the mill-owner in a Lancashire town who gave employment to the locals, built houses, donated to charity and went to the Sunday church service with his workers. But even that "good" capitalist was in it for the profit, which comes from taking possession for himself of the value added by his workers to a commodity.

But modern Capitalism does not function that way. There are no mill-owners, just absentee investor playing in, usually rigged, stock market casinos. Industrial capitalism has been changed into financial Capitalism without borders and loyalty to worker or country. In fact, it has gone global to play country against country for more profit.

Anyway, the USA has evolved into a Fascist state (an advanced state of capitalism, a.k.a. corporatocracy) as Chomsky stated many years ago. Seen from abroad here's a view from the horse's mouth ( The Guardian is official organ of Globalist Fascism).

https://www.theguardian.com/world/2007/apr/24/usa.comment

[Jun 23, 2019] Theory and practice of neoliberalism

Notable quotes:
"... Friedrich von Hayek, one of the creed's most revered economic gurus, spent his productive years railing against government old age pension and medical insurance schemes. When he became old and infirm, he signed on for both social security and medicare. ..."
Mar 06, 2012 | discussion.theguardian.com

murielbelcher , 6 Mar 2012 09:40

Friedrich von Hayek, one of the creed's most revered economic gurus, spent his productive years railing against government old age pension and medical insurance schemes. When he became old and infirm, he signed on for both social security and medicare.

Love it. When push comes to shove all those ideologies and beliefs crumble into the dust of practical needs. Another individual who cloaked the self-interest of the rich and powerful into some kind of spurious ideology.

George wrote a rather good article about Von Hayek a few years ago I seem to remember.

[Jun 23, 2019] It never stops to amaze me how the US neoliberals especially of Republican variety claims to be Christian

Highly recommended!
Notable quotes:
"... Republicanism and true Christianity are mutually exclusive. There is nothing for them to quote. Sharing your wealth? Giving to the poor? Egalitarianism? Loving your neighbour? The Good Samaritan? ..."
"... Best to pretend that Christianity is about extreme right wing economic policy (and fascist social mores), even though it is the opposite. ..."
"... And Tea Partiers like Ayn Rand? The most anti-Christian and anti-American lunatic you can find? The corporate agenda and Wall Street interests trump everything else. No news there. ..."
"... A lot of these people describe themselves as Christian, makes you wonder which part of Jesus' message they loved more, the part that said the poor should rot without help, or the part where he said violence was justified and the chasing of wealth is to be lauded. ..."
Mar 06, 2012 | discussion.theguardian.com

JohannesL , Mar 6, 2012

It never stops to amaze me how the American Republican Right claims to be Christian. Have you noticed that they NEVER quote the words of Jesus Christ? I don't blame them, Republicanism and true Christianity are mutually exclusive. There is nothing for them to quote. Sharing your wealth? Giving to the poor? Egalitarianism? Loving your neighbour? The Good Samaritan?

Dirty words all. Best to pretend that Christianity is about extreme right wing economic policy (and fascist social mores), even though it is the opposite.

If Jesus came to the US today, he would not like Republicans and they would not like him. Santorum, Palin, Limbaugh etc. would strap him to the electric chair and pull the lever if they could, no doubt.

And Tea Partiers like Ayn Rand? The most anti-Christian and anti-American lunatic you can find? The corporate agenda and Wall Street interests trump everything else. No news there.

acorn7817 -> PeaceGrenade , 6 Mar 2012 06:21

The most bizarre aspect of the rights infatuation with Ayn Rand is that she was an ardent Atheist who's beliefs are diametrically opposite to those of Jesus & the Bible.

A lot of these people describe themselves as Christian, makes you wonder which part of Jesus' message they loved more, the part that said the poor should rot without help, or the part where he said violence was justified and the chasing of wealth is to be lauded.

richmanchester -> anindefinitearticle , 6 Mar 2012 05:40

"the only way you're gonna be able to sleep at night (and go to heaven in the afterlife) is to believe that the system has some moral justification based on the laws of nature"

I think this is one of the drivers in the shift from Catholicism to Protestanism, especially in Northern Europe.

For Medieval Catholics everyone was where God had put them, so the rich were rich and the poor poor as part of Gods plan, and anyone trying to change it was going against God.

Which is handy if you are a Baron or Bishop living the high life surrounded my thousands of starving peasants (having armed retainers also helped).

Come the industrial revolution and the rise of the business and trade classes that's not so appealing, so now God rewards the virtuous and hard working, who naturally rise to the top.

[Jun 23, 2019] These submerged policies obscure the role of government and exaggerate that of the market. As a result, citizens are unaware not only of the benefits they receive, but of the massive advantages given to powerful interests, such as insurance companies and the financial industry.

Highly recommended!
Jun 23, 2019 | discussion.theguardian.com

Kikinaskald , 6 Mar 2012 14:14

I wonder how many would continue to worship at the shrine of Ayn Rand if they knew that towards the end of her life she signed on for both Medicare and social security.

In case nobody mentioned this book before, which is relevant to the theme:

The Submerged State by Suzanne Mettler

From the Amazon book description:

These submerged policies, Mettler shows, obscure the role of government and exaggerate that of the market. As a result, citizens are unaware not only of the benefits they receive, but of the massive advantages given to powerful interests, such as insurance companies and the financial industry. Neither do they realize that the policies of the submerged state shower their largest benefits on the most affluent Americans, exacerbating inequality.

[Jun 23, 2019] The return of fundamentalist nationalism is arguably a radicalized form of neoliberalism

Highly recommended!
Notable quotes:
"... If 'free markets' of enterprising individuals have been tested to destruction, then capitalism is unable to articulate an ideology with which to legitimise itself. ..."
"... Therefore, neoliberal hegemony can only be perpetuated with authoritarian, nationalist ideologies and an order of market feudalism. ..."
"... The market is no longer an enabler of private enterprise, but something more like a medieval religion, conferring ultimate authority on a demagogue. ..."
"... Only in theory is neoliberalism a form of laissez-faire. Neoliberalism is not a case of the state saying, as it were: 'OK everyone, we'll impose some very broad legal parameters, so we'll make sure the police will turn up if someone breaks into your house; but otherwise we'll hang back and let you do what you want'. ..."
"... Hayek is perfectly clear that a strong state is required to force people to act according to market logic. If left to their own devices, they might collectivise, think up dangerous utopian ideologies, and the next thing you know there would be socialism. ..."
"... This the paradox of neoliberalism as an intellectual critique of government: a socialist state can only be prohibited with an equally strong state. That is, neoliberals are not opposed to a state as such, but to a specifically centrally-planned state based on principles of social justice - a state which, to Hayek's mind, could only end in t totalitarianism. ..."
"... It should be understood (and I speak above all as a critic of neoliberalism) that neoliberal ideology is not merely a system of class power, but an entire metaphysic, a way of understanding the world that has an emotional hold over people. For any ideology to universalize itself, it must be based on some very powerful ideas. Hayek and Von Mises were Jewish fugitives of Nazism, living through the worst horrors of twentieth-century totalitarianism. There are passages of Hayek's that describe a world operating according to the rules of a benign abstract system that make it sound rather lovely. To understand neoliberalism, we must see that it has an appeal. ..."
"... However, there is no perfect order of price signals. People do not simply act according to economic self-interest. Therefore, neoliberalism is a utopian political project like any other, requiring the brute power of the state to enforce ideological tenets. With tragic irony, the neoliberal order eventually becomes not dissimilar to the totalitarian regimes that Hayek railed against. ..."
Jun 23, 2019 | discussion.theguardian.com

Pinkie123 , 12 Apr 2019 03:23

The other point to be made is that the return of fundamentalist nationalism is arguably a radicalized form of neoliberalism. If 'free markets' of enterprising individuals have been tested to destruction, then capitalism is unable to articulate an ideology with which to legitimise itself.

Therefore, neoliberal hegemony can only be perpetuated with authoritarian, nationalist ideologies and an order of market feudalism.

In other words, neoliberalism's authoritarian orientations, previously effaced beneath discourses of egalitarian free-enterprise, become overt.

The market is no longer an enabler of private enterprise, but something more like a medieval religion, conferring ultimate authority on a demagogue.

Individual entrepreneurs collectivise into a 'people' serving a market which has become synonymous with nationhood. A corporate state emerges, free of the regulatory fetters of democracy.

The final restriction on the market - democracy itself - is removed. There then is no separate market and state, just a totalitarian market state.

Pinkie123 -> economicalternative , 12 Apr 2019 02:57

Yes, the EU is an ordoliberal institution - the state imposing rules on the market from without. Thus, it is not the chief danger. The takeover of 5G, and therefore our entire economy and industry, by Huawei - now that would be a loss of state sovereignty. But because Huawei is nominally a corporation, people do not think about is a form of governmental bureaucracy, but if powerful enough that is exactly what it is.
economicalternative -> Pinkie123 , 11 Apr 2019 21:33
Pinkie123: So good to read your understandings of neoliberalism. The political project is the imposition of the all seeing all knowing 'market' on all aspects of human life. This version of the market is an 'information processor'. Speaking of the different idea of the laissez-faire version of market/non market areas and the function of the night watchman state are you aware there are different neoliberalisms? The EU for example runs on the version called 'ordoliberalism'. I understand that this still sees some areas of society as separate from 'the market'?
economicalternative -> ADamnSmith2016 , 11 Apr 2019 21:01
ADamnSmith: Philip Mirowski has discussed this 'under the radar' aspect of neoliberalism. How to impose 'the market' on human affairs - best not to be to explicit about what you are doing. Only recently has some knowledge about the actual neoliberal project been appearing. Most people think of neoliberalism as 'making the rich richer' - just a ramped up version of capitalism. That's how the left has thought of it and they have been ineffective in stopping its implementation.
subtropics , 11 Apr 2019 13:51
Neoliberalism allows with impunity pesticide businesses to apply high risk toxic pesticides everywhere seriously affecting the health of children, everyone as well as poisoning the biosphere and all its biodiversity. This freedom has gone far too far and is totally unacceptable and these chemicals should be banished immediately.
Pinkie123 , 11 Apr 2019 13:27
The left have been entirely wrong to believe that neoliberalism is a mobilisation of anarchic, 'free' markets. It never was so. Only a few more acute thinkers on the left (Jacques Ranciere, Foucault, Deleuze and, more recently, Mark Fisher, Wendy Brown, Will Davies and David Graeber) have understood neoliberalism to be a techno-economic order of control, requiring a state apparatus to enforce wholly artificial directives.

Also, the work of recent critics of data markets such as Shoshana Zuboff has shown capitalism to be evolving into a totalitarian system of control through cybernetic data aggregation.

Only in theory is neoliberalism a form of laissez-faire. Neoliberalism is not a case of the state saying, as it were: 'OK everyone, we'll impose some very broad legal parameters, so we'll make sure the police will turn up if someone breaks into your house; but otherwise we'll hang back and let you do what you want'.

Hayek is perfectly clear that a strong state is required to force people to act according to market logic. If left to their own devices, they might collectivise, think up dangerous utopian ideologies, and the next thing you know there would be socialism.

This the paradox of neoliberalism as an intellectual critique of government: a socialist state can only be prohibited with an equally strong state. That is, neoliberals are not opposed to a state as such, but to a specifically centrally-planned state based on principles of social justice - a state which, to Hayek's mind, could only end in t totalitarianism.

Because concepts of social justice are expressed in language, neoliberals are suspicious of linguistic concepts, regarding them as politically dangerous. Their preference has always been for numbers. Hence, market bureaucracy aims for the quantification of all values - translating the entirety of social reality into metrics, data, objectively measurable price signals. Numbers are safe. The laws of numbers never change. Numbers do not lead to revolutions. Hence, all the audit, performance review and tick-boxing that has been enforced into public institutions serves to render them forever subservient to numerical (market) logic. However, because social institutions are not measurable, attempts to make them so become increasingly mystical and absurd. Administrators manage data that has no relation to reality. Quantitatively unmeasurable things - like happiness or success - are measured, with absurd results.

It should be understood (and I speak above all as a critic of neoliberalism) that neoliberal ideology is not merely a system of class power, but an entire metaphysic, a way of understanding the world that has an emotional hold over people. For any ideology to universalize itself, it must be based on some very powerful ideas. Hayek and Von Mises were Jewish fugitives of Nazism, living through the worst horrors of twentieth-century totalitarianism. There are passages of Hayek's that describe a world operating according to the rules of a benign abstract system that make it sound rather lovely. To understand neoliberalism, we must see that it has an appeal.

However, there is no perfect order of price signals. People do not simply act according to economic self-interest. Therefore, neoliberalism is a utopian political project like any other, requiring the brute power of the state to enforce ideological tenets. With tragic irony, the neoliberal order eventually becomes not dissimilar to the totalitarian regimes that Hayek railed against.

[Jun 22, 2019] Use of science by the US politicians: they uses science the way the drunk uses a lamppost, for support rather than illumination.

Highly recommended!
Notable quotes:
"... "the administrator uses social science the way the drunk uses a lamppost, for support rather than illumination." Scholars' disinclination to be used in this way helps explain more of the distance. ..."
Jun 16, 2019 | www.theamericanconservative.com

The evidence suggests that foreign policymakers do not seek insight from scholars, but rather support for what they already want to do.

As Desch quotes a World War II U.S. Navy anthropologist, "the administrator uses social science the way the drunk uses a lamppost, for support rather than illumination." Scholars' disinclination to be used in this way helps explain more of the distance.

[Jun 19, 2019] America s Suicide Epidemic

Highly recommended!
Notable quotes:
"... A suicide occurs in the United States roughly once every 12 minutes . What's more, after decades of decline, the rate of self-inflicted deaths per 100,000 people annually -- the suicide rate -- has been increasing sharply since the late 1990s. Suicides now claim two-and-a-half times as many lives in this country as do homicides , even though the murder rate gets so much more attention. ..."
"... In some states the upsurge was far higher: North Dakota (57.6%), New Hampshire (48.3%), Kansas (45%), Idaho (43%). ..."
"... Since 2008 , suicide has ranked 10th among the causes of death in this country. For Americans between the ages of 10 and 34, however, it comes in second; for those between 35 and 45, fourth. The United States also has the ninth-highest rate in the 38-country Organization for Economic Cooperation and Development. Globally , it ranks 27th. ..."
"... The rates in rural counties are almost double those in the most urbanized ones, which is why states like Idaho, Kansas, New Hampshire, and North Dakota sit atop the suicide list. Furthermore, a far higher percentage of people in rural states own guns than in cities and suburbs, leading to a higher rate of suicide involving firearms, the means used in half of all such acts in this country. ..."
"... Education is also a factor. The suicide rate is lowest among individuals with college degrees. Those who, at best, completed high school are, by comparison, twice as likely to kill themselves. Suicide rates also tend to be lower among people in higher-income brackets. ..."
"... Evidence from the United States , Brazil , Japan , and Sweden does indicate that, as income inequality increases, so does the suicide rate. ..."
"... One aspect of the suicide epidemic is puzzling. Though whites have fared far better economically (and in many other ways) than African Americans, their suicide rate is significantly higher . ..."
"... The higher suicide rate among whites as well as among people with only a high school diploma highlights suicide's disproportionate effect on working-class whites. This segment of the population also accounts for a disproportionate share of what economists Anne Case and Angus Deaton have labeled " deaths of despair " -- those caused by suicides plus opioid overdoses and liver diseases linked to alcohol abuse. Though it's hard to offer a complete explanation for this, economic hardship and its ripple effects do appear to matter. ..."
"... Trump has neglected his base on pretty much every issue; this one's no exception. ..."
Jun 19, 2019 | www.nakedcapitalism.com

Yves here. This post describes how the forces driving the US suicide surge started well before the Trump era, but explains how Trump has not only refused to acknowledge the problem, but has made matters worse.

However, it's not as if the Democrats are embracing this issue either.

BY Rajan Menon, the Anne and Bernard Spitzer Professor of International Relations at the Powell School, City College of New York, and Senior Research Fellow at Columbia University's Saltzman Institute of War and Peace Studies. His latest book is The Conceit of Humanitarian Intervention Originally published at TomDispatch .

We hear a lot about suicide when celebrities like Anthony Bourdain and Kate Spade die by their own hand. Otherwise, it seldom makes the headlines. That's odd given the magnitude of the problem.

In 2017, 47,173 Americans killed themselves. In that single year, in other words, the suicide count was nearly seven times greater than the number of American soldiers killed in the Afghanistan and Iraq wars between 2001 and 2018.

A suicide occurs in the United States roughly once every 12 minutes . What's more, after decades of decline, the rate of self-inflicted deaths per 100,000 people annually -- the suicide rate -- has been increasing sharply since the late 1990s. Suicides now claim two-and-a-half times as many lives in this country as do homicides , even though the murder rate gets so much more attention.

In other words, we're talking about a national epidemic of self-inflicted deaths.

Worrisome Numbers

Anyone who has lost a close relative or friend to suicide or has worked on a suicide hotline (as I have) knows that statistics transform the individual, the personal, and indeed the mysterious aspects of that violent act -- Why this person? Why now? Why in this manner? -- into depersonalized abstractions. Still, to grasp how serious the suicide epidemic has become, numbers are a necessity.

According to a 2018 Centers for Disease Control study , between 1999 and 2016, the suicide rate increased in every state in the union except Nevada, which already had a remarkably high rate. In 30 states, it jumped by 25% or more; in 17, by at least a third. Nationally, it increased 33% . In some states the upsurge was far higher: North Dakota (57.6%), New Hampshire (48.3%), Kansas (45%), Idaho (43%).

Alas, the news only gets grimmer.

Since 2008 , suicide has ranked 10th among the causes of death in this country. For Americans between the ages of 10 and 34, however, it comes in second; for those between 35 and 45, fourth. The United States also has the ninth-highest rate in the 38-country Organization for Economic Cooperation and Development. Globally , it ranks 27th.

More importantly, the trend in the United States doesn't align with what's happening elsewhere in the developed world. The World Health Organization, for instance, reports that Great Britain, Canada, and China all have notably lower suicide rates than the U.S., as do all but six countries in the European Union. (Japan's is only slightly lower.)

World Bank statistics show that, worldwide, the suicide rate fell from 12.8 per 100,000 in 2000 to 10.6 in 2016. It's been falling in China , Japan (where it has declined steadily for nearly a decade and is at its lowest point in 37 years), most of Europe, and even countries like South Korea and Russia that have a significantly higher suicide rate than the United States. In Russia, for instance, it has dropped by nearly 26% from a high point of 42 per 100,000 in 1994 to 31 in 2019.

We know a fair amount about the patterns of suicide in the United States. In 2017, the rate was highest for men between the ages of 45 and 64 (30 per 100,000) and those 75 and older (39.7 per 100,000).

The rates in rural counties are almost double those in the most urbanized ones, which is why states like Idaho, Kansas, New Hampshire, and North Dakota sit atop the suicide list. Furthermore, a far higher percentage of people in rural states own guns than in cities and suburbs, leading to a higher rate of suicide involving firearms, the means used in half of all such acts in this country.

There are gender-based differences as well. From 1999 to 2017, the rate for men was substantially higher than for women -- almost four-and-a-half times higher in the first of those years, slightly more than three-and-a-half times in the last.

Education is also a factor. The suicide rate is lowest among individuals with college degrees. Those who, at best, completed high school are, by comparison, twice as likely to kill themselves. Suicide rates also tend to be lower among people in higher-income brackets.

The Economics of Stress

This surge in the suicide rate has taken place in years during which the working class has experienced greater economic hardship and psychological stress. Increased competition from abroad and outsourcing, the results of globalization, have contributed to job loss, particularly in economic sectors like manufacturing, steel, and mining that had long been mainstays of employment for such workers. The jobs still available often paid less and provided fewer benefits.

Technological change, including computerization, robotics, and the coming of artificial intelligence, has similarly begun to displace labor in significant ways, leaving Americans without college degrees, especially those 50 and older, in far more difficult straits when it comes to finding new jobs that pay well. The lack of anything resembling an industrial policy of a sort that exists in Europe has made these dislocations even more painful for American workers, while a sharp decline in private-sector union membership -- down from nearly 17% in 1983 to 6.4% today -- has reduced their ability to press for higher wages through collective bargaining.

Furthermore, the inflation-adjusted median wage has barely budged over the last four decades (even as CEO salaries have soared). And a decline in worker productivity doesn't explain it: between 1973 and 2017 productivity increased by 77%, while a worker's average hourly wage only rose by 12.4%. Wage stagnation has made it harder for working-class Americans to get by, let alone have a lifestyle comparable to that of their parents or grandparents.

The gap in earnings between those at the top and bottom of American society has also increased -- a lot. Since 1979, the wages of Americans in the 10th percentile increased by a pitiful 1.2%. Those in the 50th percentile did a bit better, making a gain of 6%. By contrast, those in the 90th percentile increased by 34.3% and those near the peak of the wage pyramid -- the top 1% and especially the rarefied 0.1% -- made far more substantial gains.

And mind you, we're just talking about wages, not other forms of income like large stock dividends, expensive homes, or eyepopping inheritances. The share of net national wealth held by the richest 0.1% increased from 10% in the 1980s to 20% in 2016. By contrast, the share of the bottom 90% shrank in those same decades from about 35% to 20%. As for the top 1%, by 2016 its share had increased to almost 39% .

The precise relationship between economic inequality and suicide rates remains unclear, and suicide certainly can't simply be reduced to wealth disparities or financial stress. Still, strikingly, in contrast to the United States, suicide rates are noticeably lower and have been declining in Western European countries where income inequalities are far less pronounced, publicly funded healthcare is regarded as a right (not demonized as a pathway to serfdom), social safety nets far more extensive, and apprenticeships and worker retraining programs more widespread.

Evidence from the United States , Brazil , Japan , and Sweden does indicate that, as income inequality increases, so does the suicide rate. If so, the good news is that progressive economic policies -- should Democrats ever retake the White House and the Senate -- could make a positive difference. A study based on state-by-state variations in the U.S. found that simply boosting the minimum wage and Earned Income Tax Credit by 10% appreciably reduces the suicide rate among people without college degrees.

The Race Enigma

One aspect of the suicide epidemic is puzzling. Though whites have fared far better economically (and in many other ways) than African Americans, their suicide rate is significantly higher . It increased from 11.3 per 100,000 in 2000 to 15.85 per 100,000 in 2017; for African Americans in those years the rates were 5.52 per 100,000 and 6.61 per 100,000. Black men are 10 times more likely to be homicide victims than white men, but the latter are two-and-half times more likely to kill themselves.

The higher suicide rate among whites as well as among people with only a high school diploma highlights suicide's disproportionate effect on working-class whites. This segment of the population also accounts for a disproportionate share of what economists Anne Case and Angus Deaton have labeled " deaths of despair " -- those caused by suicides plus opioid overdoses and liver diseases linked to alcohol abuse. Though it's hard to offer a complete explanation for this, economic hardship and its ripple effects do appear to matter.

According to a study by the St. Louis Federal Reserve , the white working class accounted for 45% of all income earned in the United States in 1990, but only 27% in 2016. In those same years, its share of national wealth plummeted, from 45% to 22%. And as inflation-adjusted wages have decreased for men without college degrees, many white workers seem to have lost hope of success of any sort. Paradoxically, the sense of failure and the accompanying stress may be greater for white workers precisely because they traditionally were much better off economically than their African American and Hispanic counterparts.

In addition, the fraying of communities knit together by employment in once-robust factories and mines has increased social isolation among them, and the evidence that it -- along with opioid addiction and alcohol abuse -- increases the risk of suicide is strong . On top of that, a significantly higher proportion of whites than blacks and Hispanics own firearms, and suicide rates are markedly higher in states where gun ownership is more widespread.

Trump's Faux Populism

The large increase in suicide within the white working class began a couple of decades before Donald Trump's election. Still, it's reasonable to ask what he's tried to do about it, particularly since votes from these Americans helped propel him to the White House. In 2016, he received 64% of the votes of whites without college degrees; Hillary Clinton, only 28%. Nationwide, he beat Clinton in counties where deaths of despair rose significantly between 2000 and 2015.

White workers will remain crucial to Trump's chances of winning in 2020. Yet while he has spoken about, and initiated steps aimed at reducing, the high suicide rate among veterans , his speeches and tweets have never highlighted the national suicide epidemic or its inordinate impact on white workers. More importantly, to the extent that economic despair contributes to their high suicide rate, his policies will only make matters worse.

The real benefits from the December 2017 Tax Cuts and Jobs Act championed by the president and congressional Republicans flowed to those on the top steps of the economic ladder. By 2027, when the Act's provisions will run out, the wealthiest Americans are expected to have captured 81.8% of the gains. And that's not counting the windfall they received from recent changes in taxes on inheritances. Trump and the GOP doubled the annual amount exempt from estate taxes -- wealth bequeathed to heirs -- through 2025 from $5.6 million per individual to $11.2 million (or $22.4 million per couple). And who benefits most from this act of generosity? Not workers, that's for sure, but every household with an estate worth $22 million or more will.

As for job retraining provided by the Workforce Innovation and Opportunity Act, the president proposed cutting that program by 40% in his 2019 budget, later settling for keeping it at 2017 levels. Future cuts seem in the cards as long as Trump is in the White House. The Congressional Budget Office projects that his tax cuts alone will produce even bigger budget deficits in the years to come. (The shortfall last year was $779 billion and it is expected to reach $1 trillion by 2020.) Inevitably, the president and congressional Republicans will then demand additional reductions in spending for social programs.

This is all the more likely because Trump and those Republicans also slashed corporate taxes from 35% to 21% -- an estimated $1.4 trillion in savings for corporations over the next decade. And unlike the income tax cut, the corporate tax has no end date . The president assured his base that the big bucks those companies had stashed abroad would start flowing home and produce a wave of job creation -- all without adding to the deficit. As it happens, however, most of that repatriated cash has been used for corporate stock buy-backs, which totaled more than $800 billion last year. That, in turn, boosted share prices, but didn't exactly rain money down on workers. No surprise, of course, since the wealthiest 10% of Americans own at least 84% of all stocks and the bottom 60% have less than 2% of them.

And the president's corporate tax cut hasn't produced the tsunami of job-generating investments he predicted either. Indeed, in its aftermath, more than 80% of American companies stated that their plans for investment and hiring hadn't changed. As a result, the monthly increase in jobs has proven unremarkable compared to President Obama's second term, when the economic recovery that Trump largely inherited began. Yes, the economy did grow 2.3% in 2017 and 2.9% in 2018 (though not 3.1% as the president claimed). There wasn't, however, any "unprecedented economic boom -- a boom that has rarely been seen before" as he insisted in this year's State of the Union Address .

Anyway, what matters for workers struggling to get by is growth in real wages, and there's nothing to celebrate on that front: between 2017 and mid-2018 they actually declined by 1.63% for white workers and 2.5% for African Americans, while they rose for Hispanics by a measly 0.37%. And though Trump insists that his beloved tariff hikes are going to help workers, they will actually raise the prices of goods, hurting the working class and other low-income Americans the most .

Then there are the obstacles those susceptible to suicide face in receiving insurance-provided mental-health care. If you're a white worker without medical coverage or have a policy with a deductible and co-payments that are high and your income, while low, is too high to qualify for Medicaid, Trump and the GOP haven't done anything for you. Never mind the president's tweet proclaiming that "the Republican Party Will Become 'The Party of Healthcare!'"

Let me amend that: actually, they have done something. It's just not what you'd call helpful. The percentage of uninsured adults, which fell from 18% in 2013 to 10.9% at the end of 2016, thanks in no small measure to Obamacare , had risen to 13.7% by the end of last year.

The bottom line? On a problem that literally has life-and-death significance for a pivotal portion of his base, Trump has been AWOL. In fact, to the extent that economic strain contributes to the alarming suicide rate among white workers, his policies are only likely to exacerbate what is already a national crisis of epidemic proportions.


Seamus Padraig , June 19, 2019 at 6:46 am

Trump has neglected his base on pretty much every issue; this one's no exception.

DanB , June 19, 2019 at 8:55 am

Trump is running on the claim that he's turned the economy around; addressing suicide undermines this (false) claim. To state the obvious, NC readers know that Trump is incapable of caring about anyone or anything beyond his in-the-moment interpretation of his self-interest.

JCC , June 19, 2019 at 9:25 am

Not just Trump. Most of the Republican Party and much too many Democrats have also abandoned this base, otherwise known as working class Americans.

The economic facts are near staggering and this article has done a nice job of summarizing these numbers that are spread out across a lot of different sites.

I've experienced this rise within my own family and probably because of that fact I'm well aware that Trump is only a symptom of an entire political system that has all but abandoned it's core constituency, the American Working Class.

sparagmite , June 19, 2019 at 10:13 am

Yep It's not just Trump. The author mentions this, but still focuses on him for some reason. Maybe accurately attributing the problems to a failed system makes people feel more hopeless. Current nihilists in Congress make it their duty to destroy once helpful institutions in the name of "fiscal responsibility," i.e., tax cuts for corporate elites.

dcblogger , June 19, 2019 at 12:20 pm

Maybe because Trump is president and bears the greatest responsibility in this particular time. A great piece and appreciate all the documentation.

Svante , June 19, 2019 at 7:00 am

I'd assumed, the "working class" had dissappeared, back during Reagan's Miracle? We'd still see each other, sitting dazed on porches & stoops of rented old places they'd previously; trying to garden, fix their car while smoking, drinking or dazed on something? Those able to morph into "middle class" lives, might've earned substantially less, especially benefits and retirement package wise. But, a couple decades later, it was their turn, as machines and foreigners improved productivity. You could lease a truck to haul imported stuff your kids could sell to each other, or help robots in some warehouse, but those 80s burger flipping, rent-a-cop & repo-man gigs dried up. Your middle class pals unemployable, everybody in PayDay Loan debt (without any pay day in sight?) SHTF Bug-out bags® & EZ Credit Bushmasters began showing up at yard sales, even up North. Opioids became the religion of the proletariat Whites simply had much farther to fall, more equity for our betters to steal. And it was damned near impossible to get the cops to shoot you?

Man, this just ain't turning out as I'd hoped. Need coffee!

Svante , June 19, 2019 at 7:55 am

We especially love the euphemism "Deaths O' Despair." since it works so well on a Chyron, especially supered over obese crackers waddling in crusty MossyOak™ Snuggies®

https://mobile.twitter.com/BernieSanders/status/1140998287933300736
https://m.youtube.com/watch?v=apxZvpzq4Mw

DanB , June 19, 2019 at 9:29 am

This is a very good article, but I have a comment about the section titled, "The Race Enigma." I think the key to understanding why African Americans have a lower suicide rate lies in understanding the sociological notion of community, and the related concept Emil Durkheim called social solidarity. This sense of solidarity and community among African Americans stands in contrast to the "There is no such thing as society" neoliberal zeitgeist that in fact produces feelings of extreme isolation, failure, and self-recriminations. An aside: as a white boy growing up in 1950s-60s Detroit I learned that if you yearned for solidarity and community what you had to do was to hang out with black people.

Amfortas the hippie , June 19, 2019 at 2:18 pm

" if you yearned for solidarity and community what you had to do was to hang out with black people."
amen, to that. in my case rural black people.
and I'll add Hispanics to that.
My wife's extended Familia is so very different from mine.
Solidarity/Belonging is cool.
I recommend it.
on the article we keep the scanner on("local news").we had a 3-4 year rash of suicides and attempted suicides(determined by chisme, or deduction) out here.
all of them were despair related more than half correlated with meth addiction itself a despair related thing.
ours were equally male/female, and across both our color spectrum.
that leaves economics/opportunity/just being able to get by as the likely cause.

David B Harrison , June 19, 2019 at 10:05 am

What's left out here is the vast majority of these suicides are men.

Christy , June 19, 2019 at 1:53 pm

Actually, in the article it states:
"There are gender-based differences as well. From 1999 to 2017, the rate for men was substantially higher than for women -- almost four-and-a-half times higher in the first of those years, slightly more than three-and-a-half times in the last."

jrs , June 19, 2019 at 1:58 pm

which in some sense makes despair the wrong word, as females are actually quite a bit more likely to be depressed for instance, but much less likely to "do the deed". Despair if we mean a certain social context maybe, but not just a psychological state.

Ex-Pralite Monk , June 19, 2019 at 10:10 am

obese cracker

You lay off the racial slur "cracker" and I'll lay off the racial slur "nigger". Deal?

rd , June 19, 2019 at 10:53 am

Suicide deaths are a function of the suicide attempt rate and the efficacy of the method used. A unique aspect of the US is the prevalence of guns in the society and therefore the greatly increased usage of them in suicide attempts compared to other countries. Guns are a very efficient way of committing suicide with a very high "success" rate. As of 2010, half of US suicides were using a gun as opposed to other countries with much lower percentages. So if the US comes even close to other countries in suicide rates then the US will surpass them in deaths. https://en.wikipedia.org/wiki/Suicide_methods#Firearms

Now we can add in opiates, especially fentanyl, that can be quite effective as well.

The economic crisis hitting middle America over the past 30 years has been quite focused on the states and populations that also tend to have high gun ownership rates. So suicide attempts in those populations have a high probability of "success".

Joe Well , June 19, 2019 at 11:32 am

I would just take this opportunity to add that the police end up getting called in to prevent on lot of suicide attempts, and just about every successful one.

In the face of so much blanket demonization of the police, along with justified criticism, it's important to remember that.

B:H , June 19, 2019 at 11:44 am

As someone who works in the mental health treatment system, acute inpatient psychiatry to be specific, I can say that of the 25 inpatients currently here, 11 have been here before, multiple times. And this is because of several issues, in my experience: inadequate inpatient resources, staff burnout, inadequate support once they leave the hospital, and the nature of their illnesses. It's a grim picture here and it's been this way for YEARS. Until MAJOR money is spent on this issue it's not going to get better. This includes opening more facilities for people to live in long term, instead of closing them, which has been the trend I've seen.

B:H , June 19, 2019 at 11:53 am

One last thing the CEO wants "asses in beds", aka census, which is the money maker. There's less profit if people get better and don't return. And I guess I wouldn't have a job either. Hmmmm: sickness generates wealth.

[Jun 19, 2019] Bias bias the inclination to accuse people of bias by James Thompson

Highly recommended!
Notable quotes:
"... Early in any psychology course, students are taught to be very cautious about accepting people's reports. A simple trick is to stage some sort of interruption to the lecture by confederates, and later ask the students to write down what they witnessed. Typically, they will misremember the events, sequences and even the number of people who staged the tableaux. Don't trust witnesses, is the message. ..."
"... The three assumptions -- lack of rationality, stubbornness, and costs -- imply that there is slim chance that people can ever learn or be educated out of their biases; ..."
"... So, are we as hopeless as some psychologists claim we are? In fact, probably not. Not all the initial claims have been substantiated. For example, it seems we are not as loss averse as previously claimed. Does our susceptibility to printed visual illusions show that we lack judgement in real life? ..."
"... Well the sad fact is that there's nobody in the position to protect "governments" from their own biases, and "scientists" from theirs ..."
"... Long ago a lawyer acquaintance, referring to a specific judge, told me that the judge seemed to "make shit up as he was going along". I have long held psychiatry fits that statement very well. ..."
"... Here we have a real scientist fighting the nonsense spreading from (neoclassical) economics into other realms of science/academia. ..."
"... Behavioral economics is a sideline by-product of neoclassical micro-economic theory. It tries to cope with experimental data that is inconsistent with that theory. ..."
"... Everything in neoclassical economics is a travesty. "Rational choice theory" and its application in "micro economics" is false from the ground up. It basically assumes that people are gobbling up resources without plan, meaning or relevant circumstances. Neoclassical micro economic theory is so false and illogical that I would not know where to start in a comment, so I should like to refer to a whole book about it: Keen, Steve: "Debunking economics". ..."
"... As the theory is totally wrong it is really not surprising that countless experiments show that people do not behave the way neoclassical theory predicts. How do economists react to this? Of course they assume that people are "irrational" because they do not behave according to their studied theory. (Why would you ever change your basic theory because of some tedious facts?) ..."
"... The title of the 1st ed. of Keen's book was "Debunking Economics: The Naked Emperor of the Social Sciences" which was simply a perfect title. ..."
Jun 19, 2019 | www.unz.com

Early in any psychology course, students are taught to be very cautious about accepting people's reports. A simple trick is to stage some sort of interruption to the lecture by confederates, and later ask the students to write down what they witnessed. Typically, they will misremember the events, sequences and even the number of people who staged the tableaux. Don't trust witnesses, is the message.

Another approach is to show visual illusions, such as getting estimates of line lengths in the Muller-Lyer illusion, or studying simple line lengths under social pressure, as in the Asch experiment, or trying to solve the Peter Wason logic problems, or the puzzles set by Kahneman and Tversky. All these appear to show severe limitations of human judgment. Psychology is full of cautionary tales about the foibles of common folk.

As a consequence of this softening up, psychology students come to regard themselves and most people as fallible, malleable, unreliable, biased and generally irrational. No wonder psychologists feel superior to the average citizen, since they understand human limitations and, with their superior training, hope to rise above such lowly superstitions.

However, society still functions, people overcome errors and many things work well most of the time. Have psychologists, for one reason or another, misunderstood people, and been too quick to assume that they are incapable of rational thought?

Gerd Gigerenzer thinks so.

https://www.nowpublishers.com/article/OpenAccessDownload/RBE-0092

He is particularly interested in the economic consequences of apparent irrationality, and whether our presumed biases really result in us making bad economic decisions. If so, some argue we need a benign force, say a government, to protect us from our lack of capacity. Perhaps we need a tattoo on our forehead: Diminished Responsibility.

The argument leading from cognitive biases to governmental paternalism -- in short, the irrationality argument -- consists of three assumptions and one conclusion:

1. Lack of rationality. Experiments have shown that people's intuitions are systematically biased.

2. Stubbornness. Like visual illusions, biases are persistent and hardly corrigible by education.

3. Substantial costs. Biases may incur substantial welfare-relevant costs such as lower wealth, health, or happiness.

4. Biases justify governmental paternalism. To protect people from theirbiases, governments should "nudge" the public toward better behavior.

The three assumptions -- lack of rationality, stubbornness, and costs -- imply that there is slim chance that people can ever learn or be educated out of their biases; instead governments need to step in with a policy called libertarian paternalism (Thaler and Sunstein, 2003).

So, are we as hopeless as some psychologists claim we are? In fact, probably not. Not all the initial claims have been substantiated. For example, it seems we are not as loss averse as previously claimed. Does our susceptibility to printed visual illusions show that we lack judgement in real life?

In Shepard's (1990) words, "to fool a visual system that has a full binocular and freely mobile view of a well-illuminated scene is next to impossible" (p. 122). Thus, in psychology, the visual system is seen more as a genius than a fool in making intelligent inferences, and inferences, after all, are necessary for making sense of the images on the retina.

Most crucially, can people make probability judgements? Let us see. Try solving this one:

A disease has a base rate of .1, and a test is performed that has a hit rate of .9 (the conditional probability of a positive test given disease) and a false positive rate of .1 (the conditional probability of a positive test given no disease). What is the probability that a random person with a positive test result actually has the disease?

Most people fail this test, including 79% of gynaecologists giving breast screening tests. Some researchers have drawn the conclusion that people are fundamentally unable to deal with conditional probabilities. On the contrary, there is a way of laying out the problem such that most people have no difficulty with it. Watch what it looks like when presented as natural frequencies:

Among every 100 people, 10 are expected to have a disease. Among those 10, nine are expected to correctly test positive. Among the 90 people without the disease, nine are expected to falsely test positive. What proportion of those who test positive actually have the disease?

In this format the positive test result gives us 9 people with the disease and 9 people without the disease, so the chance that a positive test result shows a real disease is 50/50. Only 13% of gynaecologists fail this presentation.

Summing up the virtues of natural frequencies, Gigerenzer says:

When college students were given a 2-hour course in natural frequencies, the number of correct Bayesian inferences increased from 10% to 90%; most important, this 90% rate was maintained 3 months after training (Sedlmeier and Gigerenzer, 2001). Meta-analyses have also documented the "de-biasing" effect, and natural frequencies are now a technical term in evidence-based medicine (Akiet al., 2011; McDowell and Jacobs, 2017). These results are consistent with a long literature on techniques for successfully teaching statistical reasoning (e.g., Fonget al., 1986). In sum, humans can learn Bayesian inference quickly if the information is presented in natural frequencies.

If the problem is set out in a simple format, almost all of us can all do conditional probabilities.

I taught my medical students about the base rate screening problem in the late 1970s, based on: Robyn Dawes (1962) "A note on base rates and psychometric efficiency". Decades later, alarmed by the positive scan detection of an unexplained mass, I confided my fears to a psychiatrist friend. He did a quick differential diagnosis on bowel cancer, showing I had no relevant symptoms, and reminded me I had lectured him as a student on base rates decades before, so I ought to relax. Indeed, it was false positive.

Here are the relevant figures, set out in terms of natural frequencies

Every test has a false positive rate (every step is being taken to reduce these), and when screening is used for entire populations many patients have to undergo further investigations, sometimes including surgery.

Setting out frequencies in a logical sequence can often prevent misunderstandings. Say a man on trial for having murdered his spouse has previously physically abused her. Should his previous history of abuse not be raised in Court because only 1 woman in 2500 cases of abuse is murdered by her abuser? Of course, whatever a defence lawyer may argue and a Court may accept, this is back to front. OJ Simpson was not on trial for spousal abuse, but for the murder of his former partner. The relevant question is: what is the probability that a man murdered his partner, given that she has been murdered and that he previously battered her.

Accepting the figures used by the defence lawyer, if 1 in 2500 women are murdered every year by their abusive male partners, how many women are murdered by men who did not previously abuse them? Using government figures that 5 women in 100,000 are murdered every year then putting everything onto the same 100,000 population, the frequencies look like this:

So, 40 to 5, it is 8 times more probable that abused women are murdered by their abuser. A relevant issue to raise in Court about the past history of an accused man.

Are people's presumed biases costly, in the sense of making them vulnerable to exploitation, such that they can be turned into a money pump, or is it a case of "once bitten, twice shy"? In fact, there is no evidence that these apparently persistent logical errors actually result in people continually making costly errors. That presumption turns out to be a bias bias.

Gigerenzer goes on to show that people are in fact correct in their understanding of the randomness of short sequences of coin tosses, and Kahneman and Tversky wrong. Elegantly, he also shows that the "hot hand" of successful players in basketball is a real phenomenon, and not a stubborn illusion as claimed.

With equal elegance he disposes of a result I had depended upon since Slovic (1982), which is that people over-estimate the frequency of rare risks and under-estimate the frequency of common risks. This finding has led to the belief that people are no good at estimating risk. Who could doubt that a TV series about Chernobyl will lead citizens to have an exaggerated fear of nuclear power stations?

The original Slovic study was based on 39 college students, not exactly a fair sample of humanity. The conceit of psychologists knows no bounds. Gigerenzer looks at the data and shows that it is yet another example of regression to the mean. This is an apparent effect which arises whenever the predictor is less than perfect (the most common case), an unsystematic error effect, which is already evident when you calculate the correlation coefficient. Parental height and their children's heights are positively but not perfectly correlated at about r = 0.5. Predictions made in either direction will under-predict in either direction, simply because they are not perfect, and do not capture all the variation. Try drawing out the correlation as an ellipse to see the effect of regression, compared to the perfect case of the straight line of r= 1.0

What diminishes in the presence of noise is the variability of the estimates, both the estimates of the height of the sons based on that of their fathers, and vice versa. Regression toward the mean is a result of unsystematic, not systematic error (Stigler,1999).

Gigerenzer also looks at the supposed finding that people are over-confidence in predictions, and finds that it is another regression to the mean problem.

Gigerenzer then goes on to consider that old favourite, that most people think they are better than average, which supposedly cannot be the case, because average people are average.

Consider the finding that most drivers think they drive better than average. If better driving is interpreted as meaning fewer accidents, then most drivers' beliefs are actually true. The number of accidents per person has a skewed distribution, and an analysis of U.S. accident statistics showed that some 80% of drivers have fewer accidents than the average number of accidents (Mousavi and Gigerenzer, 2011)

Then he looks at the classical demonstration of framing, that is to say, the way people appear to be easily swayed by how the same facts are "framed" or presented to the person who has to make a decision.

A patient suffering from a serious heart disease considers high-risk surgery and asks a doctor about its prospects.

The doctor can frame the answer in two ways:

Positive Frame: Five years after surgery, 90% of patients are alive.
Negative Frame: Five years after surgery, 10% of patients are dead.

Should the patient listen to how the doctor frames the answer? Behavioral economists say no because both frames are logically equivalent (Kahneman, 2011). Nevertheless, people do listen. More are willing to agree to a medical procedure if the doctor uses positive framing (90% alive) than if negative framing is used (10% dead) (Moxeyet al., 2003). Framing effects challenge the assumption of stable preferences, leading to preference reversals. Thaler and Sunstein (2008) who presented the above surgery problem, concluded that "framing works because people tend to be somewhat mindless, passive decisionmakers" (p. 40)

Gigerenzer points out that in this particular example, subjects are having to make their judgements without knowing a key fact: how many survive without surgery. If you know that you have a datum which is more influential. These are the sorts of questions patients will often ask about, and discuss with other patients, or with several doctors. Furthermore, you don't have to spin a statistic. You could simply say: "Five years after surgery, 90% of patients are alive and 10% are dead".

Gigerenzer gives an explanation which is very relevant to current discussions about the meaning of intelligence, and about the power of intelligence tests:

In sum, the principle of logical equivalence or "description invariance" is a poor guide to understanding how human intelligence deals with an uncertain world where not everything is stated explicitly. It misses the very nature of intelligence, the ability to go beyond the information given (Bruner, 1973)

The key is to take uncertainty seriously, take heuristics seriously, and beware of the bias bias.

One important conclusion I draw from this entire paper is that the logical puzzles enjoyed by Kahneman, Tversky, Stanovich and others are rightly rejected by psychometricians as usually being poor indicators of real ability. They fail because they are designed to lead people up the garden path, and depend on idiosyncratic interpretations.

For more detail: http://www.unz.com/jthompson/the-tricky-question-of-rationality/

Critics of examinations of either intellectual ability or scholastic attainment are fond of claiming that the items are "arbitrary". Not really. Scholastic tests have to be close to the curriculum in question, but still need to a have question forms which are simple to understand so that the stress lies in how students formulate the answer, not in how they decipher the structure of the question.

Intellectual tests have to avoid particular curricula and restrict themselves to the common ground of what most people in a community understand. Questions have to be super-simple, so that the correct answer follows easily from the question, with minimal ambiguity. Furthermore, in the case of national scholastic tests, and particularly in the case of intelligence tests, legal authorities will pore over the test, looking at each item for suspected biases of a sexual, racial or socio-economic nature. Designing an intelligence test is a difficult and expensive matter. Many putative new tests of intelligence never even get to the legal hurdle, because they flounder on matters of reliability and validity, and reveal themselves to be little better than the current range of assessments.

In conclusion, both in psychology and behavioural economics, some researchers have probably been too keen to allege bias in cases where there are unsystematic errors, or no errors at all. The corrective is to learn about base rates, and to use natural frequencies as a guide to good decision-making.

Don't bother boosting your IQ. Boost your understanding of natural frequencies.


res , says: June 17, 2019 at 3:29 pm GMT

Good concrete advice. Perhaps even more useful for those who need to explain things like this to others than for those seeking to understand for themselves.
ThreeCranes , says: June 17, 2019 at 3:34 pm GMT
"intelligence deals with an uncertain world where not everything is stated explicitly. It misses the very nature of intelligence, the ability to go beyond the information given (Bruner, 1973)"

"The key is to take uncertainty seriously, take heuristics seriously, and beware of the bias bias."

Why I come to Unz.

Tom Welsh , says: June 18, 2019 at 8:36 am GMT
@Cortes Sounds fishy to me.

Actually I think this is an example of an increasingly common genre of malapropism, where the writer gropes for the right word, finds one that is similar, and settles for that. The worst of it is that readers intuitively understand what was intended, and then adopt the marginally incorrect usage themselves. That's perhaps how the world and his dog came to say "literally" when they mean "figuratively". Maybe a topic for a future article?

Biff , says: June 18, 2019 at 10:16 am GMT
In 2009 Google finished engineering a reverse search engine to find out what kind of searches people did most often. Seth Davidowitz and Steven Pinker wrote a very fascinating/entertaining book using the tool called Everybody Lies

https://www.goodreads.com/book/show/28512671-everybody-lies

Everybody Lies offers fascinating, surprising, and sometimes laugh-out-loud insights into everything from economics to ethics to sports to race to sex, gender, and more, all drawn from the world of big data. What percentage of white voters didn't vote for Barack Obama because he's black? Does where you go to school effect how successful you are in life? Do parents secretly favor boy children over girls? Do violent films affect the crime rate? Can you beat the stock market? How regularly do we lie about our sex lives, and who's more self-conscious about sex, men or women?

Investigating these questions and a host of others, Seth Stephens-Davidowitz offers revelations that can help us understand ourselves and our lives better. Drawing on studies and experiments on how we really live and think, he demonstrates in fascinating and often funny ways the extent to which all the world is indeed a lab. With conclusions ranging from strange-but-true to thought-provoking to disturbing, he explores the power of this digital truth serum and its deeper potential – revealing biases deeply embedded within us, information we can use to change our culture, and the questions we're afraid to ask that might be essential to our health – both emotional and physical. All of us are touched by big data every day, and its influence is multiplying. Everybody Lies challenges us to think differently about how we see it and the world.

dearieme , says: June 18, 2019 at 11:25 am GMT
I shall treat this posting (for which many thanks, doc) as an invitation to sing a much-loved song: everybody should read Gigerenzer's Reckoning with Risk. With great clarity it teaches what everyone ought to know about probability.

(It could also serve as a model for writing in English about technical subjects. Americans and Britons should study the English of this German – he knows how, you know.)

Inspired by "The original Slovic study was based on 39 college students" I shall also sing another favorite song. Much of Psychology is based on what small numbers of American undergraduates report they think they think.

Anon [410] • Disclaimer , says: June 18, 2019 at 3:47 pm GMT
" Gigerenzer points out that in this particular example, subjects are having to make their judgements without knowing a key fact: how many survive without surgery. "

This one reminds of the false dichotomy. The patient has additional options! Like changing diet, and behaviours such as exercise, elimination of occupational stress , etc.

The statistical outcomes for a person change when the person changes their circumstances/conditions.

Cortes , says: June 18, 2019 at 4:14 pm GMT
@Tom Welsh A disposition (conveyance) of an awkwardly shaped chunk out of a vast estate contained reference to "the slither of ground bounded on or towards the north east and extending two hundred and twenty four meters or thereby along a chain link fence " Not poor clients (either side) nor cheap lawyers. And who never erred?

Better than deliberately inserting "errors" to guarantee a stream of tidy up work (not unknown in the "professional" world) in future.

Tom Fix , says: June 18, 2019 at 4:25 pm GMT
Good article. 79% of gynaecologists fail a simple conditional probability test?! Many if not most medical research papers use advanced statistics. Medical doctors must read these papers to fully understand their field. So, if medical doctors don't fully understand them, they are not properly doing their job. Those papers use mathematical expressions, not English. Converting them to another form of English, instead of using the mathematical expressions isn't a solution.
SafeNow , says: June 18, 2019 at 5:49 pm GMT
Regarding witnesses: When that jet crashed into Rockaway several years ago, a high percentage of witnesses said that they saw smoke before the crash. But there was actually no smoke. The witnesses were adjusting what they saw to conform to their past experience of seeing movie and newsreel footage of planes smoking in the air before a crash. Children actually make very good witnesses.

Regarding the chart. Missing, up there in the vicinity of cancer and heart disease. The third-leading cause of death. 250,000 per year, according to a 2016 Hopkins study. Medical negligence.

Anon [724] • Disclaimer , says: June 18, 2019 at 9:48 pm GMT

1. Lack of rationality. Experiments have shown that people's intuitions are systematically biased.

2. Stubbornness. Like visual illusions, biases are persistent and hardly corrigible by education.

3. Substantial costs. Biases may incur substantial welfare-relevant costs such as lower wealth, health, or happiness.

4. Biases justify governmental paternalism. To protect people from theirbiases, governments should "nudge" the public toward better behavior.

Well the sad fact is that there's nobody in the position to protect "governments" from their own biases, and "scientists" from theirs.

So, behind the smoke of all words and rationalisations, the law is unchanged: everyone strives to gain and exert as much power as possible over as many others as possible. Most do that without writing papers to say it is right, others write papers, others books. Anyway, the fundamental law would stay as it is even if all this writing labour was spared, wouldn't it? But then another fundamental law, the law of framing all one's drives as moral and beneffective comes into play the papers and the books are useful, after all.

Curmudgeon , says: June 19, 2019 at 1:42 am GMT
An interesting article. However, I think that the only thing we have to know about how illogical psychiatry is this:

In 1973, the American Psychiatric Association (APA) asked all members attending its convention to vote on whether they believed homosexuality to be a mental disorder. 5,854 psychiatrists voted to remove homosexuality from the DSM, and 3,810 to retain it.

The APA then compromised, removing homosexuality from the DSM but replacing it, in effect, with "sexual orientation disturbance" for people "in conflict with" their sexual orientation. Not until 1987 did homosexuality completely fall out of the DSM.

(source https://www.psychologytoday.com/ca/blog/hide-and-seek/201509/when-homosexuality-stopped-being-mental-disorder )

The article makes no mention of the fact that no "new science" was brought to support the resolution.

It appears that the psychiatrists were voting based on feelings rather than science. Since that time, the now 50+ genders have been accepted as "normal" by the APA. My family has had members in multiple generations suffering from mental illness. None were "cured". I know others with the same circumstances.

How does one conclude that being repulsed by the prime directive of every living organism – reproduce yourself – is "normal"? That is not to say these people are horrible or evil, just not normal. How can someone, who thinks (s)he is a cat be mentally ill, but a grown man thinking he is a female child is not?

Long ago a lawyer acquaintance, referring to a specific judge, told me that the judge seemed to "make shit up as he was going along". I have long held psychiatry fits that statement very well.

Paul2 , says: June 19, 2019 at 8:08 am GMT
Thank you for this article. I find the information about the interpretation of statistical data very interesting. My take on the background of the article is this:

Here we have a real scientist fighting the nonsense spreading from (neoclassical) economics into other realms of science/academia.

Behavioral economics is a sideline by-product of neoclassical micro-economic theory. It tries to cope with experimental data that is inconsistent with that theory.

Everything in neoclassical economics is a travesty. "Rational choice theory" and its application in "micro economics" is false from the ground up. It basically assumes that people are gobbling up resources without plan, meaning or relevant circumstances. Neoclassical micro economic theory is so false and illogical that I would not know where to start in a comment, so I should like to refer to a whole book about it:
Keen, Steve: "Debunking economics".

As the theory is totally wrong it is really not surprising that countless experiments show that people do not behave the way neoclassical theory predicts. How do economists react to this? Of course they assume that people are "irrational" because they do not behave according to their studied theory. (Why would you ever change your basic theory because of some tedious facts?)

We live in a strange world in which such people have control over university faculties, journals, famous prizes. But at least we have some scientists who defend their area of knowledge against the spreading nonsense produced by economists.

The title of the 1st ed. of Keen's book was "Debunking Economics: The Naked Emperor of the Social Sciences" which was simply a perfect title.

Dieter Kief , says: June 19, 2019 at 8:22 am GMT
@Curmudgeon Could it be that you expect psychiatrists in the past to be as rational as you are now?

Would the result have been any different, if members of a 1973 convention of physicists or surgeons would have been asked?

[Jun 10, 2019] Are Bonds Peaking-Interest Rates Bottoming

Jun 10, 2019 | www.zerohedge.com

Bam_Man , 3 hours ago link

One year ago, EVERYBODY was a bond "bear", predicting a long string of rate hikes that would bring Fed Funds up to 4.50%.

They were ALL wrong. VERY wrong.

They are probably just as wrong now that they are bond "bulls".

Greenspazm , 1 hour ago link

No, if you use kimble charting technical analysis you will get very rich.

Bam_Man , 1 hour ago link

Undoubtedly.

[Jun 10, 2019] If ever there were a candidate who might be inclined to rethink our relationship with the Saudis, it's Buttigieg.

Notable quotes:
"... He would be given a lavish reception in Riyadh, where he would deliver a speech thanking our Saudi allies for leading the brave fight against "Iranian homophobia." ..."
Jun 10, 2019 | turcopolier.typepad.com

Timothy Hagios , 09 June 2019 at 01:49 PM

On the bright side, if ever there were a candidate who might be inclined to rethink our relationship with the Saudis, it's Buttigieg.

Oh, who am I kidding? He would be given a lavish reception in Riyadh, where he would deliver a speech thanking our Saudi allies for leading the brave fight against "Iranian homophobia."

[Jun 09, 2019] The looming 100-year US-China conflict by Martin Wolf

Highly recommended!
Notable quotes:
"... Across-the-board rivalry with China is becoming an organising principle of US economic, foreign and security policies. ..."
"... An effort to halt China's economic and technological rise is almost certain to fail. Worse, it will foment deep hostility in the Chinese people. In the long run, the demands of an increasingly prosperous and well-educated people for control over their lives might still win out. But that is far less likely if China's natural rise is threatened. ..."
"... The tragedy in what is now happening is that the administration is simultaneously launching a conflict between the two powers, attacking its allies and destroying the institutions of the postwar US-led order. ..."
Jun 04, 2019 | archive.fo
The disappearance of the Soviet Union left a big hole. The "war on terror" was an inadequate replacement. But China ticks all boxes. For the US, it can be the ideological, military and economic enemy many need. Here at last is a worthwhile opponent. That was the main conclusion I drew from this year's Bilderberg meetings.

Across-the-board rivalry with China is becoming an organising principle of US economic, foreign and security policies.

Whether it is Donald Trump's organizing principle is less important. The US president has the gut instincts of a nationalist and protectionist. Others provide both framework and details. The aim is US domination. The means is control over China, or separation from China.

Anybody who believes a rules-based multilateral order, our globalised economy, or even harmonious international relations, are likely to survive this conflict is deluded. The astonishing white paper on the trade conflict , published on Sunday by China, is proof. The -- to me, depressing -- fact is that on many points Chinese positions are right.

The US focus on bilateral imbalances is economically illiterate. The view that theft of intellectual property has caused huge damage to the US is questionable . The proposition that China has grossly violated its commitments under its 2001 accession agreement to the World Trade Organization is hugely exaggerated.

Martin Wolf chart on US/China

Accusing China of cheating is hypocritical when almost all trade policy actions taken by the Trump administration are in breach of WTO rules, a fact implicitly conceded by its determination to destroy the dispute settlement system .

The US negotiating position vis-à-vis China is that "might makes right". This is particularly true of insisting that the Chinese accept the US role as judge, jury and executioner of the agreement .

A dispute over the terms of market opening or protection of intellectual property might be settled with careful negotiation. Such a settlement might even help China, since it would lighten the heavy hand of the state and promote market-oriented reform.

But the issues are now too vexed for such a resolution. This is partly because of the bitter breakdown in negotiation. It is still more because the US debate is increasingly over whether integration with China's state-led economy is desirable. The fear over Huawei focuses on national security and technological autonomy.

[Neo]liberal commerce is increasingly seen as "trading with the enemy".

Martin Wolf chart on US/China

A framing of relations with China as one of zero-sum conflict is emerging. Recent remarks by Kiron Skinner, the US state department's policy planning director (a job once held by cold war strategist George Kennan) are revealing. Rivalry with Beijing, she suggested at a forum organised by New America , is "a fight with a really different civilisation and a different ideology, and the United States hasn't had that before".

She added that this would be "the first time that we will have a great power competitor that is not Caucasian". The war with Japan is forgotten.

But the big point is her framing of this as a civilizational and racial war and so as an insoluble conflict. This cannot be accidental. She is also still in her job. Others present the conflict as one over ideology and power.

Those emphasising the former point to President Xi Jinping's Marxist rhetoric and the reinforced role of the Communist party . Those emphasising the latter point to China's rising economic might. Both perspectives suggest perpetual conflict.

Martin Wolf chart on US/China

This is the most important geopolitical development of our era. Not least, it will increasingly force everybody else to take sides or fight hard for neutrality. But it is not only important. It is dangerous. It risks turning a manageable, albeit vexed, relationship into all-embracing conflict, for no good reason. China's ideology is not a threat to liberal democracy in the way the Soviet Union's was. Rightwing demagogues are far more dangerous.

An effort to halt China's economic and technological rise is almost certain to fail. Worse, it will foment deep hostility in the Chinese people. In the long run, the demands of an increasingly prosperous and well-educated people for control over their lives might still win out. But that is far less likely if China's natural rise is threatened.

Moreover, the rise of China is not an important cause of western malaise. That reflects far more the indifference and incompetence of domestic elites. What is seen as theft of intellectual property reflects, in large part, the inevitable attempt of a rising economy to master the technologies of the day. Above all, an attempt to preserve the domination of 4 per cent of humanity over the rest is illegitimate.

Martin Wolf chart on US/China

This certainly does not mean accepting everything China does or says. On the contrary, the best way for the west to deal with China is to insist on the abiding values of freedom, democracy, rules-based multilateralism and global co-operation. These ideas made many around the globe supporters of the US in the past.

They still captivate many Chinese people today. It is quite possible to uphold these ideas, indeed insist upon them far more strongly, while co-operating with a rising China where that is essential, as over protecting the natural environment, commerce and peace.

Martin Wolf chart on US/China

A blend of competition with co-operation is the right way forward. Such an approach to managing China's rise must include co-operating closely with like-minded allies and treating China with respect.

The tragedy in what is now happening is that the administration is simultaneously launching a conflict between the two powers, attacking its allies and destroying the institutions of the postwar US-led order.

Today's attack on China is the wrong war, fought in the wrong way, on the wrong terrain. Alas, this is where we now are.

[email protected]

[May 25, 2019] The Belligerence Of Empire by Kenn Orphan

Highly recommended!
Note Firefox does not pickup the user name in Zero hedge anymore. So user names in comments were omitted... BTW comments from Zerohedge reflect very well the level of frustration and confusion of common Americans with the neoliberal social system. Neoliberal elites clearly lost most of the legitimacy in 2016.
While this is pretty poignant critique of American empire it does not ask and answer the key question: "What's next?" The crisis of neoliberalism and the end of cheap oil probably will eventually crush the US led global empire and dollar as the reserve currency. Although it probably will be much slower and longer process then many expect.
Are we talking about 20, 40 or 80 years here?
But what is the alternative to the neoliberal and the US dominated global neolinberal empire established after dissolution of the USSR in 1991? That's the question.
Notable quotes:
"... Empire understands nothing except ruthless expansion. It has no other raison d'etre. In the past this meant the violent acquisition of lands and territories by a militarized system where [miliraty] caste was very apparent and visible. But today the dealings of empire are far more duplicitous. The ruling order of this age expands empire via the acquisition of capital while using the military industrial complex to police its exploits. But there is an insidious social conditioning at work which has led the general public to where it is today, a state of "inverted totalitarianism" as political philosopher Sheldon Wolin explained. Indeed, capitalism has morphed into the unassailable religion of the age even among the working class. Its tenets are still viewed as sacrosanct. ..."
"... There is mass compliance to the dictates of the ruling class and this occurs most often without any prompting or debate whatsoever. In this dictatorship of money the poor are looked at with ridicule and contempt, and are often punished legally for their imposed poverty. ..."
"... Most Americans still believe they live in the greatest country on the planet. They believe the American military to be noble and that they always reluctantly go into or are forced into war. Indeed, both the Democrats and Republicans possess an uncanny ability to bridge their ideological distances when it comes to defending US militarism, the Pentagon and the war machine of imperialism. But this is tied to the defense of capitalism, the ruling class, and the ultimate reason for war: the protection of that class's global capital investments. ..."
"... Today Iran and Venezuela are once again in the crosshairs of the American Empire's belligerence. Their defiance to the dominant [neoliberal] socioeconomic order will simply not be tolerated by the global ruling caste, represented as the unquestioned "interests" of the United States. ..."
"... To be sure the American Empire, which has seldom seen a year without pillage of another nation or region, is now facing its greatest nemesis. Unheeded lessons of the past have made it thoroughly inoculated to its own demise. In short, it is drunk on its hubris and unable to grapple with its inevitable descent. ..."
"... The American Empire, one of the shortest lived in human history, has become the biggest threat to humanity ..."
"... But like all empires it will eventually fall. Its endless and costly wars on behalf of capital investments and profiteering are contributing to that demise ..."
"... The US Republic has come and gone - the Empire is failing rapidly despite massive spending to support it. Cecil Rhodes and his heirs dreamed of restoring Anglo American domination of the world yet despite all of the technology employed the US is losing grip. By sheer numbers (and a far more efficient dictatorship) China is moving to a dominant role. ..."
"... In the end, the elite has no problem to rebrand themselves any color it needs to take to rule again, and become totalitarian state. As it becomes in the Soviet Union and China. ..."
"... Another blame America article that fails to mention the International Banksters. They have the finger-pointing thingy down to an art form. ..."
"... How do you begin to change that? Most Americans have been brainwashed and zombified by Hollywood and MSM into revering and lionizing the military without question. The sheer amount of waste in the MIC is not only negligent, but criminal. By the time the sheep awaken, the empire will have run out of their money to pillage. The beast of empire requires new victims to feed off in order to sustain - it devours entire nations, pilfers resources and murders people. Is this really what the founding fathers wanted? ..."
"... Precisely right. It's as if we've painted ourselves into the proverbial corner ..."
May 23, 2019 | www.counterpunch.org

" Capitalism's gratuitous wars and sanctioned greed have jeopardized the planet and filled it with refugees. Much of the blame for this rests squarely on the shoulders of the government of the United States. Seventeen years after invading Afghanistan, after bombing it into the 'stone age' with the sole aim of toppling the Taliban, the US government is back in talks with the very same Taliban. In the interim it has destroyed Iraq, Libya and Syria. Hundreds of thousands have lost their lives to war and sanctions, a whole region has descended into chaos, ancient cities -- pounded into dust."

– Arundhati Roy

"As naturally as the ruled always took the morality imposed upon them more seriously than did the rulers themselves, the deceived masses are today captivated by the myth of success even more than the successful are. Immovably, they insist on the very ideology which enslaves them. The misplaced love of the common people for the wrong which is done to them is a greater force than the cunning of the authorities. "

― Theodor Adorno, Dialectic of Enlightenment: Philosophical Fragments

"I spent thirty-three years and four months in active military service as a member of this country's most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle-man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism ."

― Smedley Butler, War is a Racket

"It is no longer a choice, my friends, between violence and nonviolence. It is either nonviolence or nonexistence. And the alternative to disarmament, the alternative to a greater suspension of nuclear tests, the alternative to strengthening the United Nations and thereby disarming the whole world, may well be a civilization plunged into the abyss of annihilation, and our earthly habitat would be transformed into an inferno that even the mind of Dante could not imagine."

-- Martin Luther King, Jr., Remaining Awake Through a Great Revolution, 31 March 1968

Empire understands nothing except ruthless expansion. It has no other raison d'etre. In the past this meant the violent acquisition of lands and territories by a militarized system where [miliraty] caste was very apparent and visible. But today the dealings of empire are far more duplicitous. The ruling order of this age expands empire via the acquisition of capital while using the military industrial complex to police its exploits. But there is an insidious social conditioning at work which has led the general public to where it is today, a state of "inverted totalitarianism" as political philosopher Sheldon Wolin explained. Indeed, capitalism has morphed into the unassailable religion of the age even among the working class. Its tenets are still viewed as sacrosanct.

Violence is the sole language of empire. It is this only currency it uses to enforce its precepts and edicts, both at home and abroad. Eventually this language becomes internalized within the psyche of the subjects. Social and cultural conditioning maintained through constant subtle messaging via mass media begins to mold the public will toward that of authoritarian conformity. The American Empire is emblematic of this process. There is mass compliance to the dictates of the ruling class and this occurs most often without any prompting or debate whatsoever. In this dictatorship of money the poor are looked at with ridicule and contempt, and are often punished legally for their imposed poverty.

But the social conditioning of the American public has led toward a bizarre allegiance to its ruling class oppressors. Propaganda still works here and most are still besotted with the notion of America being a bastion of "freedom and democracy." The growing gap between the ultra-wealthy and the poor and the gutting of civil liberties are ignored. And blind devotion is especially so when it comes to US foreign policy.

Most Americans still believe they live in the greatest country on the planet. They believe the American military to be noble and that they always reluctantly go into or are forced into war. Indeed, both the Democrats and Republicans possess an uncanny ability to bridge their ideological distances when it comes to defending US militarism, the Pentagon and the war machine of imperialism. But this is tied to the defense of capitalism, the ruling class, and the ultimate reason for war: the protection of that class's global capital investments.

The persecution of Chelsea Manning, much like the case of Julian Assange, is demonstrative of this. It is a crusade against truth tellers that has been applauded from both sides of the American establishment, liberal and conservative alike. It does not matter that she helped to expose American war crimes. On the contrary, this is seen as heresy to the Empire itself. Manning's crime was exposing the underbelly of the beast. A war machine which targeted and killed civilians and journalists by soldiers behind a glowing screen thousands of miles away, as if they were playing a video game.

Indeed, those deadened souls pulling the virtual trigger probably thought they were playing a video game since this is how the military seduced them to serve in their ranks in the first place. A kind of hypnotic, addictive, algorithmic tyranny of sorts. It is a form of escapism that so many young Americans are enticed by given their sad prospects in a society that has denuded the commons as well as their future. That it was a war based on lies against an impoverished nation already deeply weakened from decades of American led sanctions is inconsequential....

... ... ...

Today Iran and Venezuela are once again in the crosshairs of the American Empire's belligerence. Their defiance to the dominant [neoliberal] socioeconomic order will simply not be tolerated by the global ruling caste, represented as the unquestioned "interests" of the United States. The imposed suffering on these nations has been twisted as proof that they are now in need of American salvation in the form of even more crippling sanctions, coups, neoliberal austerity and military intervention. As the corporate vultures lie in wait for the next carcass of a society to feed upon, the hawks are busy building the case for the continuation and expansion of capitalist wars of conquest.

Bolton and Pompeo are now the equivalent of the generals who carved up Numidia for the wealthy families of ancient Rome, with Trump, the half-witted, narcissistic and cruel emperor, presiding over the whole in extremis farce. Indeed, the bloated orange Emperor issued the latest of his decrees in his usual banal fashion, via tweet:

"If Iran wants to fight, that will be the official end of Iran. Never threaten the United States again!"

One can query when Iran, or any other nation has ever "threatened" the United States, but that question will never be asked by the corporate press who are also in service to Empire. They are, in fact, its mouthpiece and advocate. The US has at least 900 military bases and colonial outposts scattered around the planet, yet this is never looked at as imperialistic in the least by the establishment, including its media. Scores of nations lie in ruins or are besieged with chaos and misery thanks to American bellicosity , from Libya to Iraq and beyond. But the US never looks back in regret at any of its multiple forays, not even a few years back.

To be sure the American Empire, which has seldom seen a year without pillage of another nation or region, is now facing its greatest nemesis. Unheeded lessons of the past have made it thoroughly inoculated to its own demise. In short, it is drunk on its hubris and unable to grapple with its inevitable descent.

... ... ...

American Empire knows no other language sans brutality, deceit and belligerence...

... ... ...

The American Empire, one of the shortest lived in human history, has become the biggest threat to humanity ...

But like all empires it will eventually fall. Its endless and costly wars on behalf of capital investments and profiteering are contributing to that demise . After all, billions of dollars are spent to keep the bloated military industrial complex afloat in service to the ruling class while social and economic safety nets are torn to shreds...

Comments from The Belligerence Of Empire Zero Hedge

9 hours ago

Nowadays the US has a massive military and little else. And "when the only tool you have is a hammer, every problem has to look like a nail" - Wesley Clark, Former US General.

14 hours ago

Twaddle. Capitalism has lifted out of poverty more people around the globe than all other "successful" systems combined; and in a fraction of the time. Education. Health. Wealth. Not to mention Arts and Sciences.

Go demand a refund for your liberal education. And stop spreading lies.

11 hours ago (Edited)

Poppycock! Capitalism has traded real sovereign wealth for fiat debt backed funny money at the barrel of a gun! You assholes have been forcing otherwise healthy communities into poverty for decades so you could steal their resources and molest their children! Why? Because children are the only people impressed by your tiny d!cks!

The white male gaze that drives child sex tourism Feelings of disempowerment lead to vulnerable families, children

The organization described the average sex tourist as a middle-aged white male from either Europe or North America who often goes online to find the " best deals. " One particular Web site promised "nights of sex with two young Thai girls for the price of a tank of gas."

Sowmia Nair, a Department of Justice agent, said the Thai government often "turns a blind eye" to child sex tourism because of the country's economic reliance on the tourist trade in general . He also said police officers are often corrupt.

" Police have been known to guard brothels and even procure children for prostitution," Nair said. "Some police directly exploit the children themselves."

A report from the International Bureau for Children's Rights said the majority of child prostitutes come from poor families in northern Thailand, referred to as the "hill tribes." With limited economic opportunities and bleak financial circumstances, these families, out of desperation, give their children to "recruiters," who promise them jobs in the city and then force the children into prostitution.

Sometimes families themselves even prostitute their children or sell them into the sex trade for a minuscule sum of money.

This is not by accident! This is by design!

14 hours ago

Capitalism has nothing to do with this. For the average American the empire is a losing proposition.

13 hours ago (Edited)

Empire good. Emperor bad. Kingdom good. King bad. Country good. President bad. Village good. Idiot bad.

13 hours ago (Edited)

Empire is cancer. Especially the present one that leaves a trail of failed states and antangonism in its wake.

16 hours ago

We are part of a scientific dictatorship - the 'Ultimate Revolution' Huxley spoke of in 1962 where the oppressed willingly submit to their enslavement. Social conditioning - promoted by continuous propaganda stressing that the state is their protector, reinforced by endless 'terrorist threats' to keep the masses fearful is but one part of the system.

The state no longer has to use threats and fear of punishment to keep the masses under control - the masses have been convinced that they are better off as slaves and serfs than they were as free men.

The US Republic has come and gone - the Empire is failing rapidly despite massive spending to support it. Cecil Rhodes and his heirs dreamed of restoring Anglo American domination of the world yet despite all of the technology employed the US is losing grip. By sheer numbers (and a far more efficient dictatorship) China is moving to a dominant role.

18 hours ago

Capitalism and corporatism are not the same. When corporate interests effectively wield gov power, you have corporatism, not Capitalism.

14 hours ago

Corporatism=Fascism.

18 hours ago 'Muricanism is the gee-gaw of the chattering classes.

18 hours ago (Edited)

The US is its own worst enemy. They have no idea what they are doing. 2008 – "Oh dear, the global economy just blew up" Its experts investigate and conclude it was a black swan.

https://cdn.opendemocracy.net/neweconomics/wp-content/uploads/sites/5/2017/04/Screen-Shot-2017-04-21-at-13.52.41.png

It is a black swan if you don't consider debt. They use neoclassical economics that doesn't consider debt.

They can't work out why inflation isn't coming back and the real economy isn't recovering faster.

Look at the debt over-hang that's still left after 2008 in the graph above, that's the problem. The repayment on debt to banks destroy money pushing the economy towards debt deflation.

QE can't enter the real economy as so many people are still loaded up with debt and there are too few borrowers.

QE can get into the markets inflating them and the US stock market is now at 1929 levels. They have created another asset price bubble that is ready to collapse leading to another financial crisis.

We need a new scientific economics for globalisation, got any ideas?

What if we just stick some complex maths on top of 1920s neoclassical economics?

No one will notice.

They didn't either, but it's still got all its old problems.

The 1920s roared with debt based consumption and speculation until it all tipped over into the debt deflation of the Great Depression. No one realised the problems that were building up in the economy as they used an economics that doesn't look at private debt, neoclassical economics.

What's the problem?

  1. The belief in the markets gets everyone thinking you are creating real wealth by inflating asset prices.
  2. Bank credit pours into inflating asset prices rather than creating real wealth (as measured by GDP) as no one is looking at the debt building up

1929 and 2008 look so similar because they are; it's the same economics and thinking.

https://cdn.opendemocracy.net/neweconomics/wp-content/uploads/sites/5/2017/04/Screen-Shot-2017-04-21-at-13.52.41.png

What was just a problem in the 1920s in the US is now global.

At 25.30 mins you can see the super imposed private debt-to-GDP ratios.

https://www.youtube.com/watch?v=vAStZJCKmbU&list=PLmtuEaMvhDZZQLxg24CAiFgZYldtoCR-R&index=6

The 1920s problem in the US is now everywhere, UK, US, Euro-zone, Japan and China.

20 hours ago (Edited)

Capitalism is based on darwinian economic competition driven by a desire to accumulate material wealth. When a capitalist becomes sufficiently rich, he can (and does) buy politicians and armies to do his bidding. Ironically, although capitalism is based on the assumption of competition, capitalists actually hate competition and harbor the urge to put competitors out of business. The true goal of a capitalists is monopoly-- as long as it is them.

Imperialism is a logical (and historically predictable) expansion of capitalism.

18 hours ago

Capitalism may not be the path to peace, but just about every other ism, including socialism and communism delivered worse.

Attacking capitalism for common failings is off base.

15 hours ago

Socialism and ultimately communism appear when capitalism goes rampant, and it is normal for the socium to embrace socialism when the inequality becomes too large.

In the end, the elite has no problem to rebrand themselves any color it needs to take to rule again, and become totalitarian state. As it becomes in the Soviet Union and China.

So don't mistake the people's desire for equal world with totalitarian capitalism masked as socialism.

14 hours ago

the real issue is NO GROUP OF HUMANS can be trusted will any form of power. ever. period.

so it goes that no "xyz"ism" will ever work out for the whole. yet humans are social animals and seek to be in groups governed by the very people that strive to lead that exhibit sociopathic tendencies, which are the worst possible leaders. how fuked up is that?

so how can that work? it does for a while. then we end up in the same spot every time, turmoil, the forth turning.

the luck of life is the period of time you live during, where and what stage of human turmoil the society is in...

21 hours ago (Edited)

" Capitalism's gratuitous wars and sanctioned greed have jeopardized the planet and filled it with refugees".

Capitalism did all that huh? It had nothing to do with corrupt politicians in bed with corporations and banks. Now they even have the military singing the same stupidity. Governments make these messes, not capitalism. Someone who risked their life for a corrupt government giving the pieces of **** that put him there a free pass by blaming it on capitalism. What a moron. When politicians hear this stupidity, it's like music to their ears. They know they've successfully shifted the blame to a simple ISM. Governments want to blame the very thing that will fix all of this, for the sake of self-preservation.

18 hours ago

Every system acts to centralise power, even anarchism. So you say it was wealth that enabled what was to follow but it was really power.. something every -ism will centralise and enable.

22 hours ago

Another blame America article that fails to mention the International Banksters. They have the finger-pointing thingy down to an art form.

16 hours ago

Really! Did you miss the Smedley Butler quote?

22 hours ago

Could you please distinguish between capitalism and political, monetary, fiscal, press, and legal aberrations that can occur in capitalist systems because of government sloth and malfeasance? Media monopoly, mass illegal immigration, and offshoring are not the essence of capitalism. And socialist systems can see hideous abuses.

Please read something more than **** and Jane adventures.

23 hours ago

"... is still the owner of the world's biggest nuclear arsenal."

===

Here is the list of all nine countries with nuclear weapons in descending order, starting with the country that has the most nuclear weapons at hand and ending with the country that has the least amount of nuclear weapons

http://worldpopulationreview.com/countries/countries-with-nuclear-weapons/

23 hours ago

It is now building a $100 million dollar drone base in Africa...

====

China 'negotiates military base' in Djibouti | News | Al Jazeera

https://www.aljazeera.com/news/africa/2015/05/150509084913175.html

China is negotiating a military base in a strategic port of Djibouti, the president said, according to the AFP news agency. The move raises the prospect of US and Chinese bases side-by-side in the ...

China May Consider These Countries For Its Next Overseas ...

https://www.forbes.com/sites/ralphjennings/2017/10/10/china-is-most-likely-to-open-future-military-bases-in-these-3-countries/

Oct 10, 2017 · China and the small African nation of Djibouti reached an agreement in July to let the People's Liberation Army establish up its first overseas military base there. The base on Africa's east ...

China is building its first military base in Africa . America ...

https://www.theweek.com/articles/598367/china-building-first-military-base-africa-america-should-nervous

China is building its first military base in Africa . America should be very nervous. ... In Africa , China has found not just a market for money but for jobs and land -- crucial components of ...

23 hours ago (Edited)

Oh noes! 1 base in Africa.....meanwhile the empire has 800 outposts around the world and despite that, like a snowflake, is bitching about China's one.

Isn't it fascinating how the Chinese do not find it necessary to resort to retarded regime change projects and stoopid kikery to "win" influence? Easy peasy. Methinks the Anglo-Zionists can learn a trick or two from China.

23 hours ago

The empire of 800 outposts is puny compared to the 1960's and 1970's. I can provide the information if you'd like. Almost all the 800 have company sized or smaller contingents. Still, I'd like to see much of it dismantled. No world Policeman.

23 hours ago

The entire world is in favor of a more peaceful planet Earth, except the military-industrial complex. Ron Paul

War puts money in their pockets. Lots of money. It's in the trillions of dollars.

23 hours ago (Edited)

How do you begin to change that? Most Americans have been brainwashed and zombified by Hollywood and MSM into revering and lionizing the military without question. The sheer amount of waste in the MIC is not only negligent, but criminal. By the time the sheep awaken, the empire will have run out of their money to pillage. The beast of empire requires new victims to feed off in order to sustain - it devours entire nations, pilfers resources and murders people. Is this really what the founding fathers wanted?

Now you know why wars happen. If "we the people" can't stop this beast, another nation's military will.

21 hours ago

@BH II

Precisely right. It's as if we've painted ourselves into the proverbial corner. The only way out of the morass is to find men of very high character to correctly lead the way out. America needs a Socrates.

[May 17, 2019] Shareholder Capitalism, the Military, and the Beginning of the End for Boeing

Highly recommended!
Notable quotes:
"... Like many of its Wall Street counterparts, Boeing also used complexity as a mechanism to obfuscate and conceal activity that is incompetent, nefarious and/or harmful to not only the corporation itself but to society as a whole (instead of complexity being a benign byproduct of a move up the technology curve). ..."
"... The economists who built on Friedman's work, along with increasingly aggressive institutional investors, devised solutions to ensure the primacy of enhancing shareholder value, via the advocacy of hostile takeovers, the promotion of massive stock buybacks or repurchases (which increased the stock value), higher dividend payouts and, most importantly, the introduction of stock-based pay for top executives in order to align their interests to those of the shareholders. These ideas were influenced by the idea that corporate efficiency and profitability were impinged upon by archaic regulation and unionization, which, according to the theory, precluded the ability to compete globally. ..."
"... "Return on Net Assets" (RONA) forms a key part of the shareholder capitalism doctrine. ..."
"... If the choice is between putting a million bucks into new factory machinery or returning it to shareholders, say, via dividend payments, the latter is the optimal way to go because in theory it means higher net returns accruing to the shareholders (as the "owners" of the company), implicitly assuming that they can make better use of that money than the company itself can. ..."
"... It is an absurd conceit to believe that a dilettante portfolio manager is in a better position than an aviation engineer to gauge whether corporate investment in fixed assets will generate productivity gains well north of the expected return for the cash distributed to the shareholders. But such is the perverse fantasy embedded in the myth of shareholder capitalism ..."
"... When real engineering clashes with financial engineering, the damage takes the form of a geographically disparate and demoralized workforce: The factory-floor denominator goes down. Workers' wages are depressed, testing and quality assurance are curtailed. ..."
May 17, 2019 | www.nakedcapitalism.com

The fall of the Berlin Wall and the corresponding end of the Soviet Empire gave the fullest impetus imaginable to the forces of globalized capitalism, and correspondingly unfettered access to the world's cheapest labor. What was not to like about that? It afforded multinational corporations vastly expanded opportunities to fatten their profit margins and increase the bottom line with seemingly no risk posed to their business model.

Or so it appeared. In 2000, aerospace engineer L.J. Hart-Smith's remarkable paper, sardonically titled "Out-Sourced Profits – The Cornerstone of Successful Subcontracting," laid out the case against several business practices of Hart-Smith's previous employer, McDonnell Douglas, which had incautiously ridden the wave of outsourcing when it merged with the author's new employer, Boeing. Hart-Smith's intention in telling his story was a cautionary one for the newly combined Boeing, lest it follow its then recent acquisition down the same disastrous path.

Of the manifold points and issues identified by Hart-Smith, there is one that stands out as the most compelling in terms of understanding the current crisis enveloping Boeing: The embrace of the metric "Return on Net Assets" (RONA). When combined with the relentless pursuit of cost reduction (via offshoring), RONA taken to the extreme can undermine overall safety standards.

Related to this problem is the intentional and unnecessary use of complexity as an instrument of propaganda. Like many of its Wall Street counterparts, Boeing also used complexity as a mechanism to obfuscate and conceal activity that is incompetent, nefarious and/or harmful to not only the corporation itself but to society as a whole (instead of complexity being a benign byproduct of a move up the technology curve).

All of these pernicious concepts are branches of the same poisoned tree: " shareholder capitalism ":

[A] notion best epitomized by Milton Friedman that the only social responsibility of a corporation is to increase its profits, laying the groundwork for the idea that shareholders, being the owners and the main risk-bearing participants, ought therefore to receive the biggest rewards. Profits therefore should be generated first and foremost with a view toward maximizing the interests of shareholders, not the executives or managers who (according to the theory) were spending too much of their time, and the shareholders' money, worrying about employees, customers, and the community at large. The economists who built on Friedman's work, along with increasingly aggressive institutional investors, devised solutions to ensure the primacy of enhancing shareholder value, via the advocacy of hostile takeovers, the promotion of massive stock buybacks or repurchases (which increased the stock value), higher dividend payouts and, most importantly, the introduction of stock-based pay for top executives in order to align their interests to those of the shareholders. These ideas were influenced by the idea that corporate efficiency and profitability were impinged upon by archaic regulation and unionization, which, according to the theory, precluded the ability to compete globally.

"Return on Net Assets" (RONA) forms a key part of the shareholder capitalism doctrine. In essence, it means maximizing the returns of those dollars deployed in the operation of the business. Applied to a corporation, it comes down to this: If the choice is between putting a million bucks into new factory machinery or returning it to shareholders, say, via dividend payments, the latter is the optimal way to go because in theory it means higher net returns accruing to the shareholders (as the "owners" of the company), implicitly assuming that they can make better use of that money than the company itself can.

It is an absurd conceit to believe that a dilettante portfolio manager is in a better position than an aviation engineer to gauge whether corporate investment in fixed assets will generate productivity gains well north of the expected return for the cash distributed to the shareholders. But such is the perverse fantasy embedded in the myth of shareholder capitalism.

Engineering reality, however, is far more complicated than what is outlined in university MBA textbooks. For corporations like McDonnell Douglas, for example, RONA was used not as a way to prioritize new investment in the corporation but rather to justify disinvestment in the corporation. This disinvestment ultimately degraded the company's underlying profitability and the quality of its planes (which is one of the reasons the Pentagon helped to broker the merger with Boeing; in another perverse echo of the 2008 financial disaster, it was a politically engineered bailout).

RONA in Practice

When real engineering clashes with financial engineering, the damage takes the form of a geographically disparate and demoralized workforce: The factory-floor denominator goes down. Workers' wages are depressed, testing and quality assurance are curtailed. Productivity is diminished, even as labor-saving technologies are introduced. Precision machinery is sold off and replaced by inferior, but cheaper, machines. Engineering quality deteriorates. And the upshot is that a reliable plane like Boeing's 737, which had been a tried and true money-spinner with an impressive safety record since 1967, becomes a high-tech death trap.

The drive toward efficiency is translated into a drive to do more with less. Get more out of workers while paying them less. Make more parts with fewer machines. Outsourcing is viewed as a way to release capital by transferring investment from skilled domestic human capital to offshore entities not imbued with the same talents, corporate culture and dedication to quality. The benefits to the bottom line are temporary; the long-term pathologies become embedded as the company's market share begins to shrink, as the airlines search for less shoddy alternatives.

You must do one more thing if you are a Boeing director: you must erect barriers to bad news, because there is nothing that bursts a magic bubble faster than reality, particularly if it's bad reality.

The illusion that Boeing sought to perpetuate was that it continued to produce the same thing it had produced for decades: namely, a safe, reliable, quality airplane. But it was doing so with a production apparatus that was stripped, for cost reasons, of many of the means necessary to make good aircraft. So while the wine still came in a bottle signifying Premier Cru quality, and still carried the same price, someone had poured out the contents and replaced them with cheap plonk.

And that has become remarkably easy to do in aviation. Because Boeing is no longer subject to proper independent regulatory scrutiny. This is what happens when you're allowed to " self-certify" your own airplane , as the Washington Post described: "One Boeing engineer would conduct a test of a particular system on the Max 8, while another Boeing engineer would act as the FAA's representative, signing on behalf of the U.S. government that the technology complied with federal safety regulations."

This is a recipe for disaster. Boeing relentlessly cut costs, it outsourced across the globe to workforces that knew nothing about aviation or aviation's safety culture. It sent things everywhere on one criteria and one criteria only: lower the denominator. Make it the same, but cheaper. And then self-certify the plane, so that nobody, including the FAA, was ever the wiser.

Boeing also greased the wheels in Washington to ensure the continuation of this convenient state of regulatory affairs for the company. According to OpenSecrets.org , Boeing and its affiliates spent $15,120,000 in lobbying expenses in 2018, after spending, $16,740,000 in 2017 (along with a further $4,551,078 in 2018 political contributions, which placed the company 82nd out of a total of 19,087 contributors). Looking back at these figures over the past four elections (congressional and presidential) since 2012, these numbers represent fairly typical spending sums for the company.

But clever financial engineering, extensive political lobbying and self-certification can't perpetually hold back the effects of shoddy engineering. One of the sad byproducts of the FAA's acquiescence to "self-certification" is how many things fall through the cracks so easily.

[May 13, 2019] Angry Bear Senate Democratic Jackasses and Elmer Fudd

Highly recommended!
Notable quotes:
"... Looks like Robert Mueller was a dirty cop hired to confirm fairy tales of Russian collusion peddled by a Clinton wing of Dems (DemoRats) sing Trump. And he enjoyed the full support of several intelligence agencies brass (especially FBI brass; initially Stzkok was one of his investigators) ..."
"... Before that Mueller was in charge of 9/11 and Anthrax scare investigations. So he is a card caring member of the neoliberal elite which converted the USA into what can be called the "National Security State" ..."
"... In order for a person to obstruct justice, there must be some justice to obstruct. Hence, if the alleged obstructer did not commit the underlying crime being investigated, then his so-called obstruction did not impair justice; it just impaired a fruitless investigation ..."
"... the USA squabble over Parteigenosse Mueller Final Report between two factions of neoliberal elite makes the USA a joke in the eyes of the whole world ..."
"... Hopefully, a more sound part of the USA elite, which Barr represents, will put some sand into those wheels. His decision to investigate the origin of Russiagate produced almost a heart attack for Pelosi. And the fact that he decided to skip his auto-da-fé at the House adds insult to injury. Poor Pelosi almost lost her mind. ..."
"... Out of democratic challengers IMHO only Tulsi Gabbard can probably attract a sizable faction of former Trump supporters and she is the most reviled, ignored, and slandered by DNC liberals and neocons alike candidate. ..."
"... The truth is that the color revolution against Donald Trump (a soft coup if you wish) failed. Now he badly needs to win in 2020 to avoid an indictment in NY State when he leaves the Presidency. It is just a matter of survival for him. ..."
"... Neoliberal Democrats will help him by putting their weakest pro-war candidate like the aged, apparently slightly demented neocon Joe Biden. With his rabid neoliberal past, neocon foreign policy past, Ukrainian skeletons in the closet and probably participation in the Obama administration dirty and criminal attempt to derail Trump using intelligence agencies as the leverage. ..."
"... Just like is the case with Boeing the situation for neoliberal democrats does not look promising. The world is starting to crash all around them. ..."
May 04, 2019 | angrybearblog.com

likbez, May 4, 2019 8:24 pm

The F.B.I. surveillance didn't come out until after the election. Therefore it couldn't impact the election. McConnell threatened to shriek "partisan politics!" if Obama said anything publicly about the Russian issue. Obama didn't. Claims of partisan behavior? Bullshit.

What about proven attempts of entrapments and inserting spies into Trump campaign?

Mifsud and Halper's stories come to mind (Halper's story has an interesting "seduction" subplot with undercover FBI informant Azra Turk). FBI and Justice Department brass acted as dirty mafia style politicians. McCabe and Brennan are two shining examples here. Probably guided personally by Obama, who being grown in a family of CIA operatives probably know this color revolutions "kitchen" all too well.

BTW Hillary did destroy evidence from her "bathroom server" while under subpoena.

Looks like Robert Mueller was a dirty cop hired to confirm fairy tales of Russian collusion peddled by a Clinton wing of Dems (DemoRats) sing Trump. And he enjoyed the full support of several intelligence agencies brass (especially FBI brass; initially Stzkok was one of his investigators)

Before that Mueller was in charge of 9/11 and Anthrax scare investigations. So he is a card caring member of the neoliberal elite which converted the USA into what can be called the "National Security State"

Which looks like classic Mussolini Italy with two guiding principles of jurisprudence applied to political enemies:

(1) To my friends, everything; to my enemies, the law (originated in 1933) .
(2) Show me the man, and I'll show you the crime (that actually comes from Stalinism period of the USSR, but the spirit is the same) .

It was actually Barr who saved Trump from obstruction of justice charge. He based his defense on the interpretation of the statuses the following (actually very elegant) way:

In order for a person to obstruct justice, there must be some justice to obstruct. Hence, if the alleged obstructer did not commit the underlying crime being investigated, then his so-called obstruction did not impair justice; it just impaired a fruitless investigation

Of course, that upset DemoRats who want President Pence to speed up the destruction of the USA and adding a couple of new wars to list the USA is involved.

Mueller was extremely sloppy and one-sided in writing his final report. Which is given taking into account his real task: to sink Trump. As Nunes aptly observed about his treatment of Mifsud as a Russian agent :

"If he is, in fact, a Russian agent, it would be one of the biggest intelligence scandals for not only the United States, but also our allies like the Italians and the Brits and others. Because if Mifsud is a Russian agent, he would know all kinds of our intelligence agents throughout the globe

likbez , May 4, 2019 10:11 pm

run75441,

Yes, of course, in the current neo-McCarthyism atmosphere merely passing the salt to a Russian guest at a dinner party makes you "an unregistered foreign agent" of Russia bent on implementing Putin's evil plans and colliding with Russian government ;-).

It looks like you are unable/unwilling to understand the logic behind my post. With all due respect, the situation is very dangerous -- when the neoliberal elite relies on lies almost exclusively as a matter of policy (look at Kamala Harris questioning Barr -- she is not stupid, she is an evil, almost taken from Orwell 1984, character), IMHO the neoliberal society is doomed. Sooner or later.

Currently, the USA squabble over Parteigenosse Mueller Final Report between two factions of neoliberal elite makes the USA a joke in the eyes of the whole world and Democrats look like Italian Fascists in 30th: a party hell-bent of dominance which does not care about laws or legitimacy one bit and can use entrapment and other dirty methods to achieve its goals.

Hopefully, a more sound part of the USA elite, which Barr represents, will put some sand into those wheels. His decision to investigate the origin of Russiagate produced almost a heart attack for Pelosi. And the fact that he decided to skip his auto-da-fé at the House adds insult to injury. Poor Pelosi almost lost her mind.

Neoliberals and neoconservatives joined ranks behind Russiagate and continue to push it because otherwise they need to be held accountable for all the related neoliberal disasters in the USA since 1980th including sliding standard of living, disappearance of "good" jobs, sky-high cost of university education and medical insurance, and the last but not least, Hillary fiasco.

Trump ran to the left of Clinton in foreign policy and used disillusionment of working close with neoliberal Democratic Party to his advantage promising jobs, end of outsourcing, end of uncontrolled immigration, and increased standard of living. He betrayed all those promises, but, still, that's why he won.

And that why the neoliberal establishment must present his election as de facto illegitimate, because otherwise they would be forced to admit that the bipartisan consensus around both financialization driven economics (casino capitalism) and imperial, war on terror based interventionism that are the foundation of the USA neoliberal elite politics since Clinton has been a disaster for most ordinary Americans -- of all political persuasions.

Out of democratic challengers IMHO only Tulsi Gabbard can probably attract a sizable faction of former Trump supporters and she is the most reviled, ignored, and slandered by DNC liberals and neocons alike candidate.

The truth is that the color revolution against Donald Trump (a soft coup if you wish) failed. Now he badly needs to win in 2020 to avoid an indictment in NY State when he leaves the Presidency. It is just a matter of survival for him.

Neoliberal Democrats will help him by putting their weakest pro-war candidate like the aged, apparently slightly demented neocon Joe Biden. With his rabid neoliberal past, neocon foreign policy past, Ukrainian skeletons in the closet and probably participation in the Obama administration dirty and criminal attempt to derail Trump using intelligence agencies as the leverage.

Just like is the case with Boeing the situation for neoliberal democrats does not look promising. The world is starting to crash all around them.

[Apr 28, 2019] Prisoners of Overwork A Dilemma by Peter Dorman

Highly recommended!
This is true about IT jobs. Probably even more then for lawyers. IT became plantation economy under neoliberalism.
Notable quotes:
"... mandatory overwork in professional jobs. ..."
"... The logical solution is some form of binding regulation. ..."
"... One place to start would be something like France's right-to-disconnect law . ..."
"... "the situation it describes is a classic prisoners dilemma." ..."
Apr 28, 2019 | angrybearblog.com

The New York Times has an illuminating article today summarizing recent research on the gender effects of mandatory overwork in professional jobs. Lawyers, people in finance and other client-centered occupations are increasingly required to be available round-the-clock, with 50-60 or more hours of work per week the norm. Among other costs, the impact on wage inequality between men and women is severe. Since women are largely saddled with primary responsibility for child care, even when couples ostensibly embrace equality on a theoretical level, the workaholic jobs are allocated to men. This shows up in dramatic differences between typical male and female career paths. The article doesn't discuss comparable issues in working class employment, but availability for last-minute changes in work schedules and similar demands are likely to impact men and women differentially as well.

What the article doesn't point out is that the situation it describes is a classic prisoners dilemma.* Consider law firms. They compete for clients, and clients prefer attorneys who are available on call, always prepared and willing to adjust to whatever schedule the client throws at them. Assume that most lawyers want sane, predictable work hours if they are offered without a severe penalty in pay. If law firms care about the well-being of their employees but also about profits, we have all the ingredients to construct a standard PD payoff matrix:

There is a penalty to unilateral cooperation, cutting work hours back to a work-life balance level. If your firm does it and the others don't, you lose clients to them.

There is a benefit to unilateral defection. If everyone else is cutting hours but you don't, you scoop up the lion's share of the clients.

Mutual cooperation is preferred to mutual defection. Law firms, we are assuming, would prefer a world in which overwork was removed from the contest for competitive advantage. They would compete for clients as before, but none would require their staff to put in soul-crushing hours. The alternative equilibrium, in which competition is still on the basis of the quality of work but everyone is on call 24/7 is inferior.

If the game is played once, mutual defection dominates. If it is played repeatedly there is a possibility for mutual cooperation to establish itself, but only under favorable conditions (which apparently don't exist in the world of NY law firms). The logical solution is some form of binding regulation.

The reason for bringing this up is that it strengthens the case for collective action rather than placing all the responsibility on individuals caught in the system, including for that matter individual law firms. Or, the responsibility is political, to demand constraints on the entire industry. One place to start would be something like France's right-to-disconnect law .

*I haven't read the studies by economists and sociologists cited in the article, but I suspect many of them make the same point I'm making here.

Sandwichman said...
"the situation it describes is a classic prisoners dilemma."

Now why didn't I think of that?

https://econospeak.blogspot.com/2016/04/zero-sum-foolery-4-of-4-wage-prisoners.html April 26, 2019 at 6:22 PM

[Apr 27, 2019] Why despite widespread criticism, neoliberalism remains the dominant politico-economic theory amongst policy-makers both in the USA and internationally

Highly recommended!
Apr 27, 2019 | angrybearblog.com

My reading is that the core psychological principle of neoliberalism, that life is an accumulation of moments of utility and disutility, is alive and well within certain sectors of the "left". A speech (or email or comment at a meeting) should be evaluated by how it makes us feel, and no one should have the right to make us feel bad.

Not sure about this "utility/disutility" dichotomy (probably you mean market fundamentalism -- belief that market ( and market mechanisms) is a self regulating, supernaturally predictive force that will guide human beings to the neoliberal Heavens), but, yes, neoliberalism infected the "left" and, especially, Democratic Party which was converted by Clinton into greedy and corrupt "DemoRats' subservient to Wall Street and antagonistic to the trade unions. And into the second War Party, which in certain areas is even more jingoistic and aggressive then Republicans (Obama color revolution in Ukraine is one example; Hillary Libya destruction is another; both were instrumental in unleashing the civil war on Syria and importing and arming Muslim fundamentalists to fight it).

It might make sense to view neoliberalism as a new secular religion which displaced Marxism on the world arena (and collapse of the USSR was in part the result of the collapse of Marxism as an ideology under onslaught of neoliberalism; although bribes of USSR functionaries and mismanagement of the economy due to over centralization -- country as a single gigantic corporation -- also greatly helped) .

Neoliberalism demonstrates the same level of intolerance (and actually series of wars somewhat similar to Crusades) as any monotheistic religion in early stages of its development. Because at this stage any adept knows the truth and to believe in this truth is to be saved; everything else is eternal damnation (aka living under "authoritarian regime" ;-) .

And so far there is nothing that will force the neoliberal/neocon Torquemadas to abandon their loaded with bombs jets as the tool of enlightenment of pagan states ;-)

Simplifying, neoliberalism can be viewed an a masterfully crafted, internally consistent amalgam of myths and pseudo theories (partially borrowed from Trotskyism) that justifies the rule of financial oligarchy and high level inequality in the society (redistribution of the wealth up). Kind of Trotskyism for the rich with the same idea of Permanent Revolution until global victory of neoliberalism.

That's why neoliberals charlatans like Hayek and Friedman were dusted off, given Nobel Prizes and promoted to the top in economics: they were very helpful and pretty skillful in forging neoliberal myths. Especially Hayek. A second rate economist who proved to be the first class theologian .

Promoting "neoliberal salvation" was critical for the achieving the political victory of neoliberalism in late 1979th and discrediting and destroying the remnants of the New Deal capitalism (already undermined at this time by the oil crisis)

Neoliberalism has led to the rise of corporate (especially financial oligarchy) power and an open war on labor. New Deal policies aimed at full employment and job security have been replaced with ones that aim at flexibility in the form of unstable employment, job loss and rising inequality.

This hypotheses helps to explain why neoliberalism as a social system survived after its ideology collapsed in 2008 -- it just entered zombie stage like Bolshevism after WWII when it became clear that it can't achieve higher standard of living for the population then capitalism.

Latest mutation of classic neoliberalism into "national neoliberalism" under Trump shows that it has great ability to adapt to the changing conditions. And neoliberalism survived in Russia under Putin and Medvedev as well, despite economic rape that Western neoliberals performed on Russia under Yeltsin with the help of Harvard mafia.

That's why despite widespread criticism, neoliberalism remains the dominant politico-economic theory amongst policy-makers both in the USA and internationally. All key global neoliberal global institutions, such as the G20, European Union, IMF, World bank, and WTO still survived intact and subscribe to neoliberalism. .

Neoliberalism has led to the rise of corporate (especially financial oligarchy) power and an open war on labor. New Deal policies aimed at full employment and job security have been replaced with ones that aim at flexibility in the form of unstable employment, job loss and rising inequality.

This hypotheses helps to explain why neoliberalism as a social system survived after its ideology collapsed in 2008 -- it just entered zombie stage like Bolshevism after WWII when it became clear that it can't achieve higher standard of living for the population then capitalism.

Latest mutation of classic neoliberalism into "national neoliberalism" under Trump shows that it has great ability to adapt to the changing conditions.

that's why despite widespread criticism, neoliberalism remains the dominant politico-economic theory amongst policy-makers both in the USA and internationally. All key global neoliberal global institutions, such as the G20, European Union, IMF, World bank, and WTO still survived intact and subscribe to neoliberalism. .

[Apr 03, 2019] The software's reengagement is what doomed everybody aboard Boeing Ethiopian Airlines Flight 302

Apr 03, 2019 | www.zerohedge.com

Flankspeed60 , 2 hours ago link

Never thought Boeing would make Tesla look like a bunch of geniuses...

[Apr 03, 2019] What We Can Learn From 1920s Germany by Brian E. Fogarty

Highly recommended!
Notable quotes:
"... As usually happens in times of distress, the Germans became a people for whom resolve was valued more highly than prudence, daring more than caution, and righteousness more than discretion. In many ways, they were a people not so different from today's Americans. ..."
"... What was needed, the Germans thought, was a strong leader -- someone who would put an end to politics as usual; most of all, someone who could unite all the divisions in Germany and dispel the clamor. They found that leader in Adolf Hitler, and for a time, most Germans were glad they did. ..."
"... How would we react if things got worse? If we were to lose the war in Iraq, leaving a fundamentalist regime in place; if we endured several more major terrorist attacks; if the economy collapsed; if fuel prices reached $7 per gallon -- would we cling even more fiercely to our democratic ideals? Or would we instead demand greater surveillance, more secret prisons, more arrests for "conspiracies" that amount to little more than daydreams, and more quashing of dissent? ..."
"... Our history suggests the latter. We Americans have had our flights from democracy -- the internment of Japanese-Americans in World War II, the Red Scare and the McCarthy era, Watergate -- but we have always pulled back from the brink and returned to normal. ..."
Apr 03, 2019 | www.commondreams.org

Imagine this situation: Your country has had a military setback in a war that was supposed to be over after a few months of "shock and awe." Because of that war, it has lost the goodwill and prestige of much of the international community.

The national debt has grown to staggering size. Citizens complain bitterly about the government, especially the legislative branch, for being a bunch of do-nothings working solely for themselves or for special interest groups. In fact, the political scene has pretty much lost its center -- moderates are attacked by all sides as the political discourse becomes a clamor of increasingly extreme positions.

It seems there are election campaigns going on all the time, and they are increasingly vicious. The politicians just want to argue about moral issues -- sexuality, decadent art, the crumbling family and the like -- while pragmatic matters of governance seem neglected.

Sound familiar? That society was Germany of the 1920s -- the ill-fated Weimar Republic. But it also describes more and more the political climate in America today.

Germans were worried about the future of their country. They suffered from all sorts of terror, as assassinations, coup attempts and crime pulled their society apart. The left blamed the right; the right blamed the left, and the political center simply dried up.

To get themselves out of the mess, Germans might have demanded government that carefully mended fences with its allies and enemies; one that judiciously hammered out compromises among the various political parties and sought the middle path.

But we know that didn't happen. In Germany of the 1920s, as now in 21st-century America, appeals to reason and prudence were no way to get votes in times of crisis. Much more effective were appeals to the anger and fear of the German people. A politician could attract more votes by criticizing the government than by praising it, and a vicious negative campaign was usually more effective than a clean one. One of the problems of democracy is that voters aren't always rational, and appeals like these could be very effective.

As usually happens in times of distress, the Germans became a people for whom resolve was valued more highly than prudence, daring more than caution, and righteousness more than discretion. In many ways, they were a people not so different from today's Americans.

What was needed, the Germans thought, was a strong leader -- someone who would put an end to politics as usual; most of all, someone who could unite all the divisions in Germany and dispel the clamor. They found that leader in Adolf Hitler, and for a time, most Germans were glad they did.

Of course, America is not 1920s Germany, and we are certainly not on the verge of a fascist state. But neither have we experienced the deep crises the Germans faced. The setbacks of the Iraq/Afghan war are a far cry from the devastating loss of the First World War; we are not considered the scourge of the international community, and we don't need wheelbarrows full of money to buy a loaf of bread. But even in these relatively secure times, we have shown an alarming willingness to choose headstrong leadership over thoughtful leadership, to value security over liberty; to accept compromises to constitutional principles, and to defy the opinion of the rest of the world.

How would we react if things got worse? If we were to lose the war in Iraq, leaving a fundamentalist regime in place; if we endured several more major terrorist attacks; if the economy collapsed; if fuel prices reached $7 per gallon -- would we cling even more fiercely to our democratic ideals? Or would we instead demand greater surveillance, more secret prisons, more arrests for "conspiracies" that amount to little more than daydreams, and more quashing of dissent?

Our history suggests the latter. We Americans have had our flights from democracy -- the internment of Japanese-Americans in World War II, the Red Scare and the McCarthy era, Watergate -- but we have always pulled back from the brink and returned to normal.

The time is coming for us to pull back from the brink again. This must happen before the government gets so strong that it can completely demonize opposition, gain complete control of the media, and develop dossiers on all its citizens. By then it will be too late, and we'll have ourselves to blame.

Brian E. Fogarty, a sociology professor at the College of St. Catherine in St. Paul, is the author of " War, Peace, and the Social Order ."

[Mar 25, 2019] Russiagate was never about substance, it was about who gets to image-manage the decline of a turbo-charged, self-harming neoliberal capitalism by Jonathan Cook

Highly recommended!
Notable quotes:
"... It may look like Russiagate was a failure, but it was actually a success. It deflected the left's attention from endemic corruption within the leadership of the Democratic party, which supposedly represents the left. It rechannelled the left's political energies instead towards the convenient bogeymen targets of Trump and Russian president Vladimir Putin. ..."
"... What Mueller found – all he was ever going to find – was marginal corruption in the Trump camp. And that was inevitable because Washington is mired in corruption. In fact, what Mueller revealed was the most exceptional forms of corruption among Trump's team while obscuring the run-of-the-mill stuff that would have served as a reminder of the endemic corruption infecting the Democratic leadership too. ..."
"... Further, in focusing on the Trump camp – and relative minnows like Paul Manafort and Roger Stone – the Russiagate inquiry actually served to shield the Democratic leadership from an investigation into the much worse corruption revealed in the content of the DNC emails. ..."
"... What should have been at the front and centre of any inquiry was how the Democratic party sought to rig its primaries to prevent party members selecting anyone but Hillary as their presidential candidate. ..."
"... Trump faces opposition from within the establishment not because he is "anti-establishment" but because he refuses to decorate the pig's snout with lipstick. He is tearing the mask off late-stage capitalism's greed and self-destructiveness ..."
"... The corporate media, and the journalists they employ, are propagandists – for a system that keeps them wealthy. When Trump was a Republican primary candidate, the entire corporate media loved him because he was TV's equivalent of clickbait, just as he had been since reality TV began to usurp the place of current affairs programmes and meaningful political debate. ..."
"... The "[neo]liberal" corporate media shares the values of the Democratic party leadership. In other words, it is heavily invested in making sure the pig doesn't lose its lipstick. By contrast, Fox News and the shock-jocks, like Trump, prioritise making money in the short term over the long-term credibility of a system that gives them licence to make money. They care much less whether the pig's face remains painted. ..."
"... Just as too many on the left sleep-walked through the past two years waiting for Mueller – a former head of the FBI, the US secret police, for chrissakes! – to save them from Trump, they have been manipulated by liberal elites into the political cul-de-sac of identity politics. ..."
"... The "[neo]liberal" elites exploited identity politics to keep us divided by pacifying the most maginalised with the offer of a few additional crumbs. Trump has exploited identity politics to keep us divided by inflaming tensions as he reorders the hierarchy of "privilege" in which those crumbs are offered. In the process, both wings of the elite have averted the danger that class consciousness and real solidarity might develop and start to challenge their privileges. ..."
"... Were the US to get its own Corbyn as president, he or she would undoubtedly face a Mueller-style inquiry, and one far more effective at securing the president's impeachment than this one was ever going to be. ..."
Mar 25, 2019 | www.counterpunch.org
Here are three important lessons for the progressive left to consider now that it is clear the inquiry by special counsel Robert Mueller into Russiagate is never going to uncover collusion between Donald Trump's camp and the Kremlin in the 2016 presidential election.

Painting the pig's face

The left never had a dog in this race. This was always an in-house squabble between different wings of the establishment. Late-stage capitalism is in terminal crisis, and the biggest problem facing our corporate elites is how to emerge from this crisis with their power intact. One wing wants to make sure the pig's face remains painted, the other is happy simply getting its snout deeper into the trough while the food lasts.

Russiagate was never about substance, it was about who gets to image-manage the decline of a turbo-charged, self-harming neoliberal capitalism.

The leaders of the Democratic party are less terrified of Trump and what he represents than they are of us and what we might do if we understood how they have rigged the political and economic system to their permanent advantage.

It may look like Russiagate was a failure, but it was actually a success. It deflected the left's attention from endemic corruption within the leadership of the Democratic party, which supposedly represents the left. It rechannelled the left's political energies instead towards the convenient bogeymen targets of Trump and Russian president Vladimir Putin.

Mired in corruption

What Mueller found – all he was ever going to find – was marginal corruption in the Trump camp. And that was inevitable because Washington is mired in corruption. In fact, what Mueller revealed was the most exceptional forms of corruption among Trump's team while obscuring the run-of-the-mill stuff that would have served as a reminder of the endemic corruption infecting the Democratic leadership too.

An anti-corruption investigation would have run much deeper and exposed far more. It would have highlighted the Clinton Foundation, and the role of mega-donors like James Simons, George Soros and Haim Saban who funded Hillary's campaign with one aim in mind: to get their issues into a paid-for national "consensus".

Further, in focusing on the Trump camp – and relative minnows like Paul Manafort and Roger Stone – the Russiagate inquiry actually served to shield the Democratic leadership from an investigation into the much worse corruption revealed in the content of the DNC emails. It was the leaking / hacking of those emails that provided the rationale for Mueller's investigations. What should have been at the front and centre of any inquiry was how the Democratic party sought to rig its primaries to prevent party members selecting anyone but Hillary as their presidential candidate.

So, in short, Russiagate has been two years of wasted energy by the left, energy that could have been spent both targeting Trump for what he is really doing rather than what it is imagined he has done, and targeting the Democratic leadership for its own, equally corrupt practices.

Trump empowered

But it's far worse than that. It is not just that the left wasted two years of political energy on Russiagate. At the same time, they empowered Trump, breathing life into his phony arguments that he is the anti-establishment president, a people's president the elites are determined to destroy.

Trump faces opposition from within the establishment not because he is "anti-establishment" but because he refuses to decorate the pig's snout with lipstick. He is tearing the mask off late-stage capitalism's greed and self-destructiveness. And he is doing so not because he wants to reform or overthrow turbo-charged capitalism but because he wants to remove the last, largely cosmetic constraints on the system so that he and his friends can plunder with greater abandon – and destroy the planet more quickly.

The other wing of the neoliberal establishment, the one represented by the Democratic party leadership, fears that exposing capitalism in this way – making explicit its inherently brutal, wrist-slitting tendencies – will awaken the masses, that over time it will risk turning them into revolutionaries. Democratic party leaders fear Trump chiefly because of the threat he poses to the image of the political and economic system they have so lovingly crafted so that they can continue enriching themselves and their children.

Trump's genius – his only genius – is to have appropriated, and misappropriated, some of the language of the left to advance the interests of the 1 per cent. When he attacks the corporate "liberal" media for having a harmful agenda, for serving as propagandists, he is not wrong. When he rails against the identity politics cultivated by "liberal" elites over the past two decades – suggesting that it has weakened the US – he is not wrong. But he is right for the wrong reasons.

TV's version of clickbait

The corporate media, and the journalists they employ, are propagandists – for a system that keeps them wealthy. When Trump was a Republican primary candidate, the entire corporate media loved him because he was TV's equivalent of clickbait, just as he had been since reality TV began to usurp the place of current affairs programmes and meaningful political debate.

The handful of corporations that own the US media – and much of corporate America besides – are there both to make ever-more money by expanding profits and to maintain the credibility of a political and economic system that lets them make ever more money.

The "[neo]liberal" corporate media shares the values of the Democratic party leadership. In other words, it is heavily invested in making sure the pig doesn't lose its lipstick. By contrast, Fox News and the shock-jocks, like Trump, prioritise making money in the short term over the long-term credibility of a system that gives them licence to make money. They care much less whether the pig's face remains painted.

So Trump is right that the "liberal" media is undemocratic and that it is now propagandising against him. But he is wrong about why. In fact, all corporate media – whether "liberal" or not, whether against Trump or for him – is undemocratic. All of the media propagandises for a rotten system that keeps the vast majority of Americans impoverished. All of the media cares more for Trump and the elites he belongs to than it cares for the 99 per cent.

Gorging on the main course

Similarly, with identity politics. Trump says he wants to make (a white) America great again, and uses the left's obsession with identity as a way to energize a backlash from his own supporters.

Just as too many on the left sleep-walked through the past two years waiting for Mueller – a former head of the FBI, the US secret police, for chrissakes! – to save them from Trump, they have been manipulated by liberal elites into the political cul-de-sac of identity politics.

Just as Mueller put the left on standby, into waiting-for-the-Messiah mode, so simple-minded, pussy-hat-wearing identity politics has been cultivated in the supposedly liberal bastions of the corporate media and Ivy League universities – the same universities that have turned out generations of Muellers and Clintons – to deplete the left's political energies. While we argue over who is most entitled and most victimised, the establishment has carried on raping and pillaging Third World countries, destroying the planet and siphoning off the wealth produced by the rest of us.

These liberal elites long ago worked out that if we could be made to squabble among ourselves about who was most entitled to scraps from the table, they could keep gorging on the main course.

The "[neo]liberal" elites exploited identity politics to keep us divided by pacifying the most maginalised with the offer of a few additional crumbs. Trump has exploited identity politics to keep us divided by inflaming tensions as he reorders the hierarchy of "privilege" in which those crumbs are offered. In the process, both wings of the elite have averted the danger that class consciousness and real solidarity might develop and start to challenge their privileges.

The Corbyn experience

3. But the most important lesson of all for the left is that support among its ranks for the Mueller inquiry against Trump was foolhardy in the extreme.

Not only was the inquiry doomed to failure – in fact, not only was it designed to fail – but it has set a precedent for future politicised investigations that will be used against the progressive left should it make any significant political gains. And an inquiry against the real left will be far more aggressive and far more "productive" than Mueller was.

If there is any doubt about that look to the UK. Britain now has within reach of power the first truly progressive politician in living memory, someone seeking to represent the 99 per cent, not the 1 per cent. But Jeremy Corbyn's experience as the leader of the Labour party – massively swelling the membership's ranks to make it the largest political party in Europe – has been eye-popping.

I have documented Corbyn's travails regularly in this blog over the past four years at the hands of the British political and media establishment. You can find many examples here.

Corbyn, even more so than the small, new wave of insurgency politicians in the US Congress, has faced a relentless barrage of criticism from across the UK's similarly narrow political spectrum. He has been attacked by both the rightwing media and the supposedly "liberal" media. He has been savaged by the ruling Conservative party, as was to be expected, and by his own parliamentary Labour party. The UK's two-party system has been exposed as just as hollow as the US one.

The ferocity of the attacks has been necessary because, unlike the Democratic party's success in keeping a progressive leftwinger away from the presidential campaign, the UK system accidentally allowed a socialist to slip past the gatekeepers. All hell has broken out ever since.

Simple-minded identity politics

What is so noticeable is that Corbyn is rarely attacked over his policies – mainly because they have wide popular appeal. Instead he has been hounded over fanciful claims that, despite being a life-long and very visible anti-racism campaigner, he suddenly morphed into an outright anti-semite the moment party members elected him leader.

I will not rehearse again how implausible these claims are. Simply look through these previous blog posts should you be in any doubt.

But what is amazing is that, just as with the Mueller inquiry, much of the British left – including prominent figures like Owen Jones and the supposedly countercultural Novara Media – have sapped their political energies in trying to placate or support those leading the preposterous claims that Labour under Corbyn has become "institutionally anti-semitic". Again, the promotion of a simple-minded identity politics – which pits the rights of Palestinians against the sensitivities of Zionist Jews about Israel – was exploited to divide the left.

The more the left has conceded to this campaign, the angrier, the more implacable, the more self-righteous Corbyn's opponents have become – to the point that the Labour party is now in serious danger of imploding.

A clarifying moment

Were the US to get its own Corbyn as president, he or she would undoubtedly face a Mueller-style inquiry, and one far more effective at securing the president's impeachment than this one was ever going to be.

That is not because a leftwing US president would be more corrupt or more likely to have colluded with a foreign power. As the UK example shows, it would be because the entire media system – from the New York Times to Fox News – would be against such a president. And as the UK example also shows, it would be because the leaderships of both the Republican and Democratic parties would work as one to finish off such a president.

In the combined success-failure of the Mueller inquiry, the left has an opportunity to understand in a much more sophisticated way how real power works and in whose favour it is exercised. It is moment that should be clarifying – if we are willing to open our eyes to Mueller's real lessons.

Jonathan Cook won the Martha Gellhorn Special Prize for Journalism. His latest books are " Israel and the Clash of Civilisations: Iraq, Iran and the Plan to Remake the Middle East" (Pluto Press) and " Disappearing Palestine: Israel's Experiments in Human Despair " (Zed Books). His website is http://www.jonathan-cook.net/

[Mar 19, 2019] "Monopoly" is such an ugly term.

Mar 19, 2019 | crookedtimber.org

Glen Tomkins 03.09.19 at 5:25 pm ( 2 )

"Monopoly" is such an ugly term. We prefer to call it "market power" these days, because of course it's a good thing if the job creators and their enterprises have more power to do all the good things they do for us.

It's clearly class warfare, if not racism, to use the term of abuse, "monopoly", when you mean "market power".

[Mar 06, 2019] The only real growth in the US -

Mar 06, 2019 | www.zerohedge.com

1. Opiates/Big Pharma

2. Redundancies

3. John Bolton's harelip cover

[Feb 26, 2019] Neoliberalism by Julie Wilson

Highly recommended!
The book adhere to "classic" line of critique of neoliberalism as a new "secular religion" ( the author thinking is along the lines of Gramsci idea of "cultural hegemony"; Gramsci did not use the term 'secular religion" at all, but this close enough concept) that deified the market. It stress the role of the state in enforcing the neoliberalism.
Oct 09, 2017 | www.amazon.com

skeptic on October 8, 2017

A solid book on neoliberal ideology and neoliberal rationality. Highly recommended

The book adhere to "classic" line of critique of neoliberalism as a new "secular religion" ( the author thinking is along the lines of Gramsci idea of "cultural hegemony"; Gramsci did not use the term 'secular religion" at all, but this is close enough concept) that deified the market. It stresses the role of the state in enforcing the neoliberal ideology much like was the case with Bolsheviks in the USSR:

Gramsci's question is still pressing: How and why do ordinary working folks come to accept a system where wealth is produced by their collective labors and energies but appropriated individually by only a few at the top? The theory of hegemony suggests that the answer to this question is not simply a matter of direct exploitation and control by the capitalist class. Rather, hegemony posits that power is maintained through ongoing, ever-shifting cultural processes of winning the consent of the governed, that is, ordinary people like you and me.

According to Gramsci, there was not one ruling class, but rather a historical bloc, "a moving equilibrium" of class interests and values. Hegemony names a cultural struggle for moral, social, economic, and political leadership; in this struggle, a field -- or assemblage -- of practices, discourses, values, and beliefs come to be dominant. While this field is powerful and firmly entrenched, it is also open to contestation. In other words, hegemonic power is always on the move; it has to keep winning our consent to survive, and sometimes it fails to do so.
Through the lens of hegemony, we can think about the rise of neoliberalism as an ongoing political project -- and class struggle -- to shift society's political equilibrium and create a new dominant field. Specifically, we are going to trace the shift from liberal to neoliberal hegemony. This shift is represented in the two images below.

Previous versions of liberal hegemony imagined society to be divided into distinct public and private spheres. The public sphere was the purview of the state, and its role was to ensure the formal rights and freedoms of citizens through the rule of law. The private sphere included the economy and the domestic sphere of home and family.

For the most part, liberal hegemony was animated by a commitment to limited government, as the goal was to allow for as much freedom in trade, associations, and civil society as possible, while preserving social order and individual rights. Politics took shape largely around the line between public and private; more precisely, it was a struggle over where and how to draw the line. In other words, within the field of liberal hegemony, politics was a question of how to define the uses and limits of the state and its public function in a capitalist society. Of course, political parties often disagreed passionately about where and how to draw that line. As we'll see below, many advocated for laissez-faire capitalism, while others argued for a greater public role in ensuring the health, happiness, and rights of citizens. What's crucial though is that everyone agreed that there was a line to be drawn, and that there was a public function for the state.

As Figure 1.1 shows, neoliberal hegemony works to erase this line between public and private and to create an entire society -- in fact, an entire world -- based on private, market competition. In this way, neoliberalism represents a radical reinvention of liberalism and thus of the horizons of hegemonic struggle. Crucially, within neoliberalism, the state's function does not go away; rather, it is deconstructed and reconstructed toward the new' end of expanding private markets.

This view correlates well with the analysis of Professor Wendy Brown book "Undoing the Demos" and her paper "Neoliberalism and the End of Liberal Democracy" (pdf is freely available)

In this sense neoliberalism are just "Trotskyism for the rich" with the same utopian dream of global neoliberal revolution, but much more sinister motives. And is as ruthless in achieving its goals, if necessary bring neoliberal "regime change" on the tips of bayonets, or via 'cultural revolutions".

If we follow the line of thinking put forward by Professor Philip Mirowski's in his book "Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown," we can say that neoliberals essentially "reverse-engineered" Bolsheviks methods of acquiring and maintaining political power, replacing "dictatorship of proletariat" with the "dictatorship of financial oligarchy".

I would say more: The "professional revolutionary" cadre that were the core of Bolshevik's Party were replaced with well paid, talented intellectual prostitutes at specially created neoliberal think tanks. And later "infiltrated" in economic departments (kind of stealth coup d'état in academia financed by usual financial players).

Which eventually created a critical mass of ideas which were able to depose New Deal Capitalism ideology, putting forward the set of remedies that restore the power the financial oligarchy enjoyed in 1920th. Technological changes such as invention of computers and telecommunication revolution also helped greatly.

At the same time unlike Bolsheviks, neoliberals are carefully hiding their agenda. Funny, neoliberalism is the only known to me major ideology which the US MSM are prohibited to mention by name ;-)

The role of state under neoliberalism is very close to the role of state under Bolsheviks' "dictatorship of proletariats". It no way this still a liberal democracy -- this is what Sheldon Wolin called "inverted totalitarism". Less brutal then Bolsheviks' regime, but still far from real democracy. Under neoliberalism the state is a powerful agent needed to enforce markets on unsuspecting population in all spheres of life, whether they want it or not (supported by 12" guns of neoliberal MSM battleships):

As Figure 1.1 shows, neoliberal hegemony works to erase this line between public and private and to create an entire society -- in fact, an entire world -- based on private, market competition. In this way, neoliberalism represents a radical reinvention of liberalism and thus of the horizons of hegemonic struggle. Crucially, within neoliberalism, the state's function does not go away; rather, it is deconstructed and reconstructed toward the new' end of expanding private markets. Consequently, contemporary politics take shape around questions of how best to promote competition. For the most part, politics on both the left and right have been subsumed by neoliberal hegemony. For example, while neoliberalism made its debut in Western politics with the right-wing administrations of Ronald Reagan and Margaret Thatcher, leaders associated with the left have worked to further neoliberal hegemony in stunning ways. As we will explore in more depth below and in die coming chapters, both U.S. presidents Bill Clinton and Barack Obama have governed to create a privatized, market society. In other words, there is both a left and a right hegemonic horizon of neoliberalism. Thus, moving beyond neoliberalism will ultimately require a whole new field of politics.

One of the most interesting part of the book is the brief analysis of the recent elections (with very precise characterization of Hillary Clinton defeat as the defeat of the "neoliberal status quo"). The author claims that Trump supporters were mainly representatives of the strata of the US society which were sick-and-tied of neoliberalism (note the percentage of Spanish speaking electorate who voted for Trump), but they were taken for a ride, as instead of rejection of globalism and free movement of labor, Trump actually represented more right wing, more bastardized version of "hard neoliberalism".

In the period which followed the elections Trump_vs_deep_state emerged as a kind of "neoliberalism in one country" -- much like Stalin's "socialism in one country". It and did not care one bit about those who voted for him during election . As in classic "The Moor has done his duty, the Moor can go."

So in a way Trump represents the mirror image of Obama who in the same way betrayed his votes (twice) acting from "soft neoliberalism" position, while Trump is acting from "hard neoliberalism" position.

On the other hand, we saw' the rise of the Tea Party, a right-wing response to the crisis. While the Tea Party was critical of status-quo neoliberalism -- especially its cosmopolitanism and embrace of globalization and diversity, which was perfectly embodied by Obama's election and presidency -- it was not exactly anti-neoliberal. Rather, it was anti-left neoliberalism-, it represented a more authoritarian, right [wing] version of neoliberalism.

Within the context of the 2016 election, Clinton embodied the neoliberal center that could no longer hold. Inequality. Suffering. Collapsing infrastructures. Perpetual war. Anger. Disaffected consent. There were just too many fissures and fault lines in the glossy, cosmopolitan world of left neoliberalism and marketized equality. Indeed, while Clinton ran on status-quo stories of good governance and neoliberal feminism, confident that demographics and diversity would be enough to win the election, Trump effectively tapped into the unfolding conjunctural crisis by exacerbating the cracks in the system of marketized equality, channeling political anger into his celebrity brand that had been built on saying "f*** you" to the culture of left neoliberalism (corporate diversity, political correctness, etc.) In fact, much like Clinton's challenger in the Democratic primary, Benie Sanders, Trump was a crisis candidate.
... ... ...

In other words, Trump supporters may not have explicitly voted for neoliberalism, but that's what they got. In fact, as Rottenberg argues, they got a version of right neoliberalism "on steroids" -- a mix of blatant plutocracy and authoritarianism that has many concerned about the rise of U.S. fascism.

We can't know what would have happened had Sanders run against Trump, but we can think seriously about Trump, right and left neoliberalism, and the crisis of neoliberal hegemony. In other words, we can think about where and how we go from here. As I suggested in the previous chapter, if we want to construct a new world, we are going to have to abandon the entangled politics of both right and left neoliberalism; we have to reject the hegemonic frontiers of both disposability and marketized equality. After all, as political philosopher Nancy Fraser argues, what was rejected in the election of 2016 was progressive, left neoliberalism.

While the rise of hyper-right neoliberalism is certainly nothing to celebrate, it does present an opportunity for breaking with neoliberal hegemony. We have to proceed, as Gary Younge reminds us, with the realization that people "have not rejected the chance of a better world. They have not yet been offered one."'

[Feb 26, 2019] THE CRISIS OF NEOLIBERALISM by Julie A. Wilson

Highly recommended!
Notable quotes:
"... While the Tea Party was critical of status-quo neoliberalism -- especially its cosmopolitanism and embrace of globalization and diversity, which was perfectly embodied by Obama's election and presidency -- it was not exactly anti-neoliberal. Rather, it was anti-left neoliberalism-, it represented a more authoritarian, right [wing] version of neoliberalism. ..."
"... Within the context of the 2016 election, Clinton embodied the neoliberal center that could no longer hold. Inequality. Suffering. Collapsing infrastructures. Perpetual war. Anger. Disaffected consent. ..."
"... Both Sanders and Trump were embedded in the emerging left and right responses to neoliberalism's crisis. Specifically, Sanders' energetic campaign -- which was undoubtedly enabled by the rise of the Occupy movement -- proposed a decidedly more "commongood" path. Higher wages for working people. Taxes on the rich, specifically the captains of the creditocracy. ..."
"... In other words, Trump supporters may not have explicitly voted for neoliberalism, but that's what they got. In fact, as Rottenberg argues, they got a version of right neoliberalism "on steroids" -- a mix of blatant plutocracy and authoritarianism that has many concerned about the rise of U.S. fascism. ..."
"... We can't know what would have happened had Sanders run against Trump, but we can think seriously about Trump, right and left neoliberalism, and the crisis of neoliberal hegemony. In other words, we can think about where and how we go from here. As I suggested in the previous chapter, if we want to construct a new world, we are going to have to abandon the entangled politics of both right and left neoliberalism; we have to reject the hegemonic frontiers of both disposability and marketized equality. After all, as political philosopher Nancy Fraser argues, what was rejected in the election of 2016 was progressive, left neoliberalism. ..."
"... While the rise of hyper-right neoliberalism is certainly nothing to celebrate, it does present an opportunity for breaking with neoliberal hegemony. We have to proceed, as Gary Younge reminds us, with the realization that people "have not rejected the chance of a better world. They have not yet been offered one."' ..."
Oct 08, 2017 | www.amazon.com

Quote from the book is courtesy of Amazon preview of the book Neoliberalism (Key Ideas in Media & Cultural Studies)

In Chapter 1, we traced the rise of our neoliberal conjuncture back to the crisis of liberalism during the late nineteenth and early twentieth centuries, culminating in the Great Depression. During this period, huge transformations in capitalism proved impossible to manage with classical laissez-faire approaches. Out of this crisis, two movements emerged, both of which would eventually shape the course of the twentieth century and beyond. The first, and the one that became dominant in the aftermath of the crisis, was the conjuncture of embedded liberalism. The crisis indicated that capitalism wrecked too much damage on the lives of ordinary citizens. People (white workers and families, especially) warranted social protection from the volatilities and brutalities of capitalism. The state's public function was expanded to include the provision of a more substantive social safety net, a web of protections for people and a web of constraints on markets. The second response was the invention of neoliberalism. Deeply skeptical of the common-good principles that undergirded the emerging social welfare state, neoliberals began organizing on the ground to develop a "new" liberal govemmentality, one rooted less in laissez-faire principles and more in the generalization of competition and enterprise. They worked to envision a new society premised on a new social ontology, that is, on new truths about the state, the market, and human beings. Crucially, neoliberals also began building infrastructures and institutions for disseminating their new' knowledges and theories (i.e., the Neoliberal Thought Collective), as well as organizing politically to build mass support for new policies (i.e., working to unite anti-communists, Christian conservatives, and free marketers in common cause against the welfare state). When cracks in embedded liberalism began to surface -- which is bound to happen with any moving political equilibrium -- neoliberals were there with new stories and solutions, ready to make the world anew.

We are currently living through the crisis of neoliberalism. As I write this book, Donald Trump has recently secured the U.S. presidency, prevailing in the national election over his Democratic opponent Hillary Clinton. Throughout the election, I couldn't help but think back to the crisis of liberalism and the two responses that emerged. Similarly, after the Great Recession of 2008, we've saw two responses emerge to challenge our unworkable status quo, which dispossesses so many people of vital resources for individual and collective life. On the one hand, we witnessed the rise of Occupy Wall Street. While many continue to critique the movement for its lack of leadership and a coherent political vision, Occupy was connected to burgeoning movements across the globe, and our current political horizons have been undoubtedly shaped by the movement's success at repositioning class and economic inequality within our political horizon. On the other hand, we saw' the rise of the Tea Party, a right-wing response to the crisis. While the Tea Party was critical of status-quo neoliberalism -- especially its cosmopolitanism and embrace of globalization and diversity, which was perfectly embodied by Obama's election and presidency -- it was not exactly anti-neoliberal. Rather, it was anti-left neoliberalism-, it represented a more authoritarian, right [wing] version of neoliberalism.

Within the context of the 2016 election, Clinton embodied the neoliberal center that could no longer hold. Inequality. Suffering. Collapsing infrastructures. Perpetual war. Anger. Disaffected consent. There were just too many fissures and fault lines in the glossy, cosmopolitan world of left neoliberalism and marketized equality. Indeed, while Clinton ran on status-quo stories of good governance and neoliberal feminism, confident that demographics and diversity would be enough to win the election, Trump effectively tapped into the unfolding conjunctural crisis by exacerbating the cracks in the system of marketized equality, channeling political anger into his celebrity brand that had been built on saying "f*** you" to the culture of left neoliberalism (corporate diversity, political correctness, etc.) In fact, much like Clinton's challenger in the Democratic primary, Benie Sanders, Trump was a crisis candidate.

Both Sanders and Trump were embedded in the emerging left and right responses to neoliberalism's crisis. Specifically, Sanders' energetic campaign -- which was undoubtedly enabled by the rise of the Occupy movement -- proposed a decidedly more "commongood" path. Higher wages for working people. Taxes on the rich, specifically the captains of the creditocracy.

Universal health care. Free higher education. Fair trade. The repeal of Citizens United. Trump offered a different response to the crisis. Like Sanders, he railed against global trade deals like NAFTA and the Trans-Pacific Partnership (TPP). However, Trump's victory was fueled by right neoliberalism's culture of cruelty. While Sanders tapped into and mobilized desires for a more egalitarian and democratic future, Trump's promise was nostalgic, making America "great again" -- putting the nation back on "top of the world," and implying a time when women were "in their place" as male property, and minorities and immigrants were controlled by the state.

Thus, what distinguished Trump's campaign from more traditional Republican campaigns was that it actively and explicitly pitted one group's equality (white men) against everyone else's (immigrants, women, Muslims, minorities, etc.). As Catherine Rottenberg suggests, Trump offered voters a choice between a multiracial society (where folks are increasingly disadvantaged and dispossessed) and white supremacy (where white people would be back on top). However, "[w]hat he neglected to state," Rottenberg writes,

is that neoliberalism flourishes in societies where the playing field is already stacked against various segments of society, and that it needs only a relatively small select group of capital-enhancing subjects, while everyone else is ultimately dispensable. 1

In other words, Trump supporters may not have explicitly voted for neoliberalism, but that's what they got. In fact, as Rottenberg argues, they got a version of right neoliberalism "on steroids" -- a mix of blatant plutocracy and authoritarianism that has many concerned about the rise of U.S. fascism.

We can't know what would have happened had Sanders run against Trump, but we can think seriously about Trump, right and left neoliberalism, and the crisis of neoliberal hegemony. In other words, we can think about where and how we go from here. As I suggested in the previous chapter, if we want to construct a new world, we are going to have to abandon the entangled politics of both right and left neoliberalism; we have to reject the hegemonic frontiers of both disposability and marketized equality. After all, as political philosopher Nancy Fraser argues, what was rejected in the election of 2016 was progressive, left neoliberalism.

While the rise of hyper-right neoliberalism is certainly nothing to celebrate, it does present an opportunity for breaking with neoliberal hegemony. We have to proceed, as Gary Younge reminds us, with the realization that people "have not rejected the chance of a better world. They have not yet been offered one."'

Mark Fisher, the author of Capitalist Realism, put it this way:

The long, dark night of the end of history has to be grasped as an enormous opportunity. The very oppressive pervasiveness of capitalist realism means that even glimmers of alternative political and economic possibilities can have a disproportionately great effect. The tiniest event can tear a hole in the grey curtain of reaction which has marked the horizons of possibility under capitalist realism. From a situation in which nothing can happen, suddenly anything is possible again.4

I think that, for the first time in the history of U.S. capitalism, the vast majority of people might sense the lie of liberal, capitalist democracy. They feel anxious, unfree, disaffected. Fantasies of the good life have been shattered beyond repair for most people. Trump and this hopefully brief triumph of right neoliberalism will soon lay this bare for everyone to see. Now, with Trump, it is absolutely clear: the rich rule the world; we are all disposable; this is no democracy. The question becomes: How will we show up for history? Will there be new stories, ideas, visions, and fantasies to attach to? How can we productively and meaningful intervene in the crisis of neoliberalism? How can we "tear a hole in the grey curtain" and open up better worlds? How can we put what we've learned to use and begin to imagine and build a world beyond living in competition? I hope our critical journey through the neoliberal conjuncture has enabled you to begin to answer these questions.

More specifically, in recent decades, especially since the end of the Cold War, our common-good sensibilities have been channeled into neoliberal platforms for social change and privatized action, funneling our political energies into brand culture and marketized struggles for equality (e.g., charter schools, NGOs and non-profits, neoliberal antiracism and feminism). As a result, despite our collective anger and disaffected consent, we find ourselves stuck in capitalist realism with no real alternative. Like the neoliberal care of the self, we are trapped in a privatized mode of politics that relies on cruel optimism; we are attached, it seems, to politics that inspire and motivate us to action, while keeping us living in competition.

To disrupt the game, we need to construct common political horizons against neoliberal hegemony. We need to use our common stories and common reason to build common movements against precarity -- for within neoliberalism, precarity is what ultimately has the potential to thread all of our lives together. Put differently, the ultimate fault line in the neoliberal conjiuicture is the way it subjects us all to precarity and the biopolitics of disposability, thereby creating conditions of possibility for new coalitions across race, gender, citizenship, sexuality, and class. Recognizing this potential for coalition in the face of precarization is the most pressing task facing those who are yearning for a new world. The question is: How do we get there? How do we realize these coalitional potentialities and materialize common horizons?

HOW WE GET THERE

Ultimately, mapping the neoliberal conjuncture through everyday life in enterprise culture has not only provided some direction in terms of what we need; it has also cultivated concrete and practical intellectual resources for political interv ention and social interconnection -- a critical toolbox for living in common. More specifically, this book has sought to provide resources for thinking and acting against the four Ds: resources for engaging in counter-conduct, modes of living that refuse, on one hand, to conduct one's life according to the norm of enterprise, and on the other, to relate to others through the norm of competition. Indeed, we need new ways of relating, interacting, and living as friends, lovers, workers, vulnerable bodies, and democratic people if we are to write new stories, invent new govemmentalities, and build coalitions for new worlds.

Against Disimagination: Educated Hope and Affirmative Speculation

We need to stop turning inward, retreating into ourselves, and taking personal responsibility for our lives (a task which is ultimately impossible). Enough with the disimagination machine! Let's start looking outward, not inward -- to the broader structures that undergird our lives. Of course, we need to take care of ourselves; we must survive. But I firmly believe that we can do this in ways both big and small, that transform neoliberal culture and its status-quo stories.

Here's the thing I tell my students all the time. You cannot escape neoliberalism. It is the air we breathe, the water in which we swim. No job, practice of social activism, program of self-care, or relationship will be totally free from neoliberal impingements and logics. There is no pure "outside" to get to or work from -- that's just the nature of the neoliberalism's totalizing cultural power. But let's not forget that neoliberalism's totalizing cultural power is also a source of weakness. Potential for resistance is everywhere, scattered throughout our everyday lives in enterprise culture. Our critical toolbox can help us identify these potentialities and navigate and engage our conjuncture in ways that tear open up those new worlds we desire.

In other words, our critical perspective can help us move through the world with what Henry Giroux calls educated hope. Educated hope means holding in tension the material realities of power and the contingency of history. This orientation of educated hope knows very well what we're up against. However, in the face of seemingly totalizing power, it also knows that neoliberalism can never become total because the future is open. Educated hope is what allows us to see the fault lines, fissures, and potentialities of the present and emboldens us to think and work from that sliver of social space where we do have political agency and freedom to construct a new world. Educated hope is what undoes the power of capitalist realism. It enables affirmative speculation (such as discussed in Chapter 5), which does not try to hold the future to neoliberal horizons (that's cruel optimism!), but instead to affirm our commonalities and the potentialities for the new worlds they signal. Affirmative speculation demands a different sort of risk calculation and management. It senses how little we have to lose and how much we have to gain from knocking the hustle of our lives.

Against De-democratization: Organizing and Collective Coverning

We can think of educated hope and affirmative speculation as practices of what Wendy Brown calls "bare democracy" -- the basic idea that ordinary' people like you and me should govern our lives in common, that we should critique and try to change our world, especially the exploitative and oppressive structures of power that maintain social hierarchies and diminish lives. Neoliberal culture works to stomp out capacities for bare democracy by transforming democratic desires and feelings into meritocratic desires and feelings. In neoliberal culture, utopian sensibilities are directed away from the promise of collective utopian sensibilities are directed away from the promise of collective governing to competing for equality.

We have to get back that democractic feeling! As Jeremy Gilbert taught us, disaffected consent is a post-democratic orientation. We don't like our world, but we don't think we can do anything about it. So, how do we get back that democratic feeling? How do we transform our disaffected consent into something new? As I suggested in the last chapter, we organize. Organizing is simply about people coming together around a common horizon and working collectively to materialize it. In this way, organizing is based on the idea of radical democracy, not liberal democracy. While the latter is based on formal and abstract rights guaranteed by the state, radical democracy insists that people should directly make the decisions that impact their lives, security, and well-being. Radical democracy is a practice of collective governing: it is about us hashing out, together in communities, what matters, and working in common to build a world based on these new sensibilities.

The work of organizing is messy, often unsatisfying, and sometimes even scary. Organizing based on affirmative speculation and coalition-building, furthermore, will have to be experimental and uncertain. As Lauren Berlant suggests, it means "embracing the discomfort of affective experience in a truly open social life that no

one has ever experienced." Organizing through and for the common "requires more adaptable infrastructures. Keep forcing the existing infrastructures to do what they don't know how to do. Make new ways to be local together, where local doesn't require a physical neighborhood." 5 What Berlant is saying is that the work of bare democracy requires unlearning, and detaching from, our current stories and infrastructures in order to see and make things work differently. Organizing for a new world is not easy -- and there are no guarantees -- but it is the only way out of capitalist realism.

Against Disposability: Radical Equality

Getting back democratic feeling will at once require and help us lo move beyond the biopolitics of disposability and entrenched systems of inequality. On one hand, organizing will never be enough if it is not animated by bare democracy, a sensibility that each of us is equally important when it comes to the project of determining our lives in common. Our bodies, our hurts, our dreams, and our desires matter regardless of our race, gender, sexuality, or citizenship, and regardless of how r much capital (economic, social, or cultural) we have. Simply put, in a radical democracy, no one is disposable. This bare-democratic sense of equality must be foundational to organizing and coalition-building. Otherwise, we will always and inevitably fall back into a world of inequality.

On the other hand, organizing and collective governing will deepen and enhance our sensibilities and capacities for radical equality. In this context, the kind of self-enclosed individualism that empowers and underwrites the biopolitics of disposability melts away, as we realize the interconnectedness of our lives and just how amazing it feels to

fail, we affirm our capacities for freedom, political intervention, social interconnection, and collective social doing.

Against Dispossession: Shared Security and Common Wealth

Thinking and acting against the biopolitics of disposability goes hand-in-hand with thinking and acting against dispossession. Ultimately, when we really understand and feel ourselves in relationships of interconnection with others, we want for them as we want for ourselves. Our lives and sensibilities of what is good and just are rooted in radical equality, not possessive or self-appreciating individualism. Because we desire social security and protection, we also know others desire and deserve the same.

However, to really think and act against dispossession means not only advocating for shared security and social protection, but also for a new society that is built on the egalitarian production and distribution of social wealth that we all produce. In this sense, we can take Marx's critique of capitalism -- that wealth is produced collectively but appropriated individually -- to heart. Capitalism was built on the idea that one class -- the owners of the means of production -- could exploit and profit from the collective labors of everyone else (those who do not own and thus have to work), albeit in very different ways depending on race, gender, or citizenship. This meant that, for workers of all stripes, their lives existed not for themselves, but for others (the appropriating class), and that regardless of what we own as consumers, we are not really free or equal in that bare-democratic sense of the word.

If we want to be really free, we need to construct new material and affective social infrastructures for our common wealth. In these new infrastructures, wealth must not be reduced to economic value; it must be rooted in social value. Here, the production of wealth does not exist as a separate sphere from the reproduction of our lives. In other words, new infrastructures, based on the idea of common wealth, will not be set up to exploit our labor, dispossess our communities, or to divide our lives. Rather, they will work to provide collective social resources and care so that we may all be free to pursue happiness, create beautiful and/or useful things, and to realize our potential within a social world of living in common. Crucially, to create the conditions for these new, democratic forms of freedom rooted in radical equality, we need to find ways to refuse and exit the financial networks of Empire and the dispossessions of creditocracy, building new systems that invite everyone to participate in the ongoing production of new worlds and the sharing of the wealth that we produce in common.

It's not up to me to tell you exactly where to look, but I assure you that potentialities for these new worlds are everywhere around you.

[Feb 16, 2019] MSM Begs For Trust After Buzzfeed Debacle by Caitlin Johnstone

Highly recommended!
Notable quotes:
"... This is the behavior of a media class that is interested in selling narratives, not reporting truth. And yet the mass media talking heads are all telling us today that we must continue to trust them. ..."
"... More accountability in media than in politics, Chuck? Really? Accountability to whom? Your advertisers? Your plutocratic owners? Certainly not to the people whose minds you are paid exorbitant sums to influence; there are no public elections for the leadership of the mass media. ..."
"... CNN, for the record, has been guilty of an arguably even more embarrassing Russiagate flub than Buzzfeed 's when they wrongly reported that Donald Trump Jr had had access to WikiLeaks' DNC email archives prior to their 2016 publication, an error that was hilariously due to to the simple misreading of an email date by multiple people ..."
"... The mass media, including pro-Trump mass media like Fox News, absolutely deserves to be distrusted. It has earned that distrust. It had earned that distrust already with its constant promotion of imperialist wars and an oligarch-friendly status quo, and it has earned it even more with its frenzied promotion of a narrative engineered to manufacture consent for a preexisting agenda to shove Russia off the world stage. ..."
"... The mainstream media absolutely is the enemy of the people; just because Trump says it doesn't mean it's not true. The only reason people don't rise up and use the power of their numbers to force the much-needed changes that need to happen in our world is because they are being propagandized to accept the status quo day in and day out by the mass media's endless cultural engineering project . ..."
"... They are the reason why wars go unopposed, why third parties never gain traction, why people consent to money hemorrhaging upward to the wealthiest of the wealthy while everyone else struggles to survive. The sooner people wake up from the perverse narrative matrix of the plutocratic media, the better. ..."
Jan 20, 2019 | www.zerohedge.com

Authored by Caitlin Johnstone via Medium.com,

Following what the Washington Post has described as "the highest-profile misstep yet for a news organization during a period of heightened and intense scrutiny of the press," mass media representatives are now flailing desperately for an argument as to why people should continue to place their trust in mainstream news outlets.

On Thursday Buzzfeed News delivered the latest "bombshell" Russiagate report to fizzle within 24 hours of its publication, a pattern that is now so consistent that I've personally made a practice of declining to comment on such stories until a day or two after their release. "BOOM!" tweets were issued by #Resistance pundits on Twitter, "If true this means X, Y and Z" bloviations were made on mass media punditry panels, and for about 20 hours Russiagaters everywhere were riding the high of their lives, giddy with the news that President Trump had committed an impeachable felony by ordering Michael Cohen to lie to Congress about a proposed Trump office tower in Moscow, a proposal which died within weeks and the Kremlin never touched .

There was reason enough already for any reasonable person to refrain from frenzied celebration, including the fact that the story's two authors, Jason Leopold and Anthony Cormier, were giving the press two very different accounts of the information they'd based it on, with Cormier telling CNN that he had not personally seen the evidence underlying his report and Leopold telling MSNBC that he had. Both Leopold and Cormier, for the record, have already previously suffered a Russiagate faceplant with the clickbait viral story that Russia had financed the 2016 election, burying the fact that it was a Russian election .

Then the entire story came crashing down when Mueller's office took the extremely rare step of issuing an unequivocal statement that the Buzzfeed story was wrong , writing simply, "BuzzFeed's description of specific statements to the special counsel's office, and characterization of documents and testimony obtained by this office, regarding Michael Cohen's congressional testimony are not accurate."

According to journalist and economic analyst Doug Henwood, the print New York Times covered the Buzzfeed report on its front page when the story broke, but the report on Mueller's correction the next day was shoved back to page 11 . This appalling journalistic malpractice makes it very funny that NYT's Wajahat Ali had the gall to tweet , "Unlike the Trump administration, journalists are fact checking and willing to correct the record if the Buzzfeed story is found inaccurate. Not really the actions of a deep state and enemy of the people, right?"

This is the behavior of a media class that is interested in selling narratives, not reporting truth. And yet the mass media talking heads are all telling us today that we must continue to trust them.

"Those trying to tar all media today aren't interested in improving journalism but protecting themselves," tweeted NBC's Chuck Todd.

"There's a lot more accountability in media these days than in our politics. We know we live in a glass house, we hope the folks we cover are as self aware."

More accountability in media than in politics, Chuck? Really? Accountability to whom? Your advertisers? Your plutocratic owners? Certainly not to the people whose minds you are paid exorbitant sums to influence; there are no public elections for the leadership of the mass media.

https://www.youtube.com/embed/rMY-zTxPCuY

"Mueller didn't do the media any favors tonight, and he did do the president one," griped the odious Chris Cuomo on CNN. "Because as you saw with Rudy Giuliani and as I'm sure you'll see with the president himself, this allows them to say 'You can't believe it! You can't believe what you read, you can't believe what you hear! You can only believe us. Even the Special Counsel says that the media doesn't get it right.'"

"The larger message that a lot of people are going to take from this story is that the news media are a bunch of leftist liars who are dying to get the president, and they're willing to lie to do it, and I don't think that's true" said Jeffrey Toobin on a CNN panel , adding "I just think this is a bad day for us."

"It does reinforce bad stereotypes about the news media," said Brian Stelter on the same CNN panel.

"I am desperate as a media reporter to always say to the audience, judge folks individually and judge brands individually. Don't fall for what these politicians out there want you to do. They want you to think we're all crooked. We're not. But Buzzfeed now, now the onus is on Buzzfeed. "

CNN, for the record, has been guilty of an arguably even more embarrassing Russiagate flub than Buzzfeed 's when they wrongly reported that Donald Trump Jr had had access to WikiLeaks' DNC email archives prior to their 2016 publication, an error that was hilariously due to to the simple misreading of an email date by multiple people.

The mass media, including pro-Trump mass media like Fox News, absolutely deserves to be distrusted. It has earned that distrust. It had earned that distrust already with its constant promotion of imperialist wars and an oligarch-friendly status quo, and it has earned it even more with its frenzied promotion of a narrative engineered to manufacture consent for a preexisting agenda to shove Russia off the world stage.

The mainstream media absolutely is the enemy of the people; just because Trump says it doesn't mean it's not true. The only reason people don't rise up and use the power of their numbers to force the much-needed changes that need to happen in our world is because they are being propagandized to accept the status quo day in and day out by the mass media's endless cultural engineering project .

They are the reason why wars go unopposed, why third parties never gain traction, why people consent to money hemorrhaging upward to the wealthiest of the wealthy while everyone else struggles to survive. The sooner people wake up from the perverse narrative matrix of the plutocratic media, the better.

* * *

The best way to get around the internet censors and make sure you see the stuff I publish is to subscribe to the mailing list for my website , which will get you an email notification for everything I publish. My articles are entirely reader-supported, so if you enjoyed this piece please consider sharing it around, liking me on Facebook , following my antics on Twitter , throwing some money into my hat on Patreon or Paypal , purchasing some of my sweet new merchandise , buying my new book Rogue Nation: Psychonautical Adventures With Caitlin Johnstone , or my previous book Woke: A Field Guide for Utopia Preppers .

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[Feb 13, 2019] MoA - Russiagate Is Finished

Highly recommended!
Notable quotes:
"... You can take this to the bank. Hardcore Russiagaters will never give up their belief in collusion and Russian influence in the 2016 campaign -- never. Congress and Mueller will be accused of engaging in a coverup. ..."
"... Thus, even if the Mueller report is underwhelming, I think that the Democrats and TDS-saturated Trump opponents will attempt to rehabilitate it by pretending that it contains important loose ends that need to be pursued. In other words, to perpetuate the Mueller-driven political Russophobia by all other available means. ..."
"... Russiagate has exposed the great degree of corruption within the Justice Department bureaucracy, particularly within FBI, and within the entire Democrat Party. ..."
"... Since this is obviously not going to be allowed to happen, and since these people get away with everything, expect this to never end, despite all evidence to the contrary. It doesn't matter if they've been exposed as CIA propagandists or Integrity Initiative stooges, the game goes on...and on.... the job security of these disgraced columnists is the greatest in the Western world. ..."
"... Stephen Cohen discusses how rational viewpoints are banned from the mainstream media, and how several features of US life today resemble some of the worst features of the Soviet system. https://www.counterpunch.org/2019/02/12/stephen-cohen-on-war-with-russia-and-soviet-style-censorship-in-the-us/ ..."
"... The US needs an enemy, how else can they ask NATO members to cough up 2% of GDP [just for one example Germany's GDP is nearly 4 Trillion dollars [2017] for defence spending, what a crazy sum all NATO members must fork out to please the US, but then most of that money must be spent on the US MIC 'interoperability' of course. ..."
"... Another great damage of Russiagate was the instigating of a nuclear arms race directed primarily at Russia, and ideologically justified by its diabolical policies. ..."
"... Russiagate was very successful. You just have to understand the objectives. It was a great distraction. Diverting peoples attention from the continued fleecing of the "real people" which are the bottom 90% by the "Corporate People" and their Government Lackeys. ..."
"... It provided an excuse for the acting CEO (a figurehead) of the Corporate Empire to go back on many of the promises made that got him elected, and to fill the swamp with Neocon and Koch Brother creatures with the excuse the Deep State made him do it. More proof that there is no deception that is too ridiculous to be believed so long as you have enough pundits claiming it to be so ..."
"... If you've done just a cursory look into Seth Rich, you'd be very suspicious about the story of his life and death. IMO Assange/Wikilleaks were set up. And Flynn was set up too. What they are doing is Orwellian: White Helmets, election manipulation, propaganda, McCarthism, etc. If you're not angry, you're not paying attention. ..."
"... See also this primer on Mueller's MO. ..."
"... The button pushers behind the Trump collusion and Russia election hacking false narratives got what they wanted: to walk the democrats and republicans straight into Cold War v2; to start their campaign to suppress alternative voices on the internet; to increase military spending; and more, more, more war. ..."
"... Russiagate was very successful <=pls read, re-read Pft @ 46.. he listed many things. divide and conquer accomplished. a nation state is defined as an armed rule making structure, designed by those who control a territory, and constructed by the lawyers, military, and wealthy and run by the persons the designers appoint, for the appointed are called politicians. ..."
"... At the beginnng of Russiagate, I wrote on Robert Parry's Consirtium News that Russiagate is Idiocracy piggy-backing on decades and literally billions of dollars of anti-Soviet and anti-Russian propaganda. How hard would it be to brainwash an already brainwashed population? ..."
"... The purveyors of Russiagate will re-compose themselves, brush off all reports and continue on. One just cannot get away from one's nature, even when that nature is pure idiocy. ..."
"... Russiagate will not go away unfortunately because it has evolved in the "Russiagate Industry". As mentioned by others, the Russiagate Industry has been very profitable for many industries and people. Russiagate has generated an entire cottage industry of companies around censorship and "find us a Russian". Dow Jones should have an index on the Russiagate Industry. ..."
Feb 12, 2019 | www.moonofalabama.org

For more than two years U.S. politicians, the media and some bloggers hyped a conspiracy theory. They claimed that Russia had somehow colluded with the Trump campaign to get him elected.

An obviously fake 'Dirty Dossier' about Trump, commissioned by the Clinton campaign, was presented as evidence. Regular business contacts between Trump flunkies and people in Ukraine or Russia were claimed to be proof for nefarious deals. A Russian click-bait company was accused of manipulating the U.S. electorate by posting puppy pictures and crazy memes on social media. Huge investigations were launched. Every rumor or irrelevant detail coming from them was declared to be - finally - the evidence that would put Trump into the slammer. Every month the walls were closing in on Trump.

https://www.youtube-nocookie.com/embed/qjUvfZj-Fm0

At the same time the very real Trump actions that hurt Russia were ignored.

Finally the conspiracy theory has run out of steam. Russiagate is finished :

After two years and 200 interviews, the Senate Intelligence Committee is approaching the end of its investigation into the 2016 election, having uncovered no direct evidence of a conspiracy between the Trump campaign and Russia, according to both Democrats and Republicans on the committee.
...
Democrats and other Trump opponents have long believed that special counsel Robert Mueller and Congressional investigators would unearth new and more explosive evidence of Trump campaign coordination with Russians. Mueller may yet do so, although Justice Department and Congressional sources say they believe that he, too, is close to wrapping up his investigation.

Nothing, zero, nada was found to support the conspiracy theory. The Trump campaign did not collude with Russia. A few flunkies were indicted for unrelated tax issues and for lying to the investigators about some minor details. But nothing at all supports the dramatic claims of collusion made since the beginning of the affair.

In a recent statement House leader Nancy Pelosi was reduced to accuse Trump campaign officials of doing their job:

"The indictment of Roger Stone makes clear that there was a deliberate, coordinated attempt by top Trump campaign officials to influence the 2016 election and subvert the will of the American people. ...

No one called her out for spouting such nonsense.

Russiagate created a lot of damage.

The alleged Russian influence campaign that never happened was used to install censorship on social media. It was used to undermine the election of progressive Democrats. The weapon salesmen used it to push for more NATO aggression against Russia. Maria Butina, an innocent Russian woman interested in good relation with the United States, was held in solitary confinement (recommended) until she signed a paper which claims that she was involved in a conspiracy.

In a just world the people who for more then two years hyped the conspiracy theory and caused so much damage would be pushed out of their public positions. Unfortunately that is not going to happen. They will jump onto the next conspiracy train continue from there.

Posted by b on February 12, 2019 at 01:38 PM | Permalink

Comments next page " Legally, Maria Butina was suborned into signing a false declaration. If there were the rule of law, such party or parties that suborned her would be in gaol. Considering Mueller's involvement with Lockerbie, I am not holding my breath. FWIW the Swiss company that made the timers allegedly involved in Lockerbie have some comments of its own .


james , Feb 12, 2019 2:00:14 PM | link

thanks b..

I will be really glad when this 'get Russia' craziness is over, but I suspect even if the Mueller investigation has nothing, all the same creeps will be pulling out the stops to generate something... Skripal, Integrity Initiative, and etc. etc. stuff like this just doesn't go away overnight or with the end of this 'investigation'... folks are looking for red meat i tell ya!

as for Maria Butina - i look forward to reading the article.. that was a travesty of justice but the machine moves on, mowing down anyone in it's way... she was on the receiving end of all the paranoia that i have come to associate with the western msm at this point...

Zanon , Feb 12, 2019 2:03:26 PM | link
Considering Mueller hasn't produced its report nor the House dito, its way to early to say Russia gate is "finished".
Jackrabbit , Feb 12, 2019 2:11:44 PM | link
And Russiagate was used ...
... by Hillary to justify her loss to Trump

Hillary's loss is actually best explained as her throwing the election to Trump . The Deep State wanted a nationalist to win as that would best help meet the challenge from Russia and China - a challenge that they had been slow to recognize.

=
... to smear Wikileaks as a Russian agent

The DNC leak is best explained as a CIA false flag.

=
... to remove and smear Michael Flynn

Trump said that he fired Flynn for lying to VP Pence but Flynn's conversations with the Russian Ambassador after Obama threw them out for "meddling" in the US election was an embarrassment to the Administration as Putin's Putin's decision not to respond was portrayed as favoritism toward the Trump Administration.

Rob , Feb 12, 2019 2:28:50 PM | link
You can take this to the bank. Hardcore Russiagaters will never give up their belief in collusion and Russian influence in the 2016 campaign -- never. Congress and Mueller will be accused of engaging in a coverup. This is typical behavior for conspiracy theorists.
bj , Feb 12, 2019 2:30:41 PM | link
Jimmy Dore on same: https://www.youtube.com/watch?v=kgBxfHdb4OU Enjoy!
Ort , Feb 12, 2019 2:34:14 PM | link
I hope that Russiagate is indeed "finished", but I think it needs to be draped with garlic-clove necklaces, shot up with silver bullets, sprinkled with holy water, and a wooden stake driven through its black heart just to make sure.

I don't dispute the logical argument B. presents, but it may be too dispassionately rational. I know that the Russiagate proponents and enthralled supporters of the concept are too invested psychologically in this surrealistic fantasy to let go, even if the official outcome reluctantly admits that there's no "there" there.

The Democratic Party, one of the major partners mounting the Russophobic psy-op, has already resolved to turn Democratic committee chairmen loose to dog the Trump administration with hearings aggressively flogging any and all matters that discredit and undermine Trump-- his business connections, social liaisons, etc.

They may hope to find the Holy Grail: the elusive "bombshell" that "demands" impeachment, i.e., some crime or illicit conduct so heinous that the public will stand for another farcical impeachment proceeding. But I reckon that the Dems prefer the "soft" impeachment of harassing Trump with hostile hearings in hopes of destroying his 2020 electability with the death of a thousand innuendoes and guilt-by-association.

Thus, even if the Mueller report is underwhelming, I think that the Democrats and TDS-saturated Trump opponents will attempt to rehabilitate it by pretending that it contains important loose ends that need to be pursued. In other words, to perpetuate the Mueller-driven political Russophobia by all other available means.

Put more succinctly, I fear that Russiagate won't be finished until Rachel Maddow says it's finished. ;)

worldblee , Feb 12, 2019 2:38:17 PM | link
Once a hypothesis is fixed in people's minds, whether true or not, it's hard to get them to let go of it. And let's not forget how many times the narrative changed (and this is true in the Skripal case as well), with all past facts vanishing to accommodate a new narrative.

So I, like others, expect the fake scandal to continue while many, many other real crimes (the US attempted coup in Venezuela and the genocidal war in Yemen, for instance) continue unabated.

karlof1 , Feb 12, 2019 2:43:34 PM | link
Putin solicits public input for essential national policy goals . If ever there was a template to follow for an actual MAGAgenda, Putin's Russia provides one. While US politicos argue over what is essentially Bantha Pudu, Russians are hard at work improving their nation which includes restructuring their economy.

Russiagate has exposed the great degree of corruption within the Justice Department bureaucracy, particularly within FBI, and within the entire Democrat Party.

BlunderOn , Feb 12, 2019 2:48:51 PM | link
mmm...

I very much doubt it it is over. Trump is corrupt and has links to corrupt Russians. Collusion, maybe not, but several stinking individuals are in the frame for, guess what - ...bring it on... The fact that Hilary was arguably even worse (a point made ad-nauseum on here) is frankly irrelevant. The vilification of Trump will not affect the warmongers efforts. He is a useful idiot

james , Feb 12, 2019 2:52:33 PM | link
for a take on the alternative reality some are living in emptywheel has an article up on the nbc link b provides and the article on butina is discussed in the comments section... as i said - they are looking for red meat and will not be happy until they get some... they are completely zonkers...
Blooming Barricade , Feb 12, 2019 2:55:18 PM | link
Now that this racket has been admitted as such, I expect all of the media outlets that devoted banner headlines, hundreds of thousands of hours of cable TV time, thousands of trees, and free speech online to immediately fire all of their journalists and appoint Glenn Greenwald as the publisher of the New York Times, Michael Tracey at the Post, Aaron Matte at the Guardian, and Max Blumenthal at the Daily Beast.

Since this is obviously not going to be allowed to happen, and since these people get away with everything, expect this to never end, despite all evidence to the contrary. It doesn't matter if they've been exposed as CIA propagandists or Integrity Initiative stooges, the game goes on...and on.... the job security of these disgraced columnists is the greatest in the Western world.

jayc , Feb 12, 2019 3:03:51 PM | link
Stephen Cohen discusses how rational viewpoints are banned from the mainstream media, and how several features of US life today resemble some of the worst features of the Soviet system. https://www.counterpunch.org/2019/02/12/stephen-cohen-on-war-with-russia-and-soviet-style-censorship-in-the-us/
Heath , Feb 12, 2019 3:18:29 PM | link
It turned out getting rid of the Clintons has been a long term project.
Harry Law , Feb 12, 2019 3:21:58 PM | link
The US needs an enemy, how else can they ask NATO members to cough up 2% of GDP [just for one example Germany's GDP is nearly 4 Trillion dollars [2017] for defence spending, what a crazy sum all NATO members must fork out to please the US, but then most of that money must be spent on the US MIC 'interoperability' of course.

Then of course Russia has to be surrounded by NATO should they try and take over Europe by surging through the Fulda gap./s

Then of course there are the professional pundits who have built careers on anti Russian propaganda, Rachel Maddow for instance who earns 30,000$ per day to spew anti Russian nonsense.

folktruther , Feb 12, 2019 3:27:32 PM | link
Another great damage of Russiagate was the instigating of a nuclear arms race directed primarily at Russia, and ideologically justified by its diabolical policies.

I'm sorry b is so down on Conspiracy Theories, since they reveal quite real staged homicidal false flag operations of US power. Feeding into the stigmatizing of the truth about reality is not in the interests of the earth's people.

frances , Feb 12, 2019 3:31:11 PM | link
somehow I see this "revelation: tied to Barr's approaching tenure. I think they (FBI/DOJ) didn't want his involvement in their noodle soup of an investigation and the best way to accomplish that was to end it themselves. I also suspect that a deal has been made with Trump, possibly in exchange for leaving his family alone.

So we will see no investigation of Hillary, her 650,000 emails or the many crimes they detailed (according to NYPD investigation of Weiner's laptop) and the US will continue to be at war all day, every day. Team Swamp rules.

Ash , Feb 12, 2019 3:35:06 PM | link
Meanwhile, MSM is prepping its readers for the possibility that the Mueller report will never be released to us proles. If that's the case, I'm sure nobody will try to use innuendo to suggest it actually contains explosive revelations after all...
Heath , Feb 12, 2019 3:38:37 PM | link
@16

Harry, its vitally important as the US desperately wants to keep Europe under its thumb and to stop this European army which means Europe lead by Paris and Berlin becomes a world power. Trump's attempts to make nice with Russia is to keep it out of the EU bloc.

Anne Jaclard , Feb 12, 2019 3:54:47 PM | link
Well, the liberal conspiracy car crash ensured downmarket Mussolini a second term, it appears...Hard Brexit Tories also look likely to win thanks to centrist sabatoge of the left. You reap what you sow, corporate presstitutes!
wagelaborer , Feb 12, 2019 4:05:25 PM | link
Sane people have predicted the end of Russiagate almost as many times as insane people have predicted that the "smoking gun that will get rid of Trump" has been found. And yet the Mighty Wurlitzer grinds on, while social media is more and more censored.

I expect it all to continue until the 2020 election circus winds up into full-throated mode, and no one talks about anything but the next puppet to be appointed. Oops, I mean "elected".

Jen , Feb 12, 2019 4:15:57 PM | link
Ort @ 7:

You also need to behead the corpse, stuff the mouth with a lemon and then place the head down in the coffin with the body in supine (facing up) position. Weight the coffin with stones and wild roses and toss it into a fast-flowing river.

Russiagate won't be finished until a wall is built around Capitol Hill and all its inhabitants and worker bees declared insane by a properly functioning court of law.

Jackrabbit , Feb 12, 2019 4:16:59 PM | link
frances @18:
I also suspect that a deal has been made with Trump, possibly in exchange for leaving his family alone. So we will see no investigation of Hillary ...
Underlying your perspective is the assumption that USA is a democracy where a populist "outsider" could be elected President, Yet you also believe that Hillary and the Deep State have the power to manipulate government and the intelligence agencies and propose a "conspiracy theory" based on that power.

Isn't it more likely that Trump made it clear (behind closed doors, of course) that he was amenable to the goals of the Deep State and that the bogus investigation was merely done to: 1) cover their own election meddling; 2) eliminate threats like Flynn and Assange/Wikileaks; 3) anti-Russian propaganda?

Jackrabbit , Feb 12, 2019 4:33:16 PM | link
Jen

Steven Cohen once lamented that there were no "wise men" left in foreign policy. All the independent realists were shut out.

Michael McNulty , Feb 12, 2019 4:49:32 PM | link
US anti-Russian hysteria is moving into that grey area beyond McCarthyism approaching Nazism.
Circe , Feb 12, 2019 4:58:40 PM | link
Dowd, Trump's former lawyer on Russiagate stated there may not even be a report. If this is the case then the Zionist rulers have gotten to Mueller who no doubt figured out that the election collusion breadcrumbs don't lead to Putin, they lead to Netanyahu and Zionist billionaire friends! So Mueller may have to come up with a nothing burger to hide the truth.
Danny , Feb 12, 2019 5:02:34 PM | link
B is the only alternative media blogger I've followed for a significant amount of time without becoming disenfranchised. Not because he has no blind spot - his is just one I can deal with... optimism.

hopehely , Feb 12, 2019 5:14:49 PM | link

I will believe Russiagate is finished when expelled Russian staff gets back, when the US returns the seized Russian properties, when the consulate is Seattle reopens and when USA issues formal apology to Russia.

Posted by: hopehely | Feb 12, 2019 5:14:49 PM | link

bevin , Feb 12, 2019 5:16:18 PM | link
Nobody has ever advanced the tiniest shred of credible evidence that 'Russia' or its government at any level was in any way implicated either in Wikileaks' acquisition of the DNC and Podesta emails or in any form of interference with the Presidential election.

This has been going on for three years and not once has anything like evidence surfaced.

On the other hand there has been an abundance of evidence that those alleging Russian involvement consistently refused to listen to explore the facts.

Incredibly, the DNC computers were never examined by the FBI or any other agency resembling an official police agency. Instead the notorious Crowdstrike professionally russophobic and caught red handed faking data for the Ukrainians against Russia were commissioned to produce a 'report.'

Nobody with any sense would have credited anything about Russiagate after that happened.

Thgen there was the proof, from VIPS and Bill Binney (?) that the computers were not hacked at all but that the information was taken by thumbdrive. A theory which not only Wikileaks but several witnesses have offered to prove.

Not one of them has been contacted by the FBI, Mueller or anyone else "investigating."

In reality the charges from the first were ludicrous on their face. There is, as b has proved and every new day's news attests, not the slightest reason why anyone in the Russian government should have preferred Trump over Clinton. And that is saying something because they are pretty well indistinguishable. And neither has the morals or brains of an adolescent groundhog.

Russiagate is over, alright, The Nothingburger is empty. But that means nothing in this 'civilisation': it will be recorded in the history books, still to be written, by historians still in diapers, that "The 2016 Presidential election, which ended in the controversial defeat of Hillary Clinton, was heavily influenced by Russian agents who hacked ..etc etc"

What will not be remembered is that every single email released was authentic. And that within those troves of correspondence there was enough evidence of criminality by Clinton and her campaign to fill a prison camp.

Another thing that will not be recalled is that there was once a young enthusiastic man, working for the DNC, who was mugged one evening after work and killed.

Baron , Feb 12, 2019 5:16:49 PM | link
The 'no collusion' result will only spur the 'beginning of the end' baboons to shout even more, they'll never stop until they die in their beds or the plebs of the Republic made them adore the street lamp posts, you'll see. The former is by far more likely, the unwashed of American have never had a penchant for foreign affairs except for the few spasms like Vietnam.
Circe , Feb 12, 2019 5:20:11 PM | link
There was collusion alright but the only Russians who helped Trump get elected and were in on the collusion are citizens of ISRAEL FIRST, likewise for the American billionaires who put Trump in the power perch. ISRAEL FIRST.

That's why Trump is on giant billboards in Israel shaking hands with the Yahoo. Trump is higher in the polls in Israel than in the U.S. If it weren't that the Zionist upper crust need Trump doing their dirty work in America, like trying today get rid of Rep. Omar Ilhan, then Trump would win the elections in Ziolandia or Ziostan by a landslide cause he's been better for the Joowish state than all preceding Presidents put together. Mazel tov to them bullshet for the rest of us servile mass in the vassal West and Palestinians the most shafted class ever. Down with Venezuela and Iran, up with oil and gas. The billionare shysters' and Trump's payola is getting closer. Onward AZ Empire!

Les , Feb 12, 2019 5:24:36 PM | link
He proved himself so easy to troll during the election. It wouldn't surprise me if aim of the domestic intelligence agencies all along was to get him elected and have a candidate they could manipulate.
Zachary Smith , Feb 12, 2019 5:38:03 PM | link
@ Harry Law #16

At least Germany has the good sense not to throw taxpayer money at the F-35. German F-35 decision sacrifices NATO capability for Franco-German industrial cooperation I don't know what they have in mind with a proposed airplane purchase. If they need fighters, buy or lease Sweden's Gripen. If attack airplanes are what they're after, go to Boeing and get some brand new F-15X models. If the prickly French are agreeable to build a 6th generation aircraft, that would be worth a try.

Regarding Rachel Maddow, I recently had an encounter with a relative who told me 1) I visited too many oddball sites and 2) he considered Rachel M. to be the most reliable news person in existence. I think we're talking "true believer" here. :)

Zachary Smith , Feb 12, 2019 5:43:19 PM | link
@ Les @42
It wouldn't surprise me if aim of the domestic intelligence agencies all along was to get him elected and have a candidate they could manipulate.

Considering how those "intelligence agencies" are hard pressed to find their own tails, even if you allow them to use both hands, it would surprise me.

That Trump would turn out to be a tub of jello in more than just a physical way has been a surprise to an awful lot of us.

Pft , Feb 12, 2019 5:44:54 PM | link

Russiagate was very successful. You just have to understand the objectives. It was a great distraction. Diverting peoples attention from the continued fleecing of the "real people" which are the bottom 90% by the "Corporate People" and their Government Lackeys.

It provided an excuse for the acting CEO (a figurehead) of the Corporate Empire to go back on many of the promises made that got him elected, and to fill the swamp with Neocon and Koch Brother creatures with the excuse the Deep State made him do it. More proof that there is no deception that is too ridiculous to be believed so long as you have enough pundits claiming it to be so

Allowed the bipartisan support for the clamp down on alt media with censorship by social media (Deep State Tools) and funded by the Ministry of Truth set up by Obama in his last days in office to under the false pretense of protecting us from foreign governments interference in elections (except Israel of course) . Similar agencies have been set up or planned to be in other countries followig the US example such as UK, France, Russia, etc.

Did anyone really expect Mr "Cover It Up " Mueller to find anything? Mueller is Deep State all the way and Trump is as well, not withstanding the "Fake Wrestling " drama that they are bitter enemies. All the surveillance done over the past 2-3 decades would have so much dirt on the Trumpet they could silence him forever . Trump knew that going in and I sometimes wonder if he was pressured to run as a condition to avoid prosecution. Pretty sure every President since Carter has been "Kompromat"

Jackrabbit , Feb 12, 2019 6:29:51 PM | link
james, bevin

If you've done just a cursory look into Seth Rich, you'd be very suspicious about the story of his life and death. IMO Assange/Wikilleaks were set up. And Flynn was set up too. What they are doing is Orwellian: White Helmets, election manipulation, propaganda, McCarthism, etc. If you're not angry, you're not paying attention.

stevelaudig , Feb 12, 2019 6:34:12 PM | link
Russians and likely at the behest of the Russian state interfered and it was fair payback for Yeltsin's election. It is time to move on but not in feigned ignorance of what was done. Was it "outcome" affecting, possibly, but not clearly and if the US electoral college and electoral system generally is so decrepit that a second level power in the world can influence then its the US's fault.

It's not like the 2000 election wasn't a warning shot about the rottenness of system and a system that doesn't understand a warning shot deserves pretty much what it gets. But there's enough non-hype evidence of acts and intent to say yes, the Russians tried and may have succeeded. They certainly are acting guilty enough. but still close the book move and move on to Trump's 'real' crimes which were done without a Russian assist.

spudski , Feb 12, 2019 6:52:50 PM | link
@38 bevin @47 james

I seem to recall former UK Ambassador to Uzbekistan Craig Murray saying that it was not a hack and that he had been handed a thumb drive in a field near American University by a disgruntled Democrat whistleblower. Further, I seem to recall William Binney, former NSA Technical Leader for intelligence, conducting an experiment to show that internet speeds at the time would not allow the information to be hacked - they knew the size of the files and the period over which they were downloaded. Plus, Seth Rich. So why does anyone even believe it was a hack, @32 THN?

Johan Meyer , Feb 12, 2019 6:55:54 PM | link
Just another comment re Mueller. There is a great documentary by (Dutch, not Israeli---different person) Gideon Levy, Lockerbie Revisited. The narration is in Dutch, but the interviews are in English, and there is a small segment of a German broadcast. The documentary ends abruptly where one set of FBI personnel contradict statements by another set of FBI personnel. See also this primer on Mueller's MO.
frances , Feb 12, 2019 7:11:07 PM | link
reply to Les 42
"It wouldn't surprise me if aim of the domestic intelligence agencies all along was to get him elected and have a candidate they could manipulate."

Not the intelligence agencies, the Military IMO. They knew HC for what she was; horrifically corrupt and,again IMO,they know she is insane.

They saw and I think still see Trump as someone they could work with, remember Rogers (Navy) of the NSA going to him immediately once he was elected? That was the Military protecting him as best they could.

They IMO have kept him alive and as long as he doesn't send any troops into "real" wars, they will keep on keeping him alive.
This doesn't mean Trump hasn't gone over to the Dark Side, just that no military action will take place that the military command doesn't fully support.

Again, I could be wrong, he could be backed by fiends from Patagonia for all I really know:)

AriusArmenian , Feb 12, 2019 8:44:27 PM | link
The button pushers behind the Trump collusion and Russia election hacking false narratives got what they wanted: to walk the democrats and republicans straight into Cold War v2; to start their campaign to suppress alternative voices on the internet; to increase military spending; and more, more, more war.
james , Feb 12, 2019 9:34:59 PM | link
ot - further to @65 https://www.youtube.com/watch?v=kK5YFos56ZU and https://www.youtube.com/watch?v=kK5YFos56ZU

as jr says - welcome to the rabbit hole..

ben , Feb 12, 2019 10:11:05 PM | link
Hope you're right b. Maybe now we can get on with some real truths.
  1. That there is really only one party with real influence, the party of $.
  2. That most of the Dems belong to that club, and virtually all the Repubs.
  3. That the U$A is not a real democracy, but an Oligarchy.
  4. That the corporate empire is the greatest purveyor of evil the world has ever known.

And these are just a few truths. Thanks for the therapy b, hope you feel better...

Circe , Feb 12, 2019 10:52:22 PM | link
Boy, I hope Jackrabbit sees this. Everyone knows I believe Trump is the anointed chosen of the Zionist 1%. There was no Russia collusion; it was Zionist collusion with a Russian twist...
Circe , Feb 12, 2019 11:11:17 PM | link
Oh yeah! Forgot to mention the latest. Trump is asking Kim to provide a list of his nuclear scientists! Before Kim acts on this request, he should call up the Iranian government for advise 'cause they have lots of experience and can warn Kim of what will happen to each of those scientists. They'll be put on a kill-list and will be extrajudicially wacked as in executed. Can you believe the chutzpah? Trump must think Kim is really stupid to fall for that one!

Aye! The thought of six more years of Zionist pandering Trump. Barf-inducing prospect is too tame.

PHC , Feb 13, 2019 2:25:44 AM | link

Russiagate is finished. So, now is the time to create Chinagate. But how ??

V , Feb 13, 2019 2:25:48 AM | link
The view from the hermitage is, we are in the age of distractions. Russiagate will be replaced with one of a litany of distractions, purely designed to keep us off target. The target being, corruption, vote rigging, illegal wars, war crimes, overthrowing sovereign governments, and political assasinations, both at home and abroad. Those so distracted, will focus on sillyness; not the genuine danger afoot around the planet. Get used to it; it's become the new normal.
Circe , Feb 13, 2019 3:53:19 AM | link
@76Hw
I have yet to read anything more delusional, nay, utterly preposterous. Methinks you over-project too much. Even Trump would have a belly-ache laugh reading that sheeple spiel. You're the type that sees the giant billboard of Zionist Trump and Yahoo shaking hands and drones on and on that our lying eyes deceive us and it's really Trump playing 4-D chess. I suppose when he tried to pressure Omar Ilhan into resigning her seat in Congress yesterday, that too was reverse psychology?

Trump instagramed the billboard pic, he tweeted it, he probably pasted it on his wall; maybe with your kind of wacky, Trump infatuation, you should too!

Starring role

Circe , Feb 13, 2019 4:15:37 AM | link
Russiagate is finished because Mueller discovered an embarrassing fact: The collusion was and always will be with Israel. Here's Trump professing his endless love for Zionism: Trump Resign
snake , Feb 13, 2019 5:13:14 AM | link

Russiagate was very successful <=pls read, re-read Pft @ 46.. he listed many things. divide and conquer accomplished.
a nation state is defined as an armed rule making structure, designed by those who control a territory, and constructed by the lawyers, military, and wealthy and run by the persons the designers appoint, for the appointed are called politicians.

Most designs of armed nation states provide the designers with information feedback and the designers use that information to appoint more obedient politicians and generals to run things, and to improve the design to better serve the designers. The armed rule making structure is designed to give the designers complete control over those targeted to be the governed. Why so stupid the governed? ; always they allow themselves to be manipulated like sheep.

When 10 angry folks approach you with two pieces of ropes: one to throw over the tree branch under which your horse will be supporting you while they tie the noose around your neck and the other shorter piece of rope to tie your hands behind ..your back you need at that point to make your words count , if five of the people are black and five are white. all you need do is say how smart the blacks are, and how stupid the whites are, as the two groups fight each other you manage your escape. democrat vs republican= divide to conquer. gun, no gun = divide to conquer, HRC vs DJT = divide to conquer, abortion, no abortion = divide to conquer, Trump is a Russian planted in a high level USA position of power = divide to conquer, They were all in on it together,, Muller was in the white house to keep the media supplied with XXX, to keep the law enforcement agencies in the loop, and to advise trump so things would not get out of hand ( its called Manipulation and the adherents to the economic system called Zionism
For the record, Zionism is not related to race, religion or intelligence. Zionism is a system of economics that take's no captives, its adherents must own everything, must destroy and decimate all actual or imaginary competition, for Zionist are the owners and masters of everything? Zionism is about power, absolute power, monopoly ownership and using governments everywhere to abuse the governed. Zionism has many adherents, whites, blacks, browns, Christians, Jews, Islamist, Indians, you name it among each class of person and walk of life can be found persons who subscribe to the idea that they, and only they, should own everything, and when those of us, that are content to be the governed let them, before the kill and murder us, they usually end up owning everything.

snake , Feb 13, 2019 6:08:16 AM | link
Here might the subject matter that Russia Gate sought to camouflage https://www.presstv.com/Detail/2019/02/13/588433/US-Saudi-Arabia-nuclear-deal-nuclear-weapons 'This comes as US Energy Secretary Rick Perry has been holding secret talks with Saudi officials on sharing US nuclear technology.'

Finally, a hypothesis to explain

1. why the Joint non nuclear agreement with Iran and the other nuclear power nations, that prevented Iran from developing nuclear weapons, was trashed? Someone needs to be able to say Iran is developing ..., at the right time.

2. Why Netanyohu made public a video that claimed Iran was developing nuclear stuff in violation of the Iran non nuclear agreement, and everybody laughed,

3. Why the nuclear non proliferation agreement with Russia, that terminated the costly useless arms race a decade ago, has been recently terminated, to reestablish the nuclear arms race, no apparent reason was given the implication might be Russia could be a target, but

4. why it might make sense to give nukes to Saudi Arabia or some other rogue nation, and

5. why no one is allowed to have nuclear weapons except the Zionist owned and controlled nation states.

Statement: Zionism is an economic system that requires the elimination of all competition of whatever kind. It is a winner get's all, takes no prisoners, targets all who would threaten or be a challenge or a threat; does not matter if the threat is in in oil and gas, technology or weapons as soon as a possibility exist, the principles of Zionism would require that it be taken out, decimated, and destroyed and made where never again it could even remotely be a threat to the Empire, that Zionism demands..

Hypothesis: A claim that another is developing nuclear weapon capabilities is sufficient to take that other out?

Kiza , Feb 13, 2019 8:26:29 AM | link
I am glad that most commenters understand that Russiagate will not go away. But the majority appear to miss the real reason. Russiagate is not an accusation, it is the state of mind.

At the beginnng of Russiagate, I wrote on Robert Parry's Consirtium News that Russiagate is Idiocracy piggy-backing on decades and literally billions of dollars of anti-Soviet and anti-Russian propaganda. How hard would it be to brainwash an already brainwashed population?

The purveyors of Russiagate will re-compose themselves, brush off all reports and continue on. One just cannot get away from one's nature, even when that nature is pure idiocy. Of course, the most ironic in the affair is that it is the so called US "intellectuals", academics and other assorted cretins who are the most fervent proponents. If you were wondering how Russia can make such amazing defensive weapons that US can only deny exist and wet dream of having, there is your answer. It is the state of mind. The whole of US establishment are legends in their on lunch time and totally delusional about the reality surrounding them - both Russiagate and MAGA cretins, no report can help the Russiagate nation.

Finally, I am thinking of that crazy and ugly professor bitch from the British Cambridge University who gives her lectures naked to protest something or other. I am so lucky that I do not have to go to a Western university ever again. What a catastrophic decline! No Brexit can help the Skripal nation.

NemesisCalling , Feb 13, 2019 8:46:48 AM | link
Russiagate is finished, but is DJT also among the rubble?

Hardly any money for the border wall and still lingering in the ME?

If Hoarsewhisperer proves to be correct above re: DJT, he will really have to knock our socks off before election 2020. To do this he will have to unequivocally and unceremoniously withdraw from the MENA and Afghanistan and possibly declare a National Emergency for more money for the wall.

The problem is, when he does this, he will look impulsively dangerous and this may harm his mystique to the lemmings who need a president to be more "presidential."

My money is on status quo all the way to 2020 and the rethugz hoping the Dems will eat their own in an orgy of warring identities.

I would love to be proven wrong.

morongobill , Feb 13, 2019 9:52:25 AM | link
Rush Limbaugh has been on a roll with his analysis of Russiagate, in fact, his analysis is in line with the writer/editor here at MOA.
Bart Hansen , Feb 13, 2019 10:52:12 AM | link
The collusion story may be faltering, but the blame for Russia poisoning the Skripals lives on. The other night on The News Hour, "Judy" led off the program with this: "It has been almost a year since Kremlin intelligence officers attempted to kill a Russian defector in the British city of Salisbury by poisoning him with a nerve agent. That attack, and the subsequent death of a British woman, scared away tourists and shoppers, but authorities and residents are working to get the town's economy back on track. Special correspondent Malcolm Brabant reports."
Erelis , Feb 13, 2019 12:15:48 PM | link

Russiagate will not go away unfortunately because it has evolved in the "Russiagate Industry". As mentioned by others, the Russiagate Industry has been very profitable for many industries and people. Russiagate has generated an entire cottage industry of companies around censorship and "find us a Russian". Dow Jones should have an index on the Russiagate Industry.

Here is one recent example. You know the measles outbreak in the US Pacific Northwest. Yup, the Russians. How do we know. A government funded research grant. The study found that 899 tweets caused people to doubt vaccines. Looks like money is to be had even by academics for the right results.

Measles outbreak: Anti-vaccination misinformation fueled by Russian propagandists, study finds
https://www.oregonlive.com/clark-county/2019/02/measles-outbreak-anti-vaccination-misinformation-fueled-by-russian-propagandists-study-finds.html

[Feb 11, 2019] The so-called shale revolution, the fracking miracle, may have resulted in record oil and gas production in North America, but the real miracle -- in which shale companies make money fracking that oil and gas -- has yet to occur.

Feb 11, 2019 | www.nakedcapitalism.com

While U.S. politicians from both parties have given standing ovations for the U.S. oil and gas industry , investors appear to be losing their enthusiasm. The so-called shale revolution, the fracking miracle, may have resulted in record oil and gas production in North America, but the real miracle -- in which shale companies make money fracking that oil and gas -- has yet to occur.

[Feb 10, 2019] Neoliberalism is dead. Now let's repair our democratic institutions by Richard Denniss

Highly recommended!
Notable quotes:
"... The opposite of a neoliberal economic agenda isn't a progressive economic agenda, but democratic re-engagement. Neoliberalism taught us that "there is no alternative" to cutting taxes, cutting services and letting the banks treat us as they see fit. But of course not even the Coalition believes that any more. These days they proudly subsidise their friends and regulate their enemies in order to reshape Australia in their preferred form. ..."
"... While the hypocrisy is staggering, at least voters can now see that politics, and elections, matter. Having been told for decades that it was "global markets" that shaped our society, it's now clear that it is actually the likes of Barnaby Joyce and Tony Abbott who decide whether we get new coal mines or power stations. Luckily, millions of voters now realise that if it's OK to subsidise new coal mines, there's no reason we can't subsidise renewables instead. ..."
"... So, what to nationalise? What new machinery of state should we build first? Should we create a national anti-corruption watchdog, replace the productivity commission with a national interest commission, or abolish the failed network of finance sector regulators and build a new one from scratch? ..."
"... The death of neoliberalism means we can finally have a national debate about the size and role of government, and the shape of the economy and society we want to build. ..."
"... class warfare (by the rich against the 99%, though I should not need to say that) is still very much alive. ..."
"... The rise of nationalism is indeed worrying situation.. but its clear that mass discontent is driving a 'shift' away from the status quo and that opportunists of every creed are all trying to get in on the action.. ..."
"... the elephant in the room that no one wants to discuss is population growth and lack of natural resources and meaningful 'employment' .. which self serving politicians are exploiting via playing the fear card and creating further division in society in order to embrace and increase their own power. Further more, no one, it seems, has any valid answers as regards resolving the division and creating a path forward.. thereby making more conflict an inevitability. ..."
"... Like Octopus, the globalists have every one of their eight legs in a different pot of gold. On their arms, suction cups maintain an iron grip. Trying to pull those suckers out, leaves us raw and bleeding. To release their grip, without hurting ourselves, we must aim for the brain. ..."
"... Murdoch's media empire has arms in every Democracy on earth. As his poisonous ink spread across our lands, we wallowed in the dark. ..."
"... The Oil and Coal Tycoons have arms in every black hole on earth. As their suckers pull black gold from the land beneath our feet, we choke on the air we breathe. ..."
"... The Financial Tyrants have arms in our buildings, factories, farms and homes. Their suckers stripped our pockets bare and we ran out of money. ..."
"... The False Prophets spread their arms into our private lives. Their suckers turned our modest, humble faiths into global empires filled with mega-churches, televangelists, jet-setting preachers and evangelical armies Hell bent on disruption and destruction. ..."
"... Neoliberalism may be dead but the former Trotskyites who invented it are still alive and they still have an agenda. ..."
"... Neo Liberalism was a project cooked up back in the late 1970s by the Capital owning classes & enacted by successive govts of "right" or "left" ever since. They feared the growing power of the working & middle classes which they felt threatened their own power & wealth. So they set out to destroy any ability of the working class to organise & to gut the middle class. ..."
"... Key to this was decoupling wages from productivity & forcing us all into debt peonage. Deregulation of the financial markets & the globalization of capital markets, disastorous multilateral trade deals & off shoring jobs, slashing state social programmes, Union busting laws all part of the plan. All covered with a lie that we live in meritocracies & the "best & brightest" are in charge. The result has been evermore riches funneled to the wealthiest few percent & a wealth gap bigger than that of the gilded age ..."
"... The majority press are so organised around the idea that neoliberalism in the sense captured economically and to some extent socially as construed in the article above; ..."
"... Rumours of neoliberalism's death have been somewhat exaggerated. Its been on life support provided by the LNP since John Howard and there are still a few market fundamentalists lurking in the ranks of the ALP, just waiting for their chance to do New Labor MkII in memory of Paul Keating. ..."
"... Neoliberalism's lasting legacy will not be the ludicrous economic programs, privatizations and deregulation, those can all be rolled back if some party would grow a spine. The real damage was caused by the aping of the US and UK's cult of individual responsibility, the atomizing effects of neoliberal anti-social policy and demonization of collective action including unionism. ..."
Oct 31, 2018 | www.theguardian.com

The opposite of a neoliberal economic agenda isn't a progressive economic agenda, but democratic re-engagement. Neoliberalism taught us that "there is no alternative" to cutting taxes, cutting services and letting the banks treat us as they see fit. But of course not even the Coalition believes that any more. These days they proudly subsidise their friends and regulate their enemies in order to reshape Australia in their preferred form.

While the hypocrisy is staggering, at least voters can now see that politics, and elections, matter. Having been told for decades that it was "global markets" that shaped our society, it's now clear that it is actually the likes of Barnaby Joyce and Tony Abbott who decide whether we get new coal mines or power stations. Luckily, millions of voters now realise that if it's OK to subsidise new coal mines, there's no reason we can't subsidise renewables instead.

Neoliberalism: the idea that swallowed the world Read more

The parliament is filling with people of all political persuasions who, if nothing else, decry the neoliberal agenda to shrink our government and our national vision. While there's obviously quite a distance between MPs who want to build the nation, one new coal mine at a time, and those who want to fill our cities with renewable energy, the whole purpose of democracy is to settle such disputes at the ballot box.

The Liberals want to nationalise coal-fired power stations and pour public money into Snowy 2.0 . The ALP want much bigger renewable energy targets and to collect more revenue by closing billions of dollars in tax-loopholes . The Greens want a publicly owned bank and some unions are pushing to nationalise aged care. It's never been a more exciting time to support a bigger role for government.

So, what to nationalise? What new machinery of state should we build first? Should we create a national anti-corruption watchdog, replace the productivity commission with a national interest commission, or abolish the failed network of finance sector regulators and build a new one from scratch?

... ... ...

The death of neoliberalism means we can finally have a national debate about the size and role of government, and the shape of the economy and society we want to build. But we need to do more than talk about tax and regulation. Australia is one of the oldest parliamentary democracies in the world, and we once helped lead the world in the design of democratic institutions and the creation of an open democratic culture. Let's not allow the legacy of neoliberalism to be a cynical belief that there is no point repairing and rebuilding the democratic institutions that ensure not just our economy thrives, but our society as well. A quick look around the world provides clear evidence that there really are a lot of alternatives.

Richard Denniss is chief economist for the Australia Institute


R_Ambrose_Raven , 1 Nov 2018 16:38

Mmmm, well, class warfare (by the rich against the 99%, though I should not need to say that) is still very much alive.

Globalisation-driven financial deregulation was commenced here by Hawke Labor from 1983 as a Laberal facade for the Australian chapter of the transnational ruling class policy of self-enrichment. It was sold to the aspirationals as the ever-popular This Will Make You Rich - as ever-rising house prices did, for home-owners then (paid for now through housing unaffordability for their descendants). Then, transnational capital was able to loot both aspirationals' productivity gains (easily 10% of GDP) plus usurious interest from the borrowings made by the said aspirationals (easily 6% of GDP) to keep up with the Joneses. Now, it loots 90% of all increases in GDP, leaving just 10% in crumbs from the filthy rich man's table for 15 million workers to share.

We don't notice as much as we should, because the mainstream (mainly but not only Murdoch) media is very good at persuading us - then and now - that there is nothing to see. It is a tool of that transnational class, its role being to manufacture our consent to our own exploitation. Thus they play the man because it is politically easier than open demands that the public be robbed. In the case of penalty rates, thus adopting the obvious hypocrisy of which "The Australian" accuses Shorten. Or they play the woman, in the case of the ferocious, relentless media vilification of Julia Gillard and Gillard Labor – five years after the demonization of Gillard Labor's Great Big New (Carbon) Tax, the need for one is now almost universally accepted. Or they play the players, hence a focus on Dutton's challenge that pretends that he has meaningful policies.

Labor's class traitors clearly intended to aggressively apply the standard neoliberal model – look at how it helps their careers after politics (ask Anna Blight)! Shorten is not working to promote some progressive agenda, he is doing as little as possible, and expects to simply be voted into The Lodge as a committed servant of transnational capitalism.

Colinn -> bushranga , 1 Nov 2018 16:14
Wait till the revolution comes and we get the bastards up against the wall.
Colinn , 1 Nov 2018 15:53
I stopped voting 40 years ago because the voting system is mathematically rigged to favor the duopoly. Until a large number of minor parties can share their preferences and beat the majors, which is now starting to happen. This is not just voting for a good representative, but voting against the corrupt parties. A minority government should lead to proper debate in parliament. More women will lead to lower levels of testosterone fuelled sledging and better communication. A "Coalition of Representative Independents" could form government in the future, leading by consensus and constantly listening to the community.
tjt77 -> BlueThird , 1 Nov 2018 11:35
The rise of nationalism is indeed worrying situation.. but its clear that mass discontent is driving a 'shift' away from the status quo and that opportunists of every creed are all trying to get in on the action..

The big nut to crack is HOW do we collectively find sane and honest leadership ? A huge part of the problem is the ongoing trend of disdain for government in favor of embracing private monopolies as the be all and end all for solving the ongoing societal rift. .. which has created a centralization of wealth and the power that that wealth yields.. allied to the fact that huge swaths of the population in EVERY nation were hiding when the brains were allocated.. and hence are very easy to dupe..

the elephant in the room that no one wants to discuss is population growth and lack of natural resources and meaningful 'employment' .. which self serving politicians are exploiting via playing the fear card and creating further division in society in order to embrace and increase their own power. Further more, no one, it seems, has any valid answers as regards resolving the division and creating a path forward.. thereby making more conflict an inevitability.

MeRaffey , 1 Nov 2018 08:05
Like Octopus, the globalists have every one of their eight legs in a different pot of gold. On their arms, suction cups maintain an iron grip. Trying to pull those suckers out, leaves us raw and bleeding. To release their grip, without hurting ourselves, we must aim for the brain.

Murdoch's media empire has arms in every Democracy on earth. As his poisonous ink spread across our lands, we wallowed in the dark.

The Oil and Coal Tycoons have arms in every black hole on earth. As their suckers pull black gold from the land beneath our feet, we choke on the air we breathe.

The Financial Tyrants have arms in our buildings, factories, farms and homes. Their suckers stripped our pockets bare and we ran out of money.

The False Prophets spread their arms into our private lives. Their suckers turned our modest, humble faiths into global empires filled with mega-churches, televangelists, jet-setting preachers and evangelical armies Hell bent on disruption and destruction.

Denniss offers us the cure! Start thinking fresh and new and starve the globalists to death. They fed us BS, we ate BS and now we are mal-nourished. We need good, healthy ideas.

Land. Infrastructure. Time.

Time - "WE" increased productivity and the globalists stole the rewards. Time to increase our FREE time. 32 hours is the NEW full time. Pay us full time wages, give us full time benefits, and reduce our work days by 20% and suddenly we have 20% more jobs. As the incomes of billionaires drop, the money in circulation will increase. We are the job creators - not globalists.

21st Century Infrastructure is about healthy human beings - not the effing economy. Think healthcare, education, senior care and child care. If we find out you have sent your money off-shore, your local taxes will increase by ten. So please, do, send your money off-shore - our cities and towns would love to increase taxes on your stores, offices and real estate by ten.

No more caps on taxes. If you are a citizen, you pay social taxes on every dime you get. In America you will be paying 15.3% of every dollar to social security. That's $153,000.00 a year for every million dollars you take out of our economy.

Land is not something you put in a museum, lock away in a vault, or wear on your neck. Think fresh and new. If you own land, you are responsible for meeting community rules.

No more empty, weed filled lots allowed. If you have empty land, you better put in a nice garden, pretty trees and walkways or we will do it for you and employ "eminent-domain" on your bank accounts to pay for it.

No more empty buildings. If you own an empty building you will put it to good use, or we will do it for you - and keep the profits to fund our local governments, schools, hospitals, and senior/child care centers.

No more slumlords allowed. We have basic standards, for everyone. If we catch you renting a slum to anyone, we will make repairs for you, and if you do not pay the bill, we will put a lien on your building and wait until you sell it to pay ourselves back.

We do not trust you big-box types anymore. If you want to build your mega-store in our cities, towns or communities, you must, first, deposit the entire cost of tearing it down, and landscaping a park, or playground when you leave. While you stay, we will invest your deposit in index funds and assure ourselves enough money down the road.

Sorry you BIG guys and gals, but you will find our countries are very expensive places for you to invest. We put our families, our neighborhoods and our lives first.

Proselytiser -> FarmerDave , 1 Nov 2018 07:30
That would be fantastic.

However - and it's a big however - there is a very real danger that at the next election the libs will again win by default due to the fact that many traditional labour voters are defecting to the greens instead. Sadly, LNP supporters are a lot less likely to vote green. Our best hope is to wipe the LNP out at the next election by voting labour, and then at the election after that establishing the greens in opposition. It is unfortunatly unlikely to happen at the next election....and I just hope that voters in certain seats understand that by voting for the greens they might be in fact unwittingly handing the reins back to the least green party of all: the LNP.

childofmine , 1 Nov 2018 04:04
Neoliberalism may be dead but the former Trotskyites who invented it are still alive and they still have an agenda.
Idiotgods , 1 Nov 2018 03:25
Neo Liberalism was a project cooked up back in the late 1970s by the Capital owning classes & enacted by successive govts of "right" or "left" ever since. They feared the growing power of the working & middle classes which they felt threatened their own power & wealth. So they set out to destroy any ability of the working class to organise & to gut the middle class.

Key to this was decoupling wages from productivity & forcing us all into debt peonage. Deregulation of the financial markets & the globalization of capital markets, disastorous multilateral trade deals & off shoring jobs, slashing state social programmes, Union busting laws all part of the plan. All covered with a lie that we live in meritocracies & the "best & brightest" are in charge. The result has been evermore riches funneled to the wealthiest few percent & a wealth gap bigger than that of the gilded age

Phalaris -> fabfreddy , 1 Nov 2018 03:18
The essential infrastructure to ensure a base level quality of life for all. Really it's not difficult. What are you afraid of?
Phalaris , 1 Nov 2018 03:15
The majority press are so organised around the idea that neoliberalism in the sense captured economically and to some extent socially as construed in the article above; as normal and natural that nothing can be done. As the system folds we see in its place Brexit, neoconservatism, Trump.

This is not new found freedom or Liberatarianism but a post liberal world where decency and open mindedness and open nuanced debate take a a back seat to populism and demagoguery.

Citizen0 , 1 Nov 2018 00:52
The whole purpose of Anglophone liberal democracy has been twofold: 1. to establish and protect private property rights and 2. TO guarantee some individual liberties. Guess who benefits from the enshrinement of private property rights as absolute? Big owners, and you know who they are. ... Individual tights are just not that sacred, summon the latest bogeyman, and they can be shrunken or tossed.
Alan Ritchie , 31 Oct 2018 22:24
Neoliberalism, the economic stablemate of big religion's Prosperity Evangelism cult. https://en.wikipedia.org/wiki/Prosperity_theology . Dual streams of bull shit to confuse the citizens while the Country's immense wealth is stolen.
PaulC_Fitzroy -> Bearmuchly , 31 Oct 2018 22:19
I certainly agree with you.

It seems there's been a turning point recently though in the ideas of neoliberalism, as pointed out by Denniss that suddenly it's okay for all and sundry to talk about nationalising industries and infrastructure. It will probably take a couple of decades to turn things around in practical ways. And there are surely plenty of powerful supporters of the ideas of neoliberalism still around.

HonestQuestion , 31 Oct 2018 19:00
Is neo-liberalism really dead or is it wishful thinking?
If neo-liberalism really is on the decline in Australia, all i can say is bravo to Australia, use this opportunity to build a stronger government and regain the terrain that was lost during the TINA (there is no alternative) years.
Here in Canada neo-liberalism is stronger than ever, maybe because of the proximity to the cancerous tumor at the south, so when i read this article, i did it with a bit of skepticism but also with a bit of envy and a bit of hope for the future.
MrTallangatta , 31 Oct 2018 18:58
Neoliberalism is *not* dead, and it is counter-productive to claim that it is. It is clearly the driver of what passes for policy by the LNP government. Just as trickle-down economics remains as the basis of the government's economic actions.
sangela -> mikedow , 31 Oct 2018 18:50
I love it!!
Nintiblue , 31 Oct 2018 18:48
It will look like it's dead when back bone services and infrastructure utilities are returned to public ownership.

Those things are not fit for market style private ownership for a few big reasons:

They are by their nature natural monopolies (so a market private ownership won't work and will rapidly creep up prices of reduced service precisely because they not in a natural market context.

These core services and utilities are mega scale operations beyond a natural market ROI value.

These core sovereign services and utilities, are nation critical to the national economy and political stability. The last thing we want to do is hand that sovereign power over to private control.

PaulMan , 31 Oct 2018 18:47
Australia is a very fortunate country. It enjoys national sovereignty, unshackled by crippling bonds to anything like the neoliberal EU. It is thus able to concentrate on solving its own issues.
StephenO -> ildfluer , 31 Oct 2018 18:47
When The Guardian's editorial staff goes down to Guatamala City, they can stand on a soap box in front of Subway sandwich or McDonalds or Radio Shack.

Europe doesn't do socialism. It's a capitalist system with a high rate of taxes to support a generous social welfare.

sangela -> Matt4720 , 31 Oct 2018 18:46
Jane is too radical and progressive for Warringah...maybe they don't know that?
sangela , 31 Oct 2018 18:45
Great article. Must say that we do have more than one vote per electorate. They're called preference votes. Kerryn Phelps get 23% of the primary PLUS a heap of preferences! But a proportional system would change a whole lot of results
ildfluer -> Matt4720 , 31 Oct 2018 18:41
Yes. But only if she relinquishes her British citizenship in time.
Fred1 -> Alpo88 , 31 Oct 2018 18:38
Firstly we are not in America. America is a basket case and has been since, well, forever.

Secondly the so called "housing crisis" is a simple consequence of a growing population. In the 1950s there were just 8m people in Australia, there 10m in the 1960s and 12m in the 1970s. And, no, neo-liebralism didn't cause the growing population. People having sex and living longer caused the growing population. It is therefore all the more remarkable that we have actually built enough houses to house a population which has doubled in size.

Thirdly, in the last 30 years 1 billion people have been lifted out of poverty. When you talk about huge, unprecedented, un-fucking-believable levels of poverty, super-massive inequality, dissatisfaction (Really? This is now a measure?), unemployment/sub-employment and casualization, collapse (collapse?) of public services, high(er) costs of living.....do you think you're being a little overly dramatic?

Do you really think it all comes to back to one silly economic theory?

Nothing to do with the reality of automation, globalisation, growing populations and the realities of living in 2018 rather than 1978?

Are voters around the world going hard against Neoliberalism? (I note it's now a capitalised term).

In the US they voted for a billionaire who blamed immigrants for people's problems while promising tax and spending cuts.....sounds like an even more extreme version of neo-liberlaism to me.

In Britain they voted for Brexit to....oh that's right....kick out immigrants and burn "red tape".

In Brazil, yep, more neo-liberalism on steroids.

In fact, looking around the world it's actually the far right which are seizing power.

And this is the issue with the obsessive preoccupation with community decline. It feeds directly into the hands of fascism and the far right.

I'm not saying things are perfect. I would prefer to see much more government investment. The only way we'll get that is to educate ourselves about how government finances work so that we're not frightened off by talk of deficits.

However, by laying this all on the door of one rather silly economic theory is to ignore that economics is nothing without human beings. It is human beings who are responsible for all of the good and bad in the world. No theory is going change that. If the world is the way it is it's because humans made it like this.

The "deterioration of the environment"? We did that not neo-liberalism .....

JustInterest , 31 Oct 2018 18:37
In answer to the headline article question, yes WE citizens should collectively strive to think radically, bigger and better than the existing status quo.

PAY CITIZENS TO VOTE!

We must bypass the vested interests and create a new system which encourages active, regular participation in democracy.... lest we wake up one day and realise too late that, by stealth and citizen apathy, the plutocrats and their corporate fascist servants have usurped our nation state, corrupted our law and weakened our institutions, to such a point that our individual rights are permanently crushed.

Change is coming, like it or not. This century - there is great risk to society that advanced technologies such as artificial intelligence, robotics and lifespan enhancing genetic engineering will be used by ultra-rich plutocrats to make the vast majority of humanity redundant (within a couple of generations).

Citizens should advocate for DIRECT DEMOCRACY in which citizens are PAID on a per vote per issue basis (subject to verification checks that support the rewarding of effort- citizens should be asked to first demonstrate that they have made effort to obtain sufficient knowledge on a particular topic, prior to being rewarded for their service of voting. Such a process can be opt-in, those who want to be paid, work to do so by learning about the governance issue which is to be voted upon. In this way, a minimum wage can be obtained by direct citizen participation in the governance of communities and our nation). We have the technologies TODAY to undertake open-ledger, smart-phone enabled, digital/postal voting on a per issue basis... which can be funded by EFFECTIVE taxation on large multinational corporations and ultra-wealthy (foreign) shareholders. Citizen will is needed to influence change - the major political parties did not want a Federal ICAC and they certainly will not support paid direct citizen democracy unless voters overwhelming demand it.

Citizens already accept that politicians are paid to vote (and frequently "rewarded" for their "service" to large corporations and wealthy (foreign) shareholders by unethical, corrupt means). Thus, in principle, why can society not collectively accept direct payment to citizens for their individual vote upon an issue? Why do citizens continue to accept archaic systems of democracy which have clearly FAILED to meet the needs of our population in the 21st century?

Citizens are not sufficiently politically engaged in democracy and their civic responsibilities BECAUSE they are not incentivised to do so and because they are economic slaves without the luxury of time to sort through deliberate overload of disinformation, distortion, distraction and deception. Citizens are struggling to obtain objective understanding and to think critically because these crucial functions of democracy are innately discouraged by our existing 20th century economy (that is, slaves are busy support the systems of plutocrats in order that they may live, ants to a queen).

We must advocate for change in the systems of democracy which are failing our communities, our nation, our planet. For too long, plutocrats and their servants have maintained control over economic slaves and the vast majority of the population because citizens have accepted the status quo of being governed by the powerful.

Technology has permanently changed our species. We must all collectively act before innate human greed, lust for power and fear of loss of control (by the wealthy few) lead the majority on an irrational path toward destruction - using the very technologies which helped set us free from the natural world!

JustInterest -> NoSoupforNanna , 31 Oct 2018 18:35
In answer to the headline article question, yes WE citizens should collectively strive to think radically, bigger and better than the existing status quo.
PAY CITIZENS TO VOTE!

We must bypass the vested interests and create a new system which encourages active, regular participation in democracy.... lest we wake up one day and realise too late that, by stealth and citizen apathy, the plutocrats and their corporate fascist servants have usurped our nation state, corrupted our law and weakened our institutions, to such a point that our individual rights are permanently crushed.

Change is coming, like it or not. This century - there is great risk to society that advanced technologies such as artificial intelligence, robotics and lifespan enhancing genetic engineering will be used by ultra-rich plutocrats to make the vast majority of humanity redundant (within a couple of generations).

Citizens should advocate for DIRECT DEMOCRACY in which citizens are PAID on a per vote per issue basis (subject to verification checks that support the rewarding of effort- citizens should be asked to first demonstrate that they have made effort to obtain sufficient knowledge on a particular topic, prior to being rewarded for their service of voting. Such a process can be opt-in, those who want to be paid, work to do so by learning about the governance issue which is to be voted upon. In this way, a minimum wage can be obtained by direct citizen participation in the governance of communities and our nation). We have the technologies TODAY to undertake open-ledger, smart-phone enabled, digital/postal voting on a per issue basis... which can be funded by EFFECTIVE taxation on large multinational corporations and ultra-wealthy (foreign) shareholders. Citizen will is needed to influence change - the major political parties did not want a Federal ICAC and they certainly will not support paid direct citizen democracy unless voters overwhelming demand it.

Citizens already accept that politicians are paid to vote (and frequently "rewarded" for their "service" to large corporations and wealthy (foreign) shareholders by unethical, corrupt means). Thus, in principle, why can society not collectively accept direct payment to citizens for their individual vote upon an issue? Why do citizens continue to accept archaic systems of democracy which have clearly FAILED to meet the needs of our population in the 21st century?

Citizens are not sufficiently politically engaged in democracy and their civic responsibilities BECAUSE they are not incentivised to do so and because they are economic slaves without the luxury of time to sort through deliberate overload of disinformation, distortion, distraction and deception. Citizens are struggling to obtain objective understanding and to think critically because these crucial functions of democracy are innately discouraged by our existing 20th century economy (that is, slaves are busy support the systems of plutocrats in order that they may live, ants to a queen).

We must advocate for change in the systems of democracy which are failing our communities, our nation, our planet. For too long, plutocrats and their servants have maintained control over economic slaves and the vast majority of the population because citizens have accepted the status quo of being governed by the powerful.

Technology has permanently changed our species. We must all collectively act before innate human greed, lust for power and fear of loss of control (by the wealthy few) lead the majority on an irrational path toward destruction - using the very technologies which helped set us free from the natural world!

exTen , 31 Oct 2018 17:13
Richard went off the rails in his opening sentence: "The opposite of a neoliberal economic agenda isn't a progressive economic agenda, but democratic re-engagement."

I say this because economically misinformed democratic engagement is a shackle around democracy, at best, if not fatal to democracy. And the biggest and most fundamental misinformation, spouted every bit as much by ALP and Greens as the Libs, is that we must strive for a "sustainable surplus".

As Richard rightly observes, "Neoliberalism taught us that "there is no alternative" to cutting taxes, cutting services and letting the banks treat us as they see fit. But of course not even the Coalition believes that any more." But that doesn't stop them, or Labor, or the Greens from guaranteeing the continuance of the neoliberal cut & privatise mania by insisting that they believe in "budget repair" and "return to surplus" - an insistence which their economically illiterate or misled supporters accept. If you believe in the obviously ridiculous necessity for a currency issuer to run balanced budgets, you are forced into invalid neoliberal thinking, into accepting a false "necessity" for cuts and privatisations, or economy-sedating taxation increases.

Thorlar1 , 31 Oct 2018 08:13
Rumours of neoliberalism's death have been somewhat exaggerated. Its been on life support provided by the LNP since John Howard and there are still a few market fundamentalists lurking in the ranks of the ALP, just waiting for their chance to do New Labor MkII in memory of Paul Keating.

Neoliberalism's lasting legacy will not be the ludicrous economic programs, privatizations and deregulation, those can all be rolled back if some party would grow a spine. The real damage was caused by the aping of the US and UK's cult of individual responsibility, the atomizing effects of neoliberal anti-social policy and demonization of collective action including unionism.

All of which have hastened the atrophy of our democracy.

First things first lets get rid of the neo-liberal national dinosaurs still wallowing in parliament unaware of the mass extinction awaiting them in March next year. At the same time vote in a minority Labor government with enough independent cross benchers, including a preponderance of Greens to keep the bastards honest.

Then just maybe we can start looking at the wider project of repairing Australian society and democracy while we try and reverse the near-decade of damage the LNP have done with their dangerous pro-fossil fuel stance, their insane climate change denial and hypocritical big business friendly economic policies.

Should be a snap!

exTen -> Loco Jack , 31 Oct 2018 08:05
The irony is that it's simple. It's the Heath Robinson contraptions that the economic priesthood for the plutocracy snow us with that are complicated, that turn us off economic thinking because they are impenetrable and make no sense. The simplicity comes from accepting the blinding obvious truth, once you think about it. The federal government is the monopoly issuer of the AUD. The rest of the world are users, not issuers. Its "budgets" are not our budgets. Nothing like them. Kind of the opposite. Its surpluses are the economy's deficits. Its deficits are the economy's surpluses.

[Feb 05, 2019] Fed's Dudley Explains How I Learned To Stop Worrying Love The Fed's Balance Sheet

Feb 05, 2019 | www.zerohedge.com

"Stocks have reached a permanently high plateau", "subprime is contained", "there's no icebergs this far south" and now "The Fed's balance sheet is not the threat that people seem to think it is."

Man's ability to willfully ignore 'downside possibilities' and remain cognitively dissonant far longer than logic (or their pocketbook) should allow seems to know no bound and none other than The Federal Reserve's Bill Dudley just unleashed what could be the piece de resistance of "nothing to see here, move along" agitprop.

fersur , 19 minutes ago link

Great Picture' Cowboying a Nuke while discussing confidence in the FED, quite appropo' !

TRUTH @ 9:00; Plus this week, Friday will be Huge !

Should a seated President jail someone that attempted his Assassination, or a Former President that planned to Nuke the Yellowstone Super Volcano Caldera, or someone that sold email password to China and CC copied all 'to and from' messages including those highly Confidential, or blame a former President for planning 911 False Flag attack, or expose Planned Parenthoods first Amputating tongues for silently shipping in bulk, or expose Democrat history of Decades of Projecting blame while committing War Crimes, or end 19 Year War in Afghanistan ( Longest War ) then Syria against Last Night's Congressional Vote to keep status quo, or 'take a knee' and quit being President !

costa ludus , 42 minutes ago link

Is this from The Onion?

[Feb 05, 2019] Dad Heartbreakingly Thinks His Connections Can Help Son Find Job

Feb 05, 2019 | local.theonion.com

CLEVELAND -- In a devastatingly sad overestimation of his influence in the professional world, local father Bruce Tenety, 54, expressed the heartbreaking belief Monday that his connections could help his son Justin, a recent college graduate, find a job. "You know, I actually have a friend in the media business, and if you shoot him an email and meet up for coffee, he just might be able to hook you up with something," said Tenety, who depressingly appeared to be under the impression that this tenuous contact from a conference he attended three years ago would not only remember his name, but would also be willing to extend an offer of employment to a 23-year-old he knows nothing about.

"I also know a guy who works at a PR firm in Mayfield Heights. Old Gary definitely owes me one from back in the day.

Hell, you could probably call him up right now and get an interview this week. Just tell him you're Bruce's kid."

At press time, sources confirmed Tenety had noticed his name was suspiciously absent from the references section on his son's most recent job application.

[Feb 05, 2019] The bottom line is that this preoccupation with the 'headline number' for the current month as a single datapoint that is promoted by Wall Street and the Government for official economic data is a nasty neoliberal propaganda trick. You need to analise the whole time serioes to get an objective picture

Highly recommended!
Notable quotes:
"... And as for the median wage and income -- it is still too weak to sustain an economic recovery. ..."
Feb 05, 2019 | jessescrossroadscafe.blogspot.com

The bottom line is that this preoccupation with the 'headline number' for the current month as a single datapoint that is promoted by Wall Street and the Government for official economic data is misleading.

The effective method of considering a heavily adjusted and revised data series like this is with a trend analysis of at least seven to twelve observations, and more if you can get them.

But, that makes for a much less interesting and convenient narrative.

And as for the median wage and income -- it is still too weak to sustain an economic recovery.

Stocks were a bit weak today, despite all this fabulous economic data, having exhausted the sugar rush that was spoonfed to them by their friendly neighborhood Federal Reserve.

[Feb 02, 2019] The Immorality and Brutal Violence of Extreme Greed

Highly recommended!
Notable quotes:
"... By #SlayTheSmaugs, an elected Bernie delegate in Philly. ..."
"... #STS believes that the billionaire class are Smaugs (the greed incarnate dragon of The Hobbit), immorally hoarding wealth for no reason beyond ego gratification. To "Slay" the Smaugs, we need a confiscatory wealth tax, stronger democratic institutions to impose it, and a shared moral agreement that #GreedIsEvil to justify it. ..."
"... More; charitable foundations are not the same thing, in many cases, as true charity. Instead foundations often function as hoard preservers as well, and enrich their leadership too. ..."
"... After a certain level of accumulation money is simply ego gratifying points, it's not money any more. ..."
"... Wealth on this scale has nothing to do with financial security or luxurious living. For the trivial, it is (as per D. Trump) a game and money is how you keep score. For the serious, it has to do with power, with the ability to affect other people's lives without their consent. That is why the Smaugs' wealth is absolutely our business. It should be understood that we're talking about taking very large amounts of money and power away from very rich people, people for whom money and power are pretty much the only things they value. It will not be pretty. ..."
"... If we fail to prevent the imposition of this transnational regime there will only be three classes of humans left: kleptocrats, their favored minions, and slaves. ..."
"... A more modern similarity of the US is Rome. Vassals have been going full retard for several years now, traitors sell international competitors military secrets while the biggest merchants buy off the Senate. ..."
"... Isn't there an idiom about cutting off the head of the snake? Once you deal with the strongest opponents, it's easier to go after the others. Too big to fail is nothing short of feeding the beast. ..."
"... I disagree strongly with your premise that some sort of pure and natural meritocracy has ever existed, or could ever exist in human society. Corrupt and oppressive people will always define as "meritorious" those qualities that they themselves possess– whether wealth, "gentle birth," "technical skills," or whatever. We all possess the same merit of being human. ..."
"... Meritocracy is not the same as recognizing greater and lesser degrees of competence in various activities. It is absurd to deny that some are more skillful at some things than others. Assigning the relative "merit" to various competencies is what I find objectionable. ..."
"... Encouraging ethical behavior has nothing to do with ranking the "merit" levels of different occupations. While some occupations are inherently unethical, like that of an assassin, most can be performed in such a way as to do no harm to others, and some are nearly always beneficial to society at large. ..."
Jul 22, 2016 | Naked Capitalism

... ... ...

By #SlayTheSmaugs, an elected Bernie delegate in Philly.

#STS believes that the billionaire class are Smaugs (the greed incarnate dragon of The Hobbit), immorally hoarding wealth for no reason beyond ego gratification. To "Slay" the Smaugs, we need a confiscatory wealth tax, stronger democratic institutions to impose it, and a shared moral agreement that #GreedIsEvil to justify it.

Worshiping Wealth

When Gordon Gekko proclaimed that 'Greed is Good' in 1987, it was an obvious rejection of several millennia of teachings by traditional prophets and priests. Yet when Gekko preached greed, he was merely reinforcing the current cultural norm; greed had already been rebranded a virtue. (Still, the speech was to remind us Gekko was a bad guy). Consider that Madonna had proclaimed herself a Material Girl three years earlier, and "Living Large" was cool. Conspicuous consumption is walking the talk that greed is good.

Why had greed become good? I blame the creation of a credit-fueled culture of constant consumption that necessarily praises coveting stuff, plus the dismantling of the regulatory state that had kept Wall Street and wannabe oligarchs in check.

Our healthy cultural adoration of the self-made man, of respect for success, warped into worship of the rich. They are not the same. Wealth can be inherited, stolen through fraud and other illegal activities, or harvested from bubbles; none of these or myriad other paths to riches is due respect, much less worship. Paired with another 80's definition-government is the problem-worshiping wealth facilitates all the dysfunction in our government.

Remembering Greed is Evil

Thirty years later, the old social norm-the one that protected the many from the few, the one that demonized greed as a deadly sin-is resurgent. We have a Pope who preaches against greed, and who walks his talk . We had a Presidential candidate of a major party-Bernie Sanders-who railed against those living embodiments of greed, the Billionaire Class, and walked his talk by rejecting their money. At the convention, he has invited delegates to four workshops, one of which is "One Nation Now: Winning the Fight Against Racism and Greed". We have a late night comedian-John Oliver- ridiculing the prosperity gospel and taking on the debt industry . We have mass consciousness rising, reflected in Occupy, the label "the 99%", BLM and more.

But we need more voices insisting #GreedIsEvil. We need to teach that basic message at home, in school, and in houses of worship. We need to send the right signals in our social interactions. We need to stop coveting stuff, and start buying with a purpose: Shopping locally, buying American, buying green and clean, and buying less. We need to waste less, share more and build community. We need to re-norm-alize greed as evil, make it shameful again. Then we will have redefined ourselves as citizens, not consumers.

But make no mistake: America cannot become a just nation simply by the 99% becoming more virtuous. The cultural shift is necessary but not sufficient, for norms alone do not deliver social and economic justice. Shame will not slay the Smaugs; we need structural change in the political economy.

Extreme greed, the greed of Smaugs, is categorically different than the petit greed underlying the irrational, constant consumption and the worship of wealth. Extreme greed manifests as a hoard of wealth so great that "purchasing power" is an irrelevant concept; a hoard so great it lacks any utility other than to be sat upon as a throne, gratifying the Smaug's ego and symbolizing his power. That greed must be understood as an intolerable evil, something so base and malevolent that the full power of the state must be used against it.

This essay is my contribution to the cause of returning extreme greed to its rightful place in the pantheon of ultimate evils. Here is the thesis: extreme greed must be 'slain' by the state because extreme greed is brutally violent.

The Stealth Violence of False Scarcity and "Cutting Corners"

Greed's violence is quiet and deadly: The violence of false scarcity and of "corner cutting". Scarcity is not having enough because there just isn't enough to go round, like the nearly 50 million people who don't reliably have food during the year, including 15 million kids. False scarcity is when actually, there's plenty to go around, but people generally don't have enough because of hoarders.

It's a concentrated version of what happened to pennies in 1999. People keeping pennies in piggy banks created a shortage felt throughout New York City . If only people had broken open their piggy banks, and used their pennies, there would have been plenty of pennies in circulation, and shopkeepers wouldn't lose money by rounding purchases down. In this piece, I'm focusing on false scarcity of dollars, not pennies, and the maiming and premature death that results from false dollar scarcity. But the idea is essentially the same; there's just far fewer relevant piggy banks.

By the quiet violence of 'corner cutting', I'm referring to unsafe, even deadly, workplaces that could be safe if the employers invested in safety.

Sporadically, greed also drives overt, and sometimes profoundly bloody violence to protect the hoard. Think of employer violence against unions and union organizers, a la Henry Ford , or John D. Rockefeller . Nonetheless in this country now, the violence of greed tends to be more covert. It is that quiet violence, in both forms, I want you to hear now.

As Sanders often reminds us, in this, the richest nation in the world, nearly 50 million people are living in poverty; roughly one in seven Americans. And as Sanders explained, in a speech in West Virginia , 130,000 people die each and every year as a result of poverty. I have not read the study Sanders referred to, so I don't know how much it overlaps with the rise of suicide that accelerated after 2006 and which appears to be correlated with financial stress. Nor do I know how it overlaps with the documented increase in white mortality that also appears to correlate with financial stress. Regardless of overlap, however, each of these studies reflects the quiet violence of false scarcity. Naked Capitalism has featured many posts documenting the damage of greed; this is a recent one .

Chronic and acute financial stress from false scarcity maims, and kills. And Smaugs create false scarcity to feed money to their egos and maintain their oligarchic power.

As Lambert often says, they don't call it class warfare for nothing.

But wait, you might insist, how false is the scarcity, really? How much do a few billionaires matter? Ranting that greed is evil is all well and good, but really, can a relative handful of people be manufacturing scarcity where there is none, shortening and taking millions of lives in the process? Aren't you making your target too narrow in going after the Smaugs?

In order: Very false, a lot, yes and no.

The Falsity of Dollar Scarcity

In 2015 the Institute for Policy Studies determined that the richest 20 American billionaires had hoarded as much wealth as 152 million people had managed to scrape together combined. Think on that.

Twenty people had hoarded $732,000,000,000. America is a nation of about 300,000,000 people. That means 20 people could give a combined $2,370 to every American, and still hoard $1 billion each. I'm not suggesting that's how the redistribution should be done, but it's notable that in an era when some 200 million Americans haven't been able to save $1000 for an emergency, twenty people could give everyone over two grand while remaining fabulously wealthy.

Now, these 20 monstrous people, these full grown Smaugs, are not alone in their extreme greed. Adding in the assets of the next 380 richest Americans brings the total wealth hoarded to $2.34 trillion. That number is so large it's hard to process , so let's think this through.

First, imagine that we took all of that money with a confiscatory tax, except we again left each of the 400 people with $1 billion. They would still be obscenely rich, so don't pity them.* Our tax thus netted $1.94 trillion. Since that's still an unimaginable number, let's compare it to some recent government spending.

In December 2015, Congress funded five years' worth of infrastructure construction. Congress and President Obama were very self-congratulatory because our infrastructure is a mess, and building things involves good paying jobs. So, how much did five years of infrastructure building and job creation cost? $305 billion . That's less than the $400 billion we let the 400 Smaugs keep at the start of this thought experiment. With the $1.94 trillion we imagine confiscating, we could keep building at the 2015 pace for 32 years. Or we could spend it much faster, and create an economic boom the like of which this nation hasn't seen in generations.

Even Bernie Sanders, he of the supposedly overly ambitious, unable-to-be-paid for initiatives, only proposed spending $1 trillion on infrastructure over five years -a bit more than half what our tax would net. (Nor did this supposed radical call for a confiscatory wealth tax to fund his plan.) Sanders estimated his proposal would create 13 million good paying jobs. With nearly double the money, surely we get nearly double the jobs? Let's be conservative and say 22 million.

In sum, we could confiscate most of the wealth of 400 people-still leaving them obscenely rich with $1 billion each-and create 22 million good paying jobs over five years. But we don't; we let the Smaugs keep their hoards intact. Now consider this is only taxing 400 people; what if we taxed the richest 2,000 people more justly? What if we taxed corporations effectively? What if we stopped giving corporate welfare? A confiscatory wealth tax, however, simply isn't discussed in polite company, any more than a truly progressive income tax is, or even serious proposals to end corporate welfare. The best we can do is agree that really, someday soon, we should end the obscenity that is the carried interest loophole.

False scarcity isn't simply a failure of charity, a hoarding of wealth that should be alms for the poor. False scarcity is created through the billionaires' control of the state, of public policy. But the quiet violence of greed isn't visited on the 99% only through the failure to pay adequate taxes. Not even through the Smaugs' failure to have their corporations pay adequate wages, or benefits. Predatory lending, predatory servicing, fraudulent foreclosure, municipal bond rigging, and pension fund fleecing are just some of the many other ways immoral greed creates false scarcity.

While false scarcity has the broadest impact, it is not the only form of stealth violence used by the billionaires in their class war against the rest of us. The Ford and Rockefeller style violence of fists and guns may be rare in the U.S. these days, but a variant of it remains much too common: Unsafe workplaces, the quiet violence of "cutting corners". Whether it's the coal industry , the poultry industry , or the fracking and oil industries, or myriad other industries, unsafe workplaces kill, maim and sicken workers. Part of the political economy restructuring we must do includes transforming the workplace.

Feel the Greed

Let us remember why this stealth violence exists-why false scarcity and unsafe workplaces exist.

People who have more money than they hope to spend for the rest of their lives, no matter how many of their remaining days are "rainy"; people who have more money to pass on than their children need for a lifetime of financial security, college and retirement included; people who have more money to pass on than their grandchildren need for a similarly secure life–these people insist on extracting still more wealth from their workers, their clients, and taxpayers for no purpose beyond vaingloriously hoarding it.

Sure, some give away billions . But even so they retain billions. For what? More; charitable foundations are not the same thing, in many cases, as true charity. Instead foundations often function as hoard preservers as well, and enrich their leadership too.

In Conclusion

Greed is evil, but it comes in different intensities. Petit greed is a corrosive illness that decays societies, but can be effectively ameliorated through norms and social capital. Smaug greed is so toxic, so potent, that the state is the only entity powerful enough to put it in check. Greed, particularly Smaug greed, must be put in check because the false scarcity it manufactures, and the unsafe workplaces it creates, maim and kill people. The stealth violence of Smaug greed justifies a tax to confiscate the hoards.

#GreedIsEvil. It's time to #SlayTheSmaugs

*One of the arguments against redistribution is that is against the sacrosanct efficient market, which forbids making one person better off if the price is making someone else worse off. But money has diminishing returns as money after a certain point; the purchasing power between someone with one billion and ten billion dollars is negligible, though the difference between someone with ten thousand and a hundred thousand, or a hundred thousand and a million is huge. After a certain level of accumulation money is simply ego gratifying points, it's not money any more. Thus taking it and using it as money isn't making someone 'worse off' in an economic sense. Also, when considering whether someone is 'worse off', it's worth considering where their money comes from; how many people did they leave 'worse off' as they extracted the money? Brett , July 22, 2016 at 10:07 am

After a certain level of accumulation money is simply ego gratifying points, it's not money any more.

It quite literally isn't "money" as we regular folks know it beyond a certain point – it's tied up in share value and other assets. Which of course raises the question – when you decide to do your mass confiscation of wealth, who is going to be foolish enough to buy those assets so you actually have liquid currency to spend on infrastructure as opposed to illiquid assets? Or are you simply going to print money and spend it on them?

Thomas Hinds , July 22, 2016 at 10:33 am

Wealth on this scale has nothing to do with financial security or luxurious living. For the trivial, it is (as per D. Trump) a game and money is how you keep score. For the serious, it has to do with power, with the ability to affect other people's lives without their consent. That is why the Smaugs' wealth is absolutely our business. It should be understood that we're talking about taking very large amounts of money and power away from very rich people, people for whom money and power are pretty much the only things they value. It will not be pretty.

Ranger Rick , July 22, 2016 at 10:37 am

People become rich and stay that way because of a market failure that allows them to accumulate capital in the same way a constricted artery accumulates blood. What I'm wondering, continuing this metaphor, is what happens when all that money is released back into the market at once via a redistribution - toxic shock syndrome.

You can see what happens to markets in places where "virtual money" (capital) brushes up against the real economy: the dysfunctional housing situation in Vancouver, London, New York, and San Francisco.

It may be wiser to argue for wealth disintegration instead of redistribution.

a different chris , July 22, 2016 at 11:52 am

Yes I was thinking about that money is just something the government prints to make the system work smoothly. But that, and pretty much any view of money, obscures the problem with the insanely "wealthy".

If these people, instead of having huge bank accounts actually had huge armies the government would move to disarm them. It wouldn't re-distribute the tanks and rifles. It would be obviously removing a threat to everybody.

Now there would be the temptation to wave your hands and say you were "melting it into plowshares" but that causes an accounting problem - that is, the problem being the use of accounting itself. Destroying extreme wealth and paying for say roads is just two different things and making them sound connected is where we keep getting bogged down. Not a full-on MMT'er yet but it really has illuminated that fact.

And no, as usual l have no solutions.

John Merryman , July 22, 2016 at 12:55 pm

The western assumption is that money is a commodity, from salt to gold, to bitcoin, we assume it can be manufactured, but the underlaying reality is that it is a social contract and every asset is presumably backed by debt.
Here is an interesting link which does make the point about the contractual basis of money in a succinct fashion;
http://rs79.vrx.palo-alto.ca.us/opinions/ideas/economics/jubilee/

Since the modern commodity of money is backed by debt and largely public debt, there is enormous pressure to create as much debt as possible.
For instance, the government doesn't really budget, it just writes up these enormous bills, attaches enough goodies to get the votes and the president can only pass or veto it and with all the backing and no other method, a veto is a weak protection.

To budget is to prioritize and spend according to ability. What they could do would be to break these bills into all their various "line items," have every legislator assign a percentage value to each one, put them back together in order of preference and then the president would draw the line.
It would balance the power and reduce the tendency to overspend, but it would blow up our financial system, which if anyone notices, is based on the sanctity of government debt.

If instead of borrowing the excess money out of the system, to spend on whatever, if the government threatened to tax it out, people would quickly find other ways to store value than as money in the financial system.

Since most of us save for the same general reasons, from raising children to retirement, we could invest in these as public commons, not try to save for our exact needs. This would serve to strengthen communities and their environments, as everyone would be more dependent on those around them, not just having a private bank account as their personal umbilical cord.

We treat money as both medium of exchange and store of value. As Rick points out above, a medium is like blood in the body and it needs to be carefully regulated. Conversely, the store of value in the body is fat and while many of us do carry an excess, storing it in the circulation system is not wise. Clogged arteries, poor circulation and high blood pressure are analogous to a bloated financial system, poor circulation and QE.
Money is not a commodity, but a contract.

Julian , July 22, 2016 at 11:00 am

Do you realize that this supposed billionaire wealth does not consist of actual US dollars and that, if one were to liquidate such wealth (in order to redistribute it in "fair" equal-dollars) that number might drastically change?

The main thing these people (and indeed your pension funds) are actually hoarding are financial assets, and those, it turns out, are actually "scarce". Or, well, I don't know what else you would call trillions of bonds netting a negative interest rate and an elevated P/E stock market in a low-growth environment.

It's a bit of a pickle from a macro environment. You can't just force them to liquidate their assets, or else the whole system would collapse. It also kind of escapes the point that someone has to hold each asset. I would be excited to see what happens when you ask Bill Gates to liquidate his financial assets (in order to distribute the cash). An interesting thought, for sure. And one that would probably bring the market closer to reasonable valuations.

It is simply a wrong conclusion to say "Wealth is x, and if we distribute it, everyone would get x divided by amount of recipients in dollar terms". Now if you wanted to redistribute Bill Gates' stake in Microsoft in some "fair" way, you could certainly try but that's not really what you proposed.

Either way you can't approach wealth policy from a macro perspective like this, because as soon as you start designing macro-level policy to adjust (i.e. redistribute) this wealth, the value of it will fluctuate very wildly in dollar terms and may well leave everyone less well off in some weird feedback loop.

JTMcPhee , July 22, 2016 at 11:05 am

"The full power of the state must be used against" #extremegreed: Except, of course, "L'etat c'est moi "

Of course as a Bernie supporter, the writer knows that, knows that it is a long game to even start to move any of the hoard out of Smaug's cave, that there are dwarves with glittering eyes ready to take back and reduce to ownership and ornamentation the whole pile (maybe they might 'share" a little with the humans of Lake Town who suffered the Dragon's Fire but whose Hero drove a mystical iron arrow through the weak place in Smaug's armor, all while Sauron and Saruman are circling and plotting and growing hordes of genetically modified Orcs and Trolls and summoning the demons from below

The Elves seem to be OK with a "genteel sufficiency," their wealth being useful durable stuff like mithril armor and those lovely houses and palaces up in the trees. Humans? Grabbers and takers, in Tolkien's mythology. I would second that view - sure seems to me that almost any of us, given a 1000-Bagger like Zuckerman or Jobs or that Gates creature fell into, or Russian or Israeli or African or European oligarchs for that matter (pretty universal, and expected given Davos and Bilderberg and Koch summits) the old insatiable lambic system that drives for pleasure-to-the-max and helps our baser tribal drives and penchant for violence to manifest and "thrive" will have its due. Like 600 foot motor yachts and private-jet escape pods and pinnacles islands with Dr. No-style security provided by guns and accountants and lawyers and faux-legitimate political rulers for hire

Lots of analysis of "the problem." Not so much in the way of apparent remedies, other than maybe lots of bleeding, where the mopes will do most of it and if history is any guide, another Smaug will go on around taking all the gold and jewels and other concentrated wealth back to another pile, to sit on and not maybe even gloat over because the scales are just too large

Still hoping for the emergence of an organizing principle that is more attractive that "take whatever you can and cripple or kill anyone who objects "

Ulysses , July 22, 2016 at 11:38 am

"People who have more money than they hope to spend for the rest of their lives, no matter how many of their remaining days are "rainy"; people who have more money to pass on than their children need for a lifetime of financial security, college and retirement included; people who have more money to pass on than their grandchildren need for a similarly secure life–these people insist on extracting still more wealth from their workers, their clients, and taxpayers for no purpose beyond vaingloriously hoarding it."

These are people who are obscenely wealthy as opposed to merely wealthy. The fastest way to challenge their toxic power would be to help the latter group understand that their interests are not aligned with the former. Most millionaires (as opposed to billionaires) will eventually suffer when the last few drops of wealth remaining to the middle and working classes are extracted. Their future prosperity depends on the continued existence of a viable, mass consumer economy.

The billionaires imagine (in my view falsely) that they will thrive in a neo-feudal future– where they own everything and the vast majority of humanity exists only to serve their needs. This is the future they are attempting to build with the new TPP/TISA/TTIP regime. If we fail to prevent the imposition of this transnational regime there will only be three classes of humans left: kleptocrats, their favored minions, and slaves. Most neoliberal professionals, who imagine that they will be in that second group, are delusional. Did the pharaohs have any need for people like Paul Krugman or Maureen Dowd?

a different chris , July 22, 2016 at 11:59 am

Yeah unfortunately they did. It wasn't just the pharaoh and peasants, there was a whole priestly class just to keep the workers confused.

Now the individuals themselves weren't at all necessary, they have always been easily replaceable.

FluffytheObeseCat , July 22, 2016 at 12:36 pm

Pharaohs didn't need a middle/professional class as large as the ones in most western democracies today. But, we are going in the pharaonic direction.

The problem our polite, right wing professional classes face is that they are increasingly too numerous for society's needs. Hence the creeping gig-i-fication of professional employment. The wage stagnation in all but the most guild-ridden (medicine) professions.

It's so reminiscent of what happened to the industrial working class in the late 70s and 80s. I still remember the "well-reasoned", literate arguments in magazine op-eds proclaiming how line workers had become "excess" in the face of Asian competition and automation. How most just needed to retrain, move to where the jobs are, tighten their belts, etc. It's identical now for lawyers, radiologists, and many layers of the teaching professions. If I weren't part of that "professional" class I'd find the Schadenfreude almost too delicious.

HotFlash , July 22, 2016 at 1:54 pm
If we fail to prevent the imposition of this transnational regime there will only be three classes of humans left: kleptocrats, their favored minions, and slaves.

Sounds about right, but you are overlooking the fact that the largest class will be The Dead. They will not need nearly so many of Us, and we will be thinned, trimmed, pruned, marooned, or otherwise made to go away permanently (quietly, for preference, I assume, but any way will do).

Ergo, the violence of ineffectual health care, toxic environment, poisonous food, dangerous working conditions and violence (for instance, guns and toxic chemicals) in our homes, schools, streets, workplaces, cities and, well, everywhere are not only a feature, but a major part of the plan.

And I'm actually feeling rather optimistic today.

Tim , July 22, 2016 at 2:23 pm

It has been extensively documented that the merely wealthy are very upset at the obscenely wealthy.

If the author is truly focusing on a tax for obscene wealth I'd like to know a specific threshold. Is it 1 Billion and up? annual limit how many times the median income before it kicks in?

#SlayTheSmaugs Post author , July 22, 2016 at 3:30 pm

Well, I'm happy to have a discussion about at what threshold a confiscatory wealth tax should kick in; it's the kind of conversation we have with estate taxes.

I'm thinking a one off wealth tax, followed by a prevention of the resurrection of the problem with a sharply progressive income tax. Is $1 billion the right number for this initial reclamation? maybe. It is about the very top few, not the merely wealthy.

#SlayTheSmaugs

Vatch , July 22, 2016 at 5:32 pm

$1 billion is a reasonable amount of assets for determining whether to confiscate a portion of a person's wealth in taxes. Or perhaps we could base it on a percentage of GDP. The U.S. GDP in 2015 was approximately $17.9 trillion. Anyone with $1.79 billion or more in assets would have 1% of 1% of the U.S. GDP (0.01%). That's a lot of wealth, and surely justifies a heavy tax.

Quantum Future , July 22, 2016 at 4:15 pm

To your question Ulysses

'Professionals, who imagine that they will be in that second group, are delusional. Did the pharaohs have any need of Paul Krugman'

Sure they did. Those were called Priests who told the people what the gods were thinking. And since Pharoah's concluded themselves gods. The slaves revolt by working less. Anybody notice the dropping production levels the last couple of years? Whipping the slaves didn't turn out well for the Egyptians.

A more modern similarity of the US is Rome. Vassals have been going full retard for several years now, traitors sell international competitors military secrets while the biggest merchants buy off the Senate.

Ceasar becomes more a figurehead until one leads a coup which has not happened yet. Aquiring more slaves begins to cost more than what the return in general to the society brings but the Smaugs do not care about that until the barbarians begin to revolt (See Orlando for example, the shooter former employee of DHS. Probably pissed some of his comrades were deserted by US in some manner.

Ulysses , July 22, 2016 at 12:07 pm

My point was that the category of people in this priestly caste will likely be far, far smaller than the millions of credentialed neoliberal professionals currently living large in the top 10% of the developed world.

Interesting mental image– to see Paul Krugman chanting praises to the new Son of the Sun God the Donald!!

#SlayTheSmaugs , July 22, 2016 at 12:07 pm

Look, there's a simple way to #SlayTheSmaugs, and it's a confiscatory wealth tax coupled with a sharply progressive income tax, as part of an overall restructuring of the political economy.

Simple, is of course, not easy; indeed my proposal is currently impossible. But like Bernie I'm trying to change the terms of political debate, to normalize what would previously be dismissed as too radical to be countenanced.

I don't think the looting professional class needs to be slain, in the #SlayTheSmaugs sense. I think they can be brought to heel simply by enforcing laws and passing new ones that are already within acceptable political debate, such as one that defines corruption as using public office for private gain. I think norms matter to the looting professional class as well. Another re-norm-ilization that needs to happen is remembering what a "profession" used to be

Sylvia Demarest , July 22, 2016 at 12:17 pm

Friends and neighbors!! Most of this "wealth" is ephemeral, it is based on the "value of assets" like stocks, bonds, real estate, et al. If all of this "wealth" gets liquidated at the same time, values would collapse. These people are fabulously wealthy because of the incredible inflation we have seen in the "assets" they hold.

Remember, during the Great Depression the "wealth" wasn't confiscated and redistributed, it was destroyed because asset values collapsed and over 2000 banks failed wiping out customer accounts. This also collapsed the money supply causing debt defaults, businesses failures, and worker laid offs. No one had any money because there was none.

The US was on the gold standard limiting the creation of liquidity. President Roosevelt went off the gold standard so that he could work to increase the money supply. It took a long time. The result of the depression was decades of low debt, cheap housing, and hard working people who remembered the hard times. The social mood gradually changed as their children, born in more prosperous times, challenged the values of their parents.

Yves Smith , July 22, 2016 at 10:02 pm

Even though the bulk of what the super rich hold is in paper assets, they still hold tons of real economy assets. They've succeeded in buying enough prime and even merely good real estate (like multiple townhouses in Upper West Side blocks and then creating one monster home behind the facade) to create pricing pressure on ordinary renters and homeowners in the same cities, bidding art through the roof, owning mega-yachts and private airplanes, and most important of all, using the money directly to reshape society along their preferred lines, witness charter schools.

GlassHammer , July 22, 2016 at 12:21 pm

If you are going to fight against the "Greed is Good" mentality, you are going to have to address the habits of the average middle class household. Just take a look at the over accumulation of amenities and creature comforts. The desire to signal ones status/wealth through "stuff" is totally out of control and completely divorced from means/income.

#SlayTheSmaugs , July 22, 2016 at 12:58 pm

Fair, and I do propose that:

"But we need more voices insisting #GreedIsEvil. We need to teach that basic message at home, in school, and in houses of worship. We need to send the right signals in our social interactions. We need to stop coveting stuff, and start buying with a purpose: Shopping locally, buying American, buying green and clean, and buying less. We need to waste less, share more and build community. We need to re-norm-alize greed as evil, make it shameful again. Then we will have redefined ourselves as citizens, not consumers."

dots , July 22, 2016 at 2:09 pm

Isn't there an idiom about cutting off the head of the snake? Once you deal with the strongest opponents, it's easier to go after the others. Too big to fail is nothing short of feeding the beast.

Punxsutawney , July 22, 2016 at 12:45 pm

There was a time not that long ago that I would have opposed a "confiscatory wealth tax". After looking at what most of those in the .1% are doing with their wealth, and their contempt for the average person, those days are long gone. Plus it's good economics.

The only question is what is "obscene wealth". Well like pornography, I think we know it when we see it.

Alfred , July 22, 2016 at 1:48 pm

I am wondering about the distribution of all this concentrated wealth; how much of it is spread around in the equities and bond markets?

And if that amount was redistributed to the general public how much of it would return to the equities and bond market?

I'm thinking not very much which would have catastrophic effects on both markets, a complete reordering. This would undoubtedly crush the borrowing ability of our Federal government, upset the apple cart in other words. With less money invested in the equities market it would undoubtedly return to a lower more realistic valuation; fortunes would be lost with no redistribution.

Oh the unintended consequences.

#SlayTheSmaugs Post author , July 22, 2016 at 3:34 pm

Fair to ask: How do we achieve a confiscatory wealth tax without catastrophic unintended consequences? But that's a very different question than: should we confiscate the Smaug's wealth?

One mechanism might be to have a government entity created to receive the stocks, bonds and financial instruments, and then liquidate them over time. E.g. Buffett has been giving stock to foundations for them to sell for awhile now; same kind of thing could be done. But sure, let's have the "How" conversation

Quantum Future , July 22, 2016 at 4:34 pm

If lobbying were outlawed at the Federal level the billionaires and multi millionaires would need to invest in something else. That signal has a multiplier effect.so your right eboit enforcement of mostly what is on the books already. A 'wall' doesnt have to be built for illegal immigrants either. Fine a couple dozen up the wazoo and the signal gets passed the game is over.

But until a few people's daughters are kidnapped or killed like in other 3rd world countries, it wont change. That is sad but reality is most people do not do anything until it effects them. I started slightly ahead of the crowd in summer of 2007 but that is because a regional banker told me as we liked discussing history to look at debt levels of 1928 and what happened next. On top of that, we are the like the British empire circa 1933 so we get the downside of that as well.

Pain tends to be the catalyst of evolution that fully awakens prey to the predators.

juliania , July 22, 2016 at 1:53 pm

"As Sanders often reminds us. . ."

I am sorry, Sir Smaug slayer. The underlying theme of your lengthy disquisition is that Sanders is the legitimate voice of the 99%, and his future complicity within the Democratic Party is thereby ameliorated by his current proposals within it. This is the true meat of your discourse ranging so far and wide – even with the suggestion early on that we the 99% need tutoring on the evils of greed.

Not so. That ship has sailed. Our Brexit is not yet upon us, but that it is coming, I have no doubt. The only question is when. To paraphrase a Hannah Sell quote on such matters. . . for decades working class people have had no representation in the halls of Congress. All of the politicians . . . without exception, have stood in the interests of the 1% and the super-rich.

Bernie Sanders included. Hannah's remarks were more upbeat – she made an exception for Jeremy Corbyn. Unfortunately, I can't do that. Bernie has folded. We need to acknowledge that.

amousie , July 22, 2016 at 2:16 pm

One of the arguments against redistribution is that is against the sacrosanct efficient market, which forbids making one person better off if the price is making someone else worse off.

I think you mean downward redistribution here since upward redistribution seems to be rather sacrosanct and definitely makes one person better off at the price of making many someones worse off to make it happen.

Tim , July 22, 2016 at 2:18 pm

Confiscatory wealth tax is too blunt an instrument to rectify the root causes discussed in this article, and you do not want a blunt impact to the effect of disincentivizing pursuit of financial success.

Further Centralization the populous' money will incite more corruption which is what allows the have's to continue lording it over the have nots.

What are alternatives?
Instead Focus on minimizing corruption,
Then it will be possible to implement fair legislation that limits the options of the greed to make decisions that results in unfair impacts on the lower class.

Increase incentives to share the wealth, (tax deductible charitable giving is an example).

We do need to encourage meritocracy whenever possible, corruption and oppression is the antithesis to that.

We need to stop incentivizing utilization of debt, that puts the haves in control of the have nots.

JTMcPhee , July 22, 2016 at 6:25 pm

"Financial success. " As long as those words go together, and make an object of desire, the fundamental problem ain't going away.

Of course the underlying fundamental problem of human appetite for pleasure and power ain't going away either. Even if a lot of wealth was taken back (NOT "confiscated") from the current crop and hopeful horde of kleptocrats

JTMcPhee , July 22, 2016 at 6:27 pm

How long before the adage "A fool and his money are soon parted" kicked in?

Ulysses , July 22, 2016 at 2:51 pm

"We do need to encourage meritocracy whenever possible, corruption and oppression is the antithesis to that."

I disagree strongly with your premise that some sort of pure and natural meritocracy has ever existed, or could ever exist in human society. Corrupt and oppressive people will always define as "meritorious" those qualities that they themselves possess– whether wealth, "gentle birth," "technical skills," or whatever. We all possess the same merit of being human.

An Egyptologist, with an Oxbridge degree and extensive publications has no merit– in any meaningful sense– inside a frozen foods warehouse. Likewise, the world's best frozen foods warehouse worker has little to offer, when addressing a conference focused on religious practices during the reign of Ramses II. Meritocracy is a neoliberal myth, intended to obscure the existence of oligarchy.

NeqNeq , July 22, 2016 at 4:03 pm

An Egyptologist, with an Oxbridge degree and extensive publications has no merit– in any meaningful sense– inside a frozen foods warehouse. Likewise, the world's best frozen foods warehouse worker has little to offer, when addressing a conference focused on religious practices during the reign of Ramses II. Meritocracy is a neoliberal myth, intended to obscure the existence of oligarchy.

I am confused.

You claim meritocracy is "a neoliberal myth, intended to obscure the existence of oligarchy", but (seemingly) appeal to meritocratic principles to claim a warehouse worker doesnt offer much to an academic conference. Can you clear up my misunderstanding?

I agree, btw, that Idealized meritocracy has never existed (nor can). Follow up question: There has never been an ideal ethical human, does that mean we should stop encouraging ethical behavior?

Ulysses , July 22, 2016 at 6:44 pm

Meritocracy is not the same as recognizing greater and lesser degrees of competence in various activities. It is absurd to deny that some are more skillful at some things than others. Assigning the relative "merit" to various competencies is what I find objectionable.

Encouraging ethical behavior has nothing to do with ranking the "merit" levels of different occupations. While some occupations are inherently unethical, like that of an assassin, most can be performed in such a way as to do no harm to others, and some are nearly always beneficial to society at large.

Someone who did nothing but drink whiskey all day, and tell funny stories in a bar, is far more beneficial to society at large than a busy, diligent economist dreaming up ways to justify the looting of the kleptocrats.

Pierre Robespierre , July 22, 2016 at 4:37 pm

Wealth Redistribution occurs when the peasants build a scaffold and frog march the aristocracy up to a blade; when massive war wipes out a generation of aristocracy in gas filled trenches or in the upcoming event.

Roland , July 22, 2016 at 10:23 pm

"Fair to ask: How do we achieve a confiscatory wealth tax without catastrophic unintended consequences?"

Answer: Do it and find out. Some things can only be determined empirically. First, do what needs doing. We can take care of the Utility afterwards.≥

Barry , July 22, 2016 at 11:00 pm

I would like to see a financial settlements tax like Scott Smith presidential candidate recommends. http://www.scottsmith2016.com/

[Jan 29, 2019] A State of Neoliberalism by Kevin "Rashid" Johnson (New African Black Panther Party)

Highly recommended!
References omitted
Notable quotes:
"... "number of refugees and displaced persons increased dramatically over the decade, doubling from 2007 to 2015, to approximately 60 million people. There are nine countries with more than 10 per cent of their population classified as refugees or displaced persons with Somalia and South Sudan having more than 20 per cent of their population displaced and Syria with over 60 per cent displaced." ..."
"... In The Road to Serfdom ..."
"... The Road to Serfdom ..."
"... When, in 1947, Hayek founded the first organisation that would spread the doctrine of neoliberalism -- the Mont Pelerin Society -- it was supported financially by millionaires and their foundations ..."
"... Masters of the Universe ..."
"... As an ideology, neoliberalism borrows heavily from Trotskyism. "One can view neoliberalism as Trotskyism refashioned for elite ..."
"... proletarians of all countries unite ..."
"... neoliberal elites of all countries unite. ..."
"... Today Trotskyism no more confines itself to "informing" the bourgeoisie. Today Trotskyism is the center and the rallying point for the enemies of the Soviet Union, of the proletarian revolution in capitalist countries, of the Communist International. Trotskyism is trying not only to disintegrate the dictatorship of the proletariat in the Soviet Union, but also to disintegrate the forces that make for the dictatorship of the proletariat the world over. ..."
"... The Origins and Doctrine of Fascism ..."
"... Donald Trump is a visible product of this culture, but clearly is not the choice of the elite ruling class to serve as their "front man" for President. Rather, his role seems to have been to polarize the electorate in such a way as to assure Hillary Clinton the election, just as Bernie Sanders played a role of mobilizing the left-neoliberal camp and then sheep-dogging it into Hillary's camp. ..."
"... Bernie Sanders is this election's Democratic sheepdog. The sheepdog is a card the Democratic party plays every presidential primary season when there's no White House Democrat running for re-election. ..."
"... "An extraordinary feature of the U.S. electoral process is that the two dominant parties collude to dictate – via their own bipartisan "commission" – who is allowed to participate in the officially recognized presidential debates. Needless to say, the two parties set impossible barriers to the participation of any candidates other than their own . Most potential voters are thereby prevented from acquainting themselves with alternatives to the dominant consensus. ..."
"... Citizens United ..."
"... as deep in the shadows as possible ..."
"... Former president Jimmy Carter said Tuesday on the nationally syndicated radio show the Thom Hartmann Program that the United States is now an "oligarchy" in which "unlimited political bribery" has created "a complete subversion of our political system as a payoff to major contributors ..."
Nov 16, 2016 | rashidmod.com

The fundamental difference between socialism and capitalism is not simply a question of private vs. state ownership of the means of production but of the nature of the state itself. This is because the state is an instrument of class dictatorship. In this epoch, the state will be either a dictatorship of the bourgeoisie or a dictatorship of the proletariat. The dictatorship of the proletariat has only one rationale for its existence which is to transform class society into classless society and the state into a non-state that will wither away as classless society is achieved. However, there is a great danger of the dictatorship of the proletariat transforming back into a dictatorship of the bourgeoisie and thereby restoring capitalism, so long as classes continue to exist under socialism.

Class struggle intensifies under socialism, and will until the basis of class divisions no longer continues to be present. Communism is necessarily a global system, stateless and classless and without national boundaries. At this stage in the evolution of capitalist-imperialism, independent national states have ceased to exist as the global capitalist system becomes ever more hegemonic. In this period the World Proletarian Socialist Revolution cannot simply liberate one country at a time and meanwhile peacefully co-exist with the global capitalist system. Rather we must wage revolution globally to defeat capitalist-imperialism and achieve a global dictatorship of the proletariat. A system of global revolutionary intercommunalism would be the logical form for this proletarian dictatorship.

The U.S. Military is deployed globally with bases in the majority of countries and "partnership" arrangements to train and advise most of the world's armed forces. The U.S. is the dominant force in NATO and of the United Nations' armed forces. A recent report by the Institute for Economics and Peace found a mere ten nations on the planet are not at war and completely free from conflict. The report cites an historic 10-year deterioration in world peace, with the "number of refugees and displaced persons increased dramatically over the decade, doubling from 2007 to 2015, to approximately 60 million people. There are nine countries with more than 10 per cent of their population classified as refugees or displaced persons with Somalia and South Sudan having more than 20 per cent of their population displaced and Syria with over 60 per cent displaced." [1] According to the report, the United States spends an outrageously high percentage of the globe's military expenditures -- 38 percent -- while the next largest military spender, China, accounted for considerably less, 10 percent of the global share. [2]

The principle contradiction in the world today is between the need of the monopoly capitalist ruling class to consolidate its global hegemony and the chaos and anarchy (including the threat of a Third World War) it is unleashing by attempting to do so. The so-called "War on Terrorism" is but a front for capitalist-imperialism's aggressive attempts to consolidate its global bourgeois dictatorship and subordinate every country to its hegemonic control. The essence of communism is community, and capitalist-imperialism is the antithesis of community, particularly under neo-liberalism, which is the final stage of imperialism. As George Monbiot explained:

"The term neoliberalism was coined at a meeting in Paris in 1938 . Among the delegates were two men who came to define the ideology, Ludwig von Mises and Friedrich Hayek. Both exiles from Austria, they saw social democracy, exemplified by Franklin Roosevelt's New Deal and the gradual development of Britain's welfare state, as manifestations of a collectivism that occupied the same spectrum as nazism and communism.

" In The Road to Serfdom , published in 1944, Hayek argued that government planning, by crushing individualism, would lead inexorably to totalitarian control . Like Mises's book Bureaucracy , The Road to Serfdom was widely read. It came to the attention of some very wealthy people, who saw in the philosophy an opportunity to free themselves from regulation and tax. When, in 1947, Hayek founded the first organisation that would spread the doctrine of neoliberalism -- the Mont Pelerin Society -- it was supported financially by millionaires and their foundations .

"With their help, he began to create what Daniel Stedman Jones describes in Masters of the Universe as "a kind of neoliberal International": a transatlantic network of academics, businessmen, journalists and activists. The movement's rich backers funded a series of think tanks which would refine and promote the ideology. Among them were the American Enterprise Institute, the Heritage Foundation, the Cato Institute, the Institute of Economic Affairs, the Centre for Policy Studies and the Adam Smith Institute. They also financed academic positions and departments, particularly at the universities of Chicago and Virginia.

"As it evolved, neoliberalism became more strident. Hayek's view that governments should regulate competition to prevent monopolies from forming gave way, among American apostles such as Milton Friedman, to the belief that monopoly power could be seen as a reward for efficiency." [3]

As an ideology, neoliberalism borrows heavily from Trotskyism. "One can view neoliberalism as Trotskyism refashioned for elite . " [4] Instead of " proletarians of all countries unite " we have [the] slogan " neoliberal elites of all countries unite. " [5] Stalin purged Trotsky, but some of his disciples made the transition to become founding intellectuals of neoliberal ideology, and in particular its "neo-conservative" wing. "Neoliberalism is also an example of emergence of ideologies, not from their persuasive power or inner logic, but from the private interests of the ruling elite. Political pressure and money created the situation in which intellectually bankrupt ideas could prevail much like Catholicism prevailed during Dark Ages in Europe. In a way, this is return to Dark Ages on a new level." [6]

Trotsky's elitism and contempt for the masses led naturally to neoliberalism. As M.J. Olgin pointed out: Today Trotskyism no more confines itself to "informing" the bourgeoisie. Today Trotskyism is the center and the rallying point for the enemies of the Soviet Union, of the proletarian revolution in capitalist countries, of the Communist International. Trotskyism is trying not only to disintegrate the dictatorship of the proletariat in the Soviet Union, but also to disintegrate the forces that make for the dictatorship of the proletariat the world over. [7]

Neoliberalism also borrows from the ideology of fascism. As Giovanni Gentile, "The Philosopher of Fascism" expressed in a quote often attributed to Mussolini: "Fascism should more properly be called corporatism , since it is the merger of state and corporate power." Gentile also stated in The Origins and Doctrine of Fascism , that "mankind only progresses through division, and progress is achieved through the clash and victory of one side over another." [8]

Neoliberalism is a new form of corporatism based on the ideology of market fundamentalism, dominance of finance and cult of rich ("greed is good") instead of the ideology on racial or national superiority typical for classic corporatism. Actually, some elements of the idea of "national superiority" were preserved in a form superiority of "corporate management" and top speculators over other people. In a way, neoliberalism considers bankers and corporations top management to be a new Aryan race. As it relies on financial mechanisms and banks instead of brute force of subduing people the practice of neoliberalism outside of the G7 is also called neocolonialism. Neoliberal practice within G7 is called casino capitalism, an apt term that underscore [s] the role of finance and stock exchange in this new social order. Neoliberalism is an example of emergence of ideologies not from their persuasive power or inner logic, but from the private interests of ruling elite. Political pressure and money created the situation in which intellectually bankrupt ideas could prevail .

Neoliberalism is not a collection of theories meant to improve the economy. Instead, it should be understood as a class strategy designed to redistribute wealth upward toward an increasingly narrow fraction of population (top 1%). It is the Marxist idea of "class struggle" turned on its head and converted into a perverted "revolt of the elite," unsatisfied with the peace of the pie it is getting from the society. While previously excessive greed was morally condemned, neoliberalism employed a slick trick of adopting "reverse," Nietzschean Ubermench morality in bastartized form propagated in the USA under the name of Randism. [9]

This neoliberal transformation of the society into a top 1% (or, more correctly, 0.01%) "have and have more" and "the rest" undermined and exploited by financial oligarchy with near complete indifference to what happens with the most unprotected lower quintile of the population. The neoliberal reformers don't care about failures and contradictions of the economic system which drive the majority of country population into abject poverty, as it happened in Russia. Nor do they care about their actions such as blowing financial bubbles, like in the USA in 2008 can move national economics toward disaster. They have a somewhat childish, simplistic "greed is good" mentality: they just want to have their (as large as possible) piece of economic pie fast and everything else be damned. In a way, they are criminals and neoliberalism is a highly criminogenic creed, but it tried to conceal the racket and plunder it inflicts of the societies under the dense smoke screen of "free market" newspeak.

That means that in most countries neoliberalism is an unstable social order as plunder can't continue indefinitely. It was partially reversed in Chile, Russia, and several other countries. It was never fully adopted in northern Europe.

One can see an example of this smoke screen in Thatcher's dictum of neoliberalism: "There is no such thing as society. There are only individuals and families." In foreign policy neoliberalism behaves like brutal imperialism which subdue countries either by debt slavery or direct military intervention. In a neoliberal view the world consist of four concentric cycles which in order of diminishing importance are .

Finance is accepted as the most important institution of the civilization which should govern all other spheres of life. It is clear that such a one-dimensional view is wrong, but neoliberals like communists before them have a keen sense of mission and made its "long march through the institutions" and changed the way Americans think (Using the four "M" strategy -- money, media, marketing, and management)

A well-oiled machine of foundations, lobbies, think-tanks, economic departments of major universities, publications, political cadres, lawyers and activist organizations slowly and strategically took over nation after nation. A broad alliance of neo-liberals, neo-conservatives and the religious right successfully manufactured a new common sense, assaulted Enlightenment values and formed a new elite, the top layer of society, where this "greed is good" culture is created and legitimized. [10]

Donald Trump is a visible product of this culture, but clearly is not the choice of the elite ruling class to serve as their "front man" for President. Rather, his role seems to have been to polarize the electorate in such a way as to assure Hillary Clinton the election, just as Bernie Sanders played a role of mobilizing the left-neoliberal camp and then sheep-dogging it into Hillary's camp. As Bruce A. Dixon explained:

" Bernie Sanders is this election's Democratic sheepdog. The sheepdog is a card the Democratic party plays every presidential primary season when there's no White House Democrat running for re-election. The sheepdog is a presidential candidate running ostensibly to the left of the establishment Democrat to whom the billionaires will award the nomination. Sheepdogs are herders, and the sheepdog candidate is charged with herding activists and voters back into the Democratic fold who might otherwise drift leftward and outside of the Democratic party, either staying home or trying to build something outside the two-party box." [11]

Once you realize what the principle contradiction in the world is, and how the game of bourgeois "democracy" is played, the current election become as predictable and blatantly scripted as professional wrestling. As Victor Wallace explained:

"An extraordinary feature of the U.S. electoral process is that the two dominant parties collude to dictate – via their own bipartisan "commission" – who is allowed to participate in the officially recognized presidential debates. Needless to say, the two parties set impossible barriers to the participation of any candidates other than their own . Most potential voters are thereby prevented from acquainting themselves with alternatives to the dominant consensus.

"This practice has taken on glaring proportions in the 2016 campaign, which has been marked by justified public distrust of both the dominant-party tickets. Preventing election-theft would initially require breaking up the bipartisan stranglehold over who can access the tens of millions of voters.

"Another distinctive U.S. trait is the absence of any constitutional guarantee of the right to vote. Instead, a multiplicity of state laws govern voter-eligibility, as well as ballot-access. A few states set ballot-access requirements so high as to effectively disqualify their residents from supporting otherwise viable national candidacies. As for voter-eligibility, it is deliberately narrowed through the time-honored practice of using "states' rights" to impose racist agendas. Most states deny voting rights to ex-convicts, a practice that currently disenfranchises some 6 million citizens, disproportionately from communities of color. More recently, targeting the same constituencies, many states have passed onerous and unnecessary voter-ID laws.

"The role of money in filtering out viable candidacies is well known. It was reinforced by the Supreme Court's Citizens United decision of 2010, which opened the gate to unlimited corporate contributions.

"The priorities of corporate media point in a similar direction. Even apart from their taste for campaign-advertising, their orientation toward celebrity and sensationalism prompts them to give far more air-time to well known figures – the more outrageous, the better – than to even the most viable candidates who present serious alternatives. Trump's candidacy was thus "made" by the media, even as they kept the Sanders challenge to Clinton as deep in the shadows as possible ." [12]

Moreover, the media, which in the U.S. is 90% owned by just six mega-corporations, [13] cooperates closely with the dominant establishment of the two parties in framing the questions that are posed in the debates. And they explicitly maintain the fiction that the "commission" running the debates is "non-partisan" when in fact it is bipartisan. [14]

"Turning finally to the voting process itself, the longest-running scandal is the holding of elections on a workday. In recent years, the resulting inconvenience has been partially offset by the institution of early voting, which however has the disadvantage of facilitating premature choices and of being subject to varied and volatile rules set by state legislatures.

"The actual casting of votes on Election Day is further subject to a number of possible abuses. These include: 1) insufficient polling places in poor neighborhoods, sometimes resulting in waiting periods so long that individuals no longer have the time to vote; 2) the sometimes aggressive challenging of voters' eligibility by interested parties; 3) the use of provisional ballots which may easily end up not being counted; and 4), perhaps most significantly, the increasingly complete reliance on computerized voting, which allows for manipulation of the results (via "proprietary" programs) in a manner that cannot be detected. (The probability of such manipulation – based on discrepancies between exit-polls and official tallies – was documented by Marc Crispin Miller in his book on the 2004 election.

"The corporate media add a final abuse in their rush – in presidential races – to announce results in some states before the voting process has been completed throughout the country." [15]

Despite multiple releases of hacked e-mails by WikiLeaks revealing the whole process in detail, it seems to have little effect on the masses or on the game. The most recent batch come from Obama's personal e-mail account and reveal that the Bush administration contacted the future president multiple times before the election in 2008, secretly organizing the transition of power. In one e-mail President Bush states:

" We are now at the point of deciding how to staff economic policy during the transition, who should be the point of contact with Treasury and how to blend the transition and campaign economic policy talent.

Normally these decisions could be made after the election, and ideally after the selection of a National Economic Advisor, but, of course, these are not normal times. " [16]

.... ... ...

The illusion of "democracy" is wearing thin:

Former president Jimmy Carter said Tuesday on the nationally syndicated radio show the Thom Hartmann Program that the United States is now an "oligarchy" in which "unlimited political bribery" has created "a complete subversion of our political system as a payoff to major contributors ." Both Democrats and Republicans, Carter said, "look upon this unlimited money as a great benefit to themselves."

Carter was responding to a question from Hartmann about recent Supreme Court decisions on campaign financing like Citizens United .

Transcript:

... ... ...

Kevin "Rashid" Johnson is the Minister of Defense, New African Black Panther Party (Prison chapter)

[Jan 26, 2019] Can the current US neoliberal/neoconservative elite be considered suicidal?

Highly recommended!
Can the elite be afflicted by some mass disease. Is Neoconservatism a deadly infection ?
Theoretically Democracy depends on information freely available and responsibility of the citizenry to make decisions based on that information. The political elites have made certain precious little of reliable, unclouded and relevant information ever gets broadcast even while popularizing, promoting and rewarding every form of misrepresentation, ignorance and irresponsibility. In other words they spearheaded a dangerous disease to stay in power. And eventually got infected themselves.
Notable quotes:
"... "But what if the elites get things wrong? What if the policies they promulgate produce grotesque inequality or lead to permanent war? Who then has the authority to disregard the guardians, if not the people themselves? How else will the elites come to recognize their folly and change course?" ..."
"... That is how they maintain control and manipulate government to facilitate their own interests to the detriment of the rest of society. Bretix and President Trump have upset their apple cart, which they felt certain was invulnerable and immune to challenge. ..."
"... The elites aren't interested in polls showing Americans want out of Syria and Afghanistan, are they? Can't have mere citizens having influencing decisions like that. ..."
"... An excellent piece. I would add only that the so-called elites mentioned by Mr Bacevich are largely the products of the uppermost stratum of colleges and universities, at least in the USA, and that for a generation or more now, those institutions have indoctrinated rather than educated. ..."
"... As their more recent alumni move into government, media and cultural production, the primitiveness of their views and their inability to think - to say nothing of their fundamental ignorance about our civilization other than that it is bad and evil - begin to have real effect. ..."
Jan 20, 2019 | www.theamericanconservative.com

Kent January 18, 2019 at 11:30 am

"But what if the elites get things wrong? What if the policies they promulgate produce grotesque inequality or lead to permanent war? Who then has the authority to disregard the guardians, if not the people themselves? How else will the elites come to recognize their folly and change course?"

What if, on election day, you only have a choice between 2 candidates. Both favoring all the wrong choices, but one tends to talk up Christianity and family and the other talks up diversity.

And both get their funding from the very wealthy and corporations. And any 3rd choices would be "throwing your vote away". How would you ever get to vote for someone who might change course?

Democracy has little to actually do with choice or power.

mlopez, January 18, 2019 at 6:22 pm

GB may not have been any utopia in 1914, but it was certainly geo-politically dominant. It's common people's social, economic and cultural living standards most assuredly was vastly improved over Russian, or European peasants. There can be no serious comparison with third world countries and regions.

As for the US, there can be absolutely no debate about its own dominance, or material standard of living after 1945 as compared to any where else in the world. More importantly, even uneducated and very contemporary observers were capable of recognizing how our elites had sold out their interests in favor of the furtherance of their own.

If we are on about democratic government, then it's been generations since either country and their peoples have had any real democracy. Democracy depends on information freely available and responsibility of the citizenry to make decisions based on that information. The political elites have made certain precious little of reliable, unclouded and relevant information ever gets broadcast even while popularizing, promoting and rewarding every form of misrepresentation, ignorance and irresponsibility.

That is how they maintain control and manipulate government to facilitate their own interests to the detriment of the rest of society. Bretix and President Trump have upset their apple cart, which they felt certain was invulnerable and immune to challenge.

Hello / Goodbye, January 19, 2019 at 11:40 am

The elites aren't interested in polls showing Americans want out of Syria and Afghanistan, are they? Can't have mere citizens having influencing decisions like that.

Patzinak, January 19, 2019 at 5:07 pm

What ineffable flummadiddle!

Prominent Brexiteers include Boris Johnson (dual UK/US citizenship, educated in Brussels and at Eton and Oxford, of mixed ancestry, including a link - by illegitimate descent - to the royal houses of Prussia and the UK); Jacob Rees-Mogg (son of a baron, educated at Eton and Oxford, amassed a solid fortune via hedge fund management); Arron Banks (millionaire, bankroller of UKIP, made to the Brexit campaign the largest ever political donation in UK politics).

So much for "the elite" being against Brexit!

But the main problem with Brexit is this. Having voted by a slim margin in favour of Brexit, the Great British Public then, in the general election, denied a majority to the government that had undertaken to implement it, and elected a Parliament of whom, by a rough estimate, two thirds oppose Brexit.

It ain't that "the elite" got "things wrong". It's that bloody Joe Public can't make his mind what to do - and go through with it.

Rossbach, January 20, 2019 at 2:14 pm

"Whether the imagined utopia of a dominant Great Britain prior to 1914 or a dominant America after 1945 ever actually existed is beside the point."

It wasn't to restore any defunct utopia that led people to vote for Brexit or Donald Trump; it was to check the descent of the Anglosphere into the totalitarian dystopia of forced multi-cultural globalism that caused voters to reject the EU in Britain and Hillary Clinton in the US. It is because they believed that only with the preservation of their national independence was there any chance or hope for a restoration of individual liberty that our people voted as they did.

Ratings System, January 17, 2019 at 1:27 pm

It's why they won't enjoy their privileges much longer. That stale charade can't and won't last.

We don't have a meritocracy. We have a pseudo-meritocracy with an unduly large contingent of aliens, liars, cheats, frauds, and incompetents. They give each other top marks, speak each other's PC language, and hire each other's kids. And they don't understand why things are falling apart, and why they are increasingly hated by real Americans.

A very nasty decade or two is coming our way, but after we've swept out the filth there will be a good chance that Americans will be Americans again.

Paul Reidinger, January 17, 2019 at 2:03 pm

An excellent piece. I would add only that the so-called elites mentioned by Mr Bacevich are largely the products of the uppermost stratum of colleges and universities, at least in the USA, and that for a generation or more now, those institutions have indoctrinated rather than educated.

As their more recent alumni move into government, media and cultural production, the primitiveness of their views and their inability to think - to say nothing of their fundamental ignorance about our civilization other than that it is bad and evil - begin to have real effect. The new dark age is no longer imminent. It is here, and it is them. I see no way to rectify the damage. When minds are ruined young, they remain ruined.

[Jan 24, 2019] Stockman about Vichy left

Jan 24, 2019 | www.moonofalabama.org

mauisurfer , Jan 23, 2019 11:02:14 AM | link

best ever from Stockman

Trump Derangement Syndrome and the NATO Fetish of the Progressive Left
by David Stockman Posted on January 23, 2019

https://original.antiwar.com/David_Stockman/2019/01/22/trump-derangement-syndrome-and-the-nato-fetish-of-the-progressive-left/

[Jan 24, 2019] No One Said Rich People Were Very Sharp Davos Tries to Combat Populism by Dean Baker

Highly recommended!
Notable quotes:
"... the Davos crew is trying to combat populism, according to The Washington Post . It is kind of amazing that the rich people at Davos would not understand how absurd this is. ..."
"... The real incredible aspect of Davos is that so many political leaders and news organizations would go to a meeting that is quite explicitly about rich people trying to set an agenda for the world. ..."
"... It is important to remember, the World Economic Forum is not some sort of international organization like the United Nations, the OECD, or even the International Monetary Fund. It is a for-profit organization that makes money by entertaining extremely rich people. The real outrage of the story is that top political leaders, academics, and new outlets feel obligated to entertain them. ..."
"... Davos ought to be treated as a conspiracy against labor, representative government, environmental regulation and decent living standards, but of course our admiring national press corps doesn't see it that way -- their bosses attend, after all. ..."
"... It may be best to avoid the term "populist" because it tends to be applied indiscriminately to the likes of Trump and to leftist reformers. Or if it is used for Trump it should be "fake populist". Opposition to corporatist globalization can be populistic, but Trump's version so far has been mostly fake. ..."
"... Two kinds of populism: rightwing populism (which often looks like fascism) and leftwing populism. They are quite different critters and they don't have a lot to do with each other though they agree on a few things. ..."
"... People REALLY need to re-read 1984 & refresh their memories of Orwellian good-is-bad brainwashing ..."
"... Trump is a rightwing populist, but it is very confusing. In the US anyway and often in general, rightwing populists are NOT the enemies of the rich. Note Mussolini and Hitler. Fascism really is a type of rightwing populism. ..."
"... Rightwing populism pretends to be for the people and is to some extent (protectionism, isolationalism, nationalism) but in a lot of other ways, it's just fake and it's always a cover for class rule and rule by the rich. ..."
"... The rich will go to fascism or rightwing populism if they get a threat from the Left (read Trotsky), but they don't really like them very much, think they are classless brutes, barbarians, racists, bigots, etc. ..."
"... They're not worried about Donnie. He's no class traitor. They're worried about the populism of the Left and possibly about rightwing populism in Europe. Bolzonaro and Trump are hardly threats to capital. ..."
"... He pretends to be a populist because it helps him. For example, he doesn't care about illegal immigration. He's been happy to hire undocumented workers his whole life, even now in office. But it gets his base fired up so he rails about immigration. He has no ideology, he will use whatever helps him. ..."
"... Rightwing populism is NOT cool in my boat. Rightwing populism is Bolsonaro. It's Duterte too, but that's a bit different, he's a bit more pro-people. Erdogan is a rightwing populist too, but he's rather socialist. Marie Le Pen is out and out socialist and she gets called rightwing populist. Orban is 5X more socialist than Venezuela and he gets called rightwing populist. It's all very confusing. ..."
"... But in the US and Latin America, rightwing populism is ugly stuff all right, and it tends to be associated with fascism! ..."
Jan 22, 2019 | cepr.net
Let's see, cattle ranchers are against vegetarianism, coal companies are against restricting CO2 emissions, and the Davos crew is trying to combat populism, according to The Washington Post . It is kind of amazing that the rich people at Davos would not understand how absurd this is.

Yeah, we get that rich people don't like the idea of movements that would leave them much less rich, but is it helpful to their cause to tell us that they are devoting their rich people's conference to combating them? The real incredible aspect of Davos is that so many political leaders and news organizations would go to a meeting that is quite explicitly about rich people trying to set an agenda for the world.

It is important to remember, the World Economic Forum is not some sort of international organization like the United Nations, the OECD, or even the International Monetary Fund. It is a for-profit organization that makes money by entertaining extremely rich people. The real outrage of the story is that top political leaders, academics, and new outlets feel obligated to entertain them.


pieceofcake pieceofcake a day ago ,

And the fact that so many Americans -(and especially American workers) still mistake Von Clownstick as a so called ''Populist'' - and being on their side - is... unbearable!

Robert Lindsay pieceofcake 12 hours ago ,

He IS in fact a rigthwing populist of a sort. That's what rightwing populism in the US looks like, and what it's always looked like. Bunch of crap huh? Gimme Marie Le Pen any day.

Woodshedding a day ago ,

"The real incredible aspect of Davos is that so many political leaders and news organizations would go to a meeting that is quite explicitly about rich people trying to set an agenda for the world." \

Agreed - like how people almost worship British Royals.. or American celebrities... and yet, unfortunately, isn't it true that the greedmongers at Davos are not "trying," but rather "largely succeeding" at setting said world agenda?

Robert Lindsay pieceofcake 12 hours ago ,

Trump is a rightwing populist in fact. Nasty critters, aren't they?

pieceofcake Robert Lindsay 7 hours ago ,

''Nasty critters, aren't they''?

Yes!

Dwight Cramer 2 days ago ,

Nothing to see here, folks, move right along . . .

Davos and TED Talks. One entertains the rich, the other the smart. The skiing is better at Davos, the ideas are better at a TED Talk. Just remember, most of the rich aren't smart and most of the smart aren't rich. So it's all rather silly, 'though it's easier to get rich if you're smart than it is to get smart if you're rich. Don't ask me how I know that, but I'll tell you, if you have an ounce of human kindness in you, learning the second half of that lesson is more painful than the first.

None of this would be half as much fun outside the glare of publicity, or if not heavily spiced with the envy of the excluded.

Ishi Crew Dwight Cramer 19 hours ago ,

in my view half of ted talks are extremely stupid; the other half are basic 101 (eg j Hari).

Dwight Cramer Ishi Crew 17 hours ago ,

Ishi--I don't disagree with you. Just not as stupid as the Davos drivel. Perhaps I should have said 'less bad' ideas, but I liked the cadence of 'better' and 'better.' Gotta have cadence if you want to get the People Marching.

jake • 2 days ago ,

Davos ought to be treated as a conspiracy against labor, representative government, environmental regulation and decent living standards, but of course our admiring national press corps doesn't see it that way -- their bosses attend, after all.

pieceofcake jake 2 days ago ,

Firstly we have to treat the so called ''Populists'' as a conspiracy against labor - because they pretended in the utmost conspirational way to be on labors side.

While It always was as clear as mud that Davos was a Party of the Rich!

skeptonomist pieceofcake 2 days ago ,

It may be best to avoid the term "populist" because it tends to be applied indiscriminately to the likes of Trump and to leftist reformers. Or if it is used for Trump it should be "fake populist". Opposition to corporatist globalization can be populistic, but Trump's version so far has been mostly fake.

Robert Lindsay skeptonomist 12 hours ago ,

You guys need to read up. Two kinds of populism: rightwing populism (which often looks like fascism) and leftwing populism. They are quite different critters and they don't have a lot to do with each other though they agree on a few things.

Woodshedding skeptonomist a day ago ,

That's basically my take, too. The term is purposely misused by the propagandists to get normal people thinking "Populism" must be something they don't like. People REALLY need to re-read 1984 & refresh their memories of Orwellian good-is-bad brainwashing. [and even "brainwashing" is an orwellian term! Brain-NUMBING, maybe... but nothing's getting cleaned, that's for sure]

Robert Lindsay Woodshedding 12 hours ago ,

Nope US rightwing populism has often looked a lot like Trump's crap. I mean some of it was better. I have a soft spot for Huey Long. But in the US, rightwing populism just helps the rich mostly and it tends to be fascist.

pieceofcake Woodshedding a day ago ,

''The term is purposely misused by the propagandists to get normal people thinking "Populism" must be something they don't like'' You mean some con-artists have conned people who liked the term ''Populism'' into liking idiocy - racism and nationalism?.

Robert Lindsay pieceofcake 12 hours ago ,

Rightwing populism is indeed often nationalism + racism. That's how it works.

pieceofcake skeptonomist 2 days ago ,

- ''it tends to be applied indiscriminately to the likes of Trump and to leftist reformers''.

Only some very Confused (Americans?) confuse Idiotic (''Rightwing) ''Populists'' with Social (Leftwing) ''Socialists''.

Robert Lindsay pieceofcake 12 hours ago ,

Rightwing populists are indeed a thing. Wikipedia is your friend. Just because they suck ass doesn't mean they don't exist, comrade.

It's very common to get mixed up about the types of populism and jumble them all together though.

Robert Lindsay pieceofcake 3 hours ago ,

Trump is a rightwing populist, but it is very confusing. In the US anyway and often in general, rightwing populists are NOT the enemies of the rich. Note Mussolini and Hitler. Fascism really is a type of rightwing populism.

Rightwing populism pretends to be for the people and is to some extent (protectionism, isolationalism, nationalism) but in a lot of other ways, it's just fake and it's always a cover for class rule and rule by the rich.

The rich will go to fascism or rightwing populism if they get a threat from the Left (read Trotsky), but they don't really like them very much, think they are classless brutes, barbarians, racists, bigots, etc.

But the rich allow them because they think they can control them and not let them get out of hand. This is what happened in Germany. This is what often happens actually.

In a sense, rightwing populism IS fake populism because it pretends to be for the people while often fucking them over with rightwing class rule via fascism. It's still populism, it's just not for the people. It's fraudulent, iike most rightwing bullshit.

pieceofcake 2 days ago ,

- AND! -
to suggest - or imply? - that the type of ''Populism'' Trump -(and other so called ''Populists) represent - IS to ''leave the Davos Crowd much less rich'' -
could be the funniest thing ever written on this blog?

Robert Lindsay pieceofcake 12 hours ago ,

They're not worried about Donnie. He's no class traitor. They're worried about the populism of the Left and possibly about rightwing populism in Europe. Bolzonaro and Trump are hardly threats to capital.

Lord Koos pieceofcake 2 days ago ,

Trump is not a populist, even if he appeals to them. He's a very wealthy man who looks out for his rich friends.

DAS Lord Koos 8 hours ago ,

He pretends to be a populist because it helps him. For example, he doesn't care about illegal immigration. He's been happy to hire undocumented workers his whole life, even now in office. But it gets his base fired up so he rails about immigration. He has no ideology, he will use whatever helps him.

Robert Lindsay Lord Koos 12 hours ago ,

He actually has a lot of traits of a rightwing populist, US style, but then that's always been a suckhole anyway.

pieceofcake Lord Koos 2 days ago ,

''Trump is not a populist, even if he appeals to them. He's a very wealthy man who looks out for his rich friends''.

How true - but as most of the current so called ''Populists'' are just as ''non-populist'' as Trump - it might be time to find a new ''expression''.

Robert Lindsay pieceofcake 3 hours ago ,

Typical rightwing populism, which isn't really pro-people anyway, just another rightwing fraud.

pieceofcake pieceofcake 2 days ago ,

and to makes sure not to be misunderstood - I also think Davos is ''pathetic'' and ''hypocritical'' - and everything else one wants to throw at it -
BUT as one of my favorite American Philosophers said:

"Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity."

And I think he meant the current ''Populists'' of this planet! -(and lets include especially the Brazilian one too)

pieceofcake 2 days ago ,

But isn't it GREAT- that also ''the rich'' are starting to battle morons and a...holes like Baron von Clownsticks -(or the nationalistic idiots in the UK - or the Neo Nazis in Germany?) -

For I while I thought I was left ALL alone in order to battle the type of ''Populism''- which is nothing else than the sick racist phantasies of some nationalistic a...holes?

Robert Lindsay pieceofcake 12 hours ago ,

Rightwing populism is NOT cool in my boat. Rightwing populism is Bolsonaro. It's Duterte too, but that's a bit different, he's a bit more pro-people. Erdogan is a rightwing populist too, but he's rather socialist. Marie Le Pen is out and out socialist and she gets called rightwing populist. Orban is 5X more socialist than Venezuela and he gets called rightwing populist. It's all very confusing.

But in the US and Latin America, rightwing populism is ugly stuff all right, and it tends to be associated with fascism!

[Jan 23, 2019] When neoliberalism became the object of jokes, it is clear that its time has passed

Highly recommended!
Jan 23, 2019 | crookedtimber.org

Likbez, Jan 22, 2019

I would also say ideas like people age and gradually become irrelevant no matter how strongly they are propelled by the power of the state and MSM. When neoliberalism became the object of jokes, it is clear that its time has passed.

Neoliberal ideology experienced a severe crisis in 2007 and was by-and-large discredited.

But Neoliberalism as a social system is resilient and can continue to exist for some time even after ideology itself was discredited. Probably 30-50 years, if we think that neoliberalism is a perverted flavor of Trotskyism (Financial elite of all countries unite; Permanent neoliberal revolution until the global victory of neoliberalism) and Bolshevism lasted 50 years after the crisis of its ideology in early 60th.

So I think that neoliberalism entered its "zombie phase." It became more bloodthirsty, aggressive (look at Trump) and even managed to stage revenge in Argentina and Brasil deposing less neoliberal governments with hardcore neoliberal.

But ideas age and die like people and in 2019 the ideas of neoliberalism are essentially dead. So now it is clinging by the pure power of propaganda and coercion. That is the road to nowhere, and I expect this neoliberalism position in the USA will be further undermined by-elections of 2020. Maybe tax regime will start to change to byte top 1%, and maybe there is be local and quickly suppressed insurrections/strikes, like in France; I do not know. But with the level of inequality intact, the cracks might widen.

Degeneration of the neoliberal elite (Trump, Pelosi, Schumer, Pompeo, etc.) is another obvious problem. Filters work in such a way that capable (and this potentially dangerous to the system) people are eliminated at early stages of political selection. That might s danger for the USA is not so distant future as a viable, cohesive society and currently, the Congress really reminds Soviet Politburo. Bunch on Mayberry Machiavelli.

At least in Australia politicians started openly discuss alternatives. Here in the USA, there is dead silence. That means that the Congress is a part of the problem, not a part of the solution.

Another problem is with the level of militarism in the USA society. The size of MIC is a huge problem and like cancer is curable only by surgical means. The fact is that politicians are arguing about 5 billion wall which is something like one percent of F35 program cost ( https://www.bloomberg.com/news/articles/2017-07-10/f-35-program-costs-jump-to-406-billion-in-new-pentagon-estimate )

At this point, people stop to trust both politicians and MSM re-defining them as "fake news" which means the crisis of legitimacy of the neoliberal elite. And I think that the USA either reached this point or is very close.

That's why the US neoliberal elite decided to cement the cracks in the neoliberal ideological façade via Russophobia in best neo-McCarthyism fashion. The idea is to define the common enemy and mobilizing the society against it, leaving internal frictions on the "day after." But it looks like neoliberalism which Sheldon Wolin defined as "inverted totalities" is bad on mass mobilization. It no longer can produce slogans or politician who can ignite passion of common people. Obama was a fake. So is Trump.

And Russiagate gambit produced some unwanted to neoliberals externalities like the society attention to intelligence-driven machinations and their role as a political force under neoliberalism. Including the role of British intelligence services.

[Jan 22, 2019] The French Anti-Neoliberal Revolution. On the conditions for its success by Dimitris Konstantakopoulos

Highly recommended!
Notable quotes:
"... The French bourgeoisie is the politically most experienced ruling class in Europe. It has no illusions about the challenge it faces. Le Point put its file on the revolt of the vests under the self-telling title "What is waiting us". ..."
"... But it's not only the king who is naked. The whole system is naked. In the many pages devoted by the magazine to demonstrate that what the Vests want is unfeasible, not even a single serious word is written about what needs to be done to deal with the deep causes which led the French to revolt. Today's capitalism of Macron, Merkel and Trump does not produce a Roosevelt and New Deal or Popular Fronts – and we have to wait to see if it will produce a Hitler as some are trying to achieve. For the time being, it only produces Yellow Vests! ..."
"... In Oscar Wilde's masterpiece "The Picture of Dorian Gray", the main character looks every night at his horrible real self in the mirror. But he looks at it alone. ..."
"... This is where Macron made his most fatal mistake, being arrogant and markedly cut off from reality – with the confidence given to him by the mighty elite forces, which elected him and by his contempt of the common people which characterizes him. ..."
"... Observing Macron, the people understood what lied ahead for them. They felt their backs against the wall – they felt that they had only themselves to rely on, that they had to take themselves action to save themselves and their country. ..."
"... This was the decisive moment, the moment the historical mission of Macron was achieved . By establishing the most absolute control of Finance over Politics, he himself invited Revolution. His triumph and his tragedy came together. ..."
"... Many established "leftists" or "radical" intellectuals, who used to feverishly haul capitalism over the coals – although the last thing they really wanted was to experience a real revolution during their lifetime – they too, stand now frightened, looking at an angry Bucephalus running ahead of them. They prefer a stable capitalism, of which they can constitute its "consciousness", writing books, appearing on shows and giving lectures, analyzing its crises and explaining its tribulations. They idea that the People could at some point take seriously what they themselves said, never crossed their minds either! ..."
"... Today, four out of five French people disapprove of Macron's policies and one in two demands that he resigns immediately. We assume that this percentage is greater than the percentage of Russians who wanted the ousting of Tsar Nicholas II in February 1917. ..."
"... France is currently almost in a state of Power Vacuum . The president and the government cannot in essence govern and the people cannot tolerate them. It is not a situation of dual power, but a situation of dual legitimacy , in Mélenchon 's accurate description. ..."
"... This is a typical definition of a revolutionary situation . As history teaches us, the emergence of such a situation is necessary but not sufficient condition for a victorious Revolution. What is required in or order to turn a rebellion into a potentially victorious Revolution, is a capable and decided leadership and an adequate strategy, program and vision. These elements do not seem to exist, at last not for now, in today's France, as they did not exist in May 1968 or during the Russian Revolution of February 1917. Therefore, the present situation remains open to all possible eventualities; there must be no doubt however, that this is the beginning of a period of intense political and class conflicts in Europe, and that the Europe, as we know it, is already history. ..."
"... Or at least, for the people to be given the opportunity to develop an effective way of controlling state power. ..."
"... By reversing Marx's famous formula in German Ideology , the ideas of the dominant class do not dominate society. This is why the situation can be described as revolutionary. ..."
"... Although it is difficult to form an opinion from afar about how the situation may unfold, the formation of a such a United Front from grassroots could perhaps offer a way out with regards to the need for a political leadership for the movement, or even of the need to work out a transitional economic program for France, which must also serve as a transitional program for Europe . ..."
"... Contrary to how things were a century ago, certain factors such as the educational level of the lower social classes, the existence of a number of critical, radical thinkers with the necessary intellectual skills and the Internet, render such a possibility a much more realistic scenario today, than in the past. ..."
Jan 14, 2019 | www.defenddemocracy.press

The magazine Le Point is one of the main media outlets of the French conservative "centre-right". One of its December issues carries the cover title France Faces its History. 1648, 1789, 1830, 1848, 1871 four centuries of revolutions.

The cover features also a painting by Pierre-Jérôme Lordon, showing people clashing with the army at Rue de Babylone , in Paris, during the Revolution of 1830. Perhaps this is where Luc Ferry, Chirac's former minister, got his idea from, when, two days ago, he asked the Army to intervene and the police to start shooting and killing Yellow Vests.

Do not be surprised if you haven't heard this from your TV or if you don't know that the level of police repression and violence in France, measured in people dead, injured and arrested, has exceeded everything the country has experienced since 1968. Nor should you wonder why you don't know anything about some Yellow Vest's new campaign calling for a massive run on French banks. Or why you have been lead you to believe that the whole thing is to do with fuel taxes or increasing minimum wage.

The vast majority of European media didn't even bother to communicate to their readers or viewers the main political demands of the Yellow Vests ; and certainly, there hasn't been any meaningful attempt to offer an insightful interpretation of what's happening in France and there is just very little serious on-the-ground reporting, in the villages and motorways of France.

Totalitarianism

Following Napoleon's defeat in Waterloo, European Powers formed the Holy Alliance banning Revolutions.

Nowadays, Revolutions have just been declared inconceivable (Soros – though not just him – has been giving a relentless fight to take them out of history textbooks or, as a minimum, to erase their significance and meaning). Since they are unthinkable they cannot happen. Since they cannot happen they do not happen.

In the same vein, European media sent their journalists out to the streets in Paris on Christmas and New Year's days, counted the protesters and found that they weren't too many after all. Of course they didn't count the 150,000 police and soldiers lined up by Macron on New Year's Eve. Then they made sure that they remain "impartial" and by just comparing numbers of protesters, led viewers to think that we are almost done with it – it was just a storm, it will pass.

The other day I read a whole page article about Europe in one of the most "serious" Greek newspapers, on 30.12. The author devoted just one single meaningless phrase about the Vests. Instead, the paper still found the way to include in the article the utterly stupid statement of a European Right-Wing politician who attributed the European crisis to the existence of Russia Today and Sputnik! And when I finally found a somewhat more serious article online about the developments in France, I realized that its only purpose was to convince us that what is happening in France surely has nothing to do with 1789 or 1968!

It is only a pity that the people concerned, the French themselves, cannot read in Greek. If they could, they would have realized that it does not make any sense to have "Revolution" written on their vests or to sing the 1789 song in their demonstrations or to organize symbolic ceremonies of the public "decapitation" of Macron, like Louis XV. And the French bourgeois press would not waste time everyday comparing what happens in the country now with what happened in 1968 and 1789.

Totalitarianism is not just a threat. It's already here. Simply it has omitted to announce its arrival. We have to deduce its precence from its results.

A terrified ruling class

The French bourgeoisie is the politically most experienced ruling class in Europe. It has no illusions about the challenge it faces. Le Point put its file on the revolt of the vests under the self-telling title "What is waiting us".

A few months ago, all we had about Macron in the papers was praise, inside and outside of France – he was the "rising star" of European politics, the man who managed to pass the "reforms" one after the other, no resistance could stop him, he would be the one to save and rebuild Europe. Varoufakis admired and supported him, as early as of the first round of the 2017 elections.

Now, the "chosen one" became a burden for those who put him in office. Some of them probably want to get rid of him as fast as they can, to replace him with someone else, but it's not easy – and even more so, it is not easy given the monarchical powers conferred by the French constitution to the President. The constitution is tailored to the needs of a President who wants to safeguard power from the people. Those who drafted it could not probably imagine it would make difficult for the Oligarchy also to fire him!

Read also: Scandaleux : le fondateur du parti fasciste ukrainien Svoboda reçu à l'Assemblée et au Sénat !

And who would dare to hold a parliamentary or presidential election in such a situation, as in France today? No one knows what could come out of it. Moreover, Macron does not have a party in the sense of political power. He has a federation of friends who benefit as long as he stays in power and they are damaged when he collapses.

The King is naked

"The King is naked", points out Le Point's editorial, before, with almost sadistic callousness, posing the question: "What can a government do when a remarkable section of the people vomits it?"

But it's not only the king who is naked. The whole system is naked. In the many pages devoted by the magazine to demonstrate that what the Vests want is unfeasible, not even a single serious word is written about what needs to be done to deal with the deep causes which led the French to revolt. Today's capitalism of Macron, Merkel and Trump does not produce a Roosevelt and New Deal or Popular Fronts – and we have to wait to see if it will produce a Hitler as some are trying to achieve. For the time being, it only produces Yellow Vests!

They predicted it, they saw it coming, but they didn't believe it!

Yet they could have predicted all that. It would have sufficed, had they only taken seriously and studied a book published in France in late 2016, six months before the presidential election, highlighting the explosive nature of the social situation and warning of the danger of revolution and civil war.

The title of the book was "Revolution". Its author was none other than Emmanuel Macron himself. Six months later, he would become the President of France, to eventually verify, and indeed rather spectacularly, his predictions. But the truth is probably, that not even he himself gave much credit to what he wrote just to win the election.

By constantly lying, politicians, journalists and intellectuals reasonably came to believe that even their own words are of no importance. That they can say and do anything they want, without any consequence.

In Oscar Wilde's masterpiece "The Picture of Dorian Gray", the main character looks every night at his horrible real self in the mirror. But he looks at it alone.

This is where Macron made his most fatal mistake, being arrogant and markedly cut off from reality – with the confidence given to him by the mighty elite forces, which elected him and by his contempt of the common people which characterizes him.

Unwise and Arrogant, he made no effort to hide – this is how sure he felt of himself, this is how convinced his environment was that he could infinitely go on doing anything he wanted without any consequences (same as our Tsipras). Thus, acting foolishly and arrogantly, he left a few million eyes to see his real face. This was the last straw that made the French people realize in a definite way what they had already started figuring out during Sarkozy's and Hollande's, administration, or even earlier. Observing Macron, the people understood what lied ahead for them. They felt their backs against the wall – they felt that they had only themselves to rely on, that they had to take themselves action to save themselves and their country.

There was nobody else to make it in their place.

Macron as a Provocateur. Terror in Pompeii

This was the decisive moment, the moment the historical mission of Macron was achieved . By establishing the most absolute control of Finance over Politics, he himself invited Revolution. His triumph and his tragedy came together.

It was just then, that Bucephalus (*) sprang from the depths of historical Memory, galloping without a rider, ready to sweep away everything in his path.

Now those in power look at him with fear, but fearful too are both the "radical right" and the "radical left". Le Pen has already called on protesters to return to their homes and give her names to include in her list for the European election!

Mélenchon supports the Vests – 70% of their demands coincide with the program of his party, La France Insoumise – but so far he hasn't dared to join the people in demanding Macron's resignation, by adopting the immense, but orphan, cry of the people heard all over France: "Macron resign". Perhaps he feels that he hasn't got the steely strength and willpower required for attempting to lead such a movement.

The unions' leadership is doing everything it can to keep the working class away from the Vests, but this stand started causing increasing unrest at its base.

Read also: Macron Prepares a Social War

Many established "leftists" or "radical" intellectuals, who used to feverishly haul capitalism over the coals – although the last thing they really wanted was to experience a real revolution during their lifetime – they too, stand now frightened, looking at an angry Bucephalus running ahead of them. They prefer a stable capitalism, of which they can constitute its "consciousness", writing books, appearing on shows and giving lectures, analyzing its crises and explaining its tribulations. They idea that the People could at some point take seriously what they themselves said, never crossed their minds either!

In fact, this is also a further confirmation of the depth of the movement. Lenin , who, in any event knew something about revolutions, wrote in 1917: "In a revolutionary situation, the Party is a hundred times farther to the left than the Central Committee and the workers a hundred times farther to the left than the Party."

"Revolutionary Situation" and Power Vacuum

Today, four out of five French people disapprove of Macron's policies and one in two demands that he resigns immediately. We assume that this percentage is greater than the percentage of Russians who wanted the ousting of Tsar Nicholas II in February 1917.

France is currently almost in a state of Power Vacuum . The president and the government cannot in essence govern and the people cannot tolerate them. It is not a situation of dual power, but a situation of dual legitimacy , in Mélenchon 's accurate description.

This is a typical definition of a revolutionary situation . As history teaches us, the emergence of such a situation is necessary but not sufficient condition for a victorious Revolution. What is required in or order to turn a rebellion into a potentially victorious Revolution, is a capable and decided leadership and an adequate strategy, program and vision. These elements do not seem to exist, at last not for now, in today's France, as they did not exist in May 1968 or during the Russian Revolution of February 1917. Therefore, the present situation remains open to all possible eventualities; there must be no doubt however, that this is the beginning of a period of intense political and class conflicts in Europe, and that the Europe, as we know it, is already history.

People's Sovereignty at the center of demands

Starting from fuel tax the revolting French have now put at the centre of their demands, in addition to Macron's resignation, the following:

In other words, they demand a profound and radical " transformation " of the Western bourgeois-democratic regime, as we know it, towards a form of direct democracy in order to take back the state, which has gradually and in a totalitarian manner – but while keeping up democratic appearances – passed under direct and full control of the Financial Capital and its employees. Or at least, for the people to be given the opportunity to develop an effective way of controlling state power.

These are not the demands of a fun-club of Protagoras or of some left-wing or right-wing groupuscule propagating Self-Management or of some club of intellectuals. Nor are they the demands of only the lowest social strata of the French nation.

They are supported, according to the polls and put forward by at least three quarters of French citizens, including a sizeable portion of the less poor. In such circumstances, these demands constitute in effect the Will of the People, the Will of the Nation.

The Vests are nothing more than its fighting pioneers. And precisely because it is the absolute majority of people who align with these demands, even if numbers have somewhat gone down since the beginning of December, the Vests are still wanted out on the streets.

By reversing Marx's famous formula in German Ideology , the ideas of the dominant class do not dominate society. This is why the situation can be described as revolutionary.

And also because it is not only the President and the Government, who have been debunked or at least de-legitimized, but it's also the whole range of state and political institutions, the parties, the unions, the "information" media and the "ideologists" of the regime.

The questioning of the establishment is so profound that any arguments about violence and the protesters do not weaken society's support for them. Many, but not all, condemn violence, but there are not many who don't go on immediately to add a reminder of the regime's social violence against the people. When a famous ex-boxer lost his temper and reacted by punching a number of violent police officers, protesters set up a fundraising website for his legal fees. In just two hours they managed to raise around 120.000 euro, before removing the page over officials' complaints and threats about keeping a file on anyone who contributes money to support such causes.

Read also: Greece: Creditors out to crush any trace of Syriza disobedience

Until now, an overwhelming majority of the French people supports the demands while an absolute majority shows supports for the demonstrations; but of course, it is difficult to keep such a deadlock and power-void situation going for long. They will sooner or later demand a solution, and in situations such as these it is often the case that public opinion shifts rapidly from the one end of the political spectrum to the other and vice versa, depending on which force appears to be more decisive and capable of driving society out of the crisis.

The organization of the Movement

Because the protesters have no confidence in the parties, the trade unions, or anyone else for that matter, they are driven out of necessity into self-organization, as they already do with the Citizens' Assemblies that are now emerging in villages, cities and motorway camps. Indeed, by the end of the month, if everything goes well, they will hold the first " Assembly of Assemblies ".

Similar developments have also been observed in many revolutionary movements of this kind in various countries. A classic example is the spontaneous formation of the councils ( Soviets ) during the Russian revolutions of 1905 and 1917.

Although it is difficult to form an opinion from afar about how the situation may unfold, the formation of a such a United Front from grassroots could perhaps offer a way out with regards to the need for a political leadership for the movement, or even of the need to work out a transitional economic program for France, which must also serve as a transitional program for Europe .

Contrary to how things were a century ago, certain factors such as the educational level of the lower social classes, the existence of a number of critical, radical thinkers with the necessary intellectual skills and the Internet, render such a possibility a much more realistic scenario today, than in the past.

Because the movement's Achilles' Heel is that, while it is already in the process of forming a political proposition, it still, at least for now, does not offer any economic alternative or a politically structured, democratically controlled leadership.

Effective Democracy is an absolute requirement in such a front, because it is the only way to synthesize the inevitably different levels of consciousness within the People and to avoid a split of the movement between "left" and "right", between those who are ready to resort to violence to achieve their ends and those who have a preference for more peaceful, gradual processes.

Such a " front " could perhaps also serve as a platform for solidifying a program and vision, to which the various parties and political organizations could contribute.

In her Critique of the Russian Revolution Rosa Luxemburg , the leader of the German Social Democracy was overly critical of the Bolsheviks , even if, I think, a bit too severe in some points. But she closes her critique with the phrase: " They at least dared "

Driven by absolute Need, guided by the specific way its historical experience has formed its consciousness, possessing a Surplus of Consciousness, that is able to feel the unavoidable conclusions coming out of the synthesis of the information we all possess, about both the "quality" of the forces governing our world and the enormous dangers threatening our countries and mankind, the French People, the French Nation has already crossed the Rubicon.

By moving practically to achieve their goals at a massive scale, and regardless of what is to come next, the French people has already made a giant leap up and forward and, once more in its history, it became the world's forerunner in tackling the terrible economic, ecological, nuclear and technological threats against human civilization and its survival.

Without the conscious entry of large masses into the historical scene, with all the dangers and uncertainties that such a thing surely implies, one can hardly imagine how humanity will survive.

Note

(*) Bucephalus was the horse of Alexander the Great, https://en.wikipedia.org/wiki/Bucephalus

[Jan 21, 2019] Sound financial advice

Jan 21, 2019 | www.zerohedge.com

BandGap , 2 hours ago link

Retirement? Hahahahahahahahahaha! Whatever.

in 2008 I switched everything into bonds, didn't lose anything in the market. In 2011 I got divorced and lost 55%. My advice, stay married.

[Jan 19, 2019] According to Wolin, domestic and foreign affairs goals are each important and on parallel tracks

Highly recommended!
Notable quotes:
"... The first, directed outward, finds its expression in the global War on Terror and in the Bush Doctrine that the United States has the right to launch preemptive wars. This amounts to the United States seeing as illegitimate the attempt by any state to resist its domination. ..."
"... The second dynamic, directed inward, involves the subjection of the mass of the populace to economic "rationalization", with continual "downsizing" and "outsourcing" of jobs abroad and dismantling of what remains of the welfare state created by President Franklin D. Roosevelt's New Deal and President Lyndon B. Johnson's Great Society. Neoliberalism is an integral component of inverted totalitarianism. The state of insecurity in which this places the public serves the useful function of making people feel helpless, therefore making it less likely they will become politically active and thus helping maintain the first dynamic. ..."
"... By using managerial methods and developing management of elections, the democracy of the United States has become sanitized of political participation, therefore managed democracy is "a political form in which governments are legitimated by elections that they have learned to control". ..."
"... Under managed democracy, the electorate is prevented from having a significant impact on policies adopted by the state because of the opinion construction and manipulation carried out by means of technology, social science, contracts and corporate subsidies. ..."
Jan 19, 2019 | www.moonofalabama.org

Jackrabbit , Jan 15, 2019 9:31:08 PM | lin k

karlof1

According to Wolin, domestic and foreign affairs goals are each important and on parallel tracks, as summarized at Wikipedia, the United States has two main totalizing dynamics:

The first, directed outward, finds its expression in the global War on Terror and in the Bush Doctrine that the United States has the right to launch preemptive wars. This amounts to the United States seeing as illegitimate the attempt by any state to resist its domination.

The second dynamic, directed inward, involves the subjection of the mass of the populace to economic "rationalization", with continual "downsizing" and "outsourcing" of jobs abroad and dismantling of what remains of the welfare state created by President Franklin D. Roosevelt's New Deal and President Lyndon B. Johnson's Great Society. Neoliberalism is an integral component of inverted totalitarianism. The state of insecurity in which this places the public serves the useful function of making people feel helpless, therefore making it less likely they will become politically active and thus helping maintain the first dynamic.

<> <> <> <> <> <> <> <> <> <>

Wolin's Inverted Totalitarianism provides the ground work for my suspicions regarding faux populists Obama and Trump:

By using managerial methods and developing management of elections, the democracy of the United States has become sanitized of political participation, therefore managed democracy is "a political form in which governments are legitimated by elections that they have learned to control".

Under managed democracy, the electorate is prevented from having a significant impact on policies adopted by the state because of the opinion construction and manipulation carried out by means of technology, social science, contracts and corporate subsidies.

[Jan 13, 2019] There is no free market! It's all crooked by financial oligarchy!

Highly recommended!
Free market is possible only under strict government regulation. Without government regulation free market quickly deteriorates into the law of jungles. Such a paradox ;-)
And if financial oligarchy gets to power as they got via coup d'état in the USA in late 7th, it is only a matter of time before the society collapses. They are very destructive to the society at large. Probably more so then organized crime. But wait. They actually can be viewed as special type of organized prime as is "The best way to rob the bank is to own it".
Notable quotes:
"... Idiots on here are always going on about how we don't got capitalism, if we only had capitalism, we don't got free markets, if only we had free markets, then everything would be hunky-dory. Without any proof, of course, because there never was and never will be a "free" "market." The US has plenty capitalism. And everything sucks. And they want more. Confused, stupid, disingenuous liars. ..."
"... Free markets are crookedness factories. As a PhD from Chicago Business School told me, "Free markets?! What free markets?! There is no free market! It's all crooked!" ..."
Jan 13, 2019 | www.unz.com

obwandiyag , says: January 13, 2019 at 6:37 am GMT

Idiots on here are always going on about how we don't got capitalism, if we only had capitalism, we don't got free markets, if only we had free markets, then everything would be hunky-dory. Without any proof, of course, because there never was and never will be a "free" "market." The US has plenty capitalism. And everything sucks. And they want more. Confused, stupid, disingenuous liars.
obwandiyag , says: January 13, 2019 at 6:42 am GMT
Look, what you call "capitalism" and "free markets" just means scams to make rich people richer. You read some simple-minded description of some pie-in-the-sky theory of some perfect world where rational actors make the best possible decisions in their own interest without any outside interference, and you actually think you are reading a description of something real.

I'll tell you what's real. Crookedness. Free markets are crookedness factories. As a PhD from Chicago Business School told me, "Free markets?! What free markets?! There is no free market! It's all crooked!"

[Jan 12, 2019] Tucker Carlson Mitt Romney supports the status quo. But for everyone else, it's infuriating Fox News

Highly recommended!
Notable quotes:
"... Adapted from Tucker Carlson's monologue from "Tucker Carlson Tonight" on January 2, 2019. ..."
Jan 02, 2019 | www.foxnews.com
Tucker: America's goal is happiness, but leaders show no obligation to voters

Voters around the world revolt against leaders who won't improve their lives.

Newly-elected Utah senator Mitt Romney kicked off 2019 with an op-ed in the Washington Post that savaged Donald Trump's character and leadership. Romney's attack and Trump's response Wednesday morning on Twitter are the latest salvos in a longstanding personal feud between the two men. It's even possible that Romney is planning to challenge Trump for the Republican nomination in 2020. We'll see.

But for now, Romney's piece is fascinating on its own terms. It's well-worth reading. It's a window into how the people in charge, in both parties, see our country.

Romney's main complaint in the piece is that Donald Trump is a mercurial and divisive leader. That's true, of course. But beneath the personal slights, Romney has a policy critique of Trump. He seems genuinely angry that Trump might pull American troops out of the Syrian civil war. Romney doesn't explain how staying in Syria would benefit America. He doesn't appear to consider that a relevant question. More policing in the Middle East is always better. We know that. Virtually everyone in Washington agrees.

Corporate tax cuts are also popular in Washington, and Romney is strongly on board with those, too. His piece throws a rare compliment to Trump for cutting the corporate rate a year ago.

That's not surprising. Romney spent the bulk of his business career at a firm called Bain Capital. Bain Capital all but invented what is now a familiar business strategy: Take over an existing company for a short period of time, cut costs by firing employees, run up the debt, extract the wealth, and move on, sometimes leaving retirees without their earned pensions. Romney became fantastically rich doing this.

Meanwhile, a remarkable number of the companies are now bankrupt or extinct. This is the private equity model. Our ruling class sees nothing wrong with it. It's how they run the country.

Mitt Romney refers to unwavering support for a finance-based economy and an internationalist foreign policy as the "mainstream Republican" view. And he's right about that. For generations, Republicans have considered it their duty to make the world safe for banking, while simultaneously prosecuting ever more foreign wars. Modern Democrats generally support those goals enthusiastically.

There are signs, however, that most people do not support this, and not just in America. In countries around the world -- France, Brazil, Sweden, the Philippines, Germany, and many others -- voters are suddenly backing candidates and ideas that would have been unimaginable just a decade ago. These are not isolated events. What you're watching is entire populations revolting against leaders who refuse to improve their lives.

Something like this has been in happening in our country for three years. Donald Trump rode a surge of popular discontent all the way to the White House. Does he understand the political revolution that he harnessed? Can he reverse the economic and cultural trends that are destroying America? Those are open questions.

But they're less relevant than we think. At some point, Donald Trump will be gone. The rest of us will be gone, too. The country will remain. What kind of country will be it be then? How do we want our grandchildren to live? These are the only questions that matter.

The answer used to be obvious. The overriding goal for America is more prosperity, meaning cheaper consumer goods. But is that still true? Does anyone still believe that cheaper iPhones, or more Amazon deliveries of plastic garbage from China are going to make us happy? They haven't so far. A lot of Americans are drowning in stuff. And yet drug addiction and suicide are depopulating large parts of the country. Anyone who thinks the health of a nation can be summed up in GDP is an idiot.

The goal for America is both simpler and more elusive than mere prosperity. It's happiness. There are a lot of ingredients in being happy: Dignity. Purpose. Self-control. Independence. Above all, deep relationships with other people. Those are the things that you want for your children. They're what our leaders should want for us, and would want if they cared.

But our leaders don't care. We are ruled by mercenaries who feel no long-term obligation to the people they rule. They're day traders. Substitute teachers. They're just passing through. They have no skin in this game, and it shows. They can't solve our problems. They don't even bother to understand our problems.

One of the biggest lies our leaders tell us that you can separate economics from everything else that matters. Economics is a topic for public debate. Family and faith and culture, meanwhile, those are personal matters. Both parties believe this.

Members of our educated upper-middle-classes are now the backbone of the Democratic Party who usually describe themselves as fiscally responsible and socially moderate. In other words, functionally libertarian. They don't care how you live, as long as the bills are paid and the markets function. Somehow, they don't see a connection between people's personal lives and the health of our economy, or for that matter, the country's ability to pay its bills. As far as they're concerned, these are two totally separate categories.

Social conservatives, meanwhile, come to the debate from the opposite perspective, and yet reach a strikingly similar conclusion. The real problem, you'll hear them say, is that the American family is collapsing. Nothing can be fixed before we fix that. Yet, like the libertarians they claim to oppose, many social conservatives also consider markets sacrosanct. The idea that families are being crushed by market forces seems never to occur to them. They refuse to consider it. Questioning markets feels like apostasy.

Both sides miss the obvious point: Culture and economics are inseparably intertwined. Certain economic systems allow families to thrive. Thriving families make market economies possible. You can't separate the two. It used to be possible to deny this. Not anymore. The evidence is now overwhelming. How do we know? Consider the inner cities.

Thirty years ago, conservatives looked at Detroit or Newark and many other places and were horrified by what they saw. Conventional families had all but disappeared in poor neighborhoods. The majority of children were born out of wedlock. Single mothers were the rule. Crime and drugs and disorder became universal.

What caused this nightmare? Liberals didn't even want to acknowledge the question. They were benefiting from the disaster, in the form of reliable votes. Conservatives, though, had a ready explanation for inner-city dysfunction and it made sense: big government. Decades of badly-designed social programs had driven fathers from the home and created what conservatives called a "culture of poverty" that trapped people in generational decline.

There was truth in this. But it wasn't the whole story. How do we know? Because virtually the same thing has happened decades later to an entirely different population. In many ways, rural America now looks a lot like Detroit.

This is striking because rural Americans wouldn't seem to have much in common with anyone from the inner city. These groups have different cultures, different traditions and political beliefs. Usually they have different skin colors. Rural people are white conservatives, mostly.

Yet, the pathologies of modern rural America are familiar to anyone who visited downtown Baltimore in the 1980s: Stunning out of wedlock birthrates. High male unemployment. A terrifying drug epidemic. Two different worlds. Similar outcomes. How did this happen? You'd think our ruling class would be interested in knowing the answer. But mostly they're not. They don't have to be interested. It's easier to import foreign labor to take the place of native-born Americans who are slipping behind.

But Republicans now represent rural voters. They ought to be interested. Here's a big part of the answer: male wages declined. Manufacturing, a male-dominated industry, all but disappeared over the course of a generation. All that remained in many places were the schools and the hospitals, both traditional employers of women. In many places, women suddenly made more than men.

Now, before you applaud this as a victory for feminism, consider the effects. Study after study has shown that when men make less than women, women generally don't want to marry them. Maybe they should want to marry them, but they don't. Over big populations, this causes a drop in marriage, a spike in out-of-wedlock births, and all the familiar disasters that inevitably follow -- more drug and alcohol abuse, higher incarceration rates, fewer families formed in the next generation.

This isn't speculation. This is not propaganda from the evangelicals. It's social science. We know it's true. Rich people know it best of all. That's why they get married before they have kids. That model works. But increasingly, marriage is a luxury only the affluent in America can afford.

And yet, and here's the bewildering and infuriating part, those very same affluent married people, the ones making virtually all the decisions in our society, are doing pretty much nothing to help the people below them get and stay married. Rich people are happy to fight malaria in Congo. But working to raise men's wages in Dayton or Detroit? That's crazy.

This is negligence on a massive scale. Both parties ignore the crisis in marriage. Our mindless cultural leaders act like it's still 1961, and the biggest problem American families face is that sexism is preventing millions of housewives from becoming investment bankers or Facebook executives.

For our ruling class, more investment banking is always the answer. They teach us it's more virtuous to devote your life to some soulless corporation than it is to raise your own kids.

Sheryl Sandberg of Facebook wrote an entire book about this. Sandberg explained that our first duty is to shareholders, above our own children. No surprise there. Sandberg herself is one of America's biggest shareholders. Propaganda like this has made her rich.

We are ruled by mercenaries who feel no long-term obligation to the people they rule. They're day traders. Substitute teachers. They're just passing through. They have no skin in this game, and it shows.

What's remarkable is how the rest of us responded to it. We didn't question why Sandberg was saying this. We didn't laugh in her face at the pure absurdity of it. Our corporate media celebrated Sandberg as the leader of a liberation movement. Her book became a bestseller: "Lean In." As if putting a corporation first is empowerment. It is not. It is bondage. Republicans should say so.

They should also speak out against the ugliest parts of our financial system. Not all commerce is good. Why is it defensible to loan people money they can't possibly repay? Or charge them interest that impoverishes them? Payday loan outlets in poor neighborhoods collect 400 percent annual interest.

We're OK with that? We shouldn't be. Libertarians tell us that's how markets work -- consenting adults making voluntary decisions about how to live their lives. OK. But it's also disgusting. If you care about America, you ought to oppose the exploitation of Americans, whether it's happening in the inner city or on Wall Street.

And by the way, if you really loved your fellow Americans, as our leaders should, if it would break your heart to see them high all the time. Which they are. A huge number of our kids, especially our boys, are smoking weed constantly. You may not realize that, because new technology has made it odorless. But it's everywhere.

And that's not an accident. Once our leaders understood they could get rich from marijuana, marijuana became ubiquitous. In many places, tax-hungry politicians have legalized or decriminalized it. Former Speaker of the House John Boehner now lobbies for the marijuana industry. His fellow Republicans seem fine with that. "Oh, but it's better for you than alcohol," they tell us.

Maybe. Who cares? Talk about missing the point. Try having dinner with a 19-year-old who's been smoking weed. The life is gone. Passive, flat, trapped in their own heads. Do you want that for your kids? Of course not. Then why are our leaders pushing it on us? You know the reason. Because they don't care about us.

When you care about people, you do your best to treat them fairly. Our leaders don't even try. They hand out jobs and contracts and scholarships and slots at prestigious universities based purely on how we look. There's nothing less fair than that, though our tax code comes close.

Under our current system, an American who works for a salary pays about twice the tax rate as someone who's living off inherited money and doesn't work at all. We tax capital at half of what we tax labor. It's a sweet deal if you work in finance, as many of our rich people do.

In 2010, for example, Mitt Romney made about $22 million dollars in investment income. He paid an effective federal tax rate of 14 percent. For normal upper-middle-class wage earners, the federal tax rate is nearly 40 percent. No wonder Mitt Romney supports the status quo. But for everyone else, it's infuriating.

Our leaders rarely mention any of this. They tell us our multi-tiered tax code is based on the principles of the free market. Please. It's based on laws that the Congress passed, laws that companies lobbied for in order to increase their economic advantage. It worked well for those people. They did increase their economic advantage. But for everyone else, it came at a big cost. Unfairness is profoundly divisive. When you favor one child over another, your kids don't hate you. They hate each other.

That happens in countries, too. It's happening in ours, probably by design. Divided countries are easier to rule. And nothing divides us like the perception that some people are getting special treatment. In our country, some people definitely are getting special treatment. Republicans should oppose that with everything they have.

What kind of country do you want to live in? A fair country. A decent country. A cohesive country. A country whose leaders don't accelerate the forces of change purely for their own profit and amusement. A country you might recognize when you're old.

A country that listens to young people who don't live in Brooklyn. A country where you can make a solid living outside of the big cities. A country where Lewiston, Maine seems almost as important as the west side of Los Angeles. A country where environmentalism means getting outside and picking up the trash. A clean, orderly, stable country that respects itself. And above all, a country where normal people with an average education who grew up in no place special can get married, and have happy kids, and repeat unto the generations. A country that actually cares about families, the building block of everything.

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What will it take a get a country like that? Leaders who want it. For now, those leaders will have to be Republicans. There's no option at this point.

But first, Republican leaders will have to acknowledge that market capitalism is not a religion. Market capitalism is a tool, like a staple gun or a toaster. You'd have to be a fool to worship it. Our system was created by human beings for the benefit of human beings. We do not exist to serve markets. Just the opposite. Any economic system that weakens and destroys families is not worth having. A system like that is the enemy of a healthy society.

Internalizing all this will not be easy for Republican leaders. They'll have to unlearn decades of bumper sticker-talking points and corporate propaganda. They'll likely lose donors in the process. They'll be criticized. Libertarians are sure to call any deviation from market fundamentalism a form of socialism.

That's a lie. Socialism is a disaster. It doesn't work. It's what we should be working desperately to avoid. But socialism is exactly what we're going to get, and very soon unless a group of responsible people in our political system reforms the American economy in a way that protects normal people.

If you want to put America first, you've got to put its families first.

Adapted from Tucker Carlson's monologue from "Tucker Carlson Tonight" on January 2, 2019.

[Jan 08, 2019] Rewriting Economic Thought - Michael Hudson

Highly recommended!
Notable quotes:
"... The following is a transcript of CounterPunch Radio – Episode 19 (originally aired September 21, 2015). Eric Draitser interviews Michael Hudson. ..."
"... The Troika and IMF doctrine of austerity and privatization ..."
Oct 05, 2015 | michael-hudson.com

The following is a transcript of CounterPunch Radio – Episode 19 (originally aired September 21, 2015). Eric Draitser interviews Michael Hudson.

Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new book Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy , available in print on Amazon and an e-version on CounterPunch. Michael Hudson, welcome to CounterPunch Radio.

Michael Hudson: It's good to be here.

ED: Thanks so much for coming on. As I mentioned already, the title of your book – Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy – is an apt metaphor. So parasitic finance capital is really what you're writing about. You explain that it essentially survives by feeding off what we might call the real economy. Could you draw out that analogy a little bit? What does that mean? How does finance behave like a parasite toward the rest of the economy?

MH: Economists for the last 50 years have used the term "host economy" for a country that lets in foreign investment. This term appears in most mainstream textbooks. A host implies a parasite. The term parasitism has been applied to finance by Martin Luther and others, but usually in the sense that you just talked about: simply taking something from the host.

But that's not how biological parasites work in nature. Biological parasitism is more complex, and precisely for that reason it's a better and more sophisticated metaphor for economics. The key is how a parasite takes over a host. It has enzymes that numb the host's nervous system and brain. So if it stings or gets its claws into it, there's a soporific anesthetic to block the host from realizing that it's being taken over. Then the parasite sends enzymes into the brain. A parasite cannot take anything from the host unless it takes over the brain.

The brain in modern economies is the government, the educational system, and the way that governments and societies make their economic policy models of how to behave. In nature, the parasite makes the host think that the free rider, the parasite, is its baby, part of its body, to convince the host actually to protect the parasite over itself.

That's how the financial sector has taken over the economy. Its lobbyists and academic advocates have persuaded governments and voters that they need to protect banks, and even need to bail them out when they become overly predatory and face collapse. Governments and politicians are persuaded to save banks instead of saving the economy, as if the economy can't function without banks being left in private hands to do whatever they want, free of serious regulation and even from prosecution when they commit fraud. This means saving creditors – the One Percent – not the indebted 99 Percent.

It was not always this way. A century ago, two centuries ago, three centuries ago and all the way back to the Bronze Age, almost every society has realized that the great destabilizing force is finance – that is, debt. Debt grows exponentially, enabling creditors ultimately to foreclose on the assets of debtors. Creditors end up reducing societies to debt bondage, as when the Roman Empire ended in serfdom.

About a hundred years ago in America, John Bates Clark and other pro-financial ideologues argued that finance is not external to the economy. It's not extraneous, it's part of the economy, just like landlords are part of the economy. This means that if the financial sector takes more revenue out of the economy as interest, fees or monopoly charges, it's because finance is an inherent and vital part of the economy, adding to GDP, not merely siphoning it off from producers to pay Wall Street and the One Percent. So our economic policy protects finance as if it helps us grow, not siphons off our growth.

A year or two ago, Lloyd Blankfein of Goldman Sachs said that the reason Goldman Sachs' managers are paid more than anybody else is because they're so productive. The question is, productive of what? The National Income and Product Accounts (NIPA) say that everybody is productive in proportion to the amount of money they make/take. It doesn't matter whether it's extractive income or productive income. It doesn't matter whether it's by manufacturing products or simply taking money from people, or simply by the fraud that Goldman Sachs, Citigroup, Bank of America and others paid tens of millions of dollars in fines for committing. Any way of earning income is considered to be as productive as any other way. This is a parasite-friendly mentality, because it denies that there's any such thing as unearned income. It denies that there's a free lunch. Milton Friedman got famous for promoting the idea that there's no such thing as a free lunch, when Wall Street knows quite well that this is what the economy is all about. It's all about how to get a free lunch, with risks picked up by the government. No wonder they back economists who deny that there's any such thing!

ED: To get to the root of the issue, what's interesting to me about this analogy that we're talking about is that we hear the term neoliberalism all the time. It is an ideology I that's used to promote the environment within which this parasitic sort of finance capital can operate. So could you talk a bit about the relationship between finance capital and neoliberalism as its ideology.

MH: Today's vocabulary is what Orwell would call DoubleThink. If you're going to call something anti-liberal and against what Adam Smith and John Stuart Mill and other classical economists described as free markets, you pretend to be neoliberal. The focus of Smith, Mill, Quesnay and the whole of 19th-century classical economics was to draw a distinction between productive and unproductive labor – that is, between people who earn wages and profits, and rentiers who, as Mill said, "get rich in their sleep." That is how he described landowners receiving groundrent. It also describes the financial sector receiving interest and "capital" gains.

The first thing the neoliberal Chicago School did when they took over Chile was to close down every economics department in the country except the one they controlled at the Catholic University. They started an assassination program of left wing professors, labor leaders and politicians, and imposed neoliberalism by gunpoint. Their idea is you cannot have anti-labor, deregulated "free markets" stripping away social protections and benefits unless you have totalitarian control. You have to censor any idea that there's ever been an alternative, by rewriting economic history to deny the progressive tax and regulatory reforms that Smith, Mill, and other classical economists urged to free industrial capitalism from the surviving feudal privileges of landlords and predatory finance.

This rewriting of the history of economic thought involves inverting the common vocabulary that people use. So, the idea of the parasitism is to replace the meaning of everyday words and vocabulary with their opposite. It's DoubleThink.

Democratic vs. oligarchic government and their respective economic doctrines
ED: I don't want to go too far off on a tangent, but you mentioned the example of Chile's 1973 coup and the assassination of Allende to impose the Pinochet dictatorship. That was a Kissinger/Nixon operation as we know, but what's interesting about that is Chile was transformed into a sort of experimental laboratory to impose the Chicago school economic model of what we now would call neoliberalism. Later in our conversation I want to talk a bit about some recent laboratories we have seen in Eastern Europe, and now in Southern Europe as well. The important point about neoliberalism is the relationship between totalitarian government and this form of economics.

MH: That's right. Neoliberals say they're against government, but what they're really against is democratic government. The kind of governments they support are pre-referendum Greece or post-coup Ukraine. As Germany's Wolfgang Schäuble said, "democracy doesn't count." Neoliberals want the kind of government that will create gains for the banks, not necessarily for se the economy at large. Such governments basically are oligarchic. Once high finance takes over governments as a means of exploiting the 99 Percent, it's all for active government policy – for itself.

Aristotle talked about this more than 2,000 years ago. He said that democracy is the stage immediately proceeding oligarchy. All economies go through three stages repeating a cycle: from democracy into oligarchy, and then the oligarchs make themselves hereditary. Today, Jeb Bush wants to abolish the estate tax to help the emerging power elite make itself into a hereditary aristocracy. Then, some of the aristocratic families will fight among themselves, and take the public into their camp and promote democracy, so you have the cycle going all over again. That's the kind of cycle we're having now, just as in ancient Athens. It's a transition from democracy to oligarchy on its way to becoming an aristocracy of the power elite.

ED: I want to return to the book in a second but I have to interject that one particular economist hasn't been mentioned yet: Karl Marx. It's an inversion of Marx as well, because Marx's labor theory of value was that that value ultimately is derived from labor. Parasitic finance capital is the opposite of that. It may increase prices without value.

MH: Correct, but I should point out that there's often a misinterpretation of the context in which the labor theory of value was formulated and refined. The reason why Marx and the other classical economists – William Petty, Smith, Mill and the others – talked about the labor theory of value was to isolate that part of price that wasn't value. Their purpose was to define economic rent as something that was not value. It was extraneous to production, and was a free lunch – the element of price that is charged to consumers and others that has no basis in labor, no basis in real cost, but is purely a monopoly price or return to privilege. This was mainly a survival of the feudal epoch, above all of the landed aristocracy who were the heirs of the military conquers, and also the financial sector of banking families and their heirs.

The aim of the labor theory of value was to divide the economy between excessive price gouging and labor. The objective of the classical economists was to bring prices in line with value to prevent a free ride, to prevent monopolies, to prevent an absentee landlord class so as to free society from the legacy of feudalism and the military conquests that carved up Europe's land a thousand years ago and that still underlies our property relations.

The concept and theory of economic rent
ED: That's a great point, and it leads me into the next issue that I want to touch on. You've mentioned the term already a number of times: the concept of economic rent. We all know rent in terms of what we have to pay every month to the landlord, but we might not think about what it means conceptually. It's one of the fabrics with which you've woven this book together. One of the running themes, rent extraction, and its role in the development of what we've now termed this parasitic relationship. So, explain for laymen what this means – rent extraction – and how this concept evolved.

MH: To put the concept of economic rent in perspective, I should point out when I went to get my PhD over a half a century ago, every university offering a graduate economics degree taught the history of economic thought. That has now been erased from the curriculum. People get mathematics instead, so they're unexposed to the concept of economic rent as unearned income. It's a concept that has been turned on its head by "free market" ideologues who use "rent seeking" mainly to characterize government bureaucrats taxing the private sector to enhance their authority – not free lunchers seeking to untax their unearned income. Or, neoclassical economists define rent as "imperfect competition" (as if their myth of "perfect competition" really existed) stemming from "insufficient knowledge of the market," patents and so forth.

Most rent theory was developed in England, and also in France. English practice is more complex than America. The military conquers imposed a pure groundrent fee on the land, as distinct from the building and improvements. So if you buy a house from a seller in England, somebody else may own the land underneath it. You have to pay a separate rent for the land. The landlord doesn't do anything at all to collect land rent, that's why they call them rentiers or coupon clippers. In New York City, for example, Columbia University long owned the land underneath Rockefeller Center. Finally they sold it to the Japanese, who lost their shirt. This practice is a carry-over from the Norman Conquest and its absentee landlord class.

The word "rent" originally was French, for a government bond (rente). Owners received a regular income every quarter or every year. A lot of bonds used to have coupons, and you would clip off the coupon and collect your interest. It's passively earned income, that is, income not actually earned by your own labor or enterprise. It's just a claim that society has to pay, whether you're a government bond holder or whether you own land.

This concept of income without labor – but simply from privileges that had been made hereditary – was extended to the ideas of monopolies like the East India Company and other trade monopolies. They could produce or buy goods for, let's say, a dollar a unit, and sell them for whatever the market will bear – say, $4.00. The markup is "empty pricing." It's pure price gouging by a natural monopoly, like today's drug companies.

To prevent such price gouging and to keep economies competitive with low costs of living and doing business, European kept the most important natural monopolies in the public domain: the post office, the BBC and other state broadcasting companies, roads and basic transportation, as well as early national airlines. European governments prevented monopoly rent by providing basic infrastructure services at cost, or even at subsidized prices or freely in the case of roads. The guiding idea is for public infrastructure – which you should think of as a factor of production along with labor and capital – was to lower the cost of living and doing business.

But since Margaret Thatcher led Britain down the road to debt peonage and rent serfdom by privatizing this infrastructure, she and her emulators other countries turned them into tollbooth economies. The resulting economic rent takes the form of a rise in prices to cover interest, stock options, soaring executive salaries and underwriting fees. The economy ends up being turned into a collection of tollbooths instead of factories. So, you can think of rent as the "right" or special legal privilege to erect a tollbooth and say, "You can't get television over your cable channel unless you pay us, and what we charge you is anything we can get from you."

This price doesn't have any relation to what it costs to produce what they sell. Such extortionate pricing is now sponsored by U.S. diplomacy, the World Bank, and what's called the Washington Consensus forcing governments to privatize the public domain and create such rent-extracting opportunities.

In Mexico, when they told it to be more "efficient" and privatize its telephone monopoly, the government sold it to Carlos Slim, who became one of the richest people in the world by making Mexico's phones among the highest priced in the world. The government provided an opportunity for price gouging. Similar high-priced privatized phone systems plague the neoliberalized post-Soviet economies. Classical economists viewed this as a kind of theft. The French novelist Balzac wrote about this more clearly than most economists when he said that every family fortune originates in a great theft. He added that this not only was undiscovered, but has come taken for granted so naturally that it just doesn't matter.

If you look at the Forbes 100 or 500 lists of each nation's richest people, most made their fortunes through insider dealing to obtain land, mineral rights or monopolies. If you look at American history, early real estate fortunes were made by insiders bribing the British Colonial governors. The railroad barrens bribed Congressmen and other public officials to let them privatize the railroads and rip off the country. Frank Norris's The Octopus is a great novel about this, and many Hollywood movies describe the kind of real estate and banking rip-offs that made America what it is. The nation's power elite basically begun as robber barons, as they did in England, France and other countries.

The difference, of course, is that in past centuries this was viewed as corrupt and a crime. Today, neoliberal economists recommend it as the way to raise "productivity" and make countries wealthier, as if it were not the road to neofeudal serfdom.

The Austrian School vs. government regulation and pro-labor policies
ED: I don't want to go too far off on a tangent because we have a lot to cover specific to your book. But I heard an interesting story when I was doing a bit of my own research throughout the years about the evolution of economic thought, and specifically the origins of the so-called Austrian School of Economics – people like von Mises and von Hayek. In the early 20th century they were essentially, as far as I could tell, creating an ideological framework in which they could make theoretical arguments to justify exorbitant rent and make it seem almost like a product of natural law – something akin to a phenomenon of nature.

MH: The key to the Austrian School is their hatred of labor and socialism. It saw the danger of democratic government spreading to the Habsburg Empire, and it said, "The one thing we have to stop is democracy. Their idea of a free market was one free of democracy and of democratic government regulating and taxing wealthy rentiers. It was a short step to fighting in the streets, using murder as a "persuader" for the particular kind of "free markets" they wanted – a privatized Thatcherite deregulated kind. To the rentiers they said: "It's either our freedom or that of labor."

Kari Polanyi-Levitt has recently written about how her father, Karl Polanyi, was confronted with these right-wing Viennese. His doctrine was designed to rescue economics from this school, which makes up a fake history of how economics and civilization originated.

One of the first Austrian's was Carl Menger in the 1870s. His "individualistic" theory about the origins of money – without any role played by temples, palaces or other public institutions – still governs Austrian economics. Just as Margaret Thatcher said, "There's no such thing as society," the Austrians developed a picture of the economy without any positive role for government. It was as if money were created by producers and merchants bartering their output. This is a travesty of history. All ancient money was issued by temples or public mints so as to guarantee standards of purity and weight. You can read Biblical and Babylonian denunciation of merchants using false weights and measures so see why money had to be public. The major trading areas were agora spaces in front of temples, which kept the official weights and measures. And much exchange was between the community's families and the public institutions.

Most important, money was brought into being not for trade (which was conducted mainly on credit), but for paying debts. And most debts were owed to the temples and palaces for pubic services or tribute. But to the Austrians, the idea was that anything the government does to protect labor, consumers and society from rentiers and grabbers is deadweight overhead.

Above all, they opposed governments creating their own money, e.g. as the United States did with its greenbacks in the Civil War. They wanted to privatize money creation in the hands of commercial banks, so that they could receive interest on their privilege of credit creation and also to determine the allocation of resources.

Today's neoliberals follow this Austrian tradition of viewing government as a burden, instead of producing infrastructure free of rent extraction. As we just said in the previous discussion, the greatest fortunes of our time have come from privatizing the public domain. Obviously the government isn't just deadweight. But it is becoming prey to the financial interests and the smashers and grabbers they have chosen to back.

ED: You're right, I agree 100%. You encounter this ideology even in the political sociological realm like Joseph Schumpeter, or through the quasi-economic realm like von Hayek in The Road to Serfdom.

MH: Its policy conclusion actually advocates neo-serfdom. Real serfdom was when families had to pay all their income to the landlords as rent. Centuries of classical economists backed democratic political reform of parliaments to roll back the landlords' power (and that of bankers). But Hayek claimed that this rollback was the road to serfdom, not away from it. He said democratic regulation and taxation of rentiers is serfdom. In reality, of course, it's the antidote.

ED: It's the inversion you were talking about earlier. We're going to go into a break here in a minute but before we do I want to touch on one other point that is important in the book, again the book, Killing the Host: How Financial Parasites and Debt Bondage Destroyed the Global Economy, available from CounterPunch – very important that people pick up this book.

MH: And from Amazon! You can get a hard copy for those who don't want to read on computers.

Finance as the new mode of warfare
ED: Yes, and on amazon as well, thank you. This issue that I want to touch on before we go to the break is debt. On this program a couple of months ago I had the journalist John Pilger. He and I touched on debt specifically as a weapon, and how it is used as a weapon. You can see this in the form of debt enslavement, if you want to call it that, in postcolonial Africa. You see the same thing in Latin America where, Michael, I know you have a lot of experience in Latin America in the last couple of decades. So let's talk a little bit, if we could, before we go to the break, about debt as a weapon, because I think this is an important concept for understanding what's happening now in Greece, and is really the framework through which we have to understand what we would call 21st-century austerity.

MH: If you treat debt as a weapon, the basic idea is that finance is the new mode of warfare. That's one of my chapters in the book. In the past, in order to take over a country's land and its public domain, its basic infrastructure and its mineral resources, you had to have a military invasion. But that's very expensive. And politically, almost no modern democracy can afford a military invasion anymore.

So the objectives of the financial sector – of Wall Street, the City of London or Frankfurt in Germany – is to obtain the land. You can look at what's happening in Greece. What its creditors, the IMF and European Central Bank (ECB) want are the Greek islands, and they want the gas rights in the Aegean Sea. They want whatever buildings and property there is, including the museums.

Matters are not so much different in the private sector. If you can get a company or individual into debt, you can strip away the assets they have when they can't pay. A Hayek-style government would block society from protecting itself against such asset stripping. Defending "property rights" of creditors, such "free market" ideology deprives the rest of the economy – businesses, individuals and public agencies. It treats debt writedowns as the road to serfdom, not the road away from debt dependency.

In antiquity, private individuals obtained labor services by making loans to families in need, and obliging their servant girls, children or even wives to work off the loan in the form of labor service. My Harvard-based archaeological group has published a series of five books that I co-edited, most recently Labor in the Ancient World . Creditors (often palace infrastructure managers or collectors) would get people into bondage. When new Bronze Age rulers started their first full year on the throne, it was customary to declare an amnesty to free bond servants and return them to their families, and annul personal debts as well as to return whatever lands were forfeited. So in the Bronze Age, debt serfdom and debt bondage was only temporary. The biblical Jubilee law was a literal translation of Babylonian practice that went back two thousand years.

In America, in colonial times, sharpies (especially from Britain) would lend farmers money that they knew the farmer couldn't pay, then they would foreclose just before the crops came in. Right now you have corporate raiders, who are raiding whole companies by forcing them into debt, and then smashing and grabbing. You now have the IMF, European Central Bank and Washington Consensus taking over whole countries like Ukraine. The tactic is to purposely lend them the money that clearly cannot be repaid, and say, "Oh you cannot pay? Well, we're not going to take a loss. We have a solution." The solution is to sell off public enterprises, land and natural resources. In Greece's case, 50 billion euros of its property, everything that it has in the public sector. The country is to be sold off to foreigners (including domestic oligarchs working out of their offshore accounts). Debt leverage is thus the way to achieve what it took armies to win in times past.

ED: Exactly. One last point on that as well. I want to get your comment on and we see this in post-colonial Africa, especially when the French and the British had to nominally give up control of their colonies. You saw debt become an important tool to maintain hegemony within their spheres of influence. Of course, asset stripping and seizing control, smashing and grabbing was part of that. But also it is the debt servicing payments, it is the cycle of debt repayment and taking new loans on top of original loans to service the original loans – this process this cycle is also really an example of this debt servitude or debt bondage.

MH: That's correct, and mainstream economics denies any of this. It began with Ricardo, who's brothers were major bankers at the time, and he himself was the major bank lobbyist in England. Right after Greece won its independence from Turkey, the Ricardo brothers made a rack-renting loan to Greece at far below par (that is, below the face value that Greece committed itself to pay). Greece tried to pay over the next century, but the terms of the loan ended up stripping and keeping it on the edge of bankruptcy well into the 20th century.

But Ricardo testified before Parliament that there could be no debt-servicing problem. Any country, he said, could repay the debts automatically, because there is an automatic stabilization mechanism that enables every country to be able to pay. This is the theory that underlines Milton Friedman and the Chicago School of monetarism: the misleading idea that debt cannot be a problem.

That's what's taught now in international trade and financial textbooks. It's false pleading. It draws a fictitious "What If" picture of the world. When criticized, the authors of these textbooks, like Paul Samuelson, say that it doesn't matter whether economic theory is realistic or not. The judgment of whether an economic theory is scientific is simply whether it is internally consistent. So you have these fictitious economists given Nobel Prizes for promoting an inside out, upside down version of how the global economy actually works.

ED: One other thing that they no longer teach is what used to be called political economy. The influence of the Chicago School, neoliberalism and monetarism has removed classical political economy from academia, from the Canon if you will. Instead, as you said, it's all about mathematics and formulas that treat economics like a natural science, when in fact it really should be more of a historically grounded social science.

MH: The formulas that they teach don't have government in them,. If you have a theory that everything is just an exchange, a trade, and that there isn't any government, then you have a theory that has nothing to do with the real world. And if you assume that the environment remains constant instead of using economics to guide public and national policy, you're using economics for the opposite of what the classical economists did. Adam Smith, Mill, Marx, Veblen – they all developed their economic theory to reform the world. The classical economists were reformers. They wanted to free society from the legacy of feudalism – to get rid of land rent, to take money creation and credit creation into the public domain. Whatever their views, whether they were right wingers or left wingers, whether they were Christian socialists, Ricardian socialists or Marxian socialists, all the capitalist theorists of the 19th century called themselves socialists, because they saw capitalism as evolving into socialism.

But what you now have, since World War I, is a reaction against this, stripping away of the idea that governments have a productive role to play. If government is not the director and planner of the economy, then who is? It's the financial sector. It's Wall Street. So the essence of neoliberalism that you were mentioning before, is indeed a doctrine of central planning. It states that the central planning should be done by Wall Street, by the financial sector.

The problem is, what is the objective of central planning by Wall Street? It's not to raise living standards, and it's not to increase employment. It is to smash and grab. That is the society we're in now.

A number of chapters of my book (I think five), describe how the Obama administration has implemented this smash and grab, doing the exact opposite of what he promised voters. Obama has implemented the Rubin-omics [Robert Rubin] doctrine of Wall Street to force America into what looks like a chronic debt depression.

ED: Exactly right. I couldn't agree more. Let's take a short break and we'll continue the discussion. Again, I'm chatting with Michael Hudson about his new book, Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.

The case of Latvia: Is it a success story, or a neoliberal disaster?
ED: I want to go back to some of the important issues that we introduced or alluded to in the first part of our discussion. As I was mentioning to you off-air, a couple years ago I twice interviewed your colleague Jeffrey Sommers, with whom you've worked and co-published a number of papers. We talked a lot about many of the same issues that you and I are touching on. Specifically Sommers – and I know you as well – did a lot of work in Latvia, a country in the former Soviet space in Eastern Europe on the Baltic Sea. Your book has a whole chapter on it, as well as references throughout the book.

So let's talk about how Latvia serves as a template for understanding the austerity model. It is touted by technocrats of the financial elite as a major success story – how austerity can work. I find it absurd on so many different levels. So tell us what happened in Latvia, what the real costs were, and why neoliberals claim it as a success story.

MH: Latvia is the disaster story of the last two decades. That's why I took it as an object lesson. You're right, it was Jeff Sommers who first brought me over to Latvia. I then became Director of Economic Research and Professor of Economics at the Riga Graduate School of Law.

When Latvia was given its independence when the Soviet Union broke up in 1991, a number of former Latvians had studied at George Washington University, and they brought neoliberalism over there – the most extreme grabitization and de-industrialization of any country I know. Latvians, Russians and other post-Soviet countries were under the impression that U.S. advisors would help them become modernized like the U.S. economy – with high living and consumption standards. But what they got was advice to emulate American experience. It got something just the opposite – how to enable foreign investors and bankers to carve it up, dismantle its industry and become a bizarre neoliberal experiment.

You may remember the Republican presidential candidate Steve Forbes, who in 2008 proposed a flat tax to replace progressive taxation. The idea never could have won in the United States, but Latvia was another story. The Americans set the flat tax at an amazingly low 12 percent of income – and no significant property tax on real estate or capital gains. It was a financial and real estate dream, and created a classic housing and financial bubble.

Jeff and I visited the head of the tax authority, who told us that she was appointed because she had done her PhD dissertation on Latvia's last land value assessment – which was in 1917. They hadn't increased the assessments since then, because the Soviet economy didn't have private land ownership and didn't even have a concept of rent-of-location for planning purposes. (Neither did Russia.)

Latvia emerged from the Soviet Union without any debt, and also with a lot of real estate and a highly educated population. But its political insiders turned over most of the government enterprises to themselves. Latvia had been a computer center and also the money-laundering center of the Soviet leadership already in the late 1980s (largely as a byproduct of Russian oil exports through Ventspils), and Riga remains the money-laundering city for today's Russia.

Privatizing housing and other property led to soaring real estate prices. But this bubble wasn't financed by domestic banks. The Soviet Union didn't have private banks, because the government had simply created the credit to fund the economy as needed. The main banks in a position to lend to Latvia were Swedish and other Scandinavian banks. They pounce on the lending opportunities to opened up by an entire nation whose real estate had almost no tax on it. The result was the biggest real estate bubble in the world, along with Russia's. Latvians found that in order to buy housing of their own, they had to go deeply into debt. Assets were only given to insiders, not to the people.

A few years ago there was a reform movement in Latvia to stop the economic bleeding. Jeff and I brought over American property appraisers and economists. We visited the leading bank, regulatory agencies. Latvia was going broke because its population had to pay so much for real estate. And it was under foreign-exchange pressure because debt service on its mortgage loans was being paid to the Swedish and foreign banks. The bank regulator told us that her problem was that her agency's clients are the banks, not the population. So the regulators thought of themselves as working for the banks, even though they were foreign-owned. She acknowledged that the banks were lending much more money than property actually was worth. But her regulatory agency had a solution: It was to have not only the buyer be obligated to pay the mortgage, but also the parents, uncles or aunts. Get the whole family involved, so that if the first signer couldn't pay the cosigners would be obligated.

That is how Latvia stabilized its banking system. But it did so by destabilizing the economy. The result is that Latvia has lost 20 percent of its population over the past decade or so. For much the same reasons that Greece has lost 20 percent of its population, with Ireland in a similar condition. The Latvians have a joke "Will the last person who leaves in 2020 please turn off the lights at the airport."

The population is shrinking because the economy is being run by looters, domestic and foreign. I was shown an island in the middle of the Daugava river that runs to the middle of Latvia, and was sold for half a million dollars. Our appraisers said that it's worth half a billion dollars, potentially. There are no plans to raise the property tax to recapture these gains for the country – so that it can lower its heaviest labor taxes in the world, nearly half each paycheck for income tax and "social security" spending so that finance and real estate won't be taxed.

A few years ago, I was at the only meeting of INET (George Soros's group) that I was invited to, and in the morning one of the lead talks was on how Latvia was a model that all countries could follow to balance the budget. Latvia has balanced the budget by cutting back public spending, reducing employment and lowering wage levels while indebting its population and forcing to immigrate. The neoliberal strategy is to balance by selling off whatever remains in the public domain. Soros funded a foundation there (like similar ones he started in other post-Soviet countries) to get a part of the loot.

These giveaways at insider prices have created a kleptocracy obviously loyal to neoliberal economics. I go into the details in my chapter. It's hard to talk about it without losing my temper, so I'm trying to be reasonable but it's a country that was destroyed and smashed. That was the U.S. neoliberal model alternative to post-Stalinism. It wasn't a new American economy. It was a travesty.

Why then does the population continue to vote for these neoliberals? The answer is, the neoliberals say, the alternative is Stalinism. To Latvians, this means exile, deportations and memories of the old pro-Russian policy. The Russian-speaking parties are the main people backers of a social democracy party. But neoliberals have merged with Latvian nationalists. They are not only making the election over resentment against the Russian-speaking population, but the fact that many are Jewish.

I find it amazing to see someone who is Jewish, like George Soros, allying with anti-Semitic and even neo-Nazi movements in Latvia, Estonia, and most recently, of course, Ukraine. It's an irony that you could not have anticipated deductively. If you had written this plot in a futuristic novel twenty years ago, no one would have believed that politics could turn more on national and linguistic identity politics than economic self-interest. The issue is whether you are Latvian or are Russian-Jewish, not whether you want to untax yourself and make? Voting is along ethnic lines, not whether Latvians really want to be forced to emigrate to find work instead of making Latvia what it could have been: an successful economy free of debt. Everybody could have gotten their homes free instead of giving real estate only to the kleptocrats.

The government could have taxed the land's rental value rather than letting real estate valuation be pledged to pay banks – and foreign banks at that. It could have been a low-cost economy with high living standards, but neoliberals turned in into a smash and grab exercise. They now call it an idea for other nations to follow. Hence, the U.S.-Soros strategy re Ukraine.

ED: That's an excellent point. It's a more extreme case for a number of reasons in Ukraine – the same tendency. They talk about, "Putin and his gaggle of Jews." That's the idea, that Putin and the Jews will come in and steal everything – while neoliberals plan to appropriate Ukraine's land and other resources themselves. In this intersection between economics and politics, Latvia, Lithuania, Estonia – the Baltic States of the former Soviet Union – are really the front lines of NATO expansion. They were some of the first and most pivotal countries brought into the NATO orbit. It is the threat of "Russian aggression" via the enclave at Kaliningrad, or just Russia in general. That is the threat they use to justify the NATO umbrella, and simultaneously to justify continuing these economic policies. So in many ways Russia serves as this convenient villain on a political, military and economic level.

MH: It's amazing how the popular press doesn't report what's going on. Primakov, who died a few months ago, said during the last crisis a few years ago that Russia has no need to invade Latvia, because it owns the oil export terminals and other key points. Russia has learned to play the Western game of taking countries over financially and acquiring ownership. Russia doesn't need to invade to control Latvia any more than America needs to invade to control Saudi Arabia or the Near East. If it controls exports or access to markets, what motive would it have to invade? As things stand, Russia uses Latvia it as a money laundering center.

The same logic applies to Ukraine today. The idea is that Russia is expansionary in a world where no one can afford to be militarily expansionary. After Russia's disaster in Afghanistan, no country in the world that's subject to democratic checks, whether it's America after the Vietnam War or Russia or Europe, no democratic country can invade another country. All they can do is drop bombs. This can't capture a country. For that you need major troop commitments.

In the trips that I've taken to Russia and China, they're in a purely defensive mode. They're wondering why America is forcing all this. Why is it destroying the Near East, creating a refugee problem and then telling Europe to clean up the mess it's created? The question is why Europe is willing to keep doing this. Why is Europe part of NATO fighting in the Near East? When America tells Europe, "Let's you and Russia fight over Ukraine," that puts Europe in the first line of fire. Why would it have an interest in taking this risk, instead of trying to build a mutual economic relationship with Russia as seemed to be developing in the 19th century?

ED: That's the ultimate strategy that the United States has used – driving a wedge between Russia and Europe. This is the argument that Putin and the Russians have made for a long time. You can see tangible examples of that sort of a relationship even right now if you look at the Nord Stream pipeline connecting Russian energy to German industrial output – that is a tangible example of the economic relationship, that is only just beginning between Russia and Europe. That's really what I think the United States wanted to put the brakes on, in order to be able to maintain hegemony. The number one way it does that is through NATO.

MH: It's not only put the brakes on, it has created a new iron curtain. Two years ago, Greece was supposed to privatize 5 billion euros of its public domain. Half of this, 2.5 billion, was to be the sale of its gas pipeline. But the largest bidder was Gazprom, and America said, "No, you can't accept the highest bidder if its Russian." Same thing in Ukraine. It has just been smashed economically, and the U.S. says, "No Ukrainian or Russian can buy into the Ukrainian assets to be sold off. Only George Soros and his fellow Americans can buy into this." This shows that the neoliberalism of free markets, of "let's everybody pay the highest price," is only patter talk. If the winner in the rigged market is not the United States, it sends in ISIS or Al Qaeda and the assassination teams, or backs the neo-Nazis as in Ukraine.

So, we're in a New Cold War. Its first victims, apart from Southern Europe, will be the rest of Europe. You can imagine how this is just beginning to tear European politics apart, with Germany's Die Linke and similar parties making a resurgence.

The Troika and IMF doctrine of austerity and privatization
ED: I want to return us back to the book and some other key issues that you bring up that I think are most important. One that we hear in the news all the time, and you write extensively about it in the book, is the Troika. That's the IMF, the European Central Bank (ECB) and the European Commission. It could be characterized as the political arm of finance capital in Europe, one that imposes and manages austerity in the interest of the ruling class of finance capital, as I guess we could call them. These are technocrats, not academically trained economists primarily (maybe with a few exceptions), but I want you to talk a bit about how the Troika functions and why it's so important in what we could call this crisis stage of neoliberal finance capitalism.

MH: Basically, the Troika is run by Frankfurt bankers as foreclosure and collection agents. If you read recently what former Greek finance minister Yanis Varoufakis has written, and his advisor James Galbraith, they said that when Syriza was elected in January, they tried to reason with the IMF. But it said that it could only do what the European Central Bank said, and that it would approve whatever they decided to do. The European Central Bank said that its role wasn't to negotiate democracy. Its negotiators were not economists. They were lawyers. "All we can say is, here's what you have to pay, here's how to do it. We're not here to talk about whether this is going to bankrupt Greece. We're just interested in in how you're going to pay the banks what they're owe. Your electric companies and other industry will have to go to German companies, the other infrastructure to other investors – but not from Russia."

It's much like England and France divided up the Near East after World War I. There's a kind of a gentlemen's agreement as to how the creditor economies will divide up Greece, carving it up much like neighboring Yugoslavia to the north.

In 2001 the IMF made a big loan to Argentina (I have a chapter on Argentina too), and it went bad after a year. So the IMF passed a rule, called the No More Argentinas rule, stating that the Fund was not going to participate in a loan where the government obviously can not pay.

A decade later came the Greek crisis of 2011. The staff found that Greece could not possibly pay a loan large enough to bail out the French, German and other creditors. So there has to be a debt write-down of the principal. The staff said that, and the IMF's board members agreed. But its Managing Director, Strauss-Kahn wanted to run for the presidency of France, and most of the Greek bonds were held by French banks. French President Sarkozy said "Well you can't win political office in France if you stiff the French banks." And German Chancellor Merkel said that Greece had to pay the German banks. Then, to top matters, President Obama came over to the G-20 meetings and they said that the American banks had made such big default insurance contracts and casino gambles betting that Greece would pay, that if it didn't, if the Europeans and IMF did not bail out Greece, then the American banks might go under. The implicit threat was that the U.S. would make sure that Europe's financial system would be torn to pieces.

ED: And Michael, I just want to clarify, I guess it's sort of a question: about what you're talking about here in terms of Geithner and Obama coming in: These would be credit default swaps and collateralized debt obligations?

MH: Yes. U.S. officials said that Wall Street had made so many gambles that if the French and German banks were not paid, they would turn to their Wall Street insurers. The Wall Street casino would go under, bringing Europe's banking system down with it. This prompted the European Central Bank to say that it didn't want the IMF to be a part of the Troika unless it agreed to take a subordinate role and to support the ECB bailout. It didn't matter whether Greece later could pay or not. In that case, creditors would smash and grab. This lead the some of the IMF European staff to resign, most notably Susan Schadler, and later to act as whistle blowers to write up what happened.

The same thing happened again earlier this year in Greece. Lagarde said that the IMF doesn't do debt reduction, but would give them a little longer to pay. Not a penny, not a euro will be written down, but the debt will be stretched out and perhaps the interest rate will be lowered – as long as Greece permits foreigners to grab its infrastructure, land and natural resources.

The staff once again leaked a report to the Financial Times (and maybe also the Wall Street Journal) that said that Greece couldn't pay, there's no way it can later sell off the IMF loan to private bondholders, so any bailout would be against the IMF's own rules. Lagarde was embarrassed, and tried to save face by saying that Germany has to agree to stretch out the payments on the debt – as if that somehow would enable it to pay, while its assets pass into foreign hands, which will remit their profits back home and subject Greece to even steeper deflation.

Then, a few weeks ago, you have the Ukraine crisis and the IMF is not allowed to make loans to countries that cannot pay. But now the whole purpose is to make loans to countries who can't pay, so that creditors can turn around and demand that they pay by selling off their public domain – and implicitly, force their population to emigrate.

ED: Also, technically they're not supposed to be making loans to countries that are at war, and they're ignoring that rule as well.

MH: That's the second violation of IMF rules. At least in the earlier Greek bailout, Strauss Kahn got around the "No More Argentinas" rule by having a new IMF policy that if a country is systemically important, the IMF can lend it the money even if it can't pay, even though it's not credit-worthy, if its default would cause a problem in the global financial system (meaning a loss by Wall Street or other bankers). But Ukraine is not systemically important. It's part of the Russian system, not the western system. Most of its trade is with Russia.

As you just pointed out, when Lagarde made the IMF's last Ukrainian loan, she said that she hoped its economy would stabilize instead of fighting more war in its eastern export region. The next day, President Poroshenko said that now that it had got the loan, it could go to war against the Donbass, the Russian speaking region. Some $1.5 billion of the IMF loan was given to banks run by Kolomoisky, one of the kleptocrats who fields his own army. His banks send the IMF's gift abroad to his own foreign banks, using his domestic Ukrainian money to pay his own army, allied with Ukrainian nationalists flying the old Nazi SS insignia fighting against the Russian speakers. So in effect, the IMF is serving as an am of the U.S. military and State Department, just as the World Bank has long been.

ED: I want to interject two points here for listeners who haven't followed it as closely. Number one is the private army that you're talking about – the Right Sector which is essentially a mercenary force of Nazis in the employ of Kolomoisky. They're also part of what's now called the Ukrainian National Guard. This paramilitary organization that is being paid directly by Kolomoisky. Number two – and this relates back to something that you were saying earlier, Michael – that IMF loan went to pay for a lot of the military equipment that Kiev has now used to obliterate the economic and industrial infrastructure of Donbass, which was Ukraine's industrial heartland. So from the western perspective it's killing two birds with one stone. If they can't strip the assets and capitalize on them, at least they can destroy them, because the number one customer was Russia.

MH: Russia had made much of its military hardware in Ukraine, including its liftoff engines for satellites. The West doesn't want that to continue. What it wants for its own investors is Ukraine's land, the gas rights in the Black Sea, electric and other public utilities, because these are the major tollbooths to extract economic rent from the economy. Basically, US/NATO strategists want to make sure, by destroying Ukraine's eastern export industry, that Ukraine will be chronically bankrupt and will have to settle its balance-of-payments deficit by selling off its private domain to American, German and other foreign buyers.

ED: Yes, that's Monsanto, and that's Hunter Biden on the Burisma board (the gas company). It's like you said earlier, you wouldn't even believe it if someone would have made it up. It's so transparent, what they're doing in Ukraine.

Financialization of pension plans and retirement savings
I want to switch gears a bit in the short time we have remaining, because I have two more things I want to talk about. Referring back to this parasitical relationship on the real economy, one aspect that's rarely mentioned is the way in which many regular working people get swindled. One example that comes to my mind is the mutual funds and other money managers that control what pension funds and lots of retirees invest in. Much of their savings are tied up in heavily leveraged junk bonds and in places like Greece, but also recently in Puerto Rico which is going through a very similar scenario right now. So in many ways, US taxpayers and pensioners are funding the looting and exploitation of these countries and they're then financially invested in continuing the destruction of these countries. It's almost like these pensioners are human shields for Wall Street.

MH: This actually is the main theme of my book – financialization. Mutual funds are not pension funds. They're different. But half a century ago a new term was coined: pension fund capitalism, sometimes called pension fund socialism. Then we got back to Orwellian doublethink when Pinochet came to power behind the natural alliance of the Chicago School with Kissinger at the State Department. They immediately organized what they called labor capitalism. n labor capitalism labor is the victim, not the beneficiary. The first thing they did was compulsory setting aside of wages in the form of ostensible pension funds controlled by the employers. The employers could do whatever they wanted with it. Ultimately they invested their corporate pension funds in their own stocks or turned them over to the banks, around which their grupo conglomerates were organized. They then simply drove the businesses with employee pension funds under, wiping out the pension fund liabilities – after moving the assets into their captive banks. Businesses were left as empty corporate shells.

Something similar happened in America a few years ago with the Chicago Tribune. Real estate developer Sam Zell borrowed money, bought the Tribune, using the Employee Stock Ownership Plan (ESOP) essentially to pay off the bondholders. He then drove/looted the Tribune into bankruptcy and wiped out the stockholders. Employees brought a fraudulent conveyance suit.

Already fifty years ago, critics noted that about half of the ESOPs are wiped out, because they're invested by the employers, often in their own stock. Managers give themselves stock options, which are given value by employee purchases. Something similar occurs with pension funds in general. Employee wages are paid into pension funds, which bid up the stock prices in general. On an economy-wide basis, employees are buying the stock that managers give themselves. That's pension fund capitalism.

The underlying problem with this kind of financialization of pensions and retirement savings is that modern American industry is being run basically for financial purposes, not for industrial purposes. The major industrial firms have been financialized. For many years General Motors made most of its profits from its financial arm, General Motors Acceptance Corporation. Likewise General Electric. When I was going to school 50 years ago, Macy's made most of its money not by selling products, but by getting customers to use its credit cards. In effect, it used its store to get people to use its credit cards.
Last year, 92% of the earnings of the Fortune 100 companies were used for stock buy-backs -- corporations buying back their stock to support its price – or for dividend payouts, also to increase the stock's price (and thus management bonuses and stock options). The purpose of running a company in today's financialized world is to increase the price of the stock, not to expand the business. And who do they sell the stock to? Essentially, pension funds.

There's a lot of money coming in. I don't know if you remember, but George W. Bush wanted to privatize Social Security. The idea was to spend all of its contributions – the 15+% that FICA withholds from workers paychecks every month – into the stock market. This would fuel a giant stock market boom. Money management companies, the big banks, would get an enormous flow of commissions, and speculators would get rich off the inflow. It would make billionaires into hundred-billionaires. All this would soar like the South Sea Bubble, until the American population began to age – or, more likely, begin to be unemployed. At that point the funds would begin to sell the stocks to pay retirees. This would withdraw money from the stock market. Prices would crash as speculators and insiders sold out, wiping out the savings that workers had put into the scheme.

The basic idea is that when Wall Street plays finance, the casino wins. When employees and pension funds play the financial game, they lose and the casino wins.

ED: Right, and just as an example for listeners – to make what Michael was just talking about it even more real – if we think back to 2009 and the collapse of General Motors, it was not General Motors automotive manufacturing that was collapsing. It was GMAC, their finance arm, which was leveraged on credit default swaps, collateralized debt obligations and similar financial derivatives – what they call exotic instruments. So when Obama comes in and claimed that he "saved General Motors," it wasn't really that. He came in for the Wall Street arm of General Motors.

Obama's demagogic role as Wall Street shill for the Rubinomics gang
MH: That's correct. He was the Wall Street candidate, promoted by Robert Rubin, who was Clinton's Treasury Secretary. Basically, American economic policies can run by a combination of Goldman Sachs and Citigroup, often interchangeably.

ED: This was demonstrated very clearly in the first days of Obama taking office. Who does he meet with to talk about the financial crisis? He invites the CEOs of Goldman Sachs and JP Morgan, Bank of America, Citi and all of the rest of them. They're the ones who come to the White House. It's been written about in books, in the New Yorker and elsewhere. Obama basically says, "Don't worry guys, I got this."

MH: Ron Suskind wrote this. He said that Obama said, "I'm the only guy standing between you and the pitchforks. Listen to me: I can basically fool them." (I give the actual quote in my book.) The interesting thing is that the signs of this meeting were all erased from the White House website, but Suskind has it in his book. Obama emerges as one of the great demagogues of the century. He may be even worse than Andrew Jackson.

ED: So much of it is based on obvious policies and his actions. The moment he came to power was a critical moment when action was needed. Not only did he not take the right action, he did exactly what Wall Street wanted. In many ways we can look back to 2008 when he was championing the TARP, the bailout, and all the rest of that. None of that would have been possible without Obama. That's something that Democrats like to avoid in their conversations.

MH: That's exactly the point. It was Orwellian rhetoric. He ran as the candidate of Hope and Change, but his real role was to smash hope and prevent change. By keeping the debts in place instead of writing them down as he had promised, he oversaw the wrecking of the American economy.

He had done something similar in Chicago, when he worked as a community organizer for the big real estate interests to tear up the poorer neighborhoods where the lower income Blacks lived. His role was to gentrify them and jack up property prices to move in higher-income Blacks. This made billions for the Pritzker family. So Penny Pritzker introduced him to Robert Rubin. Obama evidently promised to let Rubin appoint his cabinet, so they appointed the vicious anti-labor Rahm Emanuel, now Chicago's mayor, as his Chief of Staff to drive any Democrat to the left of Herbert Hoover out of the party. Obama essentially pushed the Democrats to the right, as the Republicans gave him plenty of room to move rightward and still be the "lesser evil."

So now you have people like Donald Trump saying that he's for what Dennis Kucinich was for: a single payer healthcare program. Obama fought against this, and backed the lobbyists of the pharmaceutical and health insurance sectors. His genius is being able to make most voters believe that he's on their side when he's actually defending the Wall Street special interests that were his major campaign contributors.

ED: That's true. You can see that in literally every arena in which Obama has taken action. From championing so-called Obamacare, which is really a boon for the insurance industry, to the charter schools to privatize public education and also become a major boon for Wall Street, for Pearson and all these major education corporations. In terms of real estate, in the gentrification, all the rest. Literally every perspective, every angle from which you look at Obama, he is a servant of finance capital of investors, not of the people. And that's what the Democratic Party has become, delivering its constituency to Wall Street.

A left-wing economic alternative
MH: So here's the problem: How do we get the left to realize this? How do we get it to talk about economics instead of ethnic identity and sexual identity and culture alone? How do we get the left to do what they were talking about a century ago – economic reform and how to take the side of labor, consumers and debtors? How do we tell the Blacks that it's more important to get a well paying job? That's the way to gain power. I think Deng said: "Black cat, white cat, it doesn't matter as long as it catches mice." How do we say "Black president, white president, it doesn't matter, as long as they give jobs for us and help our community economically?"

ED: I think that's important and I want to close with this issue: solutions. One of the things I appreciate in reading your book is that it is broken up into sections. The final section, I think, is really important. You titled it: "There Is An Alternative." That is of course a reference to Margaret Thatcher's TINA (There Is No Alternative). That ideology and mindset took over the left, or at least the nominally left-wing parties. So you're saying that there is an alternative. In that section you propose a number of important reforms. You argue that they would restore industrial prosperity. Now, I'm not asking you to name all of them, to run down the list, but maybe touch on a little bit of what you included, and why that's important for beginning to build this alternative.

MH: There are two main aims that classical economists had 200 years ago. One was to free society from debt. You didn't want people to have to spend their lives working off the debt, whether for a home, for living or to get an education. Second, you wanted to fund industry, not by debt but by equity. That is what the Saint-Simonians and France did. It's what German banking was famous for before World War I. There was a debate in the English speaking countries, especially in England saying that maybe England and the Allies might lose World War I because the banks are running everything, and finance should be subordinated to fund industry. It can be used to help the economy grow, not be parasitic.

But instead, our tax laws make debt service tax deductible. If a company pays $2 billion a year in dividends, a corporate raider can buy it on credit and, if there's a 50% stock rate, he can pay $4 billion to bondholders instead of $2 billion to stockholders. Over the past twenty years the American stock market has become a vehicle for corporate raiding, replacing equity with debt. That makes break-even costs much higher.

The other point I'm making concerns economic rent. The guiding idea of an economic and tax system should be to lower the cost of living and doing business. I show what the average American wage earner has to pay. Under the most recent federal housing authority laws, the government guarantees mortgage loans that absorb up to 43% of family income. Suppose you pay this 43% of income for your home mortgage, after the 15% of your wages set aside for Social Security under FICA.

Instead of funding Social Security out of the general budget and hence out of what is still progressive taxation, Congress has said that the rich shouldn't pay for Social Security; only blue-collar workers should pay. So if you make over $115,000, you don't have to pay anything. In addition to that 15% wage tax, about 20% ends up being paid for other taxes – sales taxes, income taxes, and various other taxes that fall on consumers. And perhaps another 10% goes for bank loans besides mortgages – credit card loans, student loans and other debts.

That leaves only about 25% of what American families earn to be spent on goods and services – unless they borrow to maintain their living standards. This means that if you would give wage earners all of their food, all their transportation, all their clothing for nothing, they still could not compete with foreign economies, because so much of the budget has to go for finance, insurance and real estate (FIRE). That's why our employment is not going to recover. That's why our living standards are not going to recover.

Even if wages do go up for some workers, they're going to have to pay it to the bank for education loans, mortgage loans (or rent), bank debt and credit card debt, and now also for our amazingly expensive and rent-extracting medical insurance and health care and medications. The result is that if they try to join the middle class by getting higher education and buying a home, they will spend the rest of their lives paying the banks. They don't end up keeping their higher wages. They pay them to the banks.

ED: You don't have to tell me. I'm living that reality. Interestingly, in that final section of your book you talk about alternatives, like a public banking option that many people have discussed. You talk about the Social Security cap that you were just mentioning, and focus on taxing economic rent. Some critics would suggest that these sorts of reforms are not going to be able to salvage the capitalist model that is so ensconced in the United States. So I want to give you a chance to sort of present that argument or maybe rebut it.

MH: I won't rebut that criticism, because it's right. Marx thought that it was the task of industrial capitalism to free economies from the economic legacies of feudalism. He saw that the bourgeois parties wanted to get rid of the "excrescences" of the industrial capitalist marketplace. They wanted to get rid of the parasites, the landowners and usurious creditors. Marx said that even if you get rid of the parasites, even if you socialize finance and land that he dealt with in volume II and III of Capital, you're still going to have the Volume I problem. You're still going to have the exploitation problem between employers and employees – the labor/capital problem.

My point is that most academic Marxists and the left in general have focused so much on the fight of workers and labor unions against employers that they tend to overlook that there's this huge FIRE sector – Finance, Insurance, and Real Estate – tsunami is swamping the economy. Finance is wrecking industry and government, along with labor. The reforms that Marx expected the bourgeois parties to enact against rentiers haven't occurred. Marx was overly optimistic about the role of industrial capitalism and industrialized banking to prepare the ground for socialism.

This means that until you complete the task of freeing of society from feudalism – corrosive banking and economic rent as unearned income – you can't solve the industrial problems that Marx dealt with in Volume I. And of course even when you do solve them, these problems of labor exploitation and markets will still exist.

ED: Yes, absolutely. Well we're out of time. I want to thank you for coming onto the program. Listeners, you heard it. There's so much information to digest here. The book is really brilliant, I think essential reading, required reading – Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy, available through CounterPunch, as well as on Amazon. Michael Hudson professor of economics at University of Missouri Kansas City, his work is all over the place. Find it regularly on CounterPunch, as well as on his website michael-hudson.com. Michael Hudson thanks so much for coming on CounterPunch Radio.

MH: It's great to be here. It's been a wonderful discussion.

ED: Thank you

[Jan 08, 2019] The Financial Sector Is the Greatest Parasite in Human History by Ben Strubel

Highly recommended!
The key point is that financial industry needs to be strictly regulated and suppressed, because after a cirtain point it stage coup d'état, banksters come to power and turn the industry into cancer for the society with it uncontrolled parasitic growth.
Notable quotes:
"... In economics, the financial sector is typically lumped in with the insurance sector and real estate (the financial portion of the real estate sector, not construction) sector. Together, the sectors are often abbreviated and called the FIRE sector. In this article I will talk mainly about the finance portion of the FIRE sector since it is by far the largest, most visible, and most corrupt. ..."
"... The job of the finance sector is simply to manage existing resources . It creates nothing. Therefore, the smaller the financial sector is the more real wealth there is for the rest of society to enjoy. The bigger the financial sector becomes the more money it siphons off from the productive sectors. ..."
"... Neither of these two friendly fellows actually does much, if anything, in the way of actual investing. Sure, they learn the lingo, dress sharply, and probably know more than the average Joe, but they don't call the shots. That happens at Big Bank HQ. ..."
"... Somewhere in the belly of the beast there is a gaggle of highly paid, largely worthless economists and market technicians. Using some combination of tea leaves, voodoo, crystal balls, and tarot cards, these guys come up with the selection of one-size-fits-most, happy-meal portfolios that clients will be invested in. Actually, scratch that. Portfolios aren't assembled using all kinds of mystical methods; they are assembled using cold hard cash. (It's the finance sector. Did you think they spoke a language other than green?) See, various mutual fund companies pay marketing fees and other dubiously legal payments to the advisory firms to get them to sell their funds. In 2010, mutual fund companies paid $3.5B in perfectly legal "pay to play" schemes to get their funds featured in various investment lineups. ..."
"... One significant source of profit for the financial sector has been exploiting public, taxpayer-owned infrastructure. It should be blatantly obvious that these deals are bad for citizens, as the fees charged to citizens for use of the asset must not only cover servicing costs and maintenance capital expenditures but must also generate profit for the firms buying the assets. ..."
"... As the financial sector funnels more and more resources into lobbying and bribes (let's face it, campaign contributions are nothing more than legal bribery), it has been able to strip an ever-greater amount of state-owned assets from the public. Public asset strip mining is one of the chief causes of the increasing profitability of the financial sector. ..."
March 13, 2014

Before I begin this article want to make the point that what I'm about to say doesn't apply to everyone in the industry. While the average mutual fund, broker, wealth manager, and hedge fund charges high fees and delivers poor results it doesn't apply to everyone. I know lots of good, honest hedge fund managers that charge reasonable fees. I know lots of wealth managers that act in their client's best interest and don't gouge them on fees. Unfortunately these are the exceptions rather than the rule.

Over the past year or so, the issue of rising income inequality in the United States (and even worldwide) has come front and center. Most of what I've read has focused on wages, union membership, unemployment, taxation, government subsidy, and executive pay issues.

There is one issue whose role I think is overlooked in the mainstream media: the role the financial sector plays in exacerbating income inequality. In fact, I believe the financial sector is one of the prime causes, and at its current point is perhaps the greatest parasite in human history. It is sucking wealth from the productive sectors of the economy at an unprecedented rate.

Before we go any further, I want to define the term "income inequality." When I use that term, I am referring to the fact that, on average, the incomes and standard of living of American workers is not keeping pace with productivity. I'm also using the term, in part, to explain why workers and executives in some parts of the economy are overpaid in relation to the benefits they provide. What I am not doing is making a blanket statement that money should be taken away from successful, hardworking people and given or "redistributed" to the lazy.

The Role of the Financial Sector

In economics, the financial sector is typically lumped in with the insurance sector and real estate (the financial portion of the real estate sector, not construction) sector. Together, the sectors are often abbreviated and called the FIRE sector. In this article I will talk mainly about the finance portion of the FIRE sector since it is by far the largest, most visible, and most corrupt.

The problem is that the financial, insurance, and real estate (FIRE) sectors do not actually produce any goods or services. If you go on Google Finance you'll see it divides the economy into ten sectors: energy, basic materials, industrials, cyclical consumer goods, non-cyclical consumer goods, financials, healthcare, technology, telecommunications, and utilities.

The nine nonfinancial sectors all produce goods or services. For example, the energy sector companies drill for our oil and refine it into gasoline (e.g., ExxonMobil); the basic materials sector mines our iron (BHP Billiton) and refines it into steel (Nucor); the industrial sector produces the mining equipment (Caterpillar) used by the previously mentioned sectors; the cyclical consumer goods sector produces our cars (Ford) or sells our everyday items (Wal-Mart); the non-cyclical consumer goods sector sells the things we need no matter what, such as groceries (Safeway); the healthcare sector provides the medicines that heal us (Johnson & Johnson); the technology sector gives us the computers and software we use (Apple); the telecommunications sector gives us the ability to communicate (Verizon); and the utility sector gives us the power to run our homes and businesses (Duke Energy).

The financial sector? Well, according to Harvard professor Greg Mankiw, chief academic apologist for the financial sector, this is what it's supposed to do:

Those who work in banking, venture capital, and other financial firms are in charge of allocating the economy's investment resources. They decide, in a decentralized and competitive way, which companies and industries will shrink and which will grow.

The job of the finance sector is simply to manage existing resources . It creates nothing. Therefore, the smaller the financial sector is the more real wealth there is for the rest of society to enjoy. The bigger the financial sector becomes the more money it siphons off from the productive sectors.

The graph below shows how the financial sector has grown since 1960. The figures are shown as a percentage of investment (using both gross and net investment).

Graphic source: Jacobin Magazine

Graphic source: Jacobin Magazine

As you can see, the financial sector has almost doubled or tripled in size since 1960. That means it is extracting double or triple the amount of money from the real economy!

Just how much?

I want to go through several areas of the economy to show you how the financial sector is extracting money and offering no benefit.

The Grift in Your Retirement Plan

I want to start with the industry I work in, wealth management. When I started my business, I was cognizant of how investors were ill served by the traditional model of wealth management and vowed to run my business differently. Unfortunately, a vast majority of the financial industry has built an unrivaled apparatus for extracting huge sums of money from retirees and mom-and-pop investors.

Say, you're sitting on your couch, watching TV and thinking about retirement. You just got part of your inheritance and think investing it for the future would be a sensible idea. Imagine you haven't the slightest idea how to get started. Then a commercial comes on with Tommy Lee Jones telling you how trustworthy Ameriprise is. Maybe you hear the reassuring voice of John Houseman pitching Smith Barney, or you might see the iconic bull charging across the desert for Merrill Lynch.

Say you decide to go down to your local brokerage and meet with a financial advisor. His (or her) pitch sounds good, so you decide to become a client.

The first problem is the guy you met. Remember how he told you he has his finger on the pulse of the market, he has access to the best investment research, he is always taking continuing education classes, and he is always monitoring your portfolio? He isn't. He could be a complete moron. He got hired (and survived and thrived) because he is a good salesman. Nothing less and nothing more. He takes his orders on what to sell from the top -- the gaggle of people with their fingers in your retirement pie, helping themselves to regular bites.

The first person behind the scenes telling our hapless salesman what to do is some sort of office, district, or regional manager. This is manager is just like the salesman but with more ambition. Almost all of these guys were promoted from sales, and their job is do an impersonation of Alec Baldwin from Glengarry Glen Ross, yelling at the underperformers ("Coffee is for closers!") to get out there and sell the turd of the month. ("XYZ Mutual Fund Company just paid our firm $200M," this manager says, "so get out there and sell their funds! And, Jones, if you don't gross $20,000 by the end of this month you're fired! Meeting adjourned.")

Neither of these two friendly fellows actually does much, if anything, in the way of actual investing. Sure, they learn the lingo, dress sharply, and probably know more than the average Joe, but they don't call the shots. That happens at Big Bank HQ.

Somewhere in the belly of the beast there is a gaggle of highly paid, largely worthless economists and market technicians. Using some combination of tea leaves, voodoo, crystal balls, and tarot cards, these guys come up with the selection of one-size-fits-most, happy-meal portfolios that clients will be invested in. Actually, scratch that. Portfolios aren't assembled using all kinds of mystical methods; they are assembled using cold hard cash. (It's the finance sector. Did you think they spoke a language other than green?) See, various mutual fund companies pay marketing fees and other dubiously legal payments to the advisory firms to get them to sell their funds. In 2010, mutual fund companies paid $3.5B in perfectly legal "pay to play" schemes to get their funds featured in various investment lineups.

You, the investor, are usually charged somewhere around 1% to 1.5% of assets annually for this "service." I've seen clients charged as much as 1.65% and I've come across firms advertising fees as high as 2% per year for clients with small account balances. For large portfolios (typically $1M or more) the fees start going down and I've seen rates as low as .5% or less. These fees are split up between your advisor, the district manager, and the firm itself. Keep in mind that these are fees before any investments have been made!

So who actually makes the investments in stocks and bonds? It's the portfolio managers at the mutual fund companies. According to the Investment Company Institute 2011 Fact Book (the ICI is a pro-mutual fund organization), the average mutual fund in 2010 charged 1.47% of assets annually. That's in addition to an average up-front sales charge of 1%.

Why so expensive? Well, the funds are towing a lot of dead weight. According to the ICI 2013 Fact Book, only 42% of mutual fund employees were employed in fund management positions or fund administrative positions. The rest, 58%, were employed in either investor servicing (34%) or sales and distribution (24%) job functions.

Like any good infomercial says, "But wait! There's more!" When you buy a stock or bond, you can't just go grab it off the shelf like you are shopping at Wal-Mart. You need to go through a brokerage. A 1999 study by Chalmers, Edelen, and Kadlec found that the average mutual fund incurs trading expenses of .78% per annum. A newer study in 2004 by Karceski, Livingston, and O'Neal found brokerage commissions cost funds around .38% per annum, or .58% if you account for the effect trading large blocks of stock has on the bid-ask spread.

But wait! There's more! Mutual funds and your average retail investor are relatively unsophisticated, so a new industry has popped up to take advantage of them. It's called "high frequency trading" or HFT for short. These are powerful computers programmed to take advantage of "dumb" traders in the market. These HFT firms place their computers physically next to the stock exchange computers in the datacenters and buy access to market quotes milliseconds before they are made public. They use these and other advantages to skim profits from other legitimate investors (that is, people buying stocks because they want to own part of the underlying company).

All told, it's not uncommon to see investors incurring annual expenses of 2%, all the way up to 4% per year.

Institutions and the Rich Have the Same Problem

The problem isn't just limited to Joe Six-pack Retiree. Large institutional investors, such as pension funds, and "sophisticated" rich investors get taken to the cleaners too.

Once upon a time someone came up with a great idea: Since an all-stock portfolio is volatile, why not "hedge" the portfolio and sell some stocks short? If you bet that good stocks will go up (buying stocks in the good companies or going long) and bad stocks will go down (selling the stock short) then you could limit volatility and maybe make some extra money. (You'd make money both when the good stocks went up and the bad stocks went down). It was and is a pretty good idea when done correctly. Unfortunately, the term "hedge fund," like the term "mutual fund," has lost its original meaning. The term hedge fund is now used to refer to any type of pooled investment vehicle that is limited to select clients (usually rich, sophisticated investors and institutions, although the rules vary worldwide).

The rule of thumb is that hedge funds charge a 2% per year management fee and keep 20% of all profits, the proverbial "2 and 20" compensation. According to a WSJ article , this old adage isn't too far off; the average hedge fund charges 1.6% per year and keeps 18% of profits.

In 2012, hedge funds removed $50.5B from their investors' pockets. In fact, according to an article in Jacobin Magazine, the top 25 hedge fund managers make more money than the CEOs of all S&P 500 companies combined. Combined!

Have they earned it? Well, the answer seems to be no. I pulled the last four years of return data for two hedge fund indices: the Barclays Hedge Fund Index and the Credit Suisse AllHedge Index. These two indices track thousands of hedge funds across the globe. I compared them with the returns of the Vanguard Total World Stock Index Fund and the Vanguard Total World Bond Market Index Fund as well as a 50/50 portfolio of the two Vanguard Funds. All returns shown are net of fees.

strbl2

The Vanguard stock fund trounced both hedge fund indices, and the Credit Suisse index managed only to beat the returns of bonds by .01%.

Right about now you will hear the howls of the "hedgies" complaining. I wasn't quite fair to the hedge funds. A lot, but not all, of them are hedged so returns in down markets will be better and four years isn't a terribly long time to look at.

The two graphs below show the returns for the Credit Suisse index since 2004 and the maximum drawdowns (losses) since 2004.

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First, over 10 years the returns for hedge funds are atrocious, only about 25% in total. They do have a point that the draw downs are lower. The maximum losses experienced during the downturn only averaged about 25%. Fine, but the Vanguard Total Bond Market Index had barely any draw downs during the crisis and returned over 50% during a similar time period.

strbl5

Unfortunately, Vanguard does not have return data for any of its World Stock funds for a complete 2008 calendar year so I was unable to get exact data for my 50/50 portfolio. But I'd be willing to bet it beats the hedge fund indices on a risk adjusted basis.

When you hear about underfunded pension plans, part of the blame lies with pension investment committees and their investments in hedge funds. These funds, in aggregate, have not earned the fees they charge and have instead funneled the money of retirees into the hands of a wealthy few.

I'm not alone in reaching this conclusion. Pension funds are slowly starting to see the light and reducing their allocations to "alternative" investments, such as hedge funds, and reallocating the capital to indexed products or negotiating with the funds for lower fees.

It's not just the traditional investment arena where the financial sector has run wild. Its unending quest for siphoning money from the economy has spilled out into other areas.

Speculation in Commodities Costs Main Street Billions

Speculation by the financial sector in the commodities market is impacting the entire world. The passage of the Commodities Futures Modernization Act (CFMA) has allowed big banks to engage in almost limitless speculation in the commodities market. Wall Street has convinced everyone from individual investors to pension funds and endowments that they need to include commodities in their portfolios for deworsification, I mean, diversification purposes. Between investors plowing more than $350B into the commodities market and what appears to be outright manipulation of commodities prices, the financial sector has increased the costs of everything from wheat to heating oil and aluminum to gasoline.

An executive for MillerCoors testified that manipulation of the aluminum market cost manufacturers over $3B. The World Bank estimated that in 2010, 44 million people worldwide were pushed into poverty because of high food prices. The chief cause? More than 100 studies agree the cause is speculation in the commodities market. (Goldman Sachs made $440M in 2012 from food market speculation.) For Americans who love their cars (and SUVs), the biggest impact might be felt at the gas pump where experts estimate that financial speculation has added anywhere from $1 to $1.50 to gas prices.

For more information on speculation in the commodities, I recommend Matt Taibbi's excellent pieces, in-depth information at Better Markets , or some of my articles on commodities.

If you think it's bad enough that Wall Street is raising the price of your food, heating oil, gasoline, and Pepsi, then wait until you get a load of one of the Street's other ingenious ideas for helping themselves to more of your money.

Corruption of Public Infrastructure

One significant source of profit for the financial sector has been exploiting public, taxpayer-owned infrastructure. It should be blatantly obvious that these deals are bad for citizens, as the fees charged to citizens for use of the asset must not only cover servicing costs and maintenance capital expenditures but must also generate profit for the firms buying the assets.

The first and most obvious examples of this type of fraud (I choose to use the term "fraud" because I believe that is exactly what these deals are) are government entities selling public, taxpayer-owned infrastructure, such as road, bridges, parking facilities, and ports, to the private sector so that they can extract rent from the users. The deals are usually touted as saving taxpayers money and letting the "more efficient" private sector better manage the asset. This is false. Many studies show private ownership of public goods does not lead to any cost savings. A comprehensive econometric study done in 2010 of all available public vs. private studies by Germa Bel, Xavier Fageda, Mildred E. Warner at the University of Barcelona found no cost saving in privatizing public water or solid waste management services and infrastructure.

The case is no different when it comes to public roads. A 2007 paper by US PIRG found that privatizing roads never benefits citizens. Financial firms were typically able to buy the assets on the cheap and then raise toll rates while usually sneaking language into the agreements that prevented governments from building competing infrastructure. The paper presented evidence that the Indiana Toll Road lease will cost taxpayers at least $7.5B.

One of the most egregious examples of the financial sector extracting rent is the 2009 sale of Chicago's parking meters to a consortium led by Morgan Stanley. Shortly after the lease was finalized, rates at many parking meters increased (in some case by quadruple the amount). The Chicago Inspector General found that the city was underpaid by almost $1B for the lease. Meanwhile, in 2010 Morgan Stanley banked $58 million in profits from the parking meters. With no way out of the deal , the citizens of Chicago are now paying Morgan Stanley for the right to use assets they used to own!

The second way in which taxpayers are exploited by the financial sector is so-called public-private partnerships (also referred to as PPP or P 3 ). There is no set definition for what constitutes a PPP arrangement, and it is possible some might be beneficial in limited circumstances. I want to focus on one specific type of PPP that enriches the financial sector: when public projects are privately financed. There is absolutely no reason for any government project to ever require paying "rent" to the financial sector in the form of financing.

The United States federal government is the monopoly supplier of US dollars. It can add them to the economy at will through deficit spending or remove them via taxation. There is no earthly reason for a public entity to be forced to depend on the private sector to provide any type of financing. The only constraint on whether or not money should be spent is whether the economy is at full capacity (full employment and full industrial capacity utilization) where the additional deficit spending may cause inflation.

State and local governments are unable to issue currency and therefore must depend on revenue raised via taxation, distributions from the federal government, or money raised through bond issuance. Even then, studies have shown that PPPs are more expensive compared to the state or local entity securing financing through the municipal bond market.

As the financial sector funnels more and more resources into lobbying and bribes (let's face it, campaign contributions are nothing more than legal bribery), it has been able to strip an ever-greater amount of state-owned assets from the public. Public asset strip mining is one of the chief causes of the increasing profitability of the financial sector.

So far we've dealt with examples that are pretty easy to see. Everyone who owns a car knows that gas prices have been rising too fast and food is more expensive. The citizens of Chicago know they are getting shafted on the parking meter deal since parking rates have quadrupled. But there are hidden areas of the economy where the financial sector is ripping off the public too.

Interest Rate Manipulation

Do you know what LIBOR is? And what it's used for? A lot of financial types read my newsletters, so I'm sure some of you do. But the average man or woman on the street likely does not.

LIBOR stands for London Interbank Offered Rate and is the average interest rate banks in London estimate that they would be charged if they borrowed from other banks. This rate is used worldwide by mortgage lenders, credit card agencies, banks, and other financial institutions to set interest rates. By some estimates, more than $350T in financial products, derivatives, and contracts are tied to LIBOR.

In 2012, it was discovered that, since 1991, banks were falsely inflating or deflating the interest rates they reported. (Remember banks essentially make up their own interest rates and report them with the results being essentially averaged and reported as LIBOR.) The banks did this in order to profit from trades or to make themselves look more creditworthy than they were.

The Macquarie Group estimated that the manipulation of LIBOR cost investors $176B. (Keep in mind this is an estimate coming from a financial firm, so it would be prudent to assume it's on the low end.)

Andrew Lo, a finance professor at MIT, said the fraud "dwarfs by orders of magnitude any financial scam in the history of the markets."

Food Stamps (SNAP) and Welfare (TANF)
I highly doubt any of my clients or readers are beneficiaries of the SNAP or "food stamps" program and are probably not very familiar with it. While it is nominally a government program it has been corrupted by the big banks. Benefits are provided electronically via debit cards (EBT cards). JP Morgan has made over $500M from 2004 to 2012 providing EBT benefits to 18 states. The banks then are free to reap fees from users for such things as cash withdraws for TANF benefits, out of network ATM fees, lost card replacement fees, and even customer service calls.

I believe you can judge how profitable a service is to a company how much it spends on lobbying. In the case of JPMorgan, its bribes, I mean campaign contributions to Agriculture Committee (SNAP is part of the Department of Agriculture) members increased sharply after it entered the EBT market in 2004.

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(Graphic source: GAI via data from CRP) Summary

A bloated and out-of-control financial sector does not add any value to society. Society benefits when the financial sector is kept as small as possible.

The financial sector is a parasite that depends on its host organism, the productive sector of the economy, to fuel its profits. The larger the financial sector grows, the more wealth it extracts from the productive sectors of the economy. With all due respect to Matt Taibbi, Goldman Sachs isn't a vampire squid; the entire financial sector is the vampire squid with its tentacles reaching into the pockets of citizens everywhere and sucking out money.


Brian | March 13, 2014 at 9:44 am

Quite a damning critique, and if I may step away from the main point I have to ask: why is it that some guys involved with finance, Strubel as well as Auerback, Mosler and Ritholtz, talk like this while so many in the field do not? Does everyone involved "know" all this but most simply choose to put on blinders?

Jim Shannon | March 13, 2014 at 9:57 am

Great Article about the .01% "Taker Class". This can all end by the 99% demanding a change to the TAX CODE! Yet another clear indication of the manipulation of the "Giver Class" by government!

Jonathan | March 13, 2014 at 11:00 am

Its truly frightening to see how the public has been blindsided/mislead about the root causes of rapid income inequality. As a social worker I am somwhat familiar with the SNAP benefit program Depressing to think JP Morgan Chase skimmed at least 500m over an eight year period for SNAP and welfare benefits. I suppose this is the new age enclosure movement where Wall Street is picking up public assets for pennies on the dollar and charging enormous rents..

The questions is.. what happens when it is used up?? A scorched wasteland of dysfunctional infrastruture/gated communites housing a tiny elite protected from beggars, street criminals, and gang bandits??

Zane Zodrow | March 13, 2014 at 2:07 pm

Excellent article. Easy for a layperson to understand and covers a good portion of the pervasive, ongoing, worldwide financial system theft. I worked for a stock brokerage firm years ago while studying for the series 7. Once I figured out they were all just well-dressed telemarketers, I quit and found a more productive job. Remember 'dogs of the Dow' ?

Dale Pierce | March 13, 2014 at 2:11 pm

A very well-written and eye-opening post – thanks, Ben. I think the formulation of this central point may be a little skewed, though: " the smaller the financial sector is the more real wealth there is for the rest of society to enjoy. The bigger the financial sector becomes the more money it siphons off from the productive sectors."

I think this formulation may be somewhat muddling the real-vs.-financial dichotomy that MMT revolves around. Sort of by definition, the financial sector is 100 percent nominal – even when it posits ownership of real assets, it is really just money-valuing them, applying the unit-of-account property of money. The ownership is an abstraction. The owner of a share of stock or a gold ETF has no concrete interaction with the company or commodity in question. So, contrasting the total size of the financial sector to the totality of real wealth available – for those members of society who do *not* receive income from the financial sector – leaves me scratching my head. I'm not clear what is being measured. I know that profits flowing to the financial sector have exploded from around two percent of total corporate profits in the 1950s to around forty percent now. This means it is over-charging for its so-called services, but I think the real-economy effects are non-linear, and more complex than this.

Regarding the financial sector's growing tendency to siphon off money from the productive sectors – yes, they do this. But it is up to the state, with its currency-issuing and taxing powers, to regulate how far this process goes and what happens next. In a recent post, J.D. Alt took note of the ephemeral nature of the financial sector's nominal money-wealth. It is "fictitious capital". Electronic poker chips. Just zeros and ones, really. As long as the plutocrats simply hoard them – use them to keep score – the state can just replace them by increasing spending. I also tend to think that the consumption spending of the .01 percent is rather inelastic. They already have everything they want. Keynes' attitude was to let them live it up, up to a point, and then tax the excess back when they die.

For me, the most important part of your post is the section on commodity speculation and infrastructure privatization. This truly is a huge deal, a clear interaction with the real economy and a terrible crime, actually. Again, though, it is up to the state to permit these outrages or ban them – we used to ban them but we stopped. So. One more big thank-you to the Big Dog, I guess. To think – before Clinton, America actually based aid to poor children on their ages and their poverty rather than the supposed moral imperfections of their parents. We even had no-fee food stamps.

Obviously, the other reason we can't just let the one percent play their casino games is that they eventually blow up the real economy, as a totality, through financial crises and destabilization. And, due to all the fabulist monetary propaganda out there, there is now a big reservoir of public opinion and political will *in favor* of financial collapse. The libertarians and other Paul-Partiers think it would do us all good. And bring back the gold standard. And "End the Fed", and all the rest of that good 19th Century stuff. I'm not a ready-for-Hillary kind of guy in general, but is it possible to imagine a scarier idea than President Rand?

Thanks again, Ben – great post.

golfer1john | March 13, 2014 at 4:44 pm

While most of your specific criticisms are quite valid, I think your brush is a bit too broad. "The problem is that the financial, insurance, and real estate (FIRE) sectors do not actually produce any goods or services. "

This is obviously false. I have many times used services provided by banks, credit unions, insurance companies, and real estate brokers and agents. It would be practically impossible to find the right house to buy, to sell it for a fair price, to get the loan necessary to buy it, or to protect myself and my family from a catastrophic loss without their services.

It is undoubtedly true that most of the volatility of the FIRE sector since 1990 is due to speculation and parasitical activities, but there is undoubtedly also some growth of useful services that has facilitated growth of the other sectors, not detracted from it. Thus it is not always true that "the smaller the financial sector is the more real wealth there is for the rest of society to enjoy".

Bottom line, you have a good point. Excessively broad statements might be more dramatic, but if they are not true they don't help your cause.

golfer1john | March 18, 2014 at 10:04 am

I have gotten real value from real estate brokers. Did you ever try to sell a house without one? Qualify the serious buyers and deal with the lookie-loos? And the government paperwork!! I've always gotten my money's worth.

No, the fire doesn't care if you have insurance, but the insurance company will advise you on how to prevent fires and minimize the damage. Paying an insurance company has protected me from paying the unaffordable high cost of the insured risks. The service provided by insurance is not incident prevention, it is management of financial risk, and it does that very well. My claims have been handled quickly and fairly. I had one unusual case where I thought the insurance company should have paid me more than their original offer (the nation-wide blue book value of the car didn't reflect the unique situation in my State), and after discussion they agreed with me and paid. I've been with them for over 40 years and I'm very happy with their services.

If you want your bank to create wealth for you, you're looking in the wrong place. Banks are good for storing and protecting your money, and many will do that for you without fees, and even pay you interest. They'll let you use their computers to pay your creditors, also without charge. They'll even give you short-term interest-free loans, and pay you cash rebates, if you use their credit cards. I like my banks' services, too. And, of course, if you want to borrow money they will lend it to you and if your payment is late they don't break your legs. They will make a profit, though. That's why they do it. You don't have to participate if you don't want to.

Not every bank is Goldman Sachs, and not every insurance company is AIG. Those are good examples of companies that often serve no useful purpose, but there are many others who do provide useful services at a reasonable cost.

zak | March 17, 2014 at 8:25 pm

Although I can be sympathetic of the no-value creation thesis in the financial industry, comparing the performance of hedge funds with the recent performance of bonds is a no big no-no, because it assumes a negative correlation between equities and bonds. If one look at the world markets in the last 100 years, that has been the exception rather than the rule.

And you forgot to mention the important roles of capital markets in deploying capital and financing companies through IPOs, bond offers, etc.

FSK | March 17, 2014 at 10:05 pm

You missed another big point, negative real interest rates. The Fed Funds Rate is currently 0%-0.25%, while real inflation is much higher. (The CPI is not an accurate measure of inflation.) Big banks can profit by borrowing at 0% and buying stuff (bonds, stocks, commodities, real estate, politicians, whatever).

On LIBOR, here's another interesting bit. Cities and states lost a TON of money on interest rate swaps with banks. What was sold as a "hedge" wound up blowing up and costing a fortune.

http://www.realfreemarket.org/blog/2012/07/10/banksters-rob-cities-via-interest-rate-swaps-and-libor-rate-manipulation/

Ben | March 18, 2014 at 5:32 pm

This was a fascinating piece, very readable for those of us with minimal financial education. However, since this is such a good explainer for the layman, I think it would be very beneficial to explain how big a difference 1% in fees makes for an investor over a lifetime. I know personally when I used to compare funds the difference between 1 and 2% in fees seemed negligible. But then I saw that fantastic PBS Frontline on this topic and saw how much that 1% could cost me over a lifetime! I now have everything that I personally manage in index funds!

Doc | March 19, 2014 at 5:26 am

You can't really argue with what has been said, and all (of us) involved in the sector know it is massive rip off.

While a free market advocate, I think a first step would be to introduce meaningful fee caps on all state promoted or mandated saving arrangements (eg ISAS, and Pensions), on the grounds that the market is skewed by the government intervention that creates the glut of forced buyers, and so to correct that imbalance the market (i.e. consumers) need protection through fee caps. I'd say no more than 20 – 25bps should be permitted for all ISAS and pension savings (DC or DB). Individual wealthy investors (investments of more than say £5m?) can pay what they like.

Paul | March 28, 2014 at 4:18 pm

Ben,

>>The job of the finance sector is simply to manage existing resources. It creates nothing.

This is a dubious assertion, but you clearly believe it. How then, can you in good conscience, charge 1.25% (plus indirect costs for the funds you hold in client portfolios) to manage people's money when you yourself admit you are adding no value?

(source: http://strubelim.com/wp/our-funds/ar-fund/ )

Briana | March 30, 2014 at 8:32 pm

Hi Paul,

I know this was for Ben, but there's a pretty simple answer to that question: They don't charge 1.25% because they create value, they're charging a fee to access the profit created by companies they invest in. Say I told you that I knew a guy named Jimmy who was going to make three bucks for every buck he gets, and I asked if you'd lend me a dollar to give to Jimmy with the promise that he'd give me 1.50 cents of it. I'd want to keep 25 cents but you can have 1.25, and so you agree. I didn't create the 2 extra dollars of value -- Jimmy did -- but I feel justified in asking for a cut because I gave you the tip about Jimmy's value creation ability.

At least, that is my understanding of Ben's statement.

golfer1john | March 30, 2014 at 11:23 pm

Semantics.

There are 6000 publicly traded companies. Some of them will have rising stock prices, some falling. If a money manager can steer you to the rising ones, he is doing something of value. It doesn't mean he created anything physical that didn't exist before. He's doing a service for you that would otherwise have taken you some time and effort to do, and that's what you pay for.

Briana | March 31, 2014 at 10:22 am

Yes, it's a different definition of value. The growth of financial services has been outpacing the growth of other sectors to a monstrous scale, and that makes this distinction important. It signals a kind of corruption that can only mean high inflation and decoupling money from economic output.

golfer1john | April 1, 2014 at 12:05 am

I don't follow. How is financial services different from any other kind of services, in the impact on inflation? Why not also actors, barbers, or any other service profession? The growth of the financial sector might be explained by the fact that it is the industry most able to exploit computers, and the first to do so on a large scale.

The corruption is, I think, a separate issue that is present whenever other people's money is involved. Financial services and government are simply more involved that way than most other industries, and have been all along, dating to long before the recent growth. Corruption is not impossible in any industry, just more attractive when the numbers are larger.

Jim Shannon | April 1, 2014 at 9:20 am

Corruption is never a separate in ANY corporate activity. The TAX CODE treats the wealth of the .01% radically different than Income from Labor, because all Taxes on Capital Gains are deferred until taken and are not TAXED as ordinary income. The TAX CODE is responsible for the corruption of our government because it has put real POWER, the Power of Wealth in the hands of the .01%, to buy whatever it wants, while labor and the poor spend everything they earn or are given , every single year to survive in a economic culture designed for the benefit of the .01%, something no one will write about!

Change the TAX CODE and the Corruption of Society will end!

Briana | April 1, 2014 at 7:23 pm

Barbers and actors being paid for their labor do not have the same impact on inflation as a bank giving out loans and consumer credit at interest. It's not equivalent at all.

Corruption in financial industries is what this article is discussing. If it's a separate issue, I'm confused as to the point of talking about this at all!

Paul | April 1, 2014 at 9:41 am

Briana,

I don't think your explanation is correct. Why wouldn't I go directly to Jimmy in that case and cut out the middle man since he is offering no value add? The fact is, the middle man, Ben, in this case, believes that he can identify superior companies to invest his clients money in and earn a greater return. This is Ben's value add and why he charges 1.25%.

Golfer John is correct and that point, essentially, blows a hole in Ben's thesis here that the financial sector adds no value because they only manage "existing resources". Steering capital to the good ideas that improve consumer wealth and generate a return is a value add and the fact that millions of transactions like this happen voluntarily between consenting adults further supports this.

Physics tells us that matter cannot be created or destroyed, so the same resources that are on this earth today are the same ones that were here 10,000 years ago. So, in that sense, Apple is simply managing "existing resources" when they build the iphone, Toyota simply managing "existing resources" when they build a car, and UPS and US Mail are merely moving "existing resources" from one location to another when they make deliveries, must be no value add there right?

Asserting that the financial sector only manages existing resources, and then citing that as proof of no value add is simply a non sequiter.

golfer1john | April 2, 2014 at 1:50 pm

No, I wasn't, though I have heard that. My theory of markets, and human group behavior in general, is a statistical approach. There are averages, distributions, and temporary equilibriums, but the interesting parts are the outliers. I guess that is more of a quantum flavor than Newtonian. Over time, economies behave cyclically. Much of nature and human group behavior is cyclical.

Briana | April 1, 2014 at 6:21 pm

Paul -- That's true, and a good analogy, except you're getting a bit reductive with the term "existing resources". I agree that "no value" is a bit extreme, which is why I became more interested in the -type- of value.

Paul | April 3, 2014 at 11:44 am

John – My physics is flawed to the extent that the law of conservation of matter is flawed, this I admit. I am much more economist than physicist though so better that I get my physics wrong and econ right! I see a lot of similarities between the two, as well as crucial differences, but I don't want to get too off topic.

Briana – "No Value is a bit extreme"

I agree, and as the absurdly hyperbolic title* of this article states, the author takes it to an even greater extreme – namely that the financial sector is actually a systematic destroyer of value (parasite) that is created by all of the other industries. The crux of his assertion rests on that they only "manage existing resources" and also calling Greg Mankiw an apologist, neither strikes me as an intellectually rigorous argument.

And interestingly, on his own firm's website, the author apparently contradicts the thesis of this article when advertising his financial services and the fees he charges for his own value add. I can think of several explanations for this, none of which are particularly flattering, others can draw their own conclusions.

*a worse parasite than all of the murderous dictatorial regimes in human history that have institutionalized the slaughter and torture of millions? Really? I note this because it is so obviously false that it makes the rest of the content seem unserious and shallow even if valid points exist. Acidic comments tend to preach to the already converted, but perhaps that is the goal here.

Briana | April 4, 2014 at 7:02 pm

Yeah, ok. I should know better, Paul. My brain tried to rationalize the argument by making it less extreme. The goal probably was to mobilize the choir to go Occupy Wall Street for a few more months, haha.

Those valid points shouldn't be ignored because of the poorly handled hyperbole, though. The financial sector does have a great capacity to act as a parasite by overvaluing their services and squandering wealth generated by other industries instead of reinvesting it in worthwhile, valuable enterprises; or using that wealth to essentially 'gamble' or invent money that is not attached to any real value (i.e. shorting or credit default swaps). As the fruits of these behaviors are becoming obvious, it gets harder to justify policies that allow them to happen.

Paul | April 9, 2014 at 10:51 am

In many ways that is my point. You found those "valid points" obviously correct before reading the article, so it rang true despite the extreme hyperbole. I did not find those points self-evidently true so this poorly constructed argument relying on clearly false assumptions struck me as uncompelling.

For example, how does one "overvalue their services"? If one charges too much, no one is forced to buy. I may find Ben's management fee of 1.25% to be overvaluing himself, but I have the option of not paying and instead going to less expensive alternatives.

Why wouldn't the financial industry invest in "worthwhile valuable enterprises" if they provide a worthwhile return? After all, aren't they driven by an insatiable desire for profit? Who determines what enterprises are worthwhile?

I do not see anything inherently wrong with short selling. Indeed, the ability to short a stock is simply expressing a view about its value, and leads to greater and more accurate price discovery. What is wrong with shorting a stock if one believes it is overpriced relative to its instrinsic value? Is it not preferable that prices reflect underlying economic fundamentals rather than being disconnected from such? Shorting puts downward pressure on prices, and helps prevent overvaluation.

Credit Default Swaps are nothing more than insurance against a bond default. There is nothing inherently wrong with insurance.

I'm not suggesting that you, here in the comments, need to write a paper elaborating on those, just that this article did a poor job of pursuading, though again, I am coming to the realization that I am likely not the intended audience.

This discussion in the comments has actually been more fruitful than the article itself.

(Sorry for the late response, I've been away for a few days.)

Briana | April 9, 2014 at 10:43 pm

Hi Paul,

"For example, how does one "overvalue their services"?"

This argument hinges on everyone that purchases these services knowing their true value. It's very simplistic to say that if someone purchases it, that is the real value. It gets complicated when you take into account the psychological pressures of purchasing behavior, such as "middle-price" preferences, "money you don't see is money you don't miss" and other tricks that are employed to get people to pay higher prices.

"Why wouldn't the financial industry invest in "worthwhile valuable enterprises" if they provide a worthwhile return? After all, aren't they driven by an insatiable desire for profit? Who determines what enterprises are worthwhile?"

Countless services and products we rely on were funded by taxes to make them profitable. They are "worthwhile" but apparently not "profitable" enough to invest in. Making money and creating value aren't the same thing. Ideally, everyone decides what is worthwhile.

"I do not see anything inherently wrong with short selling."

Shorting is basically a bucket shop in disguise.

"Credit Default Swaps are nothing more than insurance against a bond default. There is nothing inherently wrong with insurance."

There is when it's considered "money creation" http://www.usdebtclock.org/

"This discussion in the comments has actually been more fruitful than the article itself."

Agreed. And I could write a paper elaborating on this!

Paul | April 11, 2014 at 11:48 am

"This argument hinges on everyone that purchases these services knowing their true value."

In a literal sense, you are correct, it is an imperfect measure of value. However, I think it is far and away the most reliable one we have as value is extremely subjective. I don't think it is right or prudent for third, non cost bearing parties to preempt decisions made by consenting adults, rather, I would accord them the dignity of free choice. There are many things that consumers purchase that I do not understand, why anyone would pay a premium for a fast car seems like a waste of money to me, for example. Why anyone would pay money to golf, not to mention the huge cost in terms of time it takes to get through 18 holes, seems like a waste of money to me. These are things that make no sense to me because I do not see the value there. But, I recognize that people have various tastes and preferences, and I respect that and presume that individuals know themselves and their own tastes and preferences better than I (or someone else) does. Therefore, when someone values something that I do not understand, I tend to believe it is a result of a difference in preference, rather than they are too dumb to figure out what they like, or that they are "tricked" into buying something and hence need protection delivered by those who fancy themselves as enlightened enough to see the real truth. Nothing about this is unique to the financial industry, by the way.

"Countless services and products we rely on were funded by taxes to make them profitable. They are "worthwhile" but apparently not "profitable" enough to invest in. Making money and creating value aren't the same thing. Ideally, everyone decides what is worthwhile."

Apparently not enough people decided these services and products were worthwhile, so politicians decided they were worthwhile and used the force and power of government to get them done. Substituting preferences of politicians, spending other people's money for those of millions of individuals spending their own money does not seem like an efficient way to allocate resources.

Briana | April 11, 2014 at 7:50 pm

Paul –

I agree with you on purchasing decisions. People should be free to determine value. I'm not saying people are always dumb, but I do think they are manipulated. If you want to believe they are not, that is up to you, but apparently you've never seen advertising. The financial industry advertises itself heavily, especially in consumer credit markets and insurance. But if we're going to gauge something as nebulous as "true value", it requires a level of conscientiousness from everyone, and accepting whatever people purchase as reflecting it's actual value is a quick way to guarantee abuse, especially when you have something like consumer credit. If people are free to determine value, they should also be held to the consequences of their choices, which is currently not the case in the financial industry and increasingly in the general population.

"Apparently not enough people decided these services and products were worthwhile, so politicians decided they were worthwhile and used the force and power of government to get them done. Substituting preferences of politicians, spending other people's money for those of millions of individuals spending their own money does not seem like an efficient way to allocate resources."

You mean like electricity, phone services, railroads, airlines, fortified wheat, water treatment, the internet, satellites, healthcare.. the list could go on and on. It is less efficient (a word that really needs to be defined clearly, but I'll assume I know what you mean!), and it happens because otherwise it wouldn't be possible, and yet it becomes widely adopted and lauded none-the-less; progress, they say. Like I said, worthwhile and profitable are not 1-to-1 correlation, just as willingness to purchase doesn't necessarily indicate true value.

I thought you might have some interesting opinion on the CDS as money creation I'm still trying to figure that one out!

[Jan 08, 2019] No, wealth isn t created at the top. It is merely devoured there by Rutger Bregman

Highly recommended!
Financialization is a new type of racket...
Notable quotes:
"... Bankers, pharmaceutical giants, Google, Facebook ... a new breed of rentiers are at the very top of the pyramid and they're sucking the rest of us dry @rcbregman ..."
"... 'A big part of the modern banking sector is essentially a giant tapeworm gorging on a sick body' ..."
"... This piece is about one of the biggest taboos of our times. About a truth that is seldom acknowledged, and yet – on reflection – cannot be denied. The truth that we are living in an inverse welfare state. These days, politicians from the left to the right assume that most wealth is created at the top. By the visionaries, by the job creators, and by the people who have "made it". By the go-getters oozing talent and entrepreneurialism that are helping to advance the whole world. ..."
"... To understand why, we need to recognise that there are two ways of making money. The first is what most of us do: work. That means tapping into our knowledge and know-how (our "human capital" in economic terms) to create something new, whether that's a takeout app, a wedding cake, a stylish updo, or a perfectly poured pint. To work is to create. Ergo, to work is to create new wealth. ..."
"... But there is also a second way to make money. That's the rentier way : by leveraging control over something that already exists, such as land, knowledge, or money, to increase your wealth. You produce nothing, yet profit nonetheless. By definition, the rentier makes his living at others' expense, using his power to claim economic benefit. ..."
"... For those who know their history, the term "rentier" conjures associations with heirs to estates, such as the 19th century's large class of useless rentiers, well-described by the French economist Thomas Piketty . These days, that class is making a comeback. (Ironically, however, conservative politicians adamantly defend the rentier's right to lounge around, deeming inheritance tax to be the height of unfairness.) But there are also other ways of rent-seeking. From Wall Street to Silicon Valley , from big pharma to the lobby machines in Washington and Westminster, zoom in and you'll see rentiers everywhere. ..."
"... It may take quite a mental leap to see our economy as a system that shows solidarity with the rich rather than the poor. So I'll start with the clearest illustration of modern freeloaders at the top: bankers. Studies conducted by the International Monetary Fund and the Bank for International Settlements – not exactly leftist thinktanks – have revealed that much of the financial sector has become downright parasitic. How instead of creating wealth, they gobble it up whole. ..."
"... In other words, a big part of the modern banking sector is essentially a giant tapeworm gorging on a sick body. It's not creating anything new, merely sucking others dry. Bankers have found a hundred and one ways to accomplish this. The basic mechanism, however, is always the same: offer loans like it's going out of style, which in turn inflates the price of things like houses and shares, then earn a tidy percentage off those overblown prices (in the form of interest, commissions, brokerage fees, or what have you), and if the shit hits the fan, let Uncle Sam mop it up. ..."
"... Bankers are the most obvious class of closet freeloaders, but they are certainly not alone. Many a lawyer and an accountant wields a similar revenue model. Take tax evasion . Untold hardworking, academically degreed professionals make a good living at the expense of the populations of other countries. Or take the tide of privatisations over the past three decades, which have been all but a carte blanche for rentiers. One of the richest people in the world, Carlos Slim , earned his millions by obtaining a monopoly of the Mexican telecom market and then hiking prices sky high. The same goes for the Russian oligarchs who rose after the Berlin Wall fell , who bought up valuable state-owned assets for song to live off the rent. ..."
"... Even paragons of modern progress like Apple, Amazon, Google , Facebook, Uber and Airbnb are woven from the fabric of rentierism. Firstly, because they owe their existence to government discoveries and inventions (every sliver of fundamental technology in the iPhone, from the internet to batteries and from touchscreens to voice recognition, was invented by researchers on the government payroll). And second, because they tie themselves into knots to avoid paying taxes, retaining countless bankers, lawyers, and lobbyists for this very purpose. ..."
"... Even more important, many of these companies function as "natural monopolies", operating in a positive feedback loop of increasing growth and value as more and more people contribute free content to their platforms. Companies like this are incredibly difficult to compete with, because as they grow bigger, they only get stronger. ..."
"... Most of Mark Zuckerberg's income is just rent collected off the millions of picture and video posts that we give away daily for free. And sure, we have fun doing it. But we also have no alternative – after all, everybody is on Facebook these days. Zuckerberg has a website that advertisers are clamouring to get onto, and that doesn't come cheap. Don't be fooled by endearing pilots with free internet in Zambia. Stripped down to essentials, it's an ordinary ad agency. In fact, in 2015 Google and Facebook pocketed an astounding 64% of all online ad revenue in the US. ..."
"... Rentierism is, in essence, a question of power. That the Sun King Louis XIV was able to exploit millions was purely because he had the biggest army in Europe. It's no different for the modern rentier. He's got the law, politicians and journalists squarely in his court. That's why bankers get fined peanuts for preposterous fraud, while a mother on government assistance gets penalised within an inch of her life if she checks the wrong box. ..."
"... The biggest tragedy of all, however, is that the rentier economy is gobbling up society's best and brightest. Where once upon a time Ivy League graduates chose careers in science, public service or education, these days they are more likely to opt for banks, law firms, or trumped up ad agencies like Google and Facebook. When you think about it, it's insane. We are forking over billions in taxes to help our brightest minds on and up the corporate ladder so they can learn how to score ever more outrageous handouts. ..."
"... One thing is certain: countries where rentiers gain the upper hand gradually fall into decline. Just look at the Roman Empire. Or Venice in the 15th century. Look at the Dutch Republic in the 18th century. Like a parasite stunts a child's growth, so the rentier drains a country of its vitality. ..."
Mar 30, 2017 | www.theguardian.com

Rutger Bregman

Bankers, pharmaceutical giants, Google, Facebook ... a new breed of rentiers are at the very top of the pyramid and they're sucking the rest of us dry @rcbregman

Comments 890

'A big part of the modern banking sector is essentially a giant tapeworm gorging on a sick body'.

This piece is about one of the biggest taboos of our times. About a truth that is seldom acknowledged, and yet – on reflection – cannot be denied. The truth that we are living in an inverse welfare state. These days, politicians from the left to the right assume that most wealth is created at the top. By the visionaries, by the job creators, and by the people who have "made it". By the go-getters oozing talent and entrepreneurialism that are helping to advance the whole world.

Now, we may disagree about the extent to which success deserves to be rewarded – the philosophy of the left is that the strongest shoulders should bear the heaviest burden, while the right fears high taxes will blunt enterprise – but across the spectrum virtually all agree that wealth is created primarily at the top.

So entrenched is this assumption that it's even embedded in our language. When economists talk about "productivity", what they really mean is the size of your paycheck. And when we use terms like " welfare state ", "redistribution" and "solidarity", we're implicitly subscribing to the view that there are two strata: the makers and the takers, the producers and the couch potatoes, the hardworking citizens – and everybody else.

In reality, it is precisely the other way around. In reality, it is the waste collectors, the nurses, and the cleaners whose shoulders are supporting the apex of the pyramid. They are the true mechanism of social solidarity. Meanwhile, a growing share of those we hail as "successful" and "innovative" are earning their wealth at the expense of others. The people getting the biggest handouts are not down around the bottom, but at the very top. Yet their perilous dependence on others goes unseen. Almost no one talks about it. Even for politicians on the left, it's a non-issue.

To understand why, we need to recognise that there are two ways of making money. The first is what most of us do: work. That means tapping into our knowledge and know-how (our "human capital" in economic terms) to create something new, whether that's a takeout app, a wedding cake, a stylish updo, or a perfectly poured pint. To work is to create. Ergo, to work is to create new wealth.

But there is also a second way to make money. That's the rentier way : by leveraging control over something that already exists, such as land, knowledge, or money, to increase your wealth. You produce nothing, yet profit nonetheless. By definition, the rentier makes his living at others' expense, using his power to claim economic benefit.

'From Wall Street to Silicon Valley, zoom in and you'll see rentiers everywhere.'

For those who know their history, the term "rentier" conjures associations with heirs to estates, such as the 19th century's large class of useless rentiers, well-described by the French economist Thomas Piketty . These days, that class is making a comeback. (Ironically, however, conservative politicians adamantly defend the rentier's right to lounge around, deeming inheritance tax to be the height of unfairness.) But there are also other ways of rent-seeking. From Wall Street to Silicon Valley , from big pharma to the lobby machines in Washington and Westminster, zoom in and you'll see rentiers everywhere.

There is no longer a sharp dividing line between working and rentiering. In fact, the modern-day rentier often works damn hard. Countless people in the financial sector, for example, apply great ingenuity and effort to amass "rent" on their wealth. Even the big innovations of our age – businesses like Facebook and Uber – are interested mainly in expanding the rentier economy. The problem with most rich people therefore is not that they are coach potatoes. Many a CEO toils 80 hours a week to multiply his allowance. It's hardly surprising, then, that they feel wholly entitled to their wealth.

It may take quite a mental leap to see our economy as a system that shows solidarity with the rich rather than the poor. So I'll start with the clearest illustration of modern freeloaders at the top: bankers. Studies conducted by the International Monetary Fund and the Bank for International Settlements – not exactly leftist thinktanks – have revealed that much of the financial sector has become downright parasitic. How instead of creating wealth, they gobble it up whole.

Don't get me wrong. Banks can help to gauge risks and get money where it is needed, both of which are vital to a well-functioning economy. But consider this: economists tell us that the optimum level of total private-sector debt is 100% of GDP. Based on this equation, if the financial sector only grows, it won't equal more wealth, but less. So here's the bad news. In the United Kingdom, private-sector debt is now at 157.5% . In the United States, the figure is 188.8% .

In other words, a big part of the modern banking sector is essentially a giant tapeworm gorging on a sick body. It's not creating anything new, merely sucking others dry. Bankers have found a hundred and one ways to accomplish this. The basic mechanism, however, is always the same: offer loans like it's going out of style, which in turn inflates the price of things like houses and shares, then earn a tidy percentage off those overblown prices (in the form of interest, commissions, brokerage fees, or what have you), and if the shit hits the fan, let Uncle Sam mop it up.

The financial innovation concocted by all the math whizzes working in modern banking (instead of at universities or companies that contribute to real prosperity) basically boils down to maximizing the total amount of debt. And debt, of course, is a means of earning rent. So for those who believe that pay ought to be proportionate to the value of work, the conclusion we have to draw is that many bankers should be earning a negative salary; a fine, if you will, for destroying more wealth than they create.

Bankers are the most obvious class of closet freeloaders, but they are certainly not alone. Many a lawyer and an accountant wields a similar revenue model. Take tax evasion . Untold hardworking, academically degreed professionals make a good living at the expense of the populations of other countries. Or take the tide of privatisations over the past three decades, which have been all but a carte blanche for rentiers. One of the richest people in the world, Carlos Slim , earned his millions by obtaining a monopoly of the Mexican telecom market and then hiking prices sky high. The same goes for the Russian oligarchs who rose after the Berlin Wall fell , who bought up valuable state-owned assets for song to live off the rent.

But here comes the rub. Most rentiers are not as easily identified as the greedy banker or manager. Many are disguised. On the face of it, they look like industrious folks, because for part of the time they really are doing something worthwhile. Precisely that makes us overlook their massive rent-seeking.

Take the pharmaceutical industry. Companies like GlaxoSmithKline and Pfizer regularly unveil new drugs, yet most real medical breakthroughs are made quietly at government-subsidised labs. Private companies mostly manufacture medications that resemble what we've already got. They get it patented and, with a hefty dose of marketing, a legion of lawyers, and a strong lobby, can live off the profits for years. In other words, the vast revenues of the pharmaceutical industry are the result of a tiny pinch of innovation and fistfuls of rent.

Even paragons of modern progress like Apple, Amazon, Google , Facebook, Uber and Airbnb are woven from the fabric of rentierism. Firstly, because they owe their existence to government discoveries and inventions (every sliver of fundamental technology in the iPhone, from the internet to batteries and from touchscreens to voice recognition, was invented by researchers on the government payroll). And second, because they tie themselves into knots to avoid paying taxes, retaining countless bankers, lawyers, and lobbyists for this very purpose.

Even more important, many of these companies function as "natural monopolies", operating in a positive feedback loop of increasing growth and value as more and more people contribute free content to their platforms. Companies like this are incredibly difficult to compete with, because as they grow bigger, they only get stronger.

Aptly characterising this "platform capitalism" in an article, Tom Goodwin writes : "Uber, the world's largest taxi company, owns no vehicles. Facebook, the world's most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world's largest accommodation provider, owns no real estate."

Facebook Twitter Pinterest 'Every sliver of fundamental technology in the iPhone, from the internet to batteries and from touchscreens to voice recognition, was invented by researchers on the government payroll.' Photograph: Regis Duvignau/Reuters

So what do these companies own? A platform. A platform that lots and lots of people want to use. Why? First and foremost, because they're cool and they're fun – and in that respect, they do offer something of value. However, the main reason why we're all happy to hand over free content to Facebook is because all of our friends are on Facebook too, because their friends are on Facebook because their friends are on Facebook.

Most of Mark Zuckerberg's income is just rent collected off the millions of picture and video posts that we give away daily for free. And sure, we have fun doing it. But we also have no alternative – after all, everybody is on Facebook these days. Zuckerberg has a website that advertisers are clamouring to get onto, and that doesn't come cheap. Don't be fooled by endearing pilots with free internet in Zambia. Stripped down to essentials, it's an ordinary ad agency. In fact, in 2015 Google and Facebook pocketed an astounding 64% of all online ad revenue in the US.

But don't Google and Facebook make anything useful at all? Sure they do. The irony, however, is that their best innovations only make the rentier economy even bigger. They employ scores of programmers to create new algorithms so that we'll all click on more and more ads. Uber has usurped the whole taxi sector just as Airbnb has upended the hotel industry and Amazon has overrun the book trade. The bigger such platforms grow the more powerful they become, enabling the lords of these digital feudalities to demand more and more rent.

Think back a minute to the definition of a rentier: someone who uses their control over something that already exists in order to increase their own wealth. The feudal lord of medieval times did that by building a tollgate along a road and making everybody who passed by pay. Today's tech giants are doing basically the same thing, but transposed to the digital highway. Using technology funded by taxpayers, they build tollgates between you and other people's free content and all the while pay almost no tax on their earnings.

This is the so-called innovation that has Silicon Valley gurus in raptures: ever bigger platforms that claim ever bigger handouts. So why do we accept this? Why does most of the population work itself to the bone to support these rentiers?

I think there are two answers. Firstly, the modern rentier knows to keep a low profile. There was a time when everybody knew who was freeloading. The king, the church, and the aristocrats controlled almost all the land and made peasants pay dearly to farm it. But in the modern economy, making rentierism work is a great deal more complicated. How many people can explain a credit default swap , or a collateralised debt obligation ? Or the revenue model behind those cute Google Doodles? And don't the folks on Wall Street and in Silicon Valley work themselves to the bone, too? Well then, they must be doing something useful, right?

Maybe not. The typical workday of Goldman Sachs' CEO may be worlds away from that of King Louis XIV, but their revenue models both essentially revolve around obtaining the biggest possible handouts. "The world's most powerful investment bank," wrote the journalist Matt Taibbi about Goldman Sachs , "is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

But far from squids and vampires, the average rich freeloader manages to masquerade quite successfully as a decent hard worker. He goes to great lengths to present himself as a "job creator" and an "investor" who "earns" his income by virtue of his high "productivity". Most economists, journalists, and politicians from left to right are quite happy to swallow this story. Time and again language is twisted around to cloak funneling and exploitation as creation and generation.

However, it would be wrong to think that all this is part of some ingenious conspiracy. Many modern rentiers have convinced even themselves that they are bona fide value creators. When current Goldman Sachs CEO Lloyd Blankfein was asked about the purpose of his job, his straight-faced answer was that he is " doing God's work ". The Sun King would have approved.

The second thing that keeps rentiers safe is even more insidious. We're all wannabe rentiers. They have made millions of people complicit in their revenue model. Consider this: What are our financial sector's two biggest cash cows? Answer: the housing market and pensions. Both are markets in which many of us are deeply invested.

Recent decades have seen more and more people contract debts to buy a home, and naturally it's in their interest if house prices continue to scale new heights (read: burst bubble upon bubble). The same goes for pensions. Over the past few decades we've all scrimped and saved up a mountainous pension piggy bank. Now pension funds are under immense pressure to ally with the biggest exploiters in order to ensure they pay out enough to please their investors.

The fact of the matter is that feudalism has been democratised. To a lesser or greater extent, we are all depending on handouts. En masse, we have been made complicit in this exploitation by the rentier elite, resulting in a political covenant between the rich rent-seekers and the homeowners and retirees.

Don't get me wrong, most homeowners and retirees are not benefiting from this situation. On the contrary, the banks are bleeding them far beyond the extent to which they themselves profit from their houses and pensions. Still, it's hard to point fingers at a kleptomaniac when you have sticky fingers too.

So why is this happening? The answer can be summed up in three little words: Because it can.

Rentierism is, in essence, a question of power. That the Sun King Louis XIV was able to exploit millions was purely because he had the biggest army in Europe. It's no different for the modern rentier. He's got the law, politicians and journalists squarely in his court. That's why bankers get fined peanuts for preposterous fraud, while a mother on government assistance gets penalised within an inch of her life if she checks the wrong box.

The biggest tragedy of all, however, is that the rentier economy is gobbling up society's best and brightest. Where once upon a time Ivy League graduates chose careers in science, public service or education, these days they are more likely to opt for banks, law firms, or trumped up ad agencies like Google and Facebook. When you think about it, it's insane. We are forking over billions in taxes to help our brightest minds on and up the corporate ladder so they can learn how to score ever more outrageous handouts.

One thing is certain: countries where rentiers gain the upper hand gradually fall into decline. Just look at the Roman Empire. Or Venice in the 15th century. Look at the Dutch Republic in the 18th century. Like a parasite stunts a child's growth, so the rentier drains a country of its vitality.

What innovation remains in a rentier economy is mostly just concerned with further bolstering that very same economy. This may explain why the big dreams of the 1970s, like flying cars, curing cancer, and colonising Mars, have yet to be realised, while bankers and ad-makers have at their fingertips technologies a thousand times more powerful.

Yet it doesn't have to be this way. Tollgates can be torn down, financial products can be banned, tax havens dismantled, lobbies tamed, and patents rejected. Higher taxes on the ultra-rich can make rentierism less attractive, precisely because society's biggest freeloaders are at the very top of the pyramid. And we can more fairly distribute our earnings on land, oil, and innovation through a system of, say, employee shares, or a universal basic income .

But such a revolution will require a wholly different narrative about the origins of our wealth. It will require ditching the old-fashioned faith in "solidarity" with a miserable underclass that deserves to be borne aloft on the market-level salaried shoulders of society's strongest. All we need to do is to give real hard-working people what they deserve.

And, yes, by that I mean the waste collectors, the nurses, the cleaners – theirs are the shoulders that carry us all.

• Pre-order Utopia for Realists and How Can We Get There by Rutger Bregman

• Translated from the original Dutch by Elizabeth Manton

See also:

[Jan 03, 2019] The parable of casino capitalism, or neoliberal finance innovative method of weighting the ox via wisdom of the crowd

Jan 03, 2019 | www.amazon.com

In 1906 the great statistician Francis Galton observed a competition to guess the weight of an ox at a country fair. Eight hundred people entered. Galton, being the kind of man he was, ran statistical tests on the numbers. He discovered that the average guess was extremely close to the weight of the ox. This story was told by James Surowiecki, in his entertaining book The Wisdom of Crowds. 2

Not many people know the events that followed. A few years later, the scales seemed to become less and less reliable. Repairs would be expensive, but the fair organiser had a brilliant idea. Since attendees were so good at guessing the weight of an ox, it was unnecessary' to repair the scales. The organiser would simply ask everyone to guess the weight, and take the average of their estimates.

A new problem emerged, however. Once weight-guessing competitions became the rage, some participants tried to cheat. They even tried to get privileged information from the farmer who had bred the ox. But there was fear that, if some people had an edge, others would be reluctant to enter the weight-guessing competition. With few entrants, you could not rely on the wisdom of crowds. The process of weight discovery would be damaged.

So strict regulatory rules were introduced. The farmer was asked to prepare three monthly bulletins on the development of his ox. These bulletins were posted on the door of the market for everyone to read. If the farmer gave his friends any other information about the beast, that information was also to be posted on the market door. And anyone who entered the competition who had knowledge about the ox that was not available to the world at large would be expelled from the market. In this way the integrity of the weight-guessing process would be maintained.

Professional analysts scrutinised the contents of these regulatory' announcements and advised their clients on their implications. They' wined and dined farmers; but once the farmers were required to be careful about the information they' disclosed, these lunches became less useful. Some smarter analysts realised that understanding the nutrition and health of the ox wasn't that useful anyway. Since the ox was no longer being weighed -- what mattered was the guesses of the bystanders -- the key' to success lav not in correctly assessing the weight of the ox but in correctly' assessing what others would guess. Or what other people would guess others would guess. And so on.

Some people -- such as old Farmer Buffett -- claimed that the results of this process were more and more divorced from the realities of ox rearing. But he was ignored. True, Farmer Buffett's beasts did appear healthy and well fed, and his finances ever more prosperous; but he was a countryman who didn't really understand how markets work.

International bodies were established to define the rules for assessing the weight of the ox. There were two competing standards -- generally accepted ox-weighing principles, and international ox-weighing standards. But both agreed on one fundamental principle, which followed from the need to eliminate the role of subjective assessment by any individual. The weight of the ox was officially defined as the average of everyone's guesses.

One difficulty was that sometimes there were few, or even no, guesses of the weight of the ox. But that problem was soon overcome. Mathematicians from the University of Chicago developed models from which it was possible to estimate what, if there had actually been many guesses as to the weight of the ox, the average of these guesses would have been. No knowledge of animal husbandry was required, only a powerful computer.

By' this time, there was a large industry of professional weight-guessers, organisers of weight-guessing competitions and advisers helping people to refine their guesses. Some people suggested that it might be cheaper to repair the scales, but they' were derided: why go back to relying on the judgement of a single auctioneer when you could benefit from the aggregated wisdom of so many clever people?

And then the ox died. Amid all this activity', no one had remembered to feed it.

[Jan 02, 2019] Jeff Bezos Tables Latest Breakthrough Cost-Cutting Idea After Realizing It's Just Slaves

Jan 02, 2019 | www.theonion.com

SEATTLE -- Deciding at the last minute to hold off due to ethical concerns, Amazon founder and CEO Jeff Bezos reportedly set aside his latest cost-cutting initiative Wednesday after realizing it was actually human slavery. "On the surface, it seemed plausible -- owning our employees' bodies, implementing a mandatory 18-hour workday, restricting their movements, and not compensating them with anything besides minimal food and shelter -- but then it started to sound really familiar in a bad way," said Bezos, who acknowledged his fears were confirmed when Amazon's general counsel kept reporting back that such labor arrangements had been illegal throughout the United States since 1865. "It's too bad; the increased efficiency and cost savings would have been tremendous. And now I have to go explain to our shareholders why I spent $1.8 million outfitting all of our managers with bullwhips, shackles, and branding irons." Bezos went on to describe the setback as temporary, saying it wouldn't matter in five to 10 years when his entire workforce was robots.

[Jan 02, 2019] American People Admit Having Facebook Data Stolen Kind Of Worth It To Watch That Little Fucker Squirm

Jan 02, 2019 | www.theonion.com

CHICAGO -- Saying it was ultimately a small price to pay in exchange for the splendid spectacle that has followed, millions of Americans admitted Thursday that they didn't really mind having their Facebook data stolen if it meant getting to watch that little fucker squirm.

[Dec 30, 2018] The essence of neoliberalism by Pierre Bourdieu

Highly recommended!
Notable quotes:
"... What is neoliberalism? A programme for destroying collective structures which may impede the pure market logic. ..."
"... The movement toward the neoliberal utopia of a pure and perfect market is made possible by the politics of financial deregulation. And it is achieved through the transformative and, it must be said, destructive action of all of the political measures (of which the most recent is the Multilateral Agreement on Investment (MAI), designed to protect foreign corporations and their investments from national states) that aim to call into question any and all collective structures that could serve as an obstacle to the logic of the pure market: the nation, whose space to manoeuvre continually decreases; work groups, for example through the individualisation of salaries and of careers as a function of individual competences, with the consequent atomisation of workers; collectives for the defence of the rights of workers, unions, associations, cooperatives; even the family, which loses part of its control over consumption through the constitution of markets by age groups. ..."
"... The neoliberal programme draws its social power from the political and economic power of those whose interests it expresses: stockholders, financial operators, industrialists, conservative or social-democratic politicians who have been converted to the reassuring layoffs of laisser-faire, high-level financial officials eager to impose policies advocating their own extinction because, unlike the managers of firms, they run no risk of having eventually to pay the consequences. Neoliberalism tends on the whole to favour severing the economy from social realities and thereby constructing, in reality, an economic system conforming to its description in pure theory, that is a sort of logical machine that presents itself as a chain of constraints regulating economic agents. ..."
"... This structural violence also weighs on what is called the labour contract (wisely rationalised and rendered unreal by the "theory of contracts"). Organisational discourse has never talked as much of trust, co-operation, loyalty, and organisational culture as in an era when adherence to the organisation is obtained at each moment by eliminating all temporal guarantees of employment (three-quarters of hires are for fixed duration, the proportion of temporary employees keeps rising, employment "at will" and the right to fire an individual tend to be freed from any restriction). ..."
"... How could we not make a special place among these collectives, associations, unions, and parties for the state: the nation-state, or better yet the supranational state - a European state on the way toward a world state - capable of effectively controlling and taxing the profits earned in the financial markets and, above of all, of counteracting the destructive impact that the latter have on the labour market. This could be done with the aid of labour unions by organising the elaboration and defence of the public interest . Like it or not, the public interest will never emerge, even at the cost of a few mathematical errors, from the vision of accountants (in an earlier period one would have said of "shopkeepers") that the new belief system presents as the supreme form of human accomplishment. ..."
Dec 30, 1998 | mondediplo.com

Utopia of endless exploitation

The essence of neoliberalism

What is neoliberalism? A programme for destroying collective structures which may impede the pure market logic.

As the dominant discourse would have it, the economic world is a pure and perfect order, implacably unrolling the logic of its predictable consequences, and prompt to repress all violations by the sanctions that it inflicts, either automatically or -- more unusually -- through the intermediary of its armed extensions, the International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD) and the policies they impose: reducing labour costs, reducing public expenditures and making work more flexible. Is the dominant discourse right? What if, in reality, this economic order were no more than the implementation of a utopia - the utopia of neoliberalism - thus converted into a political problem ? One that, with the aid of the economic theory that it proclaims, succeeds in conceiving of itself as the scientific description of reality?

This tutelary theory is a pure mathematical fiction. From the start it has been founded on a formidable abstraction. For, in the name of a narrow and strict conception of rationality as individual rationality, it brackets the economic and social conditions of rational orientations and the economic and social structures that are the condition of their application.

To give the measure of this omission, it is enough to think just of the educational system. Education is never taken account of as such at a time when it plays a determining role in the production of goods and services as in the production of the producers themselves. From this sort of original sin, inscribed in the Walrasian myth ( 1 ) of "pure theory", flow all of the deficiencies and faults of the discipline of economics and the fatal obstinacy with which it attaches itself to the arbitrary opposition which it induces, through its mere existence, between a properly economic logic, based on competition and efficiency, and social logic, which is subject to the rule of fairness.

That said, this "theory" that is desocialised and dehistoricised at its roots has, today more than ever, the means of making itself true and empirically verifiable. In effect, neoliberal discourse is not just one discourse among many. Rather, it is a "strong discourse" - the way psychiatric discourse is in an asylum, in Erving Goffman's analysis ( 2 ) . It is so strong and so hard to combat only because it has on its side all of the forces of a world of relations of forces, a world that it contributes to making what it is. It does this most notably by orienting the economic choices of those who dominate economic relationships. It thus adds its own symbolic force to these relations of forces. In the name of this scientific programme, converted into a plan of political action, an immense political project is underway, although its status as such is denied because it appears to be purely negative. This project aims to create the conditions under which the "theory" can be realised and can function: a programme of the methodical destruction of collectives .

The movement toward the neoliberal utopia of a pure and perfect market is made possible by the politics of financial deregulation. And it is achieved through the transformative and, it must be said, destructive action of all of the political measures (of which the most recent is the Multilateral Agreement on Investment (MAI), designed to protect foreign corporations and their investments from national states) that aim to call into question any and all collective structures that could serve as an obstacle to the logic of the pure market: the nation, whose space to manoeuvre continually decreases; work groups, for example through the individualisation of salaries and of careers as a function of individual competences, with the consequent atomisation of workers; collectives for the defence of the rights of workers, unions, associations, cooperatives; even the family, which loses part of its control over consumption through the constitution of markets by age groups.

The neoliberal programme draws its social power from the political and economic power of those whose interests it expresses: stockholders, financial operators, industrialists, conservative or social-democratic politicians who have been converted to the reassuring layoffs of laisser-faire, high-level financial officials eager to impose policies advocating their own extinction because, unlike the managers of firms, they run no risk of having eventually to pay the consequences. Neoliberalism tends on the whole to favour severing the economy from social realities and thereby constructing, in reality, an economic system conforming to its description in pure theory, that is a sort of logical machine that presents itself as a chain of constraints regulating economic agents.

The globalisation of financial markets, when joined with the progress of information technology, ensures an unprecedented mobility of capital. It gives investors concerned with the short-term profitability of their investments the possibility of permanently comparing the profitability of the largest corporations and, in consequence, penalising these firms' relative setbacks. Subjected to this permanent threat, the corporations themselves have to adjust more and more rapidly to the exigencies of the markets, under penalty of "losing the market's confidence", as they say, as well as the support of their stockholders. The latter, anxious to obtain short-term profits, are more and more able to impose their will on managers, using financial directorates to establish the rules under which managers operate and to shape their policies regarding hiring, employment, and wages.

Thus the absolute reign of flexibility is established, with employees being hiring on fixed-term contracts or on a temporary basis and repeated corporate restructurings and, within the firm itself, competition among autonomous divisions as well as among teams forced to perform multiple functions. Finally, this competition is extended to individuals themselves, through the individualisation of the wage relationship: establishment of individual performance objectives, individual performance evaluations, permanent evaluation, individual salary increases or granting of bonuses as a function of competence and of individual merit; individualised career paths; strategies of "delegating responsibility" tending to ensure the self-exploitation of staff who, simple wage labourers in relations of strong hierarchical dependence, are at the same time held responsible for their sales, their products, their branch, their store, etc. as though they were independent contractors. This pressure toward "self-control" extends workers' "involvement" according to the techniques of "participative management" considerably beyond management level. All of these are techniques of rational domination that impose over-involvement in work (and not only among management) and work under emergency or high-stress conditions. And they converge to weaken or abolish collective standards or solidarities ( 3 ) .

In this way, a Darwinian world emerges - it is the struggle of all against all at all levels of the hierarchy, which finds support through everyone clinging to their job and organisation under conditions of insecurity, suffering, and stress. Without a doubt, the practical establishment of this world of struggle would not succeed so completely without the complicity of all of the precarious arrangements that produce insecurity and of the existence of a reserve army of employees rendered docile by these social processes that make their situations precarious, as well as by the permanent threat of unemployment. This reserve army exists at all levels of the hierarchy, even at the higher levels, especially among managers. The ultimate foundation of this entire economic order placed under the sign of freedom is in effect the structural violence of unemployment, of the insecurity of job tenure and the menace of layoff that it implies. The condition of the "harmonious" functioning of the individualist micro-economic model is a mass phenomenon, the existence of a reserve army of the unemployed.

This structural violence also weighs on what is called the labour contract (wisely rationalised and rendered unreal by the "theory of contracts"). Organisational discourse has never talked as much of trust, co-operation, loyalty, and organisational culture as in an era when adherence to the organisation is obtained at each moment by eliminating all temporal guarantees of employment (three-quarters of hires are for fixed duration, the proportion of temporary employees keeps rising, employment "at will" and the right to fire an individual tend to be freed from any restriction).

Thus we see how the neoliberal utopia tends to embody itself in the reality of a kind of infernal machine, whose necessity imposes itself even upon the rulers. Like the Marxism of an earlier time, with which, in this regard, it has much in common, this utopia evokes powerful belief - the free trade faith - not only among those who live off it, such as financiers, the owners and managers of large corporations, etc., but also among those, such as high-level government officials and politicians, who derive their justification for existing from it. For they sanctify the power of markets in the name of economic efficiency, which requires the elimination of administrative or political barriers capable of inconveniencing the owners of capital in their individual quest for the maximisation of individual profit, which has been turned into a model of rationality. They want independent central banks. And they preach the subordination of nation-states to the requirements of economic freedom for the masters of the economy, with the suppression of any regulation of any market, beginning with the labour market, the prohibition of deficits and inflation, the general privatisation of public services, and the reduction of public and social expenses.

Economists may not necessarily share the economic and social interests of the true believers and may have a variety of individual psychic states regarding the economic and social effects of the utopia which they cloak with mathematical reason. Nevertheless, they have enough specific interests in the field of economic science to contribute decisively to the production and reproduction of belief in the neoliberal utopia. Separated from the realities of the economic and social world by their existence and above all by their intellectual formation, which is most frequently purely abstract, bookish, and theoretical, they are particularly inclined to confuse the things of logic with the logic of things.

These economists trust models that they almost never have occasion to submit to the test of experimental verification and are led to look down upon the results of the other historical sciences, in which they do not recognise the purity and crystalline transparency of their mathematical games, whose true necessity and profound complexity they are often incapable of understanding. They participate and collaborate in a formidable economic and social change. Even if some of its consequences horrify them (they can join the socialist party and give learned counsel to its representatives in the power structure), it cannot displease them because, at the risk of a few failures, imputable to what they sometimes call "speculative bubbles", it tends to give reality to the ultra-logical utopia (ultra-logical like certain forms of insanity) to which they consecrate their lives.

And yet the world is there, with the immediately visible effects of the implementation of the great neoliberal utopia: not only the poverty of an increasingly large segment of the most economically advanced societies, the extraordinary growth in income differences, the progressive disappearance of autonomous universes of cultural production, such as film, publishing, etc. through the intrusive imposition of commercial values, but also and above all two major trends. First is the destruction of all the collective institutions capable of counteracting the effects of the infernal machine, primarily those of the state, repository of all of the universal values associated with the idea of the public realm . Second is the imposition everywhere, in the upper spheres of the economy and the state as at the heart of corporations, of that sort of moral Darwinism that, with the cult of the winner, schooled in higher mathematics and bungee jumping, institutes the struggle of all against all and cynicism as the norm of all action and behaviour.

Can it be expected that the extraordinary mass of suffering produced by this sort of political-economic regime will one day serve as the starting point of a movement capable of stopping the race to the abyss? Indeed, we are faced here with an extraordinary paradox. The obstacles encountered on the way to realising the new order of the lone, but free individual are held today to be imputable to rigidities and vestiges. All direct and conscious intervention of whatever kind, at least when it comes from the state, is discredited in advance and thus condemned to efface itself for the benefit of a pure and anonymous mechanism, the market, whose nature as a site where interests are exercised is forgotten. But in reality, what keeps the social order from dissolving into chaos, despite the growing volume of the endangered population, is the continuity or survival of those very institutions and representatives of the old order that is in the process of being dismantled, and all the work of all of the categories of social workers, as well as all the forms of social solidarity, familial or otherwise.

The transition to "liberalism" takes place in an imperceptible manner, like continental drift, thus hiding its effects from view. Its most terrible consequences are those of the long term. These effects themselves are concealed, paradoxically, by the resistance to which this transition is currently giving rise among those who defend the old order by drawing on the resources it contained, on old solidarities, on reserves of social capital that protect an entire portion of the present social order from falling into anomie. This social capital is fated to wither away - although not in the short run - if it is not renewed and reproduced.

But these same forces of "conservation", which it is too easy to treat as conservative, are also, from another point of view, forces of resistance to the establishment of the new order and can become subversive forces. If there is still cause for some hope, it is that forces still exist, both in state institutions and in the orientations of social actors (notably individuals and groups most attached to these institutions, those with a tradition of civil and public service) that, under the appearance of simply defending an order that has disappeared and its corresponding "privileges" (which is what they will immediately be accused of), will be able to resist the challenge only by working to invent and construct a new social order. One that will not have as its only law the pursuit of egoistic interests and the individual passion for profit and that will make room for collectives oriented toward the rational pursuit of ends collectively arrived at and collectively ratified .

How could we not make a special place among these collectives, associations, unions, and parties for the state: the nation-state, or better yet the supranational state - a European state on the way toward a world state - capable of effectively controlling and taxing the profits earned in the financial markets and, above of all, of counteracting the destructive impact that the latter have on the labour market. This could be done with the aid of labour unions by organising the elaboration and defence of the public interest . Like it or not, the public interest will never emerge, even at the cost of a few mathematical errors, from the vision of accountants (in an earlier period one would have said of "shopkeepers") that the new belief system presents as the supreme form of human accomplishment.

Pierre Bourdieu. Professor at the Collège de France Translated by Jeremy J. Shapiro

( 1 ) Auguste Walras (1800-66), French economist, author of De la nature de la richesse et de l'origine de la valeur ("On the Nature of Wealth and on the Origin of Value")(1848). He was one of the first to attempt to apply mathematics to economic inquiry.

( 2 ) Erving Goffman. 1961. Asylums: Essays on the Social Situation of Mental Patients and Other Inmates . New York: Aldine de Gruyter.

( 3 ) See the two journal issues devoted to "Nouvelles formes de domination dans le travail" ("New forms of domination in work"), Actes de la recherche en sciences sociales , nos. 114, September 1996, and 115, December 1996, especially the introduction by Gabrielle Balazs and Michel Pialoux, "Crise du travail et crise du politique" & Work crisis and political crisis, no. 114: p.3-4.

[Dec 27, 2018] 'Trickle down effect' and pub test

Dec 27, 2018 | discussion.theguardian.com

Phoroneus57 , 3 Jun 2018 23:03

'Trickle down effect' - the favourite buzzword of neoliberal supporters. I'd like to see trickle down effect tried at the local pub on the taps by the local mp. Imagine what would happen. Definitely doesn't pass the pub test.

[Dec 26, 2018] You might say that neoliberalism borrows from economics only in the sense that astrology borrows from astronomy.

Dec 26, 2018 | mainlymacro.blogspot.com

phayes , 23 January 2014 at 03:51

That'd be like astronomers saying that although Hellenic astrology is pseudoscientific nonsense they can probably do business with Ptolemaic or Hindu astrology. Other scientists would laugh and call astronomy the dismal physics. Isn't it about time economists like yourself just told the knuckle dragging ideologues - of whatever colour and salinity - to fuck off?

Anonymous , 23 January 2014 at 04:12

Who is an economist who is not an ideologue?

[Dec 16, 2018] Neoliberalism has had its day. So what happens next (The death of neoliberalism and the crisis in western politics) by Martin Jacques

Highly recommended!
It is very interesting and educational to read this pre-election article two years later and see where the author is right and where he is wrong. The death of neoliberalism was greatly exaggerated. It simply mutated in the USA into "national neoliberalism" under Trump. As no clear alternative exists it remain the dominant ideology and universities still brainwash students with neoclassical economics. And in way catchy slogan "Make America great again" under Trump means "Make American working and lower middle class great again"
It is also clear that Trump betrayed or was forced to betray most of his election promises. Standrd of living of common americans did not improve under his watch. most of hi benefits of his tax cuts went to large corporations and financial oligarch. He continued the policy of financial deregulation, which is tantamount of playing with open fire trying to warm up the house
What we see under Trump is tremendous growth of political role of intelligence agencies which now are real kingmakers and can sink any candidate which does not support their agenda. And USA intelligence agencies operated in 2016 in close cooperation with the UK intelligence agencies to the extent that it is not clear who has the lead in creating Steele dossier. They are definitely out of control of executive branch and play their own game. We also see a rise of CIA democrats as a desperate attempt to preserve the power of Clinton wing of the Democratic Party ('soft neoliberals" turned under Hillary into into warmongers and neocons) . Hillary and Bill themselves clearly belong to CIA democrats too, not only to Wall Street democrats, despite the fact that they sold Democratic Party to Wall Street in the past. New Labor in UK did the same.
But if it is more or less clear now what happened in the USa in 2016-2018, it is completely unclear what will happen next. I think in no way neoliberalism will start to be dismantled. there is no social forces powerful enough to start this job, We probably need another financial crisi of the scale of 2008 for this work to be reluctantly started by ruling elite. And we better not to have this repetition of 2008 as it will be really devastating for common people.
Notable quotes:
"... the causes of this political crisis, glaringly evident on both sides of the Atlantic, are much deeper than simply the financial crisis and the virtually stillborn recovery of the last decade. They go to the heart of the neoliberal project that dates from the late 70s and the political rise of Reagan and Thatcher, and embraced at its core the idea of a global free market in goods, services and capital. The depression-era system of bank regulation was dismantled, in the US in the 1990s and in Britain in 1986, thereby creating the conditions for the 2008 crisis. Equality was scorned, the idea of trickle-down economics lauded, government condemned as a fetter on the market and duly downsized, immigration encouraged, regulation cut to a minimum, taxes reduced and a blind eye turned to corporate evasion. ..."
"... It should be noted that, by historical standards, the neoliberal era has not had a particularly good track record. The most dynamic period of postwar western growth was that between the end of the war and the early 70s, the era of welfare capitalism and Keynesianism, when the growth rate was double that of the neoliberal period from 1980 to the present. ..."
"... In the period 1948-1972, every section of the American population experienced very similar and sizable increases in their standard of living; between 1972-2013, the bottom 10% experienced falling real income while the top 10% did far better than everyone else. In the US, the median real income for full-time male workers is now lower than it was four decades ago: the income of the bottom 90% of the population has stagnated for over 30 years . ..."
"... On average, between 65-70% of households in 25 high-income economies experienced stagnant or falling real incomes between 2005 and 2014. ..."
"... As Thomas Piketty has shown, in the absence of countervailing pressures, capitalism naturally gravitates towards increasing inequality. In the period between 1945 and the late 70s, Cold War competition was arguably the biggest such constraint. Since the collapse of the Soviet Union, there have been none. As the popular backlash grows increasingly irresistible, however, such a winner-takes-all regime becomes politically unsustainable. ..."
"... Foreign Affairs ..."
"... "'Populism' is the label that political elites attach to policies supported by ordinary citizens that they don't like." Populism is a movement against the status quo. It represents the beginnings of something new, though it is generally much clearer about what it is against than what it is for. It can be progressive or reactionary, but more usually both. ..."
"... According to a Gallup poll, in 2000 only 33% of Americans called themselves working class; by 2015 the figure was 48%, almost half the population. ..."
"... The re-emergence of the working class as a political voice in Britain, most notably in the Brexit vote, can best be described as an inchoate expression of resentment and protest, with only a very weak sense of belonging to the labour movement. ..."
"... Economists such as Larry Summers believe that the prospect for the future is most likely one of secular stagnation . ..."
"... those who have lost out in the neoliberal era are no longer prepared to acquiesce in their fate – they are increasingly in open revolt. We are witnessing the end of the neoliberal era. It is not dead, but it is in its early death throes, just as the social-democratic era was during the 1970s. ..."
"... Capital in the Twenty-First Century ..."
"... Financial Times ..."
Aug 21, 2016 | www.theguardian.com

In the early 1980s the author was one of the first to herald the emerging dominance of neoliberalism in the west. Here he argues that this doctrine is now faltering. But what happens next?

The western financial crisis of 2007-8 was the worst since 1931, yet its immediate repercussions were surprisingly modest. The crisis challenged the foundation stones of the long-dominant neoliberal ideology but it seemed to emerge largely unscathed. The banks were bailed out; hardly any bankers on either side of the Atlantic were prosecuted for their crimes; and the price of their behaviour was duly paid by the taxpayer. Subsequent economic policy, especially in the Anglo-Saxon world, has relied overwhelmingly on monetary policy, especially quantitative easing. It has failed. The western economy has stagnated and is now approaching its lost decade, with no end in sight.

After almost nine years, we are finally beginning to reap the political whirlwind of the financial crisis. But how did neoliberalism manage to survive virtually unscathed for so long? Although it failed the test of the real world, bequeathing the worst economic disaster for seven decades, politically and intellectually it remained the only show in town. Parties of the right, centre and left had all bought into its philosophy, New Labour a classic in point. They knew no other way of thinking or doing: it had become the common sense. It was, as Antonio Gramsci put it, hegemonic. But that hegemony cannot and will not survive the test of the real world.

The first inkling of the wider political consequences was evident in the turn in public opinion against the banks, bankers and business leaders. For decades, they could do no wrong: they were feted as the role models of our age, the default troubleshooters of choice in education, health and seemingly everything else. Now, though, their star was in steep descent, along with that of the political class. The effect of the financial crisis was to undermine faith and trust in the competence of the governing elites. It marked the beginnings of a wider political crisis.

But the causes of this political crisis, glaringly evident on both sides of the Atlantic, are much deeper than simply the financial crisis and the virtually stillborn recovery of the last decade. They go to the heart of the neoliberal project that dates from the late 70s and the political rise of Reagan and Thatcher, and embraced at its core the idea of a global free market in goods, services and capital. The depression-era system of bank regulation was dismantled, in the US in the 1990s and in Britain in 1986, thereby creating the conditions for the 2008 crisis. Equality was scorned, the idea of trickle-down economics lauded, government condemned as a fetter on the market and duly downsized, immigration encouraged, regulation cut to a minimum, taxes reduced and a blind eye turned to corporate evasion.

It should be noted that, by historical standards, the neoliberal era has not had a particularly good track record. The most dynamic period of postwar western growth was that between the end of the war and the early 70s, the era of welfare capitalism and Keynesianism, when the growth rate was double that of the neoliberal period from 1980 to the present.

But by far the most disastrous feature of the neoliberal period has been the huge growth in inequality. Until very recently, this had been virtually ignored. With extraordinary speed, however, it has emerged as one of, if not the most important political issue on both sides of the Atlantic, most dramatically in the US. It is, bar none, the issue that is driving the political discontent that is now engulfing the west. Given the statistical evidence, it is puzzling, shocking even, that it has been disregarded for so long; the explanation can only lie in the sheer extent of the hegemony of neoliberalism and its values.

But now reality has upset the doctrinal apple cart. In the period 1948-1972, every section of the American population experienced very similar and sizable increases in their standard of living; between 1972-2013, the bottom 10% experienced falling real income while the top 10% did far better than everyone else. In the US, the median real income for full-time male workers is now lower than it was four decades ago: the income of the bottom 90% of the population has stagnated for over 30 years .

A not so dissimilar picture is true of the UK. And the problem has grown more serious since the financial crisis. On average, between 65-70% of households in 25 high-income economies experienced stagnant or falling real incomes between 2005 and 2014.

Large sections of the population in both the US and the UK are now in revolt against their lot

The reasons are not difficult to explain. The hyper-globalisation era has been systematically stacked in favour of capital against labour: international trading agreements, drawn up in great secrecy, with business on the inside and the unions and citizens excluded, the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) being but the latest examples; the politico-legal attack on the unions; the encouragement of large-scale immigration in both the US and Europe that helped to undermine the bargaining power of the domestic workforce; and the failure to retrain displaced workers in any meaningful way.

As Thomas Piketty has shown, in the absence of countervailing pressures, capitalism naturally gravitates towards increasing inequality. In the period between 1945 and the late 70s, Cold War competition was arguably the biggest such constraint. Since the collapse of the Soviet Union, there have been none. As the popular backlash grows increasingly irresistible, however, such a winner-takes-all regime becomes politically unsustainable.

Large sections of the population in both the US and the UK are now in revolt against their lot, as graphically illustrated by the support for Trump and Sanders in the US and the Brexit vote in the UK. This popular revolt is often described, in a somewhat denigratory and dismissive fashion, as populism. Or, as Francis Fukuyama writes in a recent excellent essay in Foreign Affairs : "'Populism' is the label that political elites attach to policies supported by ordinary citizens that they don't like." Populism is a movement against the status quo. It represents the beginnings of something new, though it is generally much clearer about what it is against than what it is for. It can be progressive or reactionary, but more usually both.

Brexit is a classic example of such populism. It has overturned a fundamental cornerstone of UK policy since the early 1970s. Though ostensibly about Europe, it was in fact about much more: a cri de coeur from those who feel they have lost out and been left behind, whose living standards have stagnated or worse since the 1980s, who feel dislocated by large-scale immigration over which they have no control and who face an increasingly insecure and casualised labour market. Their revolt has paralysed the governing elite, already claimed one prime minister, and left the latest one fumbling around in the dark looking for divine inspiration.

The wave of populism marks the return of class as a central agency in politics, both in the UK and the US. This is particularly remarkable in the US. For many decades, the idea of the "working class" was marginal to American political discourse. Most Americans described themselves as middle class, a reflection of the aspirational pulse at the heart of American society. According to a Gallup poll, in 2000 only 33% of Americans called themselves working class; by 2015 the figure was 48%, almost half the population.

Brexit, too, was primarily a working-class revolt. Hitherto, on both sides of the Atlantic, the agency of class has been in retreat in the face of the emergence of a new range of identities and issues from gender and race to sexual orientation and the environment. The return of class, because of its sheer reach, has the potential, like no other issue, to redefine the political landscape.

The working class belongs to no one: its orientation, far from predetermined, is a function of politics

The re-emergence of class should not be confused with the labor movement. They are not synonymous: this is obvious in the US and increasingly the case in the UK. Indeed, over the last half-century, there has been a growing separation between the two in Britain. The re-emergence of the working class as a political voice in Britain, most notably in the Brexit vote, can best be described as an inchoate expression of resentment and protest, with only a very weak sense of belonging to the labour movement.

Indeed, Ukip has been as important – in the form of immigration and Europe – in shaping its current attitudes as the Labour party. In the United States, both Trump and Sanders have given expression to the working-class revolt, the latter almost as much as the former. The working class belongs to no one: its orientation, far from predetermined, as the left liked to think, is a function of politics.

The neoliberal era is being undermined from two directions. First, if its record of economic growth has never been particularly strong, it is now dismal. Europe is barely larger than it was on the eve of the financial crisis in 2007; the United States has done better but even its growth has been anaemic. Economists such as Larry Summers believe that the prospect for the future is most likely one of secular stagnation .

Worse, because the recovery has been so weak and fragile, there is a widespread belief that another financial crisis may well beckon. In other words, the neoliberal era has delivered the west back into the kind of crisis-ridden world that we last experienced in the 1930s. With this background, it is hardly surprising that a majority in the west now believe their children will be worse off than they were. Second, those who have lost out in the neoliberal era are no longer prepared to acquiesce in their fate – they are increasingly in open revolt. We are witnessing the end of the neoliberal era. It is not dead, but it is in its early death throes, just as the social-democratic era was during the 1970s.

A sure sign of the declining influence of neoliberalism is the rising chorus of intellectual voices raised against it. From the mid-70s through the 80s, the economic debate was increasingly dominated by monetarists and free marketeers. But since the western financial crisis, the centre of gravity of the intellectual debate has shifted profoundly. This is most obvious in the United States, with economists such as Joseph Stiglitz, Paul Krugman, Dani Rodrik and Jeffrey Sachs becoming increasingly influential. Thomas Piketty's Capital in the Twenty-First Century has been a massive seller. His work and that of Tony Atkinson and Angus Deaton have pushed the question of the inequality to the top of the political agenda. In the UK, Ha-Joon Chang , for long isolated within the economics profession, has gained a following far greater than those who think economics is a branch of mathematics.

Meanwhile, some of those who were previously strong advocates of a neoliberal approach, such as Larry Summers and the Financial Times 's Martin Wolf, have become extremely critical. The wind is in the sails of the critics of neoliberalism; the neoliberals and monetarists are in retreat. In the UK, the media and political worlds are well behind the curve. Few recognize that we are at the end of an era. Old attitudes and assumptions still predominate, whether on the BBC's Today programme, in the rightwing press or the parliamentary Labor party.

Following Ed Miliband's resignation as Labour leader, virtually no one foresaw the triumph of Jeremy Corbyn in the subsequent leadership election. The assumption had been more of the same, a Blairite or a halfway house like Miliband, certainly not anyone like Corbyn. But the zeitgeist had changed. The membership, especially the young who had joined the party on an unprecedented scale, wanted a complete break with New Labour. One of the reasons why the left has failed to emerge as the leader of the new mood of working-class disillusionment is that most social democratic parties became, in varying degrees, disciples of neoliberalism and uber-globalisation. The most extreme forms of this phenomenon were New Labour and the Democrats, who in the late 90s and 00s became its advance guard, personified by Tony Blair and Bill Clinton, triangulation and the third way.

But as David Marquand observed in a review for the New Statesman , what is the point of a social democratic party if it doesn't represent the less fortunate, the underprivileged and the losers? New Labour deserted those who needed them, who historically they were supposed to represent. Is it surprising that large sections have now deserted the party who deserted them? Blair, in his reincarnation as a money-obsessed consultant to a shady bunch of presidents and dictators, is a fitting testament to the demise of New Labour.

The rival contenders – Burnham, Cooper and Kendall – represented continuity. They were swept away by Corbyn, who won nearly 60% of the votes. New Labour was over, as dead as Monty Python's parrot. Few grasped the meaning of what had happened. A Guardian leader welcomed the surge in membership and then, lo and behold, urged support for Yvette Cooper, the very antithesis of the reason for the enthusiasm. The PLP refused to accept the result and ever since has tried with might and main to remove Corbyn.

Just as the Labour party took far too long to come to terms with the rise of Thatcherism and the birth of a new era at the end of the 70s, now it could not grasp that the Thatcherite paradigm, which they eventually came to embrace in the form of New Labour, had finally run its course. Labour, like everyone else, is obliged to think anew. The membership in their antipathy to New Labour turned to someone who had never accepted the latter, who was the polar opposite in almost every respect of Blair, and embodying an authenticity and decency which Blair patently did not.

Labour may be in intensive care, but the condition of the Conservatives is not a great deal better

Corbyn is not a product of the new times, he is a throwback to the late 70s and early 80s. That is both his strength and also his weakness. He is uncontaminated by the New Labour legacy because he has never accepted it. But nor, it would seem, does he understand the nature of the new era. The danger is that he is possessed of feet of clay in what is a highly fluid and unpredictable political environment, devoid of any certainties of almost any kind, in which Labour finds itself dangerously divided and weakened.

Labour may be in intensive care, but the condition of the Conservatives is not a great deal better. David Cameron was guilty of a huge and irresponsible miscalculation over Brexit. He was forced to resign in the most ignominious of circumstances. The party is hopelessly divided. It has no idea in which direction to move after Brexit. The Brexiters painted an optimistic picture of turning away from the declining European market and embracing the expanding markets of the world, albeit barely mentioning by name which countries it had in mind. It looks as if the new prime minister may have an anachronistic hostility towards China and a willingness to undo the good work of George Osborne. If the government turns its back on China, by far the fastest growing market in the world, where are they going to turn?

Brexit has left the country fragmented and deeply divided, with the very real prospect that Scotland might choose independence. Meanwhile, the Conservatives seem to have little understanding that the neoliberal era is in its death throes.

Dramatic as events have been in the UK, they cannot compare with those in the United States. Almost from nowhere, Donald Trump rose to capture the Republican nomination and confound virtually all the pundits and not least his own party. His message was straightforwardly anti-globalisation. He believes that the interests of the working class have been sacrificed in favour of the big corporations that have been encouraged to invest around the world and thereby deprive American workers of their jobs. Further, he argues that large-scale immigration has weakened the bargaining power of American workers and served to lower their wages.

He proposes that US corporations should be required to invest their cash reserves in the US. He believes that the North American Free Trade Agreement (Nafta) has had the effect of exporting American jobs to Mexico. On similar grounds, he is opposed to the TPP and the TTIP. And he also accuses China of stealing American jobs, threatening to impose a 45% tariff on Chinese imports.

To globalisation Trump counterposes economic nationalism: "Put America first". His appeal, above all, is to the white working class who, until Trump's (and Bernie Sander's) arrival on the political scene, had been ignored and largely unrepresented since the 1980s. Given that their wages have been falling for most of the last 40 years, it is extraordinary how their interests have been neglected by the political class. Increasingly, they have voted Republican, but the Republicans have long been captured by the super-rich and Wall Street, whose interests, as hyper-globalisers, have run directly counter to those of the white working class. With the arrival of Trump they finally found a representative: they won Trump the Republican nomination.

Trump believes that America's pursuit of great power status has squandered the nation's resources

The economic nationalist argument has also been vigorously pursued by Bernie Sanders , who ran Hillary Clinton extremely close for the Democratic nomination and would probably have won but for more than 700 so-called super-delegates, who were effectively chosen by the Democratic machine and overwhelmingly supported Clinton. As in the case of the Republicans, the Democrats have long supported a neoliberal, pro-globalisation strategy, notwithstanding the concerns of its trade union base. Both the Republicans and the Democrats now find themselves deeply polarised between the pro- and anti-globalisers, an entirely new development not witnessed since the shift towards neoliberalism under Reagan almost 40 years ago.

Another plank of Trump's nationalist appeal – "Make America great again" – is his position on foreign policy. He believes that America's pursuit of great power status has squandered the nation's resources. He argues that the country's alliance system is unfair, with America bearing most of the cost and its allies contributing far too little. He points to Japan and South Korea, and NATO's European members as prime examples. He seeks to rebalance these relationships and, failing that, to exit from them.

As a country in decline, he argues that America can no longer afford to carry this kind of financial burden. Rather than putting the world to rights, he believes the money should be invested at home, pointing to the dilapidated state of America's infrastructure. Trump's position represents a major critique of America as the world's hegemon. His arguments mark a radical break with the neoliberal, hyper-globalisation ideology that has reigned since the early 1980s and with the foreign policy orthodoxy of most of the postwar period. These arguments must be taken seriously. They should not be lightly dismissed just because of their authorship. But Trump is no man of the left. He is a populist of the right. He has launched a racist and xenophobic attack on Muslims and on Mexicans. Trump's appeal is to a white working class that feels it has been cheated by the big corporations, undermined by Hispanic immigration, and often resentful towards African-Americans who for long too many have viewed as their inferior.

A Trump America would mark a descent into authoritarianism characterised by abuse, scapegoating, discrimination, racism, arbitrariness and violence; America would become a deeply polarised and divided society. His threat to impose 45% tariffs on China , if implemented, would certainly provoke retaliation by the Chinese and herald the beginnings of a new era of protectionism.

Trump may well lose the presidential election just as Sanders failed in his bid for the Democrat nomination. But this does not mean that the forces opposed to hyper-globalisation – unrestricted immigration, TPP and TTIP, the free movement of capital and much else – will have lost the argument and are set to decline. In little more than 12 months, Trump and Sanders have transformed the nature and terms of the argument. Far from being on the wane, the arguments of the critics of hyper-globalisation are steadily gaining ground. Roughly two-thirds of Americans agree that "we should not think so much in international terms but concentrate more on our own national problems". And, above all else, what will continue to drive opposition to the hyper-globalisers is inequality.

[Dec 09, 2018] BREAKING: UK exhausted from endless stream of Brexit bollocks so here's a picture of some puppies.

Dec 09, 2018 | www.nakedcapitalism.com

Have I Got News For You @haveigotnews

BREAKING: UK exhausted from endless stream of Brexit bollocks so here's a picture of some puppies.

Theresa May told to quit by Cabinet ministers if her Brexit deal falls and she fails to get better terms from EU Telegraph

No-deal Brexit: Disruption at Dover 'could last six months' BBC. I have trouble understanding why six months. The UK's customs IT system won't be ready and there's no reason to think it will be ready even then. I could see things getting less bad due to adaptations but "less bad" is not normal

The Great Brexit Breakdown Wall Street Journal. Some parts I quibble with, but generally good and includes useful historical detail.

British MP suggests threatening Ireland with food shortages over Brexit, Twitter outrage follows RT (kevin W)

It's crunch time for Labour. Empty posturing on Brexit will no longer do Guardian. Shreds the Corbyn op-ed we criticized yesterday.

[Dec 09, 2018] Neoliberalism is more like modern feudalism - an authoritarian system where the lords (bankers, energy companies and their large and inefficient attendant bureaucracies), keep us peasants in thrall through life long debt-slavery simply to buy a house or exploit us as a captured market in the case of the energy sector.

Highly recommended!
Notable quotes:
"... I don't like using the term "neo-liberalism" that much because there is nothing "new" or "liberal" about it, the term itself just helps hide the fact that it's a political project more about power than profit and the end result is more like modern feudalism - an authoritarian system where the lords (bankers, energy companies and their large and inefficient attendant bureaucracies), keep us peasants in thrall through life long debt-slavery simply to buy a house or exploit us as a captured market in the case of the energy sector. ..."
"... Since the word "privatisation" is clearly no longer popular, the latest buzzword from this project is "outsourcing". ..."
"... As far as I can see "neo-liberalism", or what I prefer to call managerial and financialised feudalism is not dead, it's still out and about looking around for the next rent-seeking opportunity. ..."
"... In the political arena, is enabling porkies facilitate each other in every lunatic pronouncement about "Budget repair" and "on track for a surplus". And its spotty, textbook-spouting clones ("all debt is debt! Shriek, gasp, hyperventilate!") fall off the conveyor belts of tertiary education Australia-wide, then turn up on The Drum as IPA 'Research Fellows' to spout their evidence-free assertions. ..."
"... And don't forget the handmaiden of neoliberalism is their macroeconomic mythology about government "debt and borrowing" which will condemn our grandchildren to poverty - inter-generational theft! It also allows them to continue dismantling government social programs by giving tax-cuts to reduce "revenue" and then claiming there is no money to fund those programs. ..."
"... "Competition" as the cornerstone of neoliberal economics was always a lie. Corporations do their best to get rid of competitors by unfair pricing tactics or by takeovers. And even where some competitors hang in there by some means (banks, petrol companies) the competition that occurs is not for price but for profit. ..."
"... We find a shift away from democratic processes and the rise of the "all new adulation of the so-called tough leader" factor, aka Nazism/Fascism. From Trump to Turkey, Netanyahu to Putin, Brazil to China, the rise of the "right" in Europe, the South Americas, where the leader is "our great and "good" Teacher", knows best, and thus infantalises the knowledge and awareness of the rest of the population. Who needs scientists, when the "leader" knows everything? ..."
"... There are indeed alternatives to neoliberalism, most of which have been shown to lead back to neoliberalism. Appeals for fiscal and monetary relief/stimulus can only ever paper over the worst aspects of it's relentless 'progress', between wars, it seems. ..."
"... Neoliberalism seems vastly, catastrophically misunderstood. Widely perceived as the latest abomination to spring from the eternal battle 'twixt Labour and Capital, it's actual origins are somewhat more recent. Neoliberalism really, really is not just "Capitalism gone wrong". It goes much deeper, to a fundamental flaw buried( more accurately 'planted') deep in the heart of economics. ..."
"... In 1879 an obscure journalist from then-remote San Francisco, Henry George, took the world by storm with his extraordinary bestseller Progress and Poverty . Still the only published work to outsell the Bible in a single year, it did so for over twenty years, yet few social justice advocates have heard of it. ..."
"... George gravely threatened privileged global power-elites , so they erased him from academic history. A mind compared, in his time with Plato, Copernicus and Adam Smith wiped from living memory, by the modern aristocracy. ..."
"... In the process of doing so, they emasculated the discipline of economics, stripped dignity from labour, and set in motion a world-destroying doctrine. Neo-Classical Economics(aka neoliberalism) was born , to the detriment of the working-citizen and the living world on which s/he depends. ..."
Dec 09, 2018 | discussion.theguardian.com

ElectricJolt , 31 Oct 2018 04:38

I don't like using the term "neo-liberalism" that much because there is nothing "new" or "liberal" about it, the term itself just helps hide the fact that it's a political project more about power than profit and the end result is more like modern feudalism - an authoritarian system where the lords (bankers, energy companies and their large and inefficient attendant bureaucracies), keep us peasants in thrall through life long debt-slavery simply to buy a house or exploit us as a captured market in the case of the energy sector.

Since the word "privatisation" is clearly no longer popular, the latest buzzword from this project is "outsourcing". If you've had a look at The Canberra Times over the last couple of weeks there have been quite a few articles about outsourcing parts of Medicare and Centrelink, using labour hire companies and so on – is this part of a current LNP plan to "sell off" parts of the government before Labour takes the reins in May?

As far as I can see "neo-liberalism", or what I prefer to call managerial and financialised feudalism is not dead, it's still out and about looking around for the next rent-seeking opportunity.

Friarbird , 31 Oct 2018 04:02
Neoliberalism "dead"? I think not. It is riveted on the country like a straitjacket.

Which is exactly what it was always intended to be, a system gamed and rigged to ensure the wage-earning scum obtain progressively less and less of the country's productive wealth, however much they contributed to it. The wage theft and exploitation Neoliberalism fosters has become the new norm. Neoliberal idealogues thickly infest Federal and State Treasuries.

In the political arena, is enabling porkies facilitate each other in every lunatic pronouncement about "Budget repair" and "on track for a surplus". And its spotty, textbook-spouting clones ("all debt is debt! Shriek, gasp, hyperventilate!") fall off the conveyor belts of tertiary education Australia-wide, then turn up on The Drum as IPA 'Research Fellows' to spout their evidence-free assertions.

The IPA itself has moles in govt at every level--even in your local Council. Certainly in ours.

Neoliberalism is "dead"? Correction. Neoliberalism is alive, thriving---and quick to ensure its glaring deficiencies and inequities are solely attributable to its opponents. Now THERE'S a surprise.....

totaram -> JohnArmour , 31 Oct 2018 03:01
Agree! And don't forget the handmaiden of neoliberalism is their macroeconomic mythology about government "debt and borrowing" which will condemn our grandchildren to poverty - inter-generational theft! It also allows them to continue dismantling government social programs by giving tax-cuts to reduce "revenue" and then claiming there is no money to fund those programs.
exTen , 31 Oct 2018 02:30
Neoliberalism will not be dead until the underpinning of neoliberalism is abandoned by ALP and Greens. That underpinning is their mindless attachment to "budget repair" and "return to surplus". The federal government's "budget" is nothing like a currency user's budget. Currency users collect in order to spend whereas every dollar spent by the federal government is a new dollar and every dollar taxed by the federal government is an ex-dollar. A currency cannot sensibly have "debt" in the currency that it issues and no amount of surplus or deficit now will enhance or impair its capacity to spend in future. A currency issuer does not need an electronic piggybank, or a Future Fund, or a Drought Relief Fund. It can't max out an imaginary credit card. It's "borrowing" is just an exchange of its termless no-coupon liabilities (currency) for term-limited coupon-bearing liabilities (bonds). The federal budget balance is no rational indicator of any need for austerity or for stimulus. The rational indicators are unemployment (too small a "deficit"/too large a surplus) and inflation (too large a "deficit"/too small a "surplus"). Federal taxation is where dollars go to die. It doesn't "fund" a currency issuer's spending - it is there to stop the dollars it issues from piling up and causing inflation and to make room for spending by democratically elected federal parliament. The name of the game is to balance the economy, not the entirely notional and fundamentally irrelevant "budget".
Copperfield , 31 Oct 2018 01:51
"Competition" as the cornerstone of neoliberal economics was always a lie. Corporations do their best to get rid of competitors by unfair pricing tactics or by takeovers. And even where some competitors hang in there by some means (banks, petrol companies) the competition that occurs is not for price but for profit.

And changing the electoral system? Yes indeed. After years of observation it seems to me that the problem with our politics is not individual politicians (although there are notable exceptions) but political parties. Rigid control of policies and voting on party instruction (even by the Greens) makes the proceedings of parliament a complete waste of time. If every policy had to run the gauntlet of 150 people all voting by their conscience we would have better policy. The executive functions could be carried out by a cabinet also elected from those members. But not going to happen - too many vested interests in the parties and their corporate sponsors.

gidrys , 31 Oct 2018 01:34
With the election of Bolsonaro in Brazil (even though nearly 30% of electors refused to vote) it may be a little presumptuous to dissect the dead corpse of neoliberalism, as Richard Denniss' hopes that we can.

What is absolutely gob-smacking is that Brazilians voted for him; a man that Glenn Greenwald describes as "far more dangerous than Trump" , that Bolsonaro envisages military dictatorships as "being a far more superior form of government" advocating a civil war in order to dispose of the left.

Furthermore, the election of this far-right neoliberal extremist also threatens the Amazon forest and its indigenous people; with a global impact that will render combatting climate change even more difficult.

Locally, recent Liberal Party battles over leadership have included the neolib factor, as the lunatic right in that party - who I suspect would all love to be a Bolsonaro themselves - aggressively activate their grumblings and dissension.

Oh, Richard how I wish you were right; but in the Victorian election campaign - currently underway - I have seen Socialist candidates behaving in a manner that doesn't garner hope in a different way of doing politics.

The fact that 'our' democracy is based on an adversarial, partisan system leaves me with little hope. Alain Badiou wrote that "ours is not a world of democracy but a world of imperial conservatism using democratic phraseology" ; and until that imposition is discarded 'our' democracy will remain whatever we are told it is, and neolibs will continue to shove their bullshit down our throats as much as they can.

beeden , 31 Oct 2018 01:33
There is no abatement to the wealthiest in the global communities seeking greater wealth and thus increasing inequality.

Taking a local example,

We find a shift away from democratic processes and the rise of the "all new adulation of the so-called tough leader" factor, aka Nazism/Fascism. From Trump to Turkey, Netanyahu to Putin, Brazil to China, the rise of the "right" in Europe, the South Americas, where the leader is "our great and "good" Teacher", knows best, and thus infantalises the knowledge and awareness of the rest of the population. Who needs scientists, when the "leader" knows everything?

Have the people of the world abrogated their democratic responsibility?

Or is it the gerrymandering chicanery of US Republican backers/politicians( so long as you control the voting machines ) that have sent the ugly message to the world, Power is yours for the making and taking by any means that ignores the public's rights in the decision making process. Has the "neo-liberal" world delivered a corrupted system of democracy that has deliberately alienated the world's population from actively participating fully in the full awareness that their vote counts and will be counted?

Do we need to take back the controls of democracy to ensure that it is the will of the people and not a manipulation by vested interest groups/individuals? You're darn tootin'!!!

Matt Quinn , 31 Oct 2018 01:32
A thoughtful piece. Thanks. There are indeed alternatives to neoliberalism, most of which have been shown to lead back to neoliberalism. Appeals for fiscal and monetary relief/stimulus can only ever paper over the worst aspects of it's relentless 'progress', between wars, it seems.

Neoliberalism seems vastly, catastrophically misunderstood. Widely perceived as the latest abomination to spring from the eternal battle 'twixt Labour and Capital, it's actual origins are somewhat more recent. Neoliberalism really, really is not just "Capitalism gone wrong". It goes much deeper, to a fundamental flaw buried( more accurately 'planted') deep in the heart of economics.

Instead of trying to understand Neo-Classical Economics it is perhaps more instructive to understand what it was built, layer by layer, to obscure. First the Land system, then the Wealth system, and finally the Money system (hived off into a compartment - 'macroeconomics'). Importantly, three entirely different categories of "thing" .

In 1879 an obscure journalist from then-remote San Francisco, Henry George, took the world by storm with his extraordinary bestseller Progress and Poverty . Still the only published work to outsell the Bible in a single year, it did so for over twenty years, yet few social justice advocates have heard of it.

George set out to discover why the worst poverty always seemed to accompany the most progress. By chasing down the production process to its ends, and tracing where the proceeds were going, he succeeded spectacularly. From Progress and Poverty , Chapter 17 - "The Problem Explained" :

Three things unite in production: land, labor, and capital. Three parties divide the output: landowner, laborer, and capitalist. If the laborer and capitalist get no more as production increases, it is a necessary inference that the landowner takes the gain.

George gravely threatened privileged global power-elites , so they erased him from academic history. A mind compared, in his time with Plato, Copernicus and Adam Smith wiped from living memory, by the modern aristocracy.

In the process of doing so, they emasculated the discipline of economics, stripped dignity from labour, and set in motion a world-destroying doctrine. Neo-Classical Economics(aka neoliberalism) was born , to the detriment of the working-citizen and the living world on which s/he depends.

Einstein was a fan of George, and used his methods of thought-experiment and powerful inductive reasoning to discover Relativity, twenty years later. Henry Georges brilliant insights into Land (aka nature), Wealth (what you want, need), and Money (sharing mechanism) are as relevant as ever, and until they are rediscovered, we are likely to re-run the 1900's over and over, with fewer and fewer resources.

~ How Land Barons, Industrialists and Bankers Corrupted Economics .

[Nov 27, 2018] American capitalism could afford to make concessions assiciated with The New Deal because of its economic dominance. The past forty years have been characterized by the continued decline of American capitalism on a world stage relative to its major rivals. The ruling class has responded to this crisis with a neoliberal counterrevolution to claw back all gains won by workers. This policy has been carried out under both Democratic and Republican administrations and with the assistance of the trade unions.

Highly recommended!
Notable quotes:
"... The original "New Deal," which included massive public works infrastructure projects, was introduced by Democratic President Franklin Roosevelt in the 1930s amid the Great Depression. Its purpose was to stave off a socialist revolution in America. It was a response to a militant upsurge of strikes and violent class battles, led by socialists who were inspired by the 1917 Russian Revolution ..."
"... Since the 2008 crash, first under Bush and Obama, and now Trump, the ruling elites have pursued a single-minded policy of enriching the wealthy, through free credit, corporate bailouts and tax cuts, while slashing spending on social services. ..."
"... To claim as does Ocasio-Cortez that American capitalism can provide a new "New Deal," of a green or any other variety, is to pfile:///F:/Private_html/Skeptics/Political_skeptic/Neoliberalism/Historyromote an obvious political fiction." ..."
Nov 27, 2018 | thenewkremlinstooge.wordpress.com

Northern Star November 26, 2018 at 4:23 pm

As the New deal unravels:

"The original "New Deal," which included massive public works infrastructure projects, was introduced by Democratic President Franklin Roosevelt in the 1930s amid the Great Depression. Its purpose was to stave off a socialist revolution in America. It was a response to a militant upsurge of strikes and violent class battles, led by socialists who were inspired by the 1917 Russian Revolution that had occurred less than two decades before.

American capitalism could afford to make such concessions because of its economic dominance. The past forty years have been characterized by the continued decline of American capitalism on a world stage relative to its major rivals. The ruling class has responded to this crisis with a social counterrevolution to claw back all gains won by workers. This has been carried out under both Democratic and Republican administrations and with the assistance of the trade unions.

Since the 2008 crash, first under Bush and Obama, and now Trump, the ruling elites have pursued a single-minded policy of enriching the wealthy, through free credit, corporate bailouts and tax cuts, while slashing spending on social services.

To claim as does Ocasio-Cortez that American capitalism can provide a new "New Deal," of a green or any other variety, is to pfile:///F:/Private_html/Skeptics/Political_skeptic/Neoliberalism/Historyromote an obvious political fiction."

https://www.wsws.org/en/articles/2018/11/23/cort-n23.html

[Nov 22, 2018] Here's one for all those who say, indignantly, "US debt is not 100% of GDP". No, that's right; it's not.

Nov 22, 2018 | thenewkremlinstooge.wordpress.com

Mark Chapman November 14, 2018 at 8:46 pm

Here's one for all those who say, indignantly, "US debt is not 100% of GDP". No, that's right; it's not.

https://seekingalpha.com/article/4221893-liquidity-bubble-pops-face-biggest-crisis-yet

[Nov 17, 2018] Goldman Sachs CEO is "personally outraged" at criminal behavior in his bank

I guess he thinks Lloyd Blankfein god is a real greedy thief that would screw people for a dollar.
Nov 17, 2018 | caucus99percent.com
disreputable behavior in his bank.

... ... ...

Ah, yes. Goldman Sachs is famous for their "good work and integrity".

The US Department of Justice (DOJ) has said about $4.5 billion was misappropriated from 1MDB, including some money that Goldman Sachs helped raise, by high-level officials of the fund and their associates from 2009 through 2014.

US prosecutors filed criminal charges against 2 former Goldman Sachs bankers earlier this month. One of them, Tim Leissner, pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act.

I'm sure it was just a "few bad apples", like Goldman Sachs's Ex-CEO Lloyd Blankfein , who was personally involved in the transaction.
You might remember Lloyd from his doing "God's Work" .

[Nov 03, 2018] Neoliberal Measurement Mania

Highly recommended!
Technology is dominated by two types of people: those who understand what they do not manage, and those who manage what they do not understand. -- Archibald Putt
Neoliberal PHBs like talk about KJLOCs, error counts, tickets closed and other types of numerical measurements designed so that they can be used by lower-level PHBs to report fake results to higher level PHBs. These attempts to quantify 'the quality' and volume of work performed by software developers and sysadmins completely miss the point. For software is can lead to code bloat.
The number of tickets taken and resolved in a specified time period probably the most ignorant way to measure performance of sysadmins. For sysadmin you can invent creative creating way of generating and resolving tickets. And spend time accomplishing fake task, instead of thinking about real problem that datacenter face. Using Primitive measurement strategies devalue the work being performed by Sysadmins and programmers. They focus on the wrong things. They create the boundaries that are supposed to contain us in a manner that is comprehensible to the PHB who knows nothing about real problems we face.
Notable quotes:
"... Technology is dominated by two types of people: those who understand what they do not manage, and those who manage what they do not understand. ..."
Nov 03, 2018 | www.rako.com

In an advanced research or development project, success or failure is largely determined when the goals or objectives are set and before a manager is chosen. While a hard-working and diligent manager can increase the chances of success, the outcome of the project is most strongly affected by preexisting but unknown technological factors over which the project manager has no control. The success or failure of the project should not, therefore, be used as the sole measure or even the primary measure of the manager's competence.

Putt's Law Is promulgated

Without an adequate competence criterion for technical managers, there is no way to determine when a person has reached his level of incompetence. Thus a clever and ambitious individual may be promoted from one level of incompetence to another. He will ultimately perform incompetently in the highest level of the hierarchy just as he did in numerous lower levels. The lack of an adequate competence criterion combined with the frequent practice of creative incompetence in technical hierarchies results in a competence inversion, with the most competent people remaining near the bottom while persons of lesser talent rise to the top. It also provides the basis for Putt's Law, which can be stated in an intuitive and nonmathematical form as follows:

Technology is dominated by two types of people: those who understand what they do not manage, and those who manage what they do not understand.

As in any other hierarchy, the majority of persons in technology neither understand nor manage much of anything. This, however, does not create an exception to Putt's Law, because such persons clearly do not dominate the hierarchy. While this was not previously stated as a basic law, it is clear that the success of every technocrat depends on his ability to deal with and benefit from the consequences of Putt's Law.

[Oct 12, 2018] The Fundamentals are Strong!

Oct 10, 2018 | angrybearblog.com

"The fundamentals and future of the U.S. economy remain incredibly strong."

[Sep 29, 2018] Steve Keen How Economics Became a Cult

Highly recommended!
Notable quotes:
"... I still find it incredible that this video by Samuelson essentially acknowledging that a key part of his multi-decade "core" textbook is religion, not science, is not more widely shared. ..."
Sep 29, 2018 | www.nakedcapitalism.com

Steve Keen of Kingston University, London gives an important high-level talk on the considerable shortcomings of mainstream economics. Keen argues that a major objective of the discipline is to justify the virtues of markets, which in turn leads them to adopt a strongly ideological posture along with highly simplified models and narrow mathematical approaches to reach conclusions that they find acceptable.

Keen has many informative asides, like the introductory level texts he used in the 1970s were more advanced than many graduate level guides.

https://www.youtube.com/embed/JeplRmADW3E


el_tel , September 29, 2018 at 7:09 am

I still find it incredible that this video by Samuelson essentially acknowledging that a key part of his multi-decade "core" textbook is religion, not science, is not more widely shared.

OK the person who constructed the complete youtube vid has typos etc and editing probably didn't help the cause. but still

[Sep 27, 2018] Hiding in Plain Sight Why We Cannot See the System Destroying Us

Highly recommended!
Notable quotes:
"... But strangely most of us are much readier to concede the corrupting influence of the relatively small power of individuals than we are the rottenness of vastly more powerful institutions and structures. We blame the school teacher or the politician for abusing his or her power, while showing a reluctance to do the same about either the education or political systems in which they have to operate. ..."
"... It is relatively easy to understand that your line manager is abusing his power, because he has so little of it. His power is visible to you because it relates only to you and the small group of people around you ..."
"... It is a little harder, but not too difficult, to identify the abusive policies of your firm – the low pay, cuts in overtime, attacks on union representation ..."
"... It is more difficult to see the corrupt power of large institutions, aside occasionally from the corruption of senior figures within those institutions, such as a Robert Maxwell or a Richard Nixon ..."
"... But it is all but impossible to appreciate the corrupt nature of the entire system. And the reason is right there in those aphorisms: absolute power depends on absolute control over knowledge, which in turn necessitates absolute corruption. If that were not the case, we wouldn't be dealing with serious power – as should be obvious, if we pause to think about it ..."
"... The current neoliberal elite who effectively rule the planet have reached as close to absolute power as any elite in human history. And because they have near-absolute power, they have a near-absolute control of the official narratives about our societies and our "enemies", those who stand in their way to global domination ..."
"... What is clear, however, is that the British intelligence services have been feeding the British corporate media a self-serving, drip-drip narrative from the outset – and that the media have shown precisely no interest at any point in testing any part of this narrative or even questioning it. They have been entirely passive, which means that we their readers have been entirely passive too ..."
"... Journalists typically have a passive relationship to power, in stark contrast to their image as tenacious watchdog. But more fundamental than control over narrative is the ideology that guides these narratives. Ideology ensures the power-system is invisible not only to us, those who are abused and exploited by it, but also to those who benefit from it. ..."
"... It is precisely because power resides in structures and ideology, rather than individuals, that it is so hard to see. And the power-structures themselves are made yet more difficult to identify because the narratives created about our societies are designed to conceal those structures and ideology – where real power resides – by focusing instead on individuals ..."
"... Before neoliberalism there were other systems of rule. There was, for example, feudalism that appropriated a communal resource – land – exclusively for an aristocracy. It exploited the masses by forcing them to toil on the land for a pittance to generate the wealth that supported castles, a clergy, manor houses, art collections and armies. For several centuries the power of this tiny elite went largely unquestioned ..."
"... Neoliberalism, late-stage capitalism, plutocratic rule by corporations – whatever you wish to call it – has allowed a tiny elite to stash away more wealth and accrue more power than any feudal monarch could ever have dreamt of. And because of the global reach of this elite, its corruption is more endemic, more complete, more destructive than any ever known to mankind ..."
"... A foreign policy elite can destroy the world several times over with nuclear weapons. A globalised corporate elite is filling the oceans with the debris from our consumption, and chopping down the forest-lungs of our planet for palm-oil plantations so we can satisfy our craving for biscuits and cake. And our media and intelligence services are jointly crafting a narrative of bogeymen and James Bond villains – both in Hollywood movies, and in our news programmes – to make us fearful and pliable ..."
"... The system – whether feudalism, capitalism, neoliberalism – emerges out of the real-world circumstances of those seeking power most ruthlessly. In a time when the key resource was land, a class emerged justifying why it should have exclusive rights to control that land and the labour needed to make it productive. When industrial processes developed, a class emerged demanding that it had proprietary rights to those processes and to the labour needed to make them productive. ..."
"... In these situations, we need to draw on something like Darwin's evolutionary "survival of the fittest" principle. Those few who are most hungry for power, those with least empathy, will rise to the top of the pyramid, finding themselves best-placed to exploit the people below. They will rationalise this exploitation as a divine right, or as evidence of their inherently superior skills, or as proof of the efficiency of the market. ..."
"... And below them, like the layers of ball bearings, will be those who can help them maintain and expand their power: those who have the skills, education and socialisation to increase profits and sell brands. ..."
"... None of this should surprise us either. Because power – not just the people in the system, but the system itself – will use whatever tools it has to protect itself. It is easier to deride critics as unhinged, especially when you control the media, the politicians and the education system, than it is to provide a counter-argument. ..."
"... so neoliberalism is driven not by ethics but the pursuit of power and wealth through the control of the planet. ..."
"... The only truth we can know is that the western power-elite is determined to finish the task of making its power fully global, expanding it from near-absolute to absolute. It cares nothing for you or your grand-children. It is a cold-calculating system, not a friend or neighbour. It lives for the instant gratification of wealth accumulation, not concern about the planet's fate tomorrow. ..."
Sep 27, 2018 | www.counterpunch.org

I rarely tell readers what to believe. Rather I try to indicate why it might be wise to distrust, at least without very good evidence, what those in power tell us we should believe.

We have well-known sayings about power: "Knowledge is power", and "Power tends to corrupt, while absolute power tends to corrupt absolutely." These aphorisms resonate because they say something true about how we experience the world. People who have power – even very limited power they hold on licence from someone else – tend to abuse it, sometimes subtly and unconsciously, and sometimes overtly and wilfully.

If we are reasonably self-aware, we can sense the tendency in ourselves to exploit to our advantage whatever power we enjoy, whether it is in our dealings with a spouse, our children, a friend, an employee, or just by the general use of our status to get ahead.

This isn't usually done maliciously or even consciously. By definition, the hardest thing to recognise are our own psychological, emotional and mental blind spots – and the biggest, at least for those born with class, gender or race privileges, is realising that these too are forms of power.

Nonetheless, they are all minor forms of power compared to the power wielded collectively by the structures that dominate our societies: the financial sector, the corporations, the media, the political class, and the security services.

But strangely most of us are much readier to concede the corrupting influence of the relatively small power of individuals than we are the rottenness of vastly more powerful institutions and structures. We blame the school teacher or the politician for abusing his or her power, while showing a reluctance to do the same about either the education or political systems in which they have to operate.

Similarly, we are happier identifying the excessive personal power of a Rupert Murdoch than we are the immense power of the corporate empire behind him and on which his personal wealth and success depend.

And beyond this, we struggle most of all to detect the structural and ideological framework underpinning or cohering all these discrete examples of power.

Narrative control

It is relatively easy to understand that your line manager is abusing his power, because he has so little of it. His power is visible to you because it relates only to you and the small group of people around you.

It is a little harder, but not too difficult, to identify the abusive policies of your firm – the low pay, cuts in overtime, attacks on union representation.

It is more difficult to see the corrupt power of large institutions, aside occasionally from the corruption of senior figures within those institutions, such as a Robert Maxwell or a Richard Nixon.

But it is all but impossible to appreciate the corrupt nature of the entire system. And the reason is right there in those aphorisms: absolute power depends on absolute control over knowledge, which in turn necessitates absolute corruption. If that were not the case, we wouldn't be dealing with serious power – as should be obvious, if we pause to think about it.

Real power in our societies derives from that which is necessarily hard to see – structures, ideology and narratives – not individuals. Any Murdoch or Trump can be felled, though being loyal acolytes of the power-system they rarely are, should they threaten the necessary maintenance of power by these interconnected institutions, these structures.

The current neoliberal elite who effectively rule the planet have reached as close to absolute power as any elite in human history. And because they have near-absolute power, they have a near-absolute control of the official narratives about our societies and our "enemies", those who stand in their way to global domination.

No questions about Skripals

One needs only to look at the narrative about the two men, caught on CCTV cameras, who have recently been accused by our political and media class of using a chemical agent to try to murder Sergei Skripal and his daughter Yulia back in March.

I don't claim to know whether Alexander Petrov and Ruslan Boshirov work for the Russian security services, or whether they were dispatched by Vladimir Putin on a mission to Salisbury to kill the Skripals.

What is clear, however, is that the British intelligence services have been feeding the British corporate media a self-serving, drip-drip narrative from the outset – and that the media have shown precisely no interest at any point in testing any part of this narrative or even questioning it. They have been entirely passive, which means that we their readers have been entirely passive too.

That there are questions about the narrative to be raised is obvious if you turn away from the compliant corporate media and seek out the views of an independent-minded, one-time insider such as Craig Murray.

A former British ambassador, Murray is asking questions that may prove to be pertinent or not. At this stage, when all we have to rely on is what the intelligence services are selectively providing, these kinds of doubts should be driving the inquiries of any serious journalist covering the story. But as is so often the case, not only are these questions not being raised or investigated, but anyone like Murray who thinks critically – who assumes that the powerful will seek to promote their interests and avoid accountability – is instantly dismissed as a conspiracy theorist or in Putin's pocket.

That is no meaningful kind of critique. Many of the questions that have been raised – like why there are so many gaps in the CCTV record of the movements of both the Skripals and the two assumed assassins – could be answered if there was an interest in doing so. The evasion and the smears simply suggest that power intends to remain unaccountable, that it is keeping itself concealed, that the narrative is more important than the truth.

And that is reason enough to move from questioning the narrative to distrusting it.

Ripples on a lake

Journalists typically have a passive relationship to power, in stark contrast to their image as tenacious watchdog. But more fundamental than control over narrative is the ideology that guides these narratives. Ideology ensures the power-system is invisible not only to us, those who are abused and exploited by it, but also to those who benefit from it.

It is precisely because power resides in structures and ideology, rather than individuals, that it is so hard to see. And the power-structures themselves are made yet more difficult to identify because the narratives created about our societies are designed to conceal those structures and ideology – where real power resides – by focusing instead on individuals.

That is why our newspapers and TV shows are full of stories about personalities – celebrities, royalty, criminals, politicians. They are made visible so we fail to notice the ideological structures we live inside, which are supposed to remain invisible.

News and entertainment are the ripples on a lake, not the lake itself. But the ripples could not exist without the lake that forms and shapes them.

Up against the screen

If this sounds like hyperbole, let's stand back from our particular ideological system – neoliberalism – and consider earlier ideological systems in the hope that they offer some perspective. At the moment, we are like someone standing right up against an IMAX screen, so close that we cannot see that there is a screen or even guess that there is a complete picture. All we see are moving colours and pixels. Maybe we can briefly infer a mouth, the wheel of a vehicle, a gun.

Before neoliberalism there were other systems of rule. There was, for example, feudalism that appropriated a communal resource – land – exclusively for an aristocracy. It exploited the masses by forcing them to toil on the land for a pittance to generate the wealth that supported castles, a clergy, manor houses, art collections and armies. For several centuries the power of this tiny elite went largely unquestioned.

But then a class of entrepreneurs emerged, challenging the landed artistocracy with a new means of industrialised production. They built factories and took advantage of scales of economy that slightly widened the circle of privilege, creating a middle class. That elite, and the middle-class that enjoyed crumbs from their master's table, lived off the exploitation of children in work houses and the labour of a new urban poor in slum housing.

These eras were systematically corrupt, enabling the elites of those times to extend and entrench their power. Each elite produced justifications to placate the masses who were being exploited, to brainwash them into believing the system existed as part of a natural order or even for their benefit. The aristocracy relied on a divine right of kings, the capitalist class on the guiding hand of the free market and bogus claims of equality of opportunity.

In another hundred years, if we still exist as a species, our system will look no less corrupt – probably more so – than its predecessors.

Neoliberalism, late-stage capitalism, plutocratic rule by corporations – whatever you wish to call it – has allowed a tiny elite to stash away more wealth and accrue more power than any feudal monarch could ever have dreamt of. And because of the global reach of this elite, its corruption is more endemic, more complete, more destructive than any ever known to mankind.

A foreign policy elite can destroy the world several times over with nuclear weapons. A globalised corporate elite is filling the oceans with the debris from our consumption, and chopping down the forest-lungs of our planet for palm-oil plantations so we can satisfy our craving for biscuits and cake. And our media and intelligence services are jointly crafting a narrative of bogeymen and James Bond villains – both in Hollywood movies, and in our news programmes – to make us fearful and pliable.

Assumptions of inevitability

Most of us abuse our own small-power thoughtlessly, even self-righteously. We tell ourselves that we gave the kids a "good spanking" because they were naughty, rather than because we established with them early on a power relationship that confusingly taught them that the use of force and coercion came with a parental stamp of approval.

Those in greater power, from minions in the media to executives of major corporations, are no different. They are as incapable of questioning the ideology and the narrative – how inevitable and "right" our neoliberal system is – as the rest of us. But they play a vital part in maintaining and entrenching that system nonetheless.

David Cromwell and David Edwards of Media Lens have provided two analogies – in the context of the media – that help explain how it is possible for individuals and groups to assist and enforce systems of power without having any conscious intention to do so, and without being aware that they are contributing to something harmful. Without, in short, being aware that they are conspiring in the system.

The first :

When a shoal of fish instantly changes direction, it looks for all the world as though the movement was synchronised by some guiding hand. Journalists – all trained and selected for obedience by media all seeking to maximise profits within state-capitalist society – tend to respond to events in the same way.

The second :

Place a square wooden framework on a flat surface and pour into it a stream of ball bearings, marbles, or other round objects. Some of the balls may bounce out, but many will form a layer within the wooden framework; others will then find a place atop this first layer. In this way, the flow of ball bearings steadily builds new layers that inevitably produce a pyramid-style shape. This experiment is used to demonstrate how near-perfect crystalline structures such as snowflakes arise in nature without conscious design.

The system – whether feudalism, capitalism, neoliberalism – emerges out of the real-world circumstances of those seeking power most ruthlessly. In a time when the key resource was land, a class emerged justifying why it should have exclusive rights to control that land and the labour needed to make it productive. When industrial processes developed, a class emerged demanding that it had proprietary rights to those processes and to the labour needed to make them productive.

Our place in the pyramid

In these situations, we need to draw on something like Darwin's evolutionary "survival of the fittest" principle. Those few who are most hungry for power, those with least empathy, will rise to the top of the pyramid, finding themselves best-placed to exploit the people below. They will rationalise this exploitation as a divine right, or as evidence of their inherently superior skills, or as proof of the efficiency of the market.

And below them, like the layers of ball bearings, will be those who can help them maintain and expand their power: those who have the skills, education and socialisation to increase profits and sell brands.

All of this should be obvious, even non-controversial. It fits what we experience of our small-power lives. Does bigger power operate differently? After all, if those at the top of the power-pyramid were not hungry for power, even psychopathic in its pursuit, if they were caring and humane, worried primarily about the wellbeing of their workforce and the planet, they would be social workers and environmental activists, not CEOs of media empires and arms manufacturers.

And yet, base your political thinking on what should be truisms, articulate a worldview that distrusts those with the most power because they are the most capable of – and committed to – misusing it, and you will be derided. You will be called a conspiracy theorist, dismissed as deluded. You will be accused of wearing a tinfoil hat, of sour grapes, of being anti-American, a social warrior, paranoid, an Israel-hater or anti-semitic, pro-Putin, pro-Assad, a Marxist.

None of this should surprise us either. Because power – not just the people in the system, but the system itself – will use whatever tools it has to protect itself. It is easier to deride critics as unhinged, especially when you control the media, the politicians and the education system, than it is to provide a counter-argument.

In fact, it is vital to prevent any argument or real debate from taking place. Because the moment we think about the arguments, weigh them, use our critical faculties, there is a real danger that the scales will fall from our eyes. There is a real threat that we will move back from the screen, and see the whole picture.

Can we see the complete picture of the Skripal poisoning in Salisbury; or the US election that led to Trump being declared president; or the revolution in Ukraine; or the causes and trajectory of fighting in Syria, and before it Libya and Iraq; or the campaign to discredit Jeremy Corbyn as leader of the Labour party; or the true implications of the banking crisis a decade ago?

Profit, not ethics

Just as a feudal elite was driven not by ethics but by the pursuit of power and wealth through the control of land; just as early capitalists were driven not by ethics but by the pursuit of power and wealth through the control of mechanisation; so neoliberalism is driven not by ethics but the pursuit of power and wealth through the control of the planet.

The only truth we can know is that the western power-elite is determined to finish the task of making its power fully global, expanding it from near-absolute to absolute. It cares nothing for you or your grand-children. It is a cold-calculating system, not a friend or neighbour. It lives for the instant gratification of wealth accumulation, not concern about the planet's fate tomorrow.

And because of that it is structurally bound to undermine or discredit anyone, any group, any state that stands in the way of achieving its absolute dominion.

If that is not the thought we hold uppermost in our minds as we listen to a politician, read a newspaper, watch a film or TV show, absorb an ad, or engage on social media, then we are sleepwalking into a future the most powerful, the most ruthless, the least caring have designed for us.

Step back, and take a look at the whole screen. And decide whether this is really the future you wish for your grand-children.

Jonathan Cook won the Martha Gellhorn Special Prize for Journalism. His latest books are " Israel and the Clash of Civilisations: Iraq, Iran and the Plan to Remake the Middle East" (Pluto Press) and " Disappearing Palestine: Israel's Experiments in Human Despair " (Zed Books). His website is http://www.jonathan-cook.net/

[Sep 07, 2018] Neomodernism - Wikipedia

Highly recommended!
Sep 07, 2018 | en.wikipedia.org

Ágnes Heller

Ágnes Heller's work is associated with Moral Anthropology and "probing modernity's destiny for a non-predatory humanism that combines the existential wisdom of ancient theory with modern values." [1]

Neomodernism accepts some aspects of postmodernism's critique of modernism, notably that modernism elevated the world view of dominant groups to the status of objective fact, thereby failing to express the viewpoint of " subaltern groups," such as women and ethnic minorities. However, in her view, neomodernism rejects postmodernism as:

Victor Grauer

In 1982, Victor Grauer attacked "the cult of the new," and proposed that there had arisen a "neo-modern" movement in the arts which was based on deep formal rigor, rather than on "the explosion of pluralism." [2] His argument was that post-modernism was exclusively a negative attack on modernism, and had no future separate from modernism proper, a point of view which is held by many scholars of modernism. [2]

Carlos Escudé

In "Natural Law at War", a review essay published on 31 May 2002 in The Times Literary Supplement (London, TLS No. 5174), Carlos Escudé wrote: "Postmodern humanity faces a major challenge. It must solve a dilemma it does not want to face. If all cultures are morally equivalent, then all human individuals are not endowed with the same human rights, because some cultures award some men more rights than are allotted to other men and women. If, on the other hand, all men and women are endowed with the same human rights, then all cultures are not morally equivalent, because cultures that acknowledge that 'all men are created equal' are to be regarded as 'superior,' or 'more advanced' in terms of their civil ethics than those that do not." Escudé's brand of neomodernism contends with "politically-correct intellectuals who prefer to opt for the easy way out, asserting both that we all have the same human rights and that all cultures are equal."

Andre Durand and Armando Alemdar

Published their own Neomodernist Manifesto in 2001. The Neomodern Manifesto posits criteria for a revitalised approach to works of art founded on history, traditional artistic disciplines, theology and philosophy. Durand's and Alemdar's Neomodernism views art as an act of expression of the sublime; in Neomodern painting as a representation of the visual appearance of things with correspondence to the physical world understood as a model for beauty, truth, and good. Neomodern works of art via mimesis interpret and present the universe and man's existence, in line with the belief that the reality we live is but a mirror of another universe that can only be accessed through inspiration and imagination.

Gabriel Omowaye

Gabriel Lolu Omowaye, in his speech 'A new challenging time' to a group of college students in Nigeria, in 2005, took a different approach to neomodernism. He viewed neomodernism as a political philosophy that became more prominent in the early 21st century. To him, it involves common goal and joint global effort - universalism - to address arising global challenges such as population growth, natural resources, climate change and environmental factors, natural causes and effects, and health issues. Omowaye posited that political will is the major driver of economic necessities. As a result, he added that neomodernism involves limited government-regulated liberalism along with high drive innovation and entrepreneurship, high literacy rate, progressive taxation for social equity, philanthropism, technological advancement, economic development and individual growth. He perceived the quest for equal representation of men and women in the neomodern era as a strong signal for advent of postmodernism. So also, the quest for youths engagement in resourceful and rewarding ways especially in governance, peace building and self-productivity has not taken a formidable shape than it is at this time. As far as he was concerned, he believed most of these challenges were not adequately tackled in preceding eras and the arising challenges thus stated were not prepared for and that cause for change in mentality and thinking which the neomodern era is providing for solutions to the era's challenges, with a prospective view to global stability and social inclusion. His philosophical thought premised on a fact that new times require new approaches from new reasonings, even if some applicable ideas or methologies could be borrowed from the past, an acute form of paradigm-shift.

Omowaye believed in idealism as guiding realism and in turn, realism as defining idealism. Moral concepts cannot be wished away from social norms, but evolving social trends dissipate morality in form of religion and logical standards and adheres to current norms in form of 'what should be'. Consequently, the manner at which 'what should be' is driven at in the modern and postmodern eras, being widely accepted became 'what is'. The manner at which the damage of the new 'what is' is hampering development process in the form of higher mortality rate and decadence of cultural good, calls to question the ideology behind the norms that are less beneficial to a wider society in form of globalization. The world as a whole through technological advancement became a global community particularly, in the 21st century. Former Secretary General of the United Nations, Kofi Annan then stated that the "suffering anywhere concerns people everywhere". Champions of neomodern age such as Bill Gates and Richard Branson in the field of philanthropy expounded their vision to encompass the global community in social good such as alleviating poverty, eradicating diseases, enhancing literacy rates and addressing climate changes.

Technological advancement of the neomodern era however has its downturns in that it added to the decadence in cultural good such that people everywhere, especially high number of youths follow the trends in the new 'what is', which include social celebrities in the form of dressing, sexual activities, extravagancies, and less interest in learning and even, working but more interest in making money. Money became a value-determinant than utility. This brought about frauds in various sectors. This latter aspect is not limited to youths but even company executives, and politicians of many societies. Technological advancement has made privacy less safer for intrusion and people more safer for protection. The supposedly good of technological advancement in the neomodern era has included whistle blow such as Wikileaks' Julian Assange. The more good has been in the level of innovations and innovators it has sprung up such as Facebook's Mark Zuckerberg and easier business models and broader social connectivity. This latter part has lessened more amity in immediate environment and many people tend to live more in the virtual world neomodern technological advancements have created.

Neomodernism checks more into the current relative way of living of people and the society to correct necessary abnormalities and to encourage virtues and values within the global community in the 21st century.

In furtherance, Gabriel Omowaye's view of neomodernism was that knowledge comes from learning and experience, and wisdom primarily from intuition. Knowledge is a variable of set occurrences of that which happens to a man and that which a man seeks to know. Knowledge is vital and good for discretion but a minor part of discernment wherein what is known might not be applicable. Intuition is a function of the mind and the mind, not seen, and yet unknown to the carrier, is a function of what put the thoughts, ideas and discretion in it. Wisdom without knowledge is vague, and knowledge without wisdom, unworthy. Wisdom perfects knowledge, and in the absence of either, the sole is delusory.

[Aug 28, 2018] A Colony in a Nation by Chris Hayes

Highly recommended!
Notable quotes:
"... Here is an except from "A Colony in a Nation" by Chris Hayes that she recently discussed (Chris Hayes is also the author of Twilight of the Elites ) ..."
"... ...we have built a colony in a nation, not in the classic Marxist sense but in the deep sense we can appreciate as a former colony ourselves: A territory that isn't actually free. A place controlled from outside rather than within. A place where the mechanisms of representation don't work enough to give citizens a sense of ownership over their own government. A place where the law is a tool of control rather than a foundation for prosperity. ..."
"... A Colony in a Nation is not primarily a history lesson, though it does provide a serious, empathetic look at the problems facing the Colony, as well as at the police officers tasked with making rapid decisions in a gun-rich environment. ..."
"... Elsewhere, Hayes examines his own experiences with the law, such as an incident when he was almost caught accidentally smuggling "about thirty dollars' worth of marijuana stuffed into my eyeglass case" into the 2000 Republican National Convention. Hayes got away without so much as a slap on the wrist, protected by luck, circumstances and privilege. ..."
Mar 23, 2017 | economistsview.typepad.com
"Listening to this show by MSNB is so disguising that I lost any respect for it. "

I actually jumped the gun. That's does not mean that it should not be viewed. There are some positive aspects of MSNBC http://www.msnbc.com/rachel-maddow-show

Here is an except from "A Colony in a Nation" by Chris Hayes that she recently discussed (Chris Hayes is also the author of Twilight of the Elites )

...we have built a colony in a nation, not in the classic Marxist sense but in the deep sense we can appreciate as a former colony ourselves: A territory that isn't actually free. A place controlled from outside rather than within. A place where the mechanisms of representation don't work enough to give citizens a sense of ownership over their own government. A place where the law is a tool of control rather than a foundation for prosperity.

... ... ...

A Colony in a Nation is not primarily a history lesson, though it does provide a serious, empathetic look at the problems facing the Colony, as well as at the police officers tasked with making rapid decisions in a gun-rich environment.

Hayes takes us through his less-than-successful experience putting himself in the latter's shoes by trying out an unusual training tool, a virtually reality simulator: "We're only one scene in, and already the self-righteous liberal pundit has drawn his weapon on an unarmed man holding a cinder block."

Elsewhere, Hayes examines his own experiences with the law, such as an incident when he was almost caught accidentally smuggling "about thirty dollars' worth of marijuana stuffed into my eyeglass case" into the 2000 Republican National Convention. Hayes got away without so much as a slap on the wrist, protected by luck, circumstances and privilege.

For black men living in the Colony, encounters with the police are much more fraught. Racial profiling and minor infractions can lead to "being swept into the vortex of a penal system that captures more than half the black men his age in his neighborhood... an adulthood marked by prison, probation, and dismal job prospects...."

[Aug 19, 2018] End of "classic neoliberalism": to an extent hardly imaginable in 2008, all the world's leading economies are locked in a perpetually escalating cycle of economic warfare.

Highly recommended!
Notable quotes:
"... But to an extent hardly imaginable in 2008, all the world's leading economies are locked in a perpetually escalating cycle of economic warfare. This global trade war is spearheaded by the Trump White House, which sees trade sanctions and tariffs, such as the onslaught it launched against Turkey, as an integral component of its drive to secure the United States' geopolitical and economic interests at the expense of friend and foe alike. ..."
"... But while they are deeply divided as to their economic and geo-political objectives, the capitalist ruling classes are united on one essential question. However the next stage of the ongoing breakdown of world capitalism proceeds, they will all strive by whatever means considered necessary to make the working class the world over pay for it. ..."
"... In 2008, capitalist governments around the world, above all in the US, derived enormous benefit from the decades-long suppression of the class struggle by the trade unions and the parties of the political establishment. The rescue operation they carried out on behalf of parasitic and criminal finance capital would not have been possible without it ..."
Aug 19, 2018 | thenewkremlinstooge.wordpress.com

Northern Star August 16, 2018 at 3:07 pm

http://www.wsws.org/en/articles/2018/08/16/pers-a16.html

"But to an extent hardly imaginable in 2008, all the world's leading economies are locked in a perpetually escalating cycle of economic warfare. This global trade war is spearheaded by the Trump White House, which sees trade sanctions and tariffs, such as the onslaught it launched against Turkey, as an integral component of its drive to secure the United States' geopolitical and economic interests at the expense of friend and foe alike.

The character of world economy has undergone a major transformation in the past decade in which economic growth, to the extent it that it occurs, is not driven by the development of production and new investments but by the flow of money from one source of speculative and parasitic activity to the next."

"But while they are deeply divided as to their economic and geo-political objectives, the capitalist ruling classes are united on one essential question. However the next stage of the ongoing breakdown of world capitalism proceeds, they will all strive by whatever means considered necessary to make the working class the world over pay for it.

This is the lesson from the past decade which, in every country, has seen a deepening attack on wages, social conditions and living standards as wealth is redistributed up the income scale, raising social inequality to unprecedented heights.

In 2008, capitalist governments around the world, above all in the US, derived enormous benefit from the decades-long suppression of the class struggle by the trade unions and the parties of the political establishment. The rescue operation they carried out on behalf of parasitic and criminal finance capital would not have been possible without it."

[Aug 10, 2018] On Contact: Casino Capitalism with Natasha Dow Schull

Highly recommended!
This is kind of symbolic and amazing figures: 34 billions are spend in casinos each year. and that's just official figure...
Notable quotes:
"... Casinos and Gambling are a tax on the ignorant and the indigent. ..."
"... Economist, Michael Hudson recently said in an interview that economics trumps politics every time. I am an observer of casinos and gambling in it's many forms. I am someone who has been fleeced by vulture capitalists and unscrupulous financial types as well as government officials in charge of business financial assistance schemes that don't deliver. ..."
"... Another version of how ''Brave New World'' has come to pass. The documentaries: ''The Century of the Self'' and ''HyperNormalisation 2016'' by Adam Curtis explain how we have been subdued. This lady professor is very knowledgable. Excellent episode. ..."
"... Completing the circle of predatory capitalism. Government controlled by oligarchy/plutoracry that see us, the citizens, as enemies of the state. ..."
Mar 25, 2017 | www.youtube.com

On this week's episode of On Contact, Chris Hedges discusses the ramifications of casino culture in America with Professor Natasha Dow Schüll, author of " Addiction by Design: Machine Gambling in Las Vegas". RT Correspondent Anya Parampil examines how gambling has become our premier form of entertainment and escape.


gre999999man , 1 year ago

Casinos and Gambling are a tax on the ignorant and the indigent.

Gerald Comeau , 1 year ago (edited)

Economist, Michael Hudson recently said in an interview that economics trumps politics every time. I am an observer of casinos and gambling in it's many forms. I am someone who has been fleeced by vulture capitalists and unscrupulous financial types as well as government officials in charge of business financial assistance schemes that don't deliver.

Often the two ie the vultures and the government officials work in tandem.

I have extreme distaste for these zombies and an always on the alert. I am bowled over with how an overwhelming number of people in society are scammed day in and day out and having their lives ruined. I fear it will shatter life as we know it not for individuals only but for whole nations. People must pay more attention to attention to what this video says and what Michael Hudson explains in his books .....Killing the Host and Junk Economics are his most recent ones.

PleaseStayTuned , 1 year ago

I liked what she had to say, but I wonder why she didn't go a bit deeper into the operant conditioning aspect considering that's what Skinner's work was based on. Why intermittent rewards work so well, and why the dopamine spike curve is so important in conditioning a behavior in anything with a limbic system. Important because understanding how dopamine and dopamine spikes work came largely from gambling research for slot machines. Technology that was built on Skinner's work by the gov and then business marketing along with gov propaganda, then gambling. If people understood how it worked and where the technology came from they would be much less likely to let gambling addiction happen in the first place.

Darren Swift , 1 year ago

I come from a family of gamblers, at least on my father's side. My dad towed us around to the racetracks and billiards parlors until we were old enough to drive, and card games for money were a frequent family activity for us. I never felt attracted to gambling, and often feel bored by the prospect. Needless to say, with advanced age I now find myself estranged from my remaining siblings. What had occurred to me some time ago is how living life is such a gamble. Outcomes can always vary, from planning and preparing for a career to going to the market for groceries. Games of chance seem to furnish a microcosm of the life experience, where participants are allowed an illusion of greater control and the outcomes tend to be uniformly immediate. It also allows you to ignore your greater life experience. Maybe that's the "zone" so many enjoy. I didn't remember what "March Madness" is. Until all those slots were shown I thought they were talking about something similar to Black Friday. Now that I remember, it hits me that my brother and sister undoubtedly have their bets down in multiple pools.

John E , 1 year ago

Another version of how ''Brave New World'' has come to pass. The documentaries: ''The Century of the Self'' and ''HyperNormalisation 2016'' by Adam Curtis explain how we have been subdued. This lady professor is very knowledgable. Excellent episode.

writernthesky , 1 year ago

And casinos have no windows so that it's difficult to track the time.

Richard Burt , 6 months ago

Skinner on slot machine as metaphor for the Skinner box! incredible.

Joe M , 1 year ago

Completing the circle of predatory capitalism. Government controlled by oligarchy/plutoracry that see us, the citizens, as enemies of the state.

Patricia MacLeod , 1 month ago

23:50 right on. We selfie generation are too busy trolling the media and playing games to think, meditate, analyze, understand and act for our fellow man or a healthier future for our country. It's all about me and my short-term gratifications.

starmanskye , 1 year ago

Casino-Disasterism Capitalism is well named -- All of the engineered mechano-psychological traits used to make longshot escapist-gambling popular, lucrative and addicting, based on the faux-goals of numb indulgence, cultivating of cheap-thrill delights, pandering to the conceits of synthetic wastrel satisfactions and dead-end fatalism -- is evident in the terminal phase of the global corporate deepstate technoracy of Empire Inc. that is pillaging and plundering its way across the planet, securitizing the earth right out from under our feet! ~ ; )

Mechyuda , 1 year ago

Professor Natasha Dow Schüll said Trump won the presidential election, because Trump used his casino expertise to manipulate voters. Based on the news I've seen, Trump was a failed casino owner. Trump is a con-artist who uses his massive inheritance, multiple bankruptcies, privatized large gains, socialized larger losses, and sales hype in order "to win". Trump, Obama, and Bush Jr. are good examples of how the average person lacks the talent, training, and experience to manage his/her own nation. Democracy, majority tyranny, mob rule, or dumb-mock-crazy elections are modern myths.

inessa armand , 1 year ago

The Clinton era, signified so much. Basically, in regard to this aspect, the very ending of any culture whatsoever; gambling casinos took over our down-towns, and our oldest landmarks. I went in once and saw those carpets and nearly puked. Now she tells why they are so ugly. Why any human being would find that appealing reminds me of Kissinger's infamous quote: "We've successfully made the public so dumb, I cannot die. For there is no one to replace me.."

[Jul 28, 2018] American Society Would Collapse If It Were not For These 8 Myths by Lee Camp

Highly recommended!
Notable quotes:
"... Well, it comes down to the myths we've been sold. Myths that are ingrained in our social programming from birth, deeply entrenched, like an impacted wisdom tooth. These myths are accepted and basically never questioned. ..."
"... Our media outlets are funded by weapons contractors, big pharma, big banks, big oil and big, fat hard-on pills. (Sorry to go hard on hard-on pills, but we can't get anything resembling hard news because it's funded by dicks.) The corporate media's jobs are to rally for war, cheer for Wall Street and froth at the mouth for consumerism. It's their mission to actually fortify belief in the myths I'm telling you about right now. Anybody who steps outside that paradigm is treated like they're standing on a playground wearing nothing but a trench coat. ..."
"... The criminal justice system has become a weapon wielded by the corporate state. This is how bankers can foreclose on millions of homes illegally and see no jail time, but activists often serve jail time for nonviolent civil disobedience. Chris Hedges recently noted , "The most basic constitutional rights have been erased for many. Our judicial system, as Ralph Nader has pointed out, has legalized secret law, secret courts, secret evidence, secret budgets and secret prisons in the name of national security." ..."
"... This myth (Buying will make you happy) is put forward mainly by the floods of advertising we take in but also by our social engineering. Most of us feel a tenacious emptiness, an alienation deep down behind our surface emotions (for a while I thought it was gas). That uneasiness is because most of us are flushing away our lives at jobs we hate before going home to seclusion boxes called houses or apartments. We then flip on the TV to watch reality shows about people who have it worse than we do (which we all find hilarious). ..."
"... According to Deloitte's Shift Index survey : "80% of people are dissatisfied with their jobs" and "[t]he average person spends 90,000 hours at work over their lifetime." That's about one-seventh of your life -- and most of it is during your most productive years. ..."
"... Try maintaining your privacy for a week without a single email, web search or location data set collected by the NSA and the telecoms. ..."
Jul 27, 2018 | www.zerohedge.com

Authored by Lee Camp via TruthDig.com,

Our society should've collapsed by now. You know that, right?

No society should function with this level of inequality (with the possible exception of one of those prison planets in a "Star Wars" movie). Sixty-three percent of Americans can't afford a $500 emergency . Yet Amazon head Jeff Bezos is now worth a record $141 billion . He could literally end world hunger for multiple years and still have more money left over than he could ever spend on himself.

Worldwide, one in 10 people only make $2 a day. Do you know how long it would take one of those people to make the same amount as Jeff Bezos has? 193 million years . (If they only buy single-ply toilet paper.) Put simply, you cannot comprehend the level of inequality in our current world or even just our nation.

So shouldn't there be riots in the streets every day? Shouldn't it all be collapsing? Look outside. The streets aren't on fire. No one is running naked and screaming (usually). Does it look like everyone's going to work at gunpoint? No. We're all choosing to continue on like this.

Why?

Well, it comes down to the myths we've been sold. Myths that are ingrained in our social programming from birth, deeply entrenched, like an impacted wisdom tooth. These myths are accepted and basically never questioned.

I'm going to cover eight of them. There are more than eight. There are probably hundreds. But I'm going to cover eight because (A) no one reads a column titled "Hundreds of Myths of American Society," (B) these are the most important ones and (C) we all have other shit to do.

Myth No. 8 -- We have a democracy.

If you think we still have a democracy or a democratic republic, ask yourself this: When was the last time Congress did something that the people of America supported that did not align with corporate interests? You probably can't do it. It's like trying to think of something that rhymes with "orange." You feel like an answer exists but then slowly realize it doesn't. Even the Carter Center and former President Jimmy Carter believe that America has been transformed into an oligarchy : A small, corrupt elite control the country with almost no input from the people. The rulers need the myth that we're a democracy to give us the illusion of control.

Myth No. 7 -- We have an accountable and legitimate voting system.

Gerrymandering, voter purging, data mining, broken exit polling, push polling, superdelegates, electoral votes, black-box machines, voter ID suppression, provisional ballots, super PACs, dark money, third parties banished from the debates and two corporate parties that stand for the same goddamn pile of fetid crap!

What part of this sounds like a legitimate election system?

No, we have what a large Harvard study called the worst election system in the Western world . Have you ever seen where a parent has a toddler in a car seat, and the toddler has a tiny, brightly colored toy steering wheel so he can feel like he's driving the car? That's what our election system is -- a toy steering wheel. Not connected to anything. We all sit here like infants, excitedly shouting, "I'm steeeeering !"

And I know it's counterintuitive, but that's why you have to vote. We have to vote in such numbers that we beat out what's stolen through our ridiculous rigged system.

Myth No. 6 -- We have an independent media that keeps the rulers accountable.

Our media outlets are funded by weapons contractors, big pharma, big banks, big oil and big, fat hard-on pills. (Sorry to go hard on hard-on pills, but we can't get anything resembling hard news because it's funded by dicks.) The corporate media's jobs are to rally for war, cheer for Wall Street and froth at the mouth for consumerism. It's their mission to actually fortify belief in the myths I'm telling you about right now. Anybody who steps outside that paradigm is treated like they're standing on a playground wearing nothing but a trench coat.

Myth No. 5 -- We have an independent judiciary.

The criminal justice system has become a weapon wielded by the corporate state. This is how bankers can foreclose on millions of homes illegally and see no jail time, but activists often serve jail time for nonviolent civil disobedience. Chris Hedges recently noted , "The most basic constitutional rights have been erased for many. Our judicial system, as Ralph Nader has pointed out, has legalized secret law, secret courts, secret evidence, secret budgets and secret prisons in the name of national security."

If you're not part of the monied class, you're pressured into releasing what few rights you have left. According to The New York Times , "97 percent of federal cases and 94 percent of state cases end in plea bargains, with defendants pleading guilty in exchange for a lesser sentence."

That's the name of the game. Pressure people of color and poor people to just take the plea deal because they don't have a million dollars to spend on a lawyer. (At least not one who doesn't advertise on beer coasters.)

Myth No. 4 -- The police are here to protect you. They're your friends .

That's funny. I don't recall my friend pressuring me into sex to get out of a speeding ticket. (Which is essentially still legal in 32 states .)

The police in our country are primarily designed to do two things: protect the property of the rich and perpetrate the completely immoral war on drugs -- which by definition is a war on our own people .

We lock up more people than any other country on earth . Meaning the land of the free is the largest prison state in the world. So all these droopy-faced politicians and rabid-talking heads telling you how awful China is on human rights or Iran or North Korea -- none of them match the numbers of people locked up right here under Lady Liberty's skirt.

Myth No. 3 -- Buying will make you happy.

This myth (Buying will make you happy) is put forward mainly by the floods of advertising we take in but also by our social engineering. Most of us feel a tenacious emptiness, an alienation deep down behind our surface emotions (for a while I thought it was gas). That uneasiness is because most of us are flushing away our lives at jobs we hate before going home to seclusion boxes called houses or apartments. We then flip on the TV to watch reality shows about people who have it worse than we do (which we all find hilarious).

If we're lucky, we'll make enough money during the week to afford enough beer on the weekend to help it all make sense. (I find it takes at least four beers for everything to add up.) But that doesn't truly bring us fulfillment. So what now? Well, the ads say buying will do it. Try to smother the depression and desperation under a blanket of flat-screen TVs, purses and Jet Skis. Now does your life have meaning? No? Well, maybe you have to drive that Jet Ski a little faster! Crank it up until your bathing suit flies off and you'll feel alive !

The dark truth is that we have to believe the myth that consuming is the answer or else we won't keep running around the wheel. And if we aren't running around the wheel, then we start thinking, start asking questions. Those questions are not good for the ruling elite, who enjoy a society based on the daily exploitation of 99 percent of us.

Myth No. 2 -- If you work hard, things will get better.

According to Deloitte's Shift Index survey : "80% of people are dissatisfied with their jobs" and "[t]he average person spends 90,000 hours at work over their lifetime." That's about one-seventh of your life -- and most of it is during your most productive years.

Ask yourself what we're working for. To make money? For what? Almost none of us are doing jobs for survival anymore. Once upon a time, jobs boiled down to:

I plant the food -- >I eat the food -- >If I don't plant food = I die.

But nowadays, if you work at a café -- will someone die if they don't get their super-caf-mocha-frap-almond-piss-latte? I kinda doubt they'll keel over from a blueberry scone deficiency.

If you work at Macy's, will customers perish if they don't get those boxer briefs with the sweat-absorbent-ass fabric? I doubt it. And if they do die from that, then their problems were far greater than you could've known. So that means we're all working to make other people rich because we have a society in which we have to work. Technological advancements can do most everything that truly must get done.

So if we wanted to, we could get rid of most work and have tens of thousands of more hours to enjoy our lives. But we're not doing that at all. And no one's allowed to ask these questions -- not on your mainstream airwaves at least. Even a half-step like universal basic income is barely discussed because it doesn't compute with our cultural programming.

Scientists say it's quite possible artificial intelligence will take away all human jobs in 120 years . I think they know that will happen because bots will take the jobs and then realize that 80 percent of them don't need to be done! The bots will take over and then say, "Stop it. Stop spending a seventh of your life folding shirts at Banana Republic."

One day, we will build monuments to the bot that told us to enjoy our lives and leave the shirts wrinkly.

And this leads me to the largest myth of our American society.

Myth No. 1 -- You are free.

... ... ...

Try sleeping in your car for more than a few hours without being harassed by police.

Try maintaining your privacy for a week without a single email, web search or location data set collected by the NSA and the telecoms.

Try signing up for the military because you need college money and then one day just walking off the base, going, "Yeah, I was bored. Thought I would just not do this anymore."

Try explaining to Kentucky Fried Chicken that while you don't have the green pieces of paper they want in exchange for the mashed potatoes, you do have some pictures you've drawn on a napkin to give them instead.

Try running for president as a third-party candidate. (Jill Stein was shackled and chained to a chair by police during one of the debates.)

Try using the restroom at Starbucks without buying something while black.

We are less free than a dog on a leash. We live in one of the hardest-working, most unequal societies on the planet with more billionaires than ever .

Meanwhile, Americans supply 94 percent of the paid blood used worldwide. And it's almost exclusively coming from very poor people. This abusive vampire system is literally sucking the blood from the poor. Does that sound like a free decision they made? Or does that sound like something people do after immense economic force crushes down around them? (One could argue that sperm donation takes a little less convincing.)

Point is, in order to enforce this illogical, immoral system, the corrupt rulers -- most of the time -- don't need guns and tear gas to keep the exploitation mechanisms humming along. All they need are some good, solid bullshit myths for us all to buy into, hook, line and sinker. Some fairy tales for adults.

It's time to wake up.


bobcatz -> powow Fri, 07/27/2018 - 16:43 Permalink

Myth #9: America is not an Israeli colony

DingleBarryObummer -> bobcatz Fri, 07/27/2018 - 16:49 Permalink

#10: Muh 6 Gorillion

#11: Building 7

bfellow -> DingleBarryObummer Fri, 07/27/2018 - 16:55 Permalink

815M people chronically malnourished according to the UN. Bezos is worth $141B.

$141B / 815M people = $173 per person. That would definitely not feed them for "multiple years". And that's only if Bezos could fully liquidate the stock without it dropping a penny.

Author lost me right there.

Oldguy05 -> Oldguy05 Fri, 07/27/2018 - 22:25 Permalink

" Point is, in order to enforce this illogical, immoral system, the corrupt rulers -- most of the time -- don't need guns and tear gas to keep the exploitation mechanisms humming along. All they need are some good, solid bullshit myths for us all to buy into, hook, line and sinker. Some fairy tales for adults. "

Seems like there's tear gas in the air and guns are going to be used soon. The myths are dying on the tongues of the liars. Molon Labe!....and I'm usually a pacifist.

BennyBoy -> Nunny Fri, 07/27/2018 - 18:51 Permalink

"American Society Would Collapse If It Weren't For Invasions Of Foreign Countries, Murdering Their People, Stealing Their Oil Then Blaming Them For Making The US Do It."

Oldguy05 -> Nunny Fri, 07/27/2018 - 22:43 Permalink

Eisenhower's speeches were awesome and true. But he was right there doing the same shit. Was he feeling guilty in the end?

Proofreder -> vato poco Fri, 07/27/2018 - 18:39 Permalink

Freedom - just another word for nothing left to lose ...

https://www.youtube.com/watch?v=N7hk-hI0JKw&list=RDEMoIkwgyb6gDyuA-bFyR

east of eden -> vato poco Fri, 07/27/2018 - 18:55 Permalink

Well, in a world driven by oil, it is entirely bogus to suggest that citizens have to work their asses off. That was the whole point of the bill of goods that was sold to us in the late 70's and early 80'. More leisure time, more time for your family and personal interests.

Except! It never happened. All they fucking did was reduce real wages and force everyone from the upper middle class down, into a shit hole.

But, they will pay for their folly. Guaran-fucking-teed.

TheEndIsNear -> HopefulCynical Fri, 07/27/2018 - 18:33 Permalink

As one who has hoed many rows of cotton in 115F temperatures as well as picking cotton during my childhood and early adolescence during weekends and school holidays, I concur. It was a very powerful inducement to get a good education back when schools actually taught things and did not tolerate backtalk or guff from students instead of babysitting them. It worked, and I ended up writing computer software for spacecraft, which was much fun than working in the fields.

[Jun 28, 2018] Oil will never be above $44 WTI in my lifetime.

Jun 28, 2018 | peakoilbarrel.com

shallow sand x Ignored says: 06/27/2018 at 2:29 pm

"Oil will never be above $44 WTI in my lifetime."

Dennis Gartman.

[Jun 15, 2018] Creationists and George W Bush: Bush junior is the best argument against intelligent design

Jun 15, 2018 | www.unz.com

AnonFromTN ,

There are many other clear traces of evolution (constantly developing antibiotic resistance of disease-causing bacteria being one of the most obvious), but the funniest argument for evolution I know is this: "Bush junior is the best argument against intelligent design: nobody intelligent would ever design that".

[Jun 06, 2018] Neoliberal language allows to cut wages by packaging neoliberal oligarchy preferences as national interests

Highly recommended!
Neoliberals are a flavor of Trotskyites and they will reach any depths to hang on to power.
Notable quotes:
"... Just as conservative Christian theology provides an excuse for sexism and homophobia, neoliberal language allows powerful groups to package their personal preferences as national interests – systematically cutting spending on their enemies and giving money to their friends. ..."
"... Nothing short of a grass roots campaign (such as that waged by GetUp!) will get rid for us of these modern let-them-eat-cake parasites who consider their divine duty to lord over us. ..."
Jun 06, 2018 | discussion.theguardian.com
meticulousdoc , 3 Jun 2018 16:16

Just as conservative Christian theology provides an excuse for sexism and homophobia, neoliberal language allows powerful groups to package their personal preferences as national interests – systematically cutting spending on their enemies and giving money to their friends.

And when the conservative "Christians" form a neoliberal government, the results are toxic for all, except themselves and their coterie.

Nothing short of a grass roots campaign (such as that waged by GetUp!) will get rid for us of these modern let-them-eat-cake parasites who consider their divine duty to lord over us.

An excellent article, we need more of them.

[May 31, 2018] Meet the Economist Behind the One Percent's Stealth Takeover of America by Lynn Parramore

Highly recommended!
This looks like Ann Rand philosophy: "The people who needed protection were property owners, and their rights could only be secured though constitutional limits to prevent the majority of voters from encroaching on them, an idea Buchanan lays out in works like Property as a Guarantor of Liberty (1993). MacLean observes that Buchanan saw society as a cutthroat realm of makers (entrepreneurs) constantly under siege by takers (everybody else) His own language was often more stark, warning the alleged "prey" of "parasites" and "predators" out to fleece them."
Notable quotes:
"... By Lynn Parramore, Senior Research Analyst, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website ..."
"... The Limits of Liberty ..."
"... Property as a Guarantor of Liberty ..."
"... Brown v. Board of Education ..."
"... Calhoun, called the "Marx of the Master Class" by historian Richard Hofstadter, saw himself and his fellow southern oligarchs as victims of the majority. Therefore, as MacLean explains, he sought to create "constitutional gadgets" to constrict the operations of government ..."
"... She argues out that unlike even the most property-friendly founders Alexander Hamilton and James Madison, Buchanan wanted a private governing elite of corporate power that was wholly released from public accountability. ..."
"... Suppressing voting, changing legislative processes so that a normal majority could no longer prevail, sowing public distrust of government institutions -- all these were tactics toward the goal. But the Holy Grail was the Constitution: alter it and you could increase and secure the power of the wealthy in a way that no politician could ever challenge. ..."
"... MacLean observes that the Virginia school, as Buchanan's brand of economic and political thinking is known, is a kind of cousin to the better-known, market-oriented Chicago and Austrian schools -- proponents of all three were members of the Mont Pelerin Society, an international neoliberal organization which included Milton Friedman and Friedrich Hayek. But the Virginia school's focus and career missions were distinct. In an interview with the Institute for New Economic Thinking (INET), MacLean described Friedman and Buchanan as yin and yang: "Friedman was this genial, personable character who loved to be in the limelight and made a sunny case for the free market and the freedom to choose and so forth. Buchanan was the dark side of this: he thought, ok, fine, they can make a case for the free market, but everybody knows that free markets have externalities and other problems. So he wanted to keep people from believing that government could be the alternative to those problems." ..."
"... Buchanan's school focused on public choice theory, later adding constitutional economics and the new field of law and economics to its core research and advocacy. The economist saw that his vision would never come to fruition by focusing on who rules. It was much better to focus on the rules themselves , and that required a "constitutional revolution." ..."
"... MacLean describes how the economist developed a grand project to train operatives to staff institutions funded by like-minded tycoons, most significantly Charles Koch, who became interested in his work in the '70s and sought the economist's input in promoting "Austrian economics" in the U.S. and in advising the Cato Institute, a libertarian think tank. ..."
"... With Koch's money and enthusiasm, Buchanan's academic school evolved into something much bigger. By the 1990s, Koch realized that Buchanan's ideas -- transmitted through stealth and deliberate deception, as MacLean amply documents -- could help take government down through incremental assaults that the media would hardly notice. The tycoon knew that the project was extremely radical, even a "revolution" in governance, but he talked like a conservative to make his plans sound more palatable. ..."
"... At the 1997 fiftieth anniversary of the Mont Pelerin Society, MacLean recounts that Buchanan and his associate Henry Manne, a founding theorist of libertarian economic approaches to law, focused on such affronts to capitalists as environmentalism and public health and welfare, expressing eagerness to dismantle Social Security, Medicaid, and Medicare as well as kill public education because it tended to foster community values. Feminism had to go, too: the scholars considered it a socialist project. ..."
"... To put the success into perspective, MacLean points to the fact that Henry Manne, whom Buchanan was instrumental in hiring, created legal programs for law professors and federal judges which could boast that by 1990 two of every five sitting federal judges had participated. "40 percent of the U.S. federal judiciary," writes MacLean, "had been treated to a Koch-backed curriculum." ..."
"... Buchanan's role in the disastrous Pinochet government of Chile has been underestimated partly because unlike Milton Friedman, who advertised his activities, Buchanan had the shrewdness to keep his involvement quiet. With his guidance, the military junta deployed public choice economics in the creation of a new constitution, which required balanced budgets and thereby prevented the government from spending to meet public needs. Supermajorities would be required for any changes of substance, leaving the public little recourse to challenge programs like the privatization of social security. ..."
"... The Limits of Liberty ..."
"... MacLean is not the only scholar to sound the alarm that the country is experiencing a hostile takeover that is well on its way to radically, and perhaps permanently, altering the society. Peter Temin, former head of the MIT economics department, INET grantee, and author of The Vanishing Middle Class ..."
"... The One Percent Solution ..."
"... She observes, for example, that many liberals have missed the point of strategies like privatization. Efforts to "reform" public education and Social Security are not just about a preference for the private sector over the public sector, she argues. You can wrap your head around, even if you don't agree. Instead, MacLean contents, the goal of these strategies is to radically alter power relations, weakening pro-public forces and enhancing the lobbying power and commitment of the corporations that take over public services and resources, thus advancing the plans to dismantle democracy and make way for a return to oligarchy. The majority will be held captive so that the wealthy can finally be free to do as they please, no matter how destructive. ..."
"... MacLean argues that despite the rhetoric of Virginia school acolytes, shrinking big government is not really the point. The oligarchs require a government with tremendous new powers so that they can bypass the will of the people. This, as MacLean points out, requires greatly expanding police powers "to control the resultant popular anger." The spreading use of pre-emption by GOP-controlled state legislatures to suppress local progressive victories such as living wage ordinances is another example of the right's aggressive use of state power. ..."
"... They could, and have ..."
"... Getting it done ..."
"... Why I, Too, Am Not a Conservative ..."
May 31, 2018 | www.nakedcapitalism.com
May 31, 2018 By Lynn Parramore, Senior Research Analyst, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website

Nobel laureate James Buchanan is the intellectual lynchpin of the Koch-funded attack on democratic institutions, argues Duke historian Nancy MacLean

Ask people to name the key minds that have shaped America's burst of radical right-wing attacks on working conditions, consumer rights and public services, and they will typically mention figures like free market-champion Milton Friedman, libertarian guru Ayn Rand, and laissez-faire economists Friedrich Hayek and Ludwig von Mises.

James McGill Buchanan is a name you will rarely hear unless you've taken several classes in economics. And if the Tennessee-born Nobel laureate were alive today, it would suit him just fine that most well-informed journalists, liberal politicians, and even many economics students have little understanding of his work.

The reason? Duke historian Nancy MacLean contends that his philosophy is so stark that even young libertarian acolytes are only introduced to it after they have accepted the relatively sunny perspective of Ayn Rand. (Yes, you read that correctly). If Americans really knew what Buchanan thought and promoted, and how destructively his vision is manifesting under their noses, it would dawn on them how close the country is to a transformation most would not even want to imagine, much less accept.

That is a dangerous blind spot, MacLean argues in a meticulously researched book, Democracy in Chains , a finalist for the National Book Award in Nonfiction. While Americans grapple with Donald Trump's chaotic presidency, we may be missing the key to changes that are taking place far beyond the level of mere politics. Once these changes are locked into place, there may be no going back.

An Unlocked Door in Virginia

MacLean's book reads like an intellectual detective story. In 2010, she moved to North Carolina, where a Tea Party-dominated Republican Party got control of both houses of the state legislature and began pushing through a radical program to suppress voter rights, decimate public services, and slash taxes on the wealthy that shocked a state long a beacon of southern moderation. Up to this point, the figure of James Buchanan flickered in her peripheral vision, but as she began to study his work closely, the events in North Carolina and also Wisconsin, where Governor Scott Walker was leading assaults on collective bargaining rights, shifted her focus.

Could it be that this relatively obscure economist's distinctive thought was being put forcefully into action in real time?

MacLean could not gain access to Buchanan's papers to test her hypothesis until after his death in January 2013. That year, just as the government was being shut down by Ted Cruz & Co., she traveled to George Mason University in Virginia, where the economist's papers lay willy-nilly across the offices of a building now abandoned by the Koch-funded faculty to a new, fancier center in Arlington.

MacLean was stunned. The archive of the man who had sought to stay under the radar had been left totally unsorted and unguarded. The historian plunged in, and she read through boxes and drawers full of papers that included personal correspondence between Buchanan and billionaire industrialist Charles Koch. That's when she had an amazing realization: here was the intellectual lynchpin of a stealth revolution currently in progress.

A Theory of Property Supremacy

Buchanan, a 1940 graduate of Middle Tennessee State University who later attended the University of Chicago for graduate study, started out as a conventional public finance economist. But he grew frustrated by the way in which economic theorists ignored the political process.

Buchanan began working on a description of power that started out as a critique of how institutions functioned in the relatively liberal 1950s and '60s, a time when economist John Maynard Keynes's ideas about the need for government intervention in markets to protect people from flaws so clearly demonstrated in the Great Depression held sway. Buchanan, MacLean notes, was incensed at what he saw as a move toward socialism and deeply suspicious of any form of state action that channels resources to the public. Why should the increasingly powerful federal government be able to force the wealthy to pay for goods and programs that served ordinary citizens and the poor?

In thinking about how people make political decisions and choices, Buchanan concluded that you could only understand them as individuals seeking personal advantage. In interview cited by MacLean, the economist observed that in the 1950s Americans commonly assumed that elected officials wanted to act in the public interest. Buchanan vehemently disagreed -- that was a belief he wanted, as he put it, to "tear down." His ideas developed into a theory that came to be known as "public choice."

Buchanan's view of human nature was distinctly dismal. Adam Smith saw human beings as self-interested and hungry for personal power and material comfort, but he also acknowledged social instincts like compassion and fairness. Buchanan, in contrast, insisted that people were primarily driven by venal self-interest. Crediting people with altruism or a desire to serve others was "romantic" fantasy: politicians and government workers were out for themselves, and so, for that matter, were teachers, doctors, and civil rights activists. They wanted to control others and wrest away their resources: "Each person seeks mastery over a world of slaves," he wrote in his 1975 book, The Limits of Liberty .

Does that sound like your kindergarten teacher? It did to Buchanan.

The people who needed protection were property owners, and their rights could only be secured though constitutional limits to prevent the majority of voters from encroaching on them, an idea Buchanan lays out in works like Property as a Guarantor of Liberty (1993). MacLean observes that Buchanan saw society as a cutthroat realm of makers (entrepreneurs) constantly under siege by takers (everybody else) His own language was often more stark, warning the alleged "prey" of "parasites" and "predators" out to fleece them.

In 1965 the economist launched a center dedicated to his theories at the University of Virginia, which later relocated to George Mason University. MacLean describes how he trained thinkers to push back against the Brown v. Board of Education decision to desegregate America's public schools and to challenge the constitutional perspectives and federal policy that enabled it. She notes that he took care to use economic and political precepts, rather than overtly racial arguments, to make his case, which nonetheless gave cover to racists who knew that spelling out their prejudices would alienate the country.

All the while, a ghost hovered in the background -- that of John C. Calhoun of South Carolina, senator and seventh vice president of the United States.

Calhoun was an intellectual and political powerhouse in the South from the 1820s until his death in 1850, expending his formidable energy to defend slavery. Calhoun, called the "Marx of the Master Class" by historian Richard Hofstadter, saw himself and his fellow southern oligarchs as victims of the majority. Therefore, as MacLean explains, he sought to create "constitutional gadgets" to constrict the operations of government.

Economists Tyler Cowen and Alexander Tabarrok, both of George Mason University, have noted the two men's affinities, heralding Calhoun "a precursor of modern public choice theory" who "anticipates" Buchanan's thinking. MacLean observes that both focused on how democracy constrains property owners and aimed for ways to restrict the latitude of voters. She argues out that unlike even the most property-friendly founders Alexander Hamilton and James Madison, Buchanan wanted a private governing elite of corporate power that was wholly released from public accountability.

Suppressing voting, changing legislative processes so that a normal majority could no longer prevail, sowing public distrust of government institutions -- all these were tactics toward the goal. But the Holy Grail was the Constitution: alter it and you could increase and secure the power of the wealthy in a way that no politician could ever challenge.

Gravy Train to Oligarchy

MacLean explains that Virginia's white elite and the pro-corporate president of the University of Virginia, Colgate Darden, who had married into the DuPont family, found Buchanan's ideas to be spot on. In nurturing a new intelligentsia to commit to his values, Buchanan stated that he needed a "gravy train," and with backers like Charles Koch and conservative foundations like the Scaife Family Charitable Trusts, others hopped aboard. Money, Buchanan knew, can be a persuasive tool in academia. His circle of influence began to widen.

MacLean observes that the Virginia school, as Buchanan's brand of economic and political thinking is known, is a kind of cousin to the better-known, market-oriented Chicago and Austrian schools -- proponents of all three were members of the Mont Pelerin Society, an international neoliberal organization which included Milton Friedman and Friedrich Hayek. But the Virginia school's focus and career missions were distinct. In an interview with the Institute for New Economic Thinking (INET), MacLean described Friedman and Buchanan as yin and yang: "Friedman was this genial, personable character who loved to be in the limelight and made a sunny case for the free market and the freedom to choose and so forth. Buchanan was the dark side of this: he thought, ok, fine, they can make a case for the free market, but everybody knows that free markets have externalities and other problems. So he wanted to keep people from believing that government could be the alternative to those problems."

The Virginia school also differs from other economic schools in a marked reliance on abstract theory rather than mathematics or empirical evidence. That a Nobel Prize was awarded in 1986 to an economist who so determinedly bucked the academic trends of his day was nothing short of stunning, MacLean observes. But, then, it was the peak of the Reagan era, an administration several Buchanan students joined.

Buchanan's school focused on public choice theory, later adding constitutional economics and the new field of law and economics to its core research and advocacy. The economist saw that his vision would never come to fruition by focusing on who rules. It was much better to focus on the rules themselves , and that required a "constitutional revolution."

MacLean describes how the economist developed a grand project to train operatives to staff institutions funded by like-minded tycoons, most significantly Charles Koch, who became interested in his work in the '70s and sought the economist's input in promoting "Austrian economics" in the U.S. and in advising the Cato Institute, a libertarian think tank.

Koch, whose mission was to save capitalists like himself from democracy, found the ultimate theoretical tool in the work of the southern economist. The historian writes that Koch preferred Buchanan to Milton Friedman and his "Chicago boys" because, she says, quoting a libertarian insider, they wanted "to make government work more efficiently when the true libertarian should be tearing it out at the root."

With Koch's money and enthusiasm, Buchanan's academic school evolved into something much bigger. By the 1990s, Koch realized that Buchanan's ideas -- transmitted through stealth and deliberate deception, as MacLean amply documents -- could help take government down through incremental assaults that the media would hardly notice. The tycoon knew that the project was extremely radical, even a "revolution" in governance, but he talked like a conservative to make his plans sound more palatable.

MacLean details how partnered with Koch, Buchanan's outpost at George Mason University was able to connect libertarian economists with right-wing political actors and supporters of corporations like Shell Oil, Exxon, Ford, IBM, Chase Manhattan Bank, and General Motors. Together they could push economic ideas to public through media, promote new curricula for economics education, and court politicians in nearby Washington, D.C.

At the 1997 fiftieth anniversary of the Mont Pelerin Society, MacLean recounts that Buchanan and his associate Henry Manne, a founding theorist of libertarian economic approaches to law, focused on such affronts to capitalists as environmentalism and public health and welfare, expressing eagerness to dismantle Social Security, Medicaid, and Medicare as well as kill public education because it tended to foster community values. Feminism had to go, too: the scholars considered it a socialist project.

The Oligarchic Revolution Unfolds

Buchanan's ideas began to have huge impact, especially in America and in Britain. In his home country, the economist was deeply involved efforts to cut taxes on the wealthy in 1970s and 1980s and he advised proponents of Reagan Revolution in their quest to unleash markets and posit government as the "problem" rather than the "solution." The Koch-funded Virginia school coached scholars, lawyers, politicians, and business people to apply stark right-wing perspectives on everything from deficits to taxes to school privatization. In Britain, Buchanan's work helped to inspire the public sector reforms of Margaret Thatcher and her political progeny.

To put the success into perspective, MacLean points to the fact that Henry Manne, whom Buchanan was instrumental in hiring, created legal programs for law professors and federal judges which could boast that by 1990 two of every five sitting federal judges had participated. "40 percent of the U.S. federal judiciary," writes MacLean, "had been treated to a Koch-backed curriculum."

MacLean illustrates that in South America, Buchanan was able to first truly set his ideas in motion by helping a bare-knuckles dictatorship ensure the permanence of much of the radical transformation it inflicted on a country that had been a beacon of social progress. The historian emphasizes that Buchanan's role in the disastrous Pinochet government of Chile has been underestimated partly because unlike Milton Friedman, who advertised his activities, Buchanan had the shrewdness to keep his involvement quiet. With his guidance, the military junta deployed public choice economics in the creation of a new constitution, which required balanced budgets and thereby prevented the government from spending to meet public needs. Supermajorities would be required for any changes of substance, leaving the public little recourse to challenge programs like the privatization of social security.

The dictator's human rights abuses and pillage of the country's resources did not seem to bother Buchanan, MacLean argues, so long as the wealthy got their way. "Despotism may be the only organizational alternative to the political structure that we observe," the economist had written in The Limits of Liberty . If you have been wondering about the end result of the Virginia school philosophy, well, the economist helpfully spelled it out.

A World of Slaves

Most Americans haven't seen what's coming.

MacLean notes that when the Kochs' control of the GOP kicked into high gear after the financial crisis of 2007-08, many were so stunned by the "shock-and-awe" tactics of shutting down government, destroying labor unions, and rolling back services that meet citizens' basic necessities that few realized that many leading the charge had been trained in economics at Virginia institutions, especially George Mason University. Wasn't it just a new, particularly vicious wave of partisan politics?

It wasn't. MacLean convincingly illustrates that it was something far more disturbing.

MacLean is not the only scholar to sound the alarm that the country is experiencing a hostile takeover that is well on its way to radically, and perhaps permanently, altering the society. Peter Temin, former head of the MIT economics department, INET grantee, and author of The Vanishing Middle Class , as well as economist Gordon Lafer of the University of Oregon and author of The One Percent Solution , have provided eye-opening analyses of where America is headed and why. MacLean adds another dimension to this dystopian big picture, acquainting us with what has been overlooked in the capitalist right wing's playbook.

She observes, for example, that many liberals have missed the point of strategies like privatization. Efforts to "reform" public education and Social Security are not just about a preference for the private sector over the public sector, she argues. You can wrap your head around, even if you don't agree. Instead, MacLean contents, the goal of these strategies is to radically alter power relations, weakening pro-public forces and enhancing the lobbying power and commitment of the corporations that take over public services and resources, thus advancing the plans to dismantle democracy and make way for a return to oligarchy. The majority will be held captive so that the wealthy can finally be free to do as they please, no matter how destructive.

MacLean argues that despite the rhetoric of Virginia school acolytes, shrinking big government is not really the point. The oligarchs require a government with tremendous new powers so that they can bypass the will of the people. This, as MacLean points out, requires greatly expanding police powers "to control the resultant popular anger." The spreading use of pre-emption by GOP-controlled state legislatures to suppress local progressive victories such as living wage ordinances is another example of the right's aggressive use of state power.

Could these right-wing capitalists allow private companies to fill prisons with helpless citizens -- or, more profitable still, right-less undocumented immigrants? They could, and have . Might they engineer a retirement crisis by moving Americans to inadequate 401(k)s? Done . Take away the rights of consumers and workers to bring grievances to court by making them sign forced arbitration agreements? Check . Gut public education to the point where ordinary people have such bleak prospects that they have no energy to fight back? Getting it done .

Would they even refuse children clean water? Actually, yes.

MacLean notes that in Flint, Michigan, Americans got a taste of what the emerging oligarchy will look like -- it tastes like poisoned water. There, the Koch-funded Mackinac Center pushed for legislation that would allow the governor to take control of communities facing emergency and put unelected managers in charge. In Flint, one such manager switched the city's water supply to a polluted river, but the Mackinac Center's lobbyists ensured that the law was fortified by protections against lawsuits that poisoned inhabitants might bring. Tens of thousands of children were exposed to lead, a substance known to cause serious health problems including brain damage.

Tyler Cowen has provided an economic justification for this kind of brutality, stating that where it is difficult to get clean water, private companies should take over and make people pay for it. "This includes giving them the right to cut off people who don't -- or can't -- pay their bills," the economist explains.

To many this sounds grotesquely inhumane, but it is a way of thinking that has deep roots in America. In Why I, Too, Am Not a Conservative (2005), Buchanan considers the charge of heartlessness made against the kind of classic liberal that he took himself to be. MacLean interprets his discussion to mean that people who "failed to foresee and save money for their future needs" are to be treated, as Buchanan put it, "as subordinate members of the species, akin to animals who are dependent.'"

Do you have your education, health care, and retirement personally funded against all possible exigencies? Then that means you.

Buchanan was not a dystopian novelist. He was a Nobel Laureate whose sinister logic exerts vast influence over America's trajectory. It is no wonder that Cowen, on his popular blog Marginal Revolution, does not mention Buchanan on a list of underrated influential libertarian thinkers, though elsewhere on the blog, he expresses admiration for several of Buchanan's contributions and acknowledges that the southern economist "thought more consistently in terms of 'rules of the games' than perhaps any other economist."

The rules of the game are now clear.

Research like MacLean's provides hope that toxic ideas like Buchanan's may finally begin to face public scrutiny. Yet at this very moment, the Kochs' State Policy Network and the American Legislative Exchange Council (ALEC), a group that connects corporate agents to conservative lawmakers to produce legislation, are involved in projects that the Trump-obsessed media hardly notices, like pumping money into state judicial races. Their aim is to stack the legal deck against Americans in ways that MacLean argues may have even bigger effects than Citizens United, the 2010 Supreme Court ruling which unleashed unlimited corporate spending on American politics. The goal is to create a judiciary that will interpret the Constitution in favor of corporations and the wealthy in ways that Buchanan would have heartily approved.

"The United States is now at one of those historic forks in the road whose outcome will prove as fateful as those of the 1860s, the 1930s, and the 1960s," writes MacLean. "To value liberty for the wealthy minority above all else and enshrine it in the nation's governing rules, as Calhoun and Buchanan both called for and the Koch network is achieving, play by play, is to consent to an oligarchy in all but the outer husk of representative form."

Nobody can say we weren't warned.

[May 30, 2018] How Media Amnesia Has Trapped Us in a Neoliberal Groundhog Day

Highly recommended!
Notable quotes:
"... By Laura Basu, a Marie Curie Research Fellow at Cardiff School of Journalism, Media and Culture. Originally published at openDemocracy ..."
"... This ideology spread through the media from the 1980s ..."
"... Fast-forward to April 2009, barely 6 months after the announcement of a £500 billion bank bailout. A media hysteria was nowraging around Britain's deficit . While greedy bankers were still taking some of the blame, the systemic problems in finance and the problems with the free-market model had been forgotten. Instead, public profligacy had become the dominant explanation for the deficit. The timeline of the crisis was being erased and rewritten. ..."
"... These measures were a ramped-up version of the kinds of reforms that had produced the crisis in the first place. This fact, however, was forgotten. These 'pro-business' moves were enthusiastically embraced by the media, far more so than austerity. Of the 5 outlets analysed (The BBC, Telegraph, Sun, Guardian and Mirror), only the Guardian rejected them more frequently than endorsing them. ..."
"... "One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we've been taken. Once you give a charlatan power over you, you almost never get it back." ..."
"... This post is disheartening in so many ways. Start with "media hysteria" -- adding yet another glib coinage to hide a lack of explanation behind a simple but innapt analogy like the endless "addictions" from which personifications of various abstract entities suffer. ..."
"... This coinage presupposes a media sufficiently free to be possessed by hysteria. Dancing puppets might with some art appear "hysterical". And the strange non-death of Neoliberalsm isn't so strange or poorly understood in 2018 though the detailed explanation hasn't reached as many as one might have hoped, including the authors of this brief post. Consider their unhappy mashup of thoughts in a key sentence of the first paragraph: "This power has been maintained with the help of a robust ideology centred on free markets (though in reality markets are captured by corporations and are maintained by the state) and the superiority of the private sector over the public sector." The tail of this sentence obviates the rest of the post. And we ought not ignore the detail that Neoliberalism believes in the Market as a solution to all problems -- NOT the 'free market' of neoclassical economics or libertarian ideology. ..."
"... From "media hysteria" the post postulates "amnesia" of a public convinced of "greedy bankers" who need regulation. In the U.S. the propaganda was more subtle -- at least in my opinion. We were fed the "bad apples" theory mocked in a brief series of media clips presented in the documentary film "Inside Job". Those clips suggest a better explanation for the swift media transitions from banking reform to balanced budgets and austerity with more tax cuts for the wealthy than "amnesia" or "hyper-amnesia". The media Corporations are tightly controlled by the same forces that captured Corporations and -- taking the phrase "the superiority of the private sector over the public sector" in the sense that a superior directs an inferior [rather than the intended(?) sense] -- direct and essentially own our governments. ..."
"... The remarkable thing about public discourse and political and economic news reporting is how superficial it has become, so devoid of a foundation of any kind in history or theory. You can not have an effective critique of society or the economy or anything, if you do not see a system with a history and think it matters. Neoliberalism has become what people say when they think none of it really matters; it is all just noise. ..."
"... "Neoliberalism has become what people say when they think none of it really matters; it is all just noise." ..."
"... I also think that the crisis of neoliberalism echos a problem caused by capitalism, itself. I think David Harvey stated that "capitalism doesn't solve problems, it often just moves them around". ..."
"... Matt Stoller tweet from August 2017, as germane now as ever: "The political crisis we are facing is simple. American commerce, law, finance, and politics is organized around cheating people." ..."
"... George Orwell noted that the middle class Left couldn't handle dealing with real working class people, although there isn't the same huge gulf these days, I believe there is still a vestige of it due to the British class system. The Fabians set up shop in the East End around the turn of the last century & directly rubbed shoulders with the likes of Coster Mongers – a combination that led to a strike that was one of the first success stories in the attempt to get a few more crumbs than what was usually allowed to fall from the top table. ..."
"... If Neoliberalism is now being noticed I imagine that it is because of it's success in working it's way up the food chain. After all these same Middle classes for the most part did not care much for the plight of the poor during those Victorian values. Many could not wait to employ maids of all work who slaved for up to fourteen hours a day with only Sunday afternoon's off. The Suffragettes had a real problem with this as their relatively comfortable lives would soon descend into drudgery without their servants. ..."
"... Coincidentally, the NYT article on Austerity Britain is the closest I have read to an accurate picture that I have seen for a good while. ..."
"... It's also not a new thing. British media worship of neoliberalism has been growing since the 1980s, at the same time as newspapers have been closing and media sources of all kinds laying off their staff. 2008 was a temporary blip, and since the average journalist has the attention span of a hamster, it was back to usual a few months later. Once the crash stopped being "news" old patterns reasserted themselves. I wonder, incidentally, how many economics journalists in the UK actually remember the time before neoliberalism? ..."
"... Consuming corporate media is increasingly a bizarro-world experience. Even something like the Trump scandal/constitutional crisis/investigation seems like the arrogant internecine warfare of corrupt factions of the establishment. Meanwhile, Americans are increasingly living out of their cars. ..."
"... 1. Oligarchs having captured thoroughly the media, the legislatures and the judiciary, (as well as large parts of what might be construed as "liberal" political organisations e.g. the Democratic Party of the USA) ..."
May 30, 2018 | www.nakedcapitalism.com

Posted on May 29, 2018 by Yves Smith Yves here. I'm sure readers could write a US version of this timeline despite the fact that we had a second crisis and bailout, that of way more foreclosures than were warranted, thanks to lousy incentives to mortgage servicers and lack of political will to intervene, and foreclosure fraud to cover up for chain of title failures.

By Laura Basu, a Marie Curie Research Fellow at Cardiff School of Journalism, Media and Culture. Originally published at openDemocracy

It hasn't escaped many people's attention that, a decade after the biggest economic crash of a generation, the economic model producing that meltdown has not exactly been laid to rest. The crisis in the NHS and the Carillion and Capital scandals are testament to that. Sociologist Colin Crouch wrote a book in 2011 about the 'strange non-death of neoliberalism', arguing that the neoliberal model is centred on the needs of corporations and that corporate power actually intensified after the 2008 financial meltdown. This power has been maintained with the help of a robust ideology centred on free markets (though in reality markets are captured by corporations and are maintained by the state) and the superiority of the private sector over the public sector. It advocates privatisation, cuts in public spending, deregulation and tax cuts for businesses and high earners.

This ideology spread through the media from the 1980s , and the media have continued to play a key role in its persistence through a decade of political and economic turmoil since the 2008 crash. They have done this largely via an acute amnesia about the causes of the crisis, an amnesia that helped make policies like austerity, privatisation and corporate tax breaks appear as common sense responses to the problems.

This amnesia struck at dizzying speed. My research carried out at Cardiff University shows that in 2008 at the time of the banking collapse, the main explanations given for the problems were financial misconduct ('greedy bankers'), systemic problems with the financial sector, and the faulty free-market model. These explanations were given across the media spectrum, with even the Telegraph and Sun complaining about a lack of regulation . Banking reform was advocated across the board.

Fast-forward to April 2009, barely 6 months after the announcement of a £500 billion bank bailout. A media hysteria was nowraging around Britain's deficit . While greedy bankers were still taking some of the blame, the systemic problems in finance and the problems with the free-market model had been forgotten. Instead, public profligacy had become the dominant explanation for the deficit. The timeline of the crisis was being erased and rewritten.

Correspondingly, financial and corporate regulation were forgotten. Instead, austerity became the star of the show, eclipsing all other possible solutions to the crisis. As a response to the deficit, austerity was mentioned 2.5 as many times as the next most covered policy-response option, which was raising taxes on the wealthy. Austerity was mentioned 18 times more frequently than tackling tax avoidance and evasion. Although coverage of austerity was polarized, no media outlet rejected it outright, and even the left-leaning press implicitly (and sometimes explicitly) backed 'austerity lite'.

In 2010, the Conservative-Lib Dem government announced £99 billion in spending cuts and £29 billion in tax increases per year by 2014-15. Having made these 'tough choices', from 2011 the coalition wanted to focus attention away from austerity and towards growth (which was, oops, being stalled by austerity). To do this, they pursued a zealously 'pro-business' agenda, including privatisation, deregulation, cutting taxes for the highest earners, and cutting corporation tax in 2011, 2012, 2013, and in 2015 and 2016 under a Conservative government.

These measures were a ramped-up version of the kinds of reforms that had produced the crisis in the first place. This fact, however, was forgotten. These 'pro-business' moves were enthusiastically embraced by the media, far more so than austerity. Of the 5 outlets analysed (The BBC, Telegraph, Sun, Guardian and Mirror), only the Guardian rejected them more frequently than endorsing them.

The idea behind these policies is that what's good for business is good for everyone. If businesses are handed more resources, freed from regulation and handed tax breaks, they will be encouraged to invest in the economy, creating jobs and growth. The rich are therefore 'job creators' and 'wealth creators'.

This is despite the fact that these policies have an impressive fail rate. Business investment and productivity growth remain low, as corporations spend the savings not on training and innovation but on share buy-backs and shareholder dividends. According to the Financial Times, in 2014, the top 500 US companies returned 95 per cent of their profits to shareholders in dividends and buybacks. Meanwhile, inequality is spiralling and in the UK more than a million people are using food banks .

Poverty and inequality, meanwhile, attracted surprising little media attention. Of my sample of 1,133 media items, only 53 had a primary focus on living standards, poverty or inequality. This confirms other researchshowing a lack of media attention to these issues . Of these 53 items, the large majority were from the Guardian and Mirror. The coverage correctly identified austerity as a primary cause of these problems. However, deeper explanations were rare. Yet again, the link back to the 2008 bank meltdown wasn't made, let alone the long-term causes of that meltdown. Not only that, the coverage failed even to identify the role of most of the policies pursued since the onset of the crisis in producing inequality – such as the bank bailouts, quantitative easing, and those 'pro-business' measures like corporation tax cuts and privatisation.

And so it seems we are living with a hyper-amnesia , in which it is increasingly difficult to reconstruct timelines and distinguish causes from effects. This amnesia has helped trap us in a neoliberal groundhog day. The political consensus around the free market model finally seems to be breaking. If we are to find a way out, we will need to have a lot more conversations about how to organise both our media systems and our economies.


Summer , May 29, 2018 at 10:31 am

Tick-Tock.
It depends. Do you believe the worst can be avoided or do you believe the world is already knee deep in all the things we're told to be afraid will happen? There is a big difference between organizing for reform and organizing to break capture.

makedoanmend , May 29, 2018 at 10:42 am

" Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

Surely some revelation is at hand;
Surely the Second Coming is at hand "

W.B. Yeats

I suppose we can take some succour from the fact that WWI (and the Spanish flu) seemed to be a harbinger of worse to come but we're still here

Doug , May 29, 2018 at 11:21 am

The hyper-amnesia ground hog problem described in the post happens, in part, because the 'centre continues to hold'. It demonstrates the center can, and does, hold. We don't want the centre to hold. We want it to disappear and get replaced by policies and perspectives keen on an economy (and society) that works for all, not just some

makedoanmend , May 29, 2018 at 11:33 am

I know what you're saying and I tend to agree. But the centre to Yeats (my interpretation, anyway) is that there is a cultural centre both apart from but also part of the social centre, and when that centre goes all hell breaks loose. Meaning of events becomes very confused or impossible to understand on many levels.

Then, it's often the little people (and don't go making jokes about leprechauns) that get crushed in the confusion.

Pam of Nantucket , May 29, 2018 at 10:32 am

We should reflect about the root causes of why our information is not informing us. How can decades go by with the meme "smoking has not been conclusively proven to cause cancer" or now "the science of climate change is inconclusive", not to mention countless similar horror stories in pharma. Bullshit about the effectiveness of supply side economics is no different.

Somehow we collectively need to expect and demand more objectivity from our information sources. We fall for the fox guarding hen houses scam over and over, from TARP bailouts, to FDA approvals to WMD claims. Not sure of the answer, but I know from talking with my boomer parents, skepticism about information sources is not in the DNA of many information consumers.

Isotope_C14 , May 29, 2018 at 11:52 am

"One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we've been taken. Once you give a charlatan power over you, you almost never get it back."

― Carl Sagan, The Demon-Haunted World: Science as a Candle in the Dark

One of Sagan's best, I loaned this out to a not terribly thoughtful acquaintance and I was told it was "too preachy".

I guess Sagan proves himself correct time and time again.

Off The Street , May 29, 2018 at 2:56 pm

Bamboozlers often look to bezzle. That should give anyone pause.

steelhead23 , May 29, 2018 at 12:43 pm

It is also worth noting that a number of newspapers lauded Hitler's rise to power – they overlooked violence against Jews because the trains ran on time. Nor should we ignore disinformation campaigns, led by newspapers (e.g. Hearst and cannabis). In general, each media outlet is a reflection of its owners, most of whom are rich and adverse to any suggestion that we "tax the rich."

sharonsj , May 29, 2018 at 1:59 pm

I've come to the conclusion that we don't have a media anymore. I was watching MSNBC this AM discuss the "missing" 1500 immigrant children. The agency responsible says it calls the people who now have the kids, but most of the people don't call back within the 30-day requirement period.

Now the next logical questions to ask the rep would be: What happens after 30 days? Do you keep calling them? Do send out investigators?" But are these questions asked? No. Instead we get speculation or non-answers. It's the same with every issue.

The internet is not any better. Many articles are just repeating what appears elsewhere with no one checking the facts, even on respected sites. I also got a chain email today regarding petition for a Constitutional Convention. The impetus is a list of grievances ranging from "a congressman can retire after just one term with a full pension" to "children of congressmen don't have to pay back college loans." I already knew most of the claims weren't true but the 131 recipients of the organization I belong to didn't. I did find out that this chain email has been circulating on the internet for five years and it is the work of a conservative groups whose real aim is to stop abortion and make Christianity the law of the land. I was not surprised.

I have said for years that there is no news on the news. And I have repeated this meme for just as long: There is a reason why America is called Planet Stupid.

lewis e , May 29, 2018 at 2:43 pm

On the 1500

https://twitter.com/jduffyrice/status/1000927903759110144

JBird , May 29, 2018 at 3:38 pm

Now the next logical questions to ask the rep would be: What happens after 30 days? Do you keep calling them? Do send out investigators?" But are these questions asked? No. Instead we get speculation or non-answers. It's the same with every issue.

Even competent reporting takes practice, time, and effort, even money sometimes. The same with even half way competent governing. Neither is rewarded, and are often punished, for doing nowadays; asking as a follow-up question "did you call the local police or send over a pair of ICE officers just to politely knock on the door?" Police do people checks all the time. "I haven't see so and so for a week", or "my relative hasn't returned my calls for a month, can you?" It is possible that the paperwork just got lost and asking the guardians/family some questions personally would solve.

But all that is boring bovine excrement, which is just not done.

Jeremy Grimm , May 29, 2018 at 2:41 pm

This post is disheartening in so many ways. Start with "media hysteria" -- adding yet another glib coinage to hide a lack of explanation behind a simple but innapt analogy like the endless "addictions" from which personifications of various abstract entities suffer.

This coinage presupposes a media sufficiently free to be possessed by hysteria. Dancing puppets might with some art appear "hysterical". And the strange non-death of Neoliberalsm isn't so strange or poorly understood in 2018 though the detailed explanation hasn't reached as many as one might have hoped, including the authors of this brief post. Consider their unhappy mashup of thoughts in a key sentence of the first paragraph: "This power has been maintained with the help of a robust ideology centred on free markets (though in reality markets are captured by corporations and are maintained by the state) and the superiority of the private sector over the public sector." The tail of this sentence obviates the rest of the post. And we ought not ignore the detail that Neoliberalism believes in the Market as a solution to all problems -- NOT the 'free market' of neoclassical economics or libertarian ideology.

From "media hysteria" the post postulates "amnesia" of a public convinced of "greedy bankers" who need regulation. In the U.S. the propaganda was more subtle -- at least in my opinion. We were fed the "bad apples" theory mocked in a brief series of media clips presented in the documentary film "Inside Job". Those clips suggest a better explanation for the swift media transitions from banking reform to balanced budgets and austerity with more tax cuts for the wealthy than "amnesia" or "hyper-amnesia". The media Corporations are tightly controlled by the same forces that captured Corporations and -- taking the phrase "the superiority of the private sector over the public sector" in the sense that a superior directs an inferior [rather than the intended(?) sense] -- direct and essentially own our governments.

orangecats , May 29, 2018 at 10:09 pm

"skepticism about information sources is not in the DNA of many information consumers"

This.

bruce wilder , May 29, 2018 at 11:37 am

The essayist complains that poverty and the manifest failures of neoliberalism get little critical attention, but she leads off, "It hasn't escaped many people's attention . . ."

The remarkable thing about public discourse and political and economic news reporting is how superficial it has become, so devoid of a foundation of any kind in history or theory. You can not have an effective critique of society or the economy or anything, if you do not see a system with a history and think it matters. Neoliberalism has become what people say when they think none of it really matters; it is all just noise.

Summer , May 29, 2018 at 4:48 pm

"Neoliberalism has become what people say when they think none of it really matters; it is all just noise."

There is a connection there with movies like Deadpool 2.

JohnnyGL , May 29, 2018 at 1:35 pm

Another thing to recall was how quickly talk of nationalizing banks evaporated. Even Paul Krugman, among others were supporting the idea that "real capitalists nationalize".

Once LIBOR came down, and the lending channels began to reopen, the happy talk ensued and the amnesia kicked in strongly.

I also think that the crisis of neoliberalism echos a problem caused by capitalism, itself. I think David Harvey stated that "capitalism doesn't solve problems, it often just moves them around".

The financial crisis and austerity have now manifested themselves into a media crisis of elites and elite legitimacy (BREXIT, Trump's election, etc). The ability to manufacture consent is running into increased difficulty. I don't think the financial crisis narrative shift helped very much at all. A massive crime requires an equally massive cover-up, naturally.

WheresOurTeddy , May 29, 2018 at 1:41 pm

Why, it's almost as if 90% of all media outlets are owned by 5 multibillion dollar conglomerates, controlled by the top 0.1%, for the purposes of protecting their unearned parasitic power, and the employees making six-to-low-seven figures are on the Upton Sinclair "paycheck demands I not understand it" model.

Or it's amnesia.

Matt Stoller tweet from August 2017, as germane now as ever: "The political crisis we are facing is simple. American commerce, law, finance, and politics is organized around cheating people."

maria gostrey , May 29, 2018 at 2:13 pm

this is why frank sobotka got my vote in the 2016 election:

https://m.youtube.com/watch?v=T-j5XWo1fPI#

KLG , May 29, 2018 at 9:56 pm

A big thumbs up for that! Sobotka was a hero in very dark times.

As my brother-in-law puts it: The American Dream used to be "work hard in a useful job, raise a family of citizens, retire with dignity, and hand the controls to the next generation." Now? It's just "Win the lottery."

Problem is, "The Lottery" is right out of Shirley Jackson.

hemeantwell , May 29, 2018 at 3:12 pm

Or it's amnesia.

Agreed. The author is inclined to interpret at the level of cumulative effect -- apparent forgetting -- and to ignore how fear -- of editors, of owners -- plays any role. Her proposed unveiling of a coercive process becomes yet another veiling of it.

precariat , May 29, 2018 at 3:16 pm

There is not a writer or thinker I agree with more than Matt Stoller.

Avalon Sparks , May 29, 2018 at 5:33 pm

He's one I agree with too. His writings on monopoly activity are excellent.

Pamela More , May 29, 2018 at 9:57 pm

This.

It's a feature, not a bug.

Alex morfesis , May 29, 2018 at 1:54 pm

Sadly the narrative of details is lost to history The German landesbanks who had guaranteed payments in loan pools in the USA were allowed to skirt thru crash and burn by the agencies (moody s&p and your little fitch too) fake and shake ratings process But all things German are magical Having lived thru NYC Mac Corp effective bankruptcy of man hat tan..

it was amusing watching the hand wave given when the city of Berlin actually defaulted .

Ah reality I remember it welll

Eustache De Saint Pierre , May 29, 2018 at 2:23 pm

My own view for what it is worth is that the Guardian pays some lip service to the plight of the UK's " Deplorables ", but like most of it's readership does not really give a damn. A state of being exacerbated by Brexit similar to the situation in the US with Trump. It's much easier to imagine hordes of racist morons who inhabit places that you have no direct experience of, than to actually go & take a look. It's also very easy to be in favour of mass immigration if it does not effect your employment, housing & never likely to spoil your early morning dawn chorus with a call to prayer.

Unfortunately it has been left to the Right to complain about such things as the Rotherham abuse scandal, which involved a couple of thousand young girls, who I suspect are worth less to some than perhaps being mistaken as a racist. There are also various groups made up of Muslim women who protest about Sharia councils behaviour to their sex, but nobody in the media is at all interested.

George Orwell noted that the middle class Left couldn't handle dealing with real working class people, although there isn't the same huge gulf these days, I believe there is still a vestige of it due to the British class system. The Fabians set up shop in the East End around the turn of the last century & directly rubbed shoulders with the likes of Coster Mongers – a combination that led to a strike that was one of the first success stories in the attempt to get a few more crumbs than what was usually allowed to fall from the top table.

As for Mirror readers, I suspect that the majority are either the voiceless or are too busy fighting to avoid the fate of those who find themselves availing of food banks, while being labelled as lazy scroungers all having expensive holidays, twenty kids, about thirty grand a year, while being subjected to a now updated more vicious regime of that which was illustrated by " I, Daniel Blake ".

If Neoliberalism is now being noticed I imagine that it is because of it's success in working it's way up the food chain. After all these same Middle classes for the most part did not care much for the plight of the poor during those Victorian values. Many could not wait to employ maids of all work who slaved for up to fourteen hours a day with only Sunday afternoon's off. The Suffragettes had a real problem with this as their relatively comfortable lives would soon descend into drudgery without their servants.

Coincidentally, the NYT article on Austerity Britain is the closest I have read to an accurate picture that I have seen for a good while.

David , May 29, 2018 at 2:39 pm

It's also not a new thing. British media worship of neoliberalism has been growing since the 1980s, at the same time as newspapers have been closing and media sources of all kinds laying off their staff. 2008 was a temporary blip, and since the average journalist has the attention span of a hamster, it was back to usual a few months later. Once the crash stopped being "news" old patterns reasserted themselves. I wonder, incidentally, how many economics journalists in the UK actually remember the time before neoliberalism?

precariat , May 29, 2018 at 2:54 pm

"And so it seems we are living with a hyper-amnesia"

Consuming corporate media is increasingly a bizarro-world experience. Even something like the Trump scandal/constitutional crisis/investigation seems like the arrogant internecine warfare of corrupt factions of the establishment. Meanwhile, Americans are increasingly living out of their cars.

The corporate media forgets the causes of the worst economic crisis since the Depression, and it put Trump in a position to be elected. Trump was the Republican nominee because he was relentlessly promoted by the media -- because ratings, because neoliberal rigged markets.

Break up the media monopolies, roll back Citizens United, enforce the fairness doctrine.

Pamela More , May 29, 2018 at 9:55 pm

Agree.

Slight edit

" Consuming corporate media is increasingly a bizarro-world experience the Trump scandal/constitutional crisis/investigation is nothing other than internecine warfare between corrupt factions of the establishment."

JBird , May 29, 2018 at 3:24 pm

I think there are several issues here for Americans, which can partially be applied to the Europeans.

First, the American nation as whole only has short term memory. It is our curse.

Second, those with the money spend a lot of money, time and effort the late 19th century covering up, massaging, or sometimes just creating lies about the past. American and British businesses, governments, and even private organizations are masters at advertising and propaganda. Perhaps the best on Earth.

Third, the people and the institutions that would counter this somewhat, independent unions, multiple independent media, tenured professors at functioning schools, even non-neoliberalized churches, and social organizations like bowling, crocheting, or heck, the Masons would all maintain a separate continuing body of memory and knowledge.

Lastly, we are all freaking terrified somewhere inside us. Those relative few who are not are fools, and most people, whatever their faults, truly are not fools. Even if they act like one. Whatever your beliefs, position, or knowledge, the knowing of the oncoming storm is in you. Money or poverty may not save you. The current set of lies, while they are lies, gives everyone a comfortable known position of supporting or opposing in the same old, same old while avoiding thinking about whatever catastrophe(s) and radical changes we all know are coming. The lies are more relaxing than the truth.

Even if you are one of society's homeless losers, who would welcome some changes, would you be comfortable thinking about just how likely it is to be very traumatic? Hiding behind begging for change might be more comfortable.

precariat , May 29, 2018 at 4:25 pm

"Even if you are one of society's homeless losers, who would welcome some changes, would you be comfortable thinking about just how likely it is to be very traumatic? Hiding behind begging for change might be more comfortable."

On the contrary, the upheaval the "losers" have been subjected to will be turned around and used as a just cause for rectification. Trumatic consequences can be unpredictable and this is why society should have socio-economic checks and balances to prevent an economic system running amok. Commonsense that necessitates amnesia for neoliberalism to seem viable.

Peter Phillips , May 29, 2018 at 4:54 pm

Facing the current scenario in which we have:

1. Oligarchs having captured thoroughly the media, the legislatures and the judiciary, (as well as large parts of what might be construed as "liberal" political organisations e.g. the Democratic Party of the USA)

2. the seemingly inexorable trend to wealth concentration in the hands of said oligarchs

..one asks oneself.."What is one to do?"

My own response, (and I acknowledge straight off its limited impact), is to do the following:

1. support financially in the limited ways possible media channels such as Naked Capitalism that do their level best to debunk the lies and deceptions perpetrated by the oligarchs

2. support financially social organisations and structures that are genuinely citizen based and focused on a sustainable future for all

3. Do very very limited monitoring of the oligarch's "lies and deceptions" (one needs to understand one's enemies to have a chance to counter them) and try on a personal level, in one's day to day interactions, to present counter arguments

We cannot throw in the towel. We must direct our limited financial resources and personal efforts to constructive change, as, for the 99%..there are no "bunker" to run to when the "proverbial" hits the fan..as it must in the fullness of time.

Spring Texan , May 29, 2018 at 8:21 pm

Yep. One has to go ahead and do what one can. It all makes a difference. Thanks for your strategy, Peter Phillips. Limited impact is not no impact, and we don't have the luxury of despairing because there is only a bit we can do.

sgt_doom , May 29, 2018 at 8:10 pm

Yet this has been going on forever – – this past Sunday, for the first time I recall, I finally heard an accurate Real News story filed on the Bobby Kennedy assassination (50th anniversary coming this June 6, 2018) by the BBC World Service.
They actually noted that there were multiple shooters, that Sen. Kennedy was shot from behind, not the front where Sirhan was located, etc., etc.
I guess we do occasionally witness Real News – – – just that it takes 50 years or so to be reported . . .

[May 20, 2018] "Free markets" as a smoke screen for parasitizing riches to implement their agenda via, paradoxically, state intervention

Highly recommended!
May 20, 2018 | www.nakedcapitalism.com

bruce wilder , May 18, 2018 at 4:45 pm

In reply to several commenters, who have questioned why "neoliberalism" is not simply another name for the political expression/ambitions of the greed of the rich-and-powerful, aka conservatism.

Although it serves the purposes of the rich-and-powerful rather well, I think "neoliberalism" as a rhetorical engine and set of ideas is the ideology of the 9.9%, the chattering classes of professionals and bureaucrats who need a cover story for their own participation in running the world for the benefit of the 0.1% These are the people who need to rationalize what they do and cooperate and coordinate among themselves and that's a challenge because of their sheer numbers.

If you try to examine neoliberalism as a set of aims or values or interests, I think you miss the great accomplishment of neoliberalism as a mechanism of social cooperation. Neoliberalism says it aims at freedom and social welfare and innovation and other good things. If neoliberalism said it aimed to make the richest 0.1% richer at the expense of everyone else, it would provoke political opposition from the 99% for obvious reasons. Including opposition from the 9.9% whom they need to run things, to run the state, run the corporations.

Not being clear on what your true objectives are tends to be an obstacle to organizing large groups to accomplish those objectives. Being clear on the mission objective is a prerequisite for organizational effectiveness in most circumstances. The genius of neoliberalism is such that it is able to achieve a high degree of coordination in detail across large numbers of people, institutions, even countries while still professing aims and values to which few object. A high degree of coordination on implementing a political policy agenda that is variously parasitical or predatory on the 90%.

You can say this is just hypocrisy of a type the rich have always engaged in, and that would be true. The predatory rich have always had to disguise their predatory or parasitical activity, and have often done so by embracing, for example, shows of piety or philanthropy. So, neoliberalism falls into a familiar albeit broad category.

What distinguishes neoliberalism is how good it is at coordinating the activities of the 9.9% in delivering the goods for the 0.1%. For a post-industrial economy, neoliberalism is better for the mega-rich than Catholicism was for the feudalism of the High Middle Ages. I do not think most practicing neoliberals among the 9.9% even think of themselves as hypocrites.

"Free markets" has been the key move, the fulcrum where anodyne aims and values to which no one can object meet the actual detailed policy implementation by the state. Creating a "market" removes power and authority from the state and transfers it to private actors able to apply financial wealth to managing things, and then, because an actual market cannot really do the job that's been assigned, a state bureaucracy has to be created to manage the administrative details and financial flows -- work for the 9.9%

As a special bonus, the insistence on treating a political economy organized in fact by large public and private bureaucracies as if it is organized by and around "markets" introduces a high degree of economic agnatology into the conventional political rhetoric.

[This comment sounded much clearer when I conceived of it in the shower this morning. I am sorry if the actual comment is too abstract or tone deaf. I will probably have to try again at a later date.]

[May 09, 2018] Trotskyist Delusions, by Diana Johnstone

Highly recommended!
Notable quotes:
"... There could be no eye witnesses to such sadism, and the very extremism sounds very much like war propaganda – Germans carving up Belgian babies. ..."
"... The notion that Assad himself infected the rebellion with Islamic fanaticism is at best a hypothesis concerning not facts but intentions, which are invisible. But it is presented as unchallengeable evidence of Assad's perverse wickedness. ..."
"... a beleaguered state very much at the mercy of a rapacious Western imperialism that was seeking to carve the country up according to the appetites of the US government and the International Monetary Fund ..."
"... In reality, a much more pertinent "framing" of Western intervention, taboo in the mainstream and even in Moscow, is that Western support for armed rebels in Syria was being carried out to help Israel destroy its regional enemies. ..."
"... The Middle East nations attacked by the West – Iraq, Libya and Syria – all just happen to be, or to have been, the last strongholds of secular Arab nationalism and support for Palestinian rights. ..."
"... There are a few alternative hypotheses as to Western motives – oil pipelines, imperialist atavism, desire to arouse Islamic extremism in order to weaken Russia (the Brzezinski gambit) – but none are as coherent as the organic alliance between Israel and the United States, and its NATO sidekicks. ..."
"... No other mention of Israel, which occupies Syrian territory (the Golan Heights) and bombs Syria whenever it wants to. ..."
"... The Trotskyists keep yearning for a new revolution, just like the Bolshevik revolution. Yes, but the Bolshevik revolution ended in Stalinism. Doesn't that tell them something? Isn't it quite possible that their much-desired "revolution" might turn out just as badly in Syria, if not much worse? ..."
"... In our era, the most successful revolutions have been in Third World countries, where national liberation from Western powers was a powerful emotional engine. Successful revolutions have a program that unifies people and leaders who personify the aspirations of broad sectors of the population. Socialism or communism was above all a rallying cry meaning independence and "modernization" – which is indeed what the Bolshevik revolution turned out to be. ..."
"... "In the context of a global neoliberalism, where governments across the board were enacting the most pronounced forms of deregulation and overseeing the carving up of state industries by private capital, the Assad government responded to the heightening contradictions in the Syrian economy by following suit -- by showing the ability to march to the tempo of foreign investment while evincing a willingness to cut subsidies for workers and farmers." The neoliberal turn impoverished people in the countryside, therefore creating a situation that justified "revolution". ..."
"... This is rather amazing, if one thinks about it. Without the alternative Soviet bloc, virtually the whole world has been obliged to conform to anti-social neoliberal policies. Syria included. Does this make Bashar al Assad so much more a villain than every other leader conforming to U.S.-led globalization? ..."
"... One could turn that around. Shouldn't such a Marxist revolutionary be saying: "if we can't defeat the oligarchs in the West, who are responsible for the neoliberal policies imposed on the rest of the world, how can we possibly begin to provide class-struggle leadership in Syria?" ..."
"... The trouble with Trotskyists is that they are always "supporting" other people's more or less imaginary revolutions. They are always telling others what to do. They know it all. The practical result of this verbal agitation is simply to align this brand of Trotskyism with U.S imperialism. The obsession with permanent revolution ends up providing an ideological alibi for permanent war. ..."
May 05, 2018 | www.unz.com

I first encountered Trotskyists in Minnesota half a century ago during the movement against the Vietnam War. I appreciated their skill in organizing anti-war demonstrations and their courage in daring to call themselves "communists" in the United States of America – a profession of faith that did not groom them for the successful careers enjoyed by their intellectual counterparts in France. So I started my political activism with sympathy toward the movement. In those days it was in clear opposition to U.S. imperialism, but that has changed.

The first thing one learns about Trotskyism is that it is split into rival tendencies. Some remain consistent critics of imperialist war, notably those who write for the World Socialist Web Site (WSWS).

Others, however, have translated the Trotskyist slogan of "permanent revolution" into the hope that every minority uprising in the world must be a sign of the long awaited world revolution – especially those that catch the approving eye of mainstream media. More often than deploring U.S. intervention, they join in reproaching Washington for not intervening sooner on behalf of the alleged revolution.

A recent article in the International Socialist Review (issue #108, March 1, 2018) entitled "Revolution and counterrevolution in Syria" indicates so thoroughly how Trotskyism goes wrong that it is worthy of a critique. Since the author, Tony McKenna, writes well and with evident conviction, this is a strong not a weak example of the Trotskyist mindset.

McKenna starts out with a passionate denunciation of the regime of Bashar al Assad, which, he says, responded to a group of children who simply wrote some graffiti on a wall by "beating them, burning them, pulling their fingernails out". The source of this grisly information is not given. There could be no eye witnesses to such sadism, and the very extremism sounds very much like war propaganda – Germans carving up Belgian babies.

But this raises the issue of sources. It is certain that there are many sources of accusations against the Assad regime, on which McKenna liberally draws, indicating that he is writing not from personal observation, any more than I am. Clearly, he is strongly disposed to believe the worst, and even to embroider it somewhat. He accepts and develops without the shadow of a doubt the theory that Assad himself is responsible for spoiling the good revolution by releasing Islamic prisoners who went on to poison it with their extremism. The notion that Assad himself infected the rebellion with Islamic fanaticism is at best a hypothesis concerning not facts but intentions, which are invisible. But it is presented as unchallengeable evidence of Assad's perverse wickedness.

This interpretation of events happens to dovetail neatly with the current Western doctrine on Syria, so that it is impossible to tell them apart. In both versions, the West is no more than a passive onlooker, whereas Assad enjoys the backing of Iran and Russia.

"Much has been made of Western imperial support for the rebels in the early years of the revolution. This has, in fact, been an ideological lynchpin of first the Iranian and then the Russian military interventions as they took the side of the Assad government. Such interventions were framed in the spirit of anticolonial rhetoric in which Iran and Russia purported to come to the aid of a beleaguered state very much at the mercy of a rapacious Western imperialism that was seeking to carve the country up according to the appetites of the US government and the International Monetary Fund ", according to McKenna.

Whose "ideological lynchpin"? Not that of Russia, certainly, whose line in the early stages of its intervention was not to denounce Western imperialism but to appeal to the West and especially to the United States to join in the fight against Islamic extremism.

Neither Russia nor Iran "framed their interventions in the spirit of anticolonial rhetoric" but in terms of the fight against Islamic extremism with Wahhabi roots.

In reality, a much more pertinent "framing" of Western intervention, taboo in the mainstream and even in Moscow, is that Western support for armed rebels in Syria was being carried out to help Israel destroy its regional enemies.

The Middle East nations attacked by the West – Iraq, Libya and Syria – all just happen to be, or to have been, the last strongholds of secular Arab nationalism and support for Palestinian rights.

There are a few alternative hypotheses as to Western motives – oil pipelines, imperialist atavism, desire to arouse Islamic extremism in order to weaken Russia (the Brzezinski gambit) – but none are as coherent as the organic alliance between Israel and the United States, and its NATO sidekicks.

It is remarkable that McKenna's long article (some 12 thousand words) about the war in Syria mentions Israel only once (aside from a footnote citing Israeli national news as a source). And this mention actually equates Israelis and Palestinians as co-victims of Assad propaganda: the Syrian government "used the mass media to slander the protestors, to present the revolution as the chaos orchestrated by subversive international interests (the Israelis and the Palestinians were both implicated in the role of foreign infiltrators)."

No other mention of Israel, which occupies Syrian territory (the Golan Heights) and bombs Syria whenever it wants to.

Only one, innocuous mention of Israel! But this article by a Trotskyist mentions Stalin, Stalinists, Stalinism no less than twenty-two times !

And what about Saudi Arabia, Israel's de facto ally in the effort to destroy Syria in order to weaken Iran? Two mentions, both implicitly denying that notorious fact. The only negative mention is blaming the Saudi family enterprise for investing billions in the Syrian economy in its neoliberal phase. But far from blaming Saudi Arabia for supporting Islamic groups, McKenna portrays the House of Saud as a victim of ISIS hostility.

Clearly, the Trotskyist delusion is to see the Russian Revolution everywhere, forever being repressed by a new Stalin. Assad is likened to Stalin several times.

This article is more about the Trotskyist case against Stalin than it is about Syria.

This repetitive obsession does not lead to a clear grasp of events which are not the Russian revolution. And even on this pet subject, something is wrong.

The Trotskyists keep yearning for a new revolution, just like the Bolshevik revolution. Yes, but the Bolshevik revolution ended in Stalinism. Doesn't that tell them something? Isn't it quite possible that their much-desired "revolution" might turn out just as badly in Syria, if not much worse?

Throughout history, revolts, uprisings, rebellions happen all the time, and usually end in repression. Revolution is very rare. It is more a myth than a reality, especially as Trotskyists tend to imagine it: the people all rising up in one great general strike, chasing their oppressors from power and instituting people's democracy. Has this ever happened?

For the Trotskyists, this seem to be the natural way things should happen and is stopped only by bad guys who spoil it out of meanness.

In our era, the most successful revolutions have been in Third World countries, where national liberation from Western powers was a powerful emotional engine. Successful revolutions have a program that unifies people and leaders who personify the aspirations of broad sectors of the population. Socialism or communism was above all a rallying cry meaning independence and "modernization" – which is indeed what the Bolshevik revolution turned out to be. If the Bolshevik revolution turned Stalinist, maybe it was in part because a strong repressive leader was the only way to save "the revolution" from its internal and external enemies. There is no evidence that, had he defeated Stalin, Trotsky would have been more tender-hearted.

Countries that are deeply divided ideologically and ethnically, such as Syria, are not likely to be "modernized" without a strong rule.

McKenna acknowledges that the beginning of the Assad regime somewhat redeemed its repressive nature by modernization and social reforms. This modernization benefited from Russian aid and trade, which was lost when the Soviet Union collapsed. Yes, there was a Soviet bloc which despite its failure to carry out world revolution as Trotsky advocated, did support the progressive development of newly independent countries.

If Bashar's father Hafez al Assad had some revolutionary legitimacy in McKenna's eyes, there is no excuse for Bashar.

"In the context of a global neoliberalism, where governments across the board were enacting the most pronounced forms of deregulation and overseeing the carving up of state industries by private capital, the Assad government responded to the heightening contradictions in the Syrian economy by following suit -- by showing the ability to march to the tempo of foreign investment while evincing a willingness to cut subsidies for workers and farmers." The neoliberal turn impoverished people in the countryside, therefore creating a situation that justified "revolution".

This is rather amazing, if one thinks about it. Without the alternative Soviet bloc, virtually the whole world has been obliged to conform to anti-social neoliberal policies. Syria included. Does this make Bashar al Assad so much more a villain than every other leader conforming to U.S.-led globalization?

McKenna concludes by quoting Louis Proyect: "If we line up on the wrong side of the barricades in a struggle between the rural poor and oligarchs in Syria, how can we possibly begin to provide a class-struggle leadership in the USA, Britain, or any other advanced capitalist country?"

One could turn that around. Shouldn't such a Marxist revolutionary be saying: "if we can't defeat the oligarchs in the West, who are responsible for the neoliberal policies imposed on the rest of the world, how can we possibly begin to provide class-struggle leadership in Syria?"

The trouble with Trotskyists is that they are always "supporting" other people's more or less imaginary revolutions. They are always telling others what to do. They know it all. The practical result of this verbal agitation is simply to align this brand of Trotskyism with U.S imperialism. The obsession with permanent revolution ends up providing an ideological alibi for permanent war.

For the sake of world peace and progress, both the United States and its inadvertent Trotskyist apologists should go home and mind their own business.

[Apr 27, 2018] Chomsky joined Vichy left on Syria

Apr 27, 2018 | www.moonofalabama.org

Tobin Paz | Apr 26, 2018 5:37:44 PM | 40

Wow, Syria is going to wipeout the majority of the "Left":

Chomsky Among "Progressives" Calling for US Military Involvement in Syria

Since most progressive figures would never publicly call for extending a U.S.-led military occupation, this petition shows that the war propaganda in Syria – particularly as it relates to the Kurds – has been highly effective in subverting the progressive anti-war left as it relates to the Syrian conflict.

How he's going to explain supporting kidnappers, murders, drug dealers:

Ethnic cleaners:

Thieves:

Child soldier recruiters:

Allen , Apr 26, 2018 8:56:52 PM | 64

Don't miss this piece:

Another Beautiful Soul: Counterpunching the Global Assault on Dissent

I was recently alerted to Sonali Kolhatkar's Truth Dig article, "Why Are Some on the Left Falling for Fake News on Syria?", which Counterpunch found important enough to republish under the title, "The Left, Syria and Fake News." Kolhatkar's article was introduced to me as the work of a "beautiful soul."

...

The beautiful soul is consumed with "philanthropic fantasies and sentimental phrases about fraternity", Engels once remarked. They advocate "edifying humanism" and "generic, vague, moral appeals" not "concrete political action" to challenge "a specific social system".* It's not clear what Counterpunch is counterpunching, but in the case of Draitser and Kolhatkar, it's certainly not US imperialism.

Beautiful souls appear not to recognize that the war in Syria is a concrete political struggle connected to a specific social system related to empire; it is the struggle of the United States to extend its dictatorship over all of the Arab world and of Arab nationalists in Damascus and their allies to counter US imperial designs. All the beautiful soul recognizes is that people are being killed, families are being uprooted, small children are being terrorized, and they wish it would all just end. They're not for justice, or an end to oppression and the dictatorship of the United States, or for equality; they're for the absence of conflict. And they don't seem to particularly care how it's brought about.

...

In any event, whatever left Kolhatkar is part of, is not a left that has much to do with challenging and overcoming a real world system of domination, oppression and exploitation. It's a left whose goal is the absence of conflict, not the presence of justice; it's for pious expressions of benevolence, not engagement with a real world struggle against dictatorship on an international level.

https://gowans.wordpress.com/2018/04/24/another-beautiful-soul-counterpunching-the-global-assault-on-dissent/

paul , Apr 26, 2018 9:31:37 PM | 68
what Chomsky is doing now re. Syria should raise big questions about what his role has been for the left in the past.

[Apr 23, 2018] Neoliberals are statists, much like Trotskyites are

Highly recommended!
Apr 23, 2018 | americanaffairsjournal.org

From Neoliberalism The Movement That Dare Not Speak Its Name - American Affairs Journal

While it is undeniable that neoliberals routinely disparage the state, both back then and now, it does not follow that they are politically libertarian or, as David Harvey would have it, that they are implacably opposed to state interventions in the economy and society. Harvey's error is distressing, since even Antonio Gramsci understood this: "Moreover, laissez-faire liberalism, too, must be introduced by law, through the intervention of political power: it is an act of will, not the spontaneous, automatic expression of economic facts." 6 From the 1940s onward, the distinguishing characteristic of neoliberal doctrines and practice is that they embrace this prospect of repurposing the strong state to impose their vision of a society properly open to the dominance of the market as they conceive it. Neoliberals from Friedrich Hayek to James Buchanan to Richard Posner to Alexander Rüstow (who invented the term Vitalpolitik , which became Foucault's "biopolitics") to Jacques Rueff, not to mention a plethora of figures after 1970, all explicitly proposed policies to strengthen the state. 7

Friedman's own trademark proposals, like putting the money supply on autopilot, or replacing public schools with vouchers, required an extremely strong state to enforce them. While neoliberal think tanks rile up the base with debt clocks and boogeyman statistics of ratios of government expenditure to GDP, neoliberal politicians organize a host of new state activities to fortify their markets. They extravagantly increase incarceration and policing of those whom they deem unfit for the marketplace. They expand both state and corporate power to exercise surveillance and manipulation of subject populations while dismantling judicial recourse to resist such encroachments. Neoliberals introduce new property rights (like intellectual property) to cement into place their extensions of market valuations to situations where they were absent. They strengthen international sanctions such as the Trans-Pacific Partnership and investor-state dispute settlement schemes to circumvent and neutralize national social legislation they dislike. They bail out and subsidize private banking systems at the cost of many multiples of existing national income. And they define corporations as legal persons in order to facilitate the buying of elections.

The blue-sky writings of neoliberals with regard to the state are, if anything, even more daunting. In the imaginary constitution proposed in Hayek's Law, Legislation and Liberty , he suggests that politicians be rendered more powerful : in the imagined upper legislative house, Hayek stipulates, only men of substantial property over age forty-five would be eligible to vote or be elected; no political parties would be allowed; and each member would stand for a hefty fifteen-year term. 8 This illustrates the larger neoliberal predisposition to be very leery of democracy, and thus to stymie public participation through the concentration of political power in fewer hands. James Buchanan proposed something very similar. 9 This is just about as far from libertarianism as one could get, short of brute dictatorship.

So here is the answer to my first question: people think the label "neoliberalism" is an awful neologism because the neoliberals have been so good at covering their tracks, obscuring what they stand for, and denying the level of coherence which they have achieved in their long march to legitimacy. Back when some of these proposals were just a gleam in Hayek's eye, they did explicitly use the term "neoliberalism" to describe the project that, back then, did not yet exist -- even Milton Friedman used it in print! 10 But once their program looked like it would start to jell, and subsequently start reshaping both the state and the market more to their liking, they abruptly abjured any reference to that label, and sometime in the later 1950s, following the lead of Hayek, they began to call themselves "classical liberals." This attempt at rebranding was an utter travesty because, as they moved from reconceptualization of one area of human experience to another, the resulting doctrines contradicted classical liberalism point by point, and term by term. It might be worthwhile for us who come after to insist upon the relevance of things that put the neo- in neoliberalism.

What's New about Neoliberalism?

In a nutshell, classical liberalism imagined a night watchman state that would set the boundaries for the natural growth of the market, like a shepherd tending his flock. Markets were born, not made. The principles of good governance and liberty would be dictated by natural rights of individual humans, or perhaps by the prudent accretion of tradition. People needed to be nurtured first to find themselves, in order to act as legitimate citizens in liberal society. Society would be protected from the disruptive character of the market by something like John Stuart Mill's "harm principle": colloquially, the freedom of my fist stops at the freedom of your face. The neoliberals were having none of that, and explicitly said so.

Far from trying to preserve society against the unintended consequences of the operations of markets, as democratic liberalism sought to do, neoliberal doctrine instead set out actively to dismantle those aspects of society which might resist the purportedly inexorable logic of "catallactics," and to reshape it in the market's image. For neoliberals, freedom and the market would be treated as identical. Their rallying cry was to remove the foundation of liberty from natural rights or tradition, and reposition it upon an entirely novel theory concerning what a market was, or should be. They could not acknowledge individual natural rights, because they sought to tutor the masses to become the agent the market would be most likely to deem successful. The market no longer gave you what you wanted; you had to capitulate to what the market wanted. All areas of life could be better configured to behave as if they were more market-like. Gary Becker, for example, a member of the Mont Pèlerin Society, proposed a market-based approach to allow for a socially optimal level of crime, and advocated a revolutionary extension of marginal calculus to include the "shadow costs" and benefits associated with "children, prestige or esteem, health, altruism, envy, and pleasure of the senses." Becker even proposed an economic model of the "dating market," one consequence of which was the proposition that polygamy for successful, wealthy men could be politically rationalized. And voilà! The Sunday New York Times produced an article saying just that, as if it were real news. Classical liberals like Mill or Michael Oakeshott would be spinning in their graves. 11

The intellectual content of neoliberalism is something that warrants sustained discussion, but this can only happen once critical historians can admit they are no longer basing their evaluations on the isolated writings of a single author. There is no convenient crib sheet describing what the modern neoliberal thought collective (for brevity, NTC) actually believes. Nevertheless, neoliberalism does have certain themes that are regularly sounded in emanations from the NTC:

No wonder outsiders are dazed and confused. The neoliberal revolutionaries, contemptuous of tradition, conjured a fake tradition to mask their true intentions. They did this while explicitly abjuring the label of "conservative." But there is one more reason that outsiders tend to think it a mistake to posit an effective intellectual formation called "neoliberalism." Nowadays we doubt that ideas, and particularly political ideas, are the product of the concerted efforts of some thought collective stretching over generations, engaging in critique and reconstruction, fine-tuning and elaborating doctrine, while keeping focused upon problems of implementation and feasibility. Indeed, that doubt is evidence of neoliberal preconceptions having seeped into all of our thought processes. Yet that is an exact description of how neoliberalism developed, in the manner (as I insist on calling it) of a thought collective: sanctioned members are encouraged to innovate and embellish in small ways, but an excess of doctrinal heresy gets one expelled from participation. Central dogmas are not codified or dictated by any single prophet; no one delivers the Tablets down from the "Mont"; and you cannot adequately understand neoliberalism solely by reading Hayek or Milton Friedman, for that matter. While we can locate its origins in 1947, it has undergone much revision since then, and is still a hydra-headed Gorgon to this very day.

[Apr 23, 2018] How Neoliberalism Worms Its Way Into Your Brain by Nathan J. Robinson

Highly recommended!
Neoliberal rationality is about redefining everything in economic terms. This is pretty devious trick. As soon as you allow it you are hooked.
Notable quotes:
"... Republicans argue that their tax cut will increase GDP, reduce the deficit, and reduce taxes for the middle class. Democrats reply that the tax cut will not increase GDP, will not reduce the deficit, and will not reduce the middle-class's tax burden. Both parties are arguing around a shared premise: the goal is to cut taxes for the middle class, reduce the deficit, and grow GDP. ..."
"... What if teaching students history turns out to make them worse workers, because they begin to see a resemblance between their bosses and the robber barons? What if the study of philosophy makes laborers less compliant and docile? If we argue that music is actually economically useful, then we'll have no defense of music if it turns out not to be useful. Instead, we need to argue that whether music is economically useful has nothing to do with whether students deserve to be exposed to it. ..."
"... Here's a clear illustration. Donald Trump heavily pushes the idea that school should be job training, to the point of saying that "community colleges" should be redefined as vocational schools because he doesn't know what "community" is. (You can blame Trump's ignorance, but this is partially because the right has spent decades insisting that "society" and "community" are meaningless terms and the world consists solely of individuals, and the left has not had good explanations in response.) ..."
"... I gave a similar example recently of the difference between the way a neoliberal framework looks at things versus the way a leftist does. Goldman Sachs produced a report suggesting to biotech companies that curing diseases might not actually be profitable, because people stop being customers once they are cured and no more money can be extracted from them. The liberal response to this would be an empirical argument: "Here's why it is actually profitable to cure diseases." The leftist response would be: "We need to have a value system that goes beyond profit maximization." ..."
"... Economic values become the water we swim in, and we don't even notice them worming their way into our brains. ..."
"... The fact that everyone seems to agree that the purpose of education is "job skills," rather than say, "the flourishing of the human mind," shows the triumph of a certain new kind of liberalism, for which I can only think of one word. ..."
Apr 23, 2018 | www.currentaffairs.org
...For example: Republicans argue that their tax cut will increase GDP, reduce the deficit, and reduce taxes for the middle class. Democrats reply that the tax cut will not increase GDP, will not reduce the deficit, and will not reduce the middle-class's tax burden. Both parties are arguing around a shared premise: the goal is to cut taxes for the middle class, reduce the deficit, and grow GDP.

But traditional liberalism, before the "neo" variety emerged, would have made its case on the basis of some quite different premises. Instead of arguing that Democrats are actually the party that will reduce the middle class' taxes, it would make the case that taxes are important, because it's only through taxes that we can improve schools, infrastructure, healthcare, and poverty relief. Instead of participating in the race to cut taxes and the deficit, Old Liberalism is based on a set of moral ideas about what we owe to one another.

Now, one reason I dislike the "neoliberalism" framework is that I'm not sure how much this nostalgic conception of the Great Liberalism Of Times Past should be romanticized. But it's obvious that there's a great deal of difference between New Deal/Great Society rhetoric and "Actually We're The Real Job Creators/Tax-Cutters/GDP Growers." And it's also true that over the last decades, certain pro-market ideological premises have wormed their way into the mind of ordinary liberals to the point that debates occur within a very narrow economic framework.

Let me give you a very clear example. Libertarian economist Bryan Caplan has a new book out called The Case Against Education . It argues that the public school system is a waste of time and money and should be destroyed. Caplan says that students are right to wonder "when they will ever use" the things they are being taught. They won't, he says, because they're not being taught any skills they will actually need in the job market. Instead, education functions mostly as "signaling": a degree shows an employer that you are the type of person who works hard and is responsible, not that you have actually learned particular things that you need. Credentials, Caplan says, are mostly meaningless. He argues that we should drastically cut public school funding, make education more like job training, get rid of history, music, and the arts, and "deregulate and destigmatize child labor." Essentially, Caplan believes that education should be little more than skills training for jobs, and it's failing at that.

Now here's where "neoliberalism" comes in. Caplan's argument is obviously based on right-wing economic premises: markets should sort everything out, the highest good is to create value for your employers, etc. But let's look at a "liberal" response. In The Washington Monthly , Kevin Carey has a biting critique of Caplan's book, which he says is based on a "childish" philosophy. Carey says that education is , in fact useful for more than signaling:

Caplan is not wrong about the existence of signaling and its kissing cousin, credentialism, which describes the tendency of job categories to accrue more degree requirements, sometimes unnecessarily, over time. But these are banal and unchallenged ideas in the economics profession. In his 2001 Nobel lecture, [Michael] Spence warned that people who use job markets to illustrate signaling run the risk of concluding, wrongly, that education doesn't contribute to productivity. This wrongheaded argument is the essence of The Case Against Education Eric Hanushek, a conservative economist and well-known skeptic of public school funding, has documented a strong relationship between average scores on international tests and the growth rates of national economies. Put simply, well-educated nations become prosperous nations, and no country has become well educated without large, sustained investments in public education.

Carey mounts a strong defense of public education against Caplan's attack. But look at how he does it. Caplan has argued that education doesn't actually make students more productive or give them skills useful for thriving in the economy. Carey replies that while this is partly true, education does actually increase productivity, as we can see when we look across nations. Everyone in the discussion, however, is operating on the implicit premise that the measure of whether education is successful is "productivity." And because of that, no matter how strong the liberal argument is, no matter how stingingly critical it may be of libertarianism or privatization, it has already ceded the main point. We all agree that education is about maximizing students' value to the economy, we just disagree about the degree to which public education successfully does that, and whether the solution is to fix the system or get rid of it. The debate becomes one of empirics rather than values.

Carey doesn't make a case for an alternative "liberal" notion of education, and doesn't question the values underlying the "banal and unchallenged ideas in the economics profession." But unless liberalism is to be something more than "a difference of opinion over the correct way to maximize productivity," it's important to defend a wholly different set of principles . Otherwise, what if it turns out that providing art and music classes is a drag on productivity? What if teaching students history turns out to make them worse workers, because they begin to see a resemblance between their bosses and the robber barons? What if the study of philosophy makes laborers less compliant and docile? If we argue that music is actually economically useful, then we'll have no defense of music if it turns out not to be useful. Instead, we need to argue that whether music is economically useful has nothing to do with whether students deserve to be exposed to it.

Here's a clear illustration. Donald Trump heavily pushes the idea that school should be job training, to the point of saying that "community colleges" should be redefined as vocational schools because he doesn't know what "community" is. (You can blame Trump's ignorance, but this is partially because the right has spent decades insisting that "society" and "community" are meaningless terms and the world consists solely of individuals, and the left has not had good explanations in response.) A UCLA education professor, Mike Rose, critiques Trump and Betsy DeVos for defining vocational education "in functional and economistic terms -- as preparation for the world of work[,] reduced to narrow job training." Sounds right! But then here's what Rose says about why vocational education must be more than training:

Intellectual suppleness will have to be as key an element of a future Career and Technical Education as the content knowledge of a field. The best CTE already helps students develop an inquiring, problem-solving cast of mind. But to make developing such a cast of mind standard practice will require, I think, a continual refining of CTE and an excavation of the beliefs about work and intelligence that led to the separation of the academic and the vocational course of study in the first place. [In addition to basic skills], students will need to learn the conceptual base of those tools and techniques and how to reason with them, for future work is predicted to be increasingly fluid and mutable. A standard production process or routine of service could change dramatically. Would employees be able to understand the principles involved in the process or routine and adapt past skills to the new workplace? To borrow a phrase from labor journalist William Serrin, we need "to give workers back their heads" and assume and encourage the intellectual engagement of students in the world of work. That engagement would include education in history and sociology, economics and political science. What are the forces shaping the economy? How did we get to this place, and are there lessons to be learned from exploring that history? Are there any pressure points for individual or collective action? What resources are out there, what options do I have, how do I determine their benefits and liabilities?

Rose argues that workers should be given an education in history and sociology. Why? Because it will make them better workers. The future economy will require more adaptable minds with better critical reasoning skills, and wider courses of study will help prepare students for that future economy. Yet the argument is still: Education shouldn't just be job training, it should also incorporate the liberal arts, because the liberal arts are also helpful on the job. Our defense of a liberal education remains instrumental. Of course, often when liberals make these arguments, they defend them by saying that instrumental arguments are more successful than moral ones. You're not going to get anywhere arguing that workers deserve history courses, you have to say that they need them. But I've always been skeptical of that defense for a few reasons. First, if it turns out that learning history won't actually produce better tech workers, your whole argument collapses. Second, it's dishonest, and people can usually detect dishonesty. Third, it takes us yet another step further toward the universal acceptance of the conclusion that economic values are the only values there are. (Also, let's be real: no business is going to be fooled into thinking it's a good idea to teach their workers how to use "collective action" to exert pressure.)

I gave a similar example recently of the difference between the way a neoliberal framework looks at things versus the way a leftist does. Goldman Sachs produced a report suggesting to biotech companies that curing diseases might not actually be profitable, because people stop being customers once they are cured and no more money can be extracted from them. The liberal response to this would be an empirical argument: "Here's why it is actually profitable to cure diseases." The leftist response would be: "We need to have a value system that goes beyond profit maximization."

Neoliberalism, then, is the best existing term we have to capture the almost universal convergence around a particular set of values. We don't have debates over whether the point of teaching is to enrich the student's mind or prepare the student for employment, we have debates over how to prepare students for employment. Economic values become the water we swim in, and we don't even notice them worming their way into our brains.

he word is valuable insofar as it draws our attention to the ideological frameworks within which debates occur, and where the outer boundaries of those debates lie. The fact that everyone seems to agree that the purpose of education is "job skills," rather than say, "the flourishing of the human mind," shows the triumph of a certain new kind of liberalism, for which I can only think of one word.

We will have a more thorough examination of The Case Against Education, along with an explanation of an alternate left conception of the purpose of schooling, in our May-June edition. Subscribe now to make sure you receive it when it comes out!

Nathan J. Robinson is the editor of Current Affairs.

[Mar 12, 2018] There is no democracy without economic democracy by Jason Hirthler

Highly recommended!
Like many high demand cults neoliberalism is a trap, from which it is very difficult to escape...
Notable quotes:
"... A large, open-border global free market would be left, not subject to popular control but managed by a globally dispersed, transnational one percent. And the whole process of making this happen would be camouflaged beneath the altruistic stylings of a benign humanitarianism. ..."
"... Globalists, as neoliberal capitalists are often called, also understood that democracy, defined by a smattering of individual rights and a voting booth, was the ideal vehicle to usher neoliberalism into the emerging world. Namely because democracy, as commonly practiced, makes no demands in the economic sphere. Socialism does. Communism does. These models directly address ownership of the means of production. Not so democratic capitalism. This permits the globalists to continue to own the means of production while proclaiming human rights triumphant in nations where interventions are staged. ..."
"... The enduring lie is that there is no democracy without economic democracy. ..."
turcopolier.typepad.com

Part 3 - A False Promise

This 'Washington Consensus' is the false promise promoted by the West. The reality is quite different. The crux of neoliberalism is to eliminate democratic government by downsizing, privatizing, and deregulating it. Proponents of neoliberalism recognize that the state is the last bulwark of protection for the common people against the predations of capital. Remove the state and they'll be left defenseless .

Think about it. Deregulation eliminates the laws. Downsizing eliminates departments and their funding. Privatizing eliminates the very purpose of the state by having the private sector take over its traditional responsibilities.

Ultimately, nation-states would dissolve except perhaps for armies and tax systems. A large, open-border global free market would be left, not subject to popular control but managed by a globally dispersed, transnational one percent. And the whole process of making this happen would be camouflaged beneath the altruistic stylings of a benign humanitarianism.

Globalists, as neoliberal capitalists are often called, also understood that democracy, defined by a smattering of individual rights and a voting booth, was the ideal vehicle to usher neoliberalism into the emerging world. Namely because democracy, as commonly practiced, makes no demands in the economic sphere. Socialism does. Communism does. These models directly address ownership of the means of production. Not so democratic capitalism. This permits the globalists to continue to own the means of production while proclaiming human rights triumphant in nations where interventions are staged.

The enduring lie is that there is no democracy without economic democracy.

What matters to the one percent and the media conglomerates that disseminate their worldview is that the official definitions are accepted by the masses. The real effects need never be known. The neoliberal ideology (theory) thus conceals the neoliberal reality (practice). And for the masses to accept it, it must be mass produced. Then it becomes more or less invisible by virtue of its universality.

Source, links:

https://www.counterpunch.org/2018/03/02/colonizing-the-western-mind/
[ 1 ] [ 2 ]

[Mar 12, 2018] Colonizing the Western Mind using think tanks

Highly recommended!
Notable quotes:
"... In a short span of time in the 1970s, dozens of think tanks were established across the western world and billions of dollars were spent proselytizing the tenets of the Powell Memo in 1971, which galvanized a counter-revolution to the liberal upswing of the Sixties. The neoliberal economic model of deregulation, downsizing, and privatization was preached by the Reagan-Thatcher junta, liberalized by the Clinton regime, temporarily given a bad name by the unhinged Bush administration, and saved by telegenic restoration of the Obama years. ..."
"... Today think tanks like the Heritage Foundation, the Brookings Institute, Stratfor, Cato Institute, American Enterprise Institute, Council on Foreign Relations, Carnegie Endowment, the Open Society Foundation, and the Atlantic Council, among many others, funnel millions of dollars in donations into cementing neoliberal attitudes in the American mind. ..."
"... The ideological assumptions, which serve to justify what you could call neocolonial tactics, are relatively clear: the rights of the individual to be free of overreach from monolithic institutions like the state. Activist governments are inherently inefficient and lead directly to totalitarianism. Markets must be free and individuals must be free to act in those markets. People must be free to choose, both politically and commercially, in the voting booth and at the cash register. ..."
"... This conception of markets and individuals is most often formulated as "free-market democracy," a misleading conceit that conflates individual freedom with the economic freedom of capital to exploit labor. So when it comes to foreign relations, American and western aid would only be given on the condition that the borrowers accepted the tenets of an (highly manipulable) electoral system and vowed to establish the institutions and legal structures required to fully realize a western market economy. ..."
Mar 12, 2018 | www.counterpunch.org

In Christopher Nolan's captivating and visually dazzling film Inception, a practitioner of psychic corporate espionage must plant and idea inside a CEO's head. The process is called inception, and it represents the frontier of corporate influence, in which mind spies no longer just "extract" ideas from the dreams of others, but seed useful ideas in a target's subconscious.

Inception is a well-crafted piece of futuristic sci-fi drama, but some of the ideas it imparts are already deeply embedded in the American subconscious.

The notion of inception, of hatching an idea in the mind of a man or woman without his or her knowledge, is the kernel of propaganda, a black art practiced in the States since the First World War. Today we live beneath an invisible cultural hegemony, a set of ideas implanted in the mass mind by the U.S. state and its corporate media over decades. Invisibility seems to happen when something is either obscure or ubiquitous. In a propaganda system, an overarching objective is to render the messaging invisible by universalizing it within the culture. Difference is known by contrast. If there are no contrasting views in your field of vision, it's easier to accept the ubiquitous explanation. The good news is that the ideology is well-known to some who have, for one lucky reason or another, found themselves outside the hegemonic field and are thus able to contrast the dominant worldview with alternative opinions. On the left, the ruling ideology might be described as neoliberalism, a particularly vicious form of imperial capitalism that, as would be expected, is camouflaged in the lineaments of humanitarian aid and succor.

Inception 1971

In a short span of time in the 1970s, dozens of think tanks were established across the western world and billions of dollars were spent proselytizing the tenets of the Powell Memo in 1971, which galvanized a counter-revolution to the liberal upswing of the Sixties. The neoliberal economic model of deregulation, downsizing, and privatization was preached by the Reagan-Thatcher junta, liberalized by the Clinton regime, temporarily given a bad name by the unhinged Bush administration, and saved by telegenic restoration of the Obama years.

The ideology that underlay the model saturated academia, notably at the University of Chicago, and the mainstream media, principally at The New York Times. Since then it has trickled down to the general populace, to whom it now feels second nature.

Today think tanks like the Heritage Foundation, the Brookings Institute, Stratfor, Cato Institute, American Enterprise Institute, Council on Foreign Relations, Carnegie Endowment, the Open Society Foundation, and the Atlantic Council, among many others, funnel millions of dollars in donations into cementing neoliberal attitudes in the American mind.

The ideological assumptions, which serve to justify what you could call neocolonial tactics, are relatively clear: the rights of the individual to be free of overreach from monolithic institutions like the state. Activist governments are inherently inefficient and lead directly to totalitarianism. Markets must be free and individuals must be free to act in those markets. People must be free to choose, both politically and commercially, in the voting booth and at the cash register.

This conception of markets and individuals is most often formulated as "free-market democracy," a misleading conceit that conflates individual freedom with the economic freedom of capital to exploit labor. So when it comes to foreign relations, American and western aid would only be given on the condition that the borrowers accepted the tenets of an (highly manipulable) electoral system and vowed to establish the institutions and legal structures required to fully realize a western market economy.

These demands were supplemented with notions of the individual right to be free of oppression, some fine rhetoric about women and minorities, and somewhat more quietly, a judicial understanding that corporations were people, too. Together, an unshackled economy and an unfettered populace, newly equipped with individual rights, would produce the same flourishing and nourishing demos of mid-century America that had been the envy of humanity.

[Mar 02, 2018] Fatal Delusions of Western Man by Pat Buchanan

Highly recommended!
At the core of Trumpism is the rejection of neoliberalism
Pat Buchanan does not understand neoliberalism well and mixes apples with oranges, but the key idea expressed here stands: " Consider this crazed ideology of free trade globalism with its roots in the scribblings of 19th-century idiot savants, not one of whom ever built a great nation. Adhering religiously to free trade dogma, we have run up $12 trillion in trade deficits since Bush I. Our cities have been gutted by the loss of plants and factories. Workers' wages have stagnated. The economic independence Hamilton sought and Republican presidents from Lincoln to McKinley achieved is history."
Notable quotes:
"... Patrick J. Buchanan is the author of a new book, "Nixon's White House Wars: The Battles That Made and Broke a President and Divided America Forever." ..."
Mar 02, 2018 | www.unz.com

At Yalta, Churchill rose to toast the butcher:

"I walk through this world with greater courage and hope when I find myself in a relation of friendship and intimacy with this great man, whose fame has gone out not only over all Russia, but the world. We regard Marshal Stalin's life as most precious to the hopes and hearts of all of us."

Returning home, Churchill assured a skeptical Parliament, "I know of no Government which stands to its obligations, even in its own despite, more solidly than the Russian Soviet Government."

George W. Bush, with the U.S. establishment united behind him, invaded Iraq with the goal of creating a Vermont in the Middle East that would be a beacon of democracy to the Arab and Islamic world.

Ex-Director of the NSA Gen. William Odom correctly called the U.S. invasion the greatest strategic blunder in American history. But Bush, un-chastened, went on to preach a crusade for democracy with the goal of "ending tyranny in our world."

... ... ...

After our victory in the Cold War, we not only plunged into the Middle East to remake it in our image, we issued war guarantees to every ex-member state of the Warsaw Pact, and threatened Russia with war if she ever intervened again in the Baltic Republics.

No Cold War president would have dreamed of issuing such an in-your-face challenge to a great nuclear power like Russia. If Putin's Russia does not become the pacifist nation it has never been, these guarantees will one day be called. And America will either back down -- or face a nuclear confrontation. Why would we risk something like this?

Consider this crazed ideology of free trade globalism with its roots in the scribblings of 19th-century idiot savants, not one of whom ever built a great nation. Adhering religiously to free trade dogma, we have run up $12 trillion in trade deficits since Bush I. Our cities have been gutted by the loss of plants and factories. Workers' wages have stagnated. The economic independence Hamilton sought and Republican presidents from Lincoln to McKinley achieved is history.

But the greatest risk we are taking, based on utopianism, is the annual importation of well over a million legal and illegal immigrants, many from the failed states of the Third World, in the belief we can create a united, peaceful and harmonious land of 400 million, composed of every race, religion, ethnicity, tribe, creed, culture and language on earth.

Where is the historic evidence for the success of this experiment, the failure of which could mean the end of America as one nation and one people?

Patrick J. Buchanan is the author of a new book, "Nixon's White House Wars: The Battles That Made and Broke a President and Divided America Forever."

likbez , March 2, 2018 at 6:47 am GMT

Pat Buchanan does not understand neoliberalism well and mixes apples with oranges, but the key idea expressed here stands:

" Consider this crazed ideology of free trade globalism with its roots in the scribblings of 19th-century idiot savants, not one of whom ever built a great nation. Adhering religiously to free trade dogma, we have run up $12 trillion in trade deficits since Bush I. Our cities have been gutted by the loss of plants and factories. Workers' wages have stagnated. The economic independence Hamilton sought and Republican presidents from Lincoln to McKinley achieved is history."

The truth is that now Trump does not represent "Trumpism" -- the movement that he created which includes the following:

– rejection of neoliberal globalization;
– rejection of unrestricted immigration;
– fight against suppression of wages by multinationals via cheap imported labor;
– fight against the elimination of meaningful, well-paying jobs via outsourcing and offshoring of manufacturing;
– rejection of wars for enlargement and sustaining of neoliberal empire, especially NATO role as global policemen and wars for Washington client Israel in the Middle East;
– détente with Russia;
– more pragmatic relations with Israel and suppression of Israeli agents of influence;
– revision of relations with China and addressing the problem of trade deficit.
– rejection of total surveillance on all citizens;
– the cut of military expenses to one third or less of the current level and concentrating on revival on national infrastructure, education, and science.
– abandonment of maintenance of the "sole superpower" status and global neoliberal empire for more practical and less costly "semi-isolationist" foreign policy; closing of unnecessary foreign military bases and cutting aid to the current clients.

Of course, the notion of "Trumpism" is fuzzy and different people might include some additional issues and disagree with some listed here, but the core probably remains.

Of course, Trump is under relentless attack (coup d'état or, more precisely, a color revolution) of neoliberal fifth column, which includes Clinton gang, fifth column elements within his administration (Rosenstein, etc) as well from remnants of Obama administration (Brennan, Comey, Clapper) and associated elements within corresponding intelligence agencies. He probably was forced into some compromises just to survive. He also has members of the neoliberal fifth column within his family (Ivanka and Kushner).

So the movement now is in deep need of a new leader.

Miro23, March 3, 2018 at 7:55 am GMT
@likbez

That's a good summary of what the public voted for and didn't get.

And whether Trump has sold out, or was blackmailed or was a cynical manipulative liar for the beginning is really irrelevant. The fact is that he is not doing it – so he is just blocking the way.

At some point the US public are going to have to forget about their "representatives" (Trump and Congress and the rest of them) and get out onto the street to make themselves heard. The population of the US is 323 million people and if just 1/2 of 1% (1,6 million) of them decided to visit Congress directly the US administration might get the message.

pyrrhus, March 3, 2018 at 2:15 am GMT

@anon

Finally, Pat understands that the American [Neoliberal] Empire and habit of intervention all over the world is a disaster.

[Feb 10, 2018] More on neoliberal newspeak of US propaganda machine

Highly recommended!
Notable quotes:
"... The "Newspeak" we experience is straight out of Orwell's 1984. From Wikipedia: Newspeak is the fictional language in the novel Nineteen Eighty-Four, written by George Orwell. It is a controlled language created by the totalitarian state Oceania as a tool to limit freedom of thought, and concepts that pose a threat to the regime such as freedom, self-expression, individuality, and peace. Any form of thought alternative to the party's construct is classified as "thoughtcrime". ..."
"... It is truly scary how Orwellian our current situation has become reminding me that there are always two two takeaways from any story or historical record. Those that view it as a cautionary tale and those who use it as an instruction manual. ..."
"... We are also controlled through Doublespeak another Orwellian concept. From Wikipedia: Doublespeak is a language that deliberately obscures, disguises, distorts, or reverses the meaning of words. Some common examples are the branding of liberals by pundits in the media as Fascists in order to eliminate the historical understanding of exactly what that word refers to. Another example is the appearance of the term Alt Right which is used to confuse and obscure the true nature of these groups. A great example of the doublespeak the media exercises in service to the state is the instantaneous adoption of the term Alt Right and nary ever a mention of its former names such as White Supremacist, Neo Nazi, Racist, Hate Group etc. They just rename these movements and hide all the other terms from sight. Another example is scapegoating the same group of people but under a different term. Today the term is Liberal but in the past, the Nazi movement called them Jews, Communists, Intellectuals etc. Whatever the term, the target of these attacks are always the ones that threaten the Power Structure. ..."
"... Joseph Goebbels was in charge of the war propaganda for the Nazis during WWII. He said: "If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State." ..."
Feb 10, 2018 | consortiumnews.com

CitizenOne , February 10, 2018 at 11:58 am

The reason we are in the pickle barrel is exactly the reasons stated in the article and by Annie. We are exposed to exactly what they want to show us and are blinded by other narratives which do not support the group think. It is as if the politicians, the intelligence community and the media are all involved in a conspiracy. Remember that word means a plan by two or more people. No tin foil hat required. But anyone suggesting conspiracy is instantly branded a nut hence the universal use of the term conspiracy nut as a derogatory term to label anyone with a different message that somehow captures the attention of a wider audience. It is not so much that all Holly Wood stars are liberal socialists. They are a diverse group. However they all have one thing in common which is they have the public's ear. They are also not on point with the approved messaging and so must be continuously branded as conspiracy nuts and socialist subversives. We all have seen the 24/7 bashing of these folks. Control is the reason.

The "Newspeak" we experience is straight out of Orwell's 1984. From Wikipedia: Newspeak is the fictional language in the novel Nineteen Eighty-Four, written by George Orwell. It is a controlled language created by the totalitarian state Oceania as a tool to limit freedom of thought, and concepts that pose a threat to the regime such as freedom, self-expression, individuality, and peace. Any form of thought alternative to the party's construct is classified as "thoughtcrime".

It is truly scary how Orwellian our current situation has become reminding me that there are always two two takeaways from any story or historical record. Those that view it as a cautionary tale and those who use it as an instruction manual.

I am appalled by how the media at first put Trump in the game in the first place for economic gain (see Les Moonvies article) and then created another fictional fantasy which serves the goal of permawar and control of the citizenry through fear, confusion and ignorance. We are all exposed to the Daily Two Minutes of Hate another Orwellian concept. From Wikipedia: The Two Minutes Hate, from George Orwell's novel Nineteen Eighty-Four, is a daily period in which Party members of the society of Oceania must watch a film depicting the Party's enemies (notably Emmanuel Goldstein and his followers) and express their hatred for them for exactly two minutes. The difference is we can find it 24/7 on our technological wonder machines.

Another Orwellian concept is The Ministry of Truth: The Ministry of Truth (in Newspeak, Minitrue) is the ministry of propaganda. As with the other ministries in the novel, the name Ministry of Truth is a misnomer because in reality it serves the opposite: it is responsible for any necessary falsification of historical events. From Wikipedia: As well as administering truth, the ministry spreads a new language amongst the populace called Newspeak, in which, for example, "truth" is understood to mean statements like 2 + 2 = 5 when the situation warrants. In keeping with the concept of doublethink, the ministry is thus aptly named in that it creates/manufactures "truth" in the Newspeak sense of the word. The book describes the doctoring of historical records to show a government-approved version of events.

We are also controlled through Doublespeak another Orwellian concept. From Wikipedia: Doublespeak is a language that deliberately obscures, disguises, distorts, or reverses the meaning of words. Some common examples are the branding of liberals by pundits in the media as Fascists in order to eliminate the historical understanding of exactly what that word refers to. Another example is the appearance of the term Alt Right which is used to confuse and obscure the true nature of these groups. A great example of the doublespeak the media exercises in service to the state is the instantaneous adoption of the term Alt Right and nary ever a mention of its former names such as White Supremacist, Neo Nazi, Racist, Hate Group etc. They just rename these movements and hide all the other terms from sight. Another example is scapegoating the same group of people but under a different term. Today the term is Liberal but in the past, the Nazi movement called them Jews, Communists, Intellectuals etc. Whatever the term, the target of these attacks are always the ones that threaten the Power Structure.

Joseph Goebbels was in charge of the war propaganda for the Nazis during WWII. He said: "If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State."

If these things seem eerily similar to what is going on today then we probably have a power structure which is a grave threat for peace. Okay, we do have a power structure that is a grave threat to peace but oddly not democracy. Noam Chomsky wrote about propaganda stating, "it's the essence of democracy" This notion is contrary to the popular belief that indoctrination is inconsistent with democracy. The point is that in a totalitarian state, it doesn't much matter what people think because you can control what they do. But when the state loses the bludgeon, when you can't control people by force and when the voice of the people can be heard, you have to control what people think. And the standard way to do this is to resort to what in more honest days used to be called propaganda. Manufacture of consent. Creation of necessary illusions.

The folks who contribute here on this website are few indeed and what lies beyond the haven of the oasis is a vast barren dessert filled with scorpions, snakes and a whole bunch of lies.

Well said for Annie and the authors.

Democracy may be the ultimate tool of control of the masses.

More wisdom from Goebbels:

I like that last one a lot but unfortunately it will not come to pass until things get bad.

CitizenOne , February 10, 2018 at 11:59 am

Link to article: http://www.latimes.com/business/hiltzik/la-fi-hiltzik-trump-moonves-snap-htmlstory.html

Elaine Sandchaz , February 10, 2018 at 5:34 pm

Citizen One – You have beautifully & precicely nailed the means ( "how" ) the USA has gotten in such a mess : Newspeak, Daily Two Minutes of Hate, The Ministry of Truth, DoubleSpeak and the way and why of how Propaganda actually works. George Orwell was a seer.

AND now it would be helpful to understand "why" the USA has gotten in such a mess. The polarity of American politics tells a very long story but in short, polarity means there are only two ways and when the going gets tough, each way is in the extreme – the right way or the wrong way, it flips depending on each individual's political persuasion. When the going gets tough the extremes become the tail that wags the dog.

So my question is : WHY after the seemingly happy years under Obama did the going get so tough so fast?
My pet theory is that Trump threatened to "drain the swamp" which was understood – seemingly now quite rightly – that he was going to expose some very significant wrong doing in very high places. I believe that he was on "NYC/DC" friendly terms with the Clintons and both parties knew each other for the true devil they were. Thus the big red flag he waved in her face brought about what is turning in to a multi billion dollar ongoing attempt to discredit him in the eyes of the people, in the eyes of the World and in the eyes of the highest courts " America be damned".

And politically this is quite necessary because she is not only an icon of all that is American,"apple pie and motherhood"; she is to the under 45 age group the great white mother of democracy via Democrat rule. And the bad part of that iconography is that if she goes down so does the party. It was also critical for her to win because of all the swamp people who had chosen to compromise their life's work, thus had to continue in that compromise in the hope that they would come out clean since they believed that both Trump and the ordinary American were so naive, thus would be easily played for fools.

So all this crap to destroy Trump is about saving her hide to save the party. Things are so desperate now because there is nothing yet in place to replace her in the mind's eye of the Democratic half the voting public. All who might have been in 2nd place were kept diminished to raise her higher. It now is quite obvious that she has been told to shut up and lie low, to come out only when she is in safe company – as at the Golden Globes. So the big picture today as is being painted and hyped to intensify mass hysteria is that Mueller needs to be protected from Trump where really what is needed are the names and numbers to be called on for more $$$, more social media propaganda pages and to vote in November 2018.

Why only that? Because Trump is not going to fire Mueller; remember Mueller was a Bush man and so was Comey. They have a long history of going both ways. Survival is tricky business – especially in DC. The scapegoats are already cornered; possibly the new "lie" is already in draft form. Remember – "If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State."

It is going to be an interesting next few months!! But we can hope that, from this one of many previous American political exercises in democracy, the ordinary defenders of those democratic values (the voters) will learn some significant truths about governance, transparency and the rule of law. The guys at the top are not gods and are not above the law; they must not only do right but be seen to do right.

CitizenOne , February 10, 2018 at 7:57 pm

The only thing I can tell you is that the conspirators who concocted Russia Gate have figured out all the pieces to the puzzle of how to control events via the means I mentioned and many other means. We are as manipulated as a light switch. One way we are all fired up about some BS and flip the switch and we are all calm and mellow. Hopefully if you follow the threads here you will find out a lot of alternative information much of it thoroughly researched by highly respected and qualified individuals who are in a position to know the truth.

Mariam , February 10, 2018 at 7:11 pm

I agree with you wholeheartedly. They call themselves "liberals" in fact they are "new liberals."
Alas, these false ("new) liberals" are very well represented by the Obamas, the Clintons, the Trudeaus, the Macrons and so on.
If you truly believe in the "left" and call yourself "progressive" you couldn't stand for useless and pointless wars, period.

[Dec 31, 2017] Brainwashing as a key component of the US social system by Paul Craig Roberts

Highly recommended!
Notable quotes:
"... Whitehead documents how hard a not guilty verdict is to come by for an innocent defendant. Even if the falsely accused defendant and his attorney survive the prosecutor's pressure to negotiate a plea bargain and arrive at a trial, they are confronted with jurors who are unable to doubt prosecutors, police, or witnesses paid to lie against the innocent defendant. ..."
"... The question is: why do Americans not only sit silently while the lives of innocents are destroyed, but also actually support the destruction of the lives of innocents? Why do Americans believe "official sources" despite the proven fact that "official sources" lie repeatedly and never tell the truth? ..."
"... The only conclusion that one can come to is that the American people have failed. We have failed Justice. We have failed Mercy. We have failed the US Constitution. We have failed Truth. We have failed Democracy and representative government. We have failed ourselves and humanity. We have failed the confidence that our Founding Fathers put in us. We have failed God. If we ever had the character that we are told we had, we have obviously lost it. Little, if anything, remains of the "American character." ..."
"... The failure of the American character has had tremendous and disastrous consequences for ourselves and for the world. At home Americans have a police state in which all Constitutional protections have vanished. Abroad, Iraq and Libya, two formerly prosperous countries, have been destroyed. Libya no longer exists as a country. One million dead Iraqis, four million displaced abroad, hundreds of thousands of orphans and birth defects from the American ordnance, and continuing ongoing violence from factions fighting over the remains. These facts are incontestable. Yet the United States Government claims to have brought "freedom and democracy" to Iraq. "Mission accomplished," declared one of the mass murderers of the 21st century, George W. Bush. ..."
"... The question is: how can the US government make such an obviously false outrageous claim without being shouted down by the rest of the world and by its own population? Is the answer that good character has disappeared from the world? ..."
"... Or is the rest of the world too afraid to protest? Washington can force supposedly sovereign countries to acquiesce to its will or be cut off from the international payments mechanism that Washington controls, and/or be sanctioned, and/or be bombed, droned, or invaded, and/or be assassinated or overthrown in a coup. On the entire planet Earth there are only two countries capable of standing up to Washington, Russia and China, and neither wants to stand up if they can avoid it. ..."
"... For whatever the reasons, not only Americans but most of the world as well accommodate Washington's evil and are thereby complicit in the evil. Those humans with a moral conscience are gradually being positioned by Washington and London as "domestic extremists" who might have to be rounded up and placed in detention centers. Examine the recent statements by General Wesley Clark and British Prime Minister Cameron and remember Janet Napolitano's statement that the Department of Homeland Security has shifted its focus from terrorists to domestic extremists, an undefined and open-ended term. ..."
"... Americans with good character are being maneuvered into a position of helplessness. ..."
"... When Clinton's Secretary of State, Madeleine Albright, was asked if the Clinton's regime's sanctions, which had claimed the lives of 500,000 Iraqi children, were justified, she obviously expected no outrage from the American people when she replied in the affirmative. ..."
"... ... Americans are "intentionally ignorant" of other countries' rights and sovereignty while other countries had been well-informed of America's malicious intents of destroying other countries' rights and sovereignty ... ..."
"... No, I don't think Americans are intentionally ignorant, any more than other nationalities. What they are tribal. Tribal peoples don't care whether their policies are right or wrong; they are instinctively loyal to them and to those who formulate them. ..."
"... "The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind." -- Edward L. Bernays, Propaganda ..."
"... "Americans need to face the facts. The loss of character means the loss of liberty and the transformation of government into a criminal enterprise." ..."
"... "When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby-talk, when, in short, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk; a culture-death is a clear possibility." ..."
"... Look at the demographics of the Western Hemisphere. If you have a shred of honesty you just can't hang the blame on 'whites', put it on a bumper sticker or a #shittyhashtagmeme and go back to fucking off. The disgusting fraud of Manifest Destiny was a fig leaf to hide the enormity of these crimes; but, they are most obviously European crimes....& has Europe changed since the West was settled? Did Europeans even stop their warring amongst themselves? ..."
"... "The loss of character means the loss of liberty and the transformation of government into a criminal enterprise." ..."
"... I agree with Paul Craig Roberts. He asks "Why" and "How." Well, Paul, here is my answer. Decades of Public Education and over 50 years of mass media monopoly. In an age where FOX is the top rated News station and CNN is considered liberal? Where kids in Public school are offered Chocolate milk and frozen pizza for school breakfast before going to class rooms with 30-40 kids. When Texas political appointees chose school text book content for the nation? A nation where service has ended, replaced with volunteer soldiers signing up for pay and benefits, instead of just serving as service, like we did in the 70's? ..."
"... There is a difference between IGNORANCE and STUPIDITY. As Ron White said, "YOU CAN'T FIX STUPID". In todays information age, ignorance is a choice. ..."
"... The problem is that we have no "Constitution." That is a fable. The constitution of the separation of powers has been undermined from almost day one. Witness the Alien and Sedition Acts of 1798. ..."
"... Yes sir. Globalization has failed us. The infinite growth paradigm has failed us, as we knew it would. Castro's Cuba, based in a localized agrarian economy, is looking pretty good about now. Localization is the only way back to sustainability. ..."
"... Books? Who said books? You mean reading books? Let me throw a couple out there: I read 'The Image: A Guide To Pseudo-Events In America' last year, it was published 50+ years ago by a very recommended writer and accomplished historian. Boorstin's observations are truer today and even more concerning thanks to our modern, ubiquitous "connectivity". http://www.goodreads.com/book/show/159979.The_Image ..."
"... Adorno famously pointed out in 1940 that the "Mass culture is psychoanalysis in reverse." ..."
"... He doesn't blame the masses because he simply points out the fact that Americans are completely ignorant and blindly believe anything MSM spoon-fed to them. ..."
"... Paul Craig Roberts believe that the people are capable of creating a better and more just society. Instead the people have voted against their own best interest and overwhelmingly believe the propaganda. ..."
"... "... the transformation of government into a criminal enterprise ..." ..."
"... Governments were created by the history of warfare, which was always organized crime developing on larger and larger scales. In the context, the greater problem is that people like Paul Craig Roberts are reactionary revolutionaries, who provide relatively good analysis, followed by bogus "solutions" based upon impossible ideals. ..."
"... The "American People" are the victims of the best scientific brainwashing that money could buy. As Cognitive Dissonance has previously stated on Zero Hedge: "The absolute best controlled opposition is one that doesn't know they are controlled." ..."
"... The article above was another illustration of the ways that the typical reactionary revolutionaries, Black Sheeple, or controlled opposition groups, respond to recognizing the more and more blatant degrees to which there has been an accelerating "transformation of government into a criminal enterprise." THE PROBLEM IS THAT THEY CONTINUE TO STAY WITHIN THE SAME OLD-FASHIONED BULLSHIT-BASED FRAME OF REFERENCE, INSTEAD, AROUND AND AROUND WE GO, STUCK IN THE SAME DEEPENING RUTS, since they do NOT more fully "face the facts" regarding how and why the only realistic solutions to the real problems would require developing better organized crime. INSTEAD, they continue to promote the same dualities based upon false fundamental dichotomies, and the associate bogus "solutions" based upon impossible ideals ... ..."
Jul 25, 2015 | Zero Hedge

Original title: The Eroding Character Of The American People

Paul Craig Roberts

How can the life of such a man
Be in the palm of some fool's hand?
To see him obviously framed
Couldn't help but make me feel ashamed to live in a land
Where justice is a game.-Bob Dylan, "Hurricane"

Attorney John W. Whitehead opens a recent posting on his Rutherford Institute website with these words from a song by Bob Dylan. Why don't all of us feel ashamed? Why only Bob Dylan?

I wonder how many of Bob Dylan's fans understand what he is telling them. American justice has nothing to do with innocence or guilt. It only has to do with the prosecutor's conviction rate, which builds his political career. Considering the gullibility of the American people, American jurors are the last people to whom an innocent defendant should trust his fate. The jury will betray the innocent almost every time.

As Lawrence Stratton and I show in our book (2000, 2008) there is no justice in America. We titled our book, "How the Law Was Lost." It is a description of how the protective features in law that made law a shield of the innocent was transformed over time into a weapon in the hands of the government, a weapon used against the people. The loss of law as a shield occurred prior to 9/11, which "our representative government" used to construct a police state.

The marketing department of our publisher did not appreciate our title and instead came up with "The Tyranny of Good Intentions." We asked what this title meant. The marketing department answered that we showed that the war on crime, which gave us the abuses of RICO, the war on child abusers, which gave us show trials of total innocents that bested Joseph Stalin's show trials of the heroes of the Bolshevik Revolution, and the war on drugs, which gave "Freedom and Democracy America" broken families and by far the highest incarceration rate in the world all resulted from good intentions to combat crime, to combat drugs, and to combat child abuse. The publisher's title apparently succeeded, because 15 years later the book is still in print. It has sold enough copies over these years that, had the sales occurred upon publication would have made the book a "best seller." The book, had it been a best seller, would have gained more attention, and perhaps law schools and bar associations could have used it to hold the police state at bay.

Whitehead documents how hard a not guilty verdict is to come by for an innocent defendant. Even if the falsely accused defendant and his attorney survive the prosecutor's pressure to negotiate a plea bargain and arrive at a trial, they are confronted with jurors who are unable to doubt prosecutors, police, or witnesses paid to lie against the innocent defendant. Jurors even convicted the few survivors of the Clinton regime's assault on the Branch Davidians of Waco, the few who were not gassed, shot, or burned to death by US federal forces. This religious sect was demonized by Washington and the presstitute media as child abusers who were manufacturing automatic weapons while they raped children. The charges proved to be false, like Saddam Hussein's "weapons of mass destruction," and so forth, but only after all of the innocents were dead or in prison.

The question is: why do Americans not only sit silently while the lives of innocents are destroyed, but also actually support the destruction of the lives of innocents? Why do Americans believe "official sources" despite the proven fact that "official sources" lie repeatedly and never tell the truth?

The only conclusion that one can come to is that the American people have failed. We have failed Justice. We have failed Mercy. We have failed the US Constitution. We have failed Truth. We have failed Democracy and representative government. We have failed ourselves and humanity. We have failed the confidence that our Founding Fathers put in us. We have failed God. If we ever had the character that we are told we had, we have obviously lost it. Little, if anything, remains of the "American character."

Was the American character present in the torture prisons of Abu Ghraib, Guantanamo Bay, and hidden CIA torture dungeons where US military and CIA personnel provided photographic evidence of their delight in torturing and abusing prisoners? Official reports have concluded that along with torture went rape, sodomy, and murder. All of this was presided over by American psychologists with Ph.D. degrees.

We see the same inhumanity in the American police who respond to women children, the elderly, the physically and mentally handicapped, with gratuitous violence. For no reason whatsoever, police murder, taser, beat, and abuse US citizens. Every day there are more reports, and despite the reports the violence goes on and on and on. Clearly, the police enjoy inflicting pain and death on citizens whom the police are supposed to serve and protect. There have always been bullies in the police force, but the wanton police violence of our time indicates a complete collapse of the American character.

The failure of the American character has had tremendous and disastrous consequences for ourselves and for the world. At home Americans have a police state in which all Constitutional protections have vanished. Abroad, Iraq and Libya, two formerly prosperous countries, have been destroyed. Libya no longer exists as a country. One million dead Iraqis, four million displaced abroad, hundreds of thousands of orphans and birth defects from the American ordnance, and continuing ongoing violence from factions fighting over the remains. These facts are incontestable. Yet the United States Government claims to have brought "freedom and democracy" to Iraq. "Mission accomplished," declared one of the mass murderers of the 21st century, George W. Bush.

The question is: how can the US government make such an obviously false outrageous claim without being shouted down by the rest of the world and by its own population? Is the answer that good character has disappeared from the world?

Or is the rest of the world too afraid to protest? Washington can force supposedly sovereign countries to acquiesce to its will or be cut off from the international payments mechanism that Washington controls, and/or be sanctioned, and/or be bombed, droned, or invaded, and/or be assassinated or overthrown in a coup. On the entire planet Earth there are only two countries capable of standing up to Washington, Russia and China, and neither wants to stand up if they can avoid it.

For whatever the reasons, not only Americans but most of the world as well accommodate Washington's evil and are thereby complicit in the evil. Those humans with a moral conscience are gradually being positioned by Washington and London as "domestic extremists" who might have to be rounded up and placed in detention centers. Examine the recent statements by General Wesley Clark and British Prime Minister Cameron and remember Janet Napolitano's statement that the Department of Homeland Security has shifted its focus from terrorists to domestic extremists, an undefined and open-ended term.

Americans with good character are being maneuvered into a position of helplessness. As John Whitehead makes clear, the American people cannot even prevent "their police," paid by their tax payments, from murdering 3 Americans each day, and this is only the officially reported murders. The actual account is likely higher.

What Whitehead describes and what I have noticed for many years is that the American people have lost, in addition to their own sense of truth and falsity, any sense of mercy and justice for other peoples. Americans accept no sense of responsibility for the millions of peoples that Washington has exterminated over the past two decades dating back to the second term of Clinton. Every one of the millions of deaths is based on a Washington lie.

When Clinton's Secretary of State, Madeleine Albright, was asked if the Clinton's regime's sanctions, which had claimed the lives of 500,000 Iraqi children, were justified, she obviously expected no outrage from the American people when she replied in the affirmative.

Americans need to face the facts. The loss of character means the loss of liberty and the transformation of government into a criminal enterprise.

benb

The American people have been scientifically mis-educated, propagandized, and beaten down. A disproportionate number of the under 30's are societal DOAs thanks to ... weaponized TV. But I am being too optimistic...

PrayingMantis

... Americans are "intentionally ignorant" of other countries' rights and sovereignty while other countries had been well-informed of America's malicious intents of destroying other countries' rights and sovereignty ...

BarnacleBill

No, I don't think Americans are intentionally ignorant, any more than other nationalities. What they are tribal. Tribal peoples don't care whether their policies are right or wrong; they are instinctively loyal to them and to those who formulate them.

Also, I have to say that I believe the US empire is a long, long, way from collapse. It is still expanding, for goodness sake. Empires collapse only when the shrinking process is well under way. (The recent Soviet Empire was exceptional, in this regard.) It will take several more generations before the darkness lifts, I'm afraid.

macholatte

The only conclusion that one can come to is that the American people have failed.

It's now official, PCR is a complete dipshit.

Hey Paul, how about you get your head out of the clouds and stop looking down your nose at everyone long enough to read a couple of books about brainwashing and then get back to us. Maybe you start with this: http://edward-bernays.soup.io/post/19658768/Edward-Bernays-Propaganda-19...

"The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind."
-- Edward L. Bernays, Propaganda

OldPhart

"Americans need to face the facts. The loss of character means the loss of liberty and the transformation of government into a criminal enterprise."

I think that happened August 13, 1971, but didn't get fully organized (as in Mafia) until 2000.

PT

The majority have their nose to the grind stone and as such can not see past the grind stone. They rely on "official sources" to put the rest of the world in order for them, but have no time to audit the "official sources". Would public education suffer if mothers and fathers were monitoring what the children were learning? But who has got time for that when both parents are working? How many non-work organizations were your parents and grand-parents involved in (both the wage-earner and the housekeeper)? How many organizations are you involved in?

Do you constantly hassle your local politicians or do you just say, "I'll vote 'em out in four years time"? (Yes, I know, you just don't vote. Fair enough, this question is for the voters.)

Yes, some of us are guilty of not fighting back. We had "Shut up and do as you're told" and "Well, if you're not happy with what you've got then work harder" beaten into us. Some of us are a little awake because, despite all our efforts, the grind stone was removed from us and then we got to see the larger picture of what lies behind the grind stone. Others are still busy, nose to the wheel, and all they see is the wheel.

And that is before we even consider HypnoToad on the Idiot Box. Some "need" the idiot box to help them wind down. Some can no longer enjoy the silence. (Remember Brave New World? It's true. Many people can no longer stand to be around silence, with nothing but their own thoughts.) I tell everyone that TV is crap. Radio is crap. Newspapers are crap. Turn that shit off for six months to a year, then go back to it and see what you really think of it. But they can't handle the thought of being away from "the background noise".

Ever spoken to grandparents who remember wars and depressions? And even amongst the rations and the hardships they still find positive memories? Time to talk to them again. Or not. I guess we'll get first-hand experience soon enough.

AlaricBalth

Allow me for a moment to share a brief anecdote about the new "American Character".

Last Sunday I was at the local supermarket. I was at the bakery counter, when suddenly a nicely dressed, Sunday best, non-Caucasian woman barrels into my cart riding a fat scooter. She rudely demands from the counter person a single cinnamon bun and then wheels off towards the front. Curious, I follow her up the aisle as she scarfs down the pastry in three bites. She then proceeds to stuff the empty bag between some soda bottles and scooters through the checkout without paying for her item. In the parking lot she then disembarks from her scooter, easily lifts it into the trunk of her Cadillac and walks to the drivers side, gets in and speeds off with her kids, who were in the back seat.

Amazed at what I had just witnessed, I went back into the store, retrieved the empty bag, included it in my few items at checkout and then went to the manager to share this story with him. He laughed and said there was nothing he could do.

The new "American Character" is that of a sense of entitlement and apathy.
I weep for the future.

Headbanger

Having character is not politically correct. Plus there's no need to develop character anymore because there's no jobs requiring any!

Consumption is the ONLY value of the inDUHvidual today.

And the less character they have, the more shit they'll consume to feel fulfilled cause they can't get that from themselves.

clymer Sat, 07/25/2015 - 07:34

Macholatte, i don't think PCR is writing from a point of view that is haughty and contemptful of the American people, per se, but rather from a perspective that is hopeless and thoroughly depressed after contemplating what the American people of many generations ago has taken for themselves as natural rights from a tyrranical government, only to see the nation slowly morph into something even worse than what was rejected by the founders.

"A nation can survive its fools and even the ambitious. But it cannot survive treason from within...
He rots the soul of a nation; he works secretly and unknown in the night to undermine the pillars of a city; he infects the body politic so that it can no longer resist."

ThroxxOfVron

"The loss of character means the loss of liberty and the transformation of government into a criminal enterprise. "

"I think that happened August 13, 1971 "

The entirety of the Western Hemisphere, not just 'The United States', was seized by invaders from Europe.

It is not an 'American' disease: it is a European disease and always was.

The indiginous populations of the Western Hemisphere were suystemaically and with forethought expropriated, ensalved, and slaughtered. The indiginous persons that dwelled within the geographical domain that presently comprise the USA were still being margialized, forcibly relocated, and murdered, long after the so-called 'American Civil War' had been decided.

...& As much as it is fashionable and/or politically expedient to vilify and blame the 'white' Europeans both for this history and extenuate that history to inform the present state of affairs, the Dutch, the French, the Portuguese, and the Spanish ( most eggregiously IMHO) were brutal and savage.

Look at the demographics of the Western Hemisphere.

If you have a shred of honesty you just can't hang the blame on 'whites', put it on a bumper sticker or a #shittyhashtagmeme and go back to fucking off.

The disgusting fraud of Manifest Destiny was a fig leaf to hide the enormity of these crimes; but, they are most obviously European crimes.

...& has Europe changed since the West was settled? Did Europeans even stop their warring amonsgst themselves?

See for yourself: https://en.wikipedia.org/wiki/List_of_conflicts_in_Europe

That would be: Hell NO.

Neither in Europe itself, nor in the settled West.

The Pacific Ocean wasn't named for calm waters.

It was named thusly because it is the natural geographic boundary where the mayhem and brutality and genocide ceased, if only because the greedy and ruthless Europeans had run out of land in the Western Hemisphere with people upon it to plunder and murder...

El Vaquero

The US will collapse within the next decade if some serious new technology is not developed and the infrastructure to use it is put in. There is too much debt and not enough material resources to continue growing the ponzi scheme that is our monetary system at an exponential rate without something breaking. The question is, will it be at the end of this boom-bust cycle, or the next? And if you look at what is being done on the financial front, which is the backbone of our neo-empire, that is shrinking.

The USD is slowly falling out of favor. There will come a point where that rapidly accelerates. We've been in a state of collapse for 15 years.


Abitdodgie

ignorance is choice these days and Americans love it.

AetosAeros

Not only a choice, but the ONLY choice they are prepared to accept. Cognitive Dissonance at it's finest. And to make matters worse, in only the best American fashion, we've asked if if it can be Supersized to go along with the Freedom Lies we feed ourselves.

I've seen the enemy, and....

But only if I'm willing to look in the mirror. Today's American doesn't look for what's right there in front of him/her, we look for all the new 'Social Norms' that we aren't living up to. This article is completely on target, and I hope Roberts hasn't decided to do any remodeling, cause too many idle nails guns make for a great Evening News sidebar mention.

Damnit all to hell.

Fun Facts

Fun Facts's picture

Rubicon727

We educators began seeing this shift towards "me-ism" around 1995-6. Students from low to middle income families became either apathetic towards "education" or followed their parent's sense of "entitlement." Simultaneously, the tech age captured both population's attention. Respecting "an education" dwindled.

Fast forward to the present: following the 2007-8 crash, we noted clear divisions between low income vs middle/upper class students based on their school behavior. Low to slightly middle income students brought to school family tensions and the turmoil of parents losing their jobs. A rise in non-functioning students increase for teachers while the few well performing students decline significantly.

Significant societal, financial shifts in America can always be observed in the student population.

reader2010

Mission Accomplished.

"When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby-talk, when, in short, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk; a culture-death is a clear possibility."

- Neil Postman, Amusing Ourselves to Death: Public Discourse in the Age of Show Business, 1985

Lea

"The American people have been scientifically mis-educated".

You've got the answer there. The education system is the root cause of the problem. I'm from Europe, but if I've understood correctly, the US education policy is to teach as little as possible to children, and expect them to fill in the gaps in the Universities, past a certain age.

Only, it can't work. Children WILL learn, as childhood is the time when most informations are stored. If the schools don't provide the knowledge, they will get it from the television, movies or games, with the consequences we can see: ignorance, obsession with TV and movies stars, inability to differentiate life from movies, and over-simplistic reasoning (if any).

In Europe, we knew full well children learn fast and a lot, and that was why the schools focused on teaching them as much general knowldge as possible before 18 years old, which is when - it is scientifically proved - the human brain learns best.

Recently, the EU leading countries have understood that having educated masses doesn't pay if you want to lead them like sheep, so they are perfidiously trying to lower the standards... to the dismay of parents.

My advice, if I may presume to give any, would be to you USA people: teach your children what they won't learn at school, history, geography, literature (US, European and even Asian, why not), a foreign language if you can, arts, music, etc; and keep them away from the TV, movies and games.

And please adapt what you teach them to their age.

Refuse-Resist

Bang on! One anecdotal example: insisting that all 3rd graders use calculators "to learn" their multiplication tables. If I didn't do flashcards at home with my kids they wouldn't know them. As somebody who majored in engineering and took many many advanced math courses, I always felt that knowing your 'times tables' was essential to being successful in math.

What better way to dumb down otherwise intelligent children by creating a situation where the kid can't divide 32 by 4 without a calculator. Trigonometry? Calculus? Linear Algebra? Fuggedaboudit.

doctor10

The CB's and MIC have Americans right where they want them. the consequences of 3-4 generations of force feeding Santa Claus and the Easter Bunny

ThroxxOfVron

Some of US were never fucking asleep. Some of us were born with our eyes and minds open. We were, and are: hated, and reviled, and marginalized, and disowned for it. The intellectual repression was, and is, fucking insane and brutal. Words such as ethics and logic exist for what purpose? What are these expressions of? A bygone time? Abstractions?

Those that have tried to preserve their self awareness, empathy, and rationality have been ruthlessly systematically demeaned and condemed for confronting our families, our culture and institutions. We all have a right to be angry and disgusted and distrustful of the people and institutions around us. I am very fucking angry, and disgusted, and distrustful of the people and institutions around me.

But I still have hope. Nothing lasts forever.. This self-righteous nation called The United States, this twisted fraud of a culture called America, is most dangerously overdue for receipt of chastisment and retribution. It would be best if the citizenry of the United States taught themselves a lesson in stead of inviting Other nations and cultures to educate them.

A serious self education may be tedious and imperfect; but, it would be far far cheaper than forcing someone to come all the way over those oceans to educate Americans at the price they will be demanding for those lessons...

I do not require representation. I will speak my own mind and act of my own accord.

Every time other so-called Americans take a shit on me for thinking and speaking and acting differently it is a badge of honor and a confirmation of my spiritual and intellectual liberty. They don't know it but they are all gonna run out of shit before I run out of being free.

ThroxxOfVron

"The loss of character means the loss of liberty and the transformation of government into a criminal enterprise. "

"I think that happened August 13, 1971 "

The entirety of the Western Hemisphere, not just 'The United States', was seized by invaders from Europe. It is not an 'American' disease: it is a European disease and always was.

The indiginous populations of the Western Hemisphere were suystemaically and with forethought expropriated, ensalved, and slaughtered. The indiginous persons that dwelled within the geographical domain that presently comprise the USA were still being margialized, forcibly relocated, and murdered, long after the so-called 'American Civil War' had been decided.

...& As much as it is fashionable and/or politically expedient to vilify and blame the 'white' Europeans both for this history and extenuate that history to inform the present state of affairs, the Dutch, the French, the Portuguese, and the Spanish ( most eggregiously IMHO) were brutal and savage.

Look at the demographics of the Western Hemisphere. If you have a shred of honesty you just can't hang the blame on 'whites', put it on a bumper sticker or a #shittyhashtagmeme and go back to fucking off. The disgusting fraud of Manifest Destiny was a fig leaf to hide the enormity of these crimes; but, they are most obviously European crimes....& has Europe changed since the West was settled? Did Europeans even stop their warring amongst themselves?

See for yourself: https://en.wikipedia.org/wiki/List_of_conflicts_in_Europe

That would be: Hell NO. Neither in Europe itself, nor in the settled West. The Pacific Ocean wasn't named for calm waters. It was named thusly because it is the natural geographic boundary where the mayhem and brutality and genocide ceased, if only because the greedy and ruthless Europeans had run out of land in the Western Hemisphere with people upon it to plunder and murder...

Mini-Me

"The loss of character means the loss of liberty and the transformation of government into a criminal enterprise."

I agree with the first part. As for the latter, "government," by definition, is a criminal enterprise. It doesn't start out pure as the driven snow and then change into something nefarious over time. Its very essence requires the initiation of violence or its threat. Government without the gun in the ribs is a contradiction.

The fact that those in power got more votes than the losing criminals does not magically morph these people into paragons of virtue. They are almost without exception thoroughly deranged human beings. Lying is second nature to them. Looting is part of the job description. Killing is an end to their means: the acquisition and aggrandizement of power over others, no matter how much death and destruction results.

These people are sick bastards. To expect something virtuous from them after an endless string of wanton slaughter, theft and abuse, is simply wishful thinking.

Jack Burton

I agree with Paul Craig Roberts. He asks "Why" and "How." Well, Paul, here is my answer. Decades of Public Education and over 50 years of mass media monopoly. In an age where FOX is the top rated News station and CNN is considered liberal? Where kids in Public school are offered Chocolate milk and frozen pizza for school breakfast before going to class rooms with 30-40 kids. When Texas political appointees chose school text book content for the nation? A nation where service has ended, replaced with volunteer soldiers signing up for pay and benefits, instead of just serving as service, like we did in the 70's?

Paul Craig Roberts points out the police war against the people. That comes right from the very top, orders filter down to street cops. Street Cops are recruited from groups of young men our fathers generation would have labeled mental! But now they are hired across the board, shaved heads, tatoos, and a code of silence and Cops Above Justice.

The people have allowed the elites to rule in their place, never bothering to question the two fake candidates we are allowed to vote for.

Jtrillian

There is a difference between IGNORANCE and STUPIDITY. As Ron White said, "YOU CAN'T FIX STUPID". In todays information age, ignorance is a choice.

Part of the problem that no one is talking about or addressing is the population explosion. And it's not linear. Those who are the least educated, fully dependent others for their survival (welfare), the most complacent, and often with violent criminal records are breeding the fastest.

Evolution is not guaranteed. It can be argued that the apathy we experience today is a sign of the human race de-evolving. It takes a certain amount of cognitive ability to observe and question what is going on.

Further, the society we have created where "60 is the new 40" creates very little time to pay attention to what is going on in the world. Many people rely on mainstream media which is not really news any more. When six corporations control more than 90% of the news, it's the message of the corporate elite that we are fed. This becomes painfully obvious when you start turning to other sources for information like social media and independent news. Mainstream media today is full of opinion bias - injecting opinion as though it were fact. They also appeal to the lowest commmon denominator by focusing on emotionally charged topics and words rather than boring facts. Finally, the mainstream media is extremely guilty of propaganda by omission, ignoring important events altogether or only presenting one side of the story as is being done with regard to ISIS, Syria, and Ukraine today. People who watch the mainstream media have no idea that the US played a significant role in arming ISIS and aided in their rise to power. They have no idea that it was likely ISIS that used chemical weapons in Syria. They have no idea that the US has propped up real life neo nazis in high government positions in Ukraine. And they have ignored the continuing Fukushima disaster that is STILL dumping millions of gallons of radioactive water into the ocean every single day.

To sum up, democracies only work when people pay attention and participate. People are either too stupid, too overworked, are are looking to the wrong sources for information.

Until we break up mainstream media, remove incentives for those who cannot even care for themselves to stop breeding, and make fundamental changes to our society that affords people the time to focus on what is happening in the world, it will only get worse.

Much worse.

serotonindumptruck

A dying empire is like a wounded, cornered animal.

It will lash out uncontrollably and without remorse in a futile effort to save itself from certain death.

Enough Already

The problem is that we have no "Constitution." That is a fable. The constitution of the separation of powers has been undermined from almost day one. Witness the Alien and Sedition Acts of 1798.

In the centuries since then, there has been no "separation of powers." Marbury v Madison (1803) gave the Supreme Court the right to "decide" what the "law" was. Although, only in the 20th century did the "Supreme" court really start "legislating" from the bench.

We're just peons to the Overall Federal Power; the three "separate" parts of the federal government have been in collusion from the first. But like all empires, this one is in the final stage of collapse; it has just gotten too big.

gswifty

Yes sir. Globalization has failed us. The infinite growth paradigm has failed us, as we knew it would. Castro's Cuba, based in a localized agrarian economy, is looking pretty good about now. Localization is the only way back to sustainability.

napples

Books? Who said books? You mean reading books? Let me throw a couple out there: I read 'The Image: A Guide To Pseudo-Events In America' last year, it was published 50+ years ago by a very recommended writer and accomplished historian. Boorstin's observations are truer today and even more concerning thanks to our modern, ubiquitous "connectivity". http://www.goodreads.com/book/show/159979.The_Image

Another by Boorstin, The Discoverers was my fav, like Bryson's 'Short History' on steroids:

https://en.wikipedia.org/wiki/Daniel_J._Boorstin

I'm currently trying to fathom all of the historical implications of the claims Menzies is making in his book '1434', where apparently everything I learned about history is a lie. While he's making a lot of claims(hoping some sticks?) I'm not truly convinced. It is a very good, believable thought experiment. It almost makes perfect sense given the anglo/euro history of deceit & dishonesty, but I digress:
https://en.wikipedia.org/wiki/Gavin_Menzies

This one took a long time to grok, Dr Mandelbrot tried to warn us:
http://www.goodreads.com/book/show/665134.The_Mis_Behavior_of_Markets#

Benoit's friend & protege tried to warn us too:
https://en.wikipedia.org/wiki/The_Black_Swan_%282007_book%29

Put them together and you get the financial meltdown's 'Don't say we didn't warn you' manifesto from 2006(not a book, but a compelling read):
http://www.ft.com/cms/s/2/5372968a-ba82-11da-980d-0000779e2340.html

OK, I'm tired. Time to unplug.

reader2010

Adorno famously pointed out in 1940 that the "Mass culture is psychoanalysis in reverse." It takes 75 years for someone such as PCR to reiterate. He doesn't blame the masses because he simply points out the fact that Americans are completely ignorant and blindly believe anything MSM spoon-fed to them.

George Orwell once remarked that the average person today is about as naive as was the average person in the Middle Ages. In the Middle Ages people believed in the authority of their religion, no matter what. Today, we believe in the authority of what Adorno called Culture Industry and MSM, no matter what. Today we are indeed in another Dark Age

PoasterToaster

"Americans" are not one person. Individuals are not fungible. Reasoning from the "average American" leads to false conclusions.

reader2010

Jacques Derrida says, "The individualism of technological civilization relies precisely on a misunderstanding of the unique self. It is the individualism of a role and not of a person. In other words it might be called the individualism of a masque or persona, a character [personnage] and not a person." There are many Americans but they all play the same role in the Pursuit of Happiness, aka wage slaves, career slaves, debt slaves, information junkies, and passive consumers.

Moccasin

Paul Craig Roberts believe that the people are capable of creating a better and more just society. Instead the people have voted against their own best interest and overwhelmingly believe the propaganda.

When do the people or the society take responsibility for its greater good or own the crimes of those they put into power?

Blaming the aristocracy or the oligarchs seems like a scapegoat when the people have never stood up to the corruption in a cohesive or concerted way. imho, After a few generations of abuse and corruption the people need to take responsibility for their future. I expect that most will just buy into the charade and live the lie, on that basis as a society we are doomed to live in a corporatocracy fascist state.

Aldous Huxley called it a scientific dictatorship, Edward Bernays referred to us as a herd.

Moccasin

In the USA being white, monied and having the capacity to afford a good education is privileged. To his credit he speaks to the greater population, the 'average citizen' and not the plutocratic class.

MSorciere

What we have is the result of conditioning and commoditizing a population. The country is filled with consumers, not citizens. Teach the acquisition of money and goods as the main goal and individualism as the only acceptable social unit. We end up with a nation of insatiable sociopaths, ruled by power-hungry psychopaths.

Divisive politics, jackbooted authority from the DC scumpond down to the cop on the beat, the constant preaching of the cult of the individual as a sustitute for true liberty... all of these have served to destroy a sense of community and decentness between Americans.

The ONLY thing that could threaten the ruling class is a banding together of the people - in large numbers. 'They' have purposefully and effectively quashed that.

TrulyStupid

Shifting responsibility to the usual suspects is simply a manifestation of the American moral collapse. Man up and do some self evaluation.

T-NUTZ

"what I have noticed for many years is that the American people have lost, in addition to their own sense of truth and falsity, any sense of mercy and justice for other peoples"

Unfortunately, Paul, the American people have lost any sense of mercy and justice for their own people.

https://www.youtube.com/watch?v=DXRDq9nKJ0U

Phillyguy

Painful as it may be, we need to rationally look at US history/society. The nascent US was formed by stealing land from the native population and using human capital (read African Slaves) to generate wealth (it took a civil war with circa 500K casualties to stop this- one could argue the US "civil war" never ended). More recently, the US has been almost continuously at war since 1940, we dropped atomic bombs on Japan. Currently, the US/NATO war theater extends from the Levant, to Caspian Basin, Persian Gulf, China Sea, Indian Ocean, Horn of Africa (Saudi/US war on Yemen), the Maghreb and E Europe and Russian Border.

Radical Marijuana

"... the transformation of government into a criminal enterprise ..."

Governments were created by the history of warfare, which was always organized crime developing on larger and larger scales. In the context, the greater problem is that people like Paul Craig Roberts are reactionary revolutionaries, who provide relatively good analysis, followed by bogus "solutions" based upon impossible ideals.

The "American People" are the victims of the best scientific brainwashing that money could buy. As Cognitive Dissonance has previously stated on Zero Hedge: "The absolute best controlled opposition is one that doesn't know they are controlled."

It is practically impossible to exaggerate the degree to which that is so, on such profound levels, because of the ways that most people want to continue to believe that false fundamental dichotomies and impossible ideals are valid, and should be applied to their problems, despite that those mistaken ideas cause the opposite to happen in the real world, because those who promote those kinds of false fundamental dichotomies and their related impossible ideals, ARE "controlled opposition."

Rather, the place to begin would be by recognizing that all human beings and civilizations must necessarily operate as entropic pumps of energy flows, which necessarily are systems of organized lies operating robberies. Everyone has some power to rob, and power to kill to back that up. Governments assembled and channeled those powers. There was never a time when governments were not organized crime. There could never be any time when governments were not organized crime. The only things that exist are the dynamic equilibria between different systems of organized lies operating robberies. Those dynamic equilibria have become extremely unbalanced due the degree that the best organized gangs of criminals were able to control their opposition.

Paul Craig Roberts, as well as pretty well all of the rest of the content published on Zero Hedge, are presentations of various kinds of controlled opposition groups, most of which do not recognize that they are being controlled by the language that they use, and the philosophy of science that they take for granted. THAT is the greatest failure of the American People, as well as most of the rest of the people everywhere else. They believe in false fundamental dichotomies, and the related impossible ideals, and therefore, their bogus "solutions" always necessarily backfire badly, and cause the opposite to happen in the real world.

After all, the overwhelming vast majority of the American People operate as the controlled opposition to the best organized gangs of criminals that most control the government of the USA. Therefore, the FAILURES of the American People are far more profound and problematic than what is superficially presented by guys like Paul Craig Roberts, and also, of course, his suggested bogus "solutions" are similarly superficial.

The ONLY things which can actually exist are the dynamic equilibrium between different systems of organized lies operating robberies. The degree to which the American People, as well as most of the rest of the people in the world, FAIL to understand that is the degree to which they enable the best organized gangs of criminals to control them, due to the vast majority of people being members of various controlled opposition groups. Controlled opposition always presents relatively superficial analysis of the political problems, which are superficially correct. However, they then follow that up with similarly superficial "solutions." Therefore, magical words are bandied about, that express their dualities, through false fundamental dichotomies, and the related impossible ideals.

Governments must exist because organized crime must exist. Better governments could be achieved through better organized crime. However, mostly what get presented in the public places are the utter bullshit of the biggest bullies, who dominate the society because they were the best organized gangs of criminals, who were also able to dominate their apparent opposition. Therefore, instead of more realistic, better balancing of the dynamic equilibria between different systems of organized lies operating robberies, we get runaway developments of the best organized gangs of criminals being able to control governments, whose only apparent opposition is controlled to stay within the same bullshit frame of reference regarding everything that was actually happening.

The mainline of the FAILURES of the American People have been the ways that the international bankers were able to recapture control over the American public "money" supply. After that, everything else was leveraged up, through the funding of the political processes, schools, and mass media, etc., being more and more dominated by that fundamentally fraudulent financial accounting system. Of course, that FAILURE has now become more than 99% ... Therefore, no political possible ways appear to exist to pull out of that flaming spiral nose dive, since we have already gone beyond the event horizon into that social black hole.

Most of the content on Zero Hedge which is based upon recognizing that set of problems still acts as controlled opposition in that regard too. Therefore, the bogus "solutions" here continue to deliberately ignore that money is necessarily measurement backed by murder. Instead of accepting that, the controlled opposition groups like to promote various kinds of "monetary reforms." However, meanwhile, we are actually already headed towards the established debt slavery systems having generated debt insanities, which are going to provoke death insanities.

In that context, the only realistic resolutions to the real problems would necessarily have to be monetary revolutions, that may emerge out of the future situations, after the runaway debt insanities have provoked death insanities. Indeed, the only genuine solutions to the problems are to develop different death control systems, to back up different debt control systems, which must necessarily be done within the context that governments are the biggest forms of organized crime, controlled by the best organized gangs of criminals.

The various controlled opposition groups do not want to face those social facts. Rather, they continue to want to believe in the dualities expressed as false fundamental dichotomies and the related impossible ideals, which is their greatest overall FAILURE. In my view, the article above by Roberts contained a lot of nostalgic nonsense. There was never a time when there were any governments which were not based on the applications of the principles and methods of organized crime, and there could never be any time in the future when that could be stopped from being the case.

The greatest FAILURE of the American People, as well as most of the rest of the world's people, has been to become so brainwashed to believe in the biggest bullies' bullshit world view, that there is no significant opposition that is not controlled by thinking inside of the box of that bullshit. The government did NOT transform into a criminal enterprise. The government was necessarily ALWAYS a criminal enterprise. That criminal enterprise has become more and more severely UNBALANCED due to the FAILURE of the people to understand that they were actually members of an organized crime gang, called their country. Instead, they were more and more scientifically brainwashed to believe in bullshit about everything, including their country.

The ONLY connection between human laws and the laws of nature is the ability to back up lies with violence. The development of the government of the USA has been the developed of integrated systems of legalized lies, backed by legalized violence. Those systems of ENFORCED FRAUDS have been able to become more extremely unbalanced because there is almost nothing which is publicly significant surrounding that core of organized crime but various controlled opposition groups.

Of course, it seems politically impossible for my recommendations to actually happen within the foreseeable future, as the current systems of debt slavery drive through debt insanities to become death insanities, but nevertheless, the only theoretically valid ideas to raise to respond to the real problems would have to based upon a series of intellectual scientific revolutions. However, since we have apparently run out of time to go through those sorts of paradigm shifts sufficiently, we are stuck in the deepening ruts of political problems which guys like Roberts correctly present to be the case

... HOWEVER, ROBERTS, LIKE ALMOST EVERYONE ELSE, CONTINUE TO PRESUME UPON DUALITIES, AND THEREFORE, HAVE THEIR MECHANISMS REGARDING "SOLUTIONS" ABSURDLY BACKWARDS.

Rather, we should start with the concept of SUBTRACTION, which then leads to robbery. We should start with the recognition that governments are necessarily, by definition, the biggest forms of organized crime. Governments did NOT transform into being that. Governments were always that. The political problems we have now are due to the best organized gangs of criminals, which currently are primarily the biggest gangsters, which can rightly be referred to as the banksters, having dominated all aspects of the funding of politics, enough to capture control over all sociopolitical institutions, so that the American People would more and more be subjected to the best scientific brainwashing that money could buy, which was built on top of thousands of years of previous history of Neolithic Civilizations being based on backing up lies with violence.

The runaway systems of ENFORCED FRAUDS, or the integrated systems of legalized lies, backed by legalized violence, that more and more dominate the lives of the American People are due to the applications of the methods of organized crime, and could not be effectively counter-balanced in any other ways. However, the standing social situation is that there is no publicly significant opposition that is not controlled to stay within the same frame of reference of the biggest bullies, which is now primarily the frame of reference of the banksters. Indeed, to the degree to which people's lives are controlled by the monetary system, they are debt slaves. Moreover, the degree to which they do not understand, and do not want to understand, that money is necessarily measurement backed by murder, then they think like controlled opposition groups, who have their mechanisms absurdly backwards, when they turn from their superficial analysis of what the political problems, to then promote their superficial solutions of those problems.

I AGREE that "Americans need to face the facts." However, those facts are that citizens are members of an organized crime gang, called their country. "Their" country is currently controlled by the best organized gangs of criminals. However, there are no genuine resolutions for those problems other than to develop better organized crime. Since the controlled opposition groups that are publicly significant do not admit any of the deeper levels of the scientific facts regarding human beings and civilizations operating as entropic pumps of energy flows, but rather, continue to perceive all of that in the most absurdly backward ways possible, the current dynamic equilibria between the different systems of organized lies operating robberies continue to become more and more extremely UNBALANCED.

In the case of the article above, Roberts does NOT "face the facts" that governments were always forms of organized crime, and must necessarily be so, because human beings must live as entropic pumps of energy flows. Rather, Roberts tends to illustrate how the controlled opposition takes for granted certain magical words and phrases, such as "Liberty" or "Constitution," that have no adequate operational definitions to connect them to the material world.

We are living inside of an oxymoronic scientific dictatorship, which has applied the progress in science primarily to become better at backing up lies with violence, while refusing to allow scientific methods to admit and address how and why that has been what has actually happened. Therefore, almost all of the language that we use to communicate, as well as almost all of the philosophy of science that we take for granted, was based on the biggest bullies' bullshit, which is now primarily manifested as the banksters' bullshit, as that bullshit developed in America to become ENFORCED FRAUDS.

ALL of the various churches, corporations, and countries are necessarily various systems of organized lies operating robberies. Those which are the biggest now were historically the ones that were the best at doing that. The INTENSE PARADOXES are due to human systems necessarily being organized lies operating robberies, wherein the greatest social successfulness has been achieved by those who were the best professional liars and immaculate hypocrites. That flows throughout ALL of the established systems, which are a core of organized crime, surrounded by controlled opposition groups.

The degree to which the American People, as well as the rest of the world's people, have been more and more scientifically brainwashed to believe in bullshit about governments in particular, and human beings and civilizations in general, is the degree to which the established systems based upon ENFORCED FRAUDS are headed towards some series of psychotic breakdowns. For all practical purposes, it is politically impossible to get enough people to stop acting like incompetent political idiots, and instead start acting more like competent citizens, because they do not understand, and moreover have been conditioned to not want to understand that governments are necessarily organized crime.

Roberts ironically illustrated the deeper nature of the political problems that he also shares, when he perceives that governments have somehow transformed into being criminal enterprise, when governments were always necessarily criminal enterprises. Similarly, with those who recognize that, but then promote the impossible solutions based upon somehow stopping that from being the case, which is as absurdly backwards as stopping human beings from operating as entropic pumps of energy flows, which then also presumes that it would be possible to stop human civilizations from being entropic pumps of energy flows.

Rather, the deeper sorts of intellectual scientific revolutions that we should go through require becoming much more critical of the language that we use to communicate with, and more critical about the philosophy of science that we presumed was correct. Actually, we were collectively brainwashed to believe in the biggest bullies' bullshit, which is as absurdly backwards as it could possibly be. However, due to the collective FAILURES of people to understand that, as reflected by the ways that the core of organized crime is surrounded by nothing which is publicly significant than layers of controlled opposition, there are no reasonable ways to doubt that the established debt slavery systems will continue to drive even worse debt insanities, which will provoke much worse death insanities. Therefore, to be more realistic about the foreseeable future, the development of new death control systems will emerge out of the context of crazy collapses into chaos, wherein the runaway death insanities provide the possible opportunities for new death controls to emerge out of that situation.

Of course, the about 99% FAILURE of the American People to want to understand anything that I have outlined above indicates that the foreseeable future for subsequent generations shall not too likely be catalyzed transformations towards enough people better understanding their political problems, in order to better resolve those problems. Rather, what I mostly expect is for the psychotic breakdowns of the previous systems of ENFORCED FRAUDS to give opportunities to some possible groups of controlled opposition to take advantage of that, to perhaps emerge as the new version of professional liars and immaculate hypocrites, who will be able to operate some new version of organized lies, operating robberies, who may mostly still get away with being some modified versions of still oxymoronic scientific dictatorship, due to social success still being based upon the best available professional liars and immaculate hypocrites, who were able to survive through those transformations, so that the new systems arise from some of the seeds of the old systems.

At the present time, it is extremely difficult to imagine how the human species could possibly reconcile progress in physical science by surpassing that with progress in political science. Rather, what mostly exists now is the core of organized crime, which gets away with spouting the bullshit about itself, such as how the banksters dominate the mass media, and the lives of everyone else who depend upon the established monetary system (which is dominated by the current ways that governments ENFORCE FRAUDS by privately controlled banks), while that core of organized crime has no publicly significant opposition that is not controlled by the ways that they think, which ways stay within the basic bullshit world view, as promoted by the biggest bullies for thousands of years, and as more and more scientifically promoted to brainwash the vast majority of people to believe in that kind of bullshit so completely that it mostly does not occur to them that they are doing that, and certainly almost never occurs to them that they are doing that in the most profoundly absurd and backward ways possible.

That is how and why it is possible for an author like Roberts to correctly point out the ways in which the government of the USA is transforming into being more blatantly based on organized crime ... HOWEVER, Roberts is not willing and able to go through deeper levels of intellectual scientific revolutions, in order to recognize how and why governments were always necessarily manifestations of organized crime. Therefore, as is typically the case, Roberts does not recognize how ironically he recommends that Americans should "face the facts," while he himself does not fully do so.

The whole history of Neolithic Civilizations was social pyramid systems based on being able to back up lies with violence, becoming more sophisticated systems of legalized lies, backed by legalized violence, which currently manifest as the globalized electronic frauds of the banksters, were are backed up by the governments (that those banksters effectively control) having atomic bombs. Those are the astronomically amplified magnitudes of the currently existing combined money/murder systems. Therefore, it appears to be politically impossible at the present time to develop better governments, due to the degree that almost everyone is either a member of the core groups of organized crime, or members of the surrounding layers of groups of controlled opposition, both of which want to stay within the same overall bullshit frame of reference, because, so far, their lives have been socially successful by being professional liars and immaculate hypocrites.

Ironically, I doubt that someone like Roberts, or pretty well everyone else whose material is published on Zero Hedge is able and willing to recognize the degree to which they are actually controlled opposition. Indeed, even more ironically, as I have repeated before, even Cognitive Dissonance, when he previously stated on Zero Hedge: "The absolute best controlled opposition is one that doesn't know they are controlled." DOES NOT "GET IT" regarding the degree to which he too is controlled opposition, even while superficially attempting to recognize and struggle with that situation. (Indeed, of course, that includes me too, since I am still communicating using the English language, which was the natural language that most developed to express the biggest bullies' bullshit world view.)

Overall, I REPEAT, the deeper problems are due to progress in physical science, NOT being surpassed by progress in political science. Instead, while there EXIST globalized electronic frauds, backed by atomic bombs, practically nothing regarding the ways of thinking that made that science and those technologies possible has found any significant expression through political science, because political science would have to go through even more profound paradigm shifts within itself in order to do that.

The INTENSE PARADOXES continue to be the manifestation of the oxymoronic scientific dictatorship, that deliberately refuses to become any more genuinely scientific about itself. Therefore, the banksters have been able to pay for the best scientific brainwashing that money could buy, for generation after generation, in order to more and more brainwash most of the American People to believe in the banksters' bullshit world view. While there exist electronic frauds, backed by atomic bombs, practically nothing regarding the physical science paradigm shifts that made that possible have even the slightest degree of public appreciation within the realms of politics today, which are almost totally dominated by the biggest bullies' bullshit world view, despite that being as absurdly backwards as possible, while the controlled opposition groups, mostly in the form of old-fashioned religions and ideologies, continue to stay within that same bullshit world view, and adamantly refuse to change their perceptual paradigms regarding political problems.

However, I REPEAT, the issues we face are NOT that governments have transformed to become criminal enterprises, but that governments were always necessarily criminal enterprises, which had the power to legalized their own lies, and then back those lies up with legalized violence. Thereby, the best organized criminals, the international bankers, as the biggest gangsters, or the banksters, were able to apply the methods of organized crime through the political processes. Meanwhile, the only "opposition" that was allowed to be publicly significant was controlled, to basically stay within the same bullshit world view, which is what Roberts has done in his series of articles, as well as what is almost always presented in the content published on Zero Hedge.

The NEXT LEVEL of "the need to face the facts" is to recognize that the political economy is based upon ENFORCED FRAUDS, or systems of debt slavery backed by wars based on deceits. However, the NEXT LEVEL "the need to face the facts" is the that the only possible changes are to change the dynamic equilibria between the different systems of organized lies operating robberies, i.e., change those ENFORCED FRAUDS, in ways which CAN NOT STOP THOSE FROM STILL BEING ENFORCED FRAUDS, because of the degree to which money is necessarily measurement backed by murder.

For the American People, as well as the rest of the world's people, to stop being such dismal FAILURES would require them to become more competent citizens. However, at the present time they appear to be totally unable to do that, because they are unwilling to go through the profound paradigm shifts that it would take them to become more competent citizens inside of world where there exist globalized electronic frauds, backed by atomic bombs. The vast majority of the American People would not like to go through the severe cognitive dissonance that would be required, to not only recognize that "their" government was a criminal enterprise, but that it also must be, and that they too must necessarily be members of that organized crime gang. However, without that degree of perceptual paradigm shifts of the political problems, then enough of the American People could not become more competent citizens.

Somehow, most people continue to count on themselves never having to think about how and why progress was achieved in physical science, by going through series of profound paradigm shifts in the ways that we perceived the world. Most people continue to presume that it is not necessary for their perception of politics to go through profound paradigm shifts, that surpass those which have already been achieved in physical science. We continue to live in an oxymoronic scientific dictatorship, that employs science and technology to become better at being dishonest and violent, but does not apply science and technology to "face the facts" about that scientific dictatorship as a whole.

At the present time, technologies which have become trillions of times more capable and powerful are primarily used as special effects within the context of repeating the same old-fashioned, stupid social stories, such as promoted by the biggest bullies, and their surrounding controlled opposition groups. Ironically, especially when it comes to politics, that tends to manifest the most atavistic throwbacks to old-fashioned religions and ideologies being relied upon to propose bogus "solutions," despite that those kinds of social stories adamantly refuse to change their paradigms in light of the profound paradigms shifts which have been achieved in physical science.

The article above was another illustration of the ways that the typical reactionary revolutionaries, Black Sheeple, or controlled opposition groups, respond to recognizing the more and more blatant degrees to which there has been an accelerating "transformation of government into a criminal enterprise." THE PROBLEM IS THAT THEY CONTINUE TO STAY WITHIN THE SAME OLD-FASHIONED BULLSHIT-BASED FRAME OF REFERENCE, INSTEAD, AROUND AND AROUND WE GO, STUCK IN THE SAME DEEPENING RUTS, since they do NOT more fully "face the facts" regarding how and why the only realistic solutions to the real problems would require developing better organized crime. INSTEAD, they continue to promote the same dualities based upon false fundamental dichotomies, and the associate bogus "solutions" based upon impossible ideals ...

Given that overall situation, that there there almost nothing which is publicly significant than the core of organized crime, surrounded by controlled opposition groups, I see no reasonable hopes for the foreseeable material future of a civilization controlled by ENFORCED FRAUDS, since there is no publicly possible ways to develop better dynamic equilibria between the different systems of organized lies operating robberies, since the biggest forms of doing that were most able to get away with pretending that they are not doing that, which was facilitated by their controlled opposition promoting the opinions that nobody should do that, while actually everyone must be doing that.

Roberts' article above, to me, was another typical example of superficially correct analysis, which implies some bogus "solutions" because those are based upon the same superficiality. It is NOT good enough to recognize "transformation of government into a criminal enterprise," unless one goes through deeper levels of analysis regarding how and why that is what actually exists, and then, one should continue to be consistent with that deeper analysis when one turns to proposing genuine solutions to those problems, namely, I REPEAT THAT the only realistic resolutions to the real political problems requires the transformation of government into a better organized criminal enterprise, which ideally should be based upon enough citizens who are competent enough to understand that they are members of an organized crime gang, which should assert themselves to make sure that their country becomes better organized crime.

[Dec 31, 2017] Is [neo]Liberalism a Dying Faith by Pat Buchanan

Highly recommended!
Nationalism really represent a growing threat to neoliberalism. It is clear the the rise of nationalism was caused by the triumph of neoliberalism all over the globe. As neoliberal ideology collapsed in 2008, thing became really interesting now. Looks like 1920th-1940th will be replayed on a new level with the USA neoliberal empire under stress from new challengers instead of British empire.
Rumor about the death of neoliberalism are slightly exaggerated ;-). This social system still has a lot of staying power. you need some external shock like the need of cheap oil (defined as sustainable price of oil over $100 per barrel) to shake it again. Of some financial crisis similar to the crisis of 2008. Currently there is still no alternative social order that can replace it. Collapse of the USSR discredited both socialism even of different flavors then was practiced in the USSR. National socialism would be a step back from neoliberalism.
Notable quotes:
"... The retreat of [neo]liberalism is very visible in Asia. All Southeast Asian states have turned their backs on liberal democracy, especially Indonesia, the Philippines and Myanmar in the last decade. This NYT article notes that liberalism has essentially died in Japan, and that all political contests are now between what the west would consider conservatives: https://www.nytimes.com/2017/10/15/opinion/liberalism-japan-election.html ..."
"... What is today called "Liberalism" and "Conservatism" both are simply corrupted labels applied to the same top-down corporate-fascistic elite rule that I think Mr. Buchanan once referred to as "two wings of the same bird of prey." ..."
"... Nobody at the top cares about 'diversity.' They care about the easy profits that come from ever cheaper labor. 'Diversity' is not suicide but rather murder: instigated by a small number of very powerful people who have decided that the long-term health of their nations and civilization is less important than short-term profits and power. ..."
"... Hillary and Obama are to the right of the President that Buchanan served in his White House. Richard Nixon was to the Left of both Hillary and Obama. I can't even imagine Hillary accepting and signing into law a 'Clean Water Act' or enacting Price Controls to fight inflation. No way. Heck would freeze over before Hillary would do something so against her Banker Backers. ..."
"... It's sure that financial (neo)liberalism was in a growth phase prior to year 2000 (under Greenspan, the "Maestro") with a general belief that the economy could be "fine tuned" with risk eliminated using sophisticated financial instruments, monetary policy etc. ..."
"... If [neo] Liberalism is a package, then two heavy financial blows that shook the whole foundation were the collapse of the dot.com bubble (2000) and the mortgage bubble (2008). ..."
"... And, other (self-serving) neoliberal stories are now seen as false. For example, that the US is an "advanced post-industrial service economy", that out-sourcing would "free up Americans for higher skilled/higher wage employment" or that "the US would always gain from tariff free trade". ..."
"... The basic divide is surely Nationalism (America First) vs. Globalism (Neo-Liberalism), as shown by the last US Presidential election. ..."
"... Neoliberalism, of which the Clintons are acolytes, supports Free Trade and Open Borders. Although it claims to support World Government, in actual fact it supports corporatism. This is explicit in the TPPA Trump vetoed. Under the corporate state, the state controls the corporations, as Don Benito did in Italy. Under corporatism, the corporations tell the state what to do, as has been the case in America since at least the Clinton Presidency. ..."
"... But I recall that Pat B also said neoconservatism was on its way out a few years after Iraq war II and yet it's stronger than ever and its adherents are firmly ensconced in the joint chiefs of staff, the pentagon, Congress and the White House. It's also spawned a close cousin in liberal interventionism. ..."
Oct 01, 2002 | www.unz.com

Asked to name the defining attributes of the America we wish to become, many liberals would answer that we must realize our manifest destiny since 1776, by becoming more equal, more diverse and more democratic -- and the model for mankind's future.

Equality, diversity, democracy -- this is the holy trinity of the post-Christian secular state at whose altars Liberal Man worships.

But the congregation worshiping these gods is shrinking. And even Europe seems to be rejecting what America has on offer.

In a retreat from diversity, Catalonia just voted to separate from Spain. The Basque and Galician peoples of Spain are following the Catalan secession crisis with great interest.

The right-wing People's Party and far-right Freedom Party just swept 60 percent of Austria's vote, delivering the nation to 31-year-old Sebastian Kurz, whose anti-immigrant platform was plagiarized from the Freedom Party. Summarized it is: Austria for the Austrians!

Lombardy, whose capital is Milan, and Veneto will vote Sunday for greater autonomy from Rome.

South Tyrol (Alto Adige), severed from Austria and ceded to Italy at Versailles, written off by Hitler to appease Mussolini after his Anschluss, is astir anew with secessionism. Even the Sicilians are talking of separation.

By Sunday, the Czech Republic may have a new leader, billionaire Andrej Babis. Writes The Washington Post, Babis "makes a sport of attacking the European Union and says NATO's mission is outdated."

Platform Promise: Keep the Muslim masses out of the motherland.

To ethnonationalists, their countrymen are not equal to all others, but superior in rights. Many may nod at Thomas Jefferson's line that "All men are created equal," but they no more practice that in their own nations than did Jefferson in his

... ... ...

European peoples and parties are today using democratic means to achieve "illiberal" ends. And it is hard to see what halts the drift away from liberal democracy toward the restrictive right. For in virtually every nation, there is a major party in opposition, or a party in power, that holds deeply nationalist views.

European elites may denounce these new parties as "illiberal" or fascist, but it is becoming apparent that it may be liberalism itself that belongs to yesterday. For more and more Europeans see the invasion of the continent along the routes whence the invaders came centuries ago, not as a manageable problem but an existential crisis.

To many Europeans, it portends an irreversible alteration in the character of the countries their grandchildren will inherit, and possibly an end to their civilization. And they are not going to be deterred from voting their fears by being called names that long ago lost their toxicity from overuse.

And as Europeans decline to celebrate the racial, ethnic, creedal and cultural diversity extolled by American elites, they also seem to reject the idea that foreigners should be treated equally in nations created for their own kind.

Europeans seem to admire more, and model their nations more, along the lines of the less diverse America of the Eisenhower era, than on the polyglot America of 2017.

And Europe seems to be moving toward immigration polices more like the McCarran-Walter Act of 1950 than the open borders bill that Sen. Edward Kennedy shepherded through the Senate in 1965.

Kennedy promised that the racial and ethnic composition of the America of the 1960s would not be overturned, and he questioned the morality and motives of any who implied that it would.

Jason Liu , October 20, 2017 at 12:02 pm GMT
Yes. Fuck yes.

Liberalism is the naivete of 18th century elites, no different than today. Modernity as you know it is unsustainable, mostly because equality isn't real, identity has value for most humans, pluralism is by definition fractious, and deep down most people wish to follow a wise strongman leader who represents their interests first and not a vague set of universalist values.

Blind devotion to liberal democracy is another one of those times when white people take an abstract concept to weird extremes. It is short-sighted and autistically narrow minded. Just because you have an oppressive king doesn't mean everyone should be equals. Just because there was slavery/genocide doesn't mean diversity is good.

The retreat of [neo]liberalism is very visible in Asia. All Southeast Asian states have turned their backs on liberal democracy, especially Indonesia, the Philippines and Myanmar in the last decade. This NYT article notes that liberalism has essentially died in Japan, and that all political contests are now between what the west would consider conservatives: https://www.nytimes.com/2017/10/15/opinion/liberalism-japan-election.html

Good riddance. The idea that egalitarianism is more advanced than hierarchy has always been false, and flies against the long arc of history. Time for nationalists around the world to smash liberal democracy and build a new modernity based on actual humanism, with respect to hierarchies and the primacy of majorities instead of guilt and pathological compassion dressed up as political ideology.

TG , October 20, 2017 at 1:10 pm GMT
"Liberalism" is not dying. "Liberalism" is dead, and has been since at least 1970.

What is today called "Liberalism" and "Conservatism" both are simply corrupted labels applied to the same top-down corporate-fascistic elite rule that I think Mr. Buchanan once referred to as "two wings of the same bird of prey."

Nobody at the top cares about 'diversity.' They care about the easy profits that come from ever cheaper labor. 'Diversity' is not suicide but rather murder: instigated by a small number of very powerful people who have decided that the long-term health of their nations and civilization is less important than short-term profits and power.

Paul's Ghost , October 20, 2017 at 6:08 pm GMT
Its been dead for nearly 20 years now. Liberalism has long been the Monty Python parrot nailed to its perch. At this point, the term is mainly kept alive in right-wing attacks by people who lack the imagination to change their habitual targets for so long.

To my eye, the last 'liberal' politician died in a susupicious plane crash in 2000 as the Bush Republicans were taking the White House by their famous 5-4 vote/coup and also needed to claim control of the Senate. So, the last authentic 'liberal' Senator, Paul Wellstone of MN was killed in a suspicious plane crash that was never properly explained.

Hillary and Obama are to the right of the President that Buchanan served in his White House. Richard Nixon was to the Left of both Hillary and Obama. I can't even imagine Hillary accepting and signing into law a 'Clean Water Act' or enacting Price Controls to fight inflation. No way. Heck would freeze over before Hillary would do something so against her Banker Backers.

And, at the root, that is the key. The 'Liberals' that the right now rails against are strongly backed and supported by the Wall Street Banks and other corporate leaders. The 'Liberals' have pushed for a government Of the Bankers, By the Bankers and For the Bankers. The 'Liberals' now are in favor of Endless Unconstitutional War around the world.

Which can only mean that the term 'Liberal' has been so completely morphed away from its original meanings to be completely worthless.

The last true Liberal in American politics was Paul Wellstone. And even by the time he died for his sins, he was calling himself a "progressive" because after the Clintons and the Gores had so distorted the term Liberal it was meaningless. Or it had come to mean a society ruled by bankers, a society at constant war and throwing money constantly at a gigantic war machine, a society of censorship where the government needed to control all music lyrics, the same corrupt government where money could by anything from a night in the Lincoln Bedroom to a Presidential Pardon or any other government favor.

Thus, 'Liberals' were a dead movement even by 2000, when the people who actually believed in the American People over the profits of bankers were calling themselves Progressives in disgust at the misuse of the term Liberal. And now, Obama and Hillary have trashed and distorted even the term Progressive into bombing the world 365 days a year and still constantly throwing money at the military machine and the problems it invents.

So, Liberalism is so long dead that if you exumed the grave you'd only find dust. And Pat must be getting senile and just throwing back out the same lines he once wrote as a speechwriter for the last Great Lefty President Richard Nixon.

Miro23 , October 20, 2017 at 6:17 pm GMT

Is Liberalism a Dying Faith?

Another question is whether this is wishful thinking from Pat or some kind of reality.

I think that he's right, that Liberalism is a dying faith, and it's interesting to check the decline.

It's sure that financial (neo)liberalism was in a growth phase prior to year 2000 (under Greenspan, the "Maestro") with a general belief that the economy could be "fine tuned" with risk eliminated using sophisticated financial instruments, monetary policy etc.

If [neo] Liberalism is a package, then two heavy financial blows that shook the whole foundation were the collapse of the dot.com bubble (2000) and the mortgage bubble (2008).

And, other (self-serving) neoliberal stories are now seen as false. For example, that the US is an "advanced post-industrial service economy", that out-sourcing would "free up Americans for higher skilled/higher wage employment" or that "the US would always gain from tariff free trade".

In fact, the borderless global "world is flat" dogma is now seen as enabling a rootless hyper-rich global elite to draw on a sea of globalized serf labour with little or no identity, while their media and SWJ activists operate a scorched earth defense against any sign of opposition.

The basic divide is surely Nationalism (America First) vs. Globalism (Neo-Liberalism), as shown by the last US Presidential election.

reiner Tor , October 20, 2017 at 6:39 pm GMT
@Randal

A useful analogy might be Viktor Orbán. He started out as a leader of a liberal party, Fidesz, but then over time started moving to the right. It is often speculated that he started it for cynical reasons, like seeing how the right was divided and that there was essentially a vacuum there for a strong conservative party, but there's little doubt he totally internalized it. There's also little doubt (and at the time he and a lot of his fellow party leaders talked about it a lot) that as he (they) started a family and having children, they started to realize how conservatism kinda made more sense than liberalism.

With Kurz, there's the possibility for this path. However, he'd need to start a family soon for that to happen. At that age Orbán was already married with children

Verymuchalive , October 20, 2017 at 10:10 pm GMT
@Paul's Ghost

Liberalism ( large L) is indeed long dead.

Neoliberalism, of which the Clintons are acolytes, supports Free Trade and Open Borders. Although it claims to support World Government, in actual fact it supports corporatism. This is explicit in the TPPA Trump vetoed. Under the corporate state, the state controls the corporations, as Don Benito did in Italy. Under corporatism, the corporations tell the state what to do, as has been the case in America since at least the Clinton Presidency.

Richard Nixon was a capitalist, not a corporatist. He was a supporter of proper competition laws, unlike any President since Clinton. Socially, he was interventionist, though this may have been to lessen criticism of his Vietnam policies. Anyway, his bussing and desegregation policies were a long-term failure.

Price Control was quickly dropped, as it was in other Western countries. Long term Price Control, as in present day Venezuela, is economically disastrous.

KenH , October 21, 2017 at 1:51 pm GMT
Let's hope liberalism is a dying faith and that is passes from the Western world. If not it will destroy the West, so if it doesn't die a natural death then we must euthanize it. For the evidence is in and it has begat feminism, anti-white racism, demographic winter, mass third world immigration and everything else that ails the West and has made it the sick and dying man of the world.

But I recall that Pat B also said neoconservatism was on its way out a few years after Iraq war II and yet it's stronger than ever and its adherents are firmly ensconced in the joint chiefs of staff, the pentagon, Congress and the White House. It's also spawned a close cousin in liberal interventionism.

What Pat refers to as "liberalism" is now left wing totalitarianism and anti-white hatred and it's fanatically trying to remain relevant by lashing out and blacklisting, deplatforming, demonetizing, and physically assaulting all of its enemies on the right who are gaining strength much to their chagrin. They resort to these methods because they can't win an honest debate and in a true free marketplace of ideas they lose.

[Dec 24, 2017] Laudato si by Pope Francis

Highly recommended!
Notable quotes:
"... My predecessor Benedict XVI likewise proposed "eliminating the structural causes of the dysfunctions of the world economy and correcting models of growth which have proved incapable of ensuring respect for the environment". [10] He observed that the world cannot be analyzed by isolating only one of its aspects, since "the book of nature is one and indivisible", and includes the environment, life, sexuality, the family, social relations, and so forth. It follows that "the deterioration of nature is closely connected to the culture which shapes human coexistence" ..."
"... Patriarch Bartholomew has spoken in particular of the need for each of us to repent of the ways we have harmed the planet, for "inasmuch as we all generate small ecological damage", we are called to acknowledge "our contribution, smaller or greater, to the disfigurement and destruction of creation". [14] He has repeatedly stated this firmly and persuasively, challenging us to acknowledge our sins against creation: "For human beings to destroy the biological diversity of God's creation; for human beings to degrade the integrity of the earth by causing changes in its climate, by stripping the earth of its natural forests or destroying its wetlands; for human beings to contaminate the earth's waters, its land, its air, and its life – these are sins". [15] For "to commit a crime against the natural world is a sin against ourselves and a sin against God". [16] ..."
"... He asks us to replace consumption with sacrifice, greed with generosity, wastefulness with a spirit of sharing, an asceticism which "entails learning to give, and not simply to give up. It is a way of loving, of moving gradually away from what I want to what God's world needs. It is liberation from fear, greed and compulsion". ..."
"... It is possible that we do not grasp the gravity of the challenges now before us. "The risk is growing day by day that man will not use his power as he should"; in effect, "power is never considered in terms of the responsibility of choice which is inherent in freedom" since its "only norms are taken from alleged necessity, from either utility or security". [85] But human beings are not completely autonomous. Our freedom fades when it is handed over to the blind forces of the unconscious, of immediate needs, of self-interest, and of violence. In this sense, we stand naked and exposed in the face of our ever-increasing power, lacking the wherewithal to control it. We have certain superficial mechanisms, but we cannot claim to have a sound ethics, a culture and spirituality genuinely capable of setting limits and teaching clear-minded self-restraint. ..."
"... Human beings and material objects no longer extend a friendly hand to one another; the relationship has become confrontational. This has made it easy to accept the idea of infinite or unlimited growth, which proves so attractive to economists, financiers and experts in technology. It is based on the lie that there is an infinite supply of the earth's goods, and this leads to the planet being squeezed dry beyond every limit. It is the false notion that "an infinite quantity of energy and resources are available, that it is possible to renew them quickly, and that the negative effects of the exploitation of the natural order can be easily absorbed". ..."
"... We have to accept that technological products are not neutral, for they create a framework which ends up conditioning lifestyles and shaping social possibilities along the lines dictated by the interests of certain powerful groups. Decisions which may seem purely instrumental are in reality decisions about the kind of society we want to build. ..."
"... Technology tends to absorb everything into its ironclad logic, and those who are surrounded with technology "know full well that it moves forward in the final analysis neither for profit nor for the well-being of the human race", that "in the most radical sense of the term power is its motive – a lordship over all". [87] As a result, "man seizes hold of the naked elements of both nature and human nature". [88] Our capacity to make decisions, a more genuine freedom and the space for each one's alternative creativity are diminished. ..."
"... At the same time, we have "a sort of 'superdevelopment' of a wasteful and consumerist kind which forms an unacceptable contrast with the ongoing situations of dehumanizing deprivation", [90] while we are all too slow in developing economic institutions and social initiatives which can give the poor regular access to basic resources. We fail to see the deepest roots of our present failures, which have to do with the direction, goals, meaning and social implications of technological and economic growth. ..."
"... The specialization which belongs to technology makes it difficult to see the larger picture. The fragmentation of knowledge proves helpful for concrete applications, and yet it often leads to a loss of appreciation for the whole, for the relationships between things, and for the broader horizon, which then becomes irrelevant. ..."
"... It becomes difficult to pause and recover depth in life. If architecture reflects the spirit of an age, our megastructures and drab apartment blocks express the spirit of globalized technology, where a constant flood of new products coexists with a tedious monotony. Let us refuse to resign ourselves to this, and continue to wonder about the purpose and meaning of everything. Otherwise we would simply legitimate the present situation and need new forms of escapism to help us endure the emptiness. ..."
"... All of this shows the urgent need for us to move forward in a bold cultural revolution. Science and technology are not neutral; from the beginning to the end of a process, various intentions and possibilities are in play and can take on distinct shapes. Nobody is suggesting a return to the Stone Age, but we do need to slow down and look at reality in a different way, to appropriate the positive and sustainable progress which has been made, but also to recover the values and the great goals swept away by our unrestrained delusions of grandeur. ..."
"... Modern anthropocentrism has paradoxically ended up prizing technical thought over reality, since "the technological mind sees nature as an insensate order, as a cold body of facts, as a mere 'given', as an object of utility, as raw material to be hammered into useful shape; it views the cosmos similarly as a mere 'space' into which objects can be thrown with complete indifference" ..."
"... Once the human being declares independence from reality and behaves with absolute dominion, the very foundations of our life begin to crumble ..."
"... This situation has led to a constant schizophrenia, wherein a technocracy which sees no intrinsic value in lesser beings coexists with the other extreme, which sees no special value in human beings. But one cannot prescind from humanity ..."
"... Nor must the critique of a misguided anthropocentrism underestimate the importance of interpersonal relations. If the present ecological crisis is one small sign of the ethical, cultural and spiritual crisis of modernity, we cannot presume to heal our relationship with nature and the environment without healing all fundamental human relationships. ..."
"... The culture of relativism is the same disorder which drives one person to take advantage of another, to treat others as mere objects, imposing forced labour on them or enslaving them to pay their debts. The same kind of thinking leads to the sexual exploitation of children and abandonment of the elderly who no longer serve our interests. ..."
"... We are convinced that "man is the source, the focus and the aim of all economic and social life". [100] Nonetheless, once our human capacity for contemplation and reverence is impaired, it becomes easy for the meaning of work to be misunderstood. [101] We need to remember that men and women have "the capacity to improve their lot, to further their moral growth and to develop their spiritual endowments". [102] Work should be the setting for this rich personal growth, where many aspects of life enter into play: creativity, planning for the future, developing our talents, living out our values, relating to others ..."
"... it is essential that "we continue to prioritize the goal of access to steady employment for everyone", [103] no matter the limited interests of business and dubious economic reasoning. ..."
"... We were created with a vocation to work. The goal should not be that technological progress increasingly replace human work, for this would be detrimental to humanity. Work is a necessity, part of the meaning of life on this earth, a path to growth, human development and personal fulfilment. Helping the poor financially must always be a provisional solution in the face of pressing needs. The broader objective should always be to allow them a dignified life through work. ..."
"... The loss of jobs also has a negative impact on the economy "through the progressive erosion of social capital: the network of relationships of trust, dependability, and respect for rules, all of which are indispensable for any form of civil coexistence". [104] In other words, "human costs always include economic costs, and economic dysfunctions always involve human costs". [105] To stop investing in people, in order to gain greater short-term financial gain, is bad business for society. ..."
"... In order to continue providing employment, it is imperative to promote an economy which favours productive diversity and business creativity. For example, there is a great variety of small-scale food production systems which feed the greater part of the world's peoples, using a modest amount of land and producing less waste, be it in small agricultural parcels, in orchards and gardens, hunting and wild harvesting or local fishing. Economies of scale, especially in the agricultural sector, end up forcing smallholders to sell their land or to abandon their traditional crops. ..."
"... To ensure economic freedom from which all can effectively benefit, restraints occasionally have to be imposed on those possessing greater resources and financial power. To claim economic freedom while real conditions bar many people from actual access to it, and while possibilities for employment continue to shrink, is to practise a doublespeak which brings politics into disrepute. Business is a noble vocation, directed to producing wealth and improving our world. It can be a fruitful source of prosperity for the areas in which it operates, especially if it sees the creation of jobs as an essential part of its service to the common good. ..."
May 24, 2015 | 5w2.vatican.va

... ... ...

6. My predecessor Benedict XVI likewise proposed "eliminating the structural causes of the dysfunctions of the world economy and correcting models of growth which have proved incapable of ensuring respect for the environment".[10] He observed that the world cannot be analyzed by isolating only one of its aspects, since "the book of nature is one and indivisible", and includes the environment, life, sexuality, the family, social relations, and so forth. It follows that "the deterioration of nature is closely connected to the culture which shapes human coexistence".[11] Pope Benedict asked us to recognize that the natural environment has been gravely damaged by our irresponsible behaviour. The social environment has also suffered damage. Both are ultimately due to the same evil: the notion that there are no indisputable truths to guide our lives, and hence human freedom is limitless. We have forgotten that "man is not only a freedom which he creates for himself. Man does not create himself. He is spirit and will, but also nature".[12] With paternal concern, Benedict urged us to realize that creation is harmed "where we ourselves have the final word, where everything is simply our property and we use it for ourselves alone. The misuse of creation begins when we no longer recognize any higher instance than ourselves, when we see nothing else but ourselves".[13]

United by the same concern

7. These statements of the Popes echo the reflections of numerous scientists, philosophers, theologians and civic groups, all of which have enriched the Church's thinking on these questions. Outside the Catholic Church, other Churches and Christian communities – and other religions as well – have expressed deep concern and offered valuable reflections on issues which all of us find disturbing. To give just one striking example, I would mention the statements made by the beloved Ecumenical Patriarch Bartholomew, with whom we share the hope of full ecclesial communion.

8. Patriarch Bartholomew has spoken in particular of the need for each of us to repent of the ways we have harmed the planet, for "inasmuch as we all generate small ecological damage", we are called to acknowledge "our contribution, smaller or greater, to the disfigurement and destruction of creation".[14] He has repeatedly stated this firmly and persuasively, challenging us to acknowledge our sins against creation: "For human beings to destroy the biological diversity of God's creation; for human beings to degrade the integrity of the earth by causing changes in its climate, by stripping the earth of its natural forests or destroying its wetlands; for human beings to contaminate the earth's waters, its land, its air, and its life – these are sins".[15] For "to commit a crime against the natural world is a sin against ourselves and a sin against God".[16]

9. At the same time, Bartholomew has drawn attention to the ethical and spiritual roots of environmental problems, which require that we look for solutions not only in technology but in a change of humanity; otherwise we would be dealing merely with symptoms. He asks us to replace consumption with sacrifice, greed with generosity, wastefulness with a spirit of sharing, an asceticism which "entails learning to give, and not simply to give up. It is a way of loving, of moving gradually away from what I want to what God's world needs. It is liberation from fear, greed and compulsion".[17] As Christians, we are also called "to accept the world as a sacrament of communion, as a way of sharing with God and our neighbours on a global scale. It is our humble conviction that the divine and the human meet in the slightest detail in the seamless garment of God's creation, in the last speck of dust of our planet".[18]

... ... ...

I. TECHNOLOGY: CREATIVITY AND POWER

... ... ...

105. There is a tendency to believe that every increase in power means "an increase of 'progress' itself", an advance in "security, usefulness, welfare and vigour; an assimilation of new values into the stream of culture",[83] as if reality, goodness and truth automatically flow from technological and economic power as such. The fact is that "contemporary man has not been trained to use power well",[84] because our immense technological development has not been accompanied by a development in human responsibility, values and conscience. Each age tends to have only a meagre awareness of its own limitations. It is possible that we do not grasp the gravity of the challenges now before us. "The risk is growing day by day that man will not use his power as he should"; in effect, "power is never considered in terms of the responsibility of choice which is inherent in freedom" since its "only norms are taken from alleged necessity, from either utility or security".[85] But human beings are not completely autonomous. Our freedom fades when it is handed over to the blind forces of the unconscious, of immediate needs, of self-interest, and of violence. In this sense, we stand naked and exposed in the face of our ever-increasing power, lacking the wherewithal to control it. We have certain superficial mechanisms, but we cannot claim to have a sound ethics, a culture and spirituality genuinely capable of setting limits and teaching clear-minded self-restraint.

II. THE GLOBALIZATION OF THE TECHNOCRATIC PARADIGM

106. The basic problem goes even deeper: it is the way that humanity has taken up technology and its development according to an undifferentiated and one-dimensional paradigm. This paradigm exalts the concept of a subject who, using logical and rational procedures, progressively approaches and gains control over an external object. This subject makes every effort to establish the scientific and experimental method, which in itself is already a technique of possession, mastery and transformation. It is as if the subject were to find itself in the presence of something formless, completely open to manipulation. Men and women have constantly intervened in nature, but for a long time this meant being in tune with and respecting the possibilities offered by the things themselves. It was a matter of receiving what nature itself allowed, as if from its own hand. Now, by contrast, we are the ones to lay our hands on things, attempting to extract everything possible from them while frequently ignoring or forgetting the reality in front of us. Human beings and material objects no longer extend a friendly hand to one another; the relationship has become confrontational. This has made it easy to accept the idea of infinite or unlimited growth, which proves so attractive to economists, financiers and experts in technology. It is based on the lie that there is an infinite supply of the earth's goods, and this leads to the planet being squeezed dry beyond every limit. It is the false notion that "an infinite quantity of energy and resources are available, that it is possible to renew them quickly, and that the negative effects of the exploitation of the natural order can be easily absorbed".[86]

107. It can be said that many problems of today's world stem from the tendency, at times unconscious, to make the method and aims of science and technology an epistemological paradigm which shapes the lives of individuals and the workings of society. The effects of imposing this model on reality as a whole, human and social, are seen in the deterioration of the environment, but this is just one sign of a reductionism which affects every aspect of human and social life. We have to accept that technological products are not neutral, for they create a framework which ends up conditioning lifestyles and shaping social possibilities along the lines dictated by the interests of certain powerful groups. Decisions which may seem purely instrumental are in reality decisions about the kind of society we want to build.

108. The idea of promoting a different cultural paradigm and employing technology as a mere instrument is nowadays inconceivable. The technological paradigm has become so dominant that it would be difficult to do without its resources and even more difficult to utilize them without being dominated by their internal logic. It has become countercultural to choose a lifestyle whose goals are even partly independent of technology, of its costs and its power to globalize and make us all the same. Technology tends to absorb everything into its ironclad logic, and those who are surrounded with technology "know full well that it moves forward in the final analysis neither for profit nor for the well-being of the human race", that "in the most radical sense of the term power is its motive – a lordship over all".[87] As a result, "man seizes hold of the naked elements of both nature and human nature".[88] Our capacity to make decisions, a more genuine freedom and the space for each one's alternative creativity are diminished.

109. The technocratic paradigm also tends to dominate economic and political life. The economy accepts every advance in technology with a view to profit, without concern for its potentially negative impact on human beings. Finance overwhelms the real economy. The lessons of the global financial crisis have not been assimilated, and we are learning all too slowly the lessons of environmental deterioration. Some circles maintain that current economics and technology will solve all environmental problems, and argue, in popular and non-technical terms, that the problems of global hunger and poverty will be resolved simply by market growth. They are less concerned with certain economic theories which today scarcely anybody dares defend, than with their actual operation in the functioning of the economy. They may not affirm such theories with words, but nonetheless support them with their deeds by showing no interest in more balanced levels of production, a better distribution of wealth, concern for the environment and the rights of future generations. Their behaviour shows that for them maximizing profits is enough. Yet by itself the market cannot guarantee integral human development and social inclusion.[89] At the same time, we have "a sort of 'superdevelopment' of a wasteful and consumerist kind which forms an unacceptable contrast with the ongoing situations of dehumanizing deprivation",[90] while we are all too slow in developing economic institutions and social initiatives which can give the poor regular access to basic resources. We fail to see the deepest roots of our present failures, which have to do with the direction, goals, meaning and social implications of technological and economic growth.

110. The specialization which belongs to technology makes it difficult to see the larger picture. The fragmentation of knowledge proves helpful for concrete applications, and yet it often leads to a loss of appreciation for the whole, for the relationships between things, and for the broader horizon, which then becomes irrelevant. This very fact makes it hard to find adequate ways of solving the more complex problems of today's world, particularly those regarding the environment and the poor; these problems cannot be dealt with from a single perspective or from a single set of interests. A science which would offer solutions to the great issues would necessarily have to take into account the data generated by other fields of knowledge, including philosophy and social ethics; but this is a difficult habit to acquire today. Nor are there genuine ethical horizons to which one can appeal. Life gradually becomes a surrender to situations conditioned by technology, itself viewed as the principal key to the meaning of existence. In the concrete situation confronting us, there are a number of symptoms which point to what is wrong, such as environmental degradation, anxiety, a loss of the purpose of life and of community living. Once more we see that "realities are more important than ideas".[91]

111. Ecological culture cannot be reduced to a series of urgent and partial responses to the immediate problems of pollution, environmental decay and the depletion of natural resources. There needs to be a distinctive way of looking at things, a way of thinking, policies, an educational programme, a lifestyle and a spirituality which together generate resistance to the assault of the technocratic paradigm. Otherwise, even the best ecological initiatives can find themselves caught up in the same globalized logic. To seek only a technical remedy to each environmental problem which comes up is to separate what is in reality interconnected and to mask the true and deepest problems of the global system.

112. Yet we can once more broaden our vision. We have the freedom needed to limit and direct technology; we can put it at the service of another type of progress, one which is healthier, more human, more social, more integral. Liberation from the dominant technocratic paradigm does in fact happen sometimes, for example, when cooperatives of small producers adopt less polluting means of production, and opt for a non-consumerist model of life, recreation and community. Or when technology is directed primarily to resolving people's concrete problems, truly helping them live with more dignity and less suffering. Or indeed when the desire to create and contemplate beauty manages to overcome reductionism through a kind of salvation which occurs in beauty and in those who behold it. An authentic humanity, calling for a new synthesis, seems to dwell in the midst of our technological culture, almost unnoticed, like a mist seeping gently beneath a closed door. Will the promise last, in spite of everything, with all that is authentic rising up in stubborn resistance?

113. There is also the fact that people no longer seem to believe in a happy future; they no longer have blind trust in a better tomorrow based on the present state of the world and our technical abilities. There is a growing awareness that scientific and technological progress cannot be equated with the progress of humanity and history, a growing sense that the way to a better future lies elsewhere. This is not to reject the possibilities which technology continues to offer us. But humanity has changed profoundly, and the accumulation of constant novelties exalts a superficiality which pulls us in one direction. It becomes difficult to pause and recover depth in life. If architecture reflects the spirit of an age, our megastructures and drab apartment blocks express the spirit of globalized technology, where a constant flood of new products coexists with a tedious monotony. Let us refuse to resign ourselves to this, and continue to wonder about the purpose and meaning of everything. Otherwise we would simply legitimate the present situation and need new forms of escapism to help us endure the emptiness.

114. All of this shows the urgent need for us to move forward in a bold cultural revolution. Science and technology are not neutral; from the beginning to the end of a process, various intentions and possibilities are in play and can take on distinct shapes. Nobody is suggesting a return to the Stone Age, but we do need to slow down and look at reality in a different way, to appropriate the positive and sustainable progress which has been made, but also to recover the values and the great goals swept away by our unrestrained delusions of grandeur.

III. THE CRISIS AND EFFECTS OF MODERN ANTHROPOCENTRISM

115. Modern anthropocentrism has paradoxically ended up prizing technical thought over reality, since "the technological mind sees nature as an insensate order, as a cold body of facts, as a mere 'given', as an object of utility, as raw material to be hammered into useful shape; it views the cosmos similarly as a mere 'space' into which objects can be thrown with complete indifference".[92] The intrinsic dignity of the world is thus compromised. When human beings fail to find their true place in this world, they misunderstand themselves and end up acting against themselves: "Not only has God given the earth to man, who must use it with respect for the original good purpose for which it was given, but, man too is God's gift to man. He must therefore respect the natural and moral structure with which he has been endowed".[93]

116. Modernity has been marked by an excessive anthropocentrism which today, under another guise, continues to stand in the way of shared understanding and of any effort to strengthen social bonds. The time has come to pay renewed attention to reality and the limits it imposes; this in turn is the condition for a more sound and fruitful development of individuals and society. An inadequate presentation of Christian anthropology gave rise to a wrong understanding of the relationship between human beings and the world. Often, what was handed on was a Promethean vision of mastery over the world, which gave the impression that the protection of nature was something that only the faint-hearted cared about. Instead, our "dominion" over the universe should be understood more properly in the sense of responsible stewardship.[94]

117. Neglecting to monitor the harm done to nature and the environmental impact of our decisions is only the most striking sign of a disregard for the message contained in the structures of nature itself. When we fail to acknowledge as part of reality the worth of a poor person, a human embryo, a person with disabilities – to offer just a few examples – it becomes difficult to hear the cry of nature itself; everything is connected. Once the human being declares independence from reality and behaves with absolute dominion, the very foundations of our life begin to crumble, for "instead of carrying out his role as a cooperator with God in the work of creation, man sets himself up in place of God and thus ends up provoking a rebellion on the part of nature".[95]

118. This situation has led to a constant schizophrenia, wherein a technocracy which sees no intrinsic value in lesser beings coexists with the other extreme, which sees no special value in human beings. But one cannot prescind from humanity. There can be no renewal of our relationship with nature without a renewal of humanity itself. There can be no ecology without an adequate anthropology. When the human person is considered as simply one being among others, the product of chance or physical determinism, then "our overall sense of responsibility wanes".[96] A misguided anthropocentrism need not necessarily yield to "biocentrism", for that would entail adding yet another imbalance, failing to solve present problems and adding new ones. Human beings cannot be expected to feel responsibility for the world unless, at the same time, their unique capacities of knowledge, will, freedom and responsibility are recognized and valued.

119. Nor must the critique of a misguided anthropocentrism underestimate the importance of interpersonal relations. If the present ecological crisis is one small sign of the ethical, cultural and spiritual crisis of modernity, we cannot presume to heal our relationship with nature and the environment without healing all fundamental human relationships. Christian thought sees human beings as possessing a particular dignity above other creatures; it thus inculcates esteem for each person and respect for others. Our openness to others, each of whom is a "thou" capable of knowing, loving and entering into dialogue, remains the source of our nobility as human persons. A correct relationship with the created world demands that we not weaken this social dimension of openness to others, much less the transcendent dimension of our openness to the "Thou" of God. Our relationship with the environment can never be isolated from our relationship with others and with God. Otherwise, it would be nothing more than romantic individualism dressed up in ecological garb, locking us into a stifling immanence.

120. Since everything is interrelated, concern for the protection of nature is also incompatible with the justification of abortion. How can we genuinely teach the importance of concern for other vulnerable beings, however troublesome or inconvenient they may be, if we fail to protect a human embryo, even when its presence is uncomfortable and creates difficulties? "If personal and social sensitivity towards the acceptance of the new life is lost, then other forms of acceptance that are valuable for society also wither away".[97]

121. We need to develop a new synthesis capable of overcoming the false arguments of recent centuries. Christianity, in fidelity to its own identity and the rich deposit of truth which it has received from Jesus Christ, continues to reflect on these issues in fruitful dialogue with changing historical situations. In doing so, it reveals its eternal newness.[98]

Practical relativism

122. A misguided anthropocentrism leads to a misguided lifestyle. In the Apostolic Exhortation Evangelii Gaudium, I noted that the practical relativism typical of our age is "even more dangerous than doctrinal relativism".[99] When human beings place themselves at the centre, they give absolute priority to immediate convenience and all else becomes relative. Hence we should not be surprised to find, in conjunction with the omnipresent technocratic paradigm and the cult of unlimited human power, the rise of a relativism which sees everything as irrelevant unless it serves one's own immediate interests. There is a logic in all this whereby different attitudes can feed on one another, leading to environmental degradation and social decay.

123. The culture of relativism is the same disorder which drives one person to take advantage of another, to treat others as mere objects, imposing forced labour on them or enslaving them to pay their debts. The same kind of thinking leads to the sexual exploitation of children and abandonment of the elderly who no longer serve our interests. It is also the mindset of those who say: Let us allow the invisible forces of the market to regulate the economy, and consider their impact on society and nature as collateral damage. In the absence of objective truths or sound principles other than the satisfaction of our own desires and immediate needs, what limits can be placed on human trafficking, organized crime, the drug trade, commerce in blood diamonds and the fur of endangered species? Is it not the same relativistic logic which justifies buying the organs of the poor for resale or use in experimentation, or eliminating children because they are not what their parents wanted? This same "use and throw away" logic generates so much waste, because of the disordered desire to consume more than what is really necessary. We should not think that political efforts or the force of law will be sufficient to prevent actions which affect the environment because, when the culture itself is corrupt and objective truth and universally valid principles are no longer upheld, then laws can only be seen as arbitrary impositions or obstacles to be avoided.

The need to protect employment

124. Any approach to an integral ecology, which by definition does not exclude human beings, needs to take account of the value of labour, as Saint John Paul II wisely noted in his Encyclical Laborem Exercens. According to the biblical account of creation, God placed man and woman in the garden he had created (cf. Gen 2:15) not only to preserve it ("keep") but also to make it fruitful ("till"). Labourers and craftsmen thus "maintain the fabric of the world" (Sir 38:34). Developing the created world in a prudent way is the best way of caring for it, as this means that we ourselves become the instrument used by God to bring out the potential which he himself inscribed in things: "The Lord created medicines out of the earth, and a sensible man will not despise them" (Sir 38:4).

125. If we reflect on the proper relationship between human beings and the world around us, we see the need for a correct understanding of work; if we talk about the relationship between human beings and things, the question arises as to the meaning and purpose of all human activity. This has to do not only with manual or agricultural labour but with any activity involving a modification of existing reality, from producing a social report to the design of a technological development. Underlying every form of work is a concept of the relationship which we can and must have with what is other than ourselves. Together with the awe-filled contemplation of creation which we find in Saint Francis of Assisi, the Christian spiritual tradition has also developed a rich and balanced understanding of the meaning of work, as, for example, in the life of Blessed Charles de Foucauld and his followers.

126. We can also look to the great tradition of monasticism. Originally, it was a kind of flight from the world, an escape from the decadence of the cities. The monks sought the desert, convinced that it was the best place for encountering the presence of God. Later, Saint Benedict of Norcia proposed that his monks live in community, combining prayer and spiritual reading with manual labour (ora et labora). Seeing manual labour as spiritually meaningful proved revolutionary. Personal growth and sanctification came to be sought in the interplay of recollection and work. This way of experiencing work makes us more protective and respectful of the environment; it imbues our relationship to the world with a healthy sobriety.

127. We are convinced that "man is the source, the focus and the aim of all economic and social life".[100] Nonetheless, once our human capacity for contemplation and reverence is impaired, it becomes easy for the meaning of work to be misunderstood.[101] We need to remember that men and women have "the capacity to improve their lot, to further their moral growth and to develop their spiritual endowments".[102] Work should be the setting for this rich personal growth, where many aspects of life enter into play: creativity, planning for the future, developing our talents, living out our values, relating to others, giving glory to God. It follows that, in the reality of today's global society, it is essential that "we continue to prioritize the goal of access to steady employment for everyone",[103] no matter the limited interests of business and dubious economic reasoning.

128. We were created with a vocation to work. The goal should not be that technological progress increasingly replace human work, for this would be detrimental to humanity. Work is a necessity, part of the meaning of life on this earth, a path to growth, human development and personal fulfilment. Helping the poor financially must always be a provisional solution in the face of pressing needs. The broader objective should always be to allow them a dignified life through work. Yet the orientation of the economy has favoured a kind of technological progress in which the costs of production are reduced by laying off workers and replacing them with machines. This is yet another way in which we can end up working against ourselves. The loss of jobs also has a negative impact on the economy "through the progressive erosion of social capital: the network of relationships of trust, dependability, and respect for rules, all of which are indispensable for any form of civil coexistence".[104] In other words, "human costs always include economic costs, and economic dysfunctions always involve human costs".[105] To stop investing in people, in order to gain greater short-term financial gain, is bad business for society.

129. In order to continue providing employment, it is imperative to promote an economy which favours productive diversity and business creativity. For example, there is a great variety of small-scale food production systems which feed the greater part of the world's peoples, using a modest amount of land and producing less waste, be it in small agricultural parcels, in orchards and gardens, hunting and wild harvesting or local fishing. Economies of scale, especially in the agricultural sector, end up forcing smallholders to sell their land or to abandon their traditional crops. Their attempts to move to other, more diversified, means of production prove fruitless because of the difficulty of linkage with regional and global markets, or because the infrastructure for sales and transport is geared to larger businesses. Civil authorities have the right and duty to adopt clear and firm measures in support of small producers and differentiated production. To ensure economic freedom from which all can effectively benefit, restraints occasionally have to be imposed on those possessing greater resources and financial power. To claim economic freedom while real conditions bar many people from actual access to it, and while possibilities for employment continue to shrink, is to practise a doublespeak which brings politics into disrepute. Business is a noble vocation, directed to producing wealth and improving our world. It can be a fruitful source of prosperity for the areas in which it operates, especially if it sees the creation of jobs as an essential part of its service to the common good.

New biological technologies

130. In the philosophical and theological vision of the human being and of creation which I have presented, it is clear that the human person, endowed with reason and knowledge, is not an external factor to be excluded. While human intervention on plants and animals is permissible when it pertains to the necessities of human life, the Catechism of the Catholic Church teaches that experimentation on animals is morally acceptable only "if it remains within reasonable limits [and] contributes to caring for or saving human lives".[106] The Catechism firmly states that human power has limits and that "it is contrary to human dignity to cause animals to suffer or die needlessly".[107] All such use and experimentation "requires a religious respect for the integrity of creation".[108]

... ... ...

[Dec 15, 2017] Rise and Decline of the Welfare State, by James Petras

Highly recommended!
Petras did not mention that it was Carter who started neoliberalization of the USA. The subsequent election of Reagan signified the victory of neoliberalism in this country or "quite coup". The death of New Deal from this point was just a matter of time. Labor relations drastically changes and war on union and atomization of workforce are a norm.
Welfare state still exists but only for corporation and MIC. Otherwise the New Deal society is almost completely dismanted.
It is true that "The ' New Deal' was, at best, a de facto ' historical compromise' between the capitalist class and the labor unions, mediated by the Democratic Party elite. It was a temporary pact in which the unions secured legal recognition while the capitalists retained their executive prerogatives." But the key factor in this compromise was the existence of the USSR as a threat to the power of capitalists in the USA. when the USSR disappeared cannibalistic instincts of the US elite prevailed over caution.
Notable quotes:
"... The earlier welfare 'reforms' and the current anti-welfare legislation and austerity practices have been accompanied by a series of endless imperial wars, especially in the Middle East. ..."
"... In the 1940's through the 1960's, world and regional wars (Korea and Indo-China) were combined with significant welfare program – a form of ' social imperialism' , which 'buy off' the working class while expanding the empire. However, recent decades are characterized by multiple regional wars and the reduction or elimination of welfare programs – and a massive growth in poverty, domestic insecurity and poor health. ..."
"... modern welfare state' ..."
"... Labor unions were organized as working class strikes and progressive legislation facilitated trade union organization, elections, collective bargaining rights and a steady increase in union membership. Improved work conditions, rising wages, pension plans and benefits, employer or union-provided health care and protective legislation improved the standard of living for the working class and provided for 2 generations of upward mobility. ..."
"... Social Security legislation was approved along with workers' compensation and the forty-hour workweek. Jobs were created through federal programs (WPA, CCC, etc.). Protectionist legislation facilitated the growth of domestic markets for US manufacturers. Workplace shop steward councils organized 'on the spot' job action to protect safe working conditions. ..."
"... World War II led to full employment and increases in union membership, as well as legislation restricting workers' collective bargaining rights and enforcing wage freezes. Hundreds of thousands of Americans found jobs in the war economy but a huge number were also killed or wounded in the war. ..."
"... So-called ' right to work' ..."
"... Trade union officials signed pacts with capital: higher pay for the workers and greater control of the workplace for the bosses. Trade union officials joined management in repressing rank and file movements seeking to control technological changes by reducing hours (" thirty hours work for forty hours pay ..."
"... Trade union activists, community organizers for rent control and other grassroots movements lost both the capacity and the will to advance toward large-scale structural changes of US capitalism. Living standards improved for a few decades but the capitalist class consolidated strategic control over labor relations. While unionized workers' incomes, increased, inequalities, especially in the non-union sectors began to grow. With the end of the GI bill, veterans' access to high-quality subsidized education declined ..."
"... With the election of President Carter, social welfare in the US began its long decline. The next series of regional wars were accompanied by even greater attacks on welfare via the " Volker Plan " – freezing workers' wages as a means to combat inflation. ..."
"... Guns without butter' became the legislative policy of the Carter and Reagan Administrations. The welfare programs were based on politically fragile foundations. ..."
"... The anti-labor offensive from the ' Oval Office' intensified under President Reagan with his direct intervention firing tens of thousands of striking air controllers and arresting union leaders. Under Presidents Carter, Reagan, George H.W. Bush and William Clinton cost of living adjustments failed to keep up with prices of vital goods and services. Health care inflation was astronomical. Financial deregulation led to the subordination of American industry to finance and the Wall Street banks. De-industrialization, capital flight and massive tax evasion reduced labor's share of national income. ..."
"... The capitalist class followed a trajectory of decline, recovery and ascendance. Moreover, during the earlier world depression, at the height of labor mobilization and organization, the capitalist class never faced any significant political threat over its control of the commanding heights of the economy ..."
"... Hand in bloody glove' with the US Empire, the American trade unions planted the seeds of their own destruction at home. The local capitalists in newly emerging independent nations established industries and supply chains in cooperation with US manufacturers. Attracted to these sources of low-wage, violently repressed workers, US capitalists subsequently relocated their factories overseas and turned their backs on labor at home. ..."
"... President 'Bill' Clinton ravaged Russia, Yugoslavia, Iraq and Somalia and liberated Wall Street. His regime gave birth to the prototype billionaire swindlers: Michael Milken and Bernard 'Bernie' Madoff. ..."
"... Clinton converted welfare into cheap labor 'workfare', exploiting the poorest and most vulnerable and condemning the next generations to grinding poverty. Under Clinton the prison population of mostly African Americans expanded and the breakup of families ravaged the urban communities. ..."
"... President Obama transferred 2 trillion dollars to the ten biggest bankers and swindlers on Wall Street, and another trillion to the Pentagon to pursue the Democrats version of foreign policy: from Bush's two overseas wars to Obama's seven. ..."
"... Obama was elected to two terms. His liberal Democratic Party supporters swooned over his peace and justice rhetoric while swallowing his militarist escalation into seven overseas wars as well as the foreclosure of two million American householders. Obama completely failed to honor his campaign promise to reduce wage inequality between black and white wage earners while he continued to moralize to black families about ' values' . ..."
"... Obama's war against Libya led to the killing and displacement of millions of black Libyans and workers from Sub-Saharan Africa. The smiling Nobel Peace Prize President created more desperate refugees than any previous US head of state – including millions of Africans flooding Europe. ..."
"... Forty-years of anti welfare legislation and pro-business regimes paved the golden road for the election of Donald Trump ..."
"... Trump and the Republicans are focusing on the tattered remnants of the social welfare system: Medicare, Medicaid, Social Security. The remains of FDR's New Deal and LBJ's Great Society -- are on the chopping block. ..."
"... The moribund (but well-paid) labor leadership has been notable by its absence in the ensuing collapse of the social welfare state. The liberal left Democrats embraced the platitudinous Obama/Clinton team as the 'Great Society's' gravediggers, while wailing at Trump's allies for shoving the corpse of welfare state into its grave. ..."
"... Over the past forty years the working class and the rump of what was once referred to as the ' labor movement' has contributed to the dismantling of the social welfare state, voting for ' strike-breaker' Reagan, ' workfare' Clinton, ' Wall Street crash' Bush, ' Wall Street savior' Obama and ' Trickle-down' Trump. ..."
"... Gone are the days when social welfare and profitable wars raised US living standards and transformed American trade unions into an appendage of the Democratic Party and a handmaiden of Empire. The Democratic Party rescued capitalism from its collapse in the Great Depression, incorporated labor into the war economy and the post- colonial global empire, and resurrected Wall Street from the 'Great Financial Meltdown' of the 21 st century. ..."
"... The war economy no longer fuels social welfare. The military-industrial complex has found new partners on Wall Street and among the globalized multi-national corporations. Profits rise while wages fall. Low paying compulsive labor (workfare) lopped off state transfers to the poor. Technology – IT, robotics, artificial intelligence and electronic gadgets – has created the most class polarized social system in history ..."
"... "The collaboration of liberals and unions in promoting endless wars opened the door to Trump's mirage of a stateless, tax-less, ruling class." ..."
"... Corporations [now] are welfare recipients and the bigger they are, the more handouts they suck up ..."
"... Corporations not only continuously seek monopolies (with the aid and sanction of the state) but they steadily fine tune the welfare state for their benefit. In fact, in reality, welfare for prols and peasants wouldn't exist if it didn't act as a money conduit and ultimate profit center for the big money grubbers. ..."
"... The article is dismal reading, and evidence of the failings of the "unregulated" society, where the anything goes as long as you are wealthy. ..."
"... Like the Pentagon. Americans still don't readily call this welfare, but they will eventually. Defense profiteers are unions in a sense, you're either in their club Or you're in the service industry that surrounds it. ..."
Dec 13, 2017 | www.unz.com

Introduction

The American welfare state was created in 1935 and continued to develop through 1973. Since then, over a prolonged period, the capitalist class has been steadily dismantling the entire welfare state.

Between the mid 1970's to the present (2017) labor laws, welfare rights and benefits and the construction of and subsidies for affordable housing have been gutted. ' Workfare' (under President 'Bill' Clinton) ended welfare for the poor and displaced workers. Meanwhile the shift to regressive taxation and the steadily declining real wages have increased corporate profits to an astronomical degree.

What started as incremental reversals during the 1990's under Clinton has snowballed over the last two decades decimating welfare legislation and institutions.

The earlier welfare 'reforms' and the current anti-welfare legislation and austerity practices have been accompanied by a series of endless imperial wars, especially in the Middle East.

In the 1940's through the 1960's, world and regional wars (Korea and Indo-China) were combined with significant welfare program – a form of ' social imperialism' , which 'buy off' the working class while expanding the empire. However, recent decades are characterized by multiple regional wars and the reduction or elimination of welfare programs – and a massive growth in poverty, domestic insecurity and poor health.

New Deals and Big Wars

The 1930's witnessed the advent of social legislation and action, which laid the foundations of what is called the ' modern welfare state' .

Labor unions were organized as working class strikes and progressive legislation facilitated trade union organization, elections, collective bargaining rights and a steady increase in union membership. Improved work conditions, rising wages, pension plans and benefits, employer or union-provided health care and protective legislation improved the standard of living for the working class and provided for 2 generations of upward mobility.

Social Security legislation was approved along with workers' compensation and the forty-hour workweek. Jobs were created through federal programs (WPA, CCC, etc.). Protectionist legislation facilitated the growth of domestic markets for US manufacturers. Workplace shop steward councils organized 'on the spot' job action to protect safe working conditions.

World War II led to full employment and increases in union membership, as well as legislation restricting workers' collective bargaining rights and enforcing wage freezes. Hundreds of thousands of Americans found jobs in the war economy but a huge number were also killed or wounded in the war.

The post-war period witnessed a contradictory process: wages and salaries increased while legislation curtailed union rights via the Taft Hartley Act and the McCarthyist purge of leftwing trade union activists. So-called ' right to work' laws effectively outlawed unionization mostly in southern states, which drove industries to relocate to the anti-union states.

Welfare reforms, in the form of the GI bill, provided educational opportunities for working class and rural veterans, while federal-subsidized low interest mortgages encourage home-ownership, especially for veterans.

The New Deal created concrete improvements but did not consolidate labor influence at any level. Capitalists and management still retained control over capital, the workplace and plant location of production.

Trade union officials signed pacts with capital: higher pay for the workers and greater control of the workplace for the bosses. Trade union officials joined management in repressing rank and file movements seeking to control technological changes by reducing hours (" thirty hours work for forty hours pay "). Dissident local unions were seized and gutted by the trade union bosses – sometimes through violence.

Trade union activists, community organizers for rent control and other grassroots movements lost both the capacity and the will to advance toward large-scale structural changes of US capitalism. Living standards improved for a few decades but the capitalist class consolidated strategic control over labor relations. While unionized workers' incomes, increased, inequalities, especially in the non-union sectors began to grow. With the end of the GI bill, veterans' access to high-quality subsidized education declined.

While a new wave of social welfare legislation and programs began in the 1960's and early 1970's it was no longer a result of a mass trade union or workers' "class struggle". Moreover, trade union collaboration with the capitalist regional war policies led to the killing and maiming of hundreds of thousands of workers in two wars – the Korean and Vietnamese wars.

Much of social legislation resulted from the civil and welfare rights movements. While specific programs were helpful, none of them addressed structural racism and poverty.

The Last Wave of Social Welfarism

The 1960'a witnessed the greatest racial war in modern US history: Mass movements in the South and North rocked state and federal governments, while advancing the cause of civil, social and political rights. Millions of black citizens, joined by white activists and, in many cases, led by African American Viet Nam War veterans, confronted the state. At the same time, millions of students and young workers, threatened by military conscription, challenged the military and social order.

Energized by mass movements, a new wave of social welfare legislation was launched by the federal government to pacify mass opposition among blacks, students, community organizers and middle class Americans. Despite this mass popular movement, the union bosses at the AFL-CIO openly supported the war, police repression and the military, or at best, were passive impotent spectators of the drama unfolding in the nation's streets. Dissident union members and activists were the exception, as many had multiple identities to represent: African American, Hispanic, draft resisters, etc.

Under Presidents Lyndon Johnson and Richard Nixon, Medicare, Medicaid, OSHA, the EPA and multiple poverty programs were implemented. A national health program, expanding Medicare for all Americans, was introduced by President Nixon and sabotaged by the Kennedy Democrats and the AFL-CIO. Overall, social and economic inequalities diminished during this period.

The Vietnam War ended in defeat for the American militarist empire. This coincided with the beginning of the end of social welfare as we knew it – as the bill for militarism placed even greater demands on the public treasury.

With the election of President Carter, social welfare in the US began its long decline. The next series of regional wars were accompanied by even greater attacks on welfare via the " Volker Plan " – freezing workers' wages as a means to combat inflation.

Guns without butter' became the legislative policy of the Carter and Reagan Administrations. The welfare programs were based on politically fragile foundations.

The Debacle of Welfarism

Private sector trade union membership declined from a post-world war peak of 30% falling to 12% in the 1990's. Today it has sunk to 7%. Capitalists embarked on a massive program of closing thousands of factories in the unionized North which were then relocated to the non-unionized low wage southern states and then overseas to Mexico and Asia. Millions of stable jobs disappeared.

Following the election of 'Jimmy Carter', neither Democratic nor Republican Presidents felt any need to support labor organizations. On the contrary, they facilitated contracts dictated by management, which reduced wages, job security, benefits and social welfare.

The anti-labor offensive from the ' Oval Office' intensified under President Reagan with his direct intervention firing tens of thousands of striking air controllers and arresting union leaders. Under Presidents Carter, Reagan, George H.W. Bush and William Clinton cost of living adjustments failed to keep up with prices of vital goods and services. Health care inflation was astronomical. Financial deregulation led to the subordination of American industry to finance and the Wall Street banks. De-industrialization, capital flight and massive tax evasion reduced labor's share of national income.

The capitalist class followed a trajectory of decline, recovery and ascendance. Moreover, during the earlier world depression, at the height of labor mobilization and organization, the capitalist class never faced any significant political threat over its control of the commanding heights of the economy.

The ' New Deal' was, at best, a de facto ' historical compromise' between the capitalist class and the labor unions, mediated by the Democratic Party elite. It was a temporary pact in which the unions secured legal recognition while the capitalists retained their executive prerogatives.

The Second World War secured the economic recovery for capital and subordinated labor through a federally mandated no strike production agreement. There were a few notable exceptions: The coal miners' union organized strikes in strategic sectors and some leftist leaders and organizers encouraged slow-downs, work to rule and other in-plant actions when employers ran roughshod with special brutality over the workers. The recovery of capital was the prelude to a post-war offensive against independent labor-based political organizations. The quality of labor organization declined even as the quantity of trade union membership increased.

Labor union officials consolidated internal control in collaboration with the capitalist elite. Capitalist class-labor official collaboration was extended overseas with strategic consequences.

The post-war corporate alliance between the state and capital led to a global offensive – the replacement of European-Japanese colonial control and exploitation by US business and bankers. Imperialism was later 're-branded' as ' globalization' . It pried open markets, secured cheap docile labor and pillaged resources for US manufacturers and importers.

US labor unions played a major role by sabotaging militant unions abroad in cooperation with the US security apparatus: They worked to coopt and bribe nationalist and leftist labor leaders and supported police-state regime repression and assassination of recalcitrant militants.

' Hand in bloody glove' with the US Empire, the American trade unions planted the seeds of their own destruction at home. The local capitalists in newly emerging independent nations established industries and supply chains in cooperation with US manufacturers. Attracted to these sources of low-wage, violently repressed workers, US capitalists subsequently relocated their factories overseas and turned their backs on labor at home.

Labor union officials had laid the groundwork for the demise of stable jobs and social benefits for American workers. Their collaboration increased the rate of capitalist profit and overall power in the political system. Their complicity in the brutal purges of militants, activists and leftist union members and leaders at home and abroad put an end to labor's capacity to sustain and expand the welfare state.

Trade unions in the US did not use their collaboration with empire in its bloody regional wars to win social benefits for the rank and file workers. The time of social-imperialism, where workers within the empire benefited from imperialism's pillage, was over. Gains in social welfare henceforth could result only from mass struggles led by the urban poor, especially Afro-Americans, community-based working poor and militant youth organizers.

The last significant social welfare reforms were implemented in the early 1970's – coinciding with the end of the Vietnam War (and victory for the Vietnamese people) and ended with the absorption of the urban and anti-war movements into the Democratic Party.

Henceforward the US corporate state advanced through the overseas expansion of the multi-national corporations and via large-scale, non-unionized production at home.

The technological changes of this period did not benefit labor. The belief, common in the 1950's, that science and technology would increase leisure, decrease work and improve living standards for the working class, was shattered. Instead technological changes displaced well-paid industrial labor while increasing the number of mind-numbing, poorly paid, and politically impotent jobs in the so-called 'service sector' – a rapidly growing section of unorganized and vulnerable workers – especially including women and minorities.

Labor union membership declined precipitously. The demise of the USSR and China's turn to capitalism had a dual effect: It eliminated collectivist (socialist) pressure for social welfare and opened their labor markets with cheap, disciplined workers for foreign manufacturers. Labor as a political force disappeared on every count. The US Federal Reserve and President 'Bill' Clinton deregulated financial capital leading to a frenzy of speculation. Congress wrote laws, which permitted overseas tax evasion – especially in Caribbean tax havens. Regional free-trade agreements, like NAFTA, spurred the relocation of jobs abroad. De-industrialization accompanied the decline of wages, living standards and social benefits for millions of American workers.

The New Abolitionists: Trillionaires

The New Deal, the Great Society, trade unions, and the anti-war and urban movements were in retreat and primed for abolition.

Wars without welfare (or guns without butter) replaced earlier 'social imperialism' with a huge growth of poverty and homelessness. Domestic labor was now exploited to finance overseas wars not vice versa. The fruits of imperial plunder were not shared.

As the working and middle classes drifted downward, they were used up, abandoned and deceived on all sides – especially by the Democratic Party. They elected militarists and demagogues as their new presidents.

President 'Bill' Clinton ravaged Russia, Yugoslavia, Iraq and Somalia and liberated Wall Street. His regime gave birth to the prototype billionaire swindlers: Michael Milken and Bernard 'Bernie' Madoff.

Clinton converted welfare into cheap labor 'workfare', exploiting the poorest and most vulnerable and condemning the next generations to grinding poverty. Under Clinton the prison population of mostly African Americans expanded and the breakup of families ravaged the urban communities.

Provoked by an act of terrorism (9/11) President G.W. Bush Jr. launched the 'endless' wars in Afghanistan and Iraq and deepened the police state (Patriot Act). Wages for American workers and profits for American capitalist moved in opposite directions.

The Great Financial Crash of 2008-2011 shook the paper economy to its roots and led to the greatest shakedown of any national treasury in history directed by the First Black American President. Trillions of public wealth were funneled into the criminal banks on Wall Street – which were ' just too big to fail .' Millions of American workers and homeowners, however, were ' just too small to matter' .

The Age of Demagogues

President Obama transferred 2 trillion dollars to the ten biggest bankers and swindlers on Wall Street, and another trillion to the Pentagon to pursue the Democrats version of foreign policy: from Bush's two overseas wars to Obama's seven.

Obama's electoral 'donor-owners' stashed away two trillion dollars in overseas tax havens and looked forward to global free trade pacts – pushed by the eloquent African American President.

Obama was elected to two terms. His liberal Democratic Party supporters swooned over his peace and justice rhetoric while swallowing his militarist escalation into seven overseas wars as well as the foreclosure of two million American householders. Obama completely failed to honor his campaign promise to reduce wage inequality between black and white wage earners while he continued to moralize to black families about ' values' .

Obama's war against Libya led to the killing and displacement of millions of black Libyans and workers from Sub-Saharan Africa. The smiling Nobel Peace Prize President created more desperate refugees than any previous US head of state – including millions of Africans flooding Europe.

'Obamacare' , his imitation of an earlier Republican governor's health plan, was formulated by the private corporate health industry (private insurance, Big Pharma and the for-profit hospitals), to mandate enrollment and ensure triple digit profits with double digit increases in premiums. By the 2016 Presidential elections, ' Obama-care' was opposed by a 45%-43% margin of the American people. Obama's propagandists could not show any improvement of life expectancy or decrease in infant and maternal mortality as a result of his 'health care reform'. Indeed the opposite occurred among the marginalized working class in the old 'rust belt' and in the rural areas. This failure to show any significant health improvement for the masses of Americans is in stark contrast to LBJ's Medicare program of the 1960's, which continues to receive massive popular support.

Forty-years of anti welfare legislation and pro-business regimes paved the golden road for the election of Donald Trump

Trump and the Republicans are focusing on the tattered remnants of the social welfare system: Medicare, Medicaid, Social Security. The remains of FDR's New Deal and LBJ's Great Society -- are on the chopping block.

The moribund (but well-paid) labor leadership has been notable by its absence in the ensuing collapse of the social welfare state. The liberal left Democrats embraced the platitudinous Obama/Clinton team as the 'Great Society's' gravediggers, while wailing at Trump's allies for shoving the corpse of welfare state into its grave.

Conclusion

Over the past forty years the working class and the rump of what was once referred to as the ' labor movement' has contributed to the dismantling of the social welfare state, voting for ' strike-breaker' Reagan, ' workfare' Clinton, ' Wall Street crash' Bush, ' Wall Street savior' Obama and ' Trickle-down' Trump.

Gone are the days when social welfare and profitable wars raised US living standards and transformed American trade unions into an appendage of the Democratic Party and a handmaiden of Empire. The Democratic Party rescued capitalism from its collapse in the Great Depression, incorporated labor into the war economy and the post- colonial global empire, and resurrected Wall Street from the 'Great Financial Meltdown' of the 21 st century.

The war economy no longer fuels social welfare. The military-industrial complex has found new partners on Wall Street and among the globalized multi-national corporations. Profits rise while wages fall. Low paying compulsive labor (workfare) lopped off state transfers to the poor. Technology – IT, robotics, artificial intelligence and electronic gadgets – has created the most class polarized social system in history. The first trillionaire and multi-billionaire tax evaders rose on the backs of a miserable standing army of tens of millions of low-wage workers, stripped of rights and representation. State subsidies eliminate virtually all risk to capital. The end of social welfare coerced labor (including young mother with children) to seek insecure low-income employment while slashing education and health – cementing the feet of generations into poverty. Regional wars abroad have depleted the Treasury and robbed the country of productive investment. Economic imperialism exports profits, reversing the historic relation of the past.

Labor is left without compass or direction; it flails in all directions and falls deeper in the web of deception and demagogy. To escape from Reagan and the strike breakers, labor embraced the cheap-labor predator Clinton; black and white workers united to elect Obama who expelled millions of immigrant workers, pursued 7 wars, abandoned black workers and enriched the already filthy rich. Deception and demagogy of the labor-

Issac , December 11, 2017 at 11:01 pm GMT

"The military-industrial complex has found new partners on Wall Street and among the globalized multi-national corporations."

"The collaboration of liberals and unions in promoting endless wars opened the door to Trump's mirage of a stateless, tax-less, ruling class."

A mirage so real, it even has you convinced.

whyamihere , December 12, 2017 at 4:24 am GMT
If the welfare state in America was abolished, major American cities would burn to the ground. Anarchy would ensue, it would be magnitudes bigger than anything that happened in Ferguson or Baltimore. It would likely be simultaneous.

I think that's one of the only situations where preppers would actually live out what they've been prepping for (except for a natural disaster).

I've been thinking about this a little over the past few years after seeing the race riots. What exactly is the line between our society being civilized and breaking out into chaos. It's probably a lot thinner than most people think.

I don't know who said it but someone long ago said something along the lines of, "Democracy can only work until the people figure out they can vote for themselves generous benefits from the public treasury." We are definitely in this situation today. I wonder how long it can last.

Disordered , December 13, 2017 at 8:41 am GMT
While I agree with Petras's intent (notwithstanding several exaggerations and unnecessary conflations with, for example, racism), I don't agree so much with the method he proposes. I don't mind welfare and unions to a certain extent, but they are not going to save us unless there is full employment and large corporations that can afford to pay an all-union workforce. That happened during WW2, as only wartime demand and those pesky wage freezes solved the Depression, regardless of all the public works programs; while the postwar era benefited from the US becoming the world's creditor, meaning that capital could expand while labor participation did as well.

From then on, it is quite hard to achieve the same success after outsourcing and mechanization have happened all over the world. Both of these phenomena not only create displaced workers, but also displaced industries, meaning that it makes more sense to develop individual workfare (and even then, do it well, not the shoddy way it is done now) rather than giving away checks that probably will not be cashed for entrepreneurial purposes, and rather than giving away money to corrupt unions who depend on trusts to be able to pay for their benefits, while raising the cost of hiring that only encourages more outsourcing.

The amount of welfare given is not necessarily the main problem, the problem is doing it right for the people who truly need it, and efficiently – that is, with the least amount of waste lost between the chain of distribution, which should reach intended targets and not moochers.

Which inevitably means a sound tax system that targets unearned wealth and (to a lesser degree) foreign competition instead of national production, coupled with strict, yet devolved and simple government processes that benefit both business and individuals tired of bureaucracy, while keeping budgets balanced. Best of both worlds, and no military-industrial complex needed to drive up demand.

Wally , Website December 13, 2017 at 8:57 am GMT
"President Obama transferred 2 trillion dollars to the ten biggest bankers and swindlers on Wall Street " That's twice the amount that Bush gave them.
jacques sheete , December 13, 2017 at 10:52 am GMT

The American welfare state was created in 1935 and continued to develop through 1973. Since then, over a prolonged period, the capitalist class has been steadily dismantling the entire welfare state.

Wrong wrong wrong.

Corporations [now] are welfare recipients and the bigger they are, the more handouts they suck up, and welfare for them started before 1935. In fact, it started in America before there was a USA. I do not have time to elaborate, but what were the various companies such as the British East India Company and the Dutch West India Companies but state pampered, welfare based entities? ~200 years ago, Herbert Spencer, if memory serves, pointed out that the British East India Company couldn't make a profit even with all the special, government granted favors showered upon it.

Corporations not only continuously seek monopolies (with the aid and sanction of the state) but they steadily fine tune the welfare state for their benefit. In fact, in reality, welfare for prols and peasants wouldn't exist if it didn't act as a money conduit and ultimate profit center for the big money grubbers.

Den Lille Abe , December 13, 2017 at 11:09 am GMT
Well, the author kind of nails it. I remember from my childhood in the 50-60 ties in Scandinavia that the US was the ultimate goal in welfare. The country where you could make a good living with your two hands, get you kids to UNI, have a house, a telly ECT. It was not consumerism, it was the American dream, a chicken in every pot; we chewed imported American gum and dreamed.

In the 70-80 ties Scandinavia had a tremendous social and economic growth, EQUALLY distributed, an immense leap forward. In the middle of the 80 ties we were equal to the US in standards of living.

Since we have not looked at the US, unless in pity, as we have seen the decline of the general income, social wealth fall way behind our own.
The average US workers income has not increased since 90 figures adjusted for inflation. The Scandinavian workers income in the same period has almost quadrupled. And so has our societies.

The article is dismal reading, and evidence of the failings of the "unregulated" society, where the anything goes as long as you are wealthy.

wayfarer , December 13, 2017 at 1:01 pm GMT

Between the mid 1970's to the present (2017) labor laws, welfare rights and benefits and the construction of and subsidies for affordable housing have been gutted. 'Workfare' (under President 'Bill' Clinton) ended welfare for the poor and displaced workers. Meanwhile the shift to regressive taxation and the steadily declining real wages have increased corporate profits to an astronomical degree.

source: http://www.unz.com/jpetras/rise-and-decline-of-the-welfare-state/

What does Hollywood "elite" JAP and wannabe hack-stand-up-comic Sarah Silverman think about the class struggle and problems facing destitute Americans? "Qu'ils mangent de la bagels!", source: https://en.wikipedia.org/wiki/Let_them_eat_cake

... ... ...

Anonymous , Disclaimer December 13, 2017 at 1:40 pm GMT
@Greg Fraser

Like the Pentagon. Americans still don't readily call this welfare, but they will eventually. Defense profiteers are unions in a sense, you're either in their club Or you're in the service industry that surrounds it.

Anonymous , Disclaimer December 13, 2017 at 2:43 pm GMT
As other commenters have pointed out, it's Petras curious choice of words that sometimes don't make too much sense. We can probably blame the maleable English language for that, but here it's too obvious. If you don't define a union, people might assume you're only talking about a bunch of meat cutters at Safeway.

The welfare state is alive and well for corporate America. Unions are still here – but they are defined by access and secrecy, you're either in the club or not.

The war on unions was successful first by co-option but mostly by the media. But what kind of analysis leaves out the role of the media in the American transformation? The success is mind blowing.

America has barely literate (white) middle aged males trained to spout incoherent Calvinistic weirdness: unabased hatred for the poor (or whoever they're told to hate) and a glorification of hedge fund managers as they get laid off, fired and foreclosed on, with a side of opiates.

There is hardly anything more tragic then seeing a web filled with progressives (management consultants) dedicated to disempowering, disabling and deligitimizing victims by claiming they are victims of biology, disease or a lack of an education rather than a system that issues violence while portending (with the best media money can buy) that they claim the higher ground.

animalogic , December 13, 2017 at 2:57 pm GMT
@Wally

""Democracy can only work until the people figure out they can vote for themselves generous benefits from the public treasury." We are definitely in this situation today."

Quite right: the 0.01% have worked it out & US democracy is a Theatre for the masses.

Reg Cæsar , December 13, 2017 at 3:08 pm GMT

They elected militarists and demagogues as their new presidents.

Wilson and FDR were much more militarist and demagogic than those that followed.

Reg Cæsar , December 13, 2017 at 3:20 pm GMT
@whyamihere

I don't know who said it but someone long ago said something along the lines of, "Democracy can only work until the people figure out they can vote for themselves generous benefits from the public treasury."

Some French aristocrat put it as, once the gates to the treasury have been breached, they can only be closed again with gunpowder. Anyone recognize the author?

phil , December 13, 2017 at 4:48 pm GMT
The author doesn't get it. What we have now IS the welfare state in an intensely diverse society. We have more transfer spending than ever before and Obamacare represents another huge entitlement.

Intellectuals continue to fantasize about the US becoming a Big Sweden, but Sweden has only been successful insofar as it has been a modest nation-state populated by ethnic Swedes. Intense diversity in a huge country with only the remnants of federalism results in massive non-consensual decision-making, fragmentation, increased inequality, and corruption.

HallParvey , December 13, 2017 at 4:57 pm GMT
@Anonymous

The welfare state is alive and well for corporate America. Unions are still here – but they are defined by access and secrecy, you're either in the club or not.

They are largely defined as Doctors, Lawyers, and University Professors who teach the first two. Of course they are not called unions. Access is via credentialing and licensing. Good Day

Anonymous , Disclaimer December 13, 2017 at 4:57 pm GMT
@Linda Green

Bernie Sanders, speaking on behalf of the MIC's welfare bird: "It is the airplane of the United States Air Force, Navy, and of NATO."

Elizabeth Warren, referring to Mossad's Estes Rockets: "The Israeli military has the right to attack Palestinian hospitals and schools in self defense"

Barack Obama, yukking it up with pop stars: "Two words for you: predator drones. You will never see it coming."

It's not the agitprop that confuses the sheep, it's whose blowhole it's coming out of (labled D or R for convenience) that gets them to bare their teeth and speak of poo.

Anonymous , Disclaimer December 13, 2017 at 5:54 pm GMT
@HallParvey

What came first, the credentialing or the idea that it is a necessary part of education? It certainly isn't an accurate indication of what people know or their general intelligence – although that myth has flourished. Good afternoon.

Logan , December 13, 2017 at 9:10 pm GMT
@Realist

For an interesting projection of what might happen in total civilizational collapse, I recommend the Dies the Fire series of novels by SM Stirling.

It has a science-fictiony setup in that all high-energy system (gunpowder, electricity, explosives, internal combustion, even high-energy steam engines) suddenly stop working. But I think it does a good job of extrapolating what would happen if suddenly the cities did not have food, water, power, etc.

Spoiler alert: It ain't pretty. Those who dream of a world without guns have not really thought it through.

Logan , December 13, 2017 at 9:19 pm GMT
@phil

It has been pointed out repeatedly that Sweden does very well relative to the USA. It has also been noted that people of Swedish ancestry in the USA do pretty well also. In fact considerably better than Swedes in Sweden

[Dec 05, 2017] Controlling speculation in world financial markets Progressive Christians Uniting by Gordon K Douglass

Highly recommended!
Nov 09, 2002 | www.prospect-magazine.co.uk

Financial markets 101
Early history
The Bretton Woods system
The power of financial actors
Consequences of global financial flows
Policy options
Theological and ethical considerations
A new financial architecture
What Christians can do
Want to know more?
Questions For Discussion


"During my whole career at Goldman Sachs - 1967 to 1991 - I never owned a foreign stock or emerging market bonds. Now I have hundreds of millions of dollars in Russia, Brazil, Argentina and Chile, and I worry constantly about the dollar-yen rate. Every night before I go to bed I call in for the dollar-yen quote, and to find out what the Nikkei is doing and what the Hang Seng Index is doing. We have bets in all these markets. Right now Paul [one of my traders] is long [on] the Canadian dollar. We have bets all over the place. I would not have worried about any of these twenty years ago. Now I have to worry about all of them."

Leon Coopermann, hedge fund manager1


Economic globalization is probably the most fundamental transformation of the world's political and economic arrangements since the Industrial Revolution. Decisions made in one part of the world more and more affect people and communities elsewhere in the world. Sometimes the consequences of globalization are positive, liberating inventive and entrepreneurial talents and accelerating the pace of sustainable development. But at other times they are negative, as when many people, especially in less-developed countries, are left behind without a social safety net. Globalization undermines the ability of the nation to tax and to regulate its own economy. This weakens the power of sovereign nations relative to that of large transnational corporations and distorts how social and economic priorities are chosen.

Economic globalization is most often associated with rapid growth in the flow of goods and services across international borders. Indeed, the economic "openness" of a nation is often measured by the value of its exports, imports, or their sum when compared to the size of its economy. Economic globalization also involves large investments from outside each nation, often by transnational corporations. These corporations often combine technology and know-how with their investments that enhance the productive capacity of a nation. Previous position papers of the Mobilization, contained in Speaking of Religion & Politics: The Progressive Church Tackles Hot Topics2, have dealt with globalization primarily in these terms.

But international trade and investment are only part of the openness that has come to be called globalization. Another part, and arguably the most important, is the quickening flow of financial assets internationally. While a small portion of this flow is directly associated with the "real" economy of production and exchange, its vast majority is composed of trades in the "paper" economy of short-term financial markets. This paper economy is enormous: The value of global financial securities greatly exceeds the value of annual world output of goods and services. Moreover, the paper economy often contributes to crises in the real economy. Thus it is important to the well being of humanity and the planet as a whole, yet it is little understood by most people. This essay undertakes to provide a basic understanding of this paper economy, especially as its more speculative features have multiplied during the last two or three decades, so that Christians and others concerned about what is happening in our world can join in an intelligent discussion of how the harmful consequences of financial markets can be controlled.


Financial markets 101

To better understand this paper economy, one first needs to know something about foreign exchange markets, international money markets, and "external" financial markets.

In an open economy, domestic residents often engage in international transactions. American car dealers, for example, buy Japanese Toyotas and Datsuns, while German computer companies sell electronic notebooks to Mexican businessmen. Similarly, Australian mutual funds invest in the shares of companies all over the world, while the treasurer of a Canadian transnational corporation parks idle cash in 90-day Bank of England notes. Most of these transactions require one or more participants to acquire a foreign currency. If an American buys a Toyota and pays the Japanese Toyota dealer in dollars, for example, the latter will have to exchange the dollars for yens in order to have the local currency with which to pay his workers and local suppliers.

The foreign exchange market is the market in which national currencies are traded. As in any market, a price must exist at which trade can occur. An exchange rate is the price of a unit of domestic currency in terms of a foreign currency. Thus, if the exchange rate of the dollar in terms of the Japanese yen increases, we say the dollar has depreciated and the yen has appreciated. Similarly, a decrease in the dollar/yen exchange rate would imply an appreciation of the dollar and a depreciation of the yen.

Foreign exchange markets can be classified as spot markets and forward markets. In spot markets currencies are bought and sold for immediate delivery and payment. In forward markets, currencies are bought or sold for future delivery and payment. A U.S. music company, say, enters into a contract to buy British records for delivery in 30 days. To guard against the possibility of the dollar/pound exchange rate increasing in the meantime, the company buys pounds forward, for delivery in 30 days, at the corresponding forward exchange rate quoted today. This is called hedging.

Of course, there has to be a counterpart to the music company's forward purchase of pounds. Who is the seller of those pounds? The immediate seller would be a commercial bank, as in the spot market. But the bank only acts as an intermediary. The ultimate seller of forward pounds may be another hedger, like the music company, but with a position just its opposite. Suppose, for example, that an American firm or individual has invested in 30-day British securities that it wants to convert back into dollars after the end of 30 days. The investor may decide to sell the pound proceeds forward in order to assure itself of the rate at which the pounds are to be converted back into dollars after 30 days.

Another type of investor may be providing the forward contract bought by the music company. This is the speculator, who attempts to profit from changes in exchange rates. Depending on their expectations, speculators may enter the forward market either as sellers or as buyers of forward exchange. In this particular case, the speculator may have reason to believe that the dollar/pound exchange rate will decrease in the next 30 days, permitting him to obtain the promised pounds at a lower price in the spot market 30 days hence.

The main instruments of foreign exchange transactions include electronic bank deposit transfers and bank drafts, bills of exchange, and a whole array of other short-term instruments expressed in terms of foreign currency. Thus, foreign exchange transactions do not generally involve a physical exchange of currencies across borders. They generally involve only changes in debits and credits at different banks in different countries. Very large banks in the main financial centers such as New York, London, Brussels and Zurich, account for most foreign exchange transactions. Local banks can provide foreign exchange by purchasing it in turn from major banks.

Although the foreign exchange market is dispersed in many cities and countries, it is unified by keen competition among the highly sophisticated market participants. A powerful force keeping exchange rate quotations in different places in line with each other is the search on the part of market participants for foreign exchange arbitrage opportunities. Arbitrage is the simultaneous purchase and sale of a commodity or financial asset in different markets with the purpose of obtaining a profit from the differential between the buying and selling price.

When foreign exchange is acquired in order to engage in international transactions involving the purchase or sale of goods and services, it is said that international trade has taken place in the real economy. When international transactions involve the purchase or sale of financial assets, they are referred to as international financial transactions. They constitute the paper economy.

Financial markets are commonly classified as capital markets or money markets. Capital markets deal in financial claims that reach more than one year into the future. Such claims include shares of stock, bonds, and long-term loans, among others. Money markets, on the other hand, deal in short-term claims, with maturities of less than one year. These include marketable government securities (like Treasury bills), large-denomination certificates of deposit issued by banks, commercial paper (representing short-term corporate debt), money market funds, and many other kinds of short-term, highly liquid (easily transferable) financial instruments. It is these short-term money market securities that account for most of the instability in the global paper economy.

Buying or selling a money market security internationally involves the same kind of foreign exchange risk that plagues buyers or sellers of merchandise internationally. If one wishes to guard against the possibility of an increase or decrease in the foreign exchange rate, one can insure against such fluctuations by "covering" in the forward market. By the same token, the decision about whether to own domestic or foreign money market securities is not simply a comparison of the rates of interest paid on otherwise comparable securities, because one must also take into account the gain (or loss) from purchasing foreign currency spot and selling it forward. Thus, choosing the security with the highest return does not necessarily imply the one with the highest interest rate.

People who trade in international money markets, moreover, need to take into account many other variables, including the costs of gathering and processing information, transaction costs, the possibility of government intervention and regulation, other forms of political risk, and the inability to make direct comparisons of alternative assets. Speculating in international money markets is a risky proposition.

International money markets involve assets denominated in different currencies. External financial markets involve assets denominated in the same currency but issued in different political jurisdictions. Eurodollars, for example, are dollar deposits held outside the United States (offshore), such as dollar deposits in London, Zurich, or even Singapore banks. The deposits may be in banks owned locally or in the offshore banking subsidiaries of U.S. banks. Deutsche mark deposits in London banks or pound sterling deposits in Amsterdam banks also are examples of external deposits. They are referred to as eurocurrency deposits. (The advent of a new common currency in the European Community - the Euro - will require the development of new nomenclature for external financial markets)

External banking activities are a segment of the wholesale international money market. The vast majority of eurocurrency transactions fall in the above $1 million value range, frequently reaching the hundreds of millions (or even billion) dollar value. Accordingly, the customers of eurobanks are almost exclusively large organizations, including multinational corporations, government entities, hedge funds, and international organizations, as well as eurobanks themselves. Like domestic banks, eurobanks that have excess reserves may make loans denominated in eurocurrencies, expanding the supply of eurocurrency deposits. The eurocurrency market funnels funds from lending countries to borrowing countries. Thus, it performs an important function as global financial intermediator.


Early history

The origins of what Karl Polanyi3 called haute finance can be traced to Renaissance Italy, where as early as 1422 there were seventy-two bankers or bill-brokers in or near the Mecato Vecchio of Florence.4 Many combined trade with purely financial business. By the middle of the fifteenth century, the Medici of Florence had opened branches in Bruges, London and Avignon, both as a means of financing international trade and as a way of marketing new kinds of financial assets. Many banking terms and practices still in use today originated in the burgeoning financial centers of Renaissance Europe.

By the early seventeenth century, the Dutch and East India Companies began issuing shares to the public in order to fund imperial enterprises closely linked to Holland and Britain. Their shares were made freely transferable, permitting development of a secondary financial market for claims to future income. Amsterdam opened a stock exchange in 1611, and shortly thereafter, the British government began issuing lottery tickets, an early form of government bonds, to finance colonial expansion, wars and other major areas of state expenditure. A lively secondary market in these financial instruments also emerged.5

Throughout these early years, financial markets were anything but riskless and stable. Consider the famous Dutch tulip mania of 1630, for example. This speculative bubble saw prices of tulip bulbs reach what seemed like absurd levels, yet "the rage among the Dutch to possess them [tulips] was so great that the ordinary industry of the country was neglected." Some investors in Britain and France shared this "irrational exuberance," though it was centered mostly in Holland. Then, not unlike speculative bubbles of more recent vintage, prices crashed6, pushing the economy into a depression and leaving many investors angry and confused.

Paris developed into an early financial center in the eighteenth century, but the Revolution of 1789 dissipated its power. The New York Stock Exchange was formally organized in 1792 and the official London Stock Exchange opened in 1802. The expansion westward of the railroads in the U.S. offered the financial community opportunity to sell railway shares and bonds that quickly became dominant in the financial markets. Indeed, the bond markets of London, Paris, Berlin, and Amsterdam were vehicles for collecting massive amounts of European savings and transferring it at higher returns to the emerging markets of the U.S., Canada, Australia, Latin America and Russia in the century preceding World War I.

Forward markets soon developed, especially in the U.S., in order to counter the impact of long distances and unpredictable weather. As capital and money markets expanded, other new financial instruments came into use. Joint stock companies were formed, enabled by legislation that clarified the distinction between the owners and managers of corporations. This, in turn, helped stimulate the growth of the American stock market in the late nineteenth century. To be sure, financial markets did not grow continuously in the nineteenth century. Lending to the emerging markets was interrupted by defaults in the 1820s, 1850s, 1870s and 1890s, but each wave of default was confined to a relatively small number of countries, permitting growth of financial flows to resume.7

In the four decades leading up to World War I, a truly worldwide economy was forged for the first time, extending from the core of Western Europe and the U.S. to latecomers in Eastern Europe and Latin America and even to the countries supplying raw materials on the periphery. Central to this expansion of trade and investment was an expanding system of finance that girded the globe. The amount was enormous: between 1870 and 1914 something like $30 billion,8 the equivalent in 2002 dollars of $550 billion, was transferred to recipient countries, in a world economy perhaps one-twelfth as large as today's.

During this "Gilded Age" of haute finance, the risks of participating in international trade and investment were generously shared with governments and the banking system. The reason is that foreign exchange rates were kept reasonably stable by the commitment of most governments to the "high" gold standard. In this way, businesses and individuals engaging in international transactions were reasonably certain that the value of their contracts was not going to change before they matured. Their exchange risk was shared with government by its willingness to buy or sell gold in order to keep the exchange rate constant. Because of this assurance, financial flows were reasonably free of regulation.

They were not immune from crises, however. When the sources of financial capital temporarily dried up, capital-importing countries occasionally found they could not expand export earnings sufficiently to avoid suspending interest payments on their debts or abandoning gold parity. On two occasions, the United States faced this possibility. The first was in 1893, when it switched in a sharp economic downturn to bimetallism (which caused William Jennings Bryan to denounce the "cross of gold"), and the second was in 1907, which led to the creation of the Federal Reserve System, handing to the government the function of lender of last resort previously carried out by Wall Street banks under the tutelage of J. Pierpont Morgan.

In his magisterial book The Great Transformation, Karl Polanyi reflected on the pervasive influence of haute finance on the policies of nations even in this "Gilded Age." The globalising financial markets and the gold standard, according to Polanyi, left very little room for states, especially smaller ones, to adopt monetary and fiscal policies independent of the new international order. "Loans, and the renewal of loans, hinged upon credit, and credit upon good behavior. Since, under constitutional government ..., behavior is reflected in the budget and the external value of the currency cannot be detached from the appreciation of the budget, debtor governments were well advised to watch their exchanges carefully and to avoid policies which might reflect upon the soundness of budget positions." Thus, even one hundred years ago the then-dominant world power, Great Britain, speaking as it did so often through the voice of the City of London, "prevailed by the timely pull of a thread in the international monetary network.9

Following World War I, the United States emerged not merely as a creditor country but as the primary source of new international financial flows. At first, the principal borrowers were the national governments of the stronger countries, but as the boom in security underwriting developed in the U.S, numerous obscure provinces, departments and municipalities found it possible to sell their bonds to American investors.10 Just as domestic construction, land, and equity markets went through speculative rises in the 1920s, so too did the U.S. experience a speculative surge in foreign investment. In the aftermath of successive defaults by foreign debtors in 1932, the Senate Committee on Banking and Currency concluded:

The record of the activities of investment bankers in the flotation of foreign securities is one of the most scandalous chapters in the history of American investment banking. The sale of these foreign issues was characterized by practices and abuses that violated the most elementary principles of business ethics.11

Speculation in the stock markets leading up to 1929 offers still another window on the instability of short-term financial flows. A speculative market can be defined as one in which prices move in response to the balance of opinion regarding the future movement of prices rather than responding normally to changes in the demand for and supply of whatever is priced. Helped by the willingness of Wall Street to allow people to buy stocks on margin, people were only too ready to bet prices would rise as long as others thought so too. Day after day and month after month the price of stocks went up in 1927. The gains by later standards were not large, but they had an aspect of great reliability. Then in 1928, the nature of the boom changed. "The mass escape into make-believe, so much a part of the true speculative orgy, started in earnest.12

Following World War I, the gold standard itself took on new form. Nations were allowed to hold their international reserves in either gold or foreign exchange. This worked for a while in the 1920s, but as speculation mounted and balances of payments disequilibria grew, fears of devaluation led central banks to try to replace their foreign-exchange holdings with specie in a "scramble for gold." The worldwide result of these shifts in central bank portfolios was an overall contraction of the supply of money and credit that sapped aggregate demand and forced prices to fall and output levels to shrink. Thus, it can be argued - persuasively in our view - that the Great Depression of the 1930s was as much, if not more, the result of mismanagement of money and credit as it was the result of protectionist policies. Protectionist policies were more likely the result of slowed growth and stalled trade. Countries that broke with the gold-exchange standard early, such as Britain in 1931, and pursued more expansionary monetary policies fared somewhat better.


The Bretton Woods system

During the darkest days of World War II, a radically new economic architecture was designed for the postwar world at a New Hampshire ski resort called Bretton Woods. With the competitive devaluation and protectionist policies of the 1930s still fresh in their minds, the mostly British and American delegates to the conference wanted most of all to design a system with fixed exchange rates that did not rely on national gold hoards to keep exchange rates stable. They decided to depend instead on strict controls of international financial movements. In this way, they hoped to allow countries to pursue full-employment policies through appropriate monetary (money and credit) and fiscal (tax and spending) policies without some of the anxieties associated with open financial markets. The role of monetary and financial stabilizer was given to the International Monetary Fund (IMF), which was provided with modest funds to assist nations to adjust imbalances in their external payments obligations. The International Bank for Reconstruction and Development (IBRD, later the World Bank) assumed the task of helping to finance post-war reconstruction.13

The IMF as it emerged from Bretton Woods had inadequate reserves to advance money for the long periods that many countries require for "soft-landings" from big current-account deficits. It would make only short-term loans. To make sure that borrowing nations were constrained, "conditionality" attached to IMF loans became standard practice, even in the early years of the Fund's operation. Policy limitations and "performance targets" tied to credit lines advanced under "standby agreements" began in the middle 1950s and were universal by the 1960s, long before the notions of "stabilization" and "structural adjustment" came into common parlance.

The Bretton Woods agreement also imposed a foreign exchange standard by which exchange rates between major currencies were fixed in terms of the dollar, and the value of the dollar was tied to gold at a U.S. guaranteed price of thirty-five dollars per ounce. By devising a system that controlled financial movements and assisted with the adjustment of countries' balances of payments, the new system succeeded in keeping exchange rates remarkably stable. They were changed only very occasionally, e.g., as when the value of sterling relative to the dollar was reduced in 1949 and again in 1966. This meant that companies doing business abroad did not need to worry constantly about the risk of exchanging one currency for another.

Among the reasons for this remarkable stability was the willingness of the central banks of other countries to hold an increasing proportion of their official reserves in the form of U.S. dollars. It was an essential part of the system that the dollars held by other countries would be seen as IOUs backed by the U.S. offer to exchange them for gold at a fixed pre-war price. But as the balance-of-payments of the U.S. moved more deeply into deficits in the 1960s, there were more and more U.S. dollars held by other countries, and this so-called "dollar overhang" became disturbingly large.15 General de Gaulle called it "the exorbitant privilege," meaning that the Americans were paying their bills - for defense spending to fight the Vietnam War among other things - with IOUs instead of real resources in the form of exports of goods and services.

Strict control over financial movements began to weaken as early as the 1950s, when the first eurodollar (later eurocurrency) deposits were made in London. At first a trickle, limited originally to Europe, these offshore banking operations soon expanded worldwide. The American "Interest Equalization Tax" (IET) instituted in 1963 raised the costs to banks of lending offshore from their domestic branches.16 The higher external rates led dollar depositors such as foreign corporations to switch their funds from onshore U.S. institutions to eurobanks. Thus, the real effect of the IET was to encourage the dollar to follow the foreigners abroad, rather than the other way around. Eurobanks paid higher interest rates on deposits and loaned eurocurrencies at lower rates than U.S. banks could at home. Still another large inflow of eurodeposits occurred in 1973-74 as the Organization of Petroleum Exporting Countries (OPEC) began "recycling" their surplus dollar earnings through eurobanks. Because of their existence, a country such as Brazil could arrange within a reasonably regulation-free environment to obtain multimillion-dollar loans from a consortium of offshore American, German and Japanese banks and thereby finance its oil imports. Net eurocurrency deposit liabilities that amounted to around $10 billion in the mid-1960s, grew to $500 billion by 1980.

These eurocurrency transactions taught the players in financial markets how to shift their deposits, loans, and investments from one currency to another whenever exchange rates or interest rates were thought to be ready to change. Even the ability of central banks to regulate the supply of money and credit was undermined by the readiness of commercial banks to borrow and lend offshore. Hence, the effectiveness of regulatory mechanisms that had been put in place to implement the Bretton Woods agreement - interest rate ceilings, lending limits, portfolio restrictions, reserve and liquidity requirements - gradually eroded as offshore transactions started to balloon.

The world economy developed at unprecedented rates during the roughly twenty-five years immediately following World War II. Growth and employment rates during these years were at historic highs in most countries. Productivity also advanced rapidly in most developing countries as well as in the technological leaders. These facts suggest that the system devised at Bretton Woods worked reasonably well, despite occasional adjustments. To be sure, it helped to sow the seeds of its own destruction by failing to retain operational control of international financial flows. But the twenty-five years of its survival leading up to August 15, 1971, when President Nixon closed the gold window, have nonetheless come to be called by some economic historians the "Golden Years."

Controlling private risk

Fixed exchange rates did not last long after the U.S. stopped exchanging gold for claims on the dollar held by foreign central banks. The pound sterling was allowed to float against the dollar in July, 1972. Japan set the yen free to float in February, 1973, and most European currencies followed suit shortly thereafter. The Bretton Woods gold-dollar system was doomed.

The fact that exchange rates no longer were fixed meant that companies doing business in different countries had to cope with the day-to-day shifts in the dollar's rate of exchange with other currencies. The risks of unexpected changes in the value of international contracts suddenly had shifted from the public to the private sector. Corporate finance officers now had to hedge against possible exchange losses by buying a currency forward and investing the equivalent in the short-term money market, or by investing in the eurocurrency market. The corporations' banks, in turn, tried to match each foreign currency transaction with another contrary transaction in order not to leave each of the banks exposed to foreign exchange risk overnight. Since no single bank was likely to balance its foreign exchange positions exactly, the need arose to swap deposits in different currencies in order to match corporate hedging transactions and to square the bank's books.

The price of this forward cover on inter-bank transactions - that is to say, the premium or discount on a currency's spot value - has tended to accord with the differences between interest-rates offered for eurocurrency deposits in different currencies. This is the connection between the foreign exchange market and the short-term credit markets, between exchange rates and interest rates. Whenever exchange rates move up or down, therefore, their influence is immediately transmitted through the eurocurrency markets to the credit markets.

It is this scramble to avoid private risk that accounted for the dramatic rise in international financial movements following the demise of the Bretton Woods system. By 1973, daily foreign exchange trading around the world varied between $10 and $20 billion per day. This amount was approximately twice the value of world trade at the time. Bank of International Settlements data suggests that the daily average of foreign exchange trading had climbed by 1980 to about $80 billion, and that the ratio between foreign exchange trading and international trade was more nearly ten to one. The data for 1992 was $880 billion and fifty to one, respectively; for 1995, $l,260 billion and seventy to one; and for 2000, almost $1,800 and ninety to one.

There is very little doubt, therefore, that the lion's share of international financial flows is relatively short-run. Indeed, about eighty percent of foreign exchange transactions are reversed in less than seven business days. Only a very small proportion is used to finance international trade and direct foreign investment. The vast majority must be used with the expectation of gain or to avoid losses that may result from changes in the value of financial assets. In general terms, they are speculative, made in hope of capital gain or to hedge against potential capital loss, or to seek the gains of arbitrage based on slight differences in rates of return in different financial centers.


The power of financial actors17

Foreign exchange markets and markets for money and credit seem remote and abstract to most people. This section introduces the real institutions that operate these markets and assesses the nature of their power.

According to recent work by political scientists, the power of these financial actors is based in part on a complicated "process of multiplication" of loans, assets and transactions. Many investors in financial markets buy financial instruments on very thin margins, based on loans obtained by pledging the assets as collateral. This is called "leverage" in the jargon of financial markets. In turn, the borrowed funds are invested in other financial assets, multiplying the demand for credit and financial assets. As demand rises, more sophisticated financial assets are invented, including many forms of financial derivatives. A major portion of the accumulated debt remains serviceable only as long as the prices of most assets will rise or at least remain relatively stable. If prices turn down, they easily can lead to a chain-reaction. If investors respond instinctively like a herd, they will bring a far-reaching collapse that constitutes a crisis.

As the flow of financial assets climbs, some bankers, brokers, and managers of financial institutions become prominent players in the competition for investor dollars. Some become known for picking profitable places to invest and for promoting their selections successfully. This can influence markets if people have confidence in their advice. A notorious example of the influence of prominent players was the attack on British sterling in 1992 by George Soros' Quantum Fund. Believing that sterling was overvalued, the Fund quietly established credit lines that allowed it to borrow $15 billion worth of sterling and sell it for dollars at the then "overvalued" price. Its purpose, of course, was to pay back the loan with cheaper pounds after they had depreciated. Having gone long on dollars and short on sterling, Soros decided to speak up noisily. He publicized his short-selling and made statements in newspapers that the pound would soon be devalued. It wasn't long before sterling was devalued; he made $1 billion in profit.

The point can be made more generally: financial markets are subject to manipulation because they have become socially structured. Market leaders and financial gurus are admired and followed (at least until very recently). The heavyweights thus dominate the business. An obvious consequence of this is that there is a strong tendency in financial markets for further concentration of resources.

Another source of the power of financial actors is their obvious affinity for the rampant free-market philosophy of neo-liberalism. The freedom with which they move financial capital around depends, of course, on the market-friendly policies of the so-called Washington Consensus.19 As long as they are seen as part of the governing coalition, they derive special powers to regulate themselves rather than be controlled by an independent government agency or civil society. Their power also is reinforced by the activities of several collective associations of financial actors,20 which lobby on their behalf.

One more source of power for the financial actors is their knowledge that if they are big enough and sufficiently interlaced with other financial actors, then the "system" will keep them from failing. Consider the case of Long-term Capital Management, a hedge fund partnership started in 1994. It was able to borrow from various banks the equivalent of forty times its capitalization in order to make bets on changes in the relative prices of bonds in the U.S. and abroad. When the Russian government announced a devaluation and debt moratorium in August, 1998, it produced losses that the fund could not sustain. Nor could some of the banks that had loaned large amounts to the fund. Accordingly, the Federal Reserve Bank of New York, fearful that the risk to the entire system was too high, orchestrated a private rescue operation by fourteen banks and other financial institutions, which re-capitalized the company for $3.5 billion.

Financial actors also have the power indirectly to influence non-financial actors such as firms or states. By providing economic incentives to gamble and speculate on financial instruments, global financial markets divert funds from long-term productive investments. In all probability, they also encourage banks and financial institutions to maintain a regime of higher real interest rates that reduce the ability of productive enterprises to obtain credit. The volatility of global financial markets, moreover, brings uncertainty and volatility in interest rates and exchange rates that are harmful to various sectors of the real economy, particularly international trade.

The above stories about George Soros and Long-term Capital Management are good illustrations of the consequences for non-financial actors of actions by financial actors. Both episodes are examples of games that are basically zero-sum, at least in the short-run. Nothing new was produced; no new values were created. In the 1992 case about speculating against sterling, the Quantum Fund's profits were at the expense of the British government, especially the Bank of England, and British taxpayers. In 1998, the losses suffered by Long-term Capital Management came out of the pockets of the stockholders of the banks that bailed it out, as the stock-market value of their shares depreciated. Hence, the financial system tends to feed itself by drawing more resources from other sectors of the economy, undermining the vitality of the real economy.


Consequences of global financial flows

The dominant economic ideology of the last twenty-five years has been embodied in the so-called Washington Consensus. It is a "market-friendly" ideology that traces its roots to longstanding policies of the IMF that encourage macroeconomic "stabilization;" to adoption by the World Bank of ideas in vogue in Washington early in the Reagan period concerning deregulation and supply-side economics; to the zeal of the Thatcher government in England for privatizing public enterprises; and perhaps most of all to the neo-liberal tendencies of the business community and the economics profession in the U.S. The implementation of these policies of economic "reform," by first "stabilizing" the macro-economy and then "adjusting" the market so that it can perform more efficiently, are supposed to pay off in the form of faster output growth and rising real incomes

Among these policy prescriptions is financial liberalization in both the developed and the developing countries. Domestically it is achieved by weakening or removing controls on interest and credit and by diluting the differences between banks, insurance and finance companies. International financial liberation, on the other hand, demands removal of controls and regulations on both the inflows and outflows of financial instruments that move through foreign exchange markets. It is the implementation of these reforms that is perhaps the single most important cause of the surge in global financial flows. To be sure, the influence of technological advances has broken the natural barriers of space and time for financial markets as twenty-four hour electronic trading has grown. The fact that throughout most of the 1980s and 1990s the developed countries suffered from over-capacity and overproduction in manufacturing may also have led the owners of financial capital to look for alternative profit opportunities.

It now is time to ask whether the implementation of all these reforms, on balance, has produced good or bad results. The focus of this section will be mostly on the consequences of large and expanding international financial flows. After all, they are the main concern of this essay. But first, we should ask whether or not the policies of growth and rising real incomes promoted by the Washington Consensus have borne fruit.

Growth and income

There is little doubt that the introduction of the Washington Consensus' policy mix expanded the volume of international trade. As a result, trade in goods and services has grown at more than twice the rate of global gross domestic product (GDP), and developing countries' share of trade has risen from 23 to 29 percent. Increasing numbers of firms from developing countries, like their industrial-country counterparts, engage in transnational production and adopt a global perspective in structuring their operations. The flow of foreign direct investments and foreign portfolio investments has multiplied even more rapidly than trade, despite the financial instability experienced in Asia, Brazil, Russia, and elsewhere in recent years.

The effects of liberalization have not been uniformly favorable, however. After at least ten full years of experience with the Washington Consensus, several recent studies have begun to assess the consequences for developing countries of this experiment in more open markets.21 Except for the years of crisis in a number of the countries studied, most developing countries achieved moderate growth rates of gross domestic product in the 1990s - considerably higher than in the l980s in Africa and Latin America during the debt crisis, but remarkably unchanged in most other regions. Moreover, average annual growth in the 1990s was slightly lower than in the twenty-five years preceding the debt crisis when a strategy of substituting domestic production for imports was in fullest use. When population growth rates are taken into consideration, the growth rate of per capita income in the developing countries studied during the 1990s also was somewhat lower than in the 1960s and 1970s. Toward the end of the 1990s, growth tapered off in many countries due to emerging domestic financial crises or external events. There is little evidence in these figures, therefore, to suggest the strategy of liberalization boosted growth rates appreciably.

Nor did the distribution of income improve in most developing countries in the 1990s. On the contrary, virtually without exception the wage differentials between skilled and unskilled workers rose with liberalization. The reasons for this varied widely among countries, but one of the most important reasons was the fact that the number of relatively well-paid jobs in sectors of the economy involved with international trade, though growing, was insufficient to absorb available workers, forcing many workers into more precarious and poorly paid employment in the non-traded, informal trade, and service sectors or where traditional agriculture served as a sponge for the labor market. Between the mid-1960s and the late-1990s, the poorest 20 percent of the world population saw its share of income fall from 2.3 to 1.4 percent. Meanwhile, the share of the wealthiest quintile increased from 70 to 85 percent.22

Risk and reward

While all markets are imperfect and subject to failure, financial markets are more prone than others to fail because they are plagued with three particular shortcomings: asymmetric information, herd behavior and self-fulfilling panics. Asymmetric information is a problem whenever one party to an economic transaction has insufficient information to make rational and consistent decisions. In most financial markets where borrowing and lending take place, borrowers usually have better information about the potential returns and risks associated with the investments to be financed by the loans than do the lenders. This becomes especially true as financial transactions disperse across the globe, often between borrowers and lenders of widely different cultures.

Asymmetric information leads to adverse selection and moral hazard. Adverse selection occurs when, say, lenders have too little information to choose from among potential borrowers those who are most likely to use the loans wisely. The lenders' gullibility, therefore, attracts more unworthy borrowers. Moral hazard occurs when borrowers engage in excessively risky activities that were unanticipated by lenders and lead to significant losses for the lender. Yet another form of moral hazard occurs when lenders indulge in lending indiscriminately because they assume that the government or an international institution will bail them out if the loans go awry.

A good illustration of asymmetric information is the story of bank lending following OPEC's large increase in oil prices following 1973. Awash in cash, the oil exporters deposited large amounts in commercial banks that then perfected the Euro-currency loan for developing countries. Eager to put excess reserves to use, the banks spent little time discriminating among potential borrowers, in part because they believed host governments or international agencies would guarantee the loans. At the same time, developing countries found they could readily borrow not only to import oil, but also to increase other kinds of expenditures. This meant they could use borrowed funds to maintain domestic spending rather than be forced to adjust to the new realities of higher prices for necessary imports. There is considerable evidence that moral hazard also was present in the Mexican crises in 1982 and 1994, and in the Southeast Asian crises in 1997-8.

Yet another illustration of asymmetric information is the tendency of financial firms, especially on Wall Street and in the City of London, to invent ever more complex derivatives to shift risk around the financial system. The market for these products is growing rapidly, both on futures and options exchanges (two of the several places where derivatives are traded). A financial engineer, for example, can take the risk in, say, a bond and break it down into a series of smaller risks, such as that inflation will reduce its real value or that the borrower will default. These smaller risks can then be priced and sold, using derivatives, so that the bondholder keeps only those risks he wishes to bear. But this is not a simple task, particularly when it involves assets with risk exposures far into the future and which are traded so rarely that there is no good market benchmark for setting the price. Enron, for instance, sold a lot of these sorts of derivatives, booking profits on them immediately even though there was a serious doubt about their long-term profitability. Stories of huge losses incurred in derivative trading are legion. The real challenge before central banks and regulatory bodies is to curb speculative behavior and bring discipline in derivative markets.

A second source of risk in financial markets is the tendency of borrowers and lenders alike to engage in herd behavior. John Maynard Keynes, writing in the 1930s, suggested that financial markets are like "beauty contests." His analogy was to a game in the British Sunday newspapers that asked readers to rank pictures of women according to their guess about the average choice by other respondents. The winner, therefore, does not express his own preferences, but rather anticipates "what average opinion expects average opinion to be." Accordingly, Keynes thought that anyone who obtained information or signals that pointed to swings in average opinion and to how it would react to changing events had the basis for substantial gain. Objective information about economic data was not enough. Rather, simple slogans "like public expenditure is bad," "lower unemployment leads to inflation," "larger deficits lead to higher interest rates," were then the more likely sources of changes in public opinion. What mattered was that average opinion believed them to be true, and that advance knowledge of, say, more public spending, lower unemployment, or larger deficits, respectively, offered the speculator a special advantage.

A financial market that operates as a beauty contest is likely to be highly unstable and prone to severe changes. One reason for this is that people trading in financial assets, even today, know very little about them. People who hold stock know little about the companies that issued them. Investors in mutual funds know little about the stocks their funds are invested in. Bondholders know little about the companies or governments that issued the bonds. Even knowledgeable professionals are often more concerned with judging how swings in conventional opinion might change market values rather than with the long-term returns on investments. Indeed, since careful analysis of risks and rewards is costly and time consuming, it often makes sense for fund managers and traders to follow the herd. If they decide rationally not to follow the herd, their competence may be seriously questioned. On the other hand, if fund managers follow the herd and the herd suffers losses, few will question their competence because others too suffered losses. When financial markets are operated like a beauty contest, everyone wants to sell at the same time and nobody wants to buy.

The financial markets behaved as predicted shortly after several industrial countries, including the U.S. and Germany, abolished all restrictions on international capital movements in 1973. The new system proved to be highly volatile, with exchange rates, interest rates, and financial asset-prices subject to large short-term fluctuations. The markets also were susceptible to contagion when financial tremors spread from their epicenter to other countries and markets that seemingly had little connection with the initial problem. In less than five years, it already was clear that both the surpluses and the deficits on the major countries' balance of payments were getting larger, not smaller, despite significant changes in the exchange rates.

In some cases, a financial crisis can be self-fulfilling. A rumor can trigger a self-fulfilling speculative attack, e.g. on a currency, that may be baseless and far removed from the economic fundamentals (unlike the Soros story above). This can cause a sudden shift in the herd's intentions and lead to unanticipated market movements that create severe financial crises. Consider, for example, the succession of major financial crises that have pock-marked the recent history of international financial markets, including Latin America's Southern Cone crisis of 1979-81, the developing-country debt crisis of 1982, the Mexican crisis of 1994-95, the Asian crisis of 1997-98, the Russian crisis of 1998, the Brazilian crisis of 1999, and the Argentine crisis of 2001-02.

Perhaps the Asian crisis of 1997-98 is the most interesting in this regard, for there were relatively few signals beforehand of impending crisis. All the main East Asian economies displayed in 1994-96 low inflation, fiscal surpluses or balanced budgets, limited public debt, high savings and investment rates, substantial foreign exchange reserves and no signs of deterioration before the crisis. This background has led many analysts to suppose that the crisis was a mere product of the global financial system. But what could have triggered the herd to stampede out of Asian currencies? No doubt several factors were at work. Before the crisis that started in the summer of 1997, there was a rise in short-term lending to Asians by Western and Japanese banks with little or no premiums, a fact that the Bank for International Settlement raised questions about. Alert investors, especially hedge funds, also noticed that substantial portions of East and Southeast Asian borrowings were going into non-productive assets and real estate that often were linked to political connections. In fact, some of the funds pouring into non-productive assets were coming out of the productive sector, mortgaging the longer-term viability of some real economies. Information about the structure and policies of financial sectors was opaque. Thus, opinions began to change among key lenders about the regulation of financial sectors in several Asian countries and their destabilizing lack of transparency. Suddenly, several important hedge funds reduced their exposure by shorting currency futures, followed quickly by Western mutual funds. The calling of loans led quickly to deep depression in several Asian countries. It has been estimated that the Asian crisis and its global repercussions cut global output by $2 trillion in 1998-2000.

Loss of government autonomy

Both economic theory and the experience of managing the external financial affairs of nations tell us that it is virtually impossible to maintain (1) full financial mobility, (2) a fixed exchange rate, and (3) freedom to seek macro-economic balance (full employment with little inflation) with appropriate monetary and fiscal policies. Only two of these policy objectives can be consistently maintained. If the authorities try to pursue all three, they will sooner or later be punished by destabilizing financial flows, as in the run up to the Great Depression around 1930 and in the months before sterling's collapse 1992. If a government tries to stimulate its economy with lax monetary policy, for example, and players with significant market power like George Soros sense that at a fixed exchange rate, foreigners will be unwilling to lend enough to finance the country's current account deficit, they will begin to flee the home currency in order to avoid the capital losses they will suffer if and when there is a devaluation. If reserve losses accelerate and more players follow suit, crisis ensues. The authorities are forced to devalue, interest rates soar, and the successful attackers sit back to count their profits.

For nations wishing to retain reasonably independent monetary and fiscal authority in order to cater to domestic needs, the solution is to allow the exchange rate to move up or down as conditions in the foreign exchange markets dictate, or to establish some sort of control over the movement of financial instruments in and out of the country, or to devise some combination of these two adjustment mechanisms. The debate over whether fixed or flexible exchange rates is the wiser policy continues to rage in academic quarters and in finance ministries all over the world. For the most part, the international business community prefers reasonably fixed exchange rates in order to minimize their costs of hedging foreign currency positions. Thus instituting some form of control over speculative financial movements may be an appropriate solution to the "trilemma."

The capacity of a nation to levy enough taxes to finance needed public expenditures is another important reason to retain independent authority. A central function of government has been to insulate domestic groups from excessive market risks, particularly those originating in international transactions. This is the way governments have maintained domestic political support for liberalizing trade and finance throughout the postwar period. Yet many governments are less able today to help citizens that are injured by freer markets with unemployment compensation, severance payments, and adjustment assistance because the slightest hint of raising taxes to pay for these vital public services leads to capital flight in a world of heightened financial mobility.

This is a dilemma. Increased integration into the world economy has raised the need of governments to redistribute tax revenues or implement generous social programs in order to protect the vast majority of the population that remains internationally immobile. At the same time, governments find themselves less able to maintain the safety nets needed to preserve social stability. It seems reasonable to suppose, therefore, that doing things that will bolster the ability of governments to levy sufficient taxes - curbing tax avoidance by transnational corporations, controlling offshore tax havens, regulating capital flight - would help make globalization slightly more democratic.

Winners and losers

The people who benefit from speculative financial movements are, for the most part, better educated and wealthier than the vast majority of fellow citizens. They are the elites, whatever the country. As noted above, they have fewer connections to the real economy of production and exchange than most people. And their purpose in trading financial assets, again for the most part, is to make a profit quickly rather than wait for an investment project to mature.

People who do not participate directly in the buying and selling of short-term financial instruments are nonetheless influenced indirectly by the macroeconomic instability and contagion that often accompany interruptions in financial market flows. This is true for people both in developed and developing countries. In developed countries, the voracious appetite of financial markets for more and more resources saps the vitality of the real economy - the economy that most people depend upon for their livelihood. It has been shown that real interest rates rise as a result of the expansion of speculative financial markets. This rise in real interest rates, in turn, dampens real investment and economic growth while serving to concentrate wealth and political power within a growing worldwide rentier class (people who depend for their income on interest, dividends, and rents).23 Rather, the long-term health of the economy depends upon directing investable funds into productive investments rather than into speculation.

In developing countries, attracting global investors' attention is a mixed blessing. Capital market inflows provide important support for building infrastructure and harnessing natural and human resources. At the same time, surges in money market inflows may distort relative prices, exacerbate weakness in a nation's financial sector, and feed bubbles. As the 1997 Asian crisis attests, financial capital may just as easily flow out of as into a country. Unstable financial flows often lead to one of three kinds of crises:

Although these three types of crises sometimes appear singly, they more often arrive in combination because external shocks or changed market expectations are likely to occur simultaneously in the market for government bonds, the foreign exchange market, and the markets for bank assets. Approximately sixty developing countries have experienced extreme financial crises in the past decade.24

The vast majority of people in the developing world suffer from these convulsive changes. They are tired of adjusting to changes over which they exercise absolutely no control. Most people in these countries view Western capitalism as a private club, a discriminatory system that benefits only the West and the elites who live inside "the bell jars" of poor countries. Even as they consume the consumer goods of the West, they are quite aware that they still linger at the periphery of the capitalist game. They have no stake in it, and they believe that they suffer its consequences. As Hernando deSoto puts it, "Globalization should not be just about interconnecting the bell jars of the privileged few."25

Social solidarity

Karl Polanyi in The Great Transformation sought to explain how the "liberal creed" contributed to the catastrophes of war and depression associated with the first half of the twentieth century. Polanyi's central argument, which in fact can be traced back to Adam Smith, is that markets do indeed promote efficiency and change, but that they achieve this through undermining social coherence and solidarity. Markets must therefore be embedded within social institutions that mitigate their negative consequences.

The evidence of more recent times suggests that the global spread of free-market policies has been accompanied by the decline of countervailing institutions of social solidarity. Indeed, a main feature of the introduction of market-friendly policies has been to weaken local institutions of social solidarity. Consider, for example, the top-down policy prescriptions of the IMF and World Bank during the developing world's debt crisis in the 1980s. These policies evolved into an intricate web of expected behaviors by developing countries. In order for developing countries to expect private businesses and financial interests to invest funds within their borders and to boost the growth potential of domestic economies, they needed to drop the "outdated and inefficient" policies that dominated development strategies for most of the postwar period and adopt in their place policies that are designed to encourage foreign trade and freer financial markets. Without significant adjustments in the ways economies were managed, it was suggested, nations soon would be left behind.

The list of Washington Consensus requirements was long and daunting:

In a provocative article, Ute Pieper and Lance Taylor point out that market outcomes often conflict with other valuable social institutions. In addition, they emphasize that markets function effectively only when they are "embedded" in society. The authors then look carefully at the experience of a number of developing countries as they struggled to comply with the policy prescriptions of the IMF and the Fund. In almost every case, they demonstrate conclusively that the impact of these efforts was to make society an "adjunct to the market."26

An appropriate balance is not being struck between the economic and non-economic aspirations of human beings and their communities. Indeed, the evidence is mounting that globalization's trajectory can easily lead to social disintegration - to the splitting apart of nations along lines of economic status, mobility, region, or social norms. Globalization not only highlights and exacerbates tensions among groups; it also reduces the willingness of internationally mobile groups to cooperate with others in resolving disagreements and conflicts.


Policy options

History confirms that free-markets are inherently volatile institutions, prone to speculative booms and busts. Overshooting, especially in financial markets, is their normal condition. To work well, free markets need not only regulation, but active management. During the first half of the post-war era, world markets were kept reasonably stable by national governments and by a regime of international cooperation. Only lately has a much earlier idea been revived and made an orthodoxy - the idea adopted by the Washington Consensus that, provided there are clear and well-enforced rules-of-the-game, free markets can be self-regulating because they embody the rational expectations that participants form about the future.

On the contrary, since markets are themselves shaped by human expectations, their behavior cannot be rationally predicted. The forces that drive markets are not mechanical processes of cause and effect, as assumed in most of economic theory. They are what George Soros has termed "reflexive interactions."27 Because markets are governed by highly combustible interactions among beliefs, they cannot be self-regulating.

The question before us then, is what could be done to better regulate financial markets and to bring active management back into the task of "embedding" markets in society, rather than the other way around? Monetary authorities such as the Federal Reserve System in the U.S. and the central banks of other countries were formed long ago in order to dampen the inherent instabilities of financial market in their home countries. But the evolution of an international regulatory framework has not kept pace with the globalization of financial markets. The International Monetary Fund was not designed to cope with the volume and instability of recent financial trends.

Capital controls

Given the problems outlined above about short-term speculative financial transactions, one might wonder why national policy-makers have not insulated their financial markets by imposing some sort of control over financial capital. The answer, of course, is that some have continued trying to do so despite discouragement from the IMF. For example, some have put limitations on the quantity, conditions, or destinations of financial flows. Others have tried to impose a tax on short-term borrowing by national firms from foreign banks. This is said to be "market-based" because it operates by altering the cost of foreign funds. If such transactions were absolutely prohibited, they would be called "non-market" interventions.

A more extreme form of financial capital controls, one that controls movement of foreign exchange across international borders, also has been tried in a number of countries. This form of control requires that some if not all foreign currency inflows be surrendered to the central bank or a government agency, often at a fixed price that differs from that which would be set in free market. The receiving agency then determines the uses of foreign exchange. The absence of exchange controls means that currencies are "convertible."

The neo-liberal argument opposing financial capital controls asserts that their removal will enhance economic efficiency and reduce corruption. It is based on two basic propositions in economic theory that depend for their proof on perfectly competitive markets in the real economy and perfectly efficient gatherers and transmitters of information in financial markets. Neither assumption is realistic in today's world. Indeed, a number of empirical studies have reported the effectiveness of capital controls in controlling capital flight, curbing volatile capital flows and protecting the domestic economy from negative external developments.

Developing countries have only recently abandoned, or still maintain, a variety of control regimes. Latin American countries traditionally have used market-based controls, putting taxes and surcharges on selected financial capital movements or tying them up in escrow accounts. Non-market based restrictions were more common in Asia until the early 1990s. Many commentators believe that their sudden removal in the early 1990s was a contributing cause to the Asian financial crises in 1997-8. The experience of two countries, Malaysia and Chile, with capital controls is especially instructive.

Malaysia, unlike its Asian neighbors, was reluctant to remove its restrictions on external borrowing by national firms unless they could show how they could earn enough foreign exchange to service their debts. Then when the Asian crises hit, its government imposed exchange controls, in effect making its local currency that was held outside the country inconvertible into foreign exchange. After the ringget was devalued, exporters were required to surrender foreign currency earnings to the central bank in exchange for local currency at the new pegged rate. The government also limited the amount of cash nationals could take abroad, and it prohibited the repatriation of earnings on foreign investments that had been held for less than one year. Thus, Malaysia's capital controls were focused mostly on controlling the outflow of short-term financial transactions. Happily, the authorities were able to stabilize the currency and reduce interest rates, leading to a degree of domestic recovery.28

Chile, on the other hand, tried to limit the inflow of short-term financial transactions. It did so by imposing a costly reserve requirement on foreign-owned capital held in the country for less than one year. Despite attempts to stimulate foreign direct investment of the funds, most of the reserve deposits were absorbed in the form of increased reserves at the central bank. In turn, this created a potential for expanding the money supply, which the government feared would lead to inflation. Rather than allow this to happen, the government "sterilized" the inflows by selling government bonds from its portfolio. But this pushed down the prices of bonds and pushed up the interest rates on them, discouraging business investment. Finally, when prices of copper (Chile's primary export) fell sharply in 1998, the control regime was scrapped.29

The tobin tax

A global tax on international currency movements was first proposed by James Tobin, a Yale University economist, in 1972.30 He suggested that a tax of one-quarter to one percent be levied on the value of all currency transactions that cross national borders. He reasoned that such a tax on all spot transactions would fall most heavily on transactions that involve very short round-trips across borders. In other words, it would be speculators with very short time-horizons that the tax would deter, rather than longer-term investors who can amortize the costs of the tax over many years. For example, the yearly cost of a 0.2 percent round trip tax would amount to 48 percent of the value of the traded amount if the round trip were daily, 10 percent if weekly and 2.4 percent if monthly. Since at least eighty percent of spot transactions in the foreign exchange markets are reversed in seven business days or less, the tax could have a profound effect on the costs of short-term speculators.

Of course, for those who believe in the efficiency of markets and the rationality of expectations, a transactions tax would only hinder market efficiency. They argue that speculative sales and purchases of foreign exchange are mostly the result of "wrong" national monetary and fiscal policies. While we readily admit that national policies sometimes do not accord with desired objectives, they nonetheless have little relevance for speculators focused on the next few seconds, minutes or hours.

Tobin did not intend for his proposal to involve a supranational taxation authority. Rather, governments would levy the tax nationally. In order to make the tax rate uniform across countries, however, an international agreement would have to be entered into by at least the principal financial centers. The revenue obtained from the tax could be designated for each country's foreign exchange reserve for use during periods of instability, or it could be directed into a common global fund for uses like aid to the poorest nations. In the latter case, the feasibility of the tax also would depend on an international political agreement. The revenue potential is sizeable, and could run as high as $500 billion annually.

There are two other advantages often cited by proponents of the Tobin tax. Tobin's original rationale for a foreign exchange transactions tax was to enhance policy autonomy in a world of high financial capital mobility. He argued that currency fluctuations often have very significant economic and political costs, especially for producers and consumers of traded goods. A Tobin tax, by breaking the condition that domestic interest rates may differ from foreign interest rates only to the extent that the exchange rate is expected to change (see p. 10), would allow authorities to pursue different policies than those prevailing abroad without exposing them to large exchange rate movements. More recent research suggests that this is only a very modest advantage.31

An additional advantage of the tax is that it could facilitate the monitoring of international financial flows. The world needs a centralized data-base on all kinds of financial flows. Neither the Bank for International Settlements nor the IMF has succeeded in providing enough information to monitor them all. This information should be regularly shared among countries and international institutions in order to collectively respond to emerging issues.

The feasibility issues raised by the Tobin tax are more political than technical. One of the issues is about the likelihood of evasion. All taxes suffer some evasion, but that has rarely been a reason for avoiding them. Ideally all jurisdictions should be a party to any agreement about a common transactions tax, since the temptation to trade through non-participating jurisdictions would be high. Failing that, one could levy a penalty on transactions with "Tobin tax havens" of, say, double the normal tax rate. Moreover, one could limit the problem of substituting untaxed assets for taxed assets by applying the tax to forwards, swaps and possibly other contracts.

Tobin and many others have assumed that the task of managing the tax should be assigned to the IMF. Others argue that the design of the tax is incompatible with the structure of the IMF and that the tax should be managed by a new supranational body. Which view will prevail depends upon the resolution of other outstanding issues. The Tobin tax is an idea that deserves careful consideration. It should not be dismissed as too idealistic or too impractical. It addresses with precision the problems of excessive instability in the foreign exchange markets, and it yields the additional advantage of providing a means to assist those in greater need.

Reforming the IMF

The IMF was established in 1944 to provide temporary financing for member governments to help them maintain pegged exchange rates during a period of internal adjustment. With the collapse of the pegged exchange rate regime in 1971, that responsibility has been eclipsed by its role as central arbiter of financial crises in developing countries. As noted above (p. 20), these crises may be of three different kinds: fiscal crises, foreign exchange crises, and banking crises.

Under current institutional arrangements, a nation suffering a serious fiscal crisis that could easily lead to default must seek temporary relief from its debts from three different (but interrelated) institutions: the IMF, which is sometimes willing to renegotiate loans in return for promises to adopt more stringent policies (see above); the so-called Paris Club that sometimes grants relief on bilateral (country to country) credits; and the London Club that sometimes gives relief on bank credits. This is an extremely cumbersome process that fails to provide debtor countries with standstill protection from creditors, with adequate working capital while debts are being renegotiated, or with ways to ensure an expeditious overall settlement. The existing process often takes several years to complete.

There is a growing consensus that this problem is best resolved with creation of a new international legal framework that provides for de facto sovereign bankruptcy. This could take the form of an International Bankruptcy Code with an international bankruptcy court, or it could involve a less formal functional equivalent to its mechanisms: automatic standstills, priority lending, and comprehensive reorganization plans supported by rules that do not require unanimous consent. Jeffrey Sachs recommends, for example, that the IMF issue a clear statement of operating principles covering all stages of a debtor's progression through "bankruptcy" to solvency. A new system of emergency priority lending from private capital markets could be developed, he suggests, under IMF supervision. He also feels that the IMF and member governments should develop model covenants for inclusion in future sovereign lending instruments that allow for priority lending and speedy renegotiation of debt claims.32

At the Joint Meeting of the IMF and the World Bank in September, 2002, the policy committee directed the IMF staff to develop by April, 2003, a "concrete proposal" for establishing an internationally recognized legal process for restructuring the debts of governments in default. It also endorsed efforts to include "collective action" clauses in future government bond issues to prevent one or two holdout creditors from blocking a debt-restructuring plan approved by a majority of creditors. The objective of both proposals is to resolve future debt crises quickly and before they threaten to destabilize large regions, as happened in Southeast Asia in 1997-98.

Member countries rarely receive support from the IMF any longer to maintain a particular nominal exchange rate. Because financial capital is so mobile now, pegged exchange rates probably are unsupportable. But there are special times when the IMF still might give such support during a foreign exchange crisis. International lending to support a given exchange rate is legitimate if the government is trying to establish confidence in a new national currency, or if its currency is recovering from a severe bout of hyperinflation. Ordinarily the foreign exchange should be provided from an international stabilization fund supervised by the IMF.

National central banks usually supervise and regulate the domestic banking sector. Thus, banking crises normally are handled by domestic institutions. This may not be possible, however, if the nation's banks hold large short-term liabilities denominated in foreign currencies. If the nation's central bank has insufficient reserves of foreign currencies to fund a large outflow of foreign currencies, there may be circumstances when the IMF or other lenders may wish to act as lenders-of-last-resort to a central bank under siege. Nations like Argentina that have engaged in "dollarization" are learning about the downside risks of holding large liabilities denominated in foreign currencies. The best way to avoid this problem is for governments and central banks to restrict the use of foreign currency deposits or other kinds of short-term foreign liabilities at domestic banks.

Overall, what is most needed is the availability of more capital in developing countries and much quicker responses, amply funded, to emerging financial crises.. George Soros has argued powerfully that the IMF needs to establish a better balance between crisis prevention and intervention.33 The IMF has made some progress in prevention by introducing Contingency Credit Lines (CCLs). The CCL rewards countries that follow sound policies by giving them access to IMF credit lines before rather than after a crisis erupts. But CCL terms were set too high and there have been no takers. Soros also has recommended the issuance of Special Drawing Rights (SDRs) that developed-countries would donate for the purpose of providing international assistance. Its proceeds would be used to finance "the provision of public goods on a global scale as well as to foster economic, social, and political progress in individual countries."34

A growing number of civil society institutions, however, oppose giving more money to the IMF unless it is basically reformed. They point out that it is a committed part of the Washington Consensus, the application of whose policies have made societies adjuncts of the market. They see the IMF as an instrument of the U.S. government and its corporate allies. The conditions it attaches to loans for troubled countries often do more to protect the interests of first world investors than to promote the long-term health of the developing countries. The needed chastening of speculative investors does not occur under these circumstances. There is evidence that in several major crises, IMF requirements for assisting nations have in fact worsened the situation and protracted the crises. The IMF opposed the policies that enabled Malaysia to weather the crisis in Southeast Asia, for example, while it urged the failed policies of other Southeast Asian nations. The vast literature cited by Pieper and Taylor (p. 22) is a convincing chronicle of earlier missteps. For such reasons as these, some civil society institutions argue that, unless IMF policies are changed, giving the institution more money will do more harm than good.

Fortunately, the IMF's policies are beginning to change, partly as a result of criticisms by civil society institutions, but more through recognition of the seriousness of the problems with the present system. In the wake of recent financial crises, leaders in the IMF as well as the World Bank are looking for ways to reform the international financial architecture. Arguably, their emphasis is shifting away from slavish devotion to the prescriptions of the Washington Consensus and toward more state intervention in financial markets. Joseph Stiglitz, the Nobel Laureate who has been particularly critical of the IMF, nonetheless acknowledges that its policy stances are improving.35

The IMF has begun to recognize the importance of at least functional public interventions in markets and the need to provide more supporting revenues. It has realized that controls on external financial movements and prudent regulation can help contain financial crises. It has abandoned the doctrine, long the backbone of structural adjustment policies, that raising the local interest rate will stimulate saving and thereby growth. Both the IMF and the World Bank have rolled over or forgiven the bulk of official debt owed by the poorest economies.

Whether these and other promising changes in IMF thinking and policy formation are sufficient to assure that its future responses to crises will be benign still is not clear. While celebrating what they view as belated improvements, many critics of the IMF among civil society institutions are not convinced that they are sufficiently basic. Even if the IMF avoids repeating some of its more egregious mistakes, some believe that it is likely to continue to function chiefly for the benefit of the international financial community rather than the masses of people. Rather, they believe that, at least in the long term, it would be much better for control over international finance to reside in new institutions under a restructured United Nations. They favor the U.N. because it has a broader mandate, is more open and democratic, and, in its practice, has given much greater weight to human, social, and environmental priorities.

Many civil society institutions want the primary focus of reform to be on taming speculation, restoring the control of their economies to nations, and embedding economies in the wider society. They believe that if these policies are adopted there will be less need for large funding to deal with financial crises. There remains, however, the fact that such crises are occurring and will continue to occur for some time. The IMF is the only institution positioned to respond to these crises. Hence, even for those who sympathize with the goals of the civil society institutions, there is a strong argument for more financing for the IMF.

A world financial authority

A variety of public and private citizens and institutions have recently proposed the establishment of a World Financial Authority (WFA) to perform in the domain of world financial markets what national regulators do in domestic markets. Some believe it should be built upon the foundation of global financial surveillance and regulation that have already been laid by the Bank for International Settlements in Basel, Switzerland. Others regard it as a natural extension of the activities of the IMF. Still others are less interested in the precise institutional form it would take than in the clear delineation of the tasks that need to be done by someone.

Its first task probably should be to provide sufficient and timely financial assistance during crises to avert contagion and defaults. This requires a lender-of-last-resort with sufficient resources and authority to disperse rescue money quickly. Perhaps the best example to date is the bailout loan to Mexico by the U.S. Treasury and the IMF at the end of 1994. It supplied sufficient liquidity for Mexico to make the transition back to stability and to pay back the loans ahead of time. The management of the Asian crises in 1997-8, on the other hand, was badly handled. The bailout packages offered by the IMF were not only significantly smaller than in the Mexico case; they also were constrained with so many conditions that a year later only twenty percent of the funds had been disbursed. This slow response to the crisis probably worsened the contagion. Surprisingly, the error was repeated in the Russian crisis in 1998 and the Brazilian crisis in 1999.

A World Financial Authority also should provide the necessary regulatory framework within which the IMF or a successor institution can develop as a lender-of-last-resort. As long as domestic regulatory procedures function properly, there will be no need for a world authority to be involved, any more than to certify that domestic regulatory procedures are effective. In countries where domestic financial regulation is unsatisfactory, the WFA would assist with regulatory reform. In this way, the WFA could aid financial reconstruction, reduce the likelihood of moral hazard, and give confidence to backers of the operation.

There is little appetite today, especially in Washington, to create a new international bureaucracy. This fact gives support to the idea of building the WFA from the existing infrastructure of the Bank for International Settlements (BIS). The BIS is a meeting place for national central bankers who have constructed an increasingly complicated set of norms, rules and decision-making procedures for handling and preventing future crises. Its committees and cooperative cross-border regulatory framework enjoy the confidence of governments and of the financial community. It may well be the best place to govern an international regulatory authority at the present time.


Theological and ethical considerations

While Christian theology cannot provide us with detailed recommendations on how to correct the adverse consequences of speculative financial movements, it can provide us with an empowering perspective or worldview. Our theological expressions of the faith describe the source of our spiritual energy and hope. They betray our ultimate values and the source of our ethical norms. They shape how we perceive and judge the "signs of the times."

God's world and human responsibilities

Nothing in creation is independent of God. "The earth is the Lord's and all that is in it, the world, and all those who live in it." (Ps. 24:1 NRSV) Thus, no part of the creation - whether human beings, other species, the elements of soil and water, even human-made things - is our property to use as we wish. All is to be treated in accord with the values and ground rules of a loving God, their ultimate owner, who is concerned for the good of the whole creation. All of God's creation therefore deserves to be treated with appropriate care and concern, no matter how remote from one's daily consciousness or existence.

The doctrine of creation reminds us that our ultimate allegiance is not to the nationalistic and human-centered values of our culture, but rather to the values of the loving Maker of heaven and earth. When we seek plenty obsessively, consume goods excessively, compete against others compulsively, or commit ourselves to Economic Fate, we are worshiping false gods. Modern idolatries are often encountered in economic forms, just as in the New Testament's warnings about the spiritual perils of prosperity in the parables of the rich, hoarding fool (Luke 12:15-21) and the rich youth (Matt. 19:16-24 and Luke 18:18-25).

The fact that so much of financial speculation is divorced from the real economy of production and exchange suggests that its paper transactions are more like bets in a casino than an essential component of God's real economy, which seeks the good of all creation. It is wrong to subject people to the effects of wholesale gambling. The fact that the practice of financial speculation is secretive, compulsively competitive, and frequented by lone rangers, moreover, hints at a cult of false idols. Its practitioners, including especially day-traders, seem interested only in exceedingly short-term personal financial advantage, unconcerned about the long-term consequences of their actions or their impact on others. This also indicates a degree of idolatry that contradicts the doctrine of creation.

Image of God

The conviction that human beings have a God-given dignity and worth (Gen. 1:26-28) unites humanity in a universal covenant of rights and responsibilities - the family of God. All humans are entitled to the essential conditions for expressing their human dignity and for participation in defining and shaping the common good. These rights include satisfaction of basic biophysical needs, environmental safety, full participation in political and economic life, and the assurance of fair treatment and equal protection of the laws. These rights define our responsibilities in justice to one another, locally, nationally and - because they are human rights - internationally.

Financial speculation often leads to unmanageable floods of funds into and out of host societies, creating unwanted bubbles and panics. Financial speculators normally ignore the human consequences of their activities on the rights of people in host societies, where economic adjustments are shared widely and painfully. Their primary interest is short-term personal financial gain. The absence of a sense of covenantal unity with their brothers and sisters of the developing world is a sad commentary on the governing ethic of speculators in the capital markets. Their arrogance calls for some form of control over foreign exchange and financial capital markets.

Justice in covenant

The rights and responsibilities associated with the image of God are inextricably tied to the stress on justice in Scripture and tradition. We render to others their due because of our loving respect for their God-given dignity and value. The God portrayed in Scripture is the "lover of justice" (Ps. 99:4, 33:5, 37:28, 11:7; Isa. 30:18, 61:8; Jer. 9:24). Justice is at the ethical core of the biblical message. Faithfulness to covenant relationships, moreover, demands a justice that recognizes special obligations, "a preferential option" to widows, orphans, the poor, and aliens, which is to say the economically vulnerable and politically oppressed. Hence, the idea of the Jubilee Year (Lev. 25) was meant to prevent unjust concentrations of power and poverty. Jesus' ministry embodies concern for the rights and needs of the poor; He befriended and defended the dispossessed and the outcasts.

The fact that the liberalization of trade and finance has failed to improve the distribution of incomes, indeed, that it has widened the gap between rich and poor in virtually every country, is not a sign of distributive justice but of its opposite. The standard of living for the least skilled, least mobile, and poorest citizens of many developing countries has declined absolutely. This, too, is an unjust result of a broken system. The fact that governments that wish to assist the vulnerable and weak of their societies are less able to do so, in part because they no longer can levy sufficient taxes on foreign interests, is a violation of justice in community.

Sin and judgment

Sin is a declaration of autonomy from God, a rebellion against the sovereign source of our being. It makes the self and its values the center of one's existence, in defiance of God's care for all. Sin tempts us to value things over people, measuring our worth by the size of our wealth and the quantity of goods we consume, rather than by the quality of our relationships with God and with others. Sin involves injustice because its self-centeredness defies God's covenant of justice, grasping more than one's due and depriving others of their due.

Sin is manifested not only in individuals, but also in social institutions and cultural patterns. These structural injustices are culturally acceptable ways of giving some individuals and groups of people advantage over others. Because they are pervasive and generally invisible, they compel our participation. They benefit some and harm many others. Whether or not we deserve blame as individuals and churches for these social sins depends in part on whether we defend or resist them, tolerate or reject them.

The fact that the freeing of financial markets has permitted financial speculators to engage in high-risk gambles without regard to the consequences for others is abundant evidence of both individual and institutional sin. The policies of the Washington Consensus frequently lead to adverse consequences for the poor and the environment, even as its proponents gain advantages from the implementation of such policies. They are another serious expression of social sin in our time. These policies inevitably increase the concentration of economic power in fewer hands. The fact that the global spread of free-market policies has led to the decline of countervailing institutions of

social solidarity means that it is easier for the centers of economic power to corrupt governments, control markets, alienate neighbors, manipulate public opinion, and contribute to a sense of political impotency in the public.

The Church's mission and hope

The church is called to be an effective expression of the Reign of God, which Jesus embodied and proclaimed. This ultimate hope is a judgment on our deficiencies

and a challenge to faithful service. God's goal of a just and reconciled world is not simply our final destiny but an agenda for our earthly responsibilities. We are called to be a sign of the Reign of God, on earth as it is in heaven, to reflect the coming consummation of God's new covenant of shalom to the fullest extent possible.


A new financial architecture

In her path-breaking book, Casino Capitalism,36 Susan Strange likens the Western financial system to a vast casino. As in a casino,

"the world of high finance today offers the players a choice of games. Instead of roulette, blackjack, or poker, there is dealing to be done - the foreign-exchange market and all its variations; or in bonds, government securities or shares. In all these markets you may place bets on the future by dealing forward and by buying or selling options and all sorts of other recondite financial inventions. Some of the players - banks especially - play with very large stakes. There are also many quite small operators. There are tipsters, too, selling advice, and peddlers of systems to the gullible. And the croupiers in this global finance casino are the big bankers and brokers. They play, as it were, "for the house.' It is they, in the long run, who make the best living."

She goes on to observe that the big difference between ordinary kinds of gambling and speculation in financial markets is that one can choose not to gamble at roulette or poker, whereas everyone is affected by "casino capitalism." What goes on in the back offices of banks and hedge funds "is apt to have sudden, unpredictable and unavoidable consequences for individual lives."

It is this volatility, this instability in financial markets that has given rise to recurring financial crises. They must be tamed. In the wake of recent financial crises, people are beginning to look for ways to reform the international financial architecture. Although it is difficult to move from general theological convictions to specific proposals, we offer the following suggestions for consideration by Christians and other persons of good will.

Of these recommendations, perhaps the most controversial is that more funds be given to the IMF. We noted above that much of the criticism of the IMF is justified. We also acknowledged that the IMF is improving its policies. We hope that these improvements will continue. Meanwhile, there is no other viable candidate to serve as lender-of-last-resort - an absolutely essential feature of any new financial architecture.

The major reason some civil society institutions resist funding the IMF further is its history of misguided structural adjustment policies, policies that are now widely recognized to have caused widespread suffering. We hope that recent changes will improve this situation as well and enable the IMF to perform the important role we recommend for it.

Along with the World Bank, it is beginning to contextualize its performance criteria and conditionalities, taking much more seriously the unique circumstances of particular economies. It is listening more and nitpicking less. To be sure, the IMF is not likely to abandon its policy of making its loans conditional on the adoption by borrowing countries of mutually agreed economic policies. Even so, there is considerable evidence that when it has had more resources on hand, conditionality has been correspondingly wiser and less draconian.

The IMF now recognizes that it can leave more decisions to developing countries partly because these have better informed and more sophisticated employees than was once the case. Certainly in Latin America and Asia and increasingly in Africa, country economic teams are better qualified technically than the lower rung Ph.D.s from American and European universities to whom the IMF and World Bank entrust their missions. Local economists can do financial programming and standard macroeconomic modeling as well as or better than the people from Washington can; they also know how to do investment project analysis. To be sure, decisions about financial and project plans must include input from many other elements of a society.

We can encourage the IMF (and World Bank) to reverse the typical procedure in setting conditions for multilateral loans. Instead of waiting for it to specify the policies that must be followed to justify additional financing, country economic teams, in consultation with other agencies of their government, should be allowed to propose economic programs to the IMF. Disagreements between Washington staff assessments and the local teams could be resolved directly or by third-party arbitration. The scope of economic conditionality could also be restricted, for example, just to a balance-of-payments target, while the country could pursue its own agenda regarding inflation, income distribution, and growth.


What Christians can do

A primary part of the "principalities and powers" referred to in the Bible is composed of the political-economic institutions and processes that govern how people relate economically to each other and to God's whole creation. The church has a stake in their design. Yet many church members feel powerless to change basic political-economic reality. They think either that the economic conditions of society result "naturally" from the forces of markets that are only marginally within the power of human control, or that economic conditions result from powerful interests that are beyond the reach of ordinary citizens. Thus, there's nothing that can be done about it, or there's nothing we can do about it.

On the contrary, Mobilization for the Human Family believes that the political economy is shaped by deliberate social policy decisions; that conditions at any given time are the result of those decisions; that conditions can be changed by human decisions; and that the will of a nation's and the world's citizens about what the commitments and purposes of the nation and the world should be can be expressed in the political economy through the framework of democratic process provided in our national and transnational polity. Accordingly, we offer below some suggestions for action that may be taken by individual Christians and by our churches and their denominations to correct some correctable flaws of financial globalization.

Actions by individual Christian

Actions by churches and denominations


Want to know more?

Globalization is a vast topic. For a general introduction, see Sarah Anderson and John Cavanagh, Field Guide to the Global Economy (New York: New Press, 2000) and Thomas Friedman, The Lexus and the Olive Tree: Understanding Globalization (New York: Farrar Straus Giroux, 1999). A classic introduction to the financial side of globalization is Susan Strange, Casino Capitalism, (New York: Mnchester University Press, 1986). See also Kavaljit Singh, The Globalisation of Finance: A Citizen's Guide (London: Zed Books, 1999) and John Eatwell and Lance Taylor, Global Finance at Risk: The Case for International Regulation (New York: The New Press, 2000). The best introduction to the Tobin Tax is Mahbub ul Haq et al (eds), The Tobin Tax: Coping with Financial Volatility (New York: Oxford University Press, 1996). For how church people might react, see Pamela Brubaker, Globalization at What Price? (Cleveland: Pilgrim Press, 2001).


Questions For Discussion

  1. How have the linkages and interconnections of international finance impacted your life? On balance, do you regard them as advantages or disadvantages for a healthy Christian life?
  2. The frequency and severity of recent financial crises have fueled calls for a radical redesign of the rules of global finance. If you were the advisor to an international commission asked to design "A New International Financial Architecture," what would you recommend?
  3. Do you favor allowing sovereign nations to declare bankruptcy? What Christian traditions might be invoked to support or deny such an action?
  4. A growing number of civil society institutions oppose giving more money to the IMF. They point out that it is part of the Washington Consensus, the application of whose policies have made societies adjuncts of the market. Yet this paper suggests that the IMF needs more money. As a committed Christian, which view do you favor?
  5. Is it too late to expect justice in a globalizing world? Since much of the direction the global economy has taken is irreversible, how can a balance between market and society be negotiated? How might Christians play a role in those negotiations?

[Dec 03, 2017] Another Democratic party betrayal of their former voters. but what you can expect from the party of Bill Clinton?

Highly recommended!
Dec 03, 2017 | www.nakedcapitalism.com

SpringTexan , December 2, 2017 at 12:08 pm

And I feel like the Democrats get so distracted. They have been talking about sexual harassment and stuff instead of the TAX BILL. It is so damn easy to get them to take their eyes off the ball! and get played again and again. . . and TRAGIC given the consequences . . .

Big River Bandido , December 2, 2017 at 3:10 pm

It's the perfect "distraction". Allows them to engage in virtue-signaling and "fighting for average Americans". It's all phony, they always "lose" in the end getting exactly what they wanted in the first place, while not actually having to cast a vote for it.

Kabuki theater in every respect.

jrs , December 2, 2017 at 3:18 pm

It's all related, less safety net and more inequality means more desperation to take a job, *ANY* job, means more women putting up with sexual harassment (and workplace bullying and horrible and illegal workplace conditions etc.) as the price of a paycheck.

Allegorio , December 2, 2017 at 11:07 pm

Horrible Toomey's re-election was a parallel to the Clinton/Trump fiasco. The Democrats put up a corporate shill, Katie McGinty that no-one trusted.

"Former lobbyist Katie McGinty has spent three decades in politics getting rich off the companies she regulated and subsidized. Now this master of the revolving-door wants Pennsylvania voters to give her another perch in government: U.S. Senator." Washington Examiner.

She was a Clintonite through and through, that everyone, much like $Hillary, could see through.

Expat , December 2, 2017 at 8:01 am

To paraphrase the Beatles, you say you want a revolution but you don't really mean it. You want more of the same because it makes you feel good to keep voting for your Senator or your Congressman. The others are corrupt and evil, but your guys are good. If only the others were like your guys. News flash: they are all your guys.

America is doomed. And so much the better. Despite all America has done for the world, it has also been a brutal despot. America created consumerism, super-sizing and the Kardashians. These are all unforgivable sins. America is probably the most persistently violent country in the world both domestically and internationally. No other country has invaded or occupied so much of the world, unless you count the known world in which case Macedonia wins.

This tax plan is what Americans want because they are pretty ignorant and stupid. They are incapable of understanding basic math so they can't work out the details. They believe that any tax cut is inherently good and all government is bad so that is also all that matters. They honestly think they or their kids will one day be rich so they don't want to hurt rich people. They also believe that millionaires got their money honestly and through hard work because that is what they learned from their parents.

Just send a blank check to Goldman Sachs. Keep a bit to buy a gun which you can use to either shoot up a McDonalds or blow your own brains out.

And some people still ask me why I left and don't want to come back. LOL

tony , December 2, 2017 at 9:30 am

Macedonia of today is not the same are that conquered the world. They stole the name from Greeks.

That being said, the US is ripe for a change. Every policy the current rulers enact seems to make things better. However, I suspect a revolution would kill majority of the population since it would disrupt the all important supply chains, so it does not seem viable.

However, a military takeover could be viable. If they are willing to wipe out the most predatory portions of the ruling class, they could fix the healthcare system, install a high-employment policy and take out the banks and even the military contractors. Which could make them very popular.

False Solace , December 2, 2017 at 5:18 pm

> a military takeover could be viable

Yeah, right. Have you seen our generals? They're just more of the same leeches we have everywhere else in the 0.01%. Have you seen any of the other military dictatorships around the world, like actually existing ones? They're all brilliantly corrupt and total failures when it comes to running any sort of economy. Not to mention the total loss of civil rights. Americans have this idiotic love of their military thanks to decades of effective propaganda and think the rule of pampered generals would somehow be better than the right to vote. Bleh.

Allegorio , December 2, 2017 at 11:20 pm

This is a military dictatorship. The fourth and sixth amendments have been de facto repealed. Trump cared about one thing and one thing only, namely to repeal the estate tax. He is the ultimate con man and this was his biggest con. It is truly amazing how he accomplished this. He has saved his family a billion $$$. He will now turn over governing to the generals and Goldman Sachs. He may even retire. Truly amazing. One has to admire the sheer perversity of it all. When will the American electorate get tired of being conned? The fact is they have nothing but admiration for Trump. We live in a criminal culture, winner take all. America loves its winners.

John Wright , December 2, 2017 at 10:45 am

There is an old 2003 David Brooks column in which he mentions that

"The Democrats couldn't even persuade people to oppose the repeal of the estate tax, which is explicitly for the mega-upper class. Al Gore, who ran a populist campaign, couldn't even win the votes of white males who didn't go to college, whose incomes have stagnated over the past decades and who were the explicit targets of his campaign. Why don't more Americans want to distribute more wealth down to people like themselves?"

Then Brooks goes on to explain

"The most telling polling result from the 2000 election was from a Time magazine survey that asked people if they are in the top 1 percent of earners. Nineteen percent of Americans say they are in the richest 1 percent and a further 20 percent expect to be someday. So right away you have 39 percent of Americans who thought that when Mr. Gore savaged a plan that favored the top 1 percent, he was taking a direct shot at them."

http://www.nytimes.com/2003/01/12/opinion/the-triumph-of-hope-over-self-interest.html

The Republicans have conditioned people to believe government services (except for defense/military) are run poorly and need to be "run like a business" for a profit.

The problem is that not all government services CAN be profitable (homeless care, mental health care for the poor, EPA enforcement, OSHA enforcement). And when attempts are made to privatize some government operations such as incarceration, the result is that the private company tries to maximize profits by pushing for laws to incarcerate ever more people.

The history of the USA as viewed by outsiders, maybe 50 years hence, will be that of a resource consuming nation that spent a vast fortune on military hardware and military adventures when it had little to fear due to geography, a nation that touted an independent press that was anything but, a nation that created a large media/entertainment industry which helped to keep citizens in line, a nation that fostered an overly large (by 2 or 3 times per Paul Whooley) parasitical financial industry that did not perform its prime capital allocation task competently as it veered from bubble to bubble and a nation that managed to spend great sums on medical care without covering all citizens.

But the USA does have a lot of guns and a lot of frustrated people.

Maybe Kevlar vests will be the fashion of the future?

Steve , December 2, 2017 at 2:45 pm

Thanks for the great link on how sadly uninformed average Americans are! I've been looking for it for a while and great comment!

MyLessThanPrimeBeef , December 2, 2017 at 4:08 pm

The provision to do away with the estate tax, if not immediately, in the current versions (House and Senate) is great news for the 1%, and bad for the rest of us.

And if more people are not against that (thanks for quoting the NYTImes article), it's the failure of the rest of the media for not focusing more on it, but wasting time and energy on fashion, sports, entertainment, etc.

Vatch , December 2, 2017 at 7:24 pm

he provision to do away with the estate tax . . . is great news for the 1%

I think it's even a little more extreme than that. The data is a few years old, but it is only the top 0.6% who are affected by estate taxes in the United States. See the data at these web sites:

https://www.irs.gov/statistics/soi-tax-stats-historical-table-17

https://www.irs.gov/statistics/soi-tax-stats-estate-tax-statistics-year-of-death-table-1

Sydney Conner , December 2, 2017 at 5:06 pm

Thanks for the succinct, accurate eloquent description of our nightmare reality.

DHG , December 2, 2017 at 8:13 pm

https://www.rawstory.com/2016/11/the-dark-rigidity-of-fundamentalist-rural-america-a-view-from-the-inside/

JTMcPhee , December 2, 2017 at 10:34 pm

The military adventures were largely in support of what Smedley Butler so accurately called the Great "Racket" of Monroe Doctrine colonialism and rapacious extractive "capitalism" aka "looting."

For those who haven't encountered Maj. Gen. Butler's take on his 33 years of serving the Oligokleptocracy, here's a link: https://www.ratical.org/ratville/CAH/warisaracket.html

A smart and honest fellow, who even declined as a "war hero" to serve as the oligarchs' figurehead in an earlier and clumsier plot to get rid of the trappings and regulation of "democracy:" The Business Plot, https://jtoddring.wordpress.com/2008/01/19/smedley-butler-and-the-business-plot/

It took longer and costed the rich a bit more to buy up all the bits of government, but the way they've done will likely be more compendious and lasting. Barring some "intervening event(s)".

Jonathan Holland Becnel , December 2, 2017 at 11:51 am

Doomed?

Project Much?

While Republicans show their true colors, im out there seeing a resurgence of civil society. And im starting to reach Hard core Tea Party types. Jobs, Manufacturing, Actual Policy.

IOW The Revolution Is Nigh.

2018 will be a Fn watershed.

[Nov 29, 2017] Secular Stagnation: The Time for One-Armed Policy is Over

Highly recommended!
Stagnation that is gripping several of the world's largest economies should be viewed as a secular, long term phenomenon, not something transient. It is connected with the neoliberalism entering a new phase of its development, when New Deal was already devoured, 90% or so of population standard of living slides and thus there are no direct mechanisms to increase consumer demand.
Notable quotes:
"... Stagnation is gripping several of the world's largest economies and many view this as secular, not transient. ..."
"... Above all, ideology must conceal, denigrate, diminish, slander and distract from the ONE effective strategy that workers collectively have. This is the spectre that haunts all economics. ..."
"... For many of those who consume the bottom layers of it, what they are ingesting is a barbarous Pink Slime cultural sludge that makes them stupid, frivolous, dependent, impulsive and emotionally erratic – something like perpetual 15 year olds. ..."
"... In the center, we have the neoliberals, who are convinced that our world will spontaneously and beneficially organize itself if only we turn the macroeconomic tumblers and stumble on the right interest rate, or inflation rate, or some other version of the One Parameter to Rule Them All mindset. They are also too devoted to the religion of demand-goosing: the idea that everything will be all right as long as we generate enough "demand" – as though it makes no difference whether people are demanding high fructose cotton candy or the collected works of Shakespeare. ..."
"... Profits and income share at the top soared; wages and income share at the bottom fell, and employment was maintained by speculative bubbles and increasing debt until the last bubble burst, and the system collapsed. ..."
"... How is an increasing deficit and QE supposed to solve our problems in this situation other than by propping up a failed system that makes the rich richer and the poor poorer by increasing government debt? ..."
"... It seems quite clear to me that it is going to take a very long time for the system to adjust to this situation in the absence of a fall in the value of the dollar and the concentration of income. That kind of adjustment means reallocating resources in a very dramatic way so as to accommodate an economy in which resources are allocated to serve the demands of the wealthy few in the absence of the ability of those at the bottom to expand their debt relative to income. ..."
"... It was the fall in the concentration of income that led to mass markets (large numbers of people with purchasing power out of income) that made investment profitable after WW II in the absence of speculative bubbles, and it was the increase in the concentration of income that led to the bubble economy we have today that has led us into the Great Recession. ..."
"... I think neoliberalism naturally leads to secular stagnation. This is the way any economic system that is based on increasing of inequality should behave: after inequality reached certain critical threshold, the economy faces extended period of low growth reflecting persistently weak private demand. ..."
"... The focus on monetary policy and the failure to enact fiscal policy options is structural defect of neoliberalism ideology and can't be changed unless neoliberal ideology is abandoned. Which probably will not happen unless another huge crisis hit the USA. 2008 crisis, while discrediting neoliberalism, was clearly not enough for the abandonment of this ideology. Like in most cults adherents became more fanatical believers after the prophecy did not materialized. ..."
"... In a way behaviour of the USA elite in this respect is as irrational as behavior of the USSR elite. My impression is that they will stick to neoliberal ideology to the bitter end. But at the same time they are much more reckless. Recent attempt to solve economic problems by unleashing a new wars and relying of war time mobilization so far did not work. Including the last move is this game: Russia did not bite the offer for military confrontation that the USA clearly made by instilling coup d'état in Ukraine. ..."
Jun 05, 2015 | economistsview.typepad.com
Willem Buiter, Ebrahim Rahbari, Joe Seydl at Vox EU:

Secular stagnation: The time for one-armed policy is over: Stagnation is gripping several of the world's largest economies and many view this as secular, not transient.

This column argues that many economies need both demand-side stimulus and supply-side reform to close the output gap and restore potential-output growth. A combined monetary-fiscal stimulus – i.e. helicopter money – is needed to close the output gap, and this should be accompanied with extensive debt restructuring, policies to halt rising inequality, and additional public infrastructure investment.

Selected Skeptical Comments

Sandwichman -> anne:

Workers, collectively, have a single, incontrovertible lever for effecting change -- withholding their labor power. Nothing -- not even imprisonment or death -- can prevent workers from withholding their labor power! Kill me and see how much work you can get out of me.

This is the elementary fact that the elites don't want workers to know. "It is futile!" "It is a fallacy!" "You will only hurt yourselves!"

Once one comprehends the strategic importance of making the withholding of labor power taboo, everything else falls into place. Economics actually makes sense as a persuasive discourse to dissuade from the withholding of labor power.

Above all, ideology must conceal, denigrate, diminish, slander and distract from the ONE effective strategy that workers collectively have. This is the spectre that haunts all economics.

Dan Kervick:

Good stuff by Buiter et al, but here are some suggested additions to the litany of supply side woes:

1. Ineffective economic organization, both inside corporate firms and outside of them.

a. Many corporations are now quite dysfunctional as engines of long-term value creation – but not dysfunctional as vehicles of short-term value extraction for their absurdly over-incentivized key stakeholders.

b. The developed world societies are facing an extreme failure of strategic economic leadership, at both the national and global level, and at both the formal level of government and the informal level of visionary public intellectuals and industrial "captains". There is no coherent consensus on which way lies the direction of progress. Since nobody is setting the agenda for what the future looks like, risk trumps confidence everywhere and nobody knows what to invest in.

2. Dyspeptic dystopianism. The intellectual culture of our times is polluted by obsessive, nail-biting negativity and demoralizing storylines preaching hopelessness: the robots are going to destroy all the jobs; the Big One is going to bury everything, the real "neutral" interest rate is preposterously negative, etc. etc. etc. With so much doom and gloom in the air, there is no reason to invest wealth, rather than consume it. Robert Schiller touched on this at a recent talk at LSE.

3. The popular culture of 2015 America is – as in so many other areas - a tale of two cultural cities. For many of those who consume the bottom layers of it, what they are ingesting is a barbarous Pink Slime cultural sludge that makes them stupid, frivolous, dependent, impulsive and emotionally erratic – something like perpetual 15 year olds. People like this can be duped by the most shallow demagoguery and consumerist manipulation, and can't organize themselves to pursue their enlightened self-interest. Enlightened artists and cultural custodians need to step up, organize and find a way to seize the American mind back from the clutches of consumer capitalist garbage-mongers and philistine society-wreckers.

4. Laissez faire backwardness. We are struggling under left-right-center conspiracy of Pollyanna freedom fools, who despite their constant kvetching at one another all share in common the view that progress is self-organizing.

On the left we have the Chomsky and Graeber-style "libertarian socialists" who are convinced we could have a functioning and prosperous society in which seemingly every action is voluntary and spontaneous, nobody is ever compelled to do anything that their delicate little hearts don't throb to do, and who seemingly have no idea of what it takes even to run a carrot farm.

On the right, we have the clueless paranoid libertarians who think the whole world should revolve around their adolescent desire not to be "tread on", and seem to have no idea of what it takes – and what it took historically - to build a livable civilization.

In the center, we have the neoliberals, who are convinced that our world will spontaneously and beneficially organize itself if only we turn the macroeconomic tumblers and stumble on the right interest rate, or inflation rate, or some other version of the One Parameter to Rule Them All mindset. They are also too devoted to the religion of demand-goosing: the idea that everything will be all right as long as we generate enough "demand" – as though it makes no difference whether people are demanding high fructose cotton candy or the collected works of Shakespeare.

5. I'm an optimist! This is all going to change. We have nearly reached Peak Idiocracy. We're on the verge of a new age of social organization and planning and a return to mixed economy common sense and public-spirited mobilization and adulthood. This will happen because ultimately all of those teenagers will stop denying reality, and stop struggling to escape the realization that a more organized and thoughtfully planned way of life is the only thing that will work in our small, resource strapped, crowded 21st century planet.

George H. Blackford:

Since the 80s, US companies have been buying abroad to sell at home as foreign countries used our trade deficits to depress their exchange rates. Profits and income share at the top soared; wages and income share at the bottom fell, and employment was maintained by speculative bubbles and increasing debt until the last bubble burst, and the system collapsed.

There seem to be no more bubbles in the offing. The dollar is overvalued. Debt relative to income is unprecedented, and the concentration of income has created stagnation for lack of investment opportunities.

How is an increasing deficit and QE supposed to solve our problems in this situation other than by propping up a failed system that makes the rich richer and the poor poorer by increasing government debt? Does anyone really believe this sort of thing can go on forever in the absence of a fall in the value of the dollar and in the concentration of income? Who's going to be left holding the bag when this system collapses again?

It seems quite clear to me that it is going to take a very long time for the system to adjust to this situation in the absence of a fall in the value of the dollar and the concentration of income. That kind of adjustment means reallocating resources in a very dramatic way so as to accommodate an economy in which resources are allocated to serve the demands of the wealthy few in the absence of the ability of those at the bottom to expand their debt relative to income.

We didn't smoothly transition from an agricultural economy to one based on manufacturing. That transition was plagued with a great deal of civil unrest, speculative bubbles, booms and busts that eventually led to a collapse of the system and the Great Depression.

And we didn't smoothly transition out of the Great Depression. That was ended by WW II and dramatic changes in our economic system, the most dramatic changes being the role and size of government and the fall in the concentration of income for thirty-five years after 1940.

It was the fall in the concentration of income that led to mass markets (large numbers of people with purchasing power out of income) that made investment profitable after WW II in the absence of speculative bubbles, and it was the increase in the concentration of income that led to the bubble economy we have today that has led us into the Great Recession.

What this means to me is that we are not going to get out of the mess we are in today in the absence of some kind of catastrophe comparable to WW II if we, and the rest of the world, do not come to grips with the fundamental problem we face in this modern age, namely, the trade deficit and the concentration of income.

See:

likbez:

I think neoliberalism naturally leads to secular stagnation. This is the way any economic system that is based on increasing of inequality should behave: after inequality reached certain critical threshold, the economy faces extended period of low growth reflecting persistently weak private demand.

An economic cycle enters recession when total spending falls below expected by producers and they realize that production level is too high relative to demand. What we have under neoliberalism is kind of Marx constant crisis of overproduction.

The focus on monetary policy and the failure to enact fiscal policy options is structural defect of neoliberalism ideology and can't be changed unless neoliberal ideology is abandoned. Which probably will not happen unless another huge crisis hit the USA. 2008 crisis, while discrediting neoliberalism, was clearly not enough for the abandonment of this ideology. Like in most cults adherents became more fanatical believers after the prophecy did not materialized.

The USA elite tried partially alleviate this problem by resorting to military Keynesianism as a supplementary strategy. But while military budget was raised to unprecedented levels, it can't reverse the tendency. Persistent high output gap is now a feature of the US economy, not a transitory state.

"Top everything" does not help iether (top cheap oil is especially nasty factor). Recent pretty clever chess gambit to artificially drop oil price playing Russian card, and sacrificing US shall industry like a pawn (remember that Saudi Arabia is the USA client state) was a very interesting move, but still expectation are now so low that cheap gas stimulus did not work as expected in the USA. It would be interesting to see how quickly oil will return to early 2014 price level because of that. That will be the sign that gambit is abandoned.

In a way behaviour of the USA elite in this respect is as irrational as behavior of the USSR elite. My impression is that they will stick to neoliberal ideology to the bitter end. But at the same time they are much more reckless. Recent attempt to solve economic problems by unleashing a new wars and relying of war time mobilization so far did not work. Including the last move is this game: Russia did not bite the offer for military confrontation that the USA clearly made by instilling coup d'état in Ukraine.

Now it look like there is a second attempt to play "madman" card after Nixon's administration Vietnam attempt to obtain concession from the USSR by threatening to unleash the nuclear war.

[Nov 29, 2017] Economics is a Belief System - and We are Ruled by Fundamentalists

Highly recommended!
Notable quotes:
"... During the two decades following the neoliberal economists' take-over of Western governments in the 1980s, many felt that the almost mystical terms of economics - such as derivatives, hedging, leverage, contangos, etc - were beyond the understanding of most ordinary people. ..."
"... They pursued them as a matter of faith in the market and its processes, despite the apparent warning signs of their imminent failure. ..."
"... as within many custom or belief systems, what economics enshrines is a social order. One where a dominant minority are able to take a small quantity of wealth from each member of the majority in order to maintain their higher status. ..."
"... idea of economics as an exploitative mechanism is echoed in the cover picture of the book, Bosch's The Conjurer ..."
"... Within its exposition of economics as a quasi-religious theory, Brian Davey's book helps us to understand why economic theory is driving us toward a global system failure - and why politics and economics are incapable of responding to the pressing ecological crisis which the pursuit of economic growth has spawned. ..."
Nov 09, 2015 | resilience.org

by Paul Mobbs, originally published by The Ecologist |

Brian Davey's new book, Credo: Economic Beliefs in a World in Crisis, is an analysis of economic theory as if it were a system of religious belief.

It's a timely book. The simplistic, perhaps 'supernatural' assumptions which underpin key parts of economic theory demand far more attention. It's a debate we've failed to have as a society.

... ... ...

During the two decades following the neoliberal economists' take-over of Western governments in the 1980s, many felt that the almost mystical terms of economics - such as derivatives, hedging, leverage, contangos, etc - were beyond the understanding of most ordinary people.

And without understanding those terms, irrespective of our gut feeling that there was something wrong, how could we challenge the political lobby those theories had put into power? In the end it took the financial crash of 2007/8 to demonstrate that those in charge of this system didn't understand the complexity and risk of those practices either.

They pursued them as a matter of faith in the market and its processes, despite the apparent warning signs of their imminent failure. Those outside 'orthodox' economics could already see where the economy was heading in the longer-term.

Question is, did economists learn anything from that failure? Or, through austerity, have they once again committed us to their dogmatic belief system, unchanged by that experience?

... ... ...

However, through simple hubris or optimism bias, the political class has been convinced that 'fracking' is a solution to our economic woes - even though there is a paucity of verifiable evidence to demonstrate those claims, and it has already lost billions of investors money.

Economics is a reflection of power

Ultimately though, as within many custom or belief systems, what economics enshrines is a social order. One where a dominant minority are able to take a small quantity of wealth from each member of the majority in order to maintain their higher status.

This idea of economics as an exploitative mechanism is echoed in the cover picture of the book, Bosch's The Conjurer - where a magician distracts the public with a sleight of hand trick so that they can be more easily robbed by his associate.

Again, in a world where we're hitting the limits to human material growth, political models of well-being based upon wealth and consumption are damaging to human society in the long-term. The evidence that we're heading for a longer-term failure is there, as was the case with the warning signs before the 2007 crash. The problem is that those in positions of power do not wish to see it.

... ... ...

Within its exposition of economics as a quasi-religious theory, Brian Davey's book helps us to understand why economic theory is driving us toward a global system failure - and why politics and economics are incapable of responding to the pressing ecological crisis which the pursuit of economic growth has spawned.

Contrary to the economic hubris of many world leaders, set alongside the reality of ecological limits humanity is not 'too big to fail'.

[Nov 29, 2017] Michael Hudson: The Wall Street Economy is Draining the Real Economy

Highly recommended!
Notable quotes:
"... An interview by Gordon T. Long of the Financial Repression Authority. Originally published at his website ..."
"... One of the most important distinctions that investors have to understand is the difference between secular and cyclical trends Let us begin with definitions from the Encarta® World English Dictionary: ..."
"... Secular – occurring only once in the course of an age or century; taking place over an extremely or indefinitely long period of time ..."
"... Cycle – a sequence of events that is repeated again and again, especially a causal sequence; a period of time between repetitions of an event or phenomenon that occurs regularly ..."
"... Secular stagnation is when the predators of finance have eaten too many sheeple. ..."
"... Real estate rents in this latest asset bubble, whether commercial or residential, appear to have been going up in many markets even if the increases are slowing. That rent inflation will likely turn into rent deflation, but that doesn't appear to have happened yet consistently. ..."
"... Barter has always existed and always will. Debt money expands and contracts the middle class, acting as a feedback signal, which never works over the long term, because the so encapsulated system can only implode, when natural resource liquidation cannot be accelerated. The whole point is to eliminate the initial requirement for capital, work. Debt fails because both sides of the same coin assume that labor can be replaced. The machines driven by dc technology are not replacing labor; neither the elites nor the middle class can fix the machines, which is why they keep accelerating debt, to replace one failed technology only to be followed by the next, netting extortion by whoever currently controls the debt machine, which the majority is always fighting over, expending more energy to avoid work, like the objective is to avoid sweating, unless you are dumb enough to run on asphalt with Nike gear. ..."
"... . . . The whole argument for privatization, for instance, is the opposite of what was taught in American business schools in the 19th century. The first professor of economics at the Wharton School of Business, which was the first business school, was Simon Patten. He said that public infrastructure is a fourth factor of production. But its role isn't to make a profit . It's to lower the cost of public services and basic inputs to lower the cost of living and lower the cost of doing business to make the economy more competitive. But privatization adds interest payments, dividends, managerial payments, stock buybacks, and merges and acquisitions . Obviously these financialized charges are factored into the price system and raise the cost of living and doing business . ..."
www.nakedcapitalism.com
April 29, 2016 by Yves Smith An interview by Gordon T. Long of the Financial Repression Authority. Originally published at his website

GORDON LONG: Thank you for joining us. I'm Gordon Long with the Financial Repression Authority. It's my pleasure to have with me today Dr. Michael Hudson Professor Hudson's very well known in terms of the FIRE economy to-I think, to a lot of our listeners, or at least he's recognized by many as fostering that concept. A well known author, he has published many, many books. Welcome, Professor Hudson.

MICHAEL HUDSON: Yes.

LONG: Let's just jump into the subject. I mentioned the FIRE economy cause I know that I have always heard it coming from yourself-or, indirectly, not directly, from yourself. Could you explain to our listeners what's meant by that terminology?

HUDSON: Well it's more than just people getting fired. FIRE is an acronym for Finance, Insurance and Real Estate. Basically that sector is about assets, not production and consumption. And most people think of the economy as being producers making goods and services and paying labor to produce them – and then, labour is going to buy these goods and services. But this production and consumption economy is surrounded by the asset economy: the web of Finance, Insurance, and Real Estate of who owns assets, and who owes the debts, and to whom.

LONG: How would you differentiate it (or would you) with what's often referred to as financialization, or the financialization of our economy? Are they one and the same?

HUDSON: Pretty much. The Finance, Insurance, and Real Estate sector is dominated by finance. 70 to 80% of bank loans in North America and Europe are mortgage loans against real estate. So instead of a landowner class owning property clean and clear, as they did in the 19 th century, now you have a democratization of real estate. 2/3 or more of the population owns their own home. But the only way to buy a home, or commercial real estate, is on credit. So the loan-to-value ratio goes up steadily. Banks lend more and more money to the real estate sector. A home or piece of real estate, or a stock or bond, is worth whatever banks are willing to lend against it

As banks loosen their credit terms, as they lower their interest rates, take lower down payments, and lower amortization rates – by making interest-only loans – they are going to lend more and more against property. So real estate is bid up on credit. All this rise in price is debt leverage. So a financialized economy is a debt-leveraged economy, whether it's real estate or insurance, or buying an education, or just living. And debt leveraging means that a larger proportion of assets are represented by debt. So debt equity ratios rise. But financialization also means that more and more of people's income and corporate and government tax revenue is paid to creditors. There's a flow of revenue from the production-and-consumption economy to the financial sector.

LONG: I don't know if you know Richard Duncan. He was with the IMF, etc, and lives in Thailand. He argues right now that capitalism is no longer functioning, and really what he refers to what we have now is "creditism." Because in capitalism we have savings that are reinvested into productive assets that create productivity, which leads to a higher level of living. We're not doing that. We have no savings and investments. Credit is high in the financial sector, but it's not being applied to productive assets. Is he valid in that thinking?

HUDSON: Not as in your statement. It's confused.

LONG: Okay.

HUDSON: There's an enormous amount of savings. Gross savings. The savings we have that are mounting up are just about as large as they've ever been – about, 18-19% of the US economy. They're counterpart is debt. Most savings are lent out to borrowers se debt. Basically, you have savers at the top of the pyramid, the 1% lending out their savings to the 99%. The overall net savings may be zero, and that's what your stupid person from the IMF meant. But gross savings are much higher. Now, the person, Mr. Duncan, obviously-I don't know what to say when I hear this nonsense. Every economy is a credit economy.

Let's start in Ancient Mesopotamia. The group that I organized out of Harvard has done a 20-study of the origins of economic structuring in the Bronze Age, even the Neolithic, and the Bronze Age economy – 3200 BC going back to about 1200 BC. Suppose you're a Babylonian in the time of Hammurabi, about 1750 BC, and you're a cultivator. How do you buy things during the year? Well, if you go to the bar, to an ale woman, what she'd do is write down the debt that you owe. It was to be paid on the threshing floor. The debts were basically paid basically once a year when the income was there, on the threshing floor when the harvest was in. If the palace or the temples would advance animals or inputs or other public services, this would be as a debt. It was all paid in grain, which was monetized for paying debts to the palace, temples and other creditors.

The IMF has this Austrian theory that pretends that money began as barter and that capitalism basically operates on barter. This always is a disinformation campaign. Nobody believed this in times past, and it is a very modern theory that basically is used to say, "Oh, debt is bad." What they really mean is that public debt is bad. The government shouldn't create money, the government shouldn't run budget deficits but should leave the economy to rely on the banks. So the banks should run and indebt the economy.

You're dealing with a public relations mythology that's used as a means of deception for most people. You can usually ignore just about everything the IMF says. If you understand money you're not going to be hired by the IMF. The precondition for being hired by the IMF is not to understand finance. If you do understand finance, you're fired and blacklisted. That's why they impose austerity programs that they call "stabilization programs" that actually are destabilization programs almost wherever they're imposed.

LONG: Is this a lack of understanding and adherence to the wrong philosophy, or how did we get into this trap?

HUDSON: We have an actively erroneous view, not just a lack of understanding. This is not by accident. When you have an error repeated year after year after year, decade after decade after decade, it's not really insanity doing the same thing thinking it'll be different. It's sanity. It's doing the same thing thinking the result will be the same again and again and again. The result will indeed be austerity programs, making budget deficits even worse, driving governments further into debt, further into reliance on the IMF. So then the IMF turns them to the knuckle breakers of the World Bank and says, "Oh, now you have to pay your debts by privatization". It's the success. The successful error of monetarism is to force countries to have such self-defeating policies that they end up having to privatize their natural resources, their public domain, their public enterprises, their communications and transportation, like you're seeing in Greece's selloffs. So when you find an error that is repeated, it's deliberate. It's not insane. It's part of the program, not a bug.

LONG: Where does this lead us? What's the roadmap ahead of us here?

HUDSON: A thousand years ago, if you were a marauding gang and you wanted to take over a country's land and its natural resources and public sector, you'd have to invade it with military troops. Now you use finance to take over countries. So it leads us into a realm where everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that's all rejected in favor of a rentier class evolving into an oligarchy. Basically, financiers – the 1% – are going to pry away the public domain from the government. Pry away and privatize the public enterprises, land, natural resources, so that bondholders and privatizers get all of the revenue for themselves. It's all sucked up to the top of the pyramid, impoverishing the 99%.

LONG: Well I think most people, without understanding economics, would instinctively tell you they think that's what's happening right now, in some way.

HUDSON: Right. As long as you can avoid studying economics you know what's happened. Once you take an economics course you step into brainwashing. It's an Orwellian world.

LONG: I think you said it perfectly well there. Exactly. It gets you locked into the wrong way of thinking as opposed to just basic common sense. Your book is Killing the Host . What was the essence of its message? Was it describing exactly what we're talking about here?

HUDSON: Finance has taken over the industrial economy, so that instead of finance becoming what it was expected to be in the 19 th century, instead of the banks evolving from usurious organizations that leant to governments, mainly to wage war, finance was going to be industrialized. They were going to mobilize savings and recycle it to finance the means of production, starting with heavy industry. This was actually happening in Germany in the late 19 th century. You had the big banks working with government and industry in a triangular process. But that's not what's happening now. After WW1 and especially after WW2, finance reverted to its pre-industrial form. Instead of allying themselves with industry, as banks were expected to do, banks allied themselves with real estate and monopolies, realizing that they can make more money off real estate.

The bank spokesman David Ricardo argued against the landed interest in 1817, against land rent. Now the banks are all in favor of supporting land rent, knowing that today, when people buy and sell property, they need credit and pay interest for it. The banks are going to get all the rent. So you have the banks merge with real estate against industry, against the economy as a whole. The result is that they're part of the overhead process, not part of the production process.

LONG: There's a sense that there's a crisis lying ahead in the next year, two years, or three years. The mainstream economy's so disconnected from Wall Street economy. What's your view on that?

HUDSON: It's not disconnected at all. The Wall Street economy has taken over the economy and is draining it. Under what economics students are taught as Say's Law, the economy's workers are supposed to use their income to buy what they produce. That's why Henry Ford paid them $5 a day, so that they could afford to buy the automobiles they were producing.

LONG: Exactly.

HUDSON: But Wall Street is interjecting itself into the economy, so that instead of the circular flow between producers and consumers, you have more and more of the flow diverted to pay interest, insurance and rent. In other words, to pay the FIRE sector. It all ends up with the financial sector, most of which is owned by the 1%. So, their way of formulating it is to distract attention from today's debt quandary by saying it's just a cycle, or it's "secular stagnation." That removes the element of agency – active politicking by the financial interests and Wall Street lobbyists to obtain all the growth of income and wealth for themselves. That's what happened in America and Canada since the late 1970s.

LONG: What does an investor do today, or somebody who's looking for retirement, trying to save for the future, and they see some of these things occurring. What should they be thinking about? Or how should they be protecting themselves?

HUDSON: What all the billionaires and the heavy investors do is simply try to preserve their wealth. They're not trying to make money, they're not trying to speculate. If you're an investor, you're not going to outsmart Wall Street billionaires, because the markets are basically fixed. It's the George Soros principle. If you have so much money, billions of dollars, you can break the Bank of England. You don't follow the market, you don't anticipate it, you actually make the market and push it up, like the Plunge Protection Team is doing with the stock market these days. You have to be able to control the prices. Insiders make money, but small investors are not going to make money.

Since you're in Canada, I remember the beginning of the 1960s. I used to look at the Treasury Bulletin and Federal Reserve Bulletin figures on foreign investment in the US stock market. We all used to laugh at Canada especially. The Canadians don't buy stocks until they're up to the very top, and then they lose all the money by holding these stocks on the downturn. Finally, when the market's all the way at the bottom, Canadians decide to begin selling because they finally can see a trend. So they miss the upswing until they decide to buy at the top once again. It's hilarious to look at how Canada has performed in the US bond market, and they did the same in the silver market. I remember when silver was going up to $50. The Canadians said, "Yes, we can see the trend now!" and they began to buy it. They lost their shirts. So, basically, if you're a Canadian investor, move.

LONG: So the Canadian investors are a better contrarian indicator than the front page cover, you're saying.

HUDSON: I'd think so. Once they get in, you know the bubble's over.

LONG: Absolutely on that one. What are you currently writing? What is your current focus now?

HUDSON: Well, I just finished a book. You mentioned Killing the Host . My next book will be out in about three months: J is for Junk Economics . It began as a dictionary of terms, so I can provide people with a vocabulary. As we got in the argument at the beginning of your program today, our argument is about the vocabulary we're using and the words you're using. The vocabulary taught to students today in economics – and used by the mass media and by government spokesmen – is basically a set of euphemisms. If you look at the television reports on the market, they say that any loss in the stock market isn't a loss, it's "profit taking". And when they talk about money. the stock market rises – "Oh that's good news." But it's awful news for the short sellers it wipes out. Almost all the words we get are kind of euphemisms to conceal the actual dynamics that are happening. For instance, "secular stagnation" means it's all a cycle. Even the idea of "business cycles": Nobody in the 19 th century used the word "business cycle". They spoke about "crashes". They knew that things go up slowly and then they plunge very quickly. It was a crash. It's not the sine curve that you have in Josef Schumpeter's book on Business Cycles . It's a ratchet effect: slow up, quick down. A cycle is something that is automatic, and if it's a cycle and you have leading and lagging indicators as the National Bureau of Economic Research has. Then you'd think "Oh, okay, everything that goes up will come down, and everything that goes down will come up, just wait your turn." And that means governments should be passive.

Well, that is the opposite of everything that's said in classical economics and the Progressive Era, when they realized that economies don't recover by themselves. You need a-the government to step in, you need something "exogenous," as economist say. You need something from outside the system to revive it. The covert idea of this business cycle analysis is to leave out the role of government. If you look at neoliberal and Austrian theory, there's no role for government spending, and no role of public investment. The whole argument for privatization, for instance, is the opposite of what was taught in American business schools in the 19 th century. The first professor of economics at the Wharton School of Business, which was the first business school, was Simon Patten. He said that public infrastructure is a fourth factor of production. But its role isn't to make a profit. It's to lower the cost of public services and basic inputs to lower the cost of living and lower the cost of doing business to make the economy more competitive. But privatization adds interest payments, dividends, managerial payments, stock buybacks, and merges and acquisitions. Obviously these financialized charges are factored into the price system and raise the cost of living and doing business.

LONG: Well, Michael, we're-I thank you for the time, and we're up against our hard line. I know we didn't have as much time as we always like, so we have to break. Any overall comments you'd like to leave with our listeners who might be interested this school of economics?

HUDSON: Regarding the downturn we're in, we're going into a debt deflation. The key of understanding the economy is to look at debt. The economy has to spend more and more money on debt service. The reason the economy is not recovering isn't simply because this is a normal cycle. And It's not because labour is paid too much. It's because people are diverting more and more of their income to paying their debts, so they can't afford to buy goods. Markets are shrinking – and if markets are shrinking, then real estate rents are shrinking, profits are shrinking. Instead of using their earnings to reinvest and hire more labour to increase production, companies are using their earnings for stock buybacks and dividend payouts to raise the share price so that the managers can take their revenue in the form of bonuses and stocks and live in the short run. They're leaving their companies as bankrupt shells, which is pretty much what hedge funds do when they take over companies.

So the financialization of companies is the reverse of everything Adam Smith, John Stuart Mill, and everyone you think of as a classical economist was saying. Banks wrap themselves in a cloak of classical economics by dropping history of economic thought from the curriculum, which is pretty much what's happened. And Canada-I know since you're from Canada, my experience there was that the banks have a huge lobbying power over government. In 1979, I wrote for the IRPP Institute there on Canada In the New Monetary Order . At that time the provinces of Canada were borrowing money from Switzerland and Germany because they could borrow it at much lower interest rates. I said that this was going to be a disaster, and one that was completely unnecessary. If Canadian provinces borrow in Francs or any other foreign currency, this money goes into the central bank, which then creates Canadian dollars to spend. Why not have the central bank simply create these dollars without having Swiss francs, without having German marks? It's unnecessary to have an intermediary. But the more thuggish banks, like the Bank of Nova Scotia, said, "Oh, that way's the road to serfdom." It's not. Following the banks and the Austrian School of the banks' philosophy, that's the road to serfdom. That's the road to debt serfdom. It should not be taken now. It lets universities and the government be run by neoliberals. They're a travesty of what real economics is all about.

LONG: Michael, thank you very much. I learned a lot, appreciate it; certainly appreciate how important it is for us to use the right words on the right subject when we're talking about economics. Absolutely agree with you. Talk to you again?

HUDSON: Going to be here.

LONG: Thank you for the time.

Donald , April 29, 2016 at 7:33 am

Interesting, but after insulting Duncan, Hudson says the banks stopped partnering with industry and went into real estate, which sounded like what Duncan said.

I mention this because for a non- expert like myself it is sometimes difficult to tell when an expert is disagreeing with someone for good reasons or just going off half- cocked. I followed what Hudson said about the evils of the IMF, but didn't see where Duncan had defended any of that, unless it was implicit in saying that capitalism used to function better.

Alejandro , April 29, 2016 at 9:06 am

Michael Hudson from the interview;

"As we got in the argument at the beginning of your program today, our argument is about the vocabulary we're using and the words you're using. The vocabulary taught to students today in economics – and used by the mass media and by government spokesmen – is basically a set of euphemisms ."Almost all the words we get are kind of euphemisms to conceal the actual dynamics that are happening."

May consider it's about recognizing and deciphering the "doublespeak", "newspeak", "fedspeak", "greenspeak" etc, whether willing or unwitting using words for understanding and clarifying as opposed to misleading and confusing dialectic as opposed to sophistry.

Michael Hudson , April 29, 2016 at 9:54 am

What I objected to was the characterization of today's situation as "financialization." I explained that financialization is the FIRST stage - when finance WORKS. We are now in the BREAKDOWN of financialization - toward the "barter" stage.
Treating "finance" as an end stage rather than as a beginning stage overlooks the dynamics of breakdown. It is debt deflation. First profits fall, and as that occurs, rents on commercial property decline. This is already widespread here in New York, from Manhattan (8th St. near NYU is half empty) to Queens (Austin St. in Forest Hills.).

Leonard C.Tekaat , April 29, 2016 at 12:19 pm

I wrote an article you might be interested in reading. It outlines a tax policy which would help prevent what you are discussing in your article. The abuse of credit to receive rents and long term capital gains.

The title is "Congress Financialized Our Economy And Created Financial Crisis & More Poverty" Go to http://www.taxpolicyusa.wordpress.com

SomeCallMeTim , April 29, 2016 at 5:23 pm

Thank you for another eye-opening exposition. My political economy education was negative (counting a year of Monetarism and Austrian Economics around 1980), so I appreciate your interviews as correctives.

From your interview answer to the question about what we, the 99+% should do,I gathered only that we should not try to beat the market. Anything more than that?

Skippy , April 29, 2016 at 8:33 pm

From my understanding, post Plaza banking lost most of its traditional market to the shadow sector, as a result, expanded off into C/RE and increasingly to Financialization of everything sundry.

Disheveled Marsupial interesting to note Mr. Hudson's statement about barter, risk factors – ?????

Eduardo Quince , April 29, 2016 at 7:41 am

"secular stagnation" means it's all a cycle

Actually not.

One of the most important distinctions that investors have to understand is the difference between secular and cyclical trends Let us begin with definitions from the Encarta® World English Dictionary:

Secular – occurring only once in the course of an age or century; taking place over an extremely or indefinitely long period of time

Cycle – a sequence of events that is repeated again and again, especially a causal sequence; a period of time between repetitions of an event or phenomenon that occurs regularly

Excerpted from: http://contrarianinvestorsjournal.com/?p=405#

cnchal , April 29, 2016 at 8:30 am

Secular stagnation from http://lexicon.ft.com/Term?term=secular-stagnation

Secular stagnation is a condition of negligible or no economic growth in a market-based economy . When per capita income stays at relatively high levels, the percentage of savings is likely to start exceeding the percentage of longer-term investments in, for example, infrastructure and education, that are necessary to sustain future economic growth. The absence of such investments (and consequently of the economic growth) leads to declining levels of per capita income (and consequently of per capita savings). With the reduced percentage savings rate converging with the reduced investment rate, economic growth comes to a standstill – ie, it stagnates. In a free economy, consumers anticipating secular stagnation, might transfer their savings to more attractive-looking foreign countries. This would lead to a devaluation of their domestic currency, which would potentially boost their exports, assuming that the country did have goods or services that could be exported.

Persistent low growth, especially in Europe, has been attributed by some to secular stagnation initiated by stronger European economies, such as Germany, in the past few years.

Words. What they mean depends on who's talking.

Secular stagnation is when the predators of finance have eaten too many sheeple.

MikeNY , April 29, 2016 at 9:57 am

Secular stagnation is when the predators of finance have eaten too many sheeple.

This.

digi_owl , April 29, 2016 at 7:44 am

Sad to see Hudson parroting the line about banks lending out savings

Alejandro , April 29, 2016 at 9:18 am

That's not what he said. Re-read or re-listen, please.

Enquiring Mind , April 29, 2016 at 9:02 am

Hudson says

Markets are shrinking – and if markets are shrinking, then real estate rents are shrinking, profits are shrinking.

Real estate rents in this latest asset bubble, whether commercial or residential, appear to have been going up in many markets even if the increases are slowing. That rent inflation will likely turn into rent deflation, but that doesn't appear to have happened yet consistently.

Perhaps he meant to say that markets are going to shrink as the debt deflation becomes more evident?

tegnost , April 29, 2016 at 9:52 am

I think what it means is it's getting harder to squeeze the blood out of the turnip

Synoia , April 29, 2016 at 10:06 am

What Turnip? Its become a stone, fossilized..

rfdawn , April 29, 2016 at 10:52 am

Yes, I think we are into turnip country now. Figure 1 in this prior article looks clear enough – even if you don't like the analysis that went with it. Wealth inequality still climbs but income inequality has plateaued since Clinton I. Whatever the reasons for that, the 1% should be concerned – where is the ROI?

ke , April 29, 2016 at 10:22 am

Barter has always existed and always will. Debt money expands and contracts the middle class, acting as a feedback signal, which never works over the long term, because the so encapsulated system can only implode, when natural resource liquidation cannot be accelerated. The whole point is to eliminate the initial requirement for capital, work. Debt fails because both sides of the same coin assume that labor can be replaced. The machines driven by dc technology are not replacing labor; neither the elites nor the middle class can fix the machines, which is why they keep accelerating debt, to replace one failed technology only to be followed by the next, netting extortion by whoever currently controls the debt machine, which the majority is always fighting over, expending more energy to avoid work, like the objective is to avoid sweating, unless you are dumb enough to run on asphalt with Nike gear.

ke , April 29, 2016 at 12:49 pm

Labor has no problem with multiwhatever presidents, geneticists, psychologists, or economists, trying to hunt down and replace labor, in or out of turn, but none are going to be any more successful than the others. Trump is being employed to bypass the middle class and cut a deal. There is no deal. Labor is always going to pay males to work and their wives to raise children. Obviously, the majority will vote for a competing economy, and it is welcome to do so, but if debt works so well, why is the majority voting to kidnap our kids with public healthcare and education policies.

meeps , April 29, 2016 at 5:36 pm

I'm not sure I heard an answer to the question of what people, who might be trying to save for the future or plan for retirement, can do? Is the point that there isn't anything? Because I'm definitely between rocks and hard places

Robert Coutinho , April 29, 2016 at 9:29 pm

Yeah, he basically said there is no good savings plan. Big-money interests have rigged the rules and are now manipulating the market (this used to be the definition of what was NOT allowed). Thus, they use computer algorithms to squeeze small amounts out of the market millions of times. This means that the "investments" are nothing of the sort. You don't "invest" in something for milliseconds. He said that the 1% are mostly just trying to hold on to what they have. Very few trust the rigged markets.

ke , April 29, 2016 at 7:22 pm

If Big G can print to infinity, print, but then why book it as debt to future generations?

The future is already becoming the present, because the millenials aren't paying.

Russell , April 29, 2016 at 10:00 pm

Low rent & cheap energy are key to the arts & innovations. My model has to work for airports, starts at the fuel farm as the CIA & MI6 Front Page Avjet did. Well before that was Air America. I wonder if now American Airlines itself is a Front.

All of America is a Front far as I can about tell. Hadn't heard that Manhattan rents were coming down. Come in from out of town, how you going to know? Not supposed to I guess.

I got that textbook and I liked that guy John Commons. He says capitalism is great, but it always leads to Socialism because of unbridled greed.

The frenzy to find another stable cash currency showing in Bit Coin and the discussion of Future Tax Credits while the Euro is controlled by the rent takers demands change on both sides of the Atlantic.

We got shot dead protesting the war, and civil rights backlash is the gift that keeps giving to the Southerners looking up every day in every courthouse town, County seat is all about spreading fear and desperation.

How to change it all without violence is going to be really tricky.

cnchal , April 30, 2016 at 4:36 am

Many thanks for the shout out to Canada.

. . . So, basically, if you're a Canadian investor, move.

LONG: So the Canadian investors are a better contrarian indicator than the front page cover, you're saying.

HUDSON: I'd think so. Once they get in, you know the bubble's over.

When one reads the financial press in Canada, every dollar extracted by the lords of finance is a glorious taking by brilliant people at the top of the financial food chain from the stupid little people at the bottom, but when it counts, there was silence, in cooperation with Canada's one percent.

The story starts about five years ago, with smart meters. Everyone knows what they are, a method by which electrical power use can be priced depending on the time of day, and day of the week.

To make this tasty, Ontario's local utilities at first kept the price the same for all the time, and then after all the meters were installed, came the changes, phased in over time. Prices were increased substantially, but there was an out. If you changed your living arrangements to live like a nocturnal rodent and washed your clothes in the middle of the night, had supper later in the evening or waited for weekend power rates you could still get low power rates, from the three tier price structure.

The local utilities bought the power from the government of Ontario power generation utility, renamed to Hydro One, and this is where Michael Hudson's talk becomes relevant.

The successful error of monetarism is to force countries to have such self-defeating policies that they end up having to privatize their natural resources, their public domain, their public enterprises, their communications and transportation, like you're seeing in Greece's selloffs. So when you find an error that is repeated, it's deliberate. It's not insane. It's part of the program, not a bug .

LONG: Where does this lead us? What's the roadmap ahead of us here?

HUDSON: A thousand years ago, if you were a marauding gang and you wanted to take over a country's land and its natural resources and public sector, you'd have to invade it with military troops. Now you use finance to take over countries. So it leads us into a realm where everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that's all rejected in favor of a rentier class evolving into an oligarchy. Basically, financiers – the 1% – are going to pry away the public domain from the government. Pry away and privatize the public enterprises, land, natural resources, so that bondholders and privatizers get all of the revenue for themselves. It's all sucked up to the top of the pyramid, impoverishing the 99% .

Eighteen months ago, there was an election in Ontario, and the press was on radio silence during the whole time leading up to the election about the plans to "privatize" Hydro One. I cannot recall one instance of any mention that the new Premier, Kathleen Wynne was planning on selling Hydro One to "investors".

Where did this come from? Did the little people rise up and say to the politicians "you should privatize Hydro One" for whatever reason? No. This push came from the 1% and Hydro One was sold so fast it made my head spin, and is now trading on the Toronto Stock exchange.

At first I though the premier was an economic ignoramus, because Hydro One was generating income for the province and there was no other power supplier, so one couldn't even fire them if they raised their prices too high.

One of the arguments put forward by the 1% to privatize Hydro One was a classic divide and conquer strategy. They argued that too many people at Hydro One were making too much money, and by privatizing, the employees wages would be beat down, and the resultant savings would be passed on to customers.

Back to Michael Hudson

. . . The whole argument for privatization, for instance, is the opposite of what was taught in American business schools in the 19th century. The first professor of economics at the Wharton School of Business, which was the first business school, was Simon Patten. He said that public infrastructure is a fourth factor of production. But its role isn't to make a profit . It's to lower the cost of public services and basic inputs to lower the cost of living and lower the cost of doing business to make the economy more competitive. But privatization adds interest payments, dividends, managerial payments, stock buybacks, and merges and acquisitions . Obviously these financialized charges are factored into the price system and raise the cost of living and doing business .

Power prices have increased yet again in Ontario since privatization, and Canada's 1% are "making a killing" on it. There has been another change as well. Instead of a three tier price structure, there are now two, really expensive and super expensive. There is no longer a price break to living like a nocturnal rodent. The 1% took that for themselves.

Procopius , April 30, 2016 at 8:10 am

I am so tired of seeing that old lie about Old Henry and the $5 a day. I realize it was just a tossed off reference to something most people believe for the purpose of describing a discarded policy, but the fact is very, very few of Old Henry's employees ever got that pay. See, there were strings attached.

Old Henry hired a lot of spies, too. He sent them around to the neighborhoods where his workers lived (it was convenient having them all in Detroit). If the neighbors saw your kid bringing a bucket of beer home from the corner tavern for the family, you didn't get the $5.

If your lawn wasn't mowed to their satisfaction, you didn't get the $5. If you were thought not to bathe as often as they liked, you didn't get the $5. If you didn't go to a church on Sundays, you didn't get the $5. If you were an immigrant and not taking English classes at night school, you didn't get the $5. There were quite a lot of strings attached. The whole story was a public relations stunt, and Old Henry never intended to live up to it; he hated his workers.

[Nov 29, 2017] Positive Feedback Loops, Financial Instability, The Blind Spot Of Policymakers

Highly recommended!
Notable quotes:
"... Primates with about exponentially increasing physical technologies continue to deliberately ignore and misunderstand themselves as much as is humanly possible, due to the history of warfare making and maintaining the currently existing political economy, whose maliciousness is manifesting through runaway vicious feedback loops, whereby the excessively successful control of Civilization through applications of the methods of organized crime are resulting in that Civilization manifesting runaway criminal insanities. Indeed, in that context, where there is almost nothing but the central core of triumphant organized crime, namely bankster dominated governments, surrounded by various layers of controlled "opposition" groups, which stay within the same bullshit-based frames of reference regarding those phenomena, the overall situation is that society becoming about exponentially sicker and insane. ..."
"... In general, "Asset Managers" are stuck inside taking for granted that everything they do has become almost totally based on being able to enforce frauds, despite some of them noticing the increasingly blatant ways that there are accumulating apparent anomalies in those systems, as vicious feedback loops drive those systems to become about exponentially more fraudulent, and therefore increasingly unbalanced. To come to better terms with those apparent anomalies requires going through series of intellectual scientific revolutions and profound paradigm shifts, which overall become ways that human beings better understand themselves as manifestations of general energy systems. However, since doing so requires recognizing how and why governments are necessarily the biggest forms of organized crime, dominated by the best organized gangsters, the banksters, it continues to be politically impossible to accomplish that. ..."
"... At each open, algos compute the increase in their AUM from the prior day and their margin reach. They then begin buying. All algos do this. Buying whenever cash/margin exists; selling whenever profit targets exist. On pullbacks, the algos withdraw, volume evaporates, minimizing the drop. The algos collectively increase equity prices without consideration of the value of the money involved. Not valuations. No fundamentals. Just ones and zeroes. Just a program. ..."
Nov 22, 2017 | www.zerohedge.com

Macro-prudential regulations follow financial crises, rarely do they precede one. Even when evidence is abundant of systemic risks building up, as is today, regulators and policymakers have a marked tendency to turn an institutional blind eye, hoping for imbalances to fizzle out on their own – at least beyond the duration of their mandates. It does not work differently in economics than it does for politics, where short-termism drives the agenda, oftentimes at the expenses of either the next government, the broader population or the next generation.

It does not work differently in the business world either, where corporate actions are selected based on the immediate gratification of shareholders, which means pleasing them at the next round of earnings, often at the expenses of long-term planning and at times exposing the company itself to disruption threats from up-and-comers.

Long-term vision does not pay; it barely shows up in the incentive schemes laid out for most professions . Economics is no exception. Orthodoxy and stillness preserve the status quo, and the advantages hard earned by the few who rose from the ranks of the establishment beforehand.

Yet, when it comes to Central Banking, and more in general policymaking, financial stability should top the priority list. It honorably shows up in the utility function, together with price stability and employment, but is not pursued nearly as actively as them. Central planning and interventionism is no anathema when it comes to target the decimals of unemployment or consumer prices, yet is residual when it comes to master systemic risks, relegated to the camp of ex-post macro-prudential regulation. This is all the more surprising as we know all too well how badly a deep unsettlement of financial markets can reverberate across the real economy, possibly leading into recessions, unemployment, un-anchoring of inflation expectations and durable disruption to consumer patterns. There is no shortage of reminders for that in the history books, looking at the fallout of dee dives in markets in 1929, 2000 and 2007, amongst others.

Intriguingly, the other way round is accepted and even theorized. Manipulating bond and stock prices, directly or indirectly, is mainstream policy theory today. From Ben Bernanke's 'portfolio balance channel theory', to the relentless pursuit of the 'wealth effect' via financial repression under Janet Yellen and Haruhiko Kuroda, to Mario Draghi tackling the fragmentation of credit markets across the EU via direct asset purchases, the practice has become commonplace. To some, like us, the 'wealth effect' may be proving to be more of an 'inequality effect' than much, leading to populism and constantly threatening regime change, but that is beyond the scope of this note today.

What we want to focus on instead is the direct impact that monetary interventionism like Quantitative Easing ('QE') and Negative or Zero Interest Rate Policies ('NIRP' or 'ZIRP') have on the structure of the market itself, how they help create a one-sided investment community, oftentimes long-only, fully invested when not levered up, relying on record-highs for bonds and stocks to perpetuate themselves endlessly - despite a striking disconnect from fundamentals, life-dependent on the lowest levels of volatility ever seen in history . The market structure morphed under the eyes of policymakers over the last few years, to become a pressure cooker at risk of blowing-up, with a small but steadily growing probability as times goes by and the bubble inflates. The positive feedback loops between monetary flooding and the private investment community are culpable for transforming an ever present market risk into a systemic risk, and for masking as peaceful what is instead an unstable equilibrium and market fragility.

Positive Feedback Loops create divergence from general equilibrium, and Systemic Risks

Positive feedback loops , in finance like in biology, chemistry, cybernetics, breed system instability, as they orchestrate a further divergence from equilibrium . An unstable equilibrium is defined as one where a small disturbance is sufficient to trigger a large adjustment.

QE and NIRP have two predominant effects on markets: (i) relentless up-trend in stocks and bonds (the 'Trend Factor') , dominated by the buy-the-dip mentality, which encapsulates the 'moral hazard' of investors knowing Central Banks are prompt to come to their rescue (otherwise known as 'Bernanke/Yellen/Kuroda/Draghi put'), and (ii) the relentless down-trend in volatility the 'Volatility Factor').

Two Factors Explain All: Trend and Volatility

The most fashionable investment strategies these days are directly impacted by either one or both of these drivers. Such strategies make the bulk of the overall market, after leverage or turnover is taken into account : we will refer to them in the following as 'passive' or 'quasi-passive' . The trend impacts the long-only community, crowning it as a sure winner, making the case for low- cost passive investing. The low volatility permeates everything else, making the case for full- investment and leverage.

The vast majority of investors these days are not independent from the QE environment they operate within : ETFs and index funds, Risk Parity funds and Target Volatility vehicles, Low Volatility / Short Volatility vehicles, trend-chasing algos, Machine Learning-inspired funds, behavioral Alternative Risk Premia funds. They are the poster children of the QE world. We estimate combined assets under management of in excess of $8trn across the spectrum. They form a broad category of 'passive' or 'quasi-passive' investors, as are being mechanically driven by two main factors: trend and volatility.

Source: Fasanara Presentations | Market Fragility - How to Position for Twin Bubbles Bust, 16 th October 2017. The slide is described in details in this video recording.

Extraordinary monetary policies have feedback loops with the asset management industry as a whole, reinforcing the effects on markets of such policies in a vicious – or virtuous - cycle . QE and NIRP help a large number of investment strategies to flourish, validating their success and supporting their asset gathering in the process, and are in return helped in boosting bond and stock markets by their flows joining the already monumental public flows.

Private flows so reach singularity with public flows, and the whole market economy morphs into a one big common bet on ever-rising prices, in shallow volatility. Here is the story of how $15trn of money printing by major Central Banks in the last ten years, of which $3.7trn in 2017 alone, is joined by total assets of $8trn managed into buying the same safe and risk assets across, with leverage, indiscriminately.

How Market Risk became Systemic Risk

Let's give a cursory look at the main players involved (a recent presentation we did is recorded here) . As markets trend higher, no matter what happens (ever against the shocked disbeliefs of Brexit, Trump, an Italian failed referendum and nuclear threats in North Korea), investors understand the outperformance that comes from pricing risks out of their portfolios entirely and going long-only and fully-invested. Whoever under-weighs positions in an attempt to be prudent ends up underperforming its benchmarks and is then penalized with redemptions. Passive investors who are long-only and fully invested are the winners, as they are designed to be bold and insensitive to risks. As Central Banks policies reduce the level of interest rates to zero or whereabouts, fees become ever more relevant, making the case for passive investing most compelling. The rise of ETF and passive index funds is then inevitable.

According to JP Morgan, in the last 10 years, $2trn left active managers in equities and $2trn entered passive managers (pag.39 here) . We may be excused for thinking they are the same $ 2trn of underlying investors progressively pricing risk provisions out of books, de facto , while chasing outperformance and lower fees.

To be sure, ETFs are a great financial innovation, helping reducing costs in an expensive industry and giving entry to markets previously un-accessible to most investors. Yet, what matters here is their impact on systemic risks, via positive feedback loops. In circular reference, beyond Central Banks flows, markets are helped rise by such classes of valuations-insensitive passive investors, which are then rewarded with further inflows, with which they can then buy more. The more expensive valuations get, the more they disconnect from fundamentals, the more divergence from equilibrium occurs, the larger fat-tail risks become.

In ever-rising markets, 'buy-and-hold' strategies may only possibly be outsmarted by 'buy-the-dip' strategies. Whatever the outcome of risk events, be ready to buy the dip quickly and blindly. As more investors design themselves up to do so, the dips are shallower over time, leading to an S&P500 that never lost 3% in 2017, an historical milestone. Machine learning is another beautiful market innovation, but what is there to learn from the time series of the last several years, if not that buy- the-dip works, irrespective of what caused the dip. Big Data is yet another great concept, shaping the future of us all. Yet, most data ever generated in humankind dates back three years only, in and by itself a striking limitation. The quality of the deduction cannot exceed the quality of the time series upon which the data science was applied. If the time series is untrustworthy, as is heavily influenced by monumental public flows ($300bn per months), what trust can we put on any model output originating from it? What pattern recognition can we really be hopeful of getting, in the first place? May some of it just be a commercial disguise for going long, selling volatility and leveraging up in various shapes or forms? What is hype and what is real? A short and compromised data series makes it hard, if not possible, to really know. Once public flows abate and price discovery is let free again, then and only then will we be in a position to know the difference.

Low volatility does what trending markets alone cannot. A state of low volatility presents the appearance of stuporous, innocuous, narcotized markets, thus enticing new swathes of unfitting investors in, mostly retail-type 'weak hands'. Weak hands are investors who are brought to like investments by certain characteristics which are uncommon to the specific investment itself, such as featuring a low volatility. It is in this form that we see bond-like investors looking at the stock market for yield pick-up purposes, magnetized by levels of realized volatility similar to what fixed income used to provide with during the Great Moderation. It is in this form that Tech companies out of the US have started filling the coffers of not just Growth ETF, where they should rightfully reside, but also Momentum ETF, and even, incredibly, Low-Volatility ETF.

Low volatility is also a dominant input for Risk Parity funds and Target Volatility vehicles . The lower the volatility, the higher the leverage allowed in such players, mechanically. All of which are long-only players, joining public flows, again helping the market rise to record levels in the process, in circular reference. Rewarded by new inflows, the buying spree gathers momentum, in a virtuous circle. Valuations are no real input in the process, volatility is what matters the most. Volatility is not risk, except for them it is.

It goes further than that. It is not only the level of volatility that count, but its direction too . As volatility implodes, relentlessly, into historical lows never seen before in history, a plethora of investment strategies is launched to capitalize on just that, directly: Short Volatility vehicles . They are the best performing strategy of the last decade, by and large. The problem here is that, due to construction, as volatility got to single-digit territory, relatively small spikes are now enough to trigger wipe-out events on several of these instruments. Our analysis shows that if equity volatility doubles up from current levels (while still being half of what it was as recently as in August 2015), certain Short Vol ETFs may stand to lose up to 75% or more. Moreover, short positions on long-vol ETFs can lose up to 250% of capital. For some, 'termination events' are built into contracts for sudden losses of this magnitude, meaning that the notes would be prematurely withdrawn. It is one thing to expect a spike in volatility to cause losses, it is quite another to know that a minor move is all it takes to trigger a default event.

On such spikes in volatility, Morgan Stanley Quant Derivatives Strategy desk warns further that market makers may be forced to rebalance their exposure non-linearly on a spike in volatility. A drop in the S&P 500 of 5% in one day may trigger approximately $ 400mn of Vega notional of rebalancing (pag.48 here) . We estimate that half a trillion dollars of additional selling on S&P stocks may occur following a correction of between 5% and 10%. That is a lot of selling, pre-set in markets, waiting to strike. Unless you expect the market to not have another 5% sell-off, ever again.

For more details, we describe the role of these different players in a recent video presentation and in our June Investment Outlook and May Investment Outlook.

It's All One Big Position

What do ETFs, Risk Parity and Target Vol vehicles, Low Vol / Short Vol vehicles, trend-chasing algos, Machine Learning, behavioral Alternative Risk Premia, factor investing have in common? Except, of course, being the 'winners take all' of QE-driven markets. They all share one or more of the following risk factors: long-only, fully invested when not leveraged-up, short volatility, short correlation, short gamma Thanks to QE and NIRP, the whole market is becoming one single big position.

The 'Trend Factor' and the 'Volatility Factor' are over-whelming, making it inevitable for a high- beta, long-bias, short-vol proxy to disseminate across. Almost inescapably so, given the time series the asset management industry has to deal with, and derive its signals from.

Several classes of investors may move to sell in lock-steps if and when markets turn. The boost to asset prices and the zero-volatility environment created the conditions for systemic risks in the form of an over-compensation to the downside. Record-low volatility breeds market fragility, it precedes system instability.

Flows Matter, Both Ways!

We will know soon if the fragility of markets is that bad. The undoing of loose monetary policies (NIRP, ZIRP) will create a liquidity withdrawal of over $1 trillion in 2018 alone (pag.61-62 here) . The reaction of the passive and quasi-passive communities will determine the speed of the adjustment in the pricing for both safe and risk assets, and how quickly risk provisions will re- enter portfolios. Such liquidity withdrawal will represent the first real crash-test for markets in 10 years.

As public spending on Wall Street abates, the risk is evident of seeing the whole market turning with it. The shocks of Trump and Brexit did not manage to derail markets for long, as public flows were overwhelming. Flows is what mattered, above all elusive, over-fitting economic narratives justifying price action at the margin. Flows may matter again now as they fade

Systemic Risk is Not Just About Banks: Look at Funds

The role of trending markets is known when it comes to systemic risks: a not sufficient but necessary condition. Most trends do not necessarily lead to systemic risks, but hardly systemic risks ever build up without a prolonged period of uptrend beforehand. Prolonged uptrends in any asset class hold the potential to instill the perception that such asset class will grow forever, irrespective of the fundamentals, and may thus lead to excessive risk taking, excess leverage, the formation of a bubble and, ultimately, systemic risks. The mind goes to the asset class of real estate, its undeterred uptrend into 2006/2007, its perception of perpetuity ("we have never had a decline in house prices on a nationwide basis'' Ben Bernanke) , the credit bubble built on banks hazardous activities on subprime mortgages as a result, and the systemic risks which emanated, with damages spanning well beyond the borders of real estate.

The role of volatility is also well-researched, especially low volatility. Hayman Minsky, in his " Financial Instability Hypothesis '' in 1977, analyses the behavioral changes induced by a reduction of volatility, postulating that economic agents observing a low risk are induced to increase risk taking, which may in turn lead to a crisis: "stability is destabilizing". In a recent study, Jon Danielsson, Director of the Systemic Risk Centre at the LSE, finds unambiguous support for the 'low volatility channel', insofar as prolonged periods of low volatility have a strong predictive power over the incidence of a banking crisis, owing to excess lending and excess leverage . The economic impact is the highest if the economy stays in the low volatility environment for five years : a 1% decrease in volatility below its trend translates in a 1.01% increase in the probability of a crisis. He also finds that, counter-intuitively, high volatility has little predictive power : very interesting, when the whole finance world at large is based on retrospective VAR metrics, and equivocates high volatility for high risk.

Both a persistent trend and prolonged low-volatility can lead banks to take excessive risks. But what about their impact on the asset management industry?

Thinking at the hard economic impact of the Great Depression (1929-1932) and the Great Recession (2007-2009), and the eminent role played by banks in both, it comes as little surprise that the banking sector captures all the attention. However, what remains to be looked into, and perhaps more worrying in today's environment, is the role of prolonged periods of uptrend and low-vol on the asset management industry

In 2014, the Financial Stability Board (FSB), an international body that makes recommendations to G20 nations on financial risks, published a consultation paper asking whether fund managers might need to be designated as " global systemically important financial institution " or G-SIFI, a step that would involve greater regulation and oversight. It did not result in much, as the industry lobbied in protest, emphasizing the difference between the levered balance sheet of a bank and the business of funds.

The reason for asking the question is evident: (i) sheer size , as the AM industry ballooned in the last few years, to now represent over [15trnXX] for just the top 5 US players!, (ii) funds have partially substituted banks in certain market-making activities, as banks dialed back their participation in response to tighter regulation and (iii) , funds can indeed do damage: think of LTCM in 1998, the fatal bailout of two Real Estate funds by Bear Stearns in 2007, the money market funds 'breaking the buck' in 2008 amongst others.

But it is not just sheer size that matters for asset managers. What may worry more is the positive feedback loops discussed above and the resulting concentration of bets in one single global pot , life-dependent on infinite momentum/trend and ever-falling volatility. Positive feedback loops are the link for the sheer size of the AM industry to become systemically relevant. Today more than ever, they morph market risks in systemic risks.

Volatility will not forever be low, the trend will not forever go: how bad a damage when it stops? As macro prudential policy is not the art of "whether or not it will happen" but of "what happens if", it is hard not to see this as a blind spot for policymakers nowadays.

ebworthen , Nov 22, 2017 10:55 AM

In other words, it's a Ponzi scheme.

Let it Go , Nov 22, 2017 11:49 AM

I have never seen it this bad, the numbers are all moutof wack!

It seems many of us are drawn to a good illusion and this proves true for most people in their daily life as well. In some ways, it could be said that our culture has become obsessed with avoiding what is real.

We must remember that politicians and those in power tend to throw people under the bus rather than rise up and take responsibility for the problems they create. The article below looks at how we have grown to believe things are fine.

http://The Allure Of Ilusions-Five Favorite Financial Myths.html

Batman11 , Nov 22, 2017 12:47 PM

The real estate boom features all the unknowns in today's thinking, which is why they are global.

This simple equation is unknown.

Disposable income = wages – (taxes + the cost of living)

You can immediately see how high housing costs have to be covered by wages; business pays the high housing costs for expensive housing adding to costs and reducing profits. The real estate boom raises costs to business and makes your nation uncompetitive in a globalised world.

The unproductive lending involved that leads to financial crises.

The UK:

https://cdn.opendemocracy.net/neweconomics/wp-content/uploads/sites/5/2017/04/Screen-Shot-2017-04-21-at-13.53.09.png

The economy gets loaded up with unproductive lending as future spending power has been taken to inflate the value of the nation's housing stock. Housing is more expensive and the future has been impoverished.

US:

https://cdn.opendemocracy.net/neweconomics/wp-content/uploads/sites/5/2017/04/Screen-Shot-2017-04-21-at-13.52.41.png

Unproductive lending is not good for the economy and led directly to 1929 and 2008.

Neoliberalism's underlying economics, neoclassical economics, doesn't look at private debt and so no one really knew what they were doing.

The real estate boom feels good for a reason that is not known to today's thinkers.

Monetary theory has been regressing since 1856, when someone worked out how the system really worked.

Credit creation theory -> fractional reserve theory -> financial intermediation theory

"A lost century in economics: Three theories of banking and the conclusive evidence" Richard A. Werner

http://www.sciencedirect.com/science/article/pii/S1057521915001477

" banks make their profits by taking in deposits and lending the funds out at a higher rate of interest" Paul Krugman, 2015. He wouldn't know, that's financial intermediation theory.

Bank lending creates money, which pours into the economy fuelling the boom; it is this money creation that makes the housing boom feel so good in the general economy. It feels like there is lots of money about because there is.

The housing bust feels so bad because the opposite takes place, and money gets sucked out of the economy as the repayments overtake new lending. It feels like there isn't much money about because there isn't.

They were known unknowns, the people that knew weren't the policymakers to whom these things were unknown.

The global economy told policymakers there was something seriously wrong in 2008, but they ignored it, I didn't.

Batman11 -> Batman11 , Nov 22, 2017 12:51 PM

The most fundamental of all fundamentals was unknown.

The relationship between debt and money.

the money supply = all the debt in the system, public and private

http://www.whichwayhome.com/skin/frontend/default/wwgcomcatalogarticles/images/articles/whichwayhomes/US-money-supply.jpg

M3 is going exponential before 2008, a credit bubble is underway (debt = money)

The FED and everyone else doesn't realise.

Batman11 -> Batman11 , Nov 22, 2017 1:25 PM

This is why austerity doesn't work in a balance sheet recession, e.g. Greece.

The IMF predicted Greek GDP would have recovered by 2015 with austerity.

By 2015 it was down 27% and still falling.

Oh dear.

Richard Koo had to explain the problem to the IMF.

https://www.youtube.com/watch?v=8YTyJzmiHGk

They had pushed Greece into debt deflation by cutting Government spending with austerity.

It wasn't just the IMF, the Troika all went along with this fatally flawed policy, this means the ECB and EU Commission also didn't know what they were doing.

Richard Koo had watched as Western "experts" told Japan to cut Government spending and seen the fall in GDP as the economy went downhill. The only way to get things going again was to increase Government spending and he has had decades to work out what was going on.

The Troika's bad economics has been wreaking havoc across the Club-Med.

Mark Blythe looks at the data.

https://www.youtube.com/watch?v=B6vV8_uQmxs&feature=em-subs_digest-vrecs

It comes out of knowledge that is missing from the mainstream.

Batman11 -> Batman11 , Nov 22, 2017 1:31 PM

Balancing the budget ............ be careful you might head into debt deflation.

If the private sector aren't borrowing the Government needs to borrow to keep the money supply stable.

You don't want to end up like Greece do you?

Radical Marijuana , Nov 22, 2017 3:15 PM

Another superficially correct analysis of "Positive Feedback Loops create divergence from general equilibrium, and Systemic Risks." The vicious feedback loops which have the most leverage are all aspects of the funding of the political processes, which have resulted in runaway systems of legalized lies, backed by legalized violence, the most important of which are the ways that the powers of public governments enforce frauds by private banks, the big corporations that have grown up around those big banks.

About exponentially advancing technologies have enabled enforced frauds to become about exponentially more fraudulent. The underlying drivers were the ways that the combined money/murder systems developed, whose social successfulness became more and more based on maximizing maliciousness. From a superficial point of view, those results may appear to be due to incompetence, however, from a deeper point of view those results make sense as due to the excessively successful applications of the methods of organized crime through the political processes, due to the vicious feedback loops of the funding of those political processes.

The only connections between human laws and natural laws are the abilities to back up lies with violence. Natural selection pressures have driven Globalized Neolithic Civilization to develop the most dishonest artificial selection systems possible, while the continuation of the various vicious feedback loops that made and maintained those developments are driving about exponentially increasing dishonesty. Although the laws of nature are not going to stop working, and the laws of nature underpinned the runaway development of excessively successful vicious feedback loops of organized crime, on larger and larger scales, to result in Globalized Neolithic Civilization, the overall results are that Civilization is becoming about exponentially more psychotic. Since Civilization necessarily operates according to the principles and methods of organized crime, while those who became the biggest and best organized forms of organized crime, namely, banker dominated governments, also necessarily became most dishonest about themselves, and yet, their bullshit social stories continue to dominate the public schools, and mainstream mass media, as well as the publicly significant controlled "opposition" groups.

Political economy is INSIDE human ecology, and therefore, the greatest systematic risks are to be found in the tragic trajectory of human ecologies which are almost totally buried under maximized maliciousness. "Public debates" about the human death control systems are based on previously having being as deceitful and treacherous as possible regarding those topics. The most extreme forms of that manifest as the ways that money is measurement backed by murder. Of course, that the debt controls are backed by the death controls are issues which are generally not publicly admitted nor addressed.

Global Neolithic Civilization has become almost totally based on being able to enforce frauds, in ways which have become about exponentially more fraudulent, as the vicious feedback loops which enable that to happen automatically reinforce themselves to get worse, faster. The almost total triumph of enforced frauds has resulted in social "realities" which are becoming exponentially more insane, since the social successfulness of enforced frauds requires the most people do not understand that, because they have been conditioned to not want to understand that. Rather, almost everyone takes for granted deliberately ignoring and misunderstanding the laws of nature in the most absurdly backward ways possible, because of the long history of successful warfare based on deceits and treacheries becoming the more recent history of successful finance based on enforcing frauds, despite that tragic trajectory of vicious feedback loops resulting in about exponentially increasing overall fraudulence.

Various superficially correct analyses, such as the one in the article above, are typical of the content on Zero Hedge , which does not come remotely close to recognizing the degree to which the dominate natural languages and philosophy of science have undergone series of compromises with the biggest bullies' bullshit-based world views, which became the banksters' bullshit about economics. Although it is theoretically possible for human beings to better understand themselves and Civilization, it continues to become more and more politically impossible to do so, due to the ever increasing vicious feedback loops of enforced frauds achieving symbolic robberies ...

Although the laws of nature are never going to stop working, it is barely possible to exaggerate the degree to which Civilization overall is becoming about exponentially more psychotic, due to the social "realities" based on successfully enforcing frauds becoming more and more out of touch with the surrounding, relatively objective, physical and biological facts. The various superficially correct analyses presented on Zero Hedge regarding that kind of runaway collective psychosis, driven by the vicious feedback loops of the funding of all aspects of the funding of the political processes, tend to always grossly understate the seriousness of that situation, especially including the crucial issues of how to operate the human murder systems after the development of weapons of mass destruction, which is unavoidable due to the rapid development of globalized electronic monkey money frauds, backed by the threat of force from apes with atomic weapons.

Those who believe that possessing precious metals, or cryptocurrencies, etc., are viable solutions to those problems are not remotely close to being in the right order of magnitude. Although there is no doubt that exponentially more "money" is being made out of nothing as debts, in order to "pay" for strip-mining the natural resources of a still relatively fresh planet, and so, there is no doubt that the exponentially decreasing value of that "money" is driving the accumulation of apparent anomalies, such as outlined in the article above, the actually crucial issues continue to be the ways that money is measurement backed by murder, as the most abstract ways that private property are claims backed by coercions. Stop-gap individual responses to the runaway fraudulence, such as faith in possessing precious metals or cryptocurrencies, make some relative sense in terms of the public "money" supplies becoming exponentially more fraudulent, but otherwise dismally fail to be in the ball park of the significant issues driven by prodigious progress in physical sciences, WITHOUT any genuine progress in political sciences, other than to continue to be able to better enforce bigger frauds, through the elaborations of oxymoronic scientific dictatorships, which adamantly refuse to become more genuinely scientific about themselves.

Primates with about exponentially increasing physical technologies continue to deliberately ignore and misunderstand themselves as much as is humanly possible, due to the history of warfare making and maintaining the currently existing political economy, whose maliciousness is manifesting through runaway vicious feedback loops, whereby the excessively successful control of Civilization through applications of the methods of organized crime are resulting in that Civilization manifesting runaway criminal insanities. Indeed, in that context, where there is almost nothing but the central core of triumphant organized crime, namely bankster dominated governments, surrounded by various layers of controlled "opposition" groups, which stay within the same bullshit-based frames of reference regarding those phenomena, the overall situation is that society becoming about exponentially sicker and insane.

That Civilization has been driven by natural selection pressures to manifest runaway psychoses is not going to stop the laws of nature from continuing to work through that Civilization. However, that will nevertheless drive the currently dominate artificial selection systems to become increasingly psychotic, in ways whereby their vicious feedback loops are less and less able to be sanely responded to ... Although some human beings have better and better understood some general energy systems, e.g., electric and atomic energy, etc., since warfare was the oldest and best developed forms of social science and engineering, whose successfulness was based on being able to maximize maliciousness, and since those then enabled successful finance to become based on runaway enforced frauds, human beings living within Globalized Neolithic Civilization are so hidebound by adapting to living inside those vicious feedback loops based on being able to enforce frauds that those human beings are mostly unwilling and unable to better understand themselves as also manifestations of general energy systems.

As the report, embedded in the article, begins by quoting Leonardo da Vinci:

"Learn how to see. Realize that everything connects to everything else."

In general, "Asset Managers" are stuck inside taking for granted that everything they do has become almost totally based on being able to enforce frauds, despite some of them noticing the increasingly blatant ways that there are accumulating apparent anomalies in those systems, as vicious feedback loops drive those systems to become about exponentially more fraudulent, and therefore increasingly unbalanced. To come to better terms with those apparent anomalies requires going through series of intellectual scientific revolutions and profound paradigm shifts, which overall become ways that human beings better understand themselves as manifestations of general energy systems. However, since doing so requires recognizing how and why governments are necessarily the biggest forms of organized crime, dominated by the best organized gangsters, the banksters, it continues to be politically impossible to accomplish that.

Muppet , Nov 22, 2017 7:03 PM

At each open, algos compute the increase in their AUM from the prior day and their margin reach. They then begin buying. All algos do this. Buying whenever cash/margin exists; selling whenever profit targets exist. On pullbacks, the algos withdraw, volume evaporates, minimizing the drop. The algos collectively increase equity prices without consideration of the value of the money involved. Not valuations. No fundamentals. Just ones and zeroes. Just a program.

[Nov 29, 2017] Attack on Sanders Economic Plan By Former Chairs of the Council of Economic Advisors Irresponsible

Highly recommended!
Notable quotes:
"... Well, again, what he was doing was running a program of a certain scale, of a large scale, through a set of standard macroeconomic assumptions. And that, again, is a reasonable exercise. If you ask me what my personal view is, I've written a whole book called The End of Normal in which I lay out reasons for my chronic pessimism about the capacity of the world economy to absorb a great deal more rapid economic growth. ..."
"... But that's not in the standard models, and it would not be appropriate to layer that on to a forecast of this kind. What Friedman was criticized for was not for putting his thumb on the scale, but for failing to put his thumb on the scale. In fact, that was the reasonable thing to do ..."
"... So what we had here was a, what was essentially an academic exercise that produced a result that was highly favorable to the Sanders position, and showed that if you did an ambitious program you would get a strong growth response. It's reasonable, certainly, for the first three or four years that that would transpire in practice. And what happened was that people who didn't like that result politically jumped on it in a way which was, frankly speaking, professionally irresponsible, in my view. It was designed to convey the impression, which it succeeded in doing for a brief while through the broad media, that this was not a reputable exercise, and that there were responsible people on one side of the debate, and irresponsible people on the other. ..."
"... The true nature of Capitalism has obviously been forgotten over time. Today we think it brings prosperity to all, but that was certainly never the intention. Today's raw Capitalism is showing its true nature with ever rising inequality. Capitalism is essentially the same as every other social system since the dawn of civilization. The lower and middle classes do all the work and the upper, leisure Class, live in the lap of luxury. The lower class does the manual work; the middle class does the administrative and managerial work and the upper, leisure, class live a life of luxury and leisure. ..."
"... The nature of the Leisure Class, to which the benefits of every system accrue, was studied over 100 years ago. "The Theory of the Leisure Class: An Economic Study of Institutions", by Thorstein Veblen. (The Wikipedia entry gives a good insight. It was written a long time ago but much of it is as true today as it was then. This is the source of the term conspicuous consumption.) We still have our leisure class in the UK, the Aristocracy, and they have been doing very little for centuries. The UK's aristocracy has seen social systems come and go, but they all provide a life of luxury and leisure and with someone else doing all the work. ..."
"... Feudalism – exploit the masses through land ownership. Capitalism – exploit the masses through wealth (Capital) ..."
"... Now the competition has gone, the US middle class is being wiped out. The US is going third world, with just rich and poor and no middle class. Raw Capitalism can only return Capitalism to its true state where there is little demand and those at the bottom live a life of bare subsistence. ..."
"... "The Marxian capitalist has infinite shrewdness and cunning on everything except matters pertaining to his own ultimate survival. On these, he is not subject to education. He continues wilfully and reliably down the path to his own destruction" ..."
"... "We came, we saw, he died" rinse and repeat for 5,000 years. ..."
"... By the 1920s, mass production techniques had improved to such an extent that relatively wealthy consumers were required to purchase all the output the system could produce and extensive advertising was required to manufacture demand for the chronic over-supply the Capitalist system could produce. ..."
"... They knew that if wealth concentrated too much there would not be enough demand. ..."
"... Fiscal conservatism, which champions a balanced budget and expenditure restraints, is often hailed as a politico-economic philosophy as well as a policy of financial responsibility. In practice, it has been used as an argument against free spending by governments which can lead to high levels of debt and inflation. It has not been a positive philosophy which advocates the pro-growth and stability benefits coming from balanced budgets. Rather, it is a negative one – reacting against excessive spending and its consequences. This is probably why modern examples of fiscal conservatism in the United States and the United Kingdom have not led to sustainable growth or a significant reduction in public debt. Instead, in the case of the Ronald Reagan era in the US in the 1980s, public debt soared as fiscal conservatism and other policies were abandoned. ..."
"... Galbraith is probably my favorite economist, and eminently reasonable here. It makes me think that Sanders should have used him, or someone like him as an adviser/in house economist, rather than relying on external analyses like Friedman. ..."
"... Is the American public, trained/indoctrinated to think of the USG budget in terms of a household budget analogy, ready for MMT? ..."
"... To me, too many of the supposed (and actual) intellectuals and high level advisers were experts in rationalizing and explaining the chosen party views, but still employed the Cato Institute suggestion to use "Leninist" propaganda techniques as put forth in the 1996 Newt Gingrich/Frank Luntz GoPac memo, "Language: A Key Mechanism of Control." ..."
"... Galbraith said casually about the thesis of his new book: This really is the new normal for capitalism – meaning low growth – because there is not much growth left. ..."
Mar 06, 2016 | naked capitalism

... ... ...

PERIES: James, the Council of Economic Advisors, they put out economic forecasts each year. And there has been some wildly optimistic ones. For example, if you look at the 2010 predictions for 2012 and 2013 they have not quite been attained. And one would say it was done in the interest of trying to make the administration that they were serving more impressive. But what accounts for this particular attack on Friedman's projection and other fellow economists?

GALBRAITH: This was a classic case of professional bad manners and rank-pulling. What we had here were four former chairs of the president's Council of Economic Advisors, and two from President Obama, two from President Clinton, who decided to use their big names and their titles in order to launch an attack on a professor of economics at the University of Massachusetts who had written a paper evaluating the Sanders economic program.

It's likely that the four bigwigs thought that Professor Friedman was a Bernie Sanders supporter. In fact, as of that time he was a Hillary Clinton supporter and a modest donor to her campaign. What he had done was simply to write his evaluation of the economic effects of the ambitious Sanders reform program. The four former council chairs announced that on the basis of their deep commitment to rigor and objectivity, they had discovered that this forecast was unrealistic. And what I pointed out was that that claim was based on no evidence and no analysis whatsoever. And when you pressed down on it you found that it was simply based on the obvious fact that we haven't seen the kinds of growth rates that Professor Friedman's analysis suggested the Sanders program would produce. And for a very simple reason: the Sanders program is bigger. It's more ambitious than anything we've seen in recent years, so it's not surprising that when you put it through a model it generates a higher growth rate.

So that was the basic underlying facts, and these guys, two men and two women, announced that they, that it was a disreputable study, but failed to present any analysis that suggested they'd actually even read the paper before they denounced it. And that's what I pointed out in my counter letter, in a number of articles that have appeared since.

PERIES: James, so in your letter, how do you counter them? What methods did you use to come to your conclusions?

GALBRAITH: Well, I, no need to say anything beyond the fact that I had looked in their letter for the rigor that they were so proud of, for the objectivity and the analysis that they were so proud of, and I'd found that they had not done any. They had not made any such claim, not done any such work.

So that began to provoke a discussion. It's fair to say ultimately, without apologizing for effectively launching an ad hominem attack on an independent academic researcher, one of the former chairs, Christina Romer of President Obama's council, and her husband David Romer, a fellow economist, did produce a paper in which they spelled out their differences with the, with the Friedman paper. But that, again, raised another set of interesting issues which we've continued to discuss at various, various outlets of the press.

PERIES: Now, James Friedman's claim that the growth rate from Sanders' plan to be around 5.3 percent. And some economists, including Dean Baker at the Center for Economic Policy and Research, have claimed that this is unrealistic. What do you make of that?

GALBRAITH: Well, the question is whether it is an effect, let's say, a reasonable projection, of putting the Sanders program into an economic model. And the answer to that question, yes, Professor Friedman did a reasonable job. He spelled out what the underlying assumptions that he was using were. He spelled out the basic rules of thumb that macroeconomists had used for decades to assess the effects of an economic program. In this case, an expansionary economic program. And he ran them through his model and reported the results, a perfectly reasonable thing to do.

Now, one can be skeptical. And I am, and Dean Baker is, lots of people are skeptical that the world would work out quite that way, because lots of things, in fact, happen which are not accounted for in a model. And we've talked, we've basically put together a list of things that you think might be problematic. But the exercise here was not to put everything into paper that might happen in the world. The exercise was to take the kind of bare bones that economists use to assess and to compare the consequences of alternative programs, and to ask what kind of results do you get out? And that's what, again, what Jerry Friedman did. It was a reasonable exercise, he came up with a reasonable answer, and he reported it.

PERIES: Now, Friedman seems to think that the rate of full employment in 1999 is attainable. However, many labor economists seem to think that the larger share of the elderly currently in society compared to 1999 explains some of the lack of labor participation, which creates a lower full employment ceiling that's contradicting Friedman's report. Your thoughts on that?

GALBRAITH: Well, I think it is a fact that the population is getting older. But as, I think, any economist would tell you, that when you offer jobs in the labor market, the first thing that happens is the people who are looking for work take those jobs. The second thing that happens is that people who might look for work when jobs were available start coming back into the labor market. And if that is not enough to fill the vacancies that you have, it's perfectly open to employers to raise their wages so as to bring more people in, or to increase the pace at which they innovate and substitute technology for labor so that they don't need the work.

So there's no real crisis involved in the situation if it turns out five years from now we're at 3.5 percent unemployment, and they were beginning to run short of labor. That's not a reason to, at this stage, say no, we're not going to engage in the exercise and run a more expansionary, vigorous reform program, a vigorous infrastructure project, a major reform of healthcare, a tuition-free public education program. All of those things, which were part of what Friedman put into his paper, should be done anyway. The fact that the labor market forecast might prove to have some different, the labor market might have different characteristics in five years' time is from our present point of view just a, it's an academic or a theoretical proposition, purely.

PERIES: And Friedman's paper, he looks at a ten-year forecast. Did you feel that when you looked at the specifics of that, including college, universal healthcare, infrastructure spending and of course, expanding Social Security and so on, that those categories and his predictions or projections, rather, made sense to you?

GALBRAITH: Well, again, what he was doing was running a program of a certain scale, of a large scale, through a set of standard macroeconomic assumptions. And that, again, is a reasonable exercise. If you ask me what my personal view is, I've written a whole book called The End of Normal in which I lay out reasons for my chronic pessimism about the capacity of the world economy to absorb a great deal more rapid economic growth.

But that's not in the standard models, and it would not be appropriate to layer that on to a forecast of this kind. What Friedman was criticized for was not for putting his thumb on the scale, but for failing to put his thumb on the scale. In fact, that was the reasonable thing to do.

On the contrary, and on the other side, when Christina and David Romer did put out their forecast, their own criticism of the Friedman paper, they concluded by asserting that if this program were tried, inflation would soar. So they there were making an allegation for which, again, they had no evidence and no plausible model, that in the world in which we presently live would produce that result.

So what we had here was a, what was essentially an academic exercise that produced a result that was highly favorable to the Sanders position, and showed that if you did an ambitious program you would get a strong growth response. It's reasonable, certainly, for the first three or four years that that would transpire in practice. And what happened was that people who didn't like that result politically jumped on it in a way which was, frankly speaking, professionally irresponsible, in my view. It was designed to convey the impression, which it succeeded in doing for a brief while through the broad media, that this was not a reputable exercise, and that there were responsible people on one side of the debate, and irresponsible people on the other.

And that was, again, something that–an impression that could be conveyed through the mass media, but would not withstand scrutiny, and didn't withstand scrutiny, once a few of us stood up and started saying, okay, where's your evidence, on what are you basing this argument? And revealed the point, which the Romers implicitly conceded, and I give them credit for that, that in order to criticize a fellow economist you need to do some work.

... ... ...

Keith , March 6, 2016 at 4:45 am

The true nature of Capitalism has obviously been forgotten over time. Today we think it brings prosperity to all, but that was certainly never the intention. Today's raw Capitalism is showing its true nature with ever rising inequality. Capitalism is essentially the same as every other social system since the dawn of civilization. The lower and middle classes do all the work and the upper, leisure Class, live in the lap of luxury. The lower class does the manual work; the middle class does the administrative and managerial work and the upper, leisure, class live a life of luxury and leisure.

The nature of the Leisure Class, to which the benefits of every system accrue, was studied over 100 years ago. "The Theory of the Leisure Class: An Economic Study of Institutions", by Thorstein Veblen. (The Wikipedia entry gives a good insight. It was written a long time ago but much of it is as true today as it was then. This is the source of the term conspicuous consumption.) We still have our leisure class in the UK, the Aristocracy, and they have been doing very little for centuries. The UK's aristocracy has seen social systems come and go, but they all provide a life of luxury and leisure and with someone else doing all the work.

Feudalism – exploit the masses through land ownership. Capitalism – exploit the masses through wealth (Capital)

Today this is done through the parasitic, rentier trickle up of Capitalism:

a) Those with excess capital invest it and collect interest, dividends and rent.
b) Those with insufficient capital borrow money and pay interest and rent.

All this was much easier to see in Capitalism's earlier days.

Malthus and Ricardo never saw those at the bottom rising out of a bare subsistence living. This was the way it had always been and always would be, the benefits of the system only accrue to those at the top.

It was very obvious to Adam Smith:

"The Labour and time of the poor is in civilised countries sacrificed to the maintaining of the rich in ease and luxury. The Landlord is maintained in idleness and luxury by the labour of his tenants. The moneyed man is supported by his extractions from the industrious merchant and the needy who are obliged to support him in ease by a return for the use of his money. But every savage has the full fruits of his own labours; there are no landlords, no usurers and no tax gatherers."

Like most classical economists he differentiated between "earned" and "unearned" wealth and noted how the wealthy maintained themselves in idleness and luxury via "unearned", rentier income from their land and capital.

We can no longer see the difference between the productive side of the economy and the unproductive, parasitic, rentier side. This is probably why inequality is rising so fast, the mechanisms by which the system looks after those at the top are now hidden from us.

In the 19th Century things were still very obvious.

1) Those at the top were very wealthy
2) Those lower down lived in grinding poverty, paid just enough to keep them alive to work with as little time off as possible.
3) Slavery
4) Child Labour

Immense wealth at the top with nothing trickling down, just like today.

This is what Capitalism maximized for profit looks like. Labour costs are reduced to the absolute minimum to maximise profit. The beginnings of regulation to deal with the wealthy UK businessman seeking to maximise profit, the abolition of slavery and child labour. The function of the system is still laid bare. The lower class does the manual work; the middle class does the administrative and managerial work and the upper, leisure, class live a life of luxury and leisure. The majority only got a larger slice of the pie through organised Labour movements.

By the 1920s, mass production techniques had improved to such an extent that relatively wealthy consumers were required to purchase all the output the system could produce and extensive advertising was required to manufacture demand for the chronic over-supply the Capitalist system could produce. They knew that if wealth concentrated too much there would not be enough demand. In the 1950s, when Capitalism had healthy competition, it was essential that the Capitalist system could demonstrate that it was better than the competition. The US was able to demonstrate the superior lifestyle it offered to its average citizens.

Now the competition has gone, the US middle class is being wiped out. The US is going third world, with just rich and poor and no middle class. Raw Capitalism can only return Capitalism to its true state where there is little demand and those at the bottom live a life of bare subsistence.

When you realise the true nature of Capitalism, you know why some kind of redistribution is necessary and strong progressive taxation is the only way a consumer society can ever be kept functioning.

A good quote from John Kenneth Galbraith's book "The Affluent Society", which in turn comes from Marx.

"The Marxian capitalist has infinite shrewdness and cunning on everything except matters pertaining to his own ultimate survival. On these, he is not subject to education. He continues wilfully and reliably down the path to his own destruction"

Marx made some mistakes but he got quite a lot right.

Keith , March 6, 2016 at 6:29 am

Thanks to Michael Hudson, whose ideas anyone will recognise who has read his book.

"Killing the Host"

If you haven't read it, do so immediately.

Keith , March 6, 2016 at 1:11 pm

Perhaps, Western civilization had already cultivated and concentrated psychopathic personality traits in its elite before Capitalism ever begun. Early European history is an endless procession of wars at home and abroad as the elite took their wealth by force and the masses were kept in check by force whenever necessary.

No peaceful group could ever survive this relentless onslaught of millennia. This psychopathic elite then took their warlike ways to every corner of the earth. The wealthy elite from this era then became the wealthy elite of the next Capitalist era. Even today their bloodlust cannot be sated as they look to control a global empire.

Keith , March 6, 2016 at 1:17 pm

"We came, we saw, he died" rinse and repeat for 5,000 years.

Vatch , March 6, 2016 at 5:00 pm

Certainly countless hundreds of peaceful, responsible, inclusive, open, empathetic indigenous societies have been co-opted/overthrown by the western model.

Yes, but it's not just the western model that overthrows peaceful societies. The empires of China, the Japanese monarchies, the empires of India (together with a cringeworthy caste system), the human sacrificing Aztecs, Mayas, and Incas, all prove that tyranny is not a western invention.

When a local population becomes too large to be supported by simple egalitarian hunting and gathering, something else is required. That something is agriculture, and almost inevitably, the organization, specialization, and partial urbanization required by large scale agricultural society leads to exploitation and tyranny. This is seen in the earliest societies for which we have a written record, Sumer and Egypt.

Jim Young , March 6, 2016 at 12:27 pm

Thanks for the explanations of Veblen and Galbraith, which I find enduring basics over more than 100 years of speculation, real investment, and the best way to keep consumer society healthy.

My unschooled, simple, way to measure the health of an economy is in the Velocity of Money in the real economy of useful products and services. It appears to be very far below where it was when we did our best, and lower than when we first started measuring it near the beginning of the Great Depression.

Clive , March 6, 2016 at 12:37 pm

Or, pictorially illustrated .

I'm thinking of having my Christmas Cards printed with it on the front this year.

Keith , March 6, 2016 at 1:58 pm

In addition ..

By the 1920s, mass production techniques had improved to such an extent that relatively wealthy consumers were required to purchase all the output the system could produce and extensive advertising was required to manufacture demand for the chronic over-supply the Capitalist system could produce.

They knew that if wealth concentrated too much there would not be enough demand.

Of course the Capitalists could never find it in themselves to raise wages and it took the New Deal and Keynesian thinking to usher in the consumer society.

For The Win , March 6, 2016 at 5:46 am

Colonialism and fiscal conservatism

Fiscal conservatism, which champions a balanced budget and expenditure restraints, is often hailed as a politico-economic philosophy as well as a policy of financial responsibility. In practice, it has been used as an argument against free spending by governments which can lead to high levels of debt and inflation. It has not been a positive philosophy which advocates the pro-growth and stability benefits coming from balanced budgets. Rather, it is a negative one – reacting against excessive spending and its consequences. This is probably why modern examples of fiscal conservatism in the United States and the United Kingdom have not led to sustainable growth or a significant reduction in public debt. Instead, in the case of the Ronald Reagan era in the US in the 1980s, public debt soared as fiscal conservatism and other policies were abandoned.

Rodger Malcolm Mitchell , March 6, 2016 at 2:08 pm

A Monetarily Sovereign government does not need to reduce debt. In the U.S. (which is Monetarily Sovereign) federal so-called "debt" is actually the total of deposits in T-security accounts at the Federal Reserve Bank. In short, "debt" is bank deposits.

Why anyone would want to reduce the size of deposits at the world's safest bank is a mystery to me - other than the misleading use of the word "debt."

While all bank accounts are, in fact, debt of banks, most banks boast about the size of their depositors' accounts.

Contrary to popular myth, federal debt (i.e. deposits at the FRB) does not lead to inflation. America's "debt" has grown more than 9,000% in the past 75 years, and the Fed is struggling to create inflation.

mpr , March 6, 2016 at 9:12 am

Galbraith is probably my favorite economist, and eminently reasonable here. It makes me think that Sanders should have used him, or someone like him as an adviser/in house economist, rather than relying on external analyses like Friedman. It would possibly have given his program more gravitas – first amongst elites, and then more generally. At least it would have had a chance of changing the broader discussion. Whether you agree with it or not, right now the general MSM reporting on the Sanders plan is that it doesn't add up.

diptherio , March 6, 2016 at 9:57 am

I want to know why he hasn't been prominently featuring Prof. Kelton and her economic policy prescriptions. What's up with that?

John Zelnicker , March 6, 2016 at 10:25 am

This is speculative, but since Prof. Kelton is actually the economist for the Minority (the Democrats) of the Senate Banking committee, there may be reasons of protocol that Sanders isn't using her policy ideas at the moment.

Another possibility is that trying to introduce a new economic paradigm while running for the nomination may be a bridge too far. If Sanders tried to explain to people that taxes don't fund federal spending, etc., heads would explode.

I'm also not sure how one would use Prof. Kelton's ideas without bringing in a whole bunch of MMT concepts. Maybe if Sanders wins the nomination he can begin to bring some of these ideas into the conversation.

Rodger Malcolm Mitchell , March 6, 2016 at 2:19 pm

He won't use her ideas simple because the American voter in not yet amenable to the facts of Monetary Sovereignty .

Try explaining even to your best friend that:

1. Unlike state and local taxes, Federal taxes do not fund federal spending.
2. Even if FICA were eliminated, Social Security and Medicare benefits dramatically could (and should) be increased. There are no federal "trust funds."
3. Federal deficits are necessary for economic growth
4. Federal "debt" is nothing more than deposits in T-security accounts at the Federal Reserve Bank.
5. America never has had, and is absolutely in no danger of, hyper-inflation.

Perhaps, if Bernie wins the election, he will be freer to educate the masses, as well as the economics community, but meanwhile he has to claim the popular myth that federal spending has to be "paid for" by taxes.

Kurt Sperry , March 6, 2016 at 11:48 am

Is the American public, trained/indoctrinated to think of the USG budget in terms of a household budget analogy, ready for MMT? I think it's politically OK to use MMT informed policies–"deficits don't matter"–as the Republicans have, but not OK to openly acknowledge doing so. MMT runs head on into bedrock beliefs like the protestant moral virtues of thrift and fiscal responsibility. People cling to this stuff as tightly as they cling to their religion and guns.

MaroonBulldog , March 6, 2016 at 1:00 pm

MMT is a volatile, explosive doctrine. Tell an ordinary off-the-street taxpayer that Federal taxes don't fund Federal expenditures, that Federal taxes destroy the money they collect and so keep inflation at desired levels, and ready yourself to answer this:

"If I'm just paying taxes so the money can be burned, why should I pay taxes? What good does paying taxes for that do me, or people like me?"

And be prepared not to have your answer heard, comprehended, or accepted, after it is given.

It could lead directly and quickly to the end of a system of tax collection based on voluntary compliance. It could ignite a revolution.

MMT is an unpopular doctrine. Whether it is the true theory, or a truer theory than others, of the state of the world–is not the point.

Yves Smith Post author , March 6, 2016 at 3:01 pm

She can't. She's his staffer (on the Senate Budget Committee) so she is now allowed to work on the campaign. It would be a big ethics violation and would produce a scandal. Staffers cannot work on any of their bosses campaigns, including re-elections. Remember, they are government employees, not on Sanders' personal payroll.

Jim Young , March 6, 2016 at 11:56 am

My old party has worked hard to try discredit James Galbraith. I was faced with some ridicule from a Bush era international negotiator for trying to read "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too" in an airport waiting area.

To me, too many of the supposed (and actual) intellectuals and high level advisers were experts in rationalizing and explaining the chosen party views, but still employed the Cato Institute suggestion to use "Leninist" propaganda techniques as put forth in the 1996 Newt Gingrich/Frank Luntz GoPac memo, "Language: A Key Mechanism of Control."

I don't oppose them (at that level) expressing their well thought out views, even using the "persuasive" techniques described in the document at http://www.informationclearinghouse.info/article4443.htm but I do fault them for trying to prevent people from freely exploring far more comprehensive information and views.

We left the party ancestors had founded and stayed loyal to for 5 generations, though, because of the lower level dirty tricksters ("opposition researchers") that wanted us to corrupt the processes as one fund raiser told me, "We have to fight dirtier than Democrats."

Galbraith is a voice that must be listened to, just as there may be many others that we should be able to listen to (as I assume we could have under the old "Fairness Doctrine" before the corporate take over of almost all fully accessible media).

susan the other , March 6, 2016 at 11:49 am

stg Galbraith said casually about the thesis of his new book: This really is the new normal for capitalism – meaning low growth – because there is not much growth left. So maybe we are headed for a no growth world in which stability and sustainability dictate enterprise which is used to maintain a steady state – so that sounds more socialist than capitalist out of necessity. I believe this is our future too. And I think I understand Varoufakis' and Galbraith's "modest proposal" in a clearer light because growth must be used going forward not willy-nilly, but to achieve our ends. And also too – a while back the link that effectively said we had it backwards when we assume that capitalism supports socialism – because capitalism in reality lives off and is only possible under sufficient socialism. And it seems the 4 presidential advisors are more out to lunch than their letter showed.

jack , March 6, 2016 at 1:09 pm

As somebody asked above, I am still left wondering where Justin Wolfer's NYTimes piece fits into all this?

Detroit Dan , March 6, 2016 at 4:49 pm

Can't respond to all the nonsense. I just read Wolfer's piece and it seems to miss the point (as with the Romers), as noted in the following 2 articles. I especially recommend the 2nd one from John Cassidy in the New Yorker.

Friedman-Response-to-the-Romers
Bernie Sanders and the Case for a New Economic-Stimulus Package

Bernard , March 6, 2016 at 1:22 pm

as usual, i hear a lot "they" failed conservatism, never, Conservatism is just the age old avenue to "scam" the other. Bush "failed" at conservatism, i.e., it was Bush's fault not the ideology of Conservatism. on and on, this self repeated/reinforced "idea" that we have just not "found" the correct "application" of the ideal/reality that is Conservatism.

it does get old, too. all the people killed due to Conservatism and its' perpetrators. Greed, in other words, and the age old scam with "new and improved" tactics. These people have no concept of what "society" is, why we are all interrelated. to scam one is to scam us all. and these people are definitely not Christian in the "Jesus Christ" i've always heard about. Whatsoever you do unto the poor, you do unto me!

i just suppose psychopaths use any avenue for their "crimes." as i've heard, too, any great fortune is usually the result of a great crime.

somethings never change.

[Nov 05, 2017] China and the US Rational Planning and Lumpen Capitalism by James Petras

Highly recommended!
Please buy the author books Rulers and Ruled in the US Empire Bankers, Zionists and Militanta and The Politics of Empire The US, Israel and the Middle East both book contain material which the US corporate media will never tell you. A must-read for anyone who wants to understand world economics and current problem with neoliberalism in the USA
Notable quotes:
"... "China is the world leader in payments made by mobile devices", ..."
"... Financial Times ..."
"... Financial Times ..."
"... Financial Times ..."
"... 80% recognize that the Congress is dysfunctional and 86% believe that Washington is dishonest. Never has an empire of such limitless power crumbled and declined with so few accomplishments. ..."
Nov 05, 2017 | www.unz.com

Lumpen Capitalism refers to an economic system in which the financial and military sector exploits the state treasury and productive economy for the 1% of the population.)

Introduction

US journalists and commentators, politicians and Sinologists spend considerable time and space speculating on the personality of China's President Xi Jinping and his appointments to the leading bodies of the Chinese government, as if these were the most important aspects of the entire 19th National Congress of the Communist Party of China (October 18-24, 2017) .

(The 19th National Congress was attended by 2,280 delegates representing 89 million members.)

Mired down in gossip, idle speculation and petty denigration of its leaders, the Western press has once again failed to take account of the world-historical changes which are currently taking place in China and throughout the world.

World historical changes, as articulated by Chinese President Xi Jinping, are present in the vision, strategy and program of the Congress. These are based on a rigorous survey of China's past, present and future accomplishments.

The serious purpose, projections and the presence of China's President stand in stark contrast to the chaos, rabble-rousing demagogy and slanders characterizing the multi-billion dollar US Presidential campaign and its shameful aftermath.

The clarity and coherence of a deep strategic thinker like President Xi Jinping contrasts to the improvised, contradictory and incoherent utterances from the US President and Congress. This is not a matter of mere style but of substantive content.

We will proceed in the essay by contrasting the context, content and direction of the two political systems.

China: Strategic Thinking and Positive Outcomes

China, first and foremost, has established well-defined strategic guidelines that emphasize macro-socio-economic and military priorities over the next five, ten and twenty years.

China is committed to reducing pollution in all of its manifestations via the transformation of the economy from heavy industry to a high-tech service economy, moving from quantitative to qualitative indicators.

Secondly, China will increase the relative importance of the domestic market and reduce its dependence on exports. China will increase investments in health, education, public services, pensions and family allowances.

Thirdly, China plans to invest heavily in ten economic priority sectors. These include computerized machinery, robotics, energy saving vehicles, medical devices, aerospace technology, and maritime and rail transport. It targets three billion (US) dollars to upgrade technology in key industries, including electrical vehicles, energy saving technology, numerical control (digitalization) and several other areas. China plans to increase investment in research and development from .95% to 2% of GDP.

Moreover, China has already taken steps to launch the 'petro-Yuan', and end US global financial dominance.

China has emerged as the world's leader in advancing global infrastructure networks with its One Belt One Road (Silk Road) across Eurasia. Chinese-built ports, airports and railroads already connect twenty Chinese cities to Central Asia, West Asia, South-East Asia, Africa and Europe. China has established a multi-lateral Asian Infrastructure Investment Bank (with over 60 member nations) contributing 100 billion dollars for initial financing.

China has combined its revolution in data collection and analysis with central planning to conquer corruption and improve the efficiency in credit allocation. Beijing's digital economy is now at the center of the global digital economy. According to one expert, "China is the world leader in payments made by mobile devices", (11 times the US). One in three of the world's start-ups, valued at more than $1 billion, take place in China ( FT 10/28/17, p. 7). Digital technology has been harnessed to state-owned banks in order to evaluate credit risks and sharply reduce bad debt. This will ensure that financing is creating a new dynamic flexible model combining rational planning with entrepreneurial vigor (ibid).

As a result, the US/EU-controlled World Bank has lost its centrality in global financing. China is already Germany's largest trading partner and is on its way to becoming Russia's leading trade partner and sanctions-busting ally.

China has widened and expanded its trade missions throughout the globe, replacing the role of the US in Iran, Venezuela and Russia and wherever Washington has imposed belligerent sanctions.

While China has modernized its military defense programs and increased military spending, almost all of the focus is on 'home defense' and protection of maritime trade routes. China has not engaged in a single war in decades.

China's system of central planning allows the government to allocate resources to the productive economy and to its high priority sectors. Under President Xi Jinping, China has created an investigation and judicial system leading to the arrest and prosecution of over a million corrupt officials in the public and private sector. High status is no protection from the government's anti-corruption campaign: Over 150 Central Committee members and billionaire plutocrats have fallen. Equally important, China's central control over capital flows (outward and inward) allows for the allocation of financial resources to high tech productive sectors while limiting the flight of capital or its diversion into the speculative economy.

As a result, China's GNP has been growing between 6.5% – 6.9% a year – four times the rate of the EU and three times the US.

As far as demand is concerned, China is the world's biggest market and growing. Income is growing – especially for wage and salaried workers. President Xi Jinping has identified social inequalities as a major area to rectify over the next five years.

The US: Chaos, Retreat and Reaction

In contrast, the United States President and Congress have not fashioned a strategic vision for the country, least of all one linked to concrete proposals and socio-economic priorities, which might benefit the citizenry.

The US has 240,000 active and reserve armed forces stationed in 172 countries. China has less than 5,000 in one country – Djibouti. The US stations 40,000 troops in Japan, 23,000 in South Korea, 36,000 in Germany, 8,000 in the UK and over 1,000 in Turkey. What China has is an equivalent number of highly skilled civilian personnel engaged in productive activity around the world. China's overseas missions and its experts have worked to benefit both global and Chinese economic growth.

The United States' open-ended, multiple military conflicts in Afghanistan, Iraq, Syria, Libya, Yemen, Niger, Somalia, Jordan and elsewhere have absorbed and diverted hundreds of billions of dollars away from productive investments in the domestic economy. In only a few cases, military spending has built useful roads and infrastructure, which could be counted a 'dual use', but overwhelmingly US military activities abroad have been brutally destructive, as shown by the deliberate dismemberment of Yugoslavia, Iraq and Libya.

The US lacks the coherence of China's policy making and strategic leadership. While chaos has been inherent in the politics of the US 'free market' financial system, it is especially widespread and dangerous during the Trump regime.

Congressional Democrats and Republicans, united and divided, actively confront President Trump on every issue no matter how important or petty. Trump improvises and alters his policies by the hour or, at most, by the day. The US possesses a party system where one party officially rules in the Administration with two militarist big business wings.

US has been spending over 700 billion dollars a year to pursue seven wars and foment 'regime changes' or coups d'état on four continents and eight regions over the past two decades. This has only caused disinvestment in the domestic economy with deterioration of critical infrastructure, loss of markets, widespread socioeconomic decline and a reduction of spending on research and development for goods and services.

The top 500 US corporations invest overseas, mainly to take advantage of low tax region and sources of cheap labor, while shunning American workers and avoiding US taxes. At the same time, these corporations share US technology and markets with the Chinese.

Today, US capitalism is largely directed by and for financial institutions, which absorb and divert capital from productive investments, generating an unbalanced crisis-prone economy. In contrast, China determines the timing and location of investments as well as bank interest rates, targeting priority investments, especially in advanced high-tech sectors.

Washington has spent billions on costly and unproductive military-centered infrastructure (military bases, naval ports, air stations etc.) in order to buttress stagnant and corrupt allied regimes. As a result, the US has nothing comparable to China's hundred-billion-dollar 'One Belt-One Road' (Silk Road) infrastructure project linking continents and major regional markets and generating millions of productive jobs.

The US has broken global linkages with dynamic growth centers. Washington resorts to self-defecating, mindless chauvinistic rhetoric to impose trade policy, while China promotes global networks via joint ventures. China incorporates international supply linkages by securing high tech in the West and low cost labor in the East.

Big US industrial groups' earnings and rising stock in construction and aerospace are products of their strong ties with China. Caterpillar, United Technologies 3M and US car companies reported double-digit growth on sales to China.

In contrast, the Trump regime has allocated (and spent) billions in military procurement to threaten wars against China's peripheral neighbors and interfere with its maritime commerce.

US Decline and Media Frenzy

The retreat and decline of US economic power has driven the mass media into a frenzy of idiotic ad hominem assaults on China's political leader President Xi Jinping. Among the nose pickers in print, the scribes of the Financial Times take the prize for mindless vitriol. Mercenaries and holy men in Tibet are described as paragons of democracy and 'victims' of a flourishing modernizing Chinese state lacking the 'western values' (sic) of floundering Anglo-American warmongers!

To denigrate China's system of national planning and its consequential efforts to link its high tech economy with improving the standard of living for the population, the FT journalists castigate President Xi Jinping for the following faults:

For not being as dedicated a Communist as Mao Zedong or Deng Xiaopeng For being too 'authoritarian' (or too successful) in his campaign to root out corrupt officials. For setting serious long-term goals while confronting and overcoming economic problems by addressing the 'dangerous' level of debt.

While China has broadened its cultural horizon, the Anglo-Saxon global elite increases possibility of nuclear warfare. China's cultural and economic outreach throughout the world is dismissed by the Financial Times as 'subversive soft power'. Police-state minds and media in the West see China's outreach as a plot or conspiracy. Any serious writer, thinker or policymaker who has studied and praised China's success is dismissed as a dupe or agent of the sly President Xi Jinping. Without substance or reflection, the FT (10/27/17) warns its readers and police officials to be vigilant and avoid being seduced by China's success stories!

China's growing leadership in automobile production is evident in its advance towards dominating the market for electric vehicles. Every major US and EU auto company has ignored the warnings of the Western media ideologues and rushed to form joint ventures with China.

China has an industrial policy. The US has a war policy. China plans to surpass the US and Germany in artificial intelligence, robotics, semi-conductors and electric vehicles by 2025. And it will -- because those are its carefully pronounced scientific and economic priorities.

Shamelessly and insanely, the US press pursues the expanding stories of raging Hollywood rapists like the powerful movie mogul, Harvey Weinstein, and the hundreds of victims, while ignoring the world historic news of China's rapid economic advances.

The US business elites are busy pushing their President and the US Congress to lower taxes for the billionaire elite, while 100 million US citizens remain without health care and register decreased life expectancy! Washington seems committed to in State-planned regression.

As US bombs fall on Yemen and the American taxpayers finance the giant Israeli concentration camp once known as 'Palestine', while China builds systems of roads and rail linking the Himalayas and Central Asia with Europe.

While Sherlock Holmes applies the science of observation and deduction, the US media and politicians perfect the art of obfuscation and deception.

In China, scientists and innovators play a central role in producing and increasing goods and services for the burgeoning middle and working class. In the US, the economic elite play the central role in exacerbating inequalities, increasing profits by lowering taxes and transforming the American worker into poorly-paid temp-labor – destined to die prematurely of preventable conditions.

While Chinese President Xi Jinping works in concert with the nation's best technocrats to subordinate the military to civilian goals, President Trump and his Administration subordinate their economic decisions to a military-industrial-financial-Israeli complex. Beijing invests in global networks of scientists, researchers and scholars. The US 'opposition' Democrats and disgruntled Republicans work with the giant corporate media (including the respectable Financial Times ) to fund and fabricate conspiracies and plots under Trump's Presidential bed.

Conclusion

China fires and prosecutes corrupt officials while supporting innovators. Its economy grows through investments, joint ventures and a great capacity to learn from experience and powerful data collection. The US squanders its domestic resources in pursuing multiple wars, financial speculation and rampant Wall Street corruption.

China investigates and punishes its corrupt business and public officials while corruption seems to be the primary criteria for election or appointment to high office in the US. The US media worships its tax-dodging billionaires and thinks it can mesmerize the public with a dazzling display of bluster, incompetence and arrogance.

China directs its planned economy to address domestic priorities. It uses its financial resources to pursue historic global infrastructure programs, which will enhance global partnerships in mutually beneficial projects.

It is no wonder that China is seen as moving toward the future with great advances while the US is seen as a chaotic frightening threat to world peace and its publicists as willing accomplices.

China is not without shortcomings in the spheres of political expression and civil rights. Failure to rectify social inequalities and failure to stop the outflow of billions of dollars of illicit wealth, and the unresolved problems with regime corruption will continue to generate class conflicts.

But the important point to note is the direction China has chosen to take and its capacity and commitment to identify and correct the major problems it faces.

The US has abdicated its responsibilities. It is unwilling or unable to harness its banks to invest in domestic production to expand the domestic market. It is completely unwilling to identify and purge the manifestly incompetent and to incarcerate the grossly corrupt officials and politicians of both parties and the elites.

Today overwhelming majorities of US citizens despise, distrust and reject the political elite. Over 70% think that the inane factional political divisions are at their greatest level in over 50 years and have paralyzed the government.

80% recognize that the Congress is dysfunctional and 86% believe that Washington is dishonest. Never has an empire of such limitless power crumbled and declined with so few accomplishments.

China is a rising economic empire, but it advances through its active engagement in the market of ideas and not through futile wars against successful competitors and adversaries. As the US declines, its publicists degenerate.

The media's ceaseless denigration of China's challenges and its accomplishments is a poor substitute for analysis. The flawed political and policy making structures in the US and its incompetent free-market political leaders lacking any strategic vision crumble in contrast to China's advances.

[Nov 04, 2017] Who's Afraid of Corporate COINTELPRO by C. J. Hopkins

Highly recommended!
These tactics do not just suppress information. They enforce conformity at much deeper level.
Notable quotes:
"... I am using the Orwellian verb "unperson" playfully, but I'm also trying to be precise. What's happening isn't censorship, technically, at least not in the majority of cases. While there are examples of classic censorship (e.g., in the UK, France, and Germany), apart from so-called "terrorist content," most governments aren't formally banning expressions of anti-corporatist dissent. This isn't Czechoslovakia, after all. This is global capitalism, where the repression of dissent is a little more subtle. The point of Google unpersoning CounterPunch (and probably many other publications) and Pulitzer Prize-winning journalists like Hedges is not to prevent them from publishing their work or otherwise render them invisible to readers. The goal is to delegitmize them, and thus decrease traffic to their websites and articles, and ultimately drive them out of business, if possible. ..."
"... Another objective of this non-censorship censorship is discouraging writers like myself from contributing to publications like CounterPunch, Truthdig, Alternet, Global Research, and any other publications the corporatocracy deems "illegitimate." Google unpersoning a writer like Hedges is a message to other non-ball-playing writers. The message is, "this could happen to you." This message is meant for other journalists, primarily, but it's also aimed at writers like myself who are making a living (to whatever degree) writing and selling what we think of as "literature." ..."
"... These tactics do not just suppress information. They enforce conformity at much deeper level. ..."
"... Chomsky explains how this system operates in What Makes Mainstream Media Mainstream . It isn't a question of censorship the system operates on rewards and punishments, financial and emotional coercion, and subtler forms of intimidation. Making examples of non-cooperators is a particularly effective tactic. Ask any one of the countless women whose careers have been destroyed by Harvey Weinstein, or anyone who's been to graduate school, or worked at a major corporation. ..."
"... C. J. Hopkins is an award-winning American playwright, novelist and satirist based in Berlin. His plays are published by Bloomsbury Publishing (UK) and Broadway Play Publishing (USA). His debut novel, ZONE 23 , is published by Snoggsworthy, Swaine & Cormorant. He can reached at cjhopkins.com or consentfactory.org . ..."
Nov 04, 2017 | www.unz.com

On November 30, 2016, presumably right at the stroke of midnight, Google Inc. unpersoned CounterPunch. They didn't send out a press release or anything. They just quietly removed it from the Google News aggregator. Not very many people noticed. This happened just as the "fake news" hysteria was being unleashed by the corporate media, right around the time The Washington Post ran this neo-McCarthyite smear piece vicariously accusing CounterPunch, and a number of other publications, of being "peddlers of Russian propaganda." As I'm sure you'll recall, that astounding piece of "journalism" (which The Post was promptly forced to disavow with an absurd disclaimer but has refused to retract) was based on the claims of an anonymous website apparently staffed by a couple of teenagers and a formerly rabidly anti-Communist, now rabidly anti-Putin think tank. Little did most people know at the time that these were just the opening salvos in what has turned out to be an all-out crackdown on any and all forms of vocal opposition to the global corporate ruling classes and their attempts to quash the ongoing nationalist backlash against their neoliberal agenda.

Almost a year later, things are much clearer. If you haven't been following this story closely, and you care at all about freedom of the press, freedom of speech, and that kind of stuff, you may want to take an hour or two and catch up a bit on what's been happening. I offered a few examples of some of the measures governments and corporations have been taking to stifle expressions of dissent in my latest piece in CounterPunch , and there are many more detailed articles online, like this one by Andre Damon from July, and this follow-up he published last week (which reports that Pulitzer Prize-winning journalist and author Chris Hedges has also been unpersoned). Or, if you're the type of soul who only believes what corporations tell you, and who automatically dismisses anything published by a Trotskyist website, here's one from last December in The Guardian , and an op-ed in The New York Times , both of which at least report what Google, Twitter, and Facebook are up to. Or you could read this piece by Robert Parry , who also has "legitimate" (i.e., corporate) credentials, and who hasn't been unpersoned just yet, although I'm sure they'll get around to him eventually.

I am using the Orwellian verb "unperson" playfully, but I'm also trying to be precise. What's happening isn't censorship, technically, at least not in the majority of cases. While there are examples of classic censorship (e.g., in the UK, France, and Germany), apart from so-called "terrorist content," most governments aren't formally banning expressions of anti-corporatist dissent. This isn't Czechoslovakia, after all. This is global capitalism, where the repression of dissent is a little more subtle. The point of Google unpersoning CounterPunch (and probably many other publications) and Pulitzer Prize-winning journalists like Hedges is not to prevent them from publishing their work or otherwise render them invisible to readers. The goal is to delegitmize them, and thus decrease traffic to their websites and articles, and ultimately drive them out of business, if possible.

Another objective of this non-censorship censorship is discouraging writers like myself from contributing to publications like CounterPunch, Truthdig, Alternet, Global Research, and any other publications the corporatocracy deems "illegitimate." Google unpersoning a writer like Hedges is a message to other non-ball-playing writers. The message is, "this could happen to you." This message is meant for other journalists, primarily, but it's also aimed at writers like myself who are making a living (to whatever degree) writing and selling what we think of as "literature."

Yes, as you've probably guessed by now, in addition to writing political satire, I am, as rogue journalist Caitlin Johnstone so aptly put it once, an "elitist wanker." I've spent the majority of my adult life writing stage plays and working in the theater, and it doesn't get any more elitist than that. My plays are published by "establishment" publishers, have won a few awards, and have been produced internationally. I recently published my "debut novel" (which is what you call it if you're an elitist wanker) and am currently trying to promote and sell it. I mention this, not to blow my little horn, but to the set the stage to try to illustrate how these post-Orwellian intimidation tactics (i.e., unpersoning people from the Internet) work. These tactics do not just suppress information. They enforce conformity at much deeper level.

The depressing fact of the matter is, in our brave new Internet-dominated world, corporations like Google, Twitter, and Facebook (not to mention Amazon), are, for elitist wankers like me, in the immortal words of Colonel Kurz, "either friends or they are truly enemies to be feared." If you are in the elitist wanker business, regardless of whether you're Jonathan Franzen, Garth Risk Hallberg, Margaret Atwood, or some "mid-list" or "emerging" author, there is no getting around these corporations. So it's kind of foolish, professionally speaking, to write a bunch of essays that will piss them off, and then publish these essays in CounterPunch. Literary agents advise against this. Other elitist literary wankers, once they discover what you've been doing, will avoid you like the bubonic plague. Although it's perfectly fine to write books and movies about fictional evil corporations, writing about how real corporations are using their power to mold societies into self-policing virtual prisons of politically-correct, authoritarian consumers is well, it's something that is just not done in professional elitist wanker circles.

Normally, all this goes without saying, as these days most elitist wankers are trained how to write, and read, and think, in MFA conformity factories, where they screen out any unstable weirdos with unhealthy interests in political matters. This is to avoid embarrassing episodes like Harold Pinter's Nobel Prize lecture (which, if you haven't read it, you probably should), and is why so much of contemporary literature is so well-behaved and instantly forgettable. This institutionalized screening system is also why the majority of journalists employed by mainstream media outlets understand, without having to be told, what they are, and are not, allowed to report. Chomsky explains how this system operates in What Makes Mainstream Media Mainstream . It isn't a question of censorship the system operates on rewards and punishments, financial and emotional coercion, and subtler forms of intimidation. Making examples of non-cooperators is a particularly effective tactic. Ask any one of the countless women whose careers have been destroyed by Harvey Weinstein, or anyone who's been to graduate school, or worked at a major corporation.

Or let me provide you with a personal example.

A couple weeks ago, I googled myself (which we elitist wankers are wont to do), and noticed that two of my published books had disappeared from the "Knowledge Panel" that appears in the upper right of the search results. I also noticed that the people "People Also Search For" in the panel had changed. For years, consistently, the people you saw there had been a variety of other elitist literary wankers and leftist types. Suddenly, they were all rather right-wing types, people like Ilana Mercer and John Derbyshire, and other VDARE writers. So that was a little disconcerting.

I set out to contact the Google Search specialists to inquire about this mysterious development, and was directed to a series of unhelpful web pages directing me to other unhelpful pages with little boxes where you can write and submit a complaint to Google, which they will completely ignore. Being an elitist literary wanker, I also wrote to Google Books, and exchanged a number of cordial emails with an entity (let's call her Ms. O'Brien) who explained that, for "a variety of reasons," the "visibility" of my books (which had been consistently visible for many years) was subject to change from day to day, and that, regrettably, she couldn't assist me further, and that sending her additional cordial emails was probably a pointless waste of time. Ms. O'Brien was also pleased to report that my books had been restored to "visibility," which, of course, when I checked, they hadn't.

"Whatever," I told myself, "this is silly. It's probably just some IT thing, maybe Google Books updating its records, or something." However, I was still perplexed by the "People Also Search For" switcheroo, because it's kind of misleading to link my writing to that of a bunch of serious right-wingers. Imagine, if you were a dystopian sci-fi fan, and you googled me to check out my book and see what else I had written, and so on, and my Google "Knowledge Panel" popped up and displayed all these far-right VDARE folks. Unless you're a far-right VDARE type yourself, that might be a little bit of a turn-off.

At that point, I wondered if I was getting paranoid. Because Google Search runs on algorithms, right? And my political satire and commentary is published, not only in CounterPunch, but also in The Unz Review, where these far-right-wing types are also published. Moreover, my pieces are often reposted by what appear to be "Russia-linked" websites, and everyone knows that the Russians are all a bunch of white supremacists, right? On top of which, it's not like I'm Stephen King here. I am hardly famous enough to warrant the attention of any post-Orwellian corporate conspiracy to stigmatize anti-establishment dissent by manipulating how authors are displayed on Google (i.e., subtly linking them to white supremacists, anti-Semites, and others of that ilk).

So, okay, I reasoned, what probably happened was over the course of twenty-four hours, for no logical reason whatsoever, all the folks who had been googling me (along with other leftist and literary figures) suddenly stopped googling me, all at once, while, more or less at the exact same time, hundreds of right-wingers started googling me (along with those white supremacist types they had, theoretically, already been googling). That kind of makes sense when you think about it, right? I mean, Google couldn't be doing this intentionally. It must have been some sort of algorithm that detected this sudden, seismic shift in the demographic of people googling me.

Or, I don't know, does that possibly sound like a desperate attempt to rationalize the malicious behavior of an unaccountable, more or less god-like, global corporation that wields the power of life and death over my book sales and profile on the Internet (a more or less god-like global corporation that could do a lot of additional damage to my sales and reputation with complete impunity once the piece you're reading is published)? Or am I simply getting paranoid, and, in fact, I've developed a secret white supremacist fan base without my knowledge? Only Google knows for sure.

Such are the conundrums elitist literary wankers have to face these days that is, those of us wankers who haven't learned to keep our fucking mouths shut yet. Probably the safest course of action, regardless of whether I'm being paranoid or Google does have me on some kind of list, is to lay off the anti-corporatist essays, and definitely stop contributing to CounterPunch, not to mention The Unz Review, and probably also give up the whole dystopian satire novel thing, and ensure that my second novel conforms to the "normal" elitist wanker rules (which every literary wanker knows, but which, technically, do not exist). Who knows, if I play my cards right, maybe I can even sell the rights to Miramax, or okay, some other corporation.

Once that happens, I assume that Google will want to restore me to normal personhood, and return my books to visibility, and I will ride off into the Hollywood sunset with the Clintons, Clooneys, and Pichais, and maybe even Barack Obama himself, if he isn't off jet skiing with Richard Branson, or having dinner with Jeff and MacKenzie Bezos, who just happen to live right down the street, or hawking the TPP on television. By that time, CounterPunch and all those other "illegitimate" publications will have been forced onto the dark web anyway, so I won't be giving up all that much. I know, that sounds pretty cold and cynical, but my liberal friends will understand I just hope all my new white supremacist fans will find it in their hearts to forgive me.

C. J. Hopkins is an award-winning American playwright, novelist and satirist based in Berlin. His plays are published by Bloomsbury Publishing (UK) and Broadway Play Publishing (USA). His debut novel, ZONE 23 , is published by Snoggsworthy, Swaine & Cormorant. He can reached at cjhopkins.com or consentfactory.org .

anonymous , • Disclaimer November 3, 2017 at 12:15 pm GMT

Thank you for mustering the courage and then taking the time to spell out these outrages in a straightforward, unemotional way. I've appreciated the humor that centers your other essays, but there's not a damned thing funny about this.

But why are things as they are? With billions aplenty, our rulers must be driven by their libido dominandi. We're left to wonder only whether they get off more on ostracizing the Hopkinses, on buying the politicians, or on herding the sheep from bathrooms to statues to flags.

[Oct 25, 2017] Tomorrow Belongs to the Corporatocracy by C.J. Hopkins

Highly recommended!
Notable quotes:
"... Google is algorithmically burying leftist news and opinion sources such as Alternet, Counterpunch, Global Research, Consortium News, and Truthout, among others. ..."
"... my political essays are often reposted by right-wing and, yes, even pro-Russia blogs. I get mail from former Sanders supporters, Trump supporters, anarchists, socialists, former 1960s radicals, anti-Semites, and other human beings, some of whom I passionately agree with, others of whom I passionately disagree with. As far as I can tell from the emails, none of these readers voted for Clinton, or Macron, or supported the TPP, or the debt-enslavement and looting of Greece, or the ongoing restructuring of the Greater Middle East (and all the lovely knock-on effects that has brought us), or believe that Trump is a Russian operative, or that Obama is Martin Luther Jesus-on-a-stick. ..."
"... What they share, despite their opposing views, is a general awareness that the locus of power in our post-Cold War age is primarily corporate, or global capitalist, and neoliberal in nature. They also recognize that they are being subjected to a massive propaganda campaign designed to lump them all together (again, despite their opposing views) into an intentionally vague and undefinable category comprising anyone and everyone, everywhere, opposing the hegemony of global capitalism, and its non-ideological ideology (the nature of which I'll get into in a moment). ..."
"... Although the term has been around since the Fifth Century BC, the concept of "extremism" as we know it today developed in the late Twentieth Century and has come into vogue in the last three decades. During the Cold War, the preferred exonymics were "subversive," "radical," or just plain old "communist," all of which terms referred to an actual ideological adversary. ..."
"... Which is why, despite the "Russiagate" hysteria the media have been barraging us with, the West is not going to war with Russia. Nor are we going to war with China. Russia and China are developed countries, whose economies are entirely dependent on global capitalism, as are Western economies. The economies of every developed nation on the planet are inextricably linked. This is the nature of the global hegemony I've been referring to throughout this essay. Not American hegemony, but global capitalist hegemony. Systemic, supranational hegemony (which I like to prefer "the Corporatocracy," as it sounds more poetic and less post-structural). ..."
"... Global capitalism, since the end of the Cold War (i.e, immediately after the end of the Cold War), has been conducting a global clean-up operation, eliminating actual and potential insurgencies, mostly in the Middle East, but also in its Western markets. Having won the last ideological war, like any other victorious force, it has been "clear-and-holding" the conquered territory, which in this case happens to be the whole planet. Just for fun, get out a map, and look at the history of invasions, bombings, and other "interventions" conducted by the West and its assorted client states since 1990. Also, once you're done with that, consider how, over the last fifteen years, most Western societies have been militarized, their citizens placed under constant surveillance, and an overall atmosphere of "emergency" fostered, and paranoia about "the threat of extremism" propagated by the corporate media. ..."
"... Short some sort of cataclysm, like an asteroid strike or the zombie apocalypse, or, you know, violent revolution, global capitalism will continue to restructure the planet to conform to its ruthless interests. The world will become increasingly "normal." The scourge of "extremism" and "terrorism" will persist, as will the general atmosphere of "emergency." There will be no more Trumps, Brexit referendums, revolts against the banks, and so on. Identity politics will continue to flourish, providing a forum for leftist activist types (and others with an unhealthy interest in politics), who otherwise might become a nuisance, but any and all forms of actual dissent from global capitalist ideology will be systematically marginalized and pathologized. ..."
"... C. J. Hopkins is an award-winning American playwright, novelist and satirist based in Berlin. His plays are published by Bloomsbury Publishing (UK) and Broadway Play Publishing (USA). His debut novel, ZONE 23 , is published by Snoggsworthy, Swaine & Cormorant. He can reached at cjhopkins.com or consentfactory.org . ..."
"... That is certainly what the geopolitical establishment is hoping for, but I remain skeptical of their ability to contain what forces they've used to balance the various camps of dissenting proles. They've painted themselves into a corner with non-white identity politics combined with mass immigration. The logical conclusion of where they're going is pogroms and none of the kleptocracy seem bold enough to try and stop this from happening. ..."
"... Germany is the last EU member state where an anti EU party entered parliament. In the last French elections four out of every ten voters voted on anti EU parties. In Austria the anti EU parties now have a majority. So if I were leading a big corporation, thriving by globalism, what also the EU is, I would be worried. ..."
"... This is a great article. The author's identification of "normality" & "extremism" as Capitalism's go-to concepts for social control is spot on accurate. That these terms can mean anything or nothing & are infinitely flexible is central to their power. ..."
Oct 20, 2017 | www.unz.com

Back in October of 2016, I wrote a somewhat divisive essay in which I suggested that political dissent is being systematically pathologized. In fact, this process has been ongoing for decades, but it has been significantly accelerated since the Brexit referendum and the Rise of Trump (or, rather, the Fall of Hillary Clinton, as it was Americans' lack of enthusiasm for eight more years of corporatocracy with a sugar coating of identity politics, and not their enthusiasm for Trump, that mostly put the clown in office.)

In the twelve months since I wrote that piece, we have been subjected to a concerted campaign of corporate media propaganda for which there is no historical precedent. Virtually every major organ of the Western media apparatus (the most powerful propaganda machine in the annals of powerful propaganda machines) has been relentlessly churning out variations on a new official ideological narrative designed to generate and enforce conformity. The gist of this propaganda campaign is that "Western democracy" is under attack by a confederacy of Russians and white supremacists, as well as "the terrorists" and other "extremists" it's been under attack by for the last sixteen years.

I've been writing about this campaign for a year now, so I'm not going to rehash all the details. Suffice to say we've gone from Russian operatives hacking the American elections to "Russia-linked" persons "apparently" setting up "illegitimate" Facebook accounts, "likely operated out of Russia," and publishing ads that are "indistinguishable from legitimate political speech" on the Internet. This is what the corporate media is presenting as evidence of "an unprecedented foreign invasion of American democracy," a handful of political ads on Facebook. In addition to the Russian hacker propaganda, since August, we have also been treated to relentless white supremacist hysteria and daily reminders from the corporate media that "white nationalism is destroying the West." The negligible American neo-Nazi subculture has been blown up into a biblical Behemoth inexorably slouching its way towards the White House to officially launch the Trumpian Reich.

At the same time, government and corporate entities have been aggressively restricting (and in many cases eliminating) fundamental civil liberties such as freedom of expression, freedom of the press, the right of assembly, the right to privacy, and the right to due process under the law. The justification for this curtailment of rights (which started in earnest in 2001, following the September 11 attacks) is protecting the public from the threat of "terrorism," which apparently shows no signs of abating. As of now, the United States has been in a State of Emergency for over sixteen years. The UK is in a virtual State of Emergency . France is now in the process of enshrining its permanent State of Emergency into law. Draconian counter-terrorism measures have been implemented throughout the EU . Not just the notorious American police but police throughout the West have been militarized . Every other day we learn of some new emergency security measure designed to keep us safe from "the terrorists," the "lone wolf shooters," and other "extremists."

Conveniently, since the Brexit referendum and unexpected election of Trump (which is when the capitalist ruling classes first recognized that they had a widespread nationalist backlash on their hands), the definition of "terrorism" (or, more broadly, "extremism") has been expanded to include not just Al Qaeda, or ISIS, or whoever we're calling "the terrorists" these days, but anyone else the ruling classes decide they need to label "extremists." The FBI has designated Black Lives Matter "Black Identity Extremists." The FBI and the DHS have designated Antifa "domestic terrorists."

Hosting corporations have shut down several white supremacist and neo-Nazi websites , along with their access to online fundraising. Google is algorithmically burying leftist news and opinion sources such as Alternet, Counterpunch, Global Research, Consortium News, and Truthout, among others. Twitter, Facebook, and Google have teamed up to cleanse the Internet of "extremist content," "hate speech," and whatever else they arbitrarily decide is inappropriate. YouTube, with assistance from the ADL (which deems pro-Palestinian activists and other critics of Israel "extremists") is censoring "extremist" and "controversial" videos , in an effort to "fight terrorist content online." Facebook is also collaborating with Israel to thwart "extremism," "incitement of violence," and whatever else Israel decides is "inflammatory."

In the UK, simply reading "terrorist content" is punishable by fifteen years in prison. Over three thousand people were arrested last year for publishing "offensive" and "menacing" material.

Whatever your opinion of these organizations and "extremist" persons is beside the point. I'm not a big fan of neo-Nazis, personally, but neither am I a fan of Antifa. I don't have much use for conspiracy theories, or a lot of the nonsense one finds on the Internet, but I consume a fair amount of alternative media, and I publish in CounterPunch, The Unz Review, ColdType, and other non-corporate journals.

I consider myself a leftist, basically, but my political essays are often reposted by right-wing and, yes, even pro-Russia blogs. I get mail from former Sanders supporters, Trump supporters, anarchists, socialists, former 1960s radicals, anti-Semites, and other human beings, some of whom I passionately agree with, others of whom I passionately disagree with. As far as I can tell from the emails, none of these readers voted for Clinton, or Macron, or supported the TPP, or the debt-enslavement and looting of Greece, or the ongoing restructuring of the Greater Middle East (and all the lovely knock-on effects that has brought us), or believe that Trump is a Russian operative, or that Obama is Martin Luther Jesus-on-a-stick.

What they share, despite their opposing views, is a general awareness that the locus of power in our post-Cold War age is primarily corporate, or global capitalist, and neoliberal in nature. They also recognize that they are being subjected to a massive propaganda campaign designed to lump them all together (again, despite their opposing views) into an intentionally vague and undefinable category comprising anyone and everyone, everywhere, opposing the hegemony of global capitalism, and its non-ideological ideology (the nature of which I'll get into in a moment).

As I wrote in that essay a year ago, "a line is being drawn in the ideological sand." This line cuts across both Left and Right, dividing what the capitalist ruling classes designate "normal" from what they label "extremist." The traditional ideological paradigm, Left versus Right, is disappearing (except as a kind of minstrel show), and is being replaced, or overwritten, by a pathological paradigm based upon the concept of "extremism."

* * *

Although the term has been around since the Fifth Century BC, the concept of "extremism" as we know it today developed in the late Twentieth Century and has come into vogue in the last three decades. During the Cold War, the preferred exonymics were "subversive," "radical," or just plain old "communist," all of which terms referred to an actual ideological adversary.

In the early 1990s, as the U.S.S.R. disintegrated, and globalized Western capitalism became the unrivaled global-hegemonic ideological system that it is today, a new concept was needed to represent the official enemy and its ideology. The concept of "extremism" does that perfectly, as it connotes, not an external enemy with a definable ideological goal, but rather, a deviation from the norm. The nature of the deviation (e.g., right-wing, left-wing, faith-based, and so on) is secondary, almost incidental. The deviation itself is the point. The "terrorist," the "extremist," the "white supremacist," the "religious fanatic," the "violent anarchist" these figures are not rational actors whose ideas we need to intellectually engage with in order to debate or debunk. They are pathological deviations, mutant cells within the body of "normality," which we need to identify and eliminate, not for ideological reasons, but purely in order to maintain "security."

A truly global-hegemonic system like contemporary global capitalism (the first of this kind in human history), technically, has no ideology. "Normality" is its ideology an ideology which erases itself and substitutes the concept of what's "normal," or, in other words, "just the way it is." The specific characteristics of "normality," although not quite arbitrary, are ever-changing. In the West, for example, thirty years ago, smoking was normal. Now, it's abnormal. Being gay was abnormal. Now, it's normal. Being transgender is becoming normal, although we're still in the early stages of the process. Racism has become abnormal. Body hair is currently abnormal. Walking down the street in a semi-fugue state robotically thumbing the screen of a smartphone that you just finished thumbing a minute ago is "normal." Capitalism has no qualms with these constant revisions to what is considered normal, because none of them are threats to capitalism. On the contrary, as far as values are concerned, the more flexible and commodifiable the better.

See, despite what intersectionalists will tell you, capitalism has no interest in racism, misogyny, homophobia, xenophobia, or any other despotic values (though it has no problem working with these values when they serve its broader strategic purposes). Capitalism is an economic system, which we have elevated to a social system. It only has one fundamental value, exchange value, which isn't much of a value, at least not in terms of organizing society or maintaining any sort of human culture or reverence for the natural world it exists in. In capitalist society, everything, everyone, every object and sentient being, every concept and human emotion, is worth exactly what the market will bear no more, no less, than its market price. There is no other measure of value.

Yes, we all want there to be other values, and we pretend there are, but there aren't, not really. Although we're free to enjoy parochial subcultures based on alternative values (i.e., religious bodies, the arts, and so on), these subcultures operate within capitalist society, and ultimately conform to its rules. In the arts, for example, works are either commercial products, like any other commodity, or they are subsidized by what could be called "the simulated aristocracy," the ivy league-educated leisure classes (and lower class artists aspiring thereto) who need to pretend that they still have "culture" in order to feel superior to the masses. In the latter case, this feeling of superiority is the upscale product being sold. In the former, it is entertainment, distraction from the depressing realities of living, not in a society at all, but in a marketplace with no real human values. (In the absence of any real cultural values, there is no qualitative difference between Gerhard Richter and Adam Sandler, for example. They're both successful capitalist artists. They're just selling their products in different markets.)

The fact that it has no human values is the evil genius of global capitalist society. Unlike the despotic societies it replaced, it has no allegiance to any cultural identities, or traditions, or anything other than money. It can accommodate any form of government, as long as it plays ball with global capitalism. Thus, the window dressing of "normality" is markedly different from country to country, but the essence of "normality" remains the same. Even in countries with state religions (like Iran) or state ideologies (like China), the governments play by the rules of global capitalism like everyone else. If they don't, they can expect to receive a visit from global capitalism's Regime Change Department (i.e., the US military and its assorted partners).

Which is why, despite the "Russiagate" hysteria the media have been barraging us with, the West is not going to war with Russia. Nor are we going to war with China. Russia and China are developed countries, whose economies are entirely dependent on global capitalism, as are Western economies. The economies of every developed nation on the planet are inextricably linked. This is the nature of the global hegemony I've been referring to throughout this essay. Not American hegemony, but global capitalist hegemony. Systemic, supranational hegemony (which I like to prefer "the Corporatocracy," as it sounds more poetic and less post-structural).

We haven't really got our minds around it yet, because we're still in the early stages of it, but we have entered an epoch in which historical events are primarily being driven, and societies reshaped, not by sovereign nation states acting in their national interests but by supranational corporations acting in their corporate interests. Paramount among these corporate interests is the maintenance and expansion of global capitalism, and the elimination of any impediments thereto. Forget about the United States (i.e., the actual nation state) for a moment, and look at what's been happening since the early 1990s. The US military's "disastrous misadventures" in Iraq, Libya, Afghanistan, Syria, and the former Yugoslavia, among other exotic places (which have obviously had nothing to do with the welfare or security of any actual Americans), begin to make a lot more sense.

Global capitalism, since the end of the Cold War (i.e, immediately after the end of the Cold War), has been conducting a global clean-up operation, eliminating actual and potential insurgencies, mostly in the Middle East, but also in its Western markets. Having won the last ideological war, like any other victorious force, it has been "clear-and-holding" the conquered territory, which in this case happens to be the whole planet. Just for fun, get out a map, and look at the history of invasions, bombings, and other "interventions" conducted by the West and its assorted client states since 1990. Also, once you're done with that, consider how, over the last fifteen years, most Western societies have been militarized, their citizens placed under constant surveillance, and an overall atmosphere of "emergency" fostered, and paranoia about "the threat of extremism" propagated by the corporate media.

I'm not suggesting there's a bunch of capitalists sitting around in a room somewhere in their shiny black top hats planning all of this. I'm talking about systemic development, which is a little more complex than that, and much more difficult to intelligently discuss because we're used to perceiving historico-political events in the context of competing nation states, rather than competing ideological systems or non-competing ideological systems, for capitalism has no competition . What it has, instead, is a variety of insurgencies, the faith-based Islamic fundamentalist insurgency and the neo-nationalist insurgency chief among them. There will certainly be others throughout the near future as global capitalism consolidates control and restructures societies according to its values. None of these insurgencies will be successful.

Short some sort of cataclysm, like an asteroid strike or the zombie apocalypse, or, you know, violent revolution, global capitalism will continue to restructure the planet to conform to its ruthless interests. The world will become increasingly "normal." The scourge of "extremism" and "terrorism" will persist, as will the general atmosphere of "emergency." There will be no more Trumps, Brexit referendums, revolts against the banks, and so on. Identity politics will continue to flourish, providing a forum for leftist activist types (and others with an unhealthy interest in politics), who otherwise might become a nuisance, but any and all forms of actual dissent from global capitalist ideology will be systematically marginalized and pathologized.

This won't happen right away, of course. Things are liable to get ugly first (as if they weren't ugly enough already), but probably not in the way we're expecting, or being trained to expect by the corporate media. Look, I'll give you a dollar if it turns out I'm wrong, and the Russians, terrorists, white supremacists, and other "extremists" do bring down "democracy" and launch their Islamic, white supremacist, Russo-Nazi Reich, or whatever, but from where I sit it looks pretty clear tomorrow belongs to the Corporatocracy.

C. J. Hopkins is an award-winning American playwright, novelist and satirist based in Berlin. His plays are published by Bloomsbury Publishing (UK) and Broadway Play Publishing (USA). His debut novel, ZONE 23 , is published by Snoggsworthy, Swaine & Cormorant. He can reached at cjhopkins.com or consentfactory.org .

Malla , October 20, 2017 at 12:56 pm GMT

Brilliant Article. But this has been going on for nearly a century or more. New York Jewish bankers fund the Bolshevik revolution which gets rid of the Romanov dynasty and many of the revolutionaries are not even Russian. What many people do not know is that many Western companies invested money in Bolshevik Russia as the Bolsheviks were speeding up the modernising of the country. What many do not know is that Feminism, destruction of families and traditional societies, homoerotic art etc . was forced on the new Soviet population in a shock therapy sort of way. The same process has been implemented in the West by the elites using a much slower 'boiling the frog' method using Cultural Marxism. The aim of the Soviet Union was to spread Communism around the World and hence bring about the One World Government as wished by the globalists. Their national anthem was the 'Internationale'. The globalists were funding revolutionary movements throughout Europe and other parts of the world. One such attempt went extremely wrong and that was in Germany where instead of the Communists coming in power, the National Socialists come in power which was the most dangerous challenge faced by the Zio/globalists/elite gang. The Globalists force a war using false flag events like Pearl Harbour etc and crushed the powers which challenged their rule i.e. Germany, Japan and Italy. That is why Capitalist USA funded Communist Soviet Union using the land lease program, which on the surface never makes any sense.

However in Soviet Russia, a power struggle leads to Stalin destroying the old Communist order of Lenin Trotsky. Trotsky and his supporters leave the Soviet Union. Many of the present Neo Cons are ex Trotskyites and hence the crazy hatred for Russia even today in American politics. These Neocons do not have any principles, they will use any ideology such as Communism, Islam, twisted Western Conservatism anything to attain their global goals.

Now with Stalin coming to power, things actually improved and the war with Hitler's Third Reich gave Stalin the chance to purge many old school globalist commies and then the Soviet Union went towards a more nationalist road. Jews slowly started losing their hold on power with Russians and eventually other Soviets gaining more powerful positions. These folks found the ugly modern art culture of the early Soviet period revolting and started a new movement where the messages of Socialism can be delivered with more healthy beautiful art and culture. This process was called 'Social Realism'. So strangely what happened was that the Capitalist Christian West was becoming more and more less traditional with time (Cultural Marxism/Fabien Socialism via media, education, Hollywood) while the Eastern block was slowly moving in an opposite direction. The CIA (which is basically the intelligence agency arm of Wall Street Bankers) was working to stop this 'Social Realism' movement.

These same globalists also funded Mao and pulled the rug under Chiang Kai Shek who they were supporting earlier. Yes, Mao was funded by the Rockerfeller/ Rothschild Cabal. Now, even if the Globalists were not happy with Stalin gaining power in the Soviet Union (they preferred the internationalist Trotskyites), they still found that they could work out with the Soviet Union. That is why during the 2nd World war, the USA supports the USSR with money and material, Stalin gets a facelift as 'friendly Uncle Joe' for the Western audience. Many Cossack families who had escaped the Soviet Union to the West were sent to their deaths after the War to the Soviet Union. Why? Mr. Eden of Britain who could not stand Hitler wanted a New World Order where they could work with the more murderous Soviet Union.

Now we have the cold war. What is not known is that behind the scenes at a higher level, the Americans and the Soviets cooperated with each other exchanging technology, basically the cold war was quite fake. But the Cold war gave the American government (basically the Globalists) to take American Tax payers hard earned money to fund many projects such as Star Wars programme etc All this was not needed, as a gentleman named Keenan had shown in his book that all the Americans needed to do was to make sure Japan, Germany and Britain did not fall to the Soviets, that's it. Thus trillions of American tax payer money would be saved. But obviously the Military Industrial Complex did not like that idea. Both the Soviet and the American governments got the excuse spend their people's hard money on weapons research as well as exchanging some of that technology in the back ground. It is during this period that the precursor to the Internet was already developed. Many of the technology we use today was already invented much earlier by government agencies but released to the people later.

Then we have the Vietnam war. Now you must realise that the Globalist government of America uses wars not only to change enemy societies but also the domestic society in the West. So during the Vietnam War, the US government using the alphabet agencies such as the CIA kick start the fake opposition hippie movements. The CIA not only drugged the Vietnamese population using drugs from the Golden Triangle but later released them on the home population in the USA and the West. This was all part of the Cultural Marxist plan to change or social engineer American/ Western society. Many institutes like the Travestock Institute were part of this process. For example one of the main hochos of the Cultural Marxism, a Mr. Aderno was closely related to the Beatles movement.

Several experiments was done on mind control such as MK Ultra, monarch programming, Edward Bernay's works etc Their aim was to destroy traditional Western society and the long term goal is a New World Order. Blacks for example were used as weapons against Whites at the same time the black social order was destroyed further via the media etc

Now, Nixon going to China was to start a long term (long planned) process to bring about Corporate Communism. Yes that is going to be economic system in the coming New World Order. China is the test tube, where the Worst of Communism and the Worst of Crony Capitalism be brought together as an experiment. As the Soviet Union was going in a direction, the globalist was not happy about (it was becoming more nationalist), they worked to bring the Soviet Union down and thus the Soviet experiment ended only to be continued in China.

NATO today is the core military arm of the globalists, a precursor to a One World Military Force. That explains why after the Warsaw pact was dismantled, NATO was not or why NATO would interfere in the Middle East which is far away from the Atlantic Ocean.

The coming Cashless society will finally lead to a moneyless or distribution society, in other words Communism, that is the long term plan.

My point is, many of the geo political events as well as social movements of the last century (feminism for example) were all planned for a long time and are not accidents. The coming technologies like the internet of things, 5G technology, Cashless society, biometric identification everywhere etc are all designed to help bring about the final aim of the globalists. The final aim is a one world government with Corporate ruled Communism where we, the worker bees will be living in our shitty inner city like ghetto homes eating GM plastic foods and listening to crappy music. That is the future they have planned for us. A inner city ghetto like place under Communism ruled by greedy evil corporates.

Seamus Padraig , October 20, 2017 at 5:13 pm GMT
Once again, C.J. nails it!
Issac , October 21, 2017 at 1:52 am GMT
"Short some sort of cataclysm, like an asteroid strike or the zombie apocalypse, or, you know, violent revolution, global capitalism will continue to restructure the planet to conform to its ruthless interests."

That is certainly what the geopolitical establishment is hoping for, but I remain skeptical of their ability to contain what forces they've used to balance the various camps of dissenting proles. They've painted themselves into a corner with non-white identity politics combined with mass immigration. The logical conclusion of where they're going is pogroms and none of the kleptocracy seem bold enough to try and stop this from happening.

peterAUS , October 21, 2017 at 9:25 pm GMT
@Issac

That is certainly what the geopolitical establishment is hoping for, but I remain skeptical of their ability to contain what forces they've used to balance the various camps of dissenting proles.

Agree.

Wizard of Oz , October 25, 2017 at 4:32 am GMT
@Malla

There must be some evidence for your assertions about the long term plans and aims of globalists and others if there is truth in them. The sort of people you are referring to would often have kept private diaries and certainly written many hundreds or thousands of letters. Can you give any references to such evidence of say 80 to 130 years ago?

edNels , October 25, 2017 at 4:46 am GMT
Finally an article that tells as it is! and the first comment is a great one too. It is right there to see for anybody with eyes screwed in right.
wayfarer , October 25, 2017 at 5:16 am GMT
"Three Things Cannot Be Long Hidden: the Sun, the Moon, and the Truth." – Buddha
ThereisaGod , October 25, 2017 at 5:54 am GMT
Regarding Trump being "a clown" the jury is out:

http://www.voltairenet.org/article198481.html

.. puzzling that the writer feels the need to virtue-signal by saying he "doesn't have much time for conspiracy theories" while condemning an absolutely massive conspiracy to present establishment lies as truth.

That is one of the most depressing demonstrations of the success of the ruling creeps that I have yet come across.

jilles dykstra , October 25, 2017 at 7:35 am GMT
Germany is the last EU member state where an anti EU party entered parliament. In the last French elections four out of every ten voters voted on anti EU parties. In Austria the anti EU parties now have a majority. So if I were leading a big corporation, thriving by globalism, what also the EU is, I would be worried.
animalogic , October 25, 2017 at 7:36 am GMT
"See, despite what intersectionalists will tell you, capitalism has no interest in racism, misogyny, homophobia, xenophobia, or any other despotic values (though it has no problem working with these values when they serve its broader strategic purposes). Capitalism is an economic system, which we have elevated to a social system. It only has one fundamental value, exchange value, which isn't much of a value, at least not in terms of organizing society or maintaining any sort of human culture or reverence for the natural world it exists in. In capitalist society, everything, everyone, every object and sentient being, every concept and human emotion, is worth exactly what the market will bear no more, no less, than its market price. There is no other measure of value."

This is a great article. The author's identification of "normality" & "extremism" as Capitalism's go-to concepts for social control is spot on accurate. That these terms can mean anything or nothing & are infinitely flexible is central to their power.

Mr Hopkins is also correct when he points out that Capitalism has essentially NO values (exchange value is a value, but also a mechanism). Again, Capitalism stands for nothing: any form of government is acceptable as long as it bows to neoliberal markets.

However, the author probably goes to far:

"Nor are we going to war with China. Russia and China are developed countries, whose economies are entirely dependent on global capitalism, as are Western economies. The economies of every developed nation on the planet are inextricably linked. This is the nature of the global hegemony I've been referring to throughout this essay. Not American hegemony, but global capitalist hegemony. Systemic, supranational hegemony".

Capitalism has no values: however the Masters of the capitalist system most certainly do: Capitalism is a means, the most thorough, profound means yet invented, for the attainment of that value which has NO exchange value: POWER.

Capitalism is a supranational hegemony – yet the Elites which control it, who will act as one when presented with any external threats to Capitalism itself, are not unified internally. Indeed, they will engage in cut throat competition, whether considered as individuals or nations or as particular industries.

US Imperialism is not imaginary, it is not a mere appearance or mirage of Capitalism, supranational or not. US Imperialism in essence empowers certain sets of Capitalists over other sets. No, they may not purposely endanger the System as a whole, however, that still leaves plenty of space for aggressive competition, up to & including war.

Imperialism is the political corollary to the ultimate economic goal of the individual Capitalist: Monopoly.

jilles dykstra , October 25, 2017 at 7:36 am GMT
@Malla

Read Howard Zinn, and discover that the USA always was the same since Columbus began.

m___ , October 25, 2017 at 9:00 am GMT
Psychologically daring (being no minstrel to corporatocracy nor irrelevant activism and other "religions" that endorse the current world global system as the overhead), rationally correct, relevant, core definition of the larger geo-world and deeper "ideological" grounding( in the case of capitalism the quite shallow brute forcing of greed as an incentive, as sterile a society as possible), and adhering to longer timelines of reality of planet earth. Perfectly captures the "essence" of the dynamics of our times.

The few come to the authors' through-sites by many venue-ways, that's where some of the corporocratic world, by sheer statistics wind up also. Why do they not get the overhand into molding the shallow into anything better in the long haul. No world leader, no intellectual within power circles, even within confined quarters, speaks to the absurdity of the ongoing slugging and maltering of global human?

The elites of now are too dumb to consider the planet exo-human as a limited resource. Immigration, migration, is the de facto path to "normalization" in the terms of the author. Reducing the world population is not "in" the capitalist ideology. A major weakness, or if one prefers the stake that pinches the concept of capitalism: more instead of quality principles.

The game changers, the possible game changers: eugenics and how they play out as to the elites ( understanding the genome and manipulating it), artificial intelligence ( defining it first, not the "Elon Musk" definition), and as a far outlier exo-planetary arguments.

Confront the above with the "unexpected", the not-human engineered possible events (astroids and the like, secondary effects of human induced toxicity, others), and the chances to get to the author's "dollar" and what it by then might mean is indeed tiny.

As to the content, one of the utmost relevant articles, it is "art" to condense such broad a world view into a few words, it requires a deep understanding foremost, left to wonder what can be grasped by most reading above. Some-one try the numbers?, "big data" anyone, they might turn out in favor of what the author undoubtedly absorbed as the nucleus of twenty-first thinking, strategy and engineering.

This kind of thinking and "Harvard" conventionality, what a distance.

Hans Vogel , October 25, 2017 at 9:24 am GMT
Great article, spot on. Indeed we are all at the mercy now of a relatively small clique of ruthless criminals who are served by armies of desensitized, stupid mercenaries: MBAs, politicians, thugs, college professors, "whorenalists", etc. I am afraid that the best answer to the current and future dystopia is what the Germans call "innere Emigration," to psychologically detach oneself from the contemporary world.

Thus, the only way out of this hellhole is through reading and thinking, which every self-respecting individual should engage in. Shun most contemporary "literature" and instead turn to the classics of European culture: there you will find all you need.

For an earlier and ever so pertinent analysis of the contemporary desert, I can heartily recommend Umberto Galimberti's I vizi capitali e i nuovi vizi (Milan, 2003).

m___ , October 25, 2017 at 9:28 am GMT
@Malla

And yes, another verbally strong expression of the in your face truth, though for so few to grasp. The author again has a deep understanding, if one prefers, it points to the venueway of coming to terms, the empirical pathway as to the understanding.

"Plasticky" society is my preferred term for designating the aberrance that most (within the elites), the rest who cares (as an historical truth), do not seem to identify as proper cluelessness in the light of longer timelines. The current global ideology, religion of capitalism-democracy is the equivalent of opportunistic naval staring of the elites. They are not aware that suffocation will irreversibly affect oneself. Not enough air is the equivalent of no air in the end.

jacques sheete , October 25, 2017 at 11:12 am GMT

The negligible American neo-Nazi subculture has been blown up into a biblical Behemoth inexorably slouching its way towards the White House to officially launch the Trumpian Reich.

While the above is true, I hope most folks understand that the basic concept of controlling people through fear is nothing new. The much vaunted constitution was crammed down our collective throats by the rich scoundrels of the time in the words of more than one anti-federalist through the conjuring of quite a set of threats, all bogus.

I address my most fervent prayer to prevent our adopting a system destructive to liberty We are told there are dangers, but those dangers are ideal; they cannot be demonstrated.

- Patrick Henry, Foreign Wars, Civil Wars, and Indian Wars -- Three Bugbears, June 5, 7, and 9, 1788

https://www.infoplease.com/homework-help/united-states-documents/patrick-henry-foreign-wars-civil-wars-and-indian-wars-three

Bottom line: Concentrated wealth and power suck.The USA was ruled by a plutoligarchy from its inception, and the material benefits we still enjoy have occurred not because of it but despite it.

Jake , October 25, 2017 at 11:28 am GMT
It is the nightmare world of Network come to life.
jacques sheete , October 25, 2017 at 12:29 pm GMT
For today's goofy "right wing" big business "conservatives" who think the US won WW2, I got news for you. Monopoly capitalism, complete with increasing centralization of the economy and political forces were given boosts by both world wars.

It was precisely in reaction to their impending defeat at the hands of the competitive storms of the market tha t business turned, increasingly after the 1900′s, to the federal government for aid and protection. In short, the intervention by the federal government was designed, not to curb big business monopoly for the sake of the public weal, but to create monopolies that big business (as well as trade associations smaller business) had not been able to establish amidst the competitive gales of the free market. Both Left and Right have been persistently misled by the notion that intervention by the government is ipso facto leftish and anti-business. Hence the mythology of the New-Fair Deal-as-Red that is endemic on the Right. Both the big businessmen, led by the Morgan interests, and Professor Kolko almost uniquely in the academic world, have realized that monopoly privilege can only be created by the State and not as a result of free market operations.

-Murray N. Rothbard, Rothbard Left and Right: The Prospects for Liberty, [Originally appeared in Left and Right, Spring 1965, pp. 4-22.]

https://mises.org/library/left-and-right-prospects-liberty

jacques sheete , October 25, 2017 at 12:37 pm GMT

A truly global-hegemonic system like contemporary global capitalism (the first of this kind in human history), technically, has no ideology.

Please change that to" contemporary state-sponsored global capitalism

Malla , October 25, 2017 at 1:58 pm GMT
@Wizard of Oz

It was all about connecting the dots really. Connecting the dots of too many books I have gobe through and videos I have seen. Too many to list here.

You can get a lot of info from the book 'Tragedy and Hope' by Carroll Quigley though he avoids mantioning Jews and calls it the Anglo American establishment, Anthony Sutton however I completely disagree about funding of the Third Reich but he does talk a lot about the secret relationship between the USA and the USSR, Revilo Oliver etc.. etc Well you could read the Protocols. Now if you think that the protocols was a forgery, you gotta see this, especially the last part.

Also check this out

Also check out what this Wall Street guy realised in his career.

Also this 911 firefighter, what he found out after some research

Miro23 , October 25, 2017 at 2:18 pm GMT

Capitalism is an economic system, which we have elevated to a social system. It only has one fundamental value, exchange value, which isn't much of a value, at least not in terms of organizing society or maintaining any sort of human culture or reverence for the natural world it exists in. In capitalist society, everything, everyone, every object and sentient being, every concept and human emotion, is worth exactly what the market will bear no more, no less, than its market price. There is no other measure of value.

This looks like the "financialization" of society with Citizens morphing into Consumers.

And it's worth saying that Citizenship and Consumership are completely different concepts:

Citizenship – Dictionary.com

1. – the state of being vested with the rights, privileges, and duties of a citizen.

2. – the character of an individual viewed as a member of society;behavior in terms of the duties, obligations, and functions of a citizen:

an award for good citizenship.

The Consumer – Dictionary.com

1. a person or thing that consumes.

2. Economics. a person or organization that uses a commodity or service.

A good citizen can then define themselves in a rather non-selfish, non-financial way as for example, someone who respects others, contributes to local decisions (politically active), gains respect through work and ethical standards etc.

A good consumer on the other hand, seems to be more a self-idea, essentially someone who buys and consumes a lot (financial idea), has little political interest – and probably defines themselves (and others) by how they spend money and what they own.

It's clear that US, and global capitalism, prefers active consumers over active citizens, and maybe it explains why the US has such a worthless and dysfunctional political process.

jacques sheete , October 25, 2017 at 2:21 pm GMT

It was all about connecting the dots really.

Some folks are completely unable to connect the dots even when spoon fed the evidence. You'll note that some, in risible displays of quasi-intellectual arrogance, make virtually impossible demands for proof, none of which they'll ever accept. Rather, they flock to self aggrandizing mythology like flies to fresh sewage which the plutoligarchy produces nearly infinitely.

Your observations appear pretty accurate and self justifying I'd say.

daniel le mouche , October 25, 2017 at 2:23 pm GMT
@Wizard of Oz

I can, Wiz.

Look up the film director Aaron Russo (recently deceased), discussing how David Rockefeller tried to bring him over to the dark side. Rockefeller discussed for example the women's movement, its engineering. Also, there's Aldous Huxley's speech The Ultimate Revolution, on how drugs are the final solution to rabble troubles–we will think we're happy even in the most appalling societal conditions.

daniel le mouche , October 25, 2017 at 2:49 pm GMT
@jilles dykstra

I can only say Beware of Zinn, best friend of Chomsky, endlessly tauted by shysters like Amy Goodman and Counterpunch. Like all liberal gatekeepers, he wouldn't touch 911. I saw him speak not long before he died, and when questioned on this he said, 'That was a long time ago, let's talk about now.'

This from a professed historian, and it was only 7 years after 911. He seemed to have the same old Jewish agenda, make Europeans look really bad at all times. He was always on message, like the shyster Chomsky. Sincerely probing for the truth was not part of his agenda; his truths were highly selective, and such a colossal event as 911 concerned him not at all, with the ensuing wars, Patriot Acts, bullshit war on Terror, etc etc

joe webb , October 25, 2017 at 4:17 pm GMT
Say what???

" capitalism has no interest in racism, misogyny, homophobia, xenophobia, or any other despotic values (though it has no problem working with these values when they serve its broader strategic purposes). Capitalism is an economic system, which we have elevated to a social system."

This is a typical Left Lie. Capitalism in its present internationalist phase absolutely requires Anti-Racism to lubricate sales uh, internationally and domestically. We are all Equal.

Then, the ticking-off of the rest of the bad isms, and labeling them 'despotic' is another Leftwing and poetic attack on more or less all of us white folks, who have largely invented Capitalism, from a racialist point of view.

"Poetic" because it is an emotional appeal, not a rational argument. The other 'despotisms' are not despotic, unless you claim, like I do that racial personalities are more, or less despotic, with Whites being the least despotic. The Left totalitarian thinks emotional despotism's source is political or statist. It are not. However, Capitalism has been far less despotic than communism, etc.

Emotional Despotism is part of who Homo Sapiens is, and this emotional despotism is not racially equal. Whites are the least despotic, and have organized law and rules to contain such despotism.

Systems arise naturally from the Human Condition, like it or not. The attempt here is to sully the Capitalist system, and that is all it is. This article itself is despotic propaganda.

Arguably, human nature is despotic, and White civilization has attempted to limit our despotic nature.

This is another story.

As for elevating capitalism into a 'social system' .this is somewhat true. However, that is not totally bad, as capitalism delivers the goods, which is the first thing, after getting out of bed.

The second thing, is having a conformable social environment, and that is where racial accord enters.

People want familiar and trustworthy people around them and that is just the way human nature is genetic similarity, etc.

Beyond that, the various Leftie complaints-without-end, are also just the way it is. And yes they can be addressed and ameliorated to some degree, but human nature is not a System to be manipulated, even thought the current crop of scientistic lefties talk a good storyline about epigenetics and other Hopes, false of course, like communist planning which makes its first priority, Social Change which is always despotic. Society takes care of itself, especially racial society.

As Senator Vail said about the 1924 Immigration Act which held the line against Immigration, "if there is going to be any changing being done, we will do it and nobody else." That 'we' was a White we.

Capitalism must be national. International capital is tyranny.

Joe Webb

Wally , Website October 25, 2017 at 4:24 pm GMT
@jacques sheete

Bingo.

Some agendas require the "state sponsored" part to be hidden.

Wally , Website October 25, 2017 at 4:30 pm GMT
@Malla

"How Big Oil Conquered the World"?

That's called 'taking the bait.'

US oil companies make about five cents off a single gallon of gasoline, on the other hand US Big Government taxes on a single gallon are around seventy-one cents for US states & rising, the tax is now $1.00 per gallon for CA.

IOW, greedy US governments make fourteen to twenty times what oil companies make, and it is the oil companies who make & deliver the vital product to the marketplace.

And that is just in the US. Have a look at Europe's taxes. My, my.

It's Big Government, not Big Oil.

jacques sheete , October 25, 2017 at 5:12 pm GMT
@Wally

Some agendas require the "state sponsored" part to be hidden.

That is part of the reason why the constitutional convention was held in secret as well.

The cunning connivers who ram government down our throats don't like their designs exposed, and it's an old trick which nearly always works.

Here's Aristophanes on the subject. His play is worth a read. Short and great satire on the politicians of the day.

SAUSAGE-SELLER

No, Cleon, little you care for his reigning in Arcadia, it's to pillage and impose on the allies at will that you reckon; y ou wish the war to conceal your rogueries as in a mist, that Demos may see nothing of them, and harassed by cares, may only depend on yourself for his bread. But if ever peace is restored to him, if ever he returns to his lands to comfort himself once more with good cakes, to greet his cherished olives, he will know the blessings you have kept him out of, even though paying him a salary; and, filled with hatred and rage, he will rise, burning with desire to vote against you. You know this only too well; it is for this you rock him to sleep with your lies.

- Aristophanes, The Knights, 424 BC

http://classics.mit.edu/Aristophanes/knights.html

jilles dykstra , October 25, 2017 at 5:18 pm GMT
@daniel le mouche

The first loyalty of jews is supposed to be to jews.

Norman Finkelstein is called a traitor by jews, the Dutch jew Hamburger is called a traitor by Dutch jews, he's the chairman of 'Een ander joodse geluid', best translated by 'another jewish opinion', the organisation criticises Israel.

Jewish involvement in Sept 11 seems probable, the 'dancing Israelis', the assertion that most jews working in the Twin Towers at the time were either sick or took a day off, the fact that the Towers were jewish property, ready for a costly demolition, much abestos in the buildings, thus the 'terrorist' act brought a great profit.

Can one expect a jew to expose things like this ?

On his book, I did not find inconsistencies with literature I already knew.

The merit of the book is listing many events that affected common people in the USA, and destroying the myth that 'in the USA who is poor has only himself to blame'.

This nonsense becomes clear even from the diaries of Harold L Ickes, or from Jonathan Raban Bad Land, 1997.

As for Zinn's criticism of the adored USA constitution, I read that Charles A Beard already in 1919 resigned because he also criticised this constitution.

jilles dykstra , October 25, 2017 at 5:20 pm GMT
@Wally

Indeed, in our countries about half the national income goes to the governments by taxes, this is the reason a country like Denmark is the best country to live in.

[Oct 13, 2017] Sympathy for the Corporatocracy by C. J. Hopkins

Highly recommended!
Biting satire...
Notable quotes:
"... The Tonight Show ..."
"... Now, despite what the Russian propagandists will tell you, this recent outbreak of fascistic behavior has nothing whatsoever to do with these people's frustration with neoliberalism or the supranational Corporatocracy that has been expanding its global empire with total impunity for twenty-five years. And it definitely has nothing at all to do with supranational political unions, or the supersession of national sovereignty by corporate-concocted "free trade" agreements, or the relentless privatization of everything, or the fear that a lot of people have that their cultures are being gradually erased and replaced with a globalized, corporate-friendly, multicultural, market-based culture, which is merely a simulation of culture, and which contains no actual cultural values (because exchange value is its only operative value), but which sells the empty signifiers of their eviscerated cultural values back to them so they can wear their "identities" like designer brands as they hunch together in silence at Starbucks posting pictures of themselves on Facebook. ..."
"... No, this discontent with the political establishment, corporate elites, and the mainstream media has nothing to do with any of that. It's not like global Capitalism, following the collapse of the U.S.S.R. (its last external ideological adversary), has been restructuring the entire planet in accordance with its geopolitical interests, or doing away with national sovereignty, and other nationalistic concepts that no longer serve a useful purpose in a world where a single ideological system (one backed by the most fearsome military in history) reigns completely unopposed. If that were the case, well, it might behoove us to question whether this outbreak of Nazism, racism, and other forms of "hate," was somehow connected to that historical development and maybe even try to articulate some sort of leftist analysis of that. ..."
"... a world where a single ideology rules the planet unopposed from without ..."
"... Brexit is about Britons who want their country back, a movement indeed getting stronger and stronger in EU member states, but ignored by the ruling 'elites'. ..."
"... A lot of these so called "revolutions" are fomented by the elite only to be subverted and perverted by them in the end. They've had a lot of practice co-opting revolutions and independence movements. ..."
"... "Independence" is now so fashionable (as was Communism among the "elite" back in the '30s), that they are even teaching and fostering independence to kids in kindergarten here in the US. That strikes me as most amusing. Imagine "learning" independence in state run brainwashing factories. ..."
Oct 13, 2017 | www.unz.com

Well all right, let's review what happened, or at least the official version of what happened. Not Hillary Clinton's version of what happened, which Jeffrey St. Clair so incisively skewered , but the Corporatocracy's version of what happened, which overlaps with but is even more ridiculous than Clinton's ridiculous version. To do that, we need to harken back to the peaceful Summer of 2016, (a/k/a the "Summer of Fear" ), when the United States of America was still a shiny city upon a hill whose beacon light guided freedom-loving people, the Nazis were still just a bunch of ass clowns meeting in each other's mother's garages, and Russia was, well Russia was Russia.

Back then, as I'm sure you'll recall, Western democracy, was still primarily being menaced by the lone wolf terrorists, for absolutely no conceivable reason, apart from the terrorists' fanatical desire to brutally murder all non-believers. The global Russo-Nazi Axis had not yet reared its ugly head. President Obama, who, during his tenure, had single-handedly restored America to the peaceful, prosperous, progressive paradise it had been before George W. Bush screwed it up, was on The Tonight Show with Jimmy Fallon slow jamming home the TPP . The Wall Street banks had risen from the ashes of the 2008 financial crisis, and were buying back all the foreclosed homes of the people they had fleeced with subprime mortgages. American workers were enjoying the freedom and flexibility of the new gig economy. Electioneering in the United States was underway, but it was early days. It was already clear that Donald Trump was literally the Second Coming of Hitler , but no one was terribly worried about him yet. The Republican Party was in a shambles. Neither Trump nor any of the other contenders had any chance of winning in November. Nor did Sanders, who had been defeated, fair and square, in the Democratic primaries, mostly because of his racist statements and crazy, quasi-Communist ideas. Basically, everything was hunky dory. Yes, it was going to be terribly sad to have to bid farewell to Obama, who had bailed out all those bankrupt Americans the Wall Street banks had taken to the cleaners, ended all of Bush and Cheney's wars, closed down Guantanamo, and just generally served as a multicultural messiah figure to affluent consumers throughout the free world, but Hope-and-Change was going to continue. The talking heads were all in agreement Hillary Clinton was going to be President, and there was nothing anyone could do about it.

Little did we know at the time that an epidemic of Russo-Nazism had been festering just beneath the surface of freedom-loving Western societies like some neo-fascist sebaceous cyst. Apparently, millions of theretofore more or less normal citizens throughout the West had been infected with a virulent strain of Russo-Nazi-engineered virus, because they simultaneously began exhibiting the hallmark symptoms of what we now know as White Supremacist Behavioral Disorder, or Fascist Oppositional Disorder (the folks who update the DSM are still arguing over the official name). It started with the Brexit referendum, spread to America with the election of Trump, and there have been a rash of outbreaks in Europe, like the one we're currently experiencing in Germany . These fascistic symptoms have mostly manifest as people refusing to vote as instructed, and expressing oppressive views on the Internet, but there have also been more serious crimes, including several assaults and murders perpetrated by white supremacists (which, of course, never happened when Obama was President, because the Nazis hadn't been "emboldened" yet).

Now, despite what the Russian propagandists will tell you, this recent outbreak of fascistic behavior has nothing whatsoever to do with these people's frustration with neoliberalism or the supranational Corporatocracy that has been expanding its global empire with total impunity for twenty-five years. And it definitely has nothing at all to do with supranational political unions, or the supersession of national sovereignty by corporate-concocted "free trade" agreements, or the relentless privatization of everything, or the fear that a lot of people have that their cultures are being gradually erased and replaced with a globalized, corporate-friendly, multicultural, market-based culture, which is merely a simulation of culture, and which contains no actual cultural values (because exchange value is its only operative value), but which sells the empty signifiers of their eviscerated cultural values back to them so they can wear their "identities" like designer brands as they hunch together in silence at Starbucks posting pictures of themselves on Facebook.

No, this discontent with the political establishment, corporate elites, and the mainstream media has nothing to do with any of that. It's not like global Capitalism, following the collapse of the U.S.S.R. (its last external ideological adversary), has been restructuring the entire planet in accordance with its geopolitical interests, or doing away with national sovereignty, and other nationalistic concepts that no longer serve a useful purpose in a world where a single ideological system (one backed by the most fearsome military in history) reigns completely unopposed. If that were the case, well, it might behoove us to question whether this outbreak of Nazism, racism, and other forms of "hate," was somehow connected to that historical development and maybe even try to articulate some sort of leftist analysis of that.

This hypothetical leftist analysis might want to focus on how Capitalism is fundamentally opposed to Despotism, and is essentially a value-decoding machine which renders everything and everyone it touches essentially valueless interchangeable commodities whose worth is determined by market forces, rather than by societies and cultures, or religions, or other despotic systems (wherein values are established and enforced arbitrarily, by the despot, the church, or the ruling party, or by a group of people who share an affinity and decide they want to live a certain way). This is where it would get sort of tricky, because it (i.e., this hypothetical analysis) would have to delve into the history of Capitalism, and how it evolved out of medieval Despotism, and how it has been decoding despotic values for something like five hundred years. This historical delving (which would probably be too long for people to read on their phones) would demonstrate how Capitalism has been an essentially progressive force in terms of getting us out of Despotism (which, for most folks, wasn't very much fun) by fomenting bourgeois revolutions and imposing some semblance of democracy on societies. It would follow Capitalism's inexorable advance all the way up to the Twentieth Century, in which its final external ideological adversary, fake Communism, suddenly imploded, delivering us to the world we now live in a world where a single ideology rules the planet unopposed from without , and where any opposition to that global ideology can only be internal, or insurgent, in nature (e.g, terrorism, extremism, and so on). Being a hypothetical leftist analysis, it would, at this point, need to stress that, despite the fact that Capitalism helped deliver us from Despotism, and improved the state of society generally (compared to most societies that preceded it), we nonetheless would like to transcend it, or evolve out of it toward some type of society where people, and everything else, including the biosphere we live in, are not interchangeable, valueless commodities exchanged by members of a global corporatocracy who have no essential values, or beliefs, or principles, other than the worship of money. After having covered all that, we might want to offer more a nuanced view of the current neo-nationalist reaction to the Corporatocracy's ongoing efforts to restructure and privatize the rest of the planet. Not that we would support this reaction, or in any way refrain from calling neo-nationalism what it is (i.e., reactionary, despotic, and doomed), but this nuanced view we'd hypothetically offer, by analyzing the larger sociopolitical and historical forces at play, might help us to see the way forward more clearly, and who knows, maybe eventually propose some kind of credible leftist alternative to the "global neoliberalism vs. neo-nationalism" double bind we appear to be hopelessly stuck in at the moment.

Luckily, we don't have to do that (i.e., articulate such a leftist analysis of any such larger historical forces). Because there is no corporatocracy not really. That's just a fake word the Russians made up and are spreading around on the Internet to distract us while the Nazis take over. No, the logical explanation for Trump, Brexit, and anything else that threatens the expansion of global Capitalism, and the freedom, democracy, and prosperity it offers, is that millions of people across the world, all at once, for no apparent reason, woke up one day full-blown fascists and started looking around for repulsive demagogues to swear fanatical allegiance to. Yes, that makes a lot more sense than all that complicated stuff about history and hegemonic ideological systems, which is probably just Russian propaganda anyway, in which case there is absolutely no reason to read any boring year-old pieces, like this one in The European Financial Review , or this report by Corporate Watch , from way back in the year 2000, about the rise of global corporate power.

So, apologies for wasting your time with all that pseudo-Marxian gobbledygook. Let's just pretend this never happened, and get back to more important matters, like statistically proving that Donald Trump got elected President because of racism, misogyny, transphobia, xenophobia, or some other type of behavioral disorder, and pulling down Confederate statues, or kneeling during the National Anthem, or whatever happens to be trending this week. Oh, yeah, and debating punching Nazis, or people wearing MAGA hats. We definitely need to sort all that out before we can move ahead with helping the Corporatocracy remove Trump from office, or at least ensure he remains surrounded by their loyal generals, CEOs, and Goldman Sachs guys until the next election. Whatever we do, let's not get distracted by that stuff I just distracted you with. I know, it's tempting, but, given what's at stake, we need to maintain our laser focus on issues related to identity politics, or else well, you know, the Nazis win.

C. J. Hopkins is an award-winning American playwright, novelist and satirist based in Berlin. His plays are published by Bloomsbury Publishing (UK) and Broadway Play Publishing (USA). His debut novel, ZONE 23 , is published by Snoggsworthy, Swaine & Cormorant. He can reached at cjhopkins.com or consentfactory.org .

jilles dykstra, October 13, 2017 at 3:15 pm GMT

Yesterday evening on RT a USA lady, as usual forgot the name, spoke about the USA. In a matter of fact tone she said things like 'they (Deep State) have got him (Trump) in the box'.

They, Deep State again, are now wondering if they will continue to try to control the world, or if they should stop the attempt, and retreat into the USA.
Also as matter of fact she said 'the CIA has always been the instrument of Deep State, from Kenndy to Nine Eleven'.

Another statement was 'no president ever was in control'.

How USA citizens continue to believe they live in a democracy, I cannot understand.

Yesterday the intentions of the new Dutch government were made public, alas most Dutch also dot not see that the Netherlands since 2005 no longer is a democracy, just a province of Brussels.

You can fool all people .

Che Guava, October 13, 2017 at 4:22 pm GMT

@jilles dykstra

Jilles,

I am thinking you take the article too literally.

jacques sheete, October 13, 2017 at 4:30 pm GMT

Brexit is about Britons who want their country back, a movement indeed getting stronger and stronger in EU member states, but ignored by the ruling 'elites'.

No doubt many do want their country back, but what concerns me is that all of a sudden we have the concept of "independence" plastered all over the place. Such concepts don't get promoted unless the ruling elites see ways to turn those sentiments to their favor.

A lot of these so called "revolutions" are fomented by the elite only to be subverted and perverted by them in the end. They've had a lot of practice co-opting revolutions and independence movements. (And everything else.)

"Independence" is now so fashionable (as was Communism among the "elite" back in the '30s), that they are even teaching and fostering independence to kids in kindergarten here in the US. That strikes me as most amusing. Imagine "learning" independence in state run brainwashing factories.

Does anyone else smell a rat or two?

Anon-og , October 13, 2017 at 5:16 pm GMT

"Now, despite what the Russian propagandists will tell you, this recent outbreak of fascistic behavior has nothing whatsoever to do with these people's frustration with neoliberalism or the supranational Corporatocracy that has been expanding its global empire with total impunity for twenty-five years. And it definitely has nothing at all to do with supranational political unions, or the supersession of national sovereignty by corporate-concocted "free trade" agreements, or the relentless privatization of everything, or the fear that a lot of people have that their cultures are being gradually erased and replaced with a globalized, corporate-friendly, multicultural, market-based culture, which is merely a simulation of culture, and which contains no actual cultural values (because exchange value is its only operative value), but which sells the empty signifiers of their eviscerated cultural values back to them so they can wear their "identities" like designer brands as they hunch together in silence at Starbucks posting pictures of themselves on Facebook."

Very impressed with this article, never really paid attention to CJ's articles but that is now changing!

[Oct 10, 2017] The US Economy: Explaining Stagnation and Why It Will Persist by Thomas I. Palley

Highly recommended!
The paper is two years old. Looks how his prediction fared. Stagnation is still with us althouth low oil prices lifted all the boats. But this period is coming to the end.
Notable quotes:
"... The financial crisis that erupted in 2008 challenged the foundations of orthodox economic theory and policy. At its outset, orthodox economists were stunned into silence as evidenced by their inability to answer the Queen of England's simple question (November 5th, 2008) to the faculty of the London School of Economics as to why no one foresaw the crisis. ..."
"... Six years later, orthodoxy has fought back and largely succeeded in blocking change of thought and policy. The result has been economic stagnation ..."
"... Perspective # 3 is the progressive position which is rooted in Keynesian economics and can be labeled the "destruction of shared prosperity hypothesis" ..."
"... It is identified with the New Deal wing of the Democratic Party and the labor movement, but it has no standing within major economics departments owing to their suppression of alternatives to economic orthodoxy. ..."
"... However, financial excess is just an element of the crisis and the full explanation is far deeper than just financial market regulatory failure According to the Keynesian destruction of shared prosperity hypothesis, the deep cause is generalized economic policy failure rooted in the flawed neoliberal economic paradigm that was adopted in the late 1970s and early 1980s. ..."
"... globalization reconfigured global production by transferring manufacturing from the U.S. and Europe to emerging market economies. This new global division of labor was then supported by having U.S. consumers serve as the global economy's buyer of first and last resort, which explains the U.S. trade deficit and the global imbalances problem. ..."
"... This new global division of labor inevitably created large trade deficits that also contributed to weakening the aggregate demand (AD)generation process by causing a hemorrhage of spending on imports (Palley, 2015) ..."
"... Finance does this through three channels. First, financial markets have captured control of corporations via enforcement of the shareholder value maximization paradigm of corporate governance. Consequently, corporations now serve financial market interests along with the interests of top management. Second, financial markets in combination with corporations lobby politically for the neoliberal policy mix. ..."
"... Third, financial innovation has facilitated and promoted financial market control of corporations via hostile take-overs, leveraged buyouts and reverse capital distributions. Financial innovation has therefore been key for enforcing Wall Street's construction of the shareholder value maximization paradigm. ..."
"... The second vital role of finance is the support of AD. The neoliberal model gradually undermined the income and demand generation process, creating a growing structural demand gap. The role of finance was to fill that gap. Thus, within the U.S., deregulation, financial innovation, speculation, and mortgage lending fraud enabled finance to fill the demand gap by lending to consumers and by spurring asset price inflation ..."
"... this AD generation role of finance was an unintended consequence and not part of a grand plan. Neoliberal economists and policymakers did not realize they were creating a demand gap, but their laissez-faire economic ideology triggered financial market developments that coincidentally filled the demand gap. ..."
"... the financial process they unleashed was inevitably unstable and was always destined to hit the wall. There are limits to borrowing and limits to asset price inflation and all Ponzi schemes eventually fall apart. ..."
"... the long duration of financial excess made the collapse far deeper when it eventually happened. It has also made escaping the after-effects of the financial crisis far more difficult as the economy is now burdened by debts and destroyed credit worthiness. That has deepened the proclivity to economic stagnation. ..."
"... The neoliberal labor market flexibility agenda explicitly attacks unions and works to shift income to wealthier households. ..."
"... That model inevitably produces stagnation because it produces a structural demand shortage via (i) its impact on income distribution, and (ii) via its design of globalization which generates massive trade deficits, wage competition and off-shoring of jobs and investment. In terms of the three-way contest between the government failure hypothesis, the market failure hypothesis and the destruction of shared prosperity hypothesis, the economic policy debate during the Great Recession was cast as exclusively between government failure and market failure. ..."
"... This attitude to fiscal policy reflects the dominance within the Democratic Party of "Rubinomics", the Wall Street view associated with former Treasury Secretary Robert Rubin, that government spending and budget deficits raise real interest rates and thereby lower growth. According to that view, the US needs long-term fiscal austerity to offset Social Security and Medicare Side-by-side with the attempt to reflate the economy, the Obama administration also pushed for major overhaul and tightening of financial sector regulation via the Dodd- Frank Act (2010). ..."
"... The Obama administration's softcore neoliberalism would have likely generated stagnation by itself, but the prospect has been further strengthened by Republicans. ..."
"... The Obama administration was to provide fiscal stimulus to jump start the economy; the Fed would use QE to blow air back into the asset price bubble; the Dodd-Frank Act (2010) would stabilize financial markets; and globalization would be deepened by further NAFTA-styled international agreements. This is a near-identical model to that which failed so disastrously. Consequently, stagnation is the logical prognosis. ..."
"... Consequently, the economy is destined to repeat the patterns of the 1990s and 2000s. However, the US economy has also experienced almost twenty more years of neoliberalism which has left its economic body in worse health than the 1990s. That means the likelihood of delivering another bubble-based boom is low and stagnation tendencies will likely reassert themselves after a shorter and weaker period of expansion ..."
Apr 10, 2015 | www.thomaspalley.com

Abstract

This paper examines the major competing interpretations of the economic crisis in the US and explains the rebound of neoliberal orthodoxy. It shows how US policymakers acted to stabilize and save the economy, but failed to change the underlying neoliberal economic policy model. That failure explains the emergence of stagnation, which is likely to endure

Current economic conditions in the US smack of the mid-1990s. The 1990s expansion proved unsustainable and so will the current modest expansion. However, this time it is unlikely to be followed by financial crisis because of the balance sheet cleaning that took place during the last crisis

Revised 1: This paper has been prepared for inclusion in Gallas, Herr, Hoffer and Scherrer (eds.), Combatting Inequality: The Global North and South , Rouledge, forthcoming in 2015.

The crisis and the resilience of neoliberal economic orthodoxy

The financial crisis that erupted in 2008 challenged the foundations of orthodox economic theory and policy. At its outset, orthodox economists were stunned into silence as evidenced by their inability to answer the Queen of England's simple question (November 5th, 2008) to the faculty of the London School of Economics as to why no one foresaw the crisis.

Six years later, orthodoxy has fought back and largely succeeded in blocking change of thought and policy. The result has been economic stagnation

This paper examines the major competing interpretations of the economic crisis in the US and explains the rebound of neoliberal orthodoxy. It shows how US policymakers acted to stabilize and save the economy, but failed to change the underlying neoliberal economic policy model.

That failure explains the emergence of stagnation in the US economy and stagnation is likely to endure.

Current economic conditions in the US smack of the mid-1990s. The 1990s expansion proved unsustainable and so will the current modest expansion. However, this time it is unlikely to be followed by financial crisis because of the balance sheet cleaning that took place during the last crisis.

Competing explanations of the crisis

The Great Recession, which began in December 2007 and includes the financial crisis of 2008, is the deepest economic downturn in the US since the World War II. The depth of the downturn is captured in Table 1 which shows the decline in GDP and the peak unemployment rate. The recession has the longest duration and the decline in GDP is the largest. The peak unemployment rate was slightly below the peak rate of the recession of 1981-82. However, this ignores the fact that the labor force participation rate fell in the Great Recession (i.e. people left the labor force and were not counted as unemployed) whereas it increased in the recession of 1981-82 (i.e. people entered the labor force and were counted as unemployed).

Table 1. Alternative measures of the depth of US recessions.

... ... ...

Table 2 provides data on the percent change in private sector employment from business cycle peak to trough. The 7.6 percent loss of private sector jobs in the Great Recession dwarfs other recessions, providing another measure of its depth and confirming it extreme nature. 2 Over the course of the 1981-82 labor force participation rose from 63.8 percent to 64.2 percent, thereby likely increasing the unemployment rate. In contrast, over the course of the Great Recession the labor force participation rate fell from 66.0 percent to 65.7 percent, thereby likely decreasing the unemployment. The decrease in the labor force participation rate was even sharper for prime age (25 – 54 years old) workers, indicating that the decrease in the overall participation rate was not due to demographic factors such as an aging population. Instead, it was due to lack of job opportunities, which supports the claim that labor force exit lowered the unemployment rate. Table 2. U.S. private employment cycles, peak to trough. Source: Bureau of labor statistics and author's calculations.

... ... ...

Broadly speaking there exist three competing perspectives on the crisis (Palley, 2012).

For the period 1945 - 1975 the U.S. economy was characterized by a "virtuous circle" Keynesian growth model built on full employment and wage growth tied to productivity growth. This model is illustrated in Figure 1 and its logic was as follows. Productivity growth drove wage growth, which in turn fuelled demand growth and created full employment. That provided an incentive for investment, which drove further productivity growth and supported higher wages. This model held in the U.S. and, subject to local modifications, it also held throughout the global economy - in Western Europe, Canada, Japan, Mexico, Brazil and Argentina.

Figure 1. The 1945 – 75 virtuous circle Keynesian growth model. Wage growth Demand growth Full employment Productivity growth Investment

After 1980 the virtuous circle Keynesian growth model was replaced by a neoliberal growth model. The reasons for the change are a complex mix of economic, political and sociological reasons that are beyond the scope of the current paper. The key changes wrought by the new model were:

  1. Abandonment of the commitment to full employment and the adoption of commitment to very low inflation;
  2. Severing of the link between wages and productivity growth.

Together, these changes created a new economic dynamic. Before 1980, wages were the engine of U.S. demand growth. After 1980, debt and asset price inflation became the engine The new economic model was rooted in neoliberal economic thought. Its principal effects were to weaken the position of workers; strengthen the position of corporations; and unleash financial markets to serve the interests of financial and business elites.

As illustrated in figure 2, the new model can be described as a neoliberal policy box that fences workers in and pressures them from all sides. On the left hand side, the corporate model of globalization put workers in international competition via global production networks that are supported by free trade agreements and capital mobility.

On the right hand side, the "small" government agenda attacked the legitimacy of government and pushed persistently for deregulation regardless of dangers. From below, the labor market flexibility agenda attacked unions and labor market supports such as the minimum wage, unemployment benefits, employment protections, and employee rights. From above, policymakers abandoned the commitment of full employment, a development that was reflected in the rise of inflation targeting and the move toward independent central banks influenced by financial interests.

Figure 2. The neoliberal policy box. Globalization WORKERS Abandonment of full employment Small Government Labor Market Flexibility

Corporate globalization is an especially key feature. Not only did it exert downward inward pressures on economies via import competition and the threat of job off-shoring, it also provided the architecture binding economies together. Thus, globalization reconfigured global production by transferring manufacturing from the U.S. and Europe to emerging market economies. This new global division of labor was then supported by having U.S. consumers serve as the global economy's buyer of first and last resort, which explains the U.S. trade deficit and the global imbalances problem.

This new global division of labor inevitably created large trade deficits that also contributed to weakening the aggregate demand (AD)generation process by causing a hemorrhage of spending on imports (Palley, 2015)

An important feature of the Keynesian hypothesis is that the neoliberal policy box was implemented on a global basis, in both the North and the South. As in the U.S., there was also a structural break in policy regime in both Europe and Latin America. In Latin America , the International Monetary Fund and World Bank played an important role as they used the economic distress created by the 1980s debt crisis to push neoliberal policy

They did so by making financial assistance conditional on adopting such policies. This global diffusion multiplied the impact of the turn to neoliberal economic policy and it explains why the Washington Consensus enforced by the International Monetary Fund and World Bank has been so significant. It also explains why stagnation has taken on a global dimension.

III The role of finance in the neoliberal model

Owing to the extraordinarily deep and damaging nature of the financial crisis of 2008, financial market excess has been a dominant focus of explanations of the Great Recession. Within the neoliberal government failure hypothesis the excess is attributed to ill-advised government intervention and Federal Reserve interest rate policy. Within the neoliberal market failure hypothesis it is attributed to ill-advised deregulation and failure to modernize regulation.

According to the Keynesian destruction of shared prosperity hypothesis neither of those interpretations grasps the true significance of finance. The government failure hypothesis is empirically unsupportable (Palley, 2012a, chapter 6), while the market failure hypothesis has some truth but also misses the true role of finance That role is illustrated in Figure 3 which shows that finance performed two roles in the neoliberal model. The first was to structurally support the neoliberal policy box. The second was to support the AD generation process. These dual roles are central to the process of increasing financial domination of the economy which has been termed financialization (Epstein, 2004, p.3; Krippner, 2004, 2005; Palley, 2013). Figure 3. The role of finance in the neoliberal model. The role of finance: "financialization" Supporting the neoliberal policy box Aggregate demand generation Corporate behavior Economic policy Financial innovation The policy box shown in Figure 2 has four sides.

A true box has six sides and a four sided structure would be prone to structural weakness.

Metaphorically speaking, one role of finance is to provide support on two sides of the neoliberal policy box, as illustrated in Figure 4.

Finance does this through three channels. First, financial markets have captured control of corporations via enforcement of the shareholder value maximization paradigm of corporate governance. Consequently, corporations now serve financial market interests along with the interests of top management. Second, financial markets in combination with corporations lobby politically for the neoliberal policy mix.

The combination of changed corporate behavior and economic policy produces an economic matrix that puts wages under continuous pressure and raises income inequality.

Third, financial innovation has facilitated and promoted financial market control of corporations via hostile take-overs, leveraged buyouts and reverse capital distributions. Financial innovation has therefore been key for enforcing Wall Street's construction of the shareholder value maximization paradigm.

Figure 4. Lifting the lid on the neoliberal policy box. The neoliberal box Corporations Financial markets

The second vital role of finance is the support of AD. The neoliberal model gradually undermined the income and demand generation process, creating a growing structural demand gap. The role of finance was to fill that gap. Thus, within the U.S., deregulation, financial innovation, speculation, and mortgage lending fraud enabled finance to fill the demand gap by lending to consumers and by spurring asset price inflation

Financialization assisted with this process by changing credit market practices and introducing new credit instruments that made credit more easily and widely available to corporations and households. U.S. consumers in turn filled the global demand gap, along with help from U.S. and European corporations who were shifting manufacturing facilities and investment to the emerging market economies.

Three things should be emphasized.

  1. First, this AD generation role of finance was an unintended consequence and not part of a grand plan. Neoliberal economists and policymakers did not realize they were creating a demand gap, but their laissez-faire economic ideology triggered financial market developments that coincidentally filled the demand gap.
  2. Second, the financial process they unleashed was inevitably unstable and was always destined to hit the wall. There are limits to borrowing and limits to asset price inflation and all Ponzi schemes eventually fall apart. The problem is it is impossible to predict when they will fail. All that can be known with confidence is that it will eventually fail.
  3. Third, the process went on far longer than anyone expected, which explains why critics of neoliberalism sounded like Cassandras (Palley, 1998, Chapter 12). However, the long duration of financial excess made the collapse far deeper when it eventually happened. It has also made escaping the after-effects of the financial crisis far more difficult as the economy is now burdened by debts and destroyed credit worthiness. That has deepened the proclivity to economic stagnation.
IV Evidence

Evidence regarding the economic effects of the neoliberal model is plentiful and clear Figure 5 shows productivity and average hourly compensation of non-supervisory workers (that is non-managerial employees who are about 80 percent of the workforce). The link with productivity growth was severed almost 40 years ago and hourly compensation has been essentially stagnant since then.

Figure 5.

... ... ...

Table 3 shows data on the distribution of income growth by business cycle expansion across the wealthiest top 10 percent and bottom 90 percent of households. Over the past sixty years there has been a persistent decline in the share of income gains going to the bottom 90 percent of households ranked by wealth. However, in the period 1948 – 1979 the decline was gradual. After 1980 there is a massive structural break and the share of income gains going to the bottom 90 percent collapses. Before 1980, on average the bottom 90 percent received 66 percent of business cycle expansion income gains. After 1980, on average they receive just 8 percent.

Table 3. Distribution of income growth by business cycle expansion across the wealthiest top 10 percent and bottom 90 percent of households. Source: Tcherneva (2014), published in The New York Times , September 26, 2014. '49- '53 '54- '57 '59- '60 '61- '69 '70- '73 '75- '79 '82- '90 '91- '00 '01- '07 '09- '12 Average Pre-1908 Average Post-1980 Top 10% 20% 28 32 33 43 45 80 73 98 116 34% 92% Bottom 90% 80% 72 68 67 57 55 20 27 2 -16 66% 8%

Figure 6 shows the share of total pre-tax income of the top one percent of households ranked by wealth. From the mid-1930s, with the implementation of the New Deal social contract, that share fell from a high of 23.94 percent in 1928 to a low of 8.95 percent in 1978. Thereafter it has steadily risen, reaching 23.5 percent in 2007 which marked the beginning of the Great Recession. It then fell during the Great Recession owing to a recession-induced fall in profits, but has since recovered most of that decline as income distribution has worsened again during the economic recovery. In effect, during the neoliberal era the US economy has retraced its steps, reversing the improvements achieved by the New Deal and post-World War II prosperity, so that the top one percent's share of pre-tax income has returned to pre-Great Depression levels.

Figure 6. US pre-tax income share of top 1 percent. Source: http://inequality.org/income-inequality/. Original source: Thomas Piketty and Emanuel Saez (2003), updated at http://emlab.edu/users/saez.

As argued in Palley (2012a, p. 150-151) there is close relationship between union membership density (i.e. percent of employed workers that are unionized) and income distribution. This is clearly shown in Figure 7 which shows union density and the share of pre-tax income going to the top ten percent of wealthiest households. The neoliberal labor market flexibility agenda explicitly attacks unions and works to shift income to wealthier households.

Share of income going to the top 10 percent 2013: 47.0% Union membership density 11.2% 0% 10% 20% 30% 40% 50% 60% 1917 1923 1929 1935 1941 1947 1953 1959 1965 1971 1977 1983 1989 1995 2001 2007 2013 Source: Data on union density follows the composite series found in Historical Statistics of the United States; updated to 2013 from unionstats.com. Income inequality (share of income to top 10%) from Piketty and Saez,

"Income Inequality in the United States, 1913-1998, Quarterly Journal of Economics , 118(1), 2003, 1-39. Updated Figure 7. Union membership and the share of income going to the top ten percent of wealthiest households, 1917 – 2013. Source: Mishel, Gould and Bivens (2015). Table 4 provides data on the evolution of the U.S. goods and services trade balance as a share of GDP by business cycle peak. Comparison across peaks controls for the effect of the business cycle. The data show through to the late 1970s U.S. trade was roughly in balance, but after 1980 it swung to massive deficit and the deficits increased each business cycle. These deficits were the inevitable product of the neoliberal model of globalization (Palley, 2015) and they undermined the AD generation process in accordance with the Keynesian hypothesis.

Table 4. The U.S. goods & services trade deficit/surplus by business cycle peaks, 1960 – 2007. Sources: Economic Report of the President, 2009 and author's calculations. Business cycle peak year Trade balance ($ millions) GDP ($ billions) Trade balance/ GDP (%) 1960 3,508 526.4 0.7 1969 91 984.6 0.0 1973 1,900 1,382.7 0.1 1980 -25,500 2,789.5 -0.9 1981 -28,023 3,128.4 -0.9 1990 -111,037 5,803.1 -1.9 2001 -429,519 10,128.0 -4.2 2007 -819,373 13,807.5 -5.9

Finally, Figure 8 shows total domestic debt relative to GDP and growth. This Figure is highly supportive of the Keynesian interpretation of the role of finance. During the neoliberal era real GDP growth has actually slowed but debt growth has exploded. The reason is the neoliberal model did nothing to increase growth, but it needed faster debt growth to fill the demand gap created by the model's worsening of income distribution and creation of large trade deficits. Debt growth supported debt-financed consumer spending and it supported asset price inflation that enabled borrowing which filled the demand gap caused by the neoliberal model. Figure 8. Total domestic debt and growth (1952-2007). Source: Grantham, 2010.

V The debate about the causes of the crisis: why it matters

The importance of the debate about the causes of the crisis is that each perspective recommends its own different policy response. For hardcore neoliberal government failure proponents the recommended policy response is to double-down on the policies described by the neoliberal policy box and further deregulate markets; to deepen central bank independence and the commitment to low inflation via strict rules based monetary policy; and to further shrink government and impose fiscal austerity to deal with increased government debt produced by the crisis For softcore neoliberal market failure proponents the recommended policy response is to tighten financial regulation but continue with all other aspects of the existing neoliberal policy paradigm. That means continued support for corporate globalization, socalled labor market flexibility, low inflation targeting, and fiscal austerity in the long term. Additionally, there is need for temporary large-scale fiscal and monetary stimulus to combat the deep recession caused by the financial crisis.

However, once the economy has recovered, policy should continue with the neoliberal model For proponents of the destruction of shared prosperity hypothesis the policy response is fundamentally different. The fundamental need is to overthrow the neoliberal paradigm and replace it with a "structural Keynesian" paradigm. That involves repacking the policy box as illustrated in Figure 9.

The critical step is to take workers out of the box and put corporations and financial markets in so that they are made to serve a broader public interest. The key elements are to replace corporate globalization with managed globalization that blocks race to the bottom trade dynamics and stabilizes global financial markets; restore a commitment to full employment; replace the neoliberal anti-government agenda with a social democratic government agenda; and replace the neoliberal labor market flexibility with a solidarity based labor market agenda.

The goals are restoration of full employment and restoration of a solid link between wage and productivity growth.

Figure 9. The structural Keynesian box Corporations & Managed Financial Markets Globalization Full Employment Social Democratic Government Solidarity Labor Markets

Lastly, since the neoliberal model was adopted as part of a new global economic order, there is also need to recalibrate the global economy. This is where the issue of "global rebalancing" enters and emerging market economies need to shift away from export-led growth strategies to domestic demand-led strategies. That poses huge challenges for many emerging market economies because they have configured their growth strategies around export-led growth whereby they sell to U.S. consumers.

VI From crisis to stagnation: the failure to change

Massive policy interventions, unequalled in the post-war era, stopped the Great Recession from spiraling into a second Great Depression. The domestic economic interventions included the 2008 Troubled Asset Relief Program (TARP) that bailed out the financial sector via government purchases of assets and equity from financial institutions; the 2009 American Recovery and Reinvestment Act (ARRA) that provided approximately $800 billion of fiscal stimulus, consisting of approximately $550 billion of government spending and $250 billion of tax cuts; the Federal Reserve lowering its interest target to near-zero (0 - 0.25 percent); and the Federal Reserve engaging in quantitative easing (QE) transactions that involve it purchasing government and private sector securities. At the international level, in 2008 the Federal Reserve established a temporary $620 billion foreign exchange (FX) swap facility with foreign central banks.

That facility provided the global economy with dollar balances, thereby preventing a dollar liquidity shortage from triggering a wave of global default on short-term dollar loans that the financial system was unwilling to roll-over because of panic.3

Additionally, there was unprecedented globally coordinated fiscal stimulus arranged via the G-20 mechanism. 3

The FX swaps with foreign central banks have been criticized as being a bail-out for foreign economies. In fact, they saved the US financial system which would have been pulled down by financial collapse outside

Despite their scale, these interventions did not stop the recession from being the deepest since 1945, and nor did they stop the onset of stagnation. Table 5 shows how GDP growth has failed to recover since the end of the Great Recession, averaging just 2.1 percent for the five year period from 2010 – 2014. Furthermore, that period includes the rebound year of 2010 when the economy rebounded from its massive slump owing to the extraordinary fiscal and monetary stimulus measures that were put in place

Table 5. U.S. GDP growth. Source: Statistical Annex of the European Union, Autumn 2014 and author's calculations.

The growth rate for 2014 is that estimated in October 2014.

1961 - 1970 1971 - 1980 1981 - 1990 1991 - 2000 2001 - 2007 2008 - 2009 2010 - 2014

4.2% 3.2% 3.3% 3.5% 2.5% -1.6% 2.1%

Table 6 shows employment creation in the five years after the end of recessions, which provides another window on stagnation. The job creation numbers show that the neoliberal model was already slowing in the 1990s with the first episode of "jobless the US.

Many foreign banks operating in the US had acquired US assets financed with short-term dollar borrowings. When the US money market froze in 2008 they could not roll-over these loans in accordance with normal practice. That threatened massive default by these banks within the US financial system, which would have pulled down the entire global financial system.

The Federal Reserve could not lend directly to these foreign banks and their governing central banks lacked adequate dollar liquidity to fill the financing gap. The solution was to lend dollars to foreign central banks, which then made dollar loans to foreign banks in need of dollar roll-over short-term financing. recovery".

It actually ground to stagnation in the 2001 – 2007 period, but this was masked by the house price bubble and the false prosperity it created. Stagnation has persisted after the Great Recession, but the economic distress caused by the recession has finally triggered awareness of stagnation among elites economists. In a sense, the Great Recession called out the obvious, just as did the little boy in the Hans Anderson story about the emperor's new suit

Table 6. U.S. private sector employment creation in the five year period after the end of recessions for six business cycles with extended expansions. Source: Bureau of labor statistics and author's calculations. * = January 1980 the beginning of the next recession Recession end date Employment at recession end date (millions) Employment five years later (millions) Percent growth in employment Feb 1961 45.0 52.2 16.0% Mar 1975 61.9 74.6* 20.5% Nov 1982 72.8 86.1 18.3% March 1991 90.1 99.5 10.4% Nov 2001 109.8 115.0 4.7% June 2009 108.4 117.1 8.0% The persistence of stagnation after the Great Recession raises the question "why"? The answer is policy has done nothing to change the structure of the underlying neoliberal economic model.

That model inevitably produces stagnation because it produces a structural demand shortage via (i) its impact on income distribution, and (ii) via its design of globalization which generates massive trade deficits, wage competition and off-shoring of jobs and investment. In terms of the three-way contest between the government failure hypothesis, the market failure hypothesis and the destruction of shared prosperity hypothesis, the economic policy debate during the Great Recession was cast as exclusively between government failure and market failure.

With the Democrats controlling the Congress and Presidency after the 2008 election, the market failure hypothesis won out and has framed policy since then. According to the hypothesis, the financial crisis caused an exceptionally deep recession that required exceptionally large monetary and fiscal stimulus to counter it and restore normalcy. Additionally, the market failure hypothesis recommends restoring and renovating financial regulation, but other than that the neoliberal paradigm is appropriate and should be deepened In accordance with this thinking, the in-coming Obama administration affirmed existing efforts to save the system and prevent a downward spiral by supporting the Bush administration's TARP, the Federal Reserve's first round of QE (November/December 2008) that provided market liquidity, and the Federal Reserve's FX swap agreement with foreign central banks

Thereafter, the Obama administration worked to reflate the economy via passage of the ARRA (2009) which provided significant fiscal stimulus. With the failure to deliver a V-shaped recovery, candidate Obama became even more vocal about fiscal stimulus However, reflecting its softcore neoliberal inclinations, the Obama administration then became much less so when it took office. Thus, the winners of the internal debate about fiscal policy in the first days of the Obama administration were those wanting more modest fiscal stimulus.4 Furthermore, its analytical frame was one of temporary stimulus with the 4 Since 2009 there has been some evolution of policy positions characterized by a shift to stronger support for fiscal stimulus. This has been especially marked in Larry Summers, who was the Obama administration's goal of long-term fiscal consolidation, which is softcore neoliberal speak for fiscal austerity Seen in the above light, after the passage of ARRA (2009), the fiscal policy divide between the Obama administration and hardcore neoliberal Republicans was about the speed and conditions under which fiscal austerity should be restored.

This attitude to fiscal policy reflects the dominance within the Democratic Party of "Rubinomics", the Wall Street view associated with former Treasury Secretary Robert Rubin, that government spending and budget deficits raise real interest rates and thereby lower growth. According to that view, the US needs long-term fiscal austerity to offset Social Security and Medicare Side-by-side with the attempt to reflate the economy, the Obama administration also pushed for major overhaul and tightening of financial sector regulation via the Dodd- Frank Act (2010).

That accorded with the market failure hypothesis's claim about the economic crisis and Great Recession being caused by financial excess permitted by the combination of excessive deregulation, lax regulation and failure to modernize regulation Finally, and again in accordance with the logic of the market failure hypothesis, the Obama administration has pushed ahead with doubling-down and further entrenching the neoliberal policy box. This is most visible in its approach to globalization. In 2010, free trade agreements modelled after NAFTA were signed with South Korea, Colombia and Panama. The Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Partnership (TTIP), two mega-agreements negotiated in secrecy and apparently bearing chief economic adviser when it took office. This shift has become a way of rewriting history by erasing the memory of initial positions. That is also true of the IMF which in 2010-2011 was a robust supporter of fiscal consolidation in Europe. similar hallmarks to prior trade agreements, are also being pushed by the Obama administration

The Obama administration's softcore neoliberalism would have likely generated stagnation by itself, but the prospect has been further strengthened by Republicans.

Thus, in accordance with their point of view, Republicans have persistently pushed the government failure hypothesis by directing the policy conversation to excessive regulation and easy monetary policy as the causes of the crisis. Consequently, they have consistently opposed strengthened financial regulation and demands for fiscal stimulus.

At the same time, they have joined with softcore neoliberal Democrats regarding doubling-down on neoliberal box policies, particularly as regards trade and globalization Paradoxically, the failure to change the overall economic model becomes most visible by analyzing the policies of the Federal Reserve, which have changed the most dramatically via the introduction of QE. The initial round of QE (QE1) was followed by QE2 in November 2010 and QE3 in September 2012, with the Fed shifting from providing short-term emergency liquidity to buying private sector financial assets.

The goal was to bid up prices of longer term bonds and other securities, thereby lowering interest rates on longer-term financing and encouraging investors to buy equities and other riskier financial assets. The Fed's reasoning was lower long-term rates would stimulate the economy, and higher financial asset prices would trigger a positive wealth effect on consumption spending. This makes clear the architecture of policy.

The Obama administration was to provide fiscal stimulus to jump start the economy; the Fed would use QE to blow air back into the asset price bubble; the Dodd-Frank Act (2010) would stabilize financial markets; and globalization would be deepened by further NAFTA-styled international agreements. This is a near-identical model to that which failed so disastrously. Consequently, stagnation is the logical prognosis.

VII Déjà vu all over again: back to the 1990s but with a weaker economy

The exclusion of the destruction of shared prosperity hypothesis, combined with the joint triumph of the market failure and government failure hypotheses, means the underlying economic model that produced the Great Recession remains essentially unchanged. That failure to change explains stagnation. It also explains why current conditions smack of "déjà vu all over again" with the US economy in 2014-15 appearing to have returned to conditions reminiscent of the mid-1990s.

Just as the 1990s failed to deliver durable prosperity, so too current optimistic conditions will prove unsustainable absent deeper change The déjà vu similarities are evident

All of these features mean both policy context and policy design look a lot like the mid-1990s. The Obama administration saved the system but did not change it

Consequently, the economy is destined to repeat the patterns of the 1990s and 2000s. However, the US economy has also experienced almost twenty more years of neoliberalism which has left its economic body in worse health than the 1990s. That means the likelihood of delivering another bubble-based boom is low and stagnation tendencies will likely reassert themselves after a shorter and weaker period of expansion

This structurally weakened state of the US economy is evident in the further worsening of income inequality that has occurred during the Great Recession and subsequent slow recovery.

... ... ...

Thomas I. Palley, Senior Economic Policy Advisor, AFL-CIO Washington, D.C. [email protected]

[Oct 08, 2017] On the history and grand duplicity of neoliberalism

Highly recommended!
Notable quotes:
"... Generally speaking, neoliberalism is a set of social, cultural, and political-economic forces that puts competition at the center of social life. According to neoliberalism, government's charge is not the care and security of citizens, but rather the promotion of market competition. In the neoliberal imagination, public social infrastructures (such as social security, unemployment benefits, public education) are believed to squash entrepreneurialism and individualism and breed dependency and bureaucracy. ..."
"... Gramsci's question is still pressing: How and why do ordinary working folks come to accept a system where wealth is produced by their collective labors and energies but appropriated individually by only a few at the top? The theory of hegemony suggests that the answer to this question is not simply a matter of direct exploitation and control by the capitalist class. Rather, hegemony posits that power is maintained through ongoing, ever-shifting cultural processes of winning the consent of the governed, that is, ordinary people like you and me. ..."
"... As Figure 1.1 shows, neoliberal hegemony works to erase this line between public and private and to create an entire society -- in fact, an entire world -- based on private, market competition. In this way, neoliberalism represents a radical reinvention of liberalism and thus of the horizons of hegemonic struggle. Crucially, within neoliberalism, the state's function does not go away; rather, it is deconstructed and reconstructed tow ard the new' end of expanding private markets. ..."
"... At this point, neoliberalism was still swimming upstream, as the postwar era ushered in a new' conjuncture that David Harvey calls embedded liberalism. ..."
"... Embedded liberalism was premised on a "class compromise" between the interests of workers and those of capitalists. In the name of peace, general prosperity, and global capitalism, a hegemonic consensus emerged "that the state should focus on full employment, economic growth, and the welfare of its citizens, and that state power should be freely deployed, alongside of or, if necessary, intervening in or even substituting for market processes to achieve these ends." 4 ..."
"... Neoliberalism developed largely as a coordinated political response to the hegemony of embedded liberalism. As Harvey explains, it was a project "to disembed capital from these constraints." 6 Indeed, the struggle for neoliberal hegemony waged a robust and successful class war on the "compromise" of embedded liberalism by developing, promoting, and implementing a new version of individual-liberty liberalism. ..."
"... As the system of embedded liberalism was taking root and establishing its dominance in national and international affairs, neoliberals were working on the ground: creating think tanks, forging political alliances, and infiltrating universities. During this second phase, neoliberalism emerged as a "thought collective": a "multilevel, multiphase, multi-sector approach to the building of political capacity to incubate, critique, and promulgate ideas." 7 ..."
"... The Neoliberal Thought Collective, as Philip Mirowski coined it, was a vertically integrated network of organizations and people focused on radically shifting the [concensus. ] ..."
Oct 08, 2017 | www.amazon.com

Quote from the book is courtesy of Amazon preview of the book Neoliberalism (Key Ideas in Media & Cultural Studies)

Generally speaking, neoliberalism is a set of social, cultural, and political-economic forces that puts competition at the center of social life. According to neoliberalism, government's charge is not the care and security of citizens, but rather the promotion of market competition. In the neoliberal imagination, public social infrastructures (such as social security, unemployment benefits, public education) are believed to squash entrepreneurialism and individualism and breed dependency and bureaucracy.

Competition, on the other hand, is heralded to ensure efficiency and incite creativity. Spurred by competition, individuals, organizations, companies, and even the government itself, will seek to optimize and innovate, creating a truly free social world where the best people and ideas come out on top. Put a little differently, neoliberalism aims to create a market-based society, where there are only competing private enterprises.

Since the late 1970s, neoliberal ideas have increasingly guided the policies and practices of governments and other social institutions, and as a result, we have come to live in competition with ourselves, others, and our social world.

...In a neoliberal society, the capitalist market is no longer imagined as a distinct arena where goods are valued and exchanged; rather, the market is, or ideally should be, the basis for all human activities.

...We are necessarily interdependent beings, vulnerable and connected to one another, as our lives are supported and made possible by a number of infrastructures (e.g., schools, roads and bridges, communication) that bring us into relation with one another.

We need each other. We need social cooperation and a commitment to a common, collective good if we are all going to make it in this world.

Neoliberalism and its diffusion of competition throughout society make the infrastructures that undergird our lives profoundly unstable, while simultaneously diminishing our senses of interdependence and social connection. As we will see, living in competition paradoxically undercuts what enables our lives -- that is, our social connections and infrastructures -- while telling us to assume more and more responsibility through self-enclosed individualism, thereby squashing our capacities for coming together, trusting and caring for each other, and organizing for social change.

... ... ...

In a culture composed ot anxious, sell-enclosed individuals, where market competition defines all of social life, we need now, more than ever, to see the social constructedness of our identities, worlds, and everyday lives. For neoliberalism's culture of living in competition is so entrenched that only a cultural studies perspective can produce the forms of knowledge we need to imagine and build new worlds. Indeed, a cultural studies perspective understands that possibilities of resistance and transformation are everywhere. As Grossberg puts it,

power is never able to totalize itself. There are always fissures and fault lines that may become the active sites of change. Power never quite accomplishes everything it might like to everywhere, and there is always the possibility of changing the structures and organization of power.7

See, here's the thing; there's a gigantic paradox at the heart of neoliberal culture. On one hand, as we will see, neoliberalism presents itself as a totalizing situation where resistance and transformation seem impossible, as living in competition has come to define all aspects of our lives. On the other hand, though, neoliberalism's power over our lives is incredibly tenuous; for, as mentioned earlier, I am convinced that most of us are yearning for a vastly different world, one that is built upon and nurtures our interdependencies and shared vulnerabilities, not self-enclosed individualism and living in competition.

... ... ...

1 should note that, within academia, neoliberalism is a controversial term. Scholars continue to debate its usefulness. On one hand, for some, neoliberalism is a buzzword, a catchphrase; it is a term that is so often repeated and invoked that it has lost its meaning. According to these critiques, neoliberalism is presented as a scary monster that is everywhere and nowhere all at once. It has come to figure as shorthand for everything that is evil in our world, and as a result, it ends up teaching us very little about what specifically is wrong, how exactly we got here, and what actually can be done to change course. Thus, many scholars advocate not using the term at all. On the other hand, other scholars prefer not to use the term because they argue that it is misleading. For them, neoliberalism is simply an advanced form of liberal capitalism. There's nothing really new or neo here, so why overstate and confuse things with the prefix?

However, despite these critiques, I hang onto the term neoliberalism. My wager in doing so is that writing this book as a critical study of neoliberal culture gives us a way to map our current conjuncture. It allows us to hold together the "specific ensemble of social, cultural, and economic forces" at work in our world and, thus, to locate our lives in interrelation with those of others. Indeed, I have found during my work with students over the years that studying neoliberalism enables us to see our interconnectedness and the new ways of living that sensing our interconnectedness opens up. We all suffer when we're forced to live in competition as self-enclosed individuals. Studying the neoliberal conjuncture allows us to clearly identify the roots of our suffering, and to tr ace our connections with others who are also suffering, although often in variegated ways. In other words, when w'e map our conjuncture, we can see how our different lives are lived on common ground, which is a crucial step to creating a world beyond competition.

... ... ...

A NEW HEGEMON

THE RISE OF NEOLIBERALISM

CHAPTER OVERVIEW

At this point, you might have a sense of what neoliberalism is, but you're probably still fuzzy on the details. This chapter starts to clear things up by charting the making of our neoliberal conjuncture. By tracing the history and development of neoliberalism, we will leant how competition came to be the driving force in our everyday lives. Specifically, we will examine the rise of neoliberal hegemony in four phases.

Table 1.1 Four Phases of Neoliberalism

As we will see, neoliberalism is far from natur and necessary; rather, it represents a clear political project that was organized, struggled for, and won.

A NEW HEGEMONY

We begin our investigation with a historical account of the rise of neoliberal hegemony. Hegemony is a concept developed by Italian Marxist Antonio Gramsci. Gramsci was keen to account for the definitive role that culture played in legitimizing and sustaining capitalism and its exploitation of the working classes. In our own context of extreme economic inequality, Gramsci's question is still pressing: How and why do ordinary working folks come to accept a system where wealth is produced by their collective labors and energies but appropriated individually by only a few at the top? The theory of hegemony suggests that the answer to this question is not simply a matter of direct exploitation and control by the capitalist class. Rather, hegemony posits that power is maintained through ongoing, ever-shifting cultural processes of winning the consent of the governed, that is, ordinary people like you and me.

In other words, if we want to really understand why and how phenomena like inequality and exploitation exist, we have to attend to the particular, contingent, and often contradictory ways in which culture gets mobilized to forward the interests and power of the ruling classes. According to Gramsci, there was not one ruling class, but rather a historical bloc, "a moving equilibrium" of class interests and values. Hegemony names a cultural struggle for moral, social, economic, and political leadership; in this struggle, a field -- or assemblage -- of practices, discourses, values, and beliefs come to be dominant. While this field is powerful and firmly entrenched, it is also open to contestation. In other words, hegemonic power is always on the move; it has to keep winning our consent to survive, and sometimes it fails to do so.

Through the lens of hegemony, we can think about the rise of neoliberalism as an ongoing political project -- and class struggle -- to shift society's political equilibrium and create a new dominant field. Specifically, we are going to trace the shift from liberal to neoliberal hegemony. This shift is represented in the two images below.

Previous versions of liberal hegemony imagined society to be divided into distinct public and private spheres. The public sphere was the purview of the state, and its role was to ensure the formal rights and freedoms of citizens through the rule of law. The private sphere included the economy and the domestic sphere of home and family.

For the most part, liberal hegemony was animated by a commitment to limited government, as the goal was to allow for as much freedom in trade, associations, and civil society as possible, while preserving social order and individual rights. Politics took shape largely around the line between public and private; more precisely, it was a struggle over where and how to draw the line. In other words, within the field of liberal hegemony, politics was a question of how to define the uses and limits of the state and its public function in a capitalist society. Of course, political parties often disagreed passionately about where and how to draw that line. As we'll see below, many advocated for laissez-faire capitalism, while others argued for a greater public role in ensuring the health, happiness, and rights of citizens. What's crucial though is that everyone agreed that there was a line to be drawn, and that there was a public function for the state.

As Figure 1.1 shows, neoliberal hegemony works to erase this line between public and private and to create an entire society -- in fact, an entire world -- based on private, market competition. In this way, neoliberalism represents a radical reinvention of liberalism and thus of the horizons of hegemonic struggle. Crucially, within neoliberalism, the state's function does not go away; rather, it is deconstructed and reconstructed tow ard the new' end of expanding private markets.

Consequently, contemporary politics take shape around questions of how best to promote competition. For the most part, politics on both the left and right have been subsumed by neoliberal hegemony. For example, while neoliberalism made its debut in Western politics with the right-wing administrations of Ronald Reagan and Margaret Thatcher, leaders associated with the left have worked to further neoliberal hegemony in stunning ways. As we will explore in more depth below and in die coming chapters, both U.S. presidents Bill Clinton and Barack Obama have governed to create a privatized, market society. In other words, there is both a left and a right hegemonic horizon of neoliberalism. Thus, moving beyond neoliberalism will ultimately require a whole new field of politics.

It is important to see that the gradual shift from liberal to neoliberal hegemony was not inevitable or natural, nor was it easy. Rather, what we now r call neoliberalism is the effect of a sustained hegemonic struggle over the course of the twentieth and twentyfirst centuries to construct and maintain a new political equilibrium. Simply put, neoliberalism was, and continues to be, struggled over, fought for, and w'on.

In Masters of the Universe: Hayek, Friedman, and the Birth of Neoliheral Politics, Daniel Stedman Jones charts the history of the neoliberal project in three phases. The first phase saw the development of neoliberal ideas and philosophies in Europe during the years between World War I and World War II, as a relatively small group of economists (including most notably those from Austria, Germany, and France), wrestling with the rise of fascism, communism, and socialism, sought to envision a new liberal society that would protect individual liberties and free markets. The second phase w as a period of institution building, knowledge production, and organizing that enabled neoliberalism to cultivate a powerful base in culture and politics, especially in the U.S. and United Kingdom. During this phase, neoliberalism developed into a "thought collective" and full-fledged political movement. In the third phase, neoliberal ideas migrated from the margins to the center of political life as they came to shape global trade and development suggested by the theory of hegemony, none of these phases were neat and clean; each was shot through with struggle and contingency.

1 am adding a fourth phase, which is the focus of this book. Here neoliberalism is not only a set of economic policies and political discourses, but also a deeply entrenched sensibility of w ho we are and can become and of what is possible to do, both individually and collectively. It is what Raymond Williams called "a structure of feeling." Thanks to a convergence of different social, economic, and cultural forces, which we will explore throughout the following chapters, competition has become fully embedded in our lifeworlds: it is our culture, our conjuncture, the air we breathe. More specifically, this fourth phase is characterized by widespread precarity, where crisis becomes ordinary, a constant feature of everyday life. As we will learn in coming chapters, we are prompted to confront the precarity neoliberalism brings to our lives with more neoliberalism, that is, with living in competition and self-enclosed individualism.

PHASE I: THEORETICAL INNOVATION

The Crisis of Liberalism and the Birth of the Social Welfare State

Neoliberalism emerged out of the crisis of liberalism that ultimately came to a head in the early twentieth century. It is crucial to understand that liberal hegemony was never a coherent, unified phenomenon. Rather, it developed around a central political antagonism. On one side were those who championed individual liberty (especially private property rights and free markets) above all else. They argued against government intervention in private life, especially in the market. On the other side, social reformers believed that government should be pursued for the common good and not just for individual liberties. In the decades leading up to the Great Depression, it became clear that the individual-liberty side, which had long been dominant, was inadequate for managing huge transformations in capitalism that were underway. These transformations included industrialization, urbanization, and internationalization, as well as the rise of large-scale corporate firms that squeezed smaller market actors. Huge gaps formed between the political-economic elite, the middle classes, and the poor. Simply put, liberalism was in crisis.

During this time of social, cultural, and economic upheaval, those espousing the common good gained political ground. Specifically, the misery and devastation of the Great Depression solidified the gains for social reformers, opening a new era where a new, common-good liberalism began to prevail. In the United States, President Franklin

Roosevelt's administration passed a comprehensive set of social policies designed to protect individuals from the unpredictable and often brutal operations of capitalism. These included the following:

  1. Reforming banking: The Glass-Steagall Act of 1933 set up regulatory agencies to provide oversight to the stock markets and financial sector, while enforcing the separation of commercial banking and speculative investment. Simply put, banks couldn't gamble with your savings and future.
  2. Strengthening labor: In 1935, the National Recovery Administration and the National Labor Relations Act were passed to recognize labor unions and the rights of workers to organize. At the same time, the administration spurred employment through the Public Works Administration, the Civil Works Administration, and the Works Progress Administration, while guaranteeing workers a dignified retirement with the Social Security Act of 1935.
  3. Promoting housing: A range of programs, policies, and agencies were established, including the Federal Housing Administration and the U.S. Housing Authority, to encourage homeownership and provide housing to the poor and homeless. 1

Taken together, these policies marked the birth of the so-called social welfare state, albeit one that was limited in scope and often highly exclusionary in practice. For example, a universal health care program was never realized. Many social groups, including African-Americans, migrant farm workers, and women, were prohibited by law from receiving federal benefits such as social security or unemployment. 3 Additionally, institutional racism plagued (as it still does) housing and banking institutions.

The Walter Lippmann Colloquium and the Birth of Neoliberalism

It is helpful to trace the emergence of our neoliberal conjuncture back to this moment where the common good was starting to win the day via the establishment of a limited and exclusionary social welfare state. For, despite the fact that these social welfare policies effectively "saved" capitalism from destroying itself, the individual-liberty side was deeply troubled. They feared that a new and established the Mont Pelerin Society (MPS) in 1947 to continue the work of dreaming up a new individual-liberty liberalism.

At this point, neoliberalism was still swimming upstream, as the postwar era ushered in a new' conjuncture that David Harvey calls embedded liberalism.

Embedded liberalism was premised on a "class compromise" between the interests of workers and those of capitalists. In the name of peace, general prosperity, and global capitalism, a hegemonic consensus emerged "that the state should focus on full employment, economic growth, and the welfare of its citizens, and that state power should be freely deployed, alongside of or, if necessary, intervening in or even substituting for market processes to achieve these ends." 4

A central piece of the embedded liberal compromise was the Bretton Woods Accord, which attempted to stabilize the global economy by re-fixing currency rates to the gold standard. The idea was that national economies shouldn't be threatened by currency speculation in the financial markets. All this meant that an infrastructure emerged to protect citizens' economic and social security. To ensure the common good, capitalism must be embedded within "a web of social and political constraints." 5

Neoliberalism developed largely as a coordinated political response to the hegemony of embedded liberalism. As Harvey explains, it was a project "to disembed capital from these constraints." 6 Indeed, the struggle for neoliberal hegemony waged a robust and successful class war on the "compromise" of embedded liberalism by developing, promoting, and implementing a new version of individual-liberty liberalism.

The Neoliberal Thought Collective

As the system of embedded liberalism was taking root and establishing its dominance in national and international affairs, neoliberals were working on the ground: creating think tanks, forging political alliances, and infiltrating universities. During this second phase, neoliberalism emerged as a "thought collective": a "multilevel, multiphase, multi-sector approach to the building of political capacity to incubate, critique, and promulgate ideas." 7

The Neoliberal Thought Collective, as Philip Mirowski coined it, was a vertically integrated network of organizations and people focused on radically shifting the [concensus. ]

[Oct 07, 2017] Finances hold on our everyday life must be broken by Costas Lapavitsas

Highly recommended!
Yves Smith's ebook is available free here. It covers the same set of topics and is useful add on to Costas Lapavitsas book.
Notable quotes:
"... Financialisation represents a historic and deep-seated transformation of mature capitalism. Big businesses have become "financialised" as they have ample profits to finance investment, rely less on banks for loans and play financial games with available funds. Big banks, in turn, have become more distant from big businesses, turning to profits from trading in open financial markets and from lending to households. Households have become "financialised" too, as public provision in housing, education, health, pensions and other vital areas has been partly replaced by private provision, access to which is mediated by the financial system. Not surprisingly, households have accumulated a tremendous volume of financial assets and liabilities over the past four decades. ..."
"... Financialisation has also created new forms of profit associated with financial markets and transactions. Financial profit can be made out of any income, or any sum of money that comes into contact with the financial sphere. Households, for example, generate profits for finance as debtors (mostly by paying interest on mortgages) but also as creditors (mostly by paying fees and charges on pension funds and insurance). Finance is not particular about how and where it makes its profits, and certainly does not limit itself to the sphere of production. It ranges far and wide, transforming every aspect of social life into a profit-making opportunity. ..."
"... Financialised capitalism is, thus, a deeply unequal system, prone to bubbles and crises – none greater than that of 2007-09. What can be done about it? The most important point in this respect is that financialisation does not represent an advance for humanity, and very little of it ought to be preserved. Financial markets are, for instance, able to mobilise advanced technology employing some of the best-trained physicists in the world to rebalance prices across the globe in milliseconds. This "progress" allows financiers to earn vast profits; but where is the commensurate benefit to society from committing such expensive resources to these tasks? ..."
"... The debate should focus on why neoliberalism was seen as the panacea to the relatively socialist post-War consensus. Neoliberalism is an ideology which has not even begun to be deconstructed. Like religion, the myths (concerning deficits and debt, for example) have been exposed here in CiF but not the global public -- and must be eventually. ..."
"... Big Brother=Neoliberalism=The Market=The Party=Enforcement ..."
"... Don't delude yourself. A capitalist "society" must have control over its citizens as intensive as a socialist one - just look at GCHQ/NSA. That it is exercised through markets and advertising instead of propaganda is neither here nor there. ..."
"... Thatcher's and Reagan's vicious, vile strikebreaking and the support they got from the supposedly free press and supposedly impartial judiciary in that is a good example. ..."
"... "The right way to think about it is that the financial industry must be doing something incredibly useful or it would not exist." What a ridiculous thing to say. By the same reasoning both bubonic plague and child abusers are both doing something incredibly useful, otherwise they would not exist. ..."
"... Classical economics generally sees things the way you do, and attempts to match up economics with reality. Neoclassical economics on the other hand, which is the system we're currently using, has little concern with reality. So the specific problem involves our economic system diverging from reality. ..."
"... Compounding factors involve the sociopathic nature of the individuals involved. For example, we think nothing about starting a war (generating profit for our military machine), then rebuilding the ravaged country (generating profit for our construction companies). In neoclassical economics that's just damned good business (the banks and corporations taking profits, the taxpayer footing the bill). ..."
"... There have always been alpha males and alpha females even, people who are very competitive, workaholics, who are leaders, who must be in charge. ..."
"... I think the difference in the last 30 years was Thatcherism and in very short order Reaganism. Adam Curtis says that Thatcher and her campaign manager were ardent anti-communists, they saw Britain in the grip of the unions as a kind of moral decay rotting the nation from the inside out (the enemy within) and they were both obsessed with Churchill, so they embarked on a Methodist 'the devil makes work for idle hands' market philosophy aimed at encouraging people to be self-sufficient, independent, have Victorian values, be as successful as possible and all that stuff. ..."
"... I think another thing is that capitalism then was still in its infancy of the turbo-on-steroids stage. For that cancer to truly metastasize we needed the personal computer network revolution that enabled globalisation, ..."
"... I agree that financialisation is a parasitic activity that will bring the body politic to its knees - and in the not too near future. This is capitalism that really doesn't give f**k about the environment or anyone who is not earning these obscene bucks shuffling electronic wizardry around to nobody's benefit but their own. ..."
"... Whose value system is overly competitive with the desire to win.. How can it be otherwise when we, ourselves, have brainwashed the children since the 1980s. We have given them Gameboys, Xboxes and the WoW where the emphasis is on winning. Play this for hours every day and the message becomes ingrained -- WIN ..."
"... The USSR had to be heavily militarized because its very existence depended on being able to defend itself against the aggressive USA and its little helpers, Nato-countries. It was surrounded by US military bases. That is the same US that went and murdered millions in SE Asia to "fight Communism". ..."
"... The article is about a global issue, not only your backyard. The people of UK can consider themselves lucky compared with billions of others. But what would you care. ..."
"... The financial sector, CEOs, oligarchs etc run on good old fashioned greed - a commodity not about to run out anytime soon. Is it even 'reversible' ? ..."
Jan 01, 2014 | www.theguardian.com

Finance's hold on our everyday life must be broken The rampant capitalism that has brought the market into every corner of society needs to be reined in 'Financial calculation evaluates everything in pennies and pounds, transforming the most basic goods – above all, housing – into "investments".'

The rampant capitalism that has brought the market into every corner of society needs to be reined in

The mature economies of the modern world, particularly the United States and Britain, are often described as "financialised". The term reflects the ascendancy of the financial sector. Even more important, it conveys the penetration of the financial system into every nook and cranny of society, including housing, education, health and other areas of life that were previously relatively immune.

Evidence that financialisation represents a deep transformation of mature economies is offered by the global crisis of 2007-09 . The crisis originated in the elephantine US financial system, and was associated with speculation in housing. For a brief period it led to serious questioning of mainstream economic theory and policy: how to confront the turmoil, and what to do about the diseased financial system; are new economic theories needed? However, after six years it is clear that very little has changed. Financialisation is here to stay.

Consider, for instance, the policies to confront the crisis. First, public funds were injected into banks to boost capital. Second, public liquidity was made available to banks to sustain their operations. Third, public interest rates were driven to zero to enable banks to make secure profits by lending to their own customers at higher rates.

This extraordinary public largesse towards private banks was matched by austerity and wage reductions for workers and households. As for restructuring finance, nothing fundamental has taken place. The behemoths that continue to dominate the global financial system operate in the knowledge that they enjoy an unspoken public guarantee. The unpalatable reality is that financialisation will persist, despite its costs for society.

Financialisation represents a historic and deep-seated transformation of mature capitalism. Big businesses have become "financialised" as they have ample profits to finance investment, rely less on banks for loans and play financial games with available funds. Big banks, in turn, have become more distant from big businesses, turning to profits from trading in open financial markets and from lending to households. Households have become "financialised" too, as public provision in housing, education, health, pensions and other vital areas has been partly replaced by private provision, access to which is mediated by the financial system. Not surprisingly, households have accumulated a tremendous volume of financial assets and liabilities over the past four decades.

The penetration of finance into the everyday life of households has not only created a range of dependencies on financial services, but also changed the outlook, mentality and even morality of daily life. Financial calculation evaluates everything in pennies and pounds, transforming the most basic goods – above all, housing – into "investments". Its logic has affected even the young, who have traditionally been idealistic and scornful of pecuniary calculation. Fertile ground has been created for neoliberal ideology to preach the putative merits of the market.

Financialisation has also created new forms of profit associated with financial markets and transactions. Financial profit can be made out of any income, or any sum of money that comes into contact with the financial sphere. Households, for example, generate profits for finance as debtors (mostly by paying interest on mortgages) but also as creditors (mostly by paying fees and charges on pension funds and insurance). Finance is not particular about how and where it makes its profits, and certainly does not limit itself to the sphere of production. It ranges far and wide, transforming every aspect of social life into a profit-making opportunity.

The traditional image of the person earning financial profits is the "rentier", the individual who invests funds in secure financial assets. In the contemporary financialised universe, however, those who earn vast returns are very different. They are often located within a financial institution, presumably work to provide financial services, and receive vast sums in the form of wages, or more often bonuses. Modern financial elites are prominent at the top of the income distribution, set trends in conspicuous consumption, shape the expensive end of the housing market, and transform the core of urban centres according to their own tastes.

Financialised capitalism is, thus, a deeply unequal system, prone to bubbles and crises – none greater than that of 2007-09. What can be done about it? The most important point in this respect is that financialisation does not represent an advance for humanity, and very little of it ought to be preserved. Financial markets are, for instance, able to mobilise advanced technology employing some of the best-trained physicists in the world to rebalance prices across the globe in milliseconds. This "progress" allows financiers to earn vast profits; but where is the commensurate benefit to society from committing such expensive resources to these tasks?

Financialisation ought to be reversed. Yet such an entrenched system will never be reversed by regulation alone. Its reversal also requires the creation of public banking that would operate with a new spirit of public service. It also needs effective controls to be applied to private banking as well as to international flows of capital. Not least, it requires new methods of meeting the financial requirements of households, as well as of small and medium enterprises. There is an urgent need for communal and associational ways to provide housing, education, health and other basic goods and services for working people, breaking the hold of finance on everyday life.

Ultimately, financialisation will not be reversed without an ambitious programme to re-establish the superiority of the social over the private, and the collective over the individual in contemporary society. Reversing financialisation is about reining in the rampant capitalism of our day.

Costas Lapavitsas's latest book is Profiting Without Producing: How Finance Exploits Us All

ATrueFinn -> Mizzentop , 3 Jan 2014 08:11

The Berlin Wall kept people in - that was its primary purpose.

Few people know what the Berlin Wall was. It was a wall around West Berlin, which was not a part of West Germany but an occupied territory within the GDR. An American president called himself a Berliner, which means a Berliner Pfannkuchen, i.e. a doughnut (technically, not by shape and content.)

But whatever. The good people of the UK nowadays seem to wish there was a Rumanian Wall and a Bulgarian Wall to keep people in. I gather quite a few in the former West Germany would like a wall to keep the Ossies in.

HolyInsurgent -> AhBrightWings , 2 Jan 2014 22:51

Why Reagan and Thatcher were allowed to gut functioning...societies so that a handful could prosper remains the great mystery.

On the contrary. Reagan and Thatcher were convenient advocates of a growing conservative consensus. The convergence of institutions must have begun before their tenure because neoliberalism became the dominant consensus by the time of their leadership.

The debate should focus on why neoliberalism was seen as the panacea to the relatively socialist post-War consensus. Neoliberalism is an ideology which has not even begun to be deconstructed. Like religion, the myths (concerning deficits and debt, for example) have been exposed here in CiF but not the global public -- and must be eventually.

Big Brother=Neoliberalism=The Market=The Party=Enforcement

Gegenbeispiel -> Mizzentop , 2 Jan 2014 17:19

Don't delude yourself. A capitalist "society" must have control over its citizens as intensive as a socialist one - just look at GCHQ/NSA. That it is exercised through markets and advertising instead of propaganda is neither here nor there.

Thatcher's and Reagan's vicious, vile strikebreaking and the support they got from the supposedly free press and supposedly impartial judiciary in that is a good example.

Mowglia -> JohnJohnJohnJohn , 2 Jan 2014 15:49

"The right way to think about it is that the financial industry must be doing something incredibly useful or it would not exist." What a ridiculous thing to say. By the same reasoning both bubonic plague and child abusers are both doing something incredibly useful, otherwise they would not exist.

Perhaps you could explain to me what exactly it is that these socialists are doing that is so useful?

Mowglia -> londongapp , 2 Jan 2014 15:40

It is the essential difference between wealth and money that is constantly missed by Politicians and Economists.

Classical economics generally sees things the way you do, and attempts to match up economics with reality. Neoclassical economics on the other hand, which is the system we're currently using, has little concern with reality. So the specific problem involves our economic system diverging from reality.

Compounding factors involve the sociopathic nature of the individuals involved. For example, we think nothing about starting a war (generating profit for our military machine), then rebuilding the ravaged country (generating profit for our construction companies). In neoclassical economics that's just damned good business (the banks and corporations taking profits, the taxpayer footing the bill).

Mowglia -> Claire Bouskill , 2 Jan 2014 15:25

isnt it amazing that Marx predicted over 150 years ago that the greedy capitalists would be their own gravediggers

I never read Marx, although it sounds like he knew a bit about human nature and simply took the system to its logical conclusion. I'm not anti-capitalism. I believe it was a useful development in human history, similar to religion and feudalism. But now it's time to say goodbye and find a new way of doing things. There's no point in flogging a dead horse, unless you're part of the 1%.
MereMortal -> ScroogeJr , 2 Jan 2014 14:47
I haven't really given that aspect of it much thought. When I was growing up, we played Monopoly or Risk or Cluedo, we went outside, we raced, played cowboys and indians and the rest.

There have always been alpha males and alpha females even, people who are very competitive, workaholics, who are leaders, who must be in charge.

I think the difference in the last 30 years was Thatcherism and in very short order Reaganism. Adam Curtis says that Thatcher and her campaign manager were ardent anti-communists, they saw Britain in the grip of the unions as a kind of moral decay rotting the nation from the inside out (the enemy within) and they were both obsessed with Churchill, so they embarked on a Methodist 'the devil makes work for idle hands' market philosophy aimed at encouraging people to be self-sufficient, independent, have Victorian values, be as successful as possible and all that stuff.

I can well believe that, it's just that they stirred up the whole thing without ever thinking through the terrible potential downsides. That's a major problem with politics, fanatical zealots who claim to have the solution for all the problems a nation faces.

I think another thing is that capitalism then was still in its infancy of the turbo-on-steroids stage. For that cancer to truly metastasize we needed the personal computer network revolution that enabled globalisation, partly because then, it was possible for people to source more and more and more income streams without the commensurate ability to truly monitor the quality of the investments or to manage the human relations that actually motivate people to feel appreciated and to do good work.

That's my sixpence worth anyway.

zavaell , 2 Jan 2014 14:34
Fighting talk. I agree that financialisation is a parasitic activity that will bring the body politic to its knees - and in the not too near future. This is capitalism that really doesn't give f**k about the environment or anyone who is not earning these obscene bucks shuffling electronic wizardry around to nobody's benefit but their own.

Maybe regulation per se is not the main answer, but it sure as hell needs a politician to stand up and say what is said in this article.

ScroogeJr -> MereMortal , 2 Jan 2014 12:46
Whose value system is overly competitive with the desire to win.. How can it be otherwise when we, ourselves, have brainwashed the children since the 1980s. We have given them Gameboys, Xboxes and the WoW where the emphasis is on winning. Play this for hours every day and the message becomes ingrained -- WIN
ATrueFinn -> Mizzentop , 2 Jan 2014 09:37

The failure of the USSR owed much to its militarism but don't you see that a society like that HAS to be heavily militarized because its very existence depends on having total control over its citizens.

The USSR had to be heavily militarized because its very existence depended on being able to defend itself against the aggressive USA and its little helpers, Nato-countries. It was surrounded by US military bases. That is the same US that went and murdered millions in SE Asia to "fight Communism".

TwoWolvesAndALamb , 2 Jan 2014 08:48
You are spot on with this:

Consider, for instance, the policies to confront the crisis. First, public funds were injected into banks to boost capital. Second, public liquidity was made available to banks to sustain their operations. Third, public interest rates were driven to zero to enable banks to make secure profits by lending to their own customers at higher rates.

Yet it seems you still blame the private sector for accepting the favorable situation rather than the state for causing it:

Ultimately, financialization will not be reversed without an ambitious program to re-establish the superiority of the social over the private, and the collective over the individual in contemporary society.

A shift towards the rights of the individual would see the state have less power to bail out the banks. Your solution is to give the source of the problem yet more power. The banks couldn't bail themselves out - they needed the state to take the funds from the citizens. Why do you find the state so blameless as to suggest they need more influence?

theonionmurders -> selfraisingfred , 2 Jan 2014 08:40

Remind me, because maybe I missed something, but which bit of the post-war German economic miracle had them seeking a bailout from the IMF?

I'll tell you. West Germany was allowed to default twice on massive post-war loans in 1946 and 1948 thereby requiring IMF loans to finance it's day-to-day running.

TheGreenLion -> Tenthred , 2 Jan 2014 08:40
My current company needs debt to pay for the machinery and running costs to create products. These are sold for profit and the debt repaid. Without the initial debt the products, the salaries, the taxable income would not exist. Debt is banned in Islamic countries – it is not a coincidence that from being streets behind 1000 years ago, the Western world is now considerably more developed
theonionmurders -> Trilbey , 2 Jan 2014 08:23
Yves Smith's ebook is available free here.
harlequinmod -> JohnJohnJohnJohn , 2 Jan 2014 08:09
I think what sticks in the craw of socialists is that these financial corporations and people working in finance would be out of work if it hadn't been for Government intervention and taxpayer money. There is a real irony in having had to listen how great Thatcher was for breaking the unions, smashing nationalized industries on the basis of free market principles only to have to bail out the biggest advocates of the free market. Especially when the cause of the longest and deepest recession in memory was caused by those financial corporations and people working in finance.

Do I envy these people? Not really, they are on the whole treated like sh1t and they are so attached to their money that they are like mewling, whimpering children when faced with the threat of losing their jobs.

Claire Bouskill -> Mowglia , 2 Jan 2014 07:16
Isn't it amazing that marx predicted over 150 years ago that the greedy capitalists would be their own gravediggers as they continue to pauperize the workers to extract more profit , drive down wages and replace jobs with machinery. Forgetting it is the workers who buy the commodities and if they cannot buy , the system will collapse in on itself
QueenBoadicea -> Tenthred , 2 Jan 2014 07:13
So will the likes of Wonga and other payday lenders should be closed down and the directors face court proceedings for usury?

This is an interesting article: http://unemploymentmovement.com/forum/chat-a-rap/5926-welcome-to-the-usury-kingdom

But seeing as the Anglican church has shares in Wonga, this made me wake up to the hypocrisy of the church http://cesc.net/scholarweb/swabey/swabey.pdf

Mizzentop -> Gegenbeispiel , 2 Jan 2014 06:28
Your problem is that that you may desire a non-aspirational society, but that's just not how people are. The human spirit is aspirational and competitive - whether you think that's desirable or not doesn't matter. Consequently, the type of society you want is only possible if that human spirit can be quashed and contained.

The failure of the USSR owed much to its militarism but don't you see that a society like that HAS to be heavily militarised because its very existence depends on having total control over its citizens. Without guns and walls, people would have just refused to be cowed and would have left.

In simple terms, human beings are imperfect individuals driven by passions, ambitions and desires which result in bad things happening but more often good things. Whether we like the fact that we are imperfect is immaterial - we are what we are and no enforced system which seeks to contain our individuality will ever succeed in the long run.

Yossarian247 -> Hikeybikeychick , 2 Jan 2014 05:47
As bullydoggy says - its land (and I would add debt too).

This Nationwide graph shows price rising 2.7 times adjusted for inflation from q3 1983 – q3 2007. This is 6.5 times in nominal terms.

Residential Land Prices
- Looking at figures for South East England from the same period aug 1983-july 07, it increases further, 13 times nominally - and this was an area with the 3rd lowest increase in nominal terms! (At the bottom of the page - 'download the full residential land value data')

The excellent film RealEstate4Ransom may help explain things, or the transcript may be quicker.

Also a less mentioned part of the increase in 'value' is as Positive Money point out the amount of debt created to purchase one.

succulentpork -> Febo , 2 Jan 2014 05:45
There is no reason that interest can't be paid from the existing stock of money. Play a game of monopoly and you will see that it is possible. Your argument has a false composition within it. The central bank is an arm of the government to all intents and purposes. To consider it as a case of the private sector holding the government over a barrel is silly. The state is the one with a monopoly over money.
Artusov , 2 Jan 2014 05:25
It's fairly simple. Split Banking into ' High Street ' stuff [ as in the good old days ] and the newer riskier stuff . You could even have a State Bank. If an investment company goes bust - let them - no bail outs - no public money. is lost. Have people who know what they are doing in the Treasury and FSA - This hasn't happened so far.

Have a sensible rate of higher tax , get them to spend it here and /or tax luxury goods at higher rates. Rich people like to spend money - encourage it. Encourage philanthropy, endowments to Universities etc.

EllisWyatt -> ATrueFinn , 2 Jan 2014 05:16

Communism has not been tried anywhere, so you don't know whether it works or not. Neoliberalism has now been tried quite enough for us to know that it does not

No what you call neoliberalism might have been tried but not true neoliberalism, that will work brilliantly, all you need to do is give me the reigns of power and let me get on with it, trust me...

Not convinced? about as convincing as your claim that communism has not been properly tried so maybe we should give it a go?

Artusov -> botany , 2 Jan 2014 04:22
' Tobin tax on financial transactions can be of help. '

Unless universally applied [ AND done properly ] this would be an extremely STUPID idea. Do you think for one moment that Wall Street [ or even, say, Moscow ] would ever do this ? The following points should be noted :-

1. Tried in Sweden - didn't work and abandoned

2. 70 % would come from the City - to disappear into the EU coffers never to be seen again apart from extra lunch portions for Van Rumpy Pumpy and his unelected catamites

3. A perfectly respectable international business may need to transfer collateral [ security ] from one subsidiary to another every day [ to cope with different trading zones ]. This sort of transaction happens hundreds of thousands of time a day in the City - twice a day at 0.1 % over 250 trading days for a £ 1 million, say, is a huge amount of money.

So what will happen ? - the tax will either get handed on to the customer [ which may well be a pensioner's or worker's Pension Fund ]

OR gets done in a more expensive way [ again , cost handed on to customer ]

OR Firm decamps elsewhere

IE - NO-ONE BENEFITS

The armchair anarchists and toy-town Trots may jump and down with glee but the City provides a significant chunk of GDP - If you want to be Greece but without the sunshine or being bailed out by the the Germans then so be it.

Febo -> succulentpork , 2 Jan 2014 04:18

If I understand you correctly, I think you are suggesting that to pay interest more money must be created as debt. I've seen this suggested quite often but I think it is a fallacy of composition.

If you were to think about money as a fixed quantity of gold you could pose the same question, how could interest be paid out on the gold in more gold? Quite easily, some of the gold just gets called interest payments as it changes hands, and that's it. No new gold is required.

Under a gold standard interest is paid by the "natural" growth in the money supply resulting from gold mining.
Under a fiat system the only way the intest could be paid would be if non-debt based money were issued which would require monetary reform. Yes, that's right, under our system the govt cannot issue money - it must borrow it from the central bank, which, in the case of the USA, is a group of private banks.

wh1952 -> ATrueFinn , 2 Jan 2014 04:17

The article is about a global issue, not only your backyard. The people of UK can consider themselves lucky compared with billions of others. But what would you care.

Quite. But do you think any one of the "socialists" raging on about nasty neo-liberals and capitalists have twigged that if a fairer system was applied that few in the UK would see any increase in their standard of living?

Freeport -> Mowglia , 2 Jan 2014 04:10

Sure thing mate, it'd be my pleasure! Are you REALLY sure you want to take the risk though?

It would mean you suddenly accumulate a rather large debt...

Nope the debts yours. I just want the cash, and money is bad. Apparently.

Of course we could... financialise the debt. You could roll the debt up and and sell it to people based on whether or not they think you'll pay it. Oh hang on... we've just killed the article because that's bad too.

Freeport -> someoneionceknew , 2 Jan 2014 04:08

It is a transfer.

No. Its an exchange. Each side gets something. Lets take a simple example. I buy a cake at a bakery. I get a cake, in exchange for money. The baker gets money for the cake. The baker (not being a moron) knows how much the ingredients, energy, time and so on the cake has cost. Some of that money goes to pay for these bits of the cake. The remainder is profit. The baker, in turn pays the suppliers. They also know what it cost to get their supplies ready for the baker, and add a little bit more for profit. So... show me the transfer, rather than the exchange.

Profit is income less spending. Somebody else's spending is your income.

Yes. Well done.

ATrueFinn -> Jonesey505 , 2 Jan 2014 03:49

Neither communism or crony capitalism work, so why not a free market system

Communism has not been tried anywhere, so you don't know whether it works or not. Neoliberalism has now been tried quite enough for us to know that it does not. Free market inevitably leads to neoliberalism, otherwise it is not free.

CaptCrash -> bilejones , 2 Jan 2014 03:44
That's right blame the only body which is accountable to you, and can be controlled by you, if only you'd get off your arse
frontalcortexes -> Denny O'Connor , 2 Jan 2014 03:43
It is always amusing to watch the rantings of someone living in the safest, most prosperous, more socially equal, society in the history of man ranting and raving for Communism or a Benevolent Dictator, or something; anything but this.

Were it in my power I would cheerfully transport you to the 12th Century where you could enjoy the benefits of living (shortly) free of Financialism.

Why not make it the 4th century and the collapse of the Western Roman Empire through excessive debt servitude? Or indeed fast forward into the 21st century with the decline of Western capitalist economies for the same reason and the undesirable triumph of Chinese Communist market capitalism through its use of Abba Lerner's Functional Finance?

Tenthred -> grauniadreader101 , 2 Jan 2014 03:40
"I think Christ's attack on the money lenders (which may have been a big part of what cost him his life) and the Islamic prohibition of usury falls into this category. Look what lending money at interest has done to our society."

I agree, and it surely lies at the root of the whole financial mess. if we hadn't allowed interest, the whole confection of finance divorced from enabling trade would not have arisen in the first place.

Diverting from the topic a bit, I'm not so sure about your first paragraph. I'm always struck by a thing the great traveller Freya Stark said:

"I think, with the possible exception of the act of love, water rights have caused more trouble than anything else in human history"

But I am not qualified to discuss the role of Sin - though I'm very grateful for your introduction of it to this threadlet, where it has born much fruit of useful points - so I'll have to leave the ethics there, I think!

ATrueFinn -> greensox , 2 Jan 2014 03:39
The Nordic countries did rather well until quite recently. Then the Neoliberalist religion arrived.
botany , 2 Jan 2014 03:37
Tobin tax on financial transactions can be of help.

We tax the food for children but not speculators play with money. France and Germany can take the lead to let the computers send a small sum on every transaction back to the people. That would be one of the few good things from EU. Otherwise let poor people starve and let the speculators play to death of our countries.

ATrueFinn -> wh1952 , 2 Jan 2014 03:37

So how many people rely on food banks? Is it half of us? One in ten, one in a hundred, one in a thousand?

The article is about a global issue, not only your backyard. The people of UK can consider themselves lucky compared with billions of others. But what would you care.

Daveinireland -> Diogenes44 , 2 Jan 2014 03:16

1. Public banking - it has no ties to corporate/international banking. N. or S. Dakota's "public bank" - begun about 90 years ago by a bunch of conservative farmers who despised the rise of bankster power.

How is this a model? The Bank of North Dakota operates more like the Bank of England than a retail bank, it doesn't offer retail services except for student loans.

2. Community-based markets - see the most famous one in Spain.
There are several one in all places, Ohio.

You may as well offer up the edinburgh bicycle cooperative as a model. Co-op exist all over the work, but they are a rounding error in the global economy. There is a place for them, but they are not going to take over from companies.

ATrueFinn -> KatieL , 2 Jan 2014 02:51

the capitalism which lets people pile up enough money to fund billion-dollar research programmes.

Such programmes are mostly funded by governments using tax money. Even in pharmaceutics the fundamental innovations and inventions are largely done in universities.

Little to do with your capitalism. Well, except that the profits of your benevolent pharmaceutical companies are exceptionally high.

hugaddict , 2 Jan 2014 02:48

Reversing financialisation is about reining in the rampant capitalism of our day.

The financial sector, CEOs, oligarchs etc run on good old fashioned greed - a commodity not about to run out anytime soon. Is it even 'reversible' ?

steverandomno , 1 Jan 2014 21:54
To summarize, you imply that capitalism and 'the market' are exemplified by government bailouts of massively overinflated banks, to allow them to continue benefiting from government created arbitrages of securitized debt and artificial regulatory economies of scale.

You go on to suggest that people's choices of dependence on large financial corporations is bad, but then imply that they would be better off if they were instead dependent on a single monopoly corporation to which they have no choice in belonging.

This is the problem with almost all attacks on capitalism and free markets. They incorrectly ascribe our present system to the same and fail to recognise the similarities between dysfunctional private and public corporate entities.

KSurin -> succulentpork , 1 Jan 2014 20:34

Making up a term - financialisation - and using to describe all use of money and also certain aspects of finance itself actual makes analysing problems harder. You are actually over generalising which makes you prone to creating narrative fallacies.

Porky, the term 'financialisation' has wide currency in economics, and refers to a specific set of transformations in the structure of accumulation. It is not used 'to describe all banking', etc. The Oxford-trained economist Thomas Palley provides this succinct definition of it:

Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes.

Financialization transforms the functioning of economic systems at both the macro and micro levels.

Its principal impacts are to (1) elevate the significance of the financial sector relative to the real sector, (2) transfer income from the real sector to the financial sector, and (3) increase income inequality and contribute to wage stagnation. Additionally, there are reasons to believe that financialization may put the economy at risk of debt deflation and prolonged recession.

Financialization operates through three different conduits: changes in the structure and operation of financial markets, changes in the behavior of nonfinancial corporations, and changes in economic policy.

Countering financialization calls for a multifaceted agenda that (1) restores policy control over financial markets, (2) challenges the neoliberal economic policy paradigm encouraged by financialization, (3) makes corporations responsive to interests of stakeholders other than just financial markets, and (4) reforms the political process so as to diminish the influence of corporations and wealthy elites.

See http://www.levyinstitute.org/pubs/wp_525.pdf

paradise33 , 1 Jan 2014 20:30
The financialisation of UK society reached a farcical nadir when the DWP began describing benefit claimants as 'customers'.

Interestingly, in this case the 'customer' is frequently 'wrong' - and is punished accordingly.

Elephantmoth -> wh1952 , 1 Jan 2014 20:28
For some, 'Too much is not enough'. If you want the facts about who is paying for the worship of individual whims, see this:
http://www.poverty.ac.uk/sites/default/files/attachments/The_Impoverishment_of_the_UK_PSE_UK_first_results_summary_report_March_28.pdf
KSurin -> selfraisingfred , 1 Jan 2014 19:54

They used interest rates to control inflation, come what may, which is precisely what Maggie instigated after any ideas of cooperation had been rejected by the unions, during Callaghan's time in office.

Thatcher used interest rates to create unemployment, not control inflation.

Sir Alan Budd (a top Treasury civil servant and Thatcher adviser, a strong supporter of monetarism, who became Provost of The Queen's College, Oxford) let this cat out of the bag:

"The Thatcher government never believed for a moment that [monetarism] was the correct way to bring down inflation. They did however see that this would be a very good way to raise unemployment. And raising unemployment was an extremely desirable way of reducing the strength of the working classes. [...] What was engineered – in Marxist terms – was a crisis of capitalism which re- created the reserve army of labour, and has allowed the capitalists to make high profits ever since."

Quoted in Nick Cohen, "Gambling with our future", New Statesman, 13 January 2003, page 13.

Raytrek -> kimdriver , 1 Jan 2014 19:54
The way I see it is you have the elite class, made of leaders, executives, industrialists, experts, then you have the common hordes.

Common people are like a horse, the elite are like the rider, the horse doesn't mind the rider, the rider is firm with the reigns and keeps the horse controlled, but then if the rider starts to pull too firmly on the reins, the bridle causes discomfort, even pain, to the horse, with the crop whipping and the spurs digging in, you push the horse too far and it will throw you.

The rider will inevitably, albeit gingerly, get back in the saddle, a little wiser. I have no problem with this setup, but I know the rider has a short memory, and it is a case of taking care of all your horses, not just the one you ride, because nags are always trouble and they are worth a lot more when well taken care of.

This is a bad analogy, I know, but it is basically true; a phenomenal amount of problems in communities and the world are due to inadequacies, unfortunately the symptoms of these inadequacies are also big business and the economy would be disturbed by solving them, so we see "austerity" preserving what we should be curing.

mereEngineer , 1 Jan 2014 19:53
Make Bank executives personally responsible for the liabilities of the banks they are directors of. Just like entrepreneurs are often personally responsible for their companies debts.
londongapp , 1 Jan 2014 19:44
I am not sure I would use the description of 'Financialisation'. I would describe it more as the difference between wealth and money. Money is a means of exchange. It is not wealth. In London it is possible to buy a one bedroomed flat for over one million pounds. In some parts of the country a similar flat could be bought for forty thousand pounds or less. The wealth is the property and the money is the means of exchange. Just because my house goes up in value does not mean I have more wealth. My house is unchanged. It is true that if I sold my house and realised the money I might then be able buy a similar house for less money else where. Then with the surplus money I could exchange that for more wealth in the form of goods elsewhere. However as a society no wealth has been generated.
Only if money is used to create wealth in the form of goods and some services does wealth of society increase.
It is the essential difference between wealth and money that is constantly missed by Politicians and Economists.
Herbolzheim -> someoneionceknew , 1 Jan 2014 19:43
of course you are right

left and right, governments - ideally democratically elected - have bossed markets. sometimes rightly so.

Herbolzheim -> MawalTrees , 1 Jan 2014 19:40
good post mate. Thanks for taking the time

Raytrek -> kimdriver , 1 Jan 2014 19:39
Ideally it would be about drawing lines of decency between rights and responsibility; of course everyone wants more rights than responsibility and will fight for that, wether they are just an ordinary person or someone who actually has a high impact sphere of influence, and most people will allow that person that right because they view thing in terms relative to their own context and basically want the same thing.

It isn't about doing anything at gun point, it is about drawing clear lines of decency between rights and responsibility, at which point it becomes a case of people knowing what they and others can and cannot, should and should not, get away with. It isn't about punishment or forcing people to do this or that, it is about natural repercussion that comes from inconsiderate behaviour, it is about logically creating an environment that doesn't want to see you lynched.

[Oct 06, 2017] Prof. Philip Mirowski keynote for Life and Debt conference

Highly recommended!
Among interesting ideas that Mirkowski presented in this lecture are "privatization of science" -- when well paid intellectual prostitutes produce the reuslt which are expected by their handlers. the other is his thought on the difference between neoclassical economics and neoliberalism. Neoliberalism believes in state intervention and this intervention should take the form of enforcing market on all spheres of human society.
Another interesting idea that neoliberalism in many cases doe not need the success of its ideas. The failure can also be exploited for enforcing "more market" on the society.
In other words market fundamentalism has all features of civil religion and like in Middle Ages it is enforced from above. heretics are not burned at the stake but simply ostracized.
Notable quotes:
"... how it is that science came to be subordinate to economics and the very future of nature to be contingent upon the market. ..."
"... As a leading exponent of the Institutional school, he has published formal treatments of financial markets that update Minsky's 'financial instability hypothesis' for the world of computerised derivative trading. ..."
Aug 18, 2013 | www.youtube.com

Life and Debt: Living through the Financialisation of the Biosphere

How can it be that the climate crisis, the biodiversity crisis and the deepest financial crisis since 1930s have done so little to undermine the supremacy of orthodox economics?

The lecture will preview material from Mirowski's new book: Never Lt a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown (Verso, 2013).

In this lecture, Professor Mirowski responds to the question of how it is that science came to be subordinate to economics and the very future of nature to be contingent upon the market. Charting the contradictions of the contemporary political landscape, he notes that science denialism, markets for pollution permits and proposals for geo-engineering can all be understood as political strategies designed to neutralize the impact of environmentalism, as they all originated in the network of corporate-sponsored think-tanks that have made neoliberal accounts of society, politics and the economy so prevalent that even the most profound crises are unable to shake their grip on the political imagination.

For those of us who are still paying attention, the task of constructing an alternative politics of science and markets is a vital one.

Philip Mirowski is Carl E. Koch Professor at the University of Notre Dame, Indiana. His most famous book, More Heat Than Light: Economics as Social Physics (1989) established his reputation as a formidable critic of the scientific status of neoclassical economics. His Machine Dreams: Economics becomes a Cyborg Science (2002) presents a history of the Cold War consolidation of American economic orthodoxy in the same intellectual milieu that produced systems theory, the digital computer, the atomic bomb, the strategy of Mutually Assured Destruction, and the 'think tank'. The Road from Mont Pelerin: the Making of the Neoliberal Thought Collective (with Dieter Plewhe, 2009), drawn from the archives of the Mont Pelerin Society and the Chicago School, presents a scholarly history of neoliberalism: the political movement initiated by Friedrich Hayek and Milton Friedman in the 1940s, which has since become the world's dominant philosophy of government.

As a leading exponent of the Institutional school, he has published formal treatments of financial markets that update Minsky's 'financial instability hypothesis' for the world of computerised derivative trading.

This lecture is presented by the UTS Cosmopolitan Civil Societies Research Centre and the Australian Working Group on Financialisation at the University of Sydney.

[Oct 06, 2017] How Economists Turned Corporations into Predators

Highly recommended!
The idea the a scientist can be a gangster was probably first presented by Sir Arthur Conan Doyle in his famous Sherlock Holmes detective stories. Neoliberalism just made this a reality. Mass production of "scientific gangsters" is an immanent feature of neoliberalism.
Notable quotes:
"... By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website ..."
"... The Idea That Businesses Exist Solely to Enrich Shareholders Is Harmful Nonsense ..."
"... Neil Fligstein wrote a good book awhile back called The Transformation of Corporate Control that shows how most large manufacturing companies were initially run by engineers, then sales people, then finance people (as corporations came to be seen as bundles of assets as opposed to businesses). I think this transformation paralleled the rise of neoclassical economics. So, not so much "chicken-and-egg" as "class war." In Germany, at least until recently, I believe CEO's of manufacturing firms were still disproportionately engineers. ..."
"... a group of hedge fund activists can suck the value that you've created right out, driving your company down and making you worse off and the company financially fragile ..."
"... That means transforming business education, including the replacement of agency theory with innovation theory ..."
"... since gigantism is the norm, rather than family run farms in a mostly agrarian economy such failures are catastrophic. The linkage between these elephants tends to create systemic risk. Previously, failure was small and isolated. ..."
"... Welcome to our wonderful new world of infinite mutual vulnerability! Risk On! Nuclear weapons, Equifax, Googleamazon, NSApanopticon, FIRE, hacking, crapification The Soviet Union vanished as an entity, many starved, but the mopes there at least still knew how to raise up edible crops and live on "less" and maybe do better collective response to that sharp peak on the entropy curve. Wonder how things might play out exceptionally, here in the Empire? ..."
"... It should be noted that Michael Jensen of HBS, one of the originators of the `maximize shareholder value' of corporate governance, is on some short lists for this year's not-exactly-the-Nobel Prize in Economics. ..."
Oct 06, 2017 | www.nakedcapitalism.com

By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website

The Idea That Businesses Exist Solely to Enrich Shareholders Is Harmful Nonsense

In a new INET paper featured in the Financial Times , economist William Lazonick lays out a theory about how corporations can work for everyone – not just a few executives and Wall Streeters. He challenges a set of controversial ideas that became gospel in business schools and the mainstream media starting in the 1980s. He sat down with INET's Lynn Parramore to discuss.

Lynn Parramore: Since the 1980s, business schools have touted "agency theory," a controversial set of ideas meant to explain how corporations best operate. Proponents say that you run a business with the goal of channeling money to shareholders instead of, say, creating great products or making any efforts at socially responsible actions such as taking account of climate change. Many now take this view as gospel, even though no less a business titan than Jack Welch, former CEO of GE, called the notion that a company should be run to maximize shareholder value "the dumbest idea in the world." Why did Welch say that?

William Lazonick: Welch made that statement in a 2009 interview , just ahead of the news that GE had lost its S&P Triple-A rating in the midst of the financial crisis. He explained that, "shareholder value is a result, not a strategy" and that a company's "main constituencies are your employees, your customers and your products." During his tenure as GE CEO from 1981 to 2001, Welch had an obsession with increasing the company's stock price and hitting quarterly earnings-per-share targets, but he also understood that revenues come when your company generates innovative products. He knew that the employees' skills and efforts enable the company to develop those products and sell them.

If a publicly-listed corporation succeeds in creating innovative goods or services, then shareholders stand to gain from dividend payments if they hold shares or if they sell at a higher price. But where does the company's value actually come from? It comes from employees who use their collective and cumulative learning to satisfy customers with great products. It follows that these employees are the ones who should be rewarded when the business is a success. We've become blinded to this simple, obvious logic.

LP: What have these academic theorists missed about how companies really operate and perform? How have their views impacted our economy and society?

WL: As I show in my new INET paper " Innovative Enterprise Solves the Agency Problem ," agency theorists don't have a theory of innovative enterprise. That's strange, since they are talking about how companies succeed.

They believe that to be efficient, business corporations should be run to "maximize shareholder value." But as I have argued in another recent INET paper , public shareholders at a company like GE are not investors in the company's productive capabilities.

LP: Wait, as a stockholder I'm not an investor in the company's capabilities?

WL: When you buy shares of a stock, you are not creating value for the company -- you're just a saver who buys shares outstanding on the stock market for the sake of a yield on your financial portfolio. Public shareholders are value extractors , not value creators.

By touting public shareholders as a corporation's value creators, agency theorists lay the groundwork for some very harmful activities. They legitimize "hedge fund activists," for example. These are aggressive corporate predators who buy shares of a company on the stock market and then use the power bestowed upon them by the ill-conceived U.S. proxy voting system, endorsed by the Securities and Exchange Commission (SEC), to demand that the corporation inflate profits by cutting costs. That often means mass layoffs and depressed incomes for anybody who remains. In an industry like pharmaceuticals , the activists also press for extortionate product price increases. The higher profits tend to boost stock prices for the activists and other shareholders if they sell their shares on the market.

LP: So the hedge fund activists are extracting value from a corporation instead of creating it, and yet they are the ones who get enriched.

WL: Right. Agency theory aids and abets this value extraction by advocating, in the name of "maximizing shareholder value," massive distributions to shareholders in the form of dividends for holding shares as well as stock buybacks that you hear about, which give manipulative boosts to stock prices. Activists get rich when they sell the shares. The people who created the value -- the employees -- often get poorer.

###p"downsize-and-distribute" -- something that corporations have been doing since the 1980s, which has resulted in extreme concentration of income among the richest households and the erosion of middle-class employment opportunities.

LP: You've called stock buybacks -- what happens when a company buys back its own shares from the marketplace, often to manipulate the stock price upwards -- the "legalized looting of the U.S. business corporation." What's the problem with this practice?

WL: If you buy shares in Apple, for example, you can get a dividend for holding shares and, possibly, a capital gain when you sell the shares. Since 2012, when Apple made its first dividend payment since 1996, the company has shelled out $57.4 billion as dividends, equivalent to over 22 percent of net income. That's fine. But the company has also spent $157.9 billion on stock buybacks, equal to 62 percent of net income.

Yet the only time in its history that Apple ever raised funds on the public stock market was in 1980, when it collected $97 million in its initial public offering. How can a corporation return capital to parties that never supplied it with capital? It's a very misleading concept.

The vast majority of people who hold Apple's publicly-listed shares have simply bought outstanding shares on the stock market. They have contributed nothing to Apple's value-creating capabilities. That includes veteran corporate raider Carl Icahn, who raked in $2 billion by holding $3.6 billion in Apple shares for about 32 months, while using his influence to encourage Apple to do $80.3 billion in buybacks in 2014-2015, the largest repurchases ever. Over this period, Apple, the most cash-rich company in history, increased its debt by $47.6 billion to do buybacks so that it would not have to repatriate its offshore profits, sheltered from U.S. corporate taxes.

There are many ways in which the company could have returned its profits to employees and taxpayers -- the real value creators -- that are consistent with an innovative business model. Instead, in doing massive buybacks, Apple's board (which includes former Vice President Al Gore) has endorsed legalized looting. The SEC bears a lot of blame. It's supposed to protect investors and make sure financial markets are free of manipulation. But back in 1982, the SEC bought into agency theory under Reagan and came up with a rule that gives corporate executives a "safe harbor" against charges of stock-price manipulation when they do billions of dollars of buybacks for the sole purpose of manipulating their company's stock price.

LP: But don't shareholders deserve some of the profits as part owners of the corporation?

WL: Let's say you buy stock in General Motors. You are just buying a share that is outstanding on the market. You are contributing nothing to the company. And you will only buy the shares because the stock market is highly liquid, enabling you to easily sell some or all of the shares at any moment that you so choose.

In contrast, people who work for General Motors supply skill and effort to generate the company's innovative products. They are making productive contributions with expectations that, if the innovative strategy is successful, they will share in the gains -- a bigger paycheck, employment security, a promotion. In providing their labor services, these employees are the real value creators whose economic futures are at risk.

LP: This is really different from what a lot of us have been taught to believe. An employee gets a paycheck for showing up at work -- there's your reward. When we take a job, we probably don't expect management to see us as risk-takers entitled to share in the profits unless we're pretty high up.

WL: If you work for a company, even if its innovative strategy is a big success, you run a big risk because under the current regime of "maximizing shareholder value" a group of hedge fund activists can suck the value that you've created right out, driving your company down and making you worse off and the company financially fragile. And they are not the only predators you have to deal with. Incentivized with huge amounts of stock-based pay, senior corporate executives will, and often do, extract value from the company for their own personal gain -- at your expense. As Professor Jang-Sup Shin and I argue in a forthcoming book, senior executives often become value-extracting insiders. And they open the corporate coffers to hedge fund activists, the value-extracting outsiders. Large institutional investors can use their proxy votes to support corporate raids, acting as value-extracting enablers.

You put in your ideas, knowledge, time, and effort to make the company a huge success, and still you may get laid off or find your paycheck shrinking. The losers are not only the mass of corporate employees -- if you're a taxpayer, your money provides the business corporation with physical infrastructure, like roads and bridges, and human knowledge, like scientific discoveries, that it needs to innovate and profit. Senior corporate executives are constantly complaining that they need lower corporate taxes in order to compete, when what they really want is more cash to distribute to shareholders and boost stock prices. In that system, they win but the rest of us lose .

LP: Some academics say that hedge fund activism is great because it makes a company run better and produce higher profits. Others say, "No, Wall Streeters shouldn't have more say than executives who know better how to run the company." You say that both of these camps have got it wrong. How so?

WL: A company has to be run by executive insiders, and in order to produce innovation these executives have got to do three things:

First you need a resource-allocation strategy that, in the face of uncertainty, seeks to generate high-quality, low-cost products. Second, you need to implement that strategy through training, retaining, motivating, and rewarding employees, upon whom the development and utilization of the organization's productive capabilities depend. Third, you have to mobilize and leverage the company's cash flow to support the innovative strategy. But under the sway of the "maximizing shareholder value" idea, many senior corporate executives have been unwilling, and often unable, to perform these value-creating functions. Agency theorists have got it so backwards that they actually celebrate the virtues of " the value extracting CEO ." How strange is that?

Massive stock buybacks is where the incentives of corporate executives who extract value align with the interests of hedge fund activists who also want to suck value from a corporation. When they promote this kind of alliance, agency theorists have in effect served as academic agents of activist aggression. Lacking a theory of the value-creating firm, or what I call a "theory of innovative enterprise," agency theorists cannot imagine what an executive who creates value actually does. They don't see that it's crucial to align executives' interests with the value-creating investment requirements of the organizations over which they exercise strategic control. This intellectual deficit is not unique to agency theorists; it is inherent in their training in neoclassical economics .

LP: So if shareholders and executives are too often just looting companies to enrich themselves – "value extraction," as you put it – and not caring about long-term success, who is in a better position to decide how to run them, where to allocate resources and so on?

WL: We need to redesign corporate-governance institutions to promote the interests of American households as workers and taxpayers. Because of technological, market, or competitive uncertainties, workers take the risk that the application of their skills and the expenditure of their efforts will be in vain. In financing investments in infrastructure and knowledge, taxpayers make productive capabilities available to business enterprises, but with no guaranteed return on those investments.

These stakeholders need to have representation on corporate boards of directors. Predators, including self-serving corporate executives and greed-driven shareholder activists, should certainly not have representation on corporate boards.

LP: Sounds like we've lost sight of what a business needs to do to be successful in the long run, and it's costing everybody except a handful of senior executives, hedge fund managers, and Wall Street bankers. How would your "innovation theory" help companies run better and make for a healthier economy and society?

WL: Major corporations are key to the operation and performance of the economy. So we need a revolution in corporate governance to get us back on track to stable and equitable economic growth. Besides changing board representation, I would change the incentives for top executives so that they are rewarded for allocating corporate resources to value creation. Senior executives should gain along with the rest of the organization when the corporation is successful in generating competitive products while sharing the gains with workers and taxpayers.

Innovation theory calls for changing the mindsets and skill sets of senior executives. That means transforming business education, including the replacement of agency theory with innovation theory. That also means changing the career paths through which corporate personnel can rise to positions of strategic control, so that leaders who create value get rewarded and those who extract it are disfavored. At the institutional level, it would be great to see the SEC, as the regulator of financial markets, take a giant step in supporting value creation by banning stock buybacks whose purpose it is to manipulate stock prices.

To get from here to there, we have to replace nonsense with common sense in our understanding of how business enterprises operate and perform.

Enquiring Mind , October 6, 2017 at 10:44 am

Owners come first!
That was the slogan of our former board chair. He didn't disclose to the employees that his compensation was influenced mightily by how big the net income was. He did tell the employees that they were well down the hierarchy, after Owners (capital O) and then vendors and then customers. His former employees deserted in droves.

RepubAnon , October 6, 2017 at 12:14 pm

I'd say that maximizing long-term shareholder value is a great idea the problem is, as is so often the case these days, short-term thinking.

Driving away a company's best employees makes that quarter's numbers look better, but destroys long-term value. Same thing for so many other short-term, "I'll be gone, you'll be gone" strategies.

One step to fixing things – change the definition of long-term capital gains from the current 1 year to, say, 5 years. This "one simple trick" would fix everything from the carried interest loophole to the abuses inherent in the current Wall Street gambling mentality.

It won't happen, of course, but it'd be nice.

Tim , October 6, 2017 at 2:21 pm

We can talk about what is best in theory, but reality is just that, shareholders come first.

They control the board and the CEO and the CEO institutes the will of the shareholders down into the business entities, determining the level of reinvestment in the business units and the level of employee compensation. That will continue to be the case until the company goes bankrupt at which point shareholders are entitled to nothing.

I agree with others that Jack Welch is saying what he is saying after the fact. Way too easy to do.

a different chris , October 6, 2017 at 10:47 am

>Welch had an obsession with increasing the company's stock price and hitting quarterly earnings-per-share targets, but he also understood

Yeah so he talks a good game but when he had the reins – one of the most powerful men in the world meekly (ok, that's a hilarious adjective when applied to Jack Welsh) followed the herd. Or more accurately, found out where the herd was heading and got out in front of it. The true sign of modern "leadership".

RepubAnon , October 6, 2017 at 12:20 pm

Folks at GE back in the day nicknamed him "Neutron Jack" – if he visited a site, all the employees disappeared, leaving only the buildings standing

digi_owl , October 6, 2017 at 1:06 pm

Or more accurately, found out where the herd was heading and got out in front of it. The true sign of modern "leadership".

Reminds me of something i have read, supposedly a quite from some politician or other, going to the tune of "i need to find out where the mob is going, so i can lead them there".

Left in Wisconsin , October 6, 2017 at 1:06 pm

Welch's primary business strategy at GE was to exit every product market in which GE's market share was not in the top two in the industry (selling them off or closing them down) and reallocate resources to industries where GE was market dominant, often buying up the competition rather than truly investing in innovation. A truly awful human being.

Synoia , October 6, 2017 at 11:18 am

As I personally have always believed, Employees have more invested in their employers than shareholders. Shareholders can sell quickly and have no loyalty. Employees do not enjoy such a liquid "jobs market."

There also seems to be a turning point in companies, where they change the perception of the customers form a group to be treasured, to a group who are to b exploited – change the relationship so the customers become "marks."

I also believe there should be an almost automatic "break -up" provision for companies who reach a certain market share.

Finally there should be one definition of income, and it should include Wages, Dividends, and Capital Gains.

Vatch , October 6, 2017 at 11:27 am

there should be an almost automatic "break -up" provision for companies who reach a certain market share.

Yes, anti-trust enforcement would be nice. Hypothetical President Sanders might actually do that. Real and hypothetical Presidents Bush, Obama, Romney, B. Clinton, H. Clinton, and Trump have other priorities.

readerOfTeaLeaves , October 6, 2017 at 12:15 pm

Sen Bernie Sanders sees right through the neoclassical fetters, blinders, and bullshit. He recognizes how intellectually and economically stagnant and dangerous it is. He has the most powerful conceptual, articulate grasp of economics that I've seen the past 40 years. He also, IIRC, had MMTer Stephanie Kelton as an advisor, and had her advise the Senate Finance Committee. Also notable: Sen Elizabeth Warren.

The other political operators that you mention are still in thrall to neoclassical assumptions. They mistake 'takers' for 'makers' and are economically bamboozled. And it has worked out well for all of them, on a personal basis, so it is not surprising that they don't see the problems.

Anyone actually trying to build an innovative business, OTOH, has to see through the bamboozlement or else you're out of business pronto.

JTMcPhee , October 6, 2017 at 12:05 pm

Chicken and egg question:

The class of humans that by inclination and opportunity become C-Suite and VC looters and "owners:" did they precede the imprimatur of "economists" with their notions of price, value, and crossing of curves, or did the "economists" do a Martin Luther, nail up a bunch of theses, and preach fire and brimstone to turn the greedheads loose?

And was/is any other outcome for the species and the planet even possible?

Left in Wisconsin , October 6, 2017 at 1:14 pm

Neil Fligstein wrote a good book awhile back called The Transformation of Corporate Control that shows how most large manufacturing companies were initially run by engineers, then sales people, then finance people (as corporations came to be seen as bundles of assets as opposed to businesses). I think this transformation paralleled the rise of neoclassical economics. So, not so much "chicken-and-egg" as "class war." In Germany, at least until recently, I believe CEO's of manufacturing firms were still disproportionately engineers.

Carla , October 6, 2017 at 3:05 pm

"most large manufacturing companies were initially run by engineers, then sales people, then finance people"

The Lincoln Electric Company, which became famous for its "Incentive Management" program of compensating employees, was a client of mine. Over three decades I saw it progress through precisely those stages, and gradually lose every characteristic that had made the company unique.

readerOfTeaLeaves , October 6, 2017 at 12:30 pm

This post was a genuine pleasure to read. Especially:

If you work for a company, even if its innovative strategy is a big success, you run a big risk because under the current regime of "maximizing shareholder value" a group of hedge fund activists can suck the value that you've created right out, driving your company down and making you worse off and the company financially fragile .

And we've had a government by and for hedge fund managers for about the same amount of time that we've had economic woes. One problem is that hedge funders like Romney, who actually don't think about consumer product development, actually don't have to test and deploy products, bring their bean-counter assumptions to business and make a hash of things. I mention Romney specifically, because he presents himself to the world as a paragon of economic wisdom.

Romney has a prestigious business school background. Which makes me want to highlight this:

Innovation theory calls for changing the mindsets and skill sets of senior executives. That means transforming business education, including the replacement of agency theory with innovation theory .

JTMcPhee , October 6, 2017 at 12:59 pm

Just a thought: "innovation theory," like MMT, is maybe just a tool set? "Innovation" includes "autonomous combat devices," and CRSP-R, and nuclear weapons, and the F-35, and fracking, and derivatives, and plastics, and charter schools, stuff and ideas that for some of us constitute "value" are corporations as the category has grown to be, any more likely to "innovate" in the areas of social improvements and possibilities, or stewardship of the planet, or close down the toll stations and all the other rent collection scams and extortions they have "innovated" to date? Or release their chokehold on "policy?"

Says the proponent: "Major corporations are key to the operation and performance of the economy. So we need a revolution in corporate governance to get us back on track to stable and equitable economic growth. Besides changing board representation, I would change the incentives for top executives so they are rewarded for allocating corporate resources to value creation. Senior executives should gain along with the rest of the organization when the corporation is successful in generating competitive products while sharing the gains with workers and taxpayers." There seems to be so much wrong and just more Biz-babble about this, one hardly knows where to start unpacking.

"Major corporations are key?" Really? Monsanto? GM? Bechtel? The Big Banks? And "back on track": When has the political economy, writ small or large, ever been "on track to stability and equitable growth," said "growth' itself seemingly one of the pathologies that's killing us? And who's going to write the entries for the corporate senior executives' dance cards that will measure their "success," in those feel-good categories?

But it's a good conversation piece, and maybe an opening into Something Better, however us inherently mostly self-interested, self-pleasing omnivorous predators might define "better "

Disturbed Voter , October 6, 2017 at 12:36 pm

Badly run companies, naturally extinguish themselves. Unfortunately they take down their customers, owners, vendors and employees in the process. But the government can step in and either save a company that otherwise would die, or act as a crony corruption partner on behalf of a well connected company. Same as it always was.

But since gigantism is the norm, rather than family run farms in a mostly agrarian economy such failures are catastrophic. The linkage between these elephants tends to create systemic risk. Previously, failure was small and isolated.

JTMcPhee , October 6, 2017 at 1:06 pm

Welcome to our wonderful new world of infinite mutual vulnerability! Risk On! Nuclear weapons, Equifax, Googleamazon, NSApanopticon, FIRE, hacking, crapification The Soviet Union vanished as an entity, many starved, but the mopes there at least still knew how to raise up edible crops and live on "less" and maybe do better collective response to that sharp peak on the entropy curve. Wonder how things might play out exceptionally, here in the Empire?

allan , October 6, 2017 at 12:48 pm

It should be noted that Michael Jensen of HBS, one of the originators of the `maximize shareholder value' of corporate governance, is on some short lists for this year's not-exactly-the-Nobel Prize in Economics.

[Oct 01, 2017] Bulletproof Neoliberalism by Paul Heideman

Highly recommended!
Notable quotes:
"... Mirowski identifies three basic aspects of neoliberalism that the Left has failed to understand: the movement's intellectual history, the way it has transformed everyday life, and what constitutes opposition to it. Until we come to terms with them, Mirowski suggests, right-wing movements such as the Tea Party (a prominent player in the book) will continue to reign triumphant. ..."
"... Joining a long line of thinkers, most famously Karl Polanyi, Mirowski insists that a key error of the Left has been its failure to see that markets are always embedded in other social institutions. Neoliberals, by contrast, grasp this point with both hands -- and therefore seek to reshape all of the institutions of society, including and especially the state, to promote markets. Neoliberal ascendancy has meant not the retreat of the state so much as its remaking. ..."
"... he also recognizes that the neoliberals themselves have been canny about keeping the real nature of their project hidden through a variety of means. Neoliberal institutions tend to have what he calls a "Russian doll" structure, with the most central ones well hidden from public eyes. Mirowski coins an ironic expression, "the Neoliberal Thought Collective," for the innermost entities that formulate the movement's doctrine. The venerable Mont Pelerin Society is an NTC institution. Its ideas are frequently disseminated through venues which, formally at least, are unconnected to the center, such as academic economics departments. Thus, neoclassical economists spread the gospel of the free market while the grand project of remaking the state falls to others. ..."
"... At the same time as neoliberal commonsense trickles down from above, Mirowski argues that it also wells up from below, reinforced by our daily patterns of life. Social networking sites like Facebook encourage people to view themselves as perpetual cultural entrepreneurs, striving to offer a newer and better version of themselves to the world. Sites like LinkedIn prod their users to present themselves as a fungible basket of skills, adjustable to the needs of any employer, without any essential characteristics beyond a requisite subservience. Classical liberalism always assumes the coherent individual self as its basic unit. Neoliberalism, by contrast, sees people as little more than variable bundles of human capital, with no permanent interests or even attributes that cannot be remade through the market. For Mirowski, the proliferation of these forms of everyday neoliberalism constitute a "major reason the neoliberals have emerged from the crisis triumphant." ..."
"... Finally, Mirowski argues that the Left has too often been sucked in by neoliberalism's loyal opposition. Figures like Joseph Stiglitz or Paul Krugman, while critical of austerity and supportive of the welfare state, accept the fundamental neoclassical economic precepts at the heart of neoliberal policy. Mirowski argues that we must ditch this tradition in its entirety. Even attempts to render its assumptions more realistic -- as in the case of behavioral economics, for example, which takes account of the ways real people diverge from the hyperrationality of homo economicus -- provide little succor for those seeking to overturn the neoliberals. ..."
"... Mirowski's insistence on the centrality of the state to the neoliberal project helps correct the unfortunate tendency of many leftists over the past decade to assent to neoliberal nostrums about the obsolescence of the state. Indeed, Mirowski goes further than many other critics who have challenged the supposed retreat of the state under neoliberalism. ..."
"... Loïc Wacquant, for instance, has described the "centaur state" of neoliberalism, in which a humanist liberalism reigns for the upper classes, while the lower classes face the punitive state apparatus in all its bestiality. ..."
"... Mirowski shows us that the world of the rich under neoliberalism in no way corresponds to the laissez-faire of classical liberalism. The state does not so much leave the rich alone as actively work to reshape the world in their interests, helping to create markets for the derivatives and securities that made (and then destroyed) so many of the fortunes of the recent past. The neoliberal state is an eminently interventionist one, and those mistaking it for the austere nightwatchman of libertarian utopianism have little hope of combating it. ..."
"... Mirowski's concern to disabuse his readers of the notion that the wing of neoliberal doctrine disseminated by neoclassical economists could ever be reformed produces some of the best sections of the book. His portrait of an economics profession in haggard disarray in the aftermath of the crisis is both comic and tragic, as the amusement value of the buffoonery on display diminishes quickly when one realizes the prestige still accorded to these figures. Reading his comprehensive examination of the discipline's response to the crisis, one is reminded of Freud's famous broken kettle. The professional economists' account of their role in the crisis went something like (a) there was no bubble and (b) bubbles are impossible to predict but (c) we knew it was a bubble all along. ..."
"... Though Krugman and Stiglitz have attacked concepts like the efficient markets hypothesis (which holds that prices in a competitive financial market reflect all relevant economic information), Mirowski argues that their attempt to do so while retaining the basic theoretical architecture of neoclassicism has rendered them doubly ineffective. ..."
"... First, their adoption of the battery of assumptions that accompany most neoclassical theorizing -- about representative agents, treating information like any other commodity, and so on -- make it nearly impossible to conclusively rebut arguments like the efficient markets hypothesis. ..."
Oct 01, 2017 | www.jacobinmag.com

To understand how a body of thought became an era of capitalism requires more than intellectual history.

"What is going to come after neoliberalism?" It was the question on many radicals' lips, present writer included, after the financial crisis hit in 2008. Though few were so sanguine about our prospects as to repeat the suicidal optimism of previous radical movements ("After Hitler, Our Turn!"), the feeling of the day was that the era of unfettered marketization was coming to a close. A new period of what was loosely referred to as Keynesianism would be the inevitable result of a crisis caused by markets run amok.

Five years later, little has changed. What comes after neoliberalism? More neoliberalism, apparently. The prospects for a revived Left capable of confronting it appear grim.

Enter Philip Mirowski's Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown . Mirowski maintains that the true nature of neoliberalism has gone unrecognized by its would-be critics, allowing the doctrine to flourish even in conditions, such as a massive financial crisis, that would seem to be inimical to its survival. Leftists keep busy tilting at the windmill of deregulation as the giants of neoliberalism go on pillaging unmolested.

Mirowski identifies three basic aspects of neoliberalism that the Left has failed to understand: the movement's intellectual history, the way it has transformed everyday life, and what constitutes opposition to it. Until we come to terms with them, Mirowski suggests, right-wing movements such as the Tea Party (a prominent player in the book) will continue to reign triumphant.

The book begins with the war of ideas -- a conflict in which, Mirowski argues, the Left has been far too generous in taking neoliberals at their word, or at least their best-publicized word. We have, in effect, been suckered by kindly old Milton Friedman telling us how much better off we'd all be if the government simply left us "free to choose." But neoliberals have at times been forthright about their appreciation for the uses of state power. Markets, after all, do not simply create themselves. Joining a long line of thinkers, most famously Karl Polanyi, Mirowski insists that a key error of the Left has been its failure to see that markets are always embedded in other social institutions. Neoliberals, by contrast, grasp this point with both hands -- and therefore seek to reshape all of the institutions of society, including and especially the state, to promote markets. Neoliberal ascendancy has meant not the retreat of the state so much as its remaking.

If Mirowski is often acidic about the Left's failure to understand this point, he also recognizes that the neoliberals themselves have been canny about keeping the real nature of their project hidden through a variety of means. Neoliberal institutions tend to have what he calls a "Russian doll" structure, with the most central ones well hidden from public eyes. Mirowski coins an ironic expression, "the Neoliberal Thought Collective," for the innermost entities that formulate the movement's doctrine. The venerable Mont Pelerin Society is an NTC institution. Its ideas are frequently disseminated through venues which, formally at least, are unconnected to the center, such as academic economics departments. Thus, neoclassical economists spread the gospel of the free market while the grand project of remaking the state falls to others.

At the same time as neoliberal commonsense trickles down from above, Mirowski argues that it also wells up from below, reinforced by our daily patterns of life. Social networking sites like Facebook encourage people to view themselves as perpetual cultural entrepreneurs, striving to offer a newer and better version of themselves to the world. Sites like LinkedIn prod their users to present themselves as a fungible basket of skills, adjustable to the needs of any employer, without any essential characteristics beyond a requisite subservience. Classical liberalism always assumes the coherent individual self as its basic unit. Neoliberalism, by contrast, sees people as little more than variable bundles of human capital, with no permanent interests or even attributes that cannot be remade through the market. For Mirowski, the proliferation of these forms of everyday neoliberalism constitute a "major reason the neoliberals have emerged from the crisis triumphant."

Finally, Mirowski argues that the Left has too often been sucked in by neoliberalism's loyal opposition. Figures like Joseph Stiglitz or Paul Krugman, while critical of austerity and supportive of the welfare state, accept the fundamental neoclassical economic precepts at the heart of neoliberal policy. Mirowski argues that we must ditch this tradition in its entirety. Even attempts to render its assumptions more realistic -- as in the case of behavioral economics, for example, which takes account of the ways real people diverge from the hyperrationality of homo economicus -- provide little succor for those seeking to overturn the neoliberals.

For Mirowski, these three failures of the Left go a long way toward explaining how neoliberals have largely escaped blame for a crisis they created. The Left persistently goes after phantoms like deregulation or smaller government, which neoliberals easily parry by pointing out that the regulatory apparatus has never been bigger. At the same time, we ignore the deep roots of neoliberal ideology in everyday life, deceiving ourselves as to the scale of the task in front of us.

Whatever criticisms of Mirowski's analysis are in order, much of it is compelling, particularly in regard to the intellectual history of the NTC. Mirowski's insistence on the centrality of the state to the neoliberal project helps correct the unfortunate tendency of many leftists over the past decade to assent to neoliberal nostrums about the obsolescence of the state. Indeed, Mirowski goes further than many other critics who have challenged the supposed retreat of the state under neoliberalism.

Loïc Wacquant, for instance, has described the "centaur state" of neoliberalism, in which a humanist liberalism reigns for the upper classes, while the lower classes face the punitive state apparatus in all its bestiality. But Mirowski shows us that the world of the rich under neoliberalism in no way corresponds to the laissez-faire of classical liberalism. The state does not so much leave the rich alone as actively work to reshape the world in their interests, helping to create markets for the derivatives and securities that made (and then destroyed) so many of the fortunes of the recent past. The neoliberal state is an eminently interventionist one, and those mistaking it for the austere nightwatchman of libertarian utopianism have little hope of combating it.

It's here that we begin to see the strategic genius of neoliberal infrastructure, with its teams of college economics professors teaching the wondrous efficacy of supply and demand on the one hand, and the think tanks and policy shops engaged in the relentless pursuit of state power on the other. The Left too often sees inconsistency where in fact there is a division of labor.

Mirowski's concern to disabuse his readers of the notion that the wing of neoliberal doctrine disseminated by neoclassical economists could ever be reformed produces some of the best sections of the book. His portrait of an economics profession in haggard disarray in the aftermath of the crisis is both comic and tragic, as the amusement value of the buffoonery on display diminishes quickly when one realizes the prestige still accorded to these figures. Reading his comprehensive examination of the discipline's response to the crisis, one is reminded of Freud's famous broken kettle. The professional economists' account of their role in the crisis went something like (a) there was no bubble and (b) bubbles are impossible to predict but (c) we knew it was a bubble all along.

Incoherence notwithstanding, however, little in the discipline has changed in the wake of the crisis. Mirowski thinks that this is at least in part a result of the impotence of the loyal opposition -- those economists such as Joseph Stiglitz or Paul Krugman who attempt to oppose the more viciously neoliberal articulations of economic theory from within the camp of neoclassical economics. Though Krugman and Stiglitz have attacked concepts like the efficient markets hypothesis (which holds that prices in a competitive financial market reflect all relevant economic information), Mirowski argues that their attempt to do so while retaining the basic theoretical architecture of neoclassicism has rendered them doubly ineffective.

First, their adoption of the battery of assumptions that accompany most neoclassical theorizing -- about representative agents, treating information like any other commodity, and so on -- make it nearly impossible to conclusively rebut arguments like the efficient markets hypothesis. Instead, they end up tinkering with it, introducing a nuance here or a qualification there. This tinkering causes their arguments to be more or less ignored in neoclassical pedagogy, as economists more favorably inclined toward hard neoliberal arguments can easily ignore such revisions and hold that the basic thrust of the theory is still correct. Stiglitz's and Krugman's arguments, while receiving circulation through the popular press, utterly fail to transform the discipline.

Mirowski also heaps scorn on the suggestion, sometimes made in leftist circles, that the problem at the heart of neoclassical economics is its assumption of a hyperrational homo economicus , relentlessly comparing equilibrium states and maximizing utility. Though such a revision may be appealing to a certain radical romanticism, Mirowski shows that a good deal of work going on under the label of behavioral economics has performed just this revision, and has come up with results that don't differ substantively from those of the mainstream. The main problem with neoclassicism isn't its theory of the human agent but rather its the theory of the market -- which is precisely what behavioral economics isn't interested in contesting.

In all, Mirowski's indictment of the state of economic theory and its imbrication with the neoliberal project is devastating. Unfortunately, he proves much less successful in explaining why things have turned out as they have. The book ascribes tremendous power to the Neoliberal Thought Collective, which somehow manages to do everything from controlling the economics profession to reshaping the state to forging a new sense of the human self. The reader is left wondering how the NTC came to acquire such power. This leads to the book's central flaw: a lack of any theory of the structure of modern capitalism. Indeed, the NTC seems to operate in something of a vacuum, without ever confronting other institutions or groups, such as the state or popular movements, with interests and agendas of their own.

To be fair, Mirowski does offer an explanation for the failure of popular movements to challenge neoliberalism, largely through his account of "everyday" neoliberalism. At its strongest, the book identifies important strategic failures, such as Occupy's embrace of "a mimicry of media technologies as opposed to concerted political mobilization." However, Mirowski extends the argument well beyond a specific failure of the Occupy movement to propose a general thesis that developments like Facebook and reality TV have transmitted neoliberal ideology to people who have never read Friedman and Hayek. In claiming that this embodied or embedded ideology plays an important role in the failure of the Left, he places far more explanatory weight on the concept of everyday neoliberalism than it is capable of bearing.

At the simplest level, it's just not clear that everyday neoliberalism constitutes the kind of block to political action that Mirowski thinks it does. No doubt, many people reading this article right now simultaneously have another browser tab open to monster.com or LinkedIn, where they are striving to present themselves as a fungible basket of skills to any employer that will have them. In this economy, everyone has to hustle, and that means using all available means. That many of these same readers have probably also done things like organize against foreclosures should give pause to any blurring of the distinction between using various media technologies and embracing the ideology Mirowski sees embodied in them.

Indeed, the ubiquity of participation in such technologies by people who support, oppose, or are apathetic about neoliberalism points to a larger phenomenon on which Mirowski is silent: the labor market. Put bluntly, it is difficult to imagine anyone engaging in the painfully strained self-advertisement facilitated by LinkedIn in a labor market with, say, 2-percent unemployment. In such a market, in which employers were competing for comparatively scarce workers, there would be very little need for those workers to go through the self-abasing ritual of converting themselves into fungible baskets of skills. In our current situation, by contrast, where secure and remunerative employment is comparatively scarce, it is no surprise that people turn to whatever technologies are available to attempt to sell themselves. As Joan Robinson put it, the only thing worse than being exploited by capitalism is not being exploited by it.

In evaluating the role of everyday neoliberalism, it is also helpful to move, for the moment, beyond the perspective of the United States, where the NTC has clearly had great success, and adopt that of countries where resistance is significantly more developed, such as Venezuela or South Africa. Especially in the former, popular movements have been notably successful in combating neoliberal efforts to take over the state and reshape the economy, and have instead pushed the country in the opposite direction. Is it really plausible that a main reason for this difference is that everyday neoliberalism is more intense in the United States? I doubt it. For one thing, the strength of Venezuela's radical movements, in comparison with the US, clearly antedates the developments (social media, Here Comes Honey Boo Boo , and so on) that Mirowski discusses.

Moreover, it is just as plausible that the entrepreneurial culture he describes is even more extensive in the slums of the global South, where neoliberal devastation has forced many poor households to rely on at least one family member engaging in semi-legal arbitrage in goods salvaged from garbage or made at home. Surely such activities provide a firmer foundation for commercial subjectivity than having a 401(k). That resistance has grown in such circumstances suggests that looking to malignant subjectivities to explain popular passivity is an analytic dead-end.

If everyday neoliberalism doesn't explain the comparative weakness of the US left, what does? This is, of course, the key question, and I can do no more than gesture at an answer here. But I would suggest that the specific histories of the institutions of the American left, from the Communist Party to Students for a Democratic Society to labor unions, and the histories of the situations they confronted, provide us with a more solid foundation for understanding our current weakness than the hegemony of neoliberal culture does. Moreover, with a theory of capitalism that emphasizes the way the structure of the system makes it both necessary and very difficult for most people to organize to advance their interests, it becomes very easy to explain the persistence of a low level of popular mobilization against neoliberalism in the context of a weakened left.

If Mirowski's account doesn't give us a good basis for explaining why popular resistance has been so lacking in the US, it nonetheless suggests why he is so concerned with explaining the supposed dominance of neoliberal ideology among the general population. From the beginning, he raises the specter of right-wing resurgence, whether in the form of Scott Walker surviving the recall campaign in Wisconsin, the Tea Party mania of 2010, or the success of right-wing parties in Europe. However, much of this seems overstated, especially from a contemporary perspective. The Tea Party has, for all intents and purposes, disappeared from the front lines of American politics, and the Republican Party, while capable of enacting all kinds of sadistic policies on the state level, has remained in a state of disarray on the national level since the 2006 congressional elections.

More fundamentally, the argument that the voting public embraces neoliberalism doesn't square well with recent research by political scientists like Larry Bartels and Martin Gilens emphasizing the profound disconnect between the policy preferences of the poor and what transpires in Washington. What appears to be happening is less the general populace's incorporation into neoliberalism than their exclusion from any institutions that would allow them to change it. Importantly, this alternative explanation does not rely on the Left conceit that rebellion lurks perpetually just below the placid social surface, ready to explode into radical insurgency at any moment. It simply contends that the political passivity of neoliberalism's victims reflects a real diminution of their political options.

Mirowski's failure to address these larger institutional and structural dynamics vitiates much of the explanatory power of his book. On a purely descriptive level, the sections on the intellectual history of neoliberalism and the non-crisis of neoclassical economics illuminate many of the hidden corners of neoliberal ideology. However, if Mirowski is right to suggest that we need to understand neoliberalism better to be successful in fighting it -- and he surely is -- then much more is needed to explain neoliberal success and Left failure.

To understand how a body of thought became an era of capitalism requires more than intellectual history. It demands an account of how capitalism actually works in the period in question, and how the ideas of a small group of intellectuals came to be the policy preferences of the rich. Mirowski has given us an excellent foundation for understanding the doctrine, but it will remain for others to explain its actual development.

https://staticxx.facebook.com/connect/xd_arbiter/r/Z2duorNoYeF.js?version=42#channel=f1c0e2812ec10f6&origin=https%3A%2F%2Fwww.jacobinmag.com

[Sep 25, 2017] Free market as a neoliberal myth, the cornerstone of neoliberalism as a secular religion

Highly recommended!
Notable quotes:
"... Two of my criticisms about Krugman/Friedman, etc is that is 'free markets' are supposed to substitute for policy in the government sphere. Except very telling except when we're talking about funding the security state. ..."
"... The other is that the real power of markets is that in a real free market (not a Potemkin one) decisions are made often at the point where needs, information, incentives, and economic power come together. But where the large scale decisions the governments have to make, markets fail. Policy though doesn't. But Neoliberals hate policy. ..."
"... Well, duh. "Policy" and "Capitalism" don't go together and never have. When you enact policy, you destroy the ability to make profit and you get the 1970's. ..."
"... Free market is a neoliberal myth, the cornerstone of neoliberalism as a secular religion. Somewhat similar to "Immaculate Conception" in Catholicism. ..."
"... In reality market almost by definition is controlled by government, who enforces the rules and punish for the transgressions. ..."
"... Also note interesting Orwellian "corruption of the language" trick neoliberals use: neoliberals talk about "free market, not "fair market". ..."
"... After 2008 few are buying this fairy tale about how markets can operate and can solve society problems independently of political power, and state's instruments of violence (the police and the military). This myths is essentially dead. ..."
"... Friedmanism is this sense a flavor of economic Lysenkoism. Note that Lysenko like Friedman was not a complete charlatan. Some of his ideas were pretty sound and withstood the test of time. But that does not make his less evil. ..."
Jan 06, 2017 | economistsview.typepad.com
anne -> Paul Mathis... , December 31, 2016 at 07:09 PM
Krugman's refusal to endorse fiscal stimulus unless the economy is at zero lower bound. That is not only anti-Keynesian, it plays directly into the hands of the debt fear mongers. (Krugman is also worried about the debt.)

[ Only correct to a degree, economic weakness is recognized. ]

Gibbon1 -> anne... , December 31, 2016 at 10:21 PM
Two of my criticisms about Krugman/Friedman, etc is that is 'free markets' are supposed to substitute for policy in the government sphere. Except very telling except when we're talking about funding the security state.

The other is that the real power of markets is that in a real free market (not a Potemkin one) decisions are made often at the point where needs, information, incentives, and economic power come together. But where the large scale decisions the governments have to make, markets fail. Policy though doesn't. But Neoliberals hate policy.

AngloSaxon -> Gibbon1... , January 01, 2017 at 06:08 PM
Well, duh. "Policy" and "Capitalism" don't go together and never have. When you enact policy, you destroy the ability to make profit and you get the 1970's.
likbez -> Gibbon1... , -1
Free market is a neoliberal myth, the cornerstone of neoliberalism as a secular religion. Somewhat similar to "Immaculate Conception" in Catholicism.

In reality market almost by definition is controlled by government, who enforces the rules and punish for the transgressions.

Also note interesting Orwellian "corruption of the language" trick neoliberals use: neoliberals talk about "free market, not "fair market".

After 2008 few are buying this fairy tale about how markets can operate and can solve society problems independently of political power, and state's instruments of violence (the police and the military). This myths is essentially dead.

But like Adventists did not disappear when the Second Coming of Christ did not occurred in predicted timeframe, neoliberals did not did not disappeared after 2008 either. And neither did neoliberalism, it just entered into zombie, more bloodthirsty stage.

The fact that even the term "neoliberalism" is prohibited in the US MSM also helped. It is king of stealth ideology, unlike say, Marxists, neoliberals do not like to identify themselves as such. The behave more like members of some secret society, free market masons.

Friedmanism is this sense a flavor of economic Lysenkoism. Note that Lysenko like Friedman was not a complete charlatan. Some of his ideas were pretty sound and withstood the test of time. But that does not make his less evil.

And for those who try to embellish this person, I would remind his role in 1973 Chilean coup d'état ( https://en.wikipedia.org/wiki/1973_Chilean_coup_d%27%C3%A9tat ) and bringing Pinochet to power. His "Chicago boys" played a vital role in the events. This man did has blood on his hands.

http://www.bidstrup.com/economics.htm

Of course, bringing a reign of terror to Chile was not why the CIA had sponsored him. The reason he was there was to reverse the gains of the Allende social democracy and return control of the country's economic and political assets to the oligarchy. Pinochet was convinced, through supporters among the academics in the elite Chilean universities, to try a new series of economic policies, called "neoliberal" by their founders, the economists of the University of Chicago, led by an economist by the name of Milton Friedman, who three years later would go on to win a Nobel Prize in Economics for what he was about to unleash upon Chile.

Friedman and his colleagues were referred to by the Chileans as "the Chicago Boys." The term originally meant the economists from the University of Chicago, but as time went on, as their policies began to disliquidate the middle class and poor, it took on a perjorative meaning. That was because as the reforms were implemented, and began to take hold, the results were not what Friedman and company had been predicting. But what were the reforms?

The reforms were what has come to be called "neoliberalism." To understand what "neoliberal" economics is, one must first understand what "liberal" economics are, and so we'll digress briefly from our look at Chile for a quick

[Sep 23, 2017] The Exit Strategy of Empire by Wendy McElro

Highly recommended!
Garrett 's book The People's Pottage The Revolution Was-Ex America-Rise of Empire i ncludes a timeless quote on U.S. foreign policy. "You are imperialistic all the same, whether you realize it or not... You are trying to make the kind of world you want. You are trying to impose the American way of life on other people, whether they want it or not." The "Rise of Empire" opens with the sentence "We have crossed the boundary between Republic and Empire." It contains a critical view of President Truman's usurpation of Congress' power to declare war. Some of the "distinguishing marks" of an empire taken from history were "Domestic policy becomes subordinate to foreign policy" and " A system of satellite nations". I think most of us are would be familiar with those two in modern context. His labeling of this policy as the "Empire of the Bottomless Purse" was historically accurate.
The book was printed in 1953. What's amazing is how little some political ideology has changed since then. Take this quote; "And the mere thought of 'America First', associated as that term is with 'isolationism', has become a liability so extreme that politicians feel obliged to deny ever having entertained it." Think back to Ron Paul's 2008 campaign and how he was labeled an "isolationist" for similar views of nationalism.
Notable quotes:
"... These are not sequential stages of Empire but occur in conjunction with one another and reinforce each other. That means that an attempt to reverse Empire in the direction of a Republic can begin with weakening any of the five characteristics in any order. ..."
"... Deconstructing these executive props, one by one, weakens the Empire. When all five components are deconstructing, the process presents a possible path to dissolving Empire itself. ..."
"... That was why Garrett does not deal with how to reverse the process of Empire. Once an empire is established, he argues, it becomes a "prisoner of history" in a trap of its own making. He writes, "A Republic may change its course, or reverse it, and that will be its own business. But the history of Empire is a world history and belongs to many people. A Republic is not obliged to act upon the world, either to change it or instruct it. Empire, on the other hand, must put forth its power." ..."
"... Collective security and fear are intimately connected concepts. It is no coincidence that the sixth component of Empire -- imprisonment -- comes directly after the two components of "a system of satellite nations" and, "a complex of vaunting and fear." ..."
"... An empire thinks that satellites are necessary for its collective security. Satellites think the empire is necessary for territorial and economic survival; but they are willing to defect if an empire with a better deal beckons. America knows this and scrambles to satisfy satellites that could become fickle. Garrett quotes Harry Truman, who created America's modern system of satellites. "We must make sure that our friends and allies overseas continue to get the help they need to make their full contribution to security and progress for the whole free world. This means not only military aid -- though that is vital -- it also means real programs of economic and technical assistance." ..."
"... Garrett also emphasizes how domestic pressure imprisons Empire. One of the most powerful domestic pressures is fear. An atmosphere of fear -- real or created -- drives public support of foreign policy and makes it more difficult for Empire to retreat from those policies. ..."
"... Empire has "'less control over its own fate than a republic,' he [Garrett] commented because it was a 'prisoner of history', ruled by fear. Fear of what? 'Fear of the barbarian.'" ..."
"... It does not matter whether the enemy is actually a barbarian. What matters is that citizens of Empire believe in the enemy's savagery and support a military posture toward him. Domestic fear drives the constant politics of satellite nations, protective treaties, police actions, and war. Foreign entanglements lead to increased global involvement and deeper commitments. The two reinforce each other. ..."
"... The fifth characteristic of Empire is not merely fear but also "vaunting." Vaunting means boasting about or praising something excessively -- for example, to laud and exaggerate America's role in the world. Fear provides the emotional impetus for conquest; vaunting provides the moral justification for acting upon the fear. The moral duty is variously phrased: leadership, a balance of power, peace, democracy, the preservation of civilization, humanitarianism. From this point, it is a small leap to conclude that the ends sanctify the means. Garrett observes that "there is soon a point from which there is no turning back .The argument for going on is well known. As Woodrow Wilson once asked, 'Shall we break the heart of the world?' So now many are saying, 'We cannot let the free world down'. Moral leadership of the world is not a role you step into and out of as you like." ..."
Sep 23, 2017 | ronpaulinstitute.org
The Exit Strategy of Empire Written y Friday September 22, 2017
The Roman Empire never doubted that it was the defender of civilization. Its good intentions were peace, law and order. The Spanish Empire added salvation. The British Empire added the noble myth of the white man's burden. We have added freedom and democracy.

-- Garet Garrett, Rise of Empire

The first step in creating Empire is to morally justify the invasion and occupation of another nation even if it poses no credible or substantial threat. But if that's the entering strategy, what is the exit one?

One approach to answering is to explore how Empire has arisen through history and whether the process can be reversed. Another is to conclude that no exit is possible; an Empire inevitably self-destructs under the increasing weight of what it is -- a nation exercising ultimate authority over an array of satellite states. Empires are vulnerable to overreach, rebellion, war, domestic turmoil, financial exhaustion, and competition for dominance.

In his monograph Rise of Empire, the libertarian journalist Garet Garrett (1878–1954), lays out a blueprint for how Empire could possibly be reversed as well as the reason he believes reversal would not occur. Garrett was in a unique position to comment insightfully on the American empire because he'd had a front-row seat to events that cemented its status: World War II and the Cold War. World War II America already had a history of conquest and occupation, of course, but, during the mid to late 20th century, the nation became a self-consciously and unapologetic empire with a self-granted mandate to spread its ideology around the world.

A path to reversing Empire

Garrett identifies the first five components of Empire:

These are not sequential stages of Empire but occur in conjunction with one another and reinforce each other. That means that an attempt to reverse Empire in the direction of a Republic can begin with weakening any of the five characteristics in any order.

Garrett did not directly address the strategy of undoing Empire, but his description of its creation can be used to good advantage. The first step is to break down each component of Empire into more manageable chunks. For example, the executive branch accumulates power in various ways. They include:

Deconstructing these executive props, one by one, weakens the Empire. When all five components are deconstructing, the process presents a possible path to dissolving Empire itself.

A sixth component of Empire

But in Rise of Empire, Garet Garrett offers a chilling assessment based on his sixth component of Empire. There is no path out. A judgment that renders prevention all the more essential.

That was why Garrett does not deal with how to reverse the process of Empire. Once an empire is established, he argues, it becomes a "prisoner of history" in a trap of its own making. He writes, "A Republic may change its course, or reverse it, and that will be its own business. But the history of Empire is a world history and belongs to many people. A Republic is not obliged to act upon the world, either to change it or instruct it. Empire, on the other hand, must put forth its power."

In his book For A New Liberty, Murray Rothbard expands on Garrett's point: "[The] United States, like previous empires, feel[s] itself to be 'a prisoner of history.' For beyond fear lies 'collective security,' and the playing of the supposedly destined American role upon the world stage."

Collective security and fear are intimately connected concepts. It is no coincidence that the sixth component of Empire -- imprisonment -- comes directly after the two components of "a system of satellite nations" and, "a complex of vaunting and fear."

Satellite nations

"We speak of our own satellites as allies and friends or as freedom loving nations," Garrett wrote. "Nevertheless, satellite is the right word. The meaning of it is the hired guard." Why hired? Although men of Empire speak of losing China [or] Europe [how] could we lose China or Europe, since they never belonged to us? What they mean is that we may lose a following of dependent people who act as an outer guard."

An empire thinks that satellites are necessary for its collective security. Satellites think the empire is necessary for territorial and economic survival; but they are willing to defect if an empire with a better deal beckons. America knows this and scrambles to satisfy satellites that could become fickle. Garrett quotes Harry Truman, who created America's modern system of satellites. "We must make sure that our friends and allies overseas continue to get the help they need to make their full contribution to security and progress for the whole free world. This means not only military aid -- though that is vital -- it also means real programs of economic and technical assistance."

In contrast to a Republic, Empire is both a master and a servant because foreign pressure cements it into the military and economic support of satellite nations around the globe, all of which have their own agendas.

Garrett also emphasizes how domestic pressure imprisons Empire. One of the most powerful domestic pressures is fear. An atmosphere of fear -- real or created -- drives public support of foreign policy and makes it more difficult for Empire to retreat from those policies. In his introduction to Garrett's book Ex America, Bruce Ramsey addresses Garrett's point. Ramsey writes, Empire has "'less control over its own fate than a republic,' he [Garrett] commented because it was a 'prisoner of history', ruled by fear. Fear of what? 'Fear of the barbarian.'"

It does not matter whether the enemy is actually a barbarian. What matters is that citizens of Empire believe in the enemy's savagery and support a military posture toward him. Domestic fear drives the constant politics of satellite nations, protective treaties, police actions, and war. Foreign entanglements lead to increased global involvement and deeper commitments. The two reinforce each other.

The fifth characteristic of Empire is not merely fear but also "vaunting." Vaunting means boasting about or praising something excessively -- for example, to laud and exaggerate America's role in the world. Fear provides the emotional impetus for conquest; vaunting provides the moral justification for acting upon the fear. The moral duty is variously phrased: leadership, a balance of power, peace, democracy, the preservation of civilization, humanitarianism. From this point, it is a small leap to conclude that the ends sanctify the means. Garrett observes that "there is soon a point from which there is no turning back .The argument for going on is well known. As Woodrow Wilson once asked, 'Shall we break the heart of the world?' So now many are saying, 'We cannot let the free world down'. Moral leadership of the world is not a role you step into and out of as you like."

Conclusion

In this manner, Garrett believed, Empire imprisons itself in the trap of a perpetual war for peace and stability, which are always stated goals. Yet, as Garrett concluded, the reality is war and instability.

It is not clear whether he was correct that Empire could not be reversed. Whether or not he was, it is at its creation that Empire is best opposed.

Reprinted with permission from the Future of Freedom Foundation .


Related

[Sep 19, 2017] Neoliberalism: the deep story that lies beneath Donald Trumps triumph: How a ruthless network of super-rich ideologues killed choice and destroyed people s faith in politics by George Monbiot

Highly recommended!
Notable quotes:
"... The book was The Constitution of Liberty by Frederick Hayek . Its publication, in 1960, marked the transition from an honest, if extreme, philosophy to an outright racket. The philosophy was called neoliberalism . It saw competition as the defining characteristic of human relations. The market would discover a natural hierarchy of winners and losers, creating a more efficient system than could ever be devised through planning or by design. Anything that impeded this process, such as significant tax, regulation, trade union activity or state provision, was counter-productive. Unrestricted entrepreneurs would create the wealth that would trickle down to everyone. ..."
"... But by the time Hayek came to write The Constitution of Liberty, the network of lobbyists and thinkers he had founded was being lavishly funded by multimillionaires who saw the doctrine as a means of defending themselves against democracy. Not every aspect of the neoliberal programme advanced their interests. Hayek, it seems, set out to close the gap. ..."
"... He begins the book by advancing the narrowest possible conception of liberty: an absence of coercion. He rejects such notions as political freedom, universal rights, human equality and the distribution of wealth, all of which, by restricting the behaviour of the wealthy and powerful, intrude on the absolute freedom from coercion he demands. ..."
"... The general thrust is about the gradual hollowing out of the middle class (or more affluent working class, depending on the analytical terms being used), about insecurity, stress, casualisation, rising wage inequality. ..."
"... So Hayek, I feel, is like many theoreticians, in that he seems to want a pure world that will function according to a simple and universal law. The world never was, and never will be that simple, and current economics simply continues to have a blindspot for externalities that overwhelm the logic of an unfettered so-called free market. ..."
"... J.K. Galbraith viewed the rightwing mind as predominantly concerned with figuring out a way to justify the shift of wealth from the immense majority to an elite at the top. I for one regret acutely that he did not (as far as I know) write a volume on his belief in progressive taxation. ..."
"... The system that Clinton developed was an inheritance from George H.W. Bush, Reagan (to a large degree), Carter, with another large assist from Nixon and the Powell Memo. ..."
"... What's changed is the distribution of the gains in GDP growth -- that is in no small part a direct consequence of changes in policy since the 1970s. It isn't some "market place magic". We have made major changes to tax laws since that time. We have weakened collective bargaining, which obviously has a negative impact on wages. We have shifted the economy towards financial services, which has the tendency of increasing inequality. ..."
"... Wages aren't stagnating because people are working less. Wages have stagnated because of dumb policy choices that have tended to incentives looting by those at the top of the income distribution from workers in the lower parts of the economy. ..."
"... "Neoliberalism" is entirely compatible with "growth of the state". Reagan greatly enlarged the state. He privatized several functions and it actually had the effect of increasing spending. ..."
"... When it comes to social safety net programs, e.g. in health care and education -- those programs almost always tend to be more expensive and more complicated when privatized. If the goal was to actually save taxpayer money, in the U.S. at least, it would have made a lot more sense to have a universal Medicare system, rather than a massive patch-work like the ACA and our hybrid market. ..."
"... As for the rest, it's the usual practice of gathering every positive metric available and somehow attributing it to neoliberalism, no matter how tenuous the threads, and as always with zero rigour. Supposedly capitalism alone doubled life expectancy, supports billions of extra lives, invented the railways, and provides the drugs and equipment that keep us alive. As though public education, vaccines, antibiotics, and massive availability of energy has nothing to do with those things. ..."
"... I think the damage was done when the liberal left co-opted neo-liberalism. What happened under Bill Clinton was the development of crony capitalism where for example the US banks were told to lower their credit standards to lend to people who couldn't really afford to service the loans. ..."
Nov 16, 2017 | www.theguardian.com

The events that led to Donald Trump's election started in England in 1975. At a meeting a few months after Margaret Thatcher became leader of the Conservative party, one of her colleagues, or so the story goes, was explaining what he saw as the core beliefs of conservatism. She snapped open her handbag, pulled out a dog-eared book, and slammed it on the table . "This is what we believe," she said. A political revolution that would sweep the world had begun.

The book was The Constitution of Liberty by Frederick Hayek . Its publication, in 1960, marked the transition from an honest, if extreme, philosophy to an outright racket. The philosophy was called neoliberalism . It saw competition as the defining characteristic of human relations. The market would discover a natural hierarchy of winners and losers, creating a more efficient system than could ever be devised through planning or by design. Anything that impeded this process, such as significant tax, regulation, trade union activity or state provision, was counter-productive. Unrestricted entrepreneurs would create the wealth that would trickle down to everyone.

This, at any rate, is how it was originally conceived. But by the time Hayek came to write The Constitution of Liberty, the network of lobbyists and thinkers he had founded was being lavishly funded by multimillionaires who saw the doctrine as a means of defending themselves against democracy. Not every aspect of the neoliberal programme advanced their interests. Hayek, it seems, set out to close the gap.

He begins the book by advancing the narrowest possible conception of liberty: an absence of coercion. He rejects such notions as political freedom, universal rights, human equality and the distribution of wealth, all of which, by restricting the behaviour of the wealthy and powerful, intrude on the absolute freedom from coercion he demands.

Democracy, by contrast, "is not an ultimate or absolute value". In fact, liberty depends on preventing the majority from exercising choice over the direction that politics and society might take.

He justifies this position by creating a heroic narrative of extreme wealth. He conflates the economic elite, spending their money in new ways, with philosophical and scientific pioneers. Just as the political philosopher should be free to think the unthinkable, so the very rich should be free to do the undoable, without constraint by public interest or public opinion.

The ultra rich are "scouts", "experimenting with new styles of living", who blaze the trails that the rest of society will follow. The progress of society depends on the liberty of these "independents" to gain as much money as they want and spend it how they wish. All that is good and useful, therefore, arises from inequality. There should be no connection between merit and reward, no distinction made between earned and unearned income, and no limit to the rents they can charge.

Inherited wealth is more socially useful than earned wealth: "the idle rich", who don't have to work for their money, can devote themselves to influencing "fields of thought and opinion, of tastes and beliefs". Even when they seem to be spending money on nothing but "aimless display", they are in fact acting as society's vanguard.

Hayek softened his opposition to monopolies and hardened his opposition to trade unions. He lambasted progressive taxation and attempts by the state to raise the general welfare of citizens. He insisted that there is "an overwhelming case against a free health service for all" and dismissed the conservation of natural resources. It should come as no surprise to those who follow such matters that he was awarded the Nobel prize for economics .

By the time Thatcher slammed his book on the table, a lively network of thinktanks, lobbyists and academics promoting Hayek's doctrines had been established on both sides of the Atlantic, abundantly financed by some of the world's richest people and businesses , including DuPont, General Electric, the Coors brewing company, Charles Koch, Richard Mellon Scaife, Lawrence Fertig, the William Volker Fund and the Earhart Foundation. Using psychology and linguistics to brilliant effect, the thinkers these people sponsored found the words and arguments required to turn Hayek's anthem to the elite into a plausible political programme.

Thatcherism and Reaganism were not ideologies in their own right: they were just two faces of neoliberalism. Their massive tax cuts for the rich, crushing of trade unions, reduction in public housing, deregulation, privatisation, outsourcing and competition in public services were all proposed by Hayek and his disciples. But the real triumph of this network was not its capture of the right, but its colonisation of parties that once stood for everything Hayek detested.

Bill Clinton and Tony Blair did not possess a narrative of their own. Rather than develop a new political story, they thought it was sufficient to triangulate . In other words, they extracted a few elements of what their parties had once believed, mixed them with elements of what their opponents believed, and developed from this unlikely combination a "third way".

It was inevitable that the blazing, insurrectionary confidence of neoliberalism would exert a stronger gravitational pull than the dying star of social democracy. Hayek's triumph could be witnessed everywhere from Blair's expansion of the private finance initiative to Clinton's repeal of the Glass-Steagal Act , which had regulated the financial sector. For all his grace and touch, Barack Obama, who didn't possess a narrative either (except "hope"), was slowly reeled in by those who owned the means of persuasion.

As I warned in April, the result is first disempowerment then disenfranchisement. If the dominant ideology stops governments from changing social outcomes, they can no longer respond to the needs of the electorate. Politics becomes irrelevant to people's lives; debate is reduced to the jabber of a remote elite. The disenfranchised turn instead to a virulent anti-politics in which facts and arguments are replaced by slogans, symbols and sensation. The man who sank Hillary Clinton's bid for the presidency was not Donald Trump. It was her husband.

The paradoxical result is that the backlash against neoliberalism's crushing of political choice has elevated just the kind of man that Hayek worshipped. Trump, who has no coherent politics, is not a classic neoliberal. But he is the perfect representation of Hayek's "independent"; the beneficiary of inherited wealth, unconstrained by common morality, whose gross predilections strike a new path that others may follow. The neoliberal thinktankers are now swarming round this hollow man, this empty vessel waiting to be filled by those who know what they want. The likely result is the demolition of our remaining decencies, beginning with the agreement to limit global warming .

Those who tell the stories run the world. Politics has failed through a lack of competing narratives. The key task now is to tell a new story of what it is to be a human in the 21st century. It must be as appealing to some who have voted for Trump and Ukip as it is to the supporters of Clinton, Bernie Sanders or Jeremy Corbyn.

A few of us have been working on this, and can discern what may be the beginning of a story. It's too early to say much yet, but at its core is the recognition that – as modern psychology and neuroscience make abundantly clear – human beings, by comparison with any other animals, are both remarkably social and remarkably unselfish . The atomisation and self-interested behaviour neoliberalism promotes run counter to much of what comprises human nature.

Hayek told us who we are, and he was wrong. Our first step is to reclaim our humanity.

justamug -> Skytree 16 Nov 2016 18:17

Thanks for the chuckle. On a more serious note - defining neoliberalism is not that easy since it is not a laid out philosophy like liberalism, or socialism, or communism or facism. Since 2008 the use of the word neoliberalism has increased in frequency and has come to mean different things to different people.

A common theme appears to be the negative effects of the market on the human condition.

Having read David Harvey's book, and Phillip Mirowski's book (both had a go at defining neoliberalism and tracing its history) it is clear that neoliberalism is not really coherent set of ideas.

ianfraser3 16 Nov 2016 17:54

EF Schumacher quoted "seek first the kingdom of God" in his epilogue of "Small Is Beautiful: a study of economics as if people mattered". This was written in the early 1970s before the neoliberal project bit in the USA and the UK. The book is laced with warnings about the effects of the imposition of neoliberalism on society, people and the planet. The predictions have largely come true. New politics and economics needed, by leaders who place at the heart of their approach the premise, and fact, that humans are "by comparison with any other animals, are both remarkably social and remarkably unselfish". It is about reclaiming our humanity from a project that treats people as just another commodity.


Filipio -> YouDidntBuildThat 16 Nov 2016 17:42

Whoa there, slow down.

Your last post was questioning the reality of neoliberalism as a general policy direction that had become hegemonic across many governments (and most in the west) over recent decades. Now you seem to be agreeing that the notion does have salience, but that neoliberalism delivered positive rather than negative consequences.

Well, its an ill wind that blows nobody any good, huh?

Doubtless there were some positive outcomes for particular groups. But recall that the context for this thread is not whether, on balance, more people benefited from neoliberal policies than were harmed -- an argument that would be most powerful only in very utilitarian style frameworks of thought (most good for the many, or most harm for only the few). The thread is about the significance of the impacts of neoliberalism in the rise of Trump. And in specific relation to privatisation (just one dimension of neoliberalism) one key impact was downsizing (or 'rightsizing'; restructuring). There is a plethora of material, including sociological and psychological, on the harm caused by shrinking and restructured work-forces as a consequence of privatisation. Books have been written, even in the business management sector, about how poorly such 'change' was handled and the multiple deleterious outcomes experienced by employees.

And we're still only talking about one dimension of neoliberalism! Havn't even touched on deregulation yet (notably, labour market and financial sector).

The general thrust is about the gradual hollowing out of the middle class (or more affluent working class, depending on the analytical terms being used), about insecurity, stress, casualisation, rising wage inequality.

You want evidence? I'm not doing your research for you. The internet can be a great resource, or merely an echo chamber. The problem with so many of the alt-right (and this applies on the extreme left as well) is that they only look to confirm their views, not read widely. Open your eyes, and use your search engine of choice. There is plenty out there. Be open to having your preconceptions challenged.

RichardErskine -> LECKJ3000 16 Nov 2016 15:38

LECKJ3000 - I am not an economist, but surely the theoretical idealised mechanisms of the market are never realised in practice. US subsidizing their farmers, in EU too, etc. And for problems that are not only externalities but transnational ones, the idea that some Hayek mechanism will protect thr ozone layer or limit carbon emissions, without some regulation or tax.

Lord Stern called global warming the greatest market failure in history, but no market, however sophisticated, can deal with it without some price put on the effluent of product (the excessive CO2 we put into the atmosphere).

As with Montreal and subsequent agreements, there is a way to maintain a level playing field; to promote different substances for use as refrigerants; and to address the hole in ozone layer; without abandoning the market altogether. Simple is good, because it avoids over-engineering the interventions (and the unintended consequences you mention).

The same could/ should be true of global warming, but we have left it so late we cannot wait for the (inevitable) fall of fossil fuels and supremacy of renewables. We need a price on carbon, which is a graduated and fast rising tax essentially on its production and/or consumption, which has already started to happen ( http://www.worldbank.org/content/dam/Worldbank/document/SDN/background-note_carbon-tax.pdf ), albeit not deep / fast / extensive enough, or international in character, but that will come, if not before the impacts really bite then soon after.

So Hayek, I feel, is like many theoreticians, in that he seems to want a pure world that will function according to a simple and universal law. The world never was, and never will be that simple, and current economics simply continues to have a blindspot for externalities that overwhelm the logic of an unfettered so-called free market.

LionelKent -> greven 16 Nov 2016 14:59

And persistent. J.K. Galbraith viewed the rightwing mind as predominantly concerned with figuring out a way to justify the shift of wealth from the immense majority to an elite at the top. I for one regret acutely that he did not (as far as I know) write a volume on his belief in progressive taxation.

RandomLibertarian -> JVRTRL 16 Nov 2016 09:19

Not bad points.

When it comes to social safety net programs, e.g. in health care and education -- those programs almost always tend to be more expensive and more complicated when privatized. If the goal was to actually save taxpayer money, in the U.S. at least, it would have made a lot more sense to have a universal Medicare system, rather than a massive patch-work like the ACA and our hybrid market.

Do not forget that the USG, in WW2, took the deliberate step of allowing employers to provide health insurance as a tax-free benefit - which it still is, being free even from SS and Medicare taxes. In the post-war boom years this resulted in the development of a system with private rooms, almost on-demand access to specialists, and competitive pay for all involved (while the NHS, by contrast, increasingly drew on immigrant populations for nurses and below). Next, the large sums of money in the system and a generous court system empowered a vast malpractice industry. So to call our system in any way a consequence of a free market is a misnomer.

Entirely state controlled health care systems tend to be even more cost-effective.

Read Megan McArdle's work in this area. The US has had similar cost growth since the 1970s to the rest of the world. The problem was that it started from a higher base.

Part of the issue is that privatization tends to create feedback mechanism that increase the size of spending in programs. Even Eisenhower's noted "military industrial complex" is an illustration of what happens when privatization really takes hold.

When government becomes involved in business, business gets involved in government!

Todd Smekens 16 Nov 2016 08:40

Albert Einstein said, "capitalism is evil" in his famous dictum called, "Why Socialism" in 1949. He also called communism, "evil", so don't jump to conclusions, comrades. ;)

His reasoning was it distorts a human beings longing for the social aspect. I believe George references this in his statement about people being "unselfish". This is noted by both science and philosophy.

Einstein noted that historically, the conqueror would establish the new order, and since 1949, Western Imperialism has continued on with the predatory phase of acquiring and implementing democracy/capitalism. This needs to end. As we've learned rapidly, capitalism isn't sustainable. We are literally overheating the earth which sustains us. Very unwise.

Einstein wrote, "Man is, at one and the same time, a solitary being and a social being. As a solitary being, he attempts to protect his own existence and that of those who are closest to him, to satisfy his personal desires, and to develop his innate abilities. As a social being, he seeks to gain the recognition and affection of his fellow human beings, to share in their pleasures, to comfort them in their sorrows, and to improve their conditions of life. Only the existence of these varied, frequently conflicting, strivings accounts for the special character of a man, and their specific combination determines the extent to which an individual can achieve an inner equilibrium and can contribute to the well-being of society."

Personally, I'm glad George and others are working on a new economic and social construct for us "human beings". It's time we leave the predatory phase of "us versus them", and construct a new society which works for the good of our now, global society.

zavaell -> LECKJ3000 16 Nov 2016 06:28

The problem is that both you and Monbiot fail to mention that your "the spontaneous order of the market" does not recognize externalities and climate change is outside Hayek's thinking - he never wrote about sustainability or the limits on resources, let alone the consequences of burning fossil fuels. There is no beauty in what he wrote - it was a cold, mechanical model that assumed certain human behaviour but not others. Look at today's money-makers - they are nearly all climate change deniers and we have to have government to reign them in.

aLERNO 16 Nov 2016 04:52

Good, short and concise article. But the FIRST NEOLIBERAL MILESTONE WAS THE 1973 COUP D'ETAT IN CHILE, which not surprisingly also deposed the first democratically-elected socialist government.

accipiter15 16 Nov 2016 02:34

A great article and explanation of the influence of Hayek on Thatcher. Unfortunately this country is still suffering the consequences of her tenure and Osborne was also a proponent of her policies and look where we are as a consequence. The referendum gave the people the opportunity to vent their anger and if we had PR I suspect we would have a greater turn-out and nearly always have some sort of coalition where nothing gets done that is too hurtful to the population. As for Trump, again his election is an expression of anger and desperation. However, the American voting system is as unfair as our own - again this has probably been the cause of the low turn-out. Why should people vote when they do not get fair representation - it is a waste of time and not democratic. I doubt that Trump is Keynsian I suspect he doesn't have an economic theory at all. I just hope that the current economic thinking prevailing currently in this country, which is still overshadowed by Thatcher and the free market, with no controls over the city casino soon collapses and we can start from a fairer and more inclusive base!

JVRTRL -> Keypointist 16 Nov 2016 02:15

The system that Clinton developed was an inheritance from George H.W. Bush, Reagan (to a large degree), Carter, with another large assist from Nixon and the Powell Memo.

Bill Clinton didn't do it by himself. The GOP did it with him hand-in-hand, with the only resistance coming from a minority within the Democratic party.

Trump's victory was due to many factors. A large part of it was Hillary Clinton's campaign and the candidate. Part of it was the effectiveness of the GOP massive resistance strategy during the Obama years, wherein they pursued a course of obstruction in an effort to slow the rate of the economic recovery (e.g. as evidence of the bad faith, they are resurrecting a $1 trillion infrastructure bill that Obama originally proposed in 2012, and now that they have full control, all the talk about "deficits" goes out the window).

Obama and the Democratic party also bear responsibility for not recognizing the full scope of the financial collapse in 2008-2009, passing a stimulus package that was about $1 trillion short of spending needed to accelerate the recovery by the 2010 mid-terms, combined with a weak financial regulation law (which the GOP is going to destroy), an overly complicated health care law -- classic technocratic, neoliberal incremental policy -- and the failure of the Obama administration to hold Wall Street accountable for criminal misconduct relating to the financial crisis. Obama's decision to push unpopular trade agreements didn't help either. As part of the post-mortem, the decision to continuing pushing the TPP may have cost Clinton in the rust belt states that went for Trump. The agreement was unpopular, and her shift on the policy didn't come across as credible. People noticed as well that Obama was trying to pass the measure through the lame-duck session of Congress post-election. With Trump's election, the TPP is done too.

JVRTRL daltonknox67 16 Nov 2016 02:00

There is no iron law that says a country has to run large trade deficits. The existence of large trade deficits is usually a result of policy choices.

Growth also hasn't gone into the tank. What's changed is the distribution of the gains in GDP growth -- that is in no small part a direct consequence of changes in policy since the 1970s. It isn't some "market place magic". We have made major changes to tax laws since that time. We have weakened collective bargaining, which obviously has a negative impact on wages. We have shifted the economy towards financial services, which has the tendency of increasing inequality.

The idea too that people will be "poorer" than in the 1920s and 1930s is just plain ignorant. It has no basis in any of the data. Wages in the bottom quartile have actually decreased slightly since the 1970s in real terms, but those wages in the 1970s were still exponentially higher than wages in the 1920s in real terms.

Wages aren't stagnating because people are working less. Wages have stagnated because of dumb policy choices that have tended to incentives looting by those at the top of the income distribution from workers in the lower parts of the economy. The 2008 bailouts were a clear illustration of this reality. People in industries rigged rules to benefit themselves. They misallocated resources. Then they went to representatives and taxpayers and asked for a large no-strings attached handout that was effectively worth trillions of dollars (e.g. hundreds of billions through TARP, trillions more through other programs). As these players become wealthier, they have an easier time buying politicians to rig rules further to their advantage.

JVRTRL -> RandomLibertarian 16 Nov 2016 01:44

"The tyranny of the 51 per cent is the oldest and most solid argument against a pure democracy."

"Tyranny of the majority" is always a little bizarre, given that the dynamics of majority rule are unlike the governmental structures of an actual tyranny. Even in the context of the U.S. we had minority rule due to voting restrictions for well over a century that was effectively a tyranny for anyone who was denied the ability to participation in the elections process. Pure majorities can go out of control, especially in a country with massive wealth disparities and with weak civic institutions.

On the other hand, this is part of the reason to construct a system of checks and balances. It's also part of the argument for representative democracy.

"Neoliberalism" is entirely compatible with "growth of the state". Reagan greatly enlarged the state. He privatized several functions and it actually had the effect of increasing spending.

When it comes to social safety net programs, e.g. in health care and education -- those programs almost always tend to be more expensive and more complicated when privatized. If the goal was to actually save taxpayer money, in the U.S. at least, it would have made a lot more sense to have a universal Medicare system, rather than a massive patch-work like the ACA and our hybrid market.

Entirely state controlled health care systems tend to be even more cost-effective. Part of the issue is that privatization tends to create feedback mechanism that increase the size of spending in programs. Even Eisenhower's noted "military industrial complex" is an illustration of what happens when privatization really takes hold.

daltonknox67 15 Nov 2016 21:46

After WWII most of the industrialised world had been bombed or fought over with destruction of infrastructure and manufacturing. The US alone was undamaged. It enjoyed a manufacturing boom that lasted until the 70's when competition from Germany and Japan, and later Taiwan, Korea and China finally brought it to an end.

As a result Americans born after 1950 will be poorer than the generation born in the 20's and 30's.

This is not a conspiracy or government malfunction. It is a quirk of history. Get over it and try working.

Arma Geddon 15 Nov 2016 21:11

Another nasty neoliberal policy of Reagan and Thatcher, was to close all the mental hospitals, and to sweeten the pill to sell to the voters, they called it Care in the Community, except by the time those hospitals closed and the people who had to relay on those institutions, they found out and are still finding out that there is very little care in the community left any more, thanks to Thatcher's disintegration of the ethos community spirit.

In their neoliberal mantra of thinking, you are on your own now, tough, move on, because you are hopeless and non productive, hence you are a burden to taxpayers.

Its been that way of thinking for over thirty years, and now the latest group targeted, are the sick and disabled, victims of the neoliberal made banking crash and its neoliberal inspired austerity, imposed of those least able to fight back or defend themselves i.e. vulnerable people again!

AlfredHerring GimmeHendrix 15 Nov 2016 20:23

It was in reference to Maggie slapping a copy of Hayek's Constitution of Liberty on the table and saying this is what we believe. As soon as you introduce the concept of belief you're talking about religion hence completeness while Hayek was writing about economics which demands consistency. i.e. St. Maggie was just as bad as any Stalinist: economics and religion must be kept separate or you get a bunch of dead peasants for no reason other than your own vanity.

Ok, religion based on a sky god who made us all is problematic but at least there's always the possibility of supplication and miracles. Base a religion on economic theory and you're just making sausage of your neighbors kids.

TanTan -> crystaltips2 15 Nov 2016 20:10

If you claim that the only benefit of private enterprise is its taxability, as you did, then why not cut out the middle man and argue for full state-directed capitalism?

Because it is plainly obvious that private enterprise is not directed toward the public good (and by definition). As we have both agreed, it needs to have the right regulations and framework to give it some direction in that regard. What "the radical left" are pointing out is that the idea of private enterprise is now completely out of control, to the point where voters are disenfranchised because private enterprise has more say over what the government does than the people. Which is clearly a problem.

As for the rest, it's the usual practice of gathering every positive metric available and somehow attributing it to neoliberalism, no matter how tenuous the threads, and as always with zero rigour. Supposedly capitalism alone doubled life expectancy, supports billions of extra lives, invented the railways, and provides the drugs and equipment that keep us alive. As though public education, vaccines, antibiotics, and massive availability of energy has nothing to do with those things.

As for this computer being the invention of capitalism, who knows, but I suppose if one were to believe that everything was invented and created by capitalism and monetary motives then one might believe that. Energy allotments referred to the limit of our usage of readily available fossil fuels which you remain blissfully unaware of.

Children have already been educated to agree with you, in no small part due to a fear of the communist regimes at the time, but at the expense of critical thinking. Questioning the system even when it has plainly been undermined to its core is quickly labelled "radical" regardless of the normalcy of the query. I don't know what you could possibly think left-wing motives could be, but your own motives are plain to see when you immediately lump people who care about the planet in with communist idealogues. If rampant capitalism was going to solve our problems I'm all for it, but it will take a miracle to reverse the damage it has already done, and only a fool would trust it any further.

YouDidntBuildThat -> Filipio 15 Nov 2016 20:06

Filipo

You argue that a great many government functions have been privatized. I agree. Yet strangely you present zero evidence of any downsides of that happening. Most of the academic research shows a net benefit, not just on budgets but on employee and customer satisfaction. See for example.

And despite these privitazation cost savings and alleged neoliberal "austerity" government keeps taking a larger share of our money, like a malignant cancer. No worries....We're from the government, and we're here to help.

Keypointist 15 Nov 2016 20:04

I think the damage was done when the liberal left co-opted neo-liberalism. What happened under Bill Clinton was the development of crony capitalism where for example the US banks were told to lower their credit standards to lend to people who couldn't really afford to service the loans.

It was this that created too big to fail and the financial crisis of 2008. Conservative neo-liberals believe passionately in competition and hate monopolies. The liberal left removed was was productive about neo-liberalism and replaced it with a kind of soft state capitalism where big business was protected by the state and the tax payer was called on to bail out these businesses. THIS more than anything else led to Trump's victory.

[Sep 19, 2017] Neoliberalism: the idea that swallowed the world by Stephen Metcalf

Highly recommended!
Notable quotes:
"... The word ["neoliberalism"] has become a rhetorical weapon, but it properly names the reigning ideology of our era – one that venerates the logic of the market and strips away the things that make us human. ..."
"... Last summer, researchers at the International Monetary Fund settled a long and bitter debate over "neoliberalism": they admitted it exists. Three senior economists at the IMF, an organisation not known for its incaution, published a paper questioning the benefits of neoliberalism ..."
"... The paper gently called out a "neoliberal agenda" for pushing deregulation on economies around the world, for forcing open national markets to trade and capital, and for demanding that governments shrink themselves via austerity or privatisation. The authors cited statistical evidence for the spread of neoliberal policies since 1980, and their correlation with anaemic growth, boom-and-bust cycles and inequality. ..."
"... In the aftermath of the 2008 financial crisis, it was a way of assigning responsibility for the debacle, not to a political party per se, but to an establishment that had conceded its authority to the market. For the Democrats in the US and Labour in the UK, this concession was depicted as a grotesque betrayal of principle. Bill Clinton and Tony Blair, it was said, had abandoned the left's traditional commitments, especially to workers, in favour of a global financial elite and the self-serving policies that enriched them; and in doing so, had enabled a sickening rise in inequality. ..."
"... Peer through the lens of neoliberalism and you see more clearly how the political thinkers most admired by Thatcher and Reagan helped shape the ideal of society as a kind of universal market ..."
"... Of course the goal was to weaken the welfare state and any commitment to full employment, and – always – to cut taxes and deregulate. But "neoliberalism" indicates something more than a standard rightwing wish list. It was a way of reordering social reality, and of rethinking our status as individuals. ..."
"... In short, "neoliberalism" is not simply a name for pro-market policies, or for the compromises with finance capitalism made by failing social democratic parties. It is a name for a premise that, quietly, has come to regulate all we practise and believe: that competition is the only legitimate organising principle for human activity. ..."
"... No sooner had neoliberalism been certified as real, and no sooner had it made clear the universal hypocrisy of the market, than the populists and authoritarians came to power ..."
"... Against the forces of global integration, national identity is being reasserted, and in the crudest possible terms. What could the militant parochialism of Brexit Britain and Trumpist America have to do with neoliberal rationality? ..."
"... It isn't only that the free market produces a tiny cadre of winners and an enormous army of losers – and the losers, looking for revenge, have turned to Brexit and Trump. There was, from the beginning, an inevitable relationship between the utopian ideal of the free market and the dystopian present in which we find ourselves; ..."
"... That Hayek is considered the grandfather of neoliberalism – a style of thought that reduces everything to economics – is a little ironic given that he was such a mediocre economist. ..."
"... This last is what makes neoliberalism "neo". It is a crucial modification of the older belief in a free market and a minimal state, known as "classical liberalism". In classical liberalism, merchants simply asked the state to "leave us alone" – to laissez-nous faire. Neoliberalism recognised that the state must be active in the organisation of a market economy. The conditions allowing for a free market must be won politically, and the state must be re-engineered to support the free market on an ongoing basis. ..."
"... Hayek had only his idea to console him; an idea so grand it would one day dissolve the ground beneath the feet of Keynes and every other intellectual. Left to its own devices, the price system functions as a kind of mind. And not just any mind, but an omniscient one: the market computes what individuals cannot grasp. Reaching out to him as an intellectual comrade-in-arms, the American journalist Walter Lippmann wrote to Hayek, saying: "No human mind has ever understood the whole scheme of a society At best a mind can understand its own version of the scheme, something much thinner, which bears to reality some such relation as a silhouette to a man." ..."
"... The only social end is the maintenance of the market itself. In its omniscience, the market constitutes the only legitimate form of knowledge, next to which all other modes of reflection are partial, in both senses of the word: they comprehend only a fragment of a whole and they plead on behalf of a special interest. Individually, our values are personal ones, or mere opinions; collectively, the market converts them into prices, or objective facts. ..."
"... According to the logic of Hayek's Big Idea, these expressions of human subjectivity are meaningless without ratification by the market ..."
"... ociety reconceived as a giant market leads to a public life lost to bickering over mere opinions; until the public turns, finally, in frustration to a strongman as a last resort for solving its otherwise intractable problems. ..."
"... What began as a new form of intellectual authority, rooted in a devoutly apolitical worldview, nudged easily into an ultra-reactionary politics ..."
Aug 18, 2017 | www.theguardian.com

The word ["neoliberalism"] has become a rhetorical weapon, but it properly names the reigning ideology of our era – one that venerates the logic of the market and strips away the things that make us human.

Last summer, researchers at the International Monetary Fund settled a long and bitter debate over "neoliberalism": they admitted it exists. Three senior economists at the IMF, an organisation not known for its incaution, published a paper questioning the benefits of neoliberalism . In so doing, they helped put to rest the idea that the word is nothing more than a political slur, or a term without any analytic power. The paper gently called out a "neoliberal agenda" for pushing deregulation on economies around the world, for forcing open national markets to trade and capital, and for demanding that governments shrink themselves via austerity or privatisation. The authors cited statistical evidence for the spread of neoliberal policies since 1980, and their correlation with anaemic growth, boom-and-bust cycles and inequality.

Neoliberalism is an old term, dating back to the 1930s, but it has been revived as a way of describing our current politics – or more precisely, the range of thought allowed by our politics . In the aftermath of the 2008 financial crisis, it was a way of assigning responsibility for the debacle, not to a political party per se, but to an establishment that had conceded its authority to the market. For the Democrats in the US and Labour in the UK, this concession was depicted as a grotesque betrayal of principle. Bill Clinton and Tony Blair, it was said, had abandoned the left's traditional commitments, especially to workers, in favour of a global financial elite and the self-serving policies that enriched them; and in doing so, had enabled a sickening rise in inequality.

Neoliberalism: the idea that swallowed the world – podcast

Over the past few years, as debates have turned uglier, the word has become a rhetorical weapon, a way for anyone left of centre to incriminate those even an inch to their right. (No wonder centrists say it's a meaningless insult: they're the ones most meaningfully insulted by it.) But "neoliberalism" is more than a gratifyingly righteous jibe. It is also, in its way, a pair of eyeglasses.

Peer through the lens of neoliberalism and you see more clearly how the political thinkers most admired by Thatcher and Reagan helped shape the ideal of society as a kind of universal market (and not, for example, a polis, a civil sphere or a kind of family) and of human beings as profit-and-loss calculators (and not bearers of grace, or of inalienable rights and duties). Of course the goal was to weaken the welfare state and any commitment to full employment, and – always – to cut taxes and deregulate. But "neoliberalism" indicates something more than a standard rightwing wish list. It was a way of reordering social reality, and of rethinking our status as individuals.

Still peering through the lens, you see how, no less than the welfare state, the free market is a human invention. You see how pervasively we are now urged to think of ourselves as proprietors of our own talents and initiative, how glibly we are told to compete and adapt. You see the extent to which a language formerly confined to chalkboard simplifications describing commodity markets (competition, perfect information, rational behaviour) has been applied to all of society, until it has invaded the grit of our personal lives, and how the attitude of the salesman has become enmeshed in all modes of self-expression.

In short, "neoliberalism" is not simply a name for pro-market policies, or for the compromises with finance capitalism made by failing social democratic parties. It is a name for a premise that, quietly, has come to regulate all we practise and believe: that competition is the only legitimate organising principle for human activity.

No sooner had neoliberalism been certified as real, and no sooner had it made clear the universal hypocrisy of the market, than the populists and authoritarians came to power. In the US, Hillary Clinton, the neoliberal arch-villain, lost – and to a man who knew just enough to pretend he hated free trade . So are the eyeglasses now useless? Can they do anything to help us understand what is broken about British and American politics? Against the forces of global integration, national identity is being reasserted, and in the crudest possible terms. What could the militant parochialism of Brexit Britain and Trumpist America have to do with neoliberal rationality? What possible connection is there between the president – a freewheeling boob – and the bloodless paragon of efficiency known as the free market?

It isn't only that the free market produces a tiny cadre of winners and an enormous army of losers – and the losers, looking for revenge, have turned to Brexit and Trump. There was, from the beginning, an inevitable relationship between the utopian ideal of the free market and the dystopian present in which we find ourselves; between the market as unique discloser of value and guardian of liberty, and our current descent into post-truth and illiberalism.

Moving the stale debate about neoliberalism forward begins, I think, with taking seriously the measure of its cumulative effect on all of us, regardless of affiliation. And this requires returning to its origins, which have nothing to do with Bill or Hillary Clinton. There once was a group of people who did call themselves neoliberals, and did so proudly, and their ambition was a total revolution in thought. The most prominent among them, Friedrich Hayek, did not think he was staking out a position on the political spectrum, or making excuses for the fatuous rich, or tinkering along the edges of microeconomics.

He thought he was solving the problem of modernity: the problem of objective knowledge. For Hayek, the market didn't just facilitate trade in goods and services; it revealed truth. How did his ambition collapse into its opposite – the mind-bending possibility that, thanks to our thoughtless veneration of the free market, truth might be driven from public life altogether?


When the idea occurred to Friedrich Hayek in 1936, he knew, with the conviction of a "sudden illumination", that he had struck upon something new. "How can the combination of fragments of knowledge existing in different minds," he wrote, "bring about results which, if they were to be brought about deliberately, would require a knowledge on the part of the directing mind which no single person can possess?"

This was not a technical point about interest rates or deflationary slumps. This was not a reactionary polemic against collectivism or the welfare state. This was a way of birthing a new world. To his mounting excitement, Hayek understood that the market could be thought of as a kind of mind.

Adam Smith's "invisible hand" had already given us the modern conception of the market: as an autonomous sphere of human activity and therefore, potentially, a valid object of scientific knowledge. But Smith was, until the end of his life, an 18th-century moralist. He thought the market could be justified only in light of individual virtue, and he was anxious that a society governed by nothing but transactional self-interest was no society at all. Neoliberalism is Adam Smith without the anxiety.

That Hayek is considered the grandfather of neoliberalism – a style of thought that reduces everything to economics – is a little ironic given that he was such a mediocre economist. He was just a young, obscure Viennese technocrat when he was recruited to the London School of Economics to compete with, or possibly even dim, the rising star of John Maynard Keynes at Cambridge.

The plan backfired, and Hayek lost out to Keynes in a rout. Keynes's General Theory of Employment, Interest and Money, published in 1936, was greeted as a masterpiece. It dominated the public discussion, especially among young English economists in training, for whom the brilliant, dashing, socially connected Keynes was a beau idéal . By the end of the second world war, many prominent free-marketers had come around to Keynes's way of thinking, conceding that government might play a role in managing a modern economy. The initial excitement over Hayek had dissipated. His peculiar notion that doing nothing could cure an economic depression had been discredited in theory and practice. He later admitted that he wished his work criticising Keynes would simply be forgotten.

... Hayek built into neoliberalism the assumption that the market provides all necessary protection against the one real political danger: totalitarianism. To prevent this, the state need only keep the market free.

This last is what makes neoliberalism "neo". It is a crucial modification of the older belief in a free market and a minimal state, known as "classical liberalism". In classical liberalism, merchants simply asked the state to "leave us alone" – to laissez-nous faire. Neoliberalism recognised that the state must be active in the organisation of a market economy. The conditions allowing for a free market must be won politically, and the state must be re-engineered to support the free market on an ongoing basis.

That isn't all: every aspect of democratic politics, from the choices of voters to the decisions of politicians, must be submitted to a purely economic analysis. The lawmaker is obliged to leave well enough alone – to not distort the natural actions of the marketplace – and so, ideally, the state provides a fixed, neutral, universal legal framework within which market forces operate spontaneously. The conscious direction of government is never preferable to the "automatic mechanism of adjustment" – ie the price system, which is not only efficient but maximises liberty, or the opportunity for men and women to make free choices about their own lives.

As Keynes jetted between London and Washington, creating the postwar order, Hayek sat pouting in Cambridge. He had been sent there during the wartime evacuations; and he complained that he was surrounded by "foreigners" and "no lack of orientals of all kinds" and "Europeans of practically all nationalities, but very few of real intelligence".

Stuck in England, without influence or respect, Hayek had only his idea to console him; an idea so grand it would one day dissolve the ground beneath the feet of Keynes and every other intellectual. Left to its own devices, the price system functions as a kind of mind. And not just any mind, but an omniscient one: the market computes what individuals cannot grasp. Reaching out to him as an intellectual comrade-in-arms, the American journalist Walter Lippmann wrote to Hayek, saying: "No human mind has ever understood the whole scheme of a society At best a mind can understand its own version of the scheme, something much thinner, which bears to reality some such relation as a silhouette to a man."

It is a grand epistemological claim – that the market is a way of knowing, one that radically exceeds the capacity of any individual mind. Such a market is less a human contrivance, to be manipulated like any other, than a force to be studied and placated. Economics ceases to be a technique – as Keynes believed it to be – for achieving desirable social ends, such as growth or stable money. The only social end is the maintenance of the market itself. In its omniscience, the market constitutes the only legitimate form of knowledge, next to which all other modes of reflection are partial, in both senses of the word: they comprehend only a fragment of a whole and they plead on behalf of a special interest. Individually, our values are personal ones, or mere opinions; collectively, the market converts them into prices, or objective facts.

... ... ...

The more Hayek's idea expands, the more reactionary it gets, the more it hides behind its pretence of scientific neutrality – and the more it allows economics to link up with the major intellectual trend of the west since the 17th century. The rise of modern science generated a problem: if the world is universally obedient to natural laws, what does it mean to be human? Is a human being simply an object in the world, like any other? There appears to be no way to assimilate the subjective, interior human experience into nature as science conceives it – as something objective whose rules we discover by observation.

... ... ...

More than anyone, even Hayek himself, it was the great postwar Chicago economist Milton Friedman who helped convert governments and politicians to the power of Hayek's Big Idea. But first he broke with two centuries of precedent and declared that economics is "in principle independent of any particular ethical position or normative judgments" and is "an 'objective' science, in precisely the same sense as any of the physical sciences". Values of the old, mental, normative kind were defective, they were "differences about which men can ultimately only fight". There is the market, in other words, and there is relativism.

Markets may be human facsimiles of natural systems, and like the universe itself, they may be authorless and valueless. But the application of Hayek's Big Idea to every aspect of our lives negates what is most distinctive about us. That is, it assigns what is most human about human beings – our minds and our volition – to algorithms and markets, leaving us to mimic, zombie-like, the shrunken idealisations of economic models. Supersizing Hayek's idea and radically upgrading the price system into a kind of social omniscience means radically downgrading the importance of our individual capacity to reason – our ability to provide and evaluate justifications for our actions and beliefs.

As a result, the public sphere – the space where we offer up reasons, and contest the reasons of others – ceases to be a space for deliberation, and becomes a market in clicks, likes and retweets. The internet is personal preference magnified by algorithm; a pseudo-public space that echoes the voice already inside our head. Rather than a space of debate in which we make our way, as a society, toward consensus, now there is a mutual-affirmation apparatus banally referred to as a "marketplace of ideas". What looks like something public and lucid is only an extension of our own pre-existing opinions, prejudices and beliefs, while the authority of institutions and experts has been displaced by the aggregative logic of big data. When we access the world through a search engine, its results are ranked, as the founder of Google puts it, "recursively" – by an infinity of individual users functioning as a market, continuously and in real time.

... ... ...

According to the logic of Hayek's Big Idea, these expressions of human subjectivity are meaningless without ratification by the market – as Friedman said, they are nothing but relativism, each as good as any other. When the only objective truth is determined by the market, all other values have the status of mere opinions; everything else is relativist hot air. But Friedman's "relativism" is a charge that can be thrown at any claim based on human reason. It is a nonsense insult, as all humanistic pursuits are "relative" in a way the sciences are not. They are relative to the (private) condition of having a mind, and the (public) need to reason and understand even when we can't expect scientific proof. When our debates are no longer resolved by deliberation over reasons, then the whimsies of power will determine the outcome.

This is where the triumph of neoliberalism meets the political nightmare we are living through now. "You had one job," the old joke goes, and Hayek's grand project, as originally conceived in 30s and 40s, was explicitly designed to prevent a backslide into political chaos and fascism. But the Big Idea was always this abomination waiting to happen. It was, from the beginning, pregnant with the thing it was said to protect against. Society reconceived as a giant market leads to a public life lost to bickering over mere opinions; until the public turns, finally, in frustration to a strongman as a last resort for solving its otherwise intractable problems.

... ... ...

What began as a new form of intellectual authority, rooted in a devoutly apolitical worldview, nudged easily into an ultra-reactionary politics. What can't be quantified must not be real, says the economist, and how do you measure the benefits of the core faiths of the enlightenment – namely, critical reasoning, personal autonomy and democratic self-government? When we abandoned, for its embarrassing residue of subjectivity, reason as a form of truth, and made science the sole arbiter of both the real and the true, we created a void that pseudo-science was happy to fill.

... ... ...

[Sep 18, 2017] Critical Realism: Mathematics versus Mythematics in Economics

Highly recommended!
Notable quotes:
"... I argue here that it's the abuse of mathematics by Neoclassical economists -- who practice what I have dubbed "Mythematics" rather than Mathematics--and that some phenomena are uncovered by mathematical logic that can't be discovered by verbal logic alone. ..."
"... A lady in the audi­ence named Barb Jacobson suggested that using the name Neo-Classical gives it a cer­tain degree of cache and wants you guys to start call­ing it for what it is: "Scorched Earth Economics." What a great name to use and doesn't it ring true? ..."
Oct 02, 2015 | www.debtdeflation.com

This is the brief talk I gave at a conference celebrating 25 years of the Critical Realist seminar series at Cambridge University. Critical realists argue against the use of mathematics in economics; I argue here that it's the abuse of mathematics by Neoclassical economists -- who practice what I have dubbed "Mythematics" rather than Mathematics--and that some phenomena are uncovered by mathematical logic that can't be discovered by verbal logic alone.

I give the example of my own model of Minsky's Financial Instability Hypothesis, which revealed the possibility of a "Great Moderation" preceding a "Great Recession" before either event had happened.

David Milburn, September 12, 2015 at 9:38 am

Steve,

Last week Prof Bill Mitchell was in London where he gave a talk on re-framing the language used in the media that carried on the myth of the main­stream groupthink. A lady in the audi­ence named Barb Jacobson suggested that using the name Neo-Classical gives it a cer­tain degree of cache and wants you guys to start call­ing it for what it is: "Scorched Earth Economics." What a great name to use and doesn't it ring true? Barb Jacobson is spot on!

Sue Madden, September 13, 2015 at 8:28 am

Hi Steve,
I was really amused to see an inter­view a while back in the New Sci­en­tist, with the "research chief" (!!) at the B of E. If you haven't seen it, you really must:

Opinion Interview with Andy Haldane: "Sackcloth and Ashes on Thread needle Street" New Scientist 25 March 2015

Corbyn was elected leader!!!! Now the sparks will fly. At least a pub­lic debate wor­thy of the name might at last be heard in our sad country.

Thanks for your work in trying to enlighten us!!
Sue.

[Sep 18, 2017] Looks like Trump initially has a four point platform that was anti-neoliberal in its essence: non-interventionism, no to neoliberal globalization, no to outsourcing of jobs, and no to multiculturism. All were betrayed very soon

Highly recommended!
Jun 02, 2017 | economistsview.typepad.com

It looks like Trump initially has a four point platform that was anti-neoliberal in its essence:

  1. Non-interventionism. End the wars for the expansion of American neoliberal empire. Détente was Russia. Abolishing NATO and saving money on this. Let European defend themselves. Etc.
  2. No to neoliberal globalization. Abolishing of transnational treaties that favor large multinationals such as TPP, NAFTA, etc. Tariffs and other means of punishing corporations who move production overseas. Repatriation of foreign profits to the USA and closing of tax holes which allow to keep profits in tax heavens without paying a dime to the US government.
  3. No to neoliberal "transnational job market" -- free movement of labor. Criminal prosecution and deportation of illegal immigrants. Cutting intake of refugees. Curtailing legal immigration, especially fake and abused programs like H1B. Making it more difficult for people from countries with substantial terrorist risk to enter the USA including temporary prohibition of issuing visas from certain (pretty populous) Muslim countries.
  4. No to the multiculturalism. Stress on "Christian past" and "white heritage" of American society and the role of whites in building the country. Rejection of advertising "special rights" of minorities such as black population, LGBT, etc. Promotion them as "identity wedges" in elections was the trick so dear to DemoRats and, especially Hillary and Obama.

That means that Trump election platform on an intuitive level has caught several important problem that were created in the US society by dismantling of the "New Deal" and rampant neoliberalism practiced since Reagan ("Greed is good" mantra).

Of cause, after election he decided to practice the same "bait and switch" maneuver as Obama. Generally he folded in less then 100 days. Not without help from DemoRats (Neoliberal Democrats) which created a witch hunt over "Russian ties" with their dreams of the second Watergate.

But in any case, this platform still provides a path to election victory in any forthcoming election, as problems listed are real , are not solved, and are extremely important for lower 90% of Americans. Tulsi Gabbard so far is that only democratic politician that IMHO qualifies. Sanders is way too old and somewhat inconsistent on No.1.

Frank was the first to note this "revolutionary" part of Tramp platform:

http://www.theguardian.com/commentisfree/2016/mar/07/donald-trump-why-americans-support

Last week, I decided to watch several hours of Trump speeches for myself. I saw the man ramble and boast and threaten and even seem to gloat when protesters were ejected from the arenas in which he spoke. I was disgusted by these things, as I have been disgusted by Trump for 20 years. But I also noticed something surprising. In each of the speeches I watched, Trump spent a good part of his time talking about an entirely legitimate issue, one that could even be called left-wing.

Yes, Donald Trump talked about trade. In fact, to judge by how much time he spent talking about it, trade may be his single biggest concern – not white supremacy. Not even his plan to build a wall along the Mexican border, the issue that first won him political fame.

He did it again during the debate on 3 March: asked about his political excommunication by Mitt Romney, he chose to pivot and talk about trade.

It seems to obsess him: the destructive free-trade deals our leaders have made, the many companies that have moved their production facilities to other lands, the phone calls he will make to those companies' CEOs in order to threaten them with steep tariffs unless they move back to the US.

[Sep 18, 2017] Its always bizarre who easily neoliberals turn into hawkish and warmongering jerks

Highly recommended!
Notable quotes:
"... Why it is bizarre. This is the political regime we are living in: there are now two war parties in the USA now: DemoRats and Repugs, not only one as in good old days. ..."
Apr 09, 2017 | economistsview.typepad.com
Peter K. , April 07, 2017 at 01:41 PM
pgl -> pgl...

Pentagon spokesman Captain Jeff Davis said in an official statement: "Russian forces were notified in advance of the strike using the established deconfliction line. U.S. military planners took precautions to minimize risk to Russian or Syrian personnel located at the airfield."

I guess they could say this was the right thing to do...

Peter K. -> Peter K.... , April 07, 2017 at 01:41 PM
Would you want Russia doing military strikes without notifying U.S. forces first?

It's always bizarre when liberals turn all hawkish and warmongering.

libezkova -> Peter K.... , April 07, 2017 at 05:38 PM
"It's always bizarre when liberals turn all hawkish and warmongering."

Why it is bizarre. This is the political regime we are living in: there are now two war parties in the USA now: DemoRats and Repugs, not only one as in good old days.

How Hillary is different from Senator McShame is unclear to me.

[Sep 16, 2017] The Transformation of the American Dream

Highly recommended!
Notable quotes:
"... Language is important, but it can be slippery. Consider that the phrase, the American Dream, has changed radically through the years. Mr. Trump and Ben Carson, the secretary of housing and urban development, have suggested it involves owning a beautiful home and a roaring business, but it wasn't always so. Instead, in the 1930s, it meant freedom, mutual respect and equality of opportunity. It had more to do with morality than material success. ..."
"... This drift in meaning is significant... ..."
"... Survival and security are the bottom 2 levels on Maslow's pyramid. If that's at the top of the wish list it doesn't speak well of the environment where the list is made. I would say most people are aiming for levels 3-5, taking 1-2 for "granted" - but while level 1 (survival) is pretty much assured unless you get sick or are shot by a cop, level 2 is increasingly brittle. ..."
"... In different US locations, I heard my share of "living the dream" in response to "how are you" from retail clerks - which is obviously ironic and shows that people are well aware of it just being a narrative. It also reminds me of a quip in a Dilbert cartoon many years ago - "you only have the right to pursue happiness, not to actually achieve it". ..."
"... And what George Carlin had to say on the topic. ..."
Sep 16, 2017 | economistsview.typepad.com

Robert Shiller:

The Transformation of the 'American Dream' : "The American Dream is back." President Trump made that claim in a speech in January.

They are ringing words, but what do they mean? Language is important, but it can be slippery. Consider that the phrase, the American Dream, has changed radically through the years. Mr. Trump and Ben Carson, the secretary of housing and urban development, have suggested it involves owning a beautiful home and a roaring business, but it wasn't always so. Instead, in the 1930s, it meant freedom, mutual respect and equality of opportunity. It had more to do with morality than material success.

This drift in meaning is significant...

RC AKA Darryl, Ron said in reply to RC AKA Darryl, Ron... , August 06, 2017 at 08:09 AM

[How I achieved the American Dream -]

http://www.richmond.com/news/virginia/government-politics/northrop-grumman-lays-off-state-workers-under-contract-with-vita/article_3d39c735-9793-5885-aba5-135f6b24d3bf.html

Northrop Grumman lays off 51 state workers under contract with VITA

By MICHAEL MARTZ Richmond Times-Dispatch

Jun 16, 2015

...
While Northrop Grumman made the decision on the layoffs, VITA informed the affected workers because they are state employees and placed them on leave through June 30. The state Department of Human Resources Management assisted the technology agency with the layoffs through its shared services center.

Affected employees will be offered state severance packages based on years of service, early retirement options, and "access to outplacement services."...

cm -> RC AKA Darryl, Ron... , August 06, 2017 at 04:48 PM
What you describe in the first sentence is only one of many interpretations. But the (al)lure of the meme is that the interpretation is open-ended (one could also say "not well defined"; but isn't that what freedom is about - that the outcome and the way of achieving it are not rigidly prescribed?).

Survival and security are the bottom 2 levels on Maslow's pyramid. If that's at the top of the wish list it doesn't speak well of the environment where the list is made. I would say most people are aiming for levels 3-5, taking 1-2 for "granted" - but while level 1 (survival) is pretty much assured unless you get sick or are shot by a cop, level 2 is increasingly brittle.

RC AKA Darryl, Ron said in reply to cm... , August 07, 2017 at 05:28 AM
The environment in a Detroit tenement grows a shorter Maslow's pyramid than Santa Clara Valley suburbs. Central VA is somewhere in between where the highest aspiration of the vast majority of people is to belong and have the esteem of others. Self-actualization and transcendence are not even things here save for a rare few strangers in a strange land.
cm -> RC AKA Darryl, Ron... , August 07, 2017 at 10:26 PM
Well, all these terms are subject to interpretation and exist in degrees. Obviously survival is a strong prerequisite for the higher levels, but one can partially achieve higher levels without having achieved lower levels fully. At least for a while; or having achieved a lower level may be illusory (this was my actual point).

I would dispute that "almost everybody" cannot achieve esteem/self-actualization - at least for a while. How strong/persistent need the achievement be to count?

Then there is even the fundamental issue of knowing whether a level has really been "permanently" secured. E.g. safety - which can usually only be judged by demonstration of its absence.

Michael , August 06, 2017 at 03:53 PM
When Drumpf talks about the American Dream, he means more wealth, freedom, control, and sleaze for the oligarchy.
cm -> Michael... , August 06, 2017 at 04:36 PM
No he actually doesn't. It is just a BS phrase/meme, similar to "hard work". It is just signaling that one cares for/appreciates general virtues and the audience's desire for recognition and happiness. In the case of "hard work", perhaps also with the aspect of pushing role model narratives.

I never heard these phrases in any other context.

cm -> Michael... , August 06, 2017 at 04:41 PM
In different US locations, I heard my share of "living the dream" in response to "how are you" from retail clerks - which is obviously ironic and shows that people are well aware of it just being a narrative. It also reminds me of a quip in a Dilbert cartoon many years ago - "you only have the right to pursue happiness, not to actually achieve it".

And what George Carlin had to say on the topic.

[Sep 13, 2017] A despot in disguise: one mans mission to rip up democracy by George Monbiot

Highly recommended!
Notable quotes:
"... He aimed, in short, to save capitalism from democracy. ..."
Sep 13, 2017 | www.theguardian.com

theguardian.com

George Monbiot's the missing chapter: a key to understanding the politics of the past half century. To read Nancy MacLean's new book, Democracy in Chains : The Deep History of the Radical Right's Stealth Plan for America, is to see what was previously invisible.

The history professor's work on the subject began by accident. In 2013 she stumbled across a deserted clapboard house on the campus of George Mason University in Virginia. It was stuffed with the unsorted archives of a man who had died that year whose name is probably unfamiliar to you: James McGill Buchanan. She says the first thing she picked up was a stack of confidential letters concerning millions of dollars transferred to the university by the billionaire Charles Koch .

Her discoveries in that house of horrors reveal how Buchanan, in collaboration with business tycoons and the institutes they founded, developed a hidden programme for suppressing democracy on behalf of the very rich. The programme is now reshaping politics, and not just in the US.

Buchanan was strongly influenced by both the neoliberalism of Friedrich Hayek and Ludwig von Mises , and the property supremacism of John C Calhoun, who argued in the first half of the 19th century that freedom consists of the absolute right to use your property (including your slaves) however you may wish; any institution that impinges on this right is an agent of oppression, exploiting men of property on behalf of the undeserving masses.

James Buchanan brought these influences together to create what he called public choice theory . He argued that a society could not be considered free unless every citizen has the right to veto its decisions. What he meant by this was that no one should be taxed against their will. But the rich were being exploited by people who use their votes to demand money that others have earned, through involuntary taxes to support public spending and welfare. Allowing workers to form trade unions and imposing graduated income taxes were forms of "differential or discriminatory legislation" against the owners of capital.

Any clash between "freedom" (allowing the rich to do as they wish) and democracy should be resolved in favour of freedom. In his book The Limits of Liberty , he noted that "despotism may be the only organisational alternative to the political structure that we observe." Despotism in defence of freedom.

His prescription was a "constitutional revolution": creating irrevocable restraints to limit democratic choice. Sponsored throughout his working life by wealthy foundations, billionaires and corporations, he developed a theoretical account of what this constitutional revolution would look like, and a strategy for implementing it.

He explained how attempts to desegregate schooling in the American south could be frustrated by setting up a network of state-sponsored private schools. It was he who first proposed privatizing universities, and imposing full tuition fees on students: his original purpose was to crush student activism. He urged privatization of social security and many other functions of the state. He sought to break the links between people and government, and demolish trust in public institutions. He aimed, in short, to save capitalism from democracy.

In 1980, he was able to put the programme into action. He was invited to Chile , where he helped the Pinochet dictatorship write a new constitution, which, partly through the clever devices Buchanan proposed, has proved impossible to reverse entirely. Amid the torture and killings, he advised the government to extend programmes of privatisation, austerity, monetary restraint, deregulation and the destruction of trade unions: a package that helped trigger economic collapse in 1982.

None of this troubled the Swedish Academy, which through his devotee at Stockholm University Assar Lindbeck in 1986 awarded James Buchanan the Nobel memorial prize for economics . It is one of several decisions that have turned this prize toxic.

Koch officials said that the network's midterm budget for policy and politics is between $300m and $400m, but donors are demanding legislative progress

But his power really began to be felt when Koch, currently the seventh richest man in the US, decided that Buchanan held the key to the transformation he sought. Koch saw even such ideologues as Milton Friedman and Alan Greenspan as "sellouts", as they sought to improve the efficiency of government rather than destroy it altogether . But Buchanan took it all the way.

MacLean says that Charles Koch poured millions into Buchanan's work at George Mason University, whose law and economics departments look as much like corporate-funded thinktanks as they do academic faculties. He employed the economist to select the revolutionary "cadre" that would implement his programme (Murray Rothbard, at the Cato Institute that Koch founded, had urged the billionaire to study Lenin's techniques and apply them to the libertarian cause). Between them, they began to develop a programme for changing the rules.

The papers Nancy MacLean discovered show that Buchanan saw stealth as crucial. He told his collaborators that "conspiratorial secrecy is at all times essential". Instead of revealing their ultimate destination, they would proceed by incremental steps. For example, in seeking to destroy the social security system, they would claim to be saving it, arguing that it would fail without a series of radical "reforms". (The same argument is used by those attacking the NHS). Gradually they would build a "counter-intelligentsia", allied to a "vast network of political power" that would become the new establishment.

Through the network of thinktanks that Koch and other billionaires have sponsored, through their transformation of the Republican party, and the hundreds of millions they have poured into state congressional and judicial races, through the mass colonisation of Trump's administration by members of this network and lethally effective campaigns against everything from public health to action on climate change, it would be fair to say that Buchanan's vision is maturing in the US.

But not just there. Reading this book felt like a demisting of the window through which I see British politics. The bonfire of regulations highlighted by the Grenfell Tower disaster, the destruction of state architecture through austerity, the budgeting rules, the dismantling of public services, tuition fees and the control of schools: all these measures follow Buchanan's programme to the letter. I wonder how many people are aware that David Cameron's free schools project stands in a tradition designed to hamper racial desegregation in the American south.

In one respect, Buchanan was right: there is an inherent conflict between what he called "economic freedom" and political liberty. Complete freedom for billionaires means poverty, insecurity, pollution and collapsing public services for everyone else. Because we will not vote for this, it can be delivered only through deception and authoritarian control. The choice we face is between unfettered capitalism and democracy. You cannot have both.

Buchanan's programme is a prescription for totalitarian capitalism. And his disciples have only begun to implement it. But at least, thanks to MacLean's discoveries, we can now apprehend the agenda. One of the first rules of politics is, know your enemy. We're getting there.

[Sep 11, 2017] Neo-classical economics as a new flat earth cult

Highly recommended!
Notable quotes:
"... Comparative advantage is an absurdity. Protectionism is the only way to wealth, yet economists brainwashed generations of 17 and 18 year olds to believe that up was down and free trade would help the US. ..."
"... This is a new "flat earth" cult. And pretty well paid one: academic economists recently became something like lackeys of financial oligarchy and get some crump from the financial oligarchy table in return to promoting neo-classical economics, as a valuable for neoliberals pseudo-science. ..."
"... People who "do not fit" are filtered at early stages, much like in political parties. Nepotism is another factor. Having relatives in high positions (like is the case with Summers), being member of the dominant ethnic clan, or being a friend of an influential economist (like academic Mafiosi Andrei Shleifer) greatly helps... ..."
"... The most interesting part about this pseudoscience is how well it fits together (reminding me Marxism, to which it was a reaction). ..."
Apr 11, 2017 | economistsview.typepad.com

Will US Economists apologize for destroying the US? Free trade ruined America, April 11, 2017 at 03:28 PM

Will the American Economic Association ever apologize to the American people for helping to destroy the country with their absurd, simple-minded free trade preaching?

Comparative advantage is an absurdity. Protectionism is the only way to wealth, yet economists brainwashed generations of 17 and 18 year olds to believe that up was down and free trade would help the US.

AEA should toast itself in the ruins of Ohio, North Carolina or Iowa - pick any one of the thousands of ruined cities to gloat over.

libezkova -> Will US Economists apologize for destroying the US? Free trade ruined America, April 11, 2017 at 04:48 PM
You are simply naïve.

This is a new "flat earth" cult. And pretty well paid one: academic economists recently became something like lackeys of financial oligarchy and get some crump from the financial oligarchy table in return to promoting neo-classical economics, as a valuable for neoliberals pseudo-science.

Tremendous value of neoclassical economics for neoliberals is that they can use mathiness (trying to imitate physics) to obscure the promotions of neoliberal thinking. In fact, neoclassical economics is the major tool of indoctrination into "free market" nonsense of university students.

People who "do not fit" are filtered at early stages, much like in political parties. Nepotism is another factor. Having relatives in high positions (like is the case with Summers), being member of the dominant ethnic clan, or being a friend of an influential economist (like academic Mafiosi Andrei Shleifer) greatly helps...

People who do not fit but have tremendous talent are often suppressed. Like was the case with Hyman Minsky (and he was lucky that his career was at late stages during the full triumph of neoliberalism -- he managed to get a tenured professor position in 1965 when he was 46)

The most interesting part about this pseudoscience is how well it fits together (reminding me Marxism, to which it was a reaction).

Set of neoclassical myths such as "efficient market hypothesis", "rational expectations", "generalized stochastic equilibrium", "invisible hand", comprise a pretty coherent "secular religion". It may even have some minor value as a mathematical theory of some fictitious economic space (almost like in a computer game like Civilization) that never existed and will never exist.

But it is sold differently and tends to produce predictions and prescriptions (highly politicized in their nature) in line with neoliberal thinking. That's why it is maintained and promoted.

So expecting them to apologize is nonsense.

You can benefit from re-reading recent discussion of Karl Polanyi famous book "The Great Transformation" in this blog

http://economistsview.typepad.com/economistsview/2017/03/a-foreword-to-kari-polanyi-levitt.html#comment-6a00d83451b33869e201b7c8de5388970b

Another interesting question is how neoliberalism and neo-classical economics survived the financial meltdown. Here Professor Phillip Mirowski has some interesting insights:

https://www.youtube.com/watch?v=zsiT9P87J4g

>

[Sep 11, 2017] Neoliberalism is creating loneliness. That's what is wrenching society apart by George Monbiot

Highly recommended!
Notable quotes:
"... Consumerism fills the social void. But far from curing the disease of isolation, it intensifies social comparison to the point at which, having consumed all else, we start to prey upon ourselves. Social media brings us together and drives us apart, allowing us precisely to quantify our social standing, and to see that other people have more friends and followers than we do. ..."
"... A recent survey in England suggests that one in four women between 16 and 24 have harmed themselves, and one in eight now suffer from post-traumatic stress disorder. Anxiety, depression, phobias or obsessive compulsive disorder affect 26% of women in this age group. This is what a public health crisis looks like. ..."
"... Opioids relieve both physical agony and the distress of separation. Perhaps this explains the link between social isolation and drug addiction. ..."
"... Children who experience emotional neglect, according to some findings, suffer worse mental health consequences than children suffering both emotional neglect and physical abuse: hideous as it is, violence involves attention and contact. Self-harm is often used as an attempt to alleviate distress: another indication that physical pain is not as bad as emotional pain. As the prison system knows only too well, one of the most effective forms of torture is solitary confinement. ..."
"... It's unsurprising that social isolation is strongly associated with depression, suicide, anxiety, insomnia, fear and the perception of threat. It's more surprising to discover the range of physical illnesses it causes or exacerbates. Dementia, high blood pressure, heart disease, strokes, lowered resistance to viruses, even accidents are more common among chronically lonely people. Loneliness has a comparable impact on physical health to smoking 15 cigarettes a day: it appears to raise the risk of early death by 26%. This is partly because it enhances production of the stress hormone cortisol, which suppresses the immune system. ..."
"... Neoliberalism is a project that explicitly aims, and has achieved, the undermining and elimination of social networks in favour of market competition ..."
"... In practice, loosening social and legal institutions has reduced social security (in the general sense rather than simply welfare payments) and encouraged the limitation of social interaction to money based activity ..."
"... All powerful institutions have a vested interest in keeping us atomized and individualistic. The gangs at the top don't want competition. They're afraid of us. In particular, they're afraid of men organising into gangs. That's where this very paper comes in ..."
"... The alienation genie was out of the bottle with the beginning of the Industrial Revolution and mass migration to cities began and we abandoned living in village communities ..."
"... Neoliberalism expressly encourages 'atomisation'- it is all about reducing human interaction to markets. And so this is just one of the reasons that neoliberalism is such a bunk philosophy. ..."
"... My stab at an answer would first question the notion that we are engaging in anything. That presupposes we are making the choices. Those who set out the options are the ones that make the choices. We are being engaged by the grotesquely privileged and the pathologically greedy in an enterprise that profits them still further. It suits the 1% very well strategically, for obvious reasons, that the 99% don't swap too many ideas with each other. ..."
"... According to Robert Putnam, as societies become more ethnically diverse they lose social capital, contributing to the type of isolation and loneliness which George describes. Doesn't sound as evil as neoliberalism I suppose. ..."
"... multiculturalism is a direct result of Neoliberalism. The market rules and people are secondary. Everything must be done for business owners, and that everything means access to cheap labor. ..."
"... I'd have thought what he really wants to say is that loneliness as a phenomenon in modern Western society arises out of an intent on the part of our political and social elites to divide us all into competing against one another, as individuals and as members of groups, all the better to keep us under control and prevent us from working together to claim our fair share of resources. ..."
"... Has it occurred to you that the collapse in societal values has allowed 'neo-liberalism' to take hold? ..."
"... No. It has been the concentrated propaganda of the "free" press. Rupert Murdoch in particular, but many other well-funded organisations working in the background over 50 years. They are winning. ..."
"... We're fixated on a magical, abstract concept called "the economy". Everything must be done to help "the economy", even if this means adults working through their weekends, neglecting their children, neglecting their elderly parents, eating at their desks, getting diabetes, breaking down from stress, and giving up on a family life. ..."
"... You can make a reasonable case that 'Neoliberalism' expects that every interaction, including between individuals, can be reduced to a financial one. ..."
"... As can be seen from many of the posts, neo-liberalism depends on, and fosters, ignorance, an inability to see things from historical and different perspectives and social and intellectual disciplines. On a sociological level how other societies are arranged throws up interesting comparisons. Scandanavian countries, which have mostly avoided neo-liberalism by and large, are happier, healthier places to live. America and eastern countries arranged around neo-liberal, market driven individualism, are unhappy places, riven with mental and physical health problems and many more social problems of violence, crime and suicide. ..."
"... The people who fosted this this system onto us, are now either very old or dead. We're living in the shadow of their revolutionary transformation of our more equitable post-war society. Hayek, Friedman, Keith Joseph, Thatcher, Greenspan and tangentially but very influentially Ayn Rand. Although a remainder (I love the wit of the term 'Remoaner') , Brexit can be better understood in the context of the death-knell of neoliberalism. ..."
"... Criticism of his hypotheses on this thread (where articualted at all) focus on the existence of solitude and loneliness prior to neo liberalism, which seems to me to be to deliberately miss his point: this was formerly a minor phenomenon, yet is now writ on an incredible scale - and it is a social phenomenon particular to those western economies whose elites have most enthusiastically embraced neo liberalism. ..."
"... We all want is to: (and feel we have the right to) wear the best clothes, have the foreign holidays, own the latest tech and eat the finest foods. At the same time our rights have increased and awareness of our responsibilities have minimized. The execution of common sense and an awareness that everything that goes wrong will always be someone else fault. ..."
"... We are not all special snowflakes, princesses or worthy of special treatment, but we act like self absorbed, entitled individuals. Whether that's entitled to benefits, the front of the queue or bumped into first because its our birthday! ..."
"... Unhealthy social interaction, yes. You can never judge what is natural to humans based on contemporary Britain. Anthropologists repeatedly find that what we think natural is merely a social construct created by the system we are subject to. ..."
"... We are becoming fearful of each other and I believe the insecurity we feel plays a part in this. ..."
"... We have become so disconnected from ourselves and focused on battling to stay afloat. Having experienced periods of severe stress due to lack of money I couldn't even begin to think about how I felt, how happy I was, what I really wanted to do with my life. I just had to pay my landlord, pay the bills and try and put some food on my table so everything else was totally neglected. ..."
"... We need a radical change of political thinking to focus on quality of life rather than obsession with the size of our economy. High levels of immigration of people who don't really integrate into their local communities has fractured our country along with the widening gap between rich and poor. Governments only see people in terms of their "economic value" - hence mothers being driven out to work, children driven into daycare and the elderly driven into care homes. Britain is becoming a soulless place - even our great British comedy is on the decline. ..."
"... Quality of life is far more important than GDP I agree but it is also far more important than inequality. ..."
"... Thatcher was only responsible for "letting it go" in Britain in 1980, but actually it was already racing ahead around the world. ..."
"... Eric Fromm made similar arguments to Monbiot about the psychological impact of modern capitalism (Fear of Freedom and The Sane Society) - although the Freudian element is a tad outdated. However, for all the faults of modern society, I'd rather be unhappy now than in say, Victorian England. Similarly, life in the West is preferable to the obvious alternatives. ..."
"... Whilst it's very important to understand how neoliberalism, the ideology that dare not speak it's name, derailed the general progress in the developed world. It's also necessary to understand that the roots this problem go much further back. Not merely to the start of the industrial revolution, but way beyond that. It actually began with the first civilizations when our societies were taken over by powerful rulers, and they essentially started to farm the people they ruled like cattle. On the one hand they declared themselves protector of their people, whilst ruthlessly exploiting them for their own political gain. I use the livestock farming analogy, because that explains what is going on. ..."
"... Neo-liberalism allows psychopaths to flourish, and it has been argued by Robert Hare that they are disproportionately represented in the highest echelons of society. So people who lack empathy and emotional attachment are probably weilding a significant amount of influence over the way our economy and society is organised. Is it any wonder that they advocate an economic model which is most conducive to their success? Things like job security, rigged markets, unions, and higher taxes on the rich simply get in their way. ..."
"... . Data suggests that inequality has widened massively over the last 30 years ( https://www.equalitytrust.org.uk/infographic-income-inequality-uk ) - as has social mobility ( https://www.theguardian.com/news/datablog/2012/may/22/social-mobility-data-charts ). Homelessness has risen substantially since 1979. ..."
"... As a director and CEO of an organisation employing several hundred people I became aware that 40% of the staff lived alone and that the workplace was important to them not only for work but also for interacting with their colleagues socially . ..."
"... A thoughtful article. But the rich and powerful will ignore it; their doing very well out of neo liberalism thank you. Meanwhile many of those whose lives are affected by it don't want to know - they're happy with their bigger TV screen. Which of course is what the neoliberals want, 'keep the people happy and in the dark'. An old Roman tactic - when things weren't going too well for citizens and they were grumbling the leaders just extended the 'games'. Evidently it did the trick ..."
"... Sounds like the inevitable logical outcome of a society where the predator sociopathic and their scared prey are all that is allowed. This dynamic dualistic tautology, the slavish terrorised to sleep and bullying narcissistic individual, will always join together to protect their sick worldview by pathologising anything that will threaten their hegemony of power abuse: compassion, sensitivity, moral conscience, altruism and the immediate effects of the ruthless social effacement or punishment of the same ie human suffering. ..."
"... "Alienation, in all areas, has reached unprecedented heights; the social machinery for deluding consciousnesses in the interest of the ruling class has been perfected as never before. The media are loaded with upscale advertising identifying sophistication with speciousness. Television, in constant use, obliterates the concept under the image and permanently feeds a baseless credulity for events and history. Against the will of many students, school doesn't develop the highly cultivated critical capacities that a real sovereignty of the people would require. And so on. ..."
"... There's no question - neoliberalism has been wrenching society apart. It's not as if the prime movers of this ideology were unaware of the likely outcome viz. "there is no such thing as society" (Thatcher). Actually in retrospect the whole zeitgeist from the late 70s emphasised the atomised individual separated from the whole. Dawkins' "The Selfish Gene" (1976) may have been influential in creating that climate. ..."
"... I would add that the basic concepts of the Neoliberal New world order are fundamentally Evil, from the control of world population through supporting of strife starvation and war to financial inducements of persons in positions of power. Let us not forget the training of our younger members of our society who have been induced to a slavish love of technology. ..."
"... The kind of personal freedom that you say goes hand in hand with capitalism is an illusion for the majority of people. It holds up the prospect of that kind of freedom, but only a minority get access to it. ..."
"... Problems in society are not solved by having a one hour a week class on "self esteem". In fact self-esteem and self-worth comes from the things you do. ..."
"... Neoliberalism is the bastard child of globalization which in effect is Americanization. The basic premise is the individual is totally reliant on the corporate world state aided by a process of fear inducing mechanisms, pharmacology is one of the tools. No community no creativity no free thinking. Poded sealed and cling filmed a quasi existence. ..."
"... Having grown up during the Thatcher years, I entirely agree that neoliberalism has divided society by promoting individual self-optimisation at the expensive of everyone else. ..."
"... There is no such thing as a free-market society. Your society of 'self-interest' is really a state supported oligarchy. If you really want to live in a society where there is literally no state and a more or less open market try Somalia or a Latin American city run by drug lords - but even then there are hierarchies, state involvement, militias. ..."
"... Furthermore, a society in which people are encouraged to be narrowly selfish is just plain uncivilized. Since when have sociopathy and barbarism been something to aspire to? ..."
"... Why don't we explore some of the benefits?.. Following the long list of some the diseases, loneliness can inflict on individuals, there must be a surge in demand for all sort of medications; anti-depressants must be topping the list. There is a host many other anti-stress treatments available of which Big Pharma must be carving the lion's share. Examine the micro-economic impact immediately following a split or divorce. There is an instant doubling on the demand for accommodation, instant doubling on the demand for electrical and household items among many other products and services. But the icing on the cake and what is really most critical for Neoliberalism must be this: With the morale barometer hitting the bottom, people will be less likely to think of a better future, and therefore, less likely to protest. In fact, there is nothing left worth protecting. ..."
"... Your freedom has been curtailed. Your rights are evaporating in front of your eyes. And Best of all, from the authorities' perspective, there is no relationship to defend and there is no family to protect. If you have a job, you want to keep, you must prove your worthiness every day to 'a company'. ..."
Oct 12, 2016 | www.theguardian.com

What greater indictment of a system could there be than an epidemic of mental illness? Yet plagues of anxiety, stress, depression, social phobia, eating disorders, self-harm and loneliness now strike people down all over the world. The latest, catastrophic figures for children's mental health in England reflect a global crisis.

There are plenty of secondary reasons for this distress, but it seems to me that the underlying cause is everywhere the same: human beings, the ultrasocial mammals, whose brains are wired to respond to other people, are being peeled apart. Economic and technological change play a major role, but so does ideology. Though our wellbeing is inextricably linked to the lives of others, everywhere we are told that we will prosper through competitive self-interest and extreme individualism.

In Britain, men who have spent their entire lives in quadrangles – at school, at college, at the bar, in parliament – instruct us to stand on our own two feet. The education system becomes more brutally competitive by the year. Employment is a fight to the near-death with a multitude of other desperate people chasing ever fewer jobs. The modern overseers of the poor ascribe individual blame to economic circumstance. Endless competitions on television feed impossible aspirations as real opportunities contract.

Consumerism fills the social void. But far from curing the disease of isolation, it intensifies social comparison to the point at which, having consumed all else, we start to prey upon ourselves. Social media brings us together and drives us apart, allowing us precisely to quantify our social standing, and to see that other people have more friends and followers than we do.

As Rhiannon Lucy Cosslett has brilliantly documented, girls and young women routinely alter the photos they post to make themselves look smoother and slimmer. Some phones, using their "beauty" settings, do it for you without asking; now you can become your own thinspiration. Welcome to the post-Hobbesian dystopia: a war of everyone against themselves.

Social media brings us together and drives us apart, allowing us precisely to quantify our social standing

Is it any wonder, in these lonely inner worlds, in which touching has been replaced by retouching, that young women are drowning in mental distress? A recent survey in England suggests that one in four women between 16 and 24 have harmed themselves, and one in eight now suffer from post-traumatic stress disorder. Anxiety, depression, phobias or obsessive compulsive disorder affect 26% of women in this age group. This is what a public health crisis looks like.

If social rupture is not treated as seriously as broken limbs, it is because we cannot see it. But neuroscientists can. A series of fascinating papers suggest that social pain and physical pain are processed by the same neural circuits. This might explain why, in many languages, it is hard to describe the impact of breaking social bonds without the words we use to denote physical pain and injury. In both humans and other social mammals, social contact reduces physical pain. This is why we hug our children when they hurt themselves: affection is a powerful analgesic. Opioids relieve both physical agony and the distress of separation. Perhaps this explains the link between social isolation and drug addiction.

Experiments summarised in the journal Physiology & Behaviour last month suggest that, given a choice of physical pain or isolation, social mammals will choose the former. Capuchin monkeys starved of both food and contact for 22 hours will rejoin their companions before eating. Children who experience emotional neglect, according to some findings, suffer worse mental health consequences than children suffering both emotional neglect and physical abuse: hideous as it is, violence involves attention and contact. Self-harm is often used as an attempt to alleviate distress: another indication that physical pain is not as bad as emotional pain. As the prison system knows only too well, one of the most effective forms of torture is solitary confinement.

It is not hard to see what the evolutionary reasons for social pain might be. Survival among social mammals is greatly enhanced when they are strongly bonded with the rest of the pack. It is the isolated and marginalised animals that are most likely to be picked off by predators, or to starve. Just as physical pain protects us from physical injury, emotional pain protects us from social injury. It drives us to reconnect. But many people find this almost impossible.

It's unsurprising that social isolation is strongly associated with depression, suicide, anxiety, insomnia, fear and the perception of threat. It's more surprising to discover the range of physical illnesses it causes or exacerbates. Dementia, high blood pressure, heart disease, strokes, lowered resistance to viruses, even accidents are more common among chronically lonely people. Loneliness has a comparable impact on physical health to smoking 15 cigarettes a day: it appears to raise the risk of early death by 26%. This is partly because it enhances production of the stress hormone cortisol, which suppresses the immune system.

Studies in both animals and humans suggest a reason for comfort eating: isolation reduces impulse control, leading to obesity. As those at the bottom of the socioeconomic ladder are the most likely to suffer from loneliness, might this provide one of the explanations for the strong link between low economic status and obesity?

Anyone can see that something far more important than most of the issues we fret about has gone wrong. So why are we engaging in this world-eating, self-consuming frenzy of environmental destruction and social dislocation, if all it produces is unbearable pain? Should this question not burn the lips of everyone in public life?

There are some wonderful charities doing what they can to fight this tide, some of which I am going to be working with as part of my loneliness project. But for every person they reach, several others are swept past.

This does not require a policy response. It requires something much bigger: the reappraisal of an entire worldview. Of all the fantasies human beings entertain, the idea that we can go it alone is the most absurd and perhaps the most dangerous. We stand together or we fall apart.

RachelL , 12 Oct 2016 03:57

Well its a bit of a stretch blaming neoliberalism for creating loneliness. Yet it seems to be the fashion today to imagine that the world we live in is new...only created just years ago. And all the suffering that we see now never existed before. Plagues of anxiety, stress, depression, social phobia, eating disorders, self-harm and loneliness never happened in the past, because everything was bright and shiny and world was good.

Regrettably history teaches us that suffering and deprivation have dogged mankind for centuries, if not tens of thousands of years. That's what we do; survive, persist...endure. Blaming 'neoliberalism' is a bit of cop-out. It's the human condition man, just deal with it.

B26354 , 12 Oct 2016 03:57
Some of the connections here are a bit tenuous, to say the least, including the link to political ideology. Economic liberalism is usually accompanied with social conservatism, and vice versa. Right wing ideologues are more likely to emphasize the values of marriage and family stability, while left wing ones are more likely to favor extremes of personal freedom and reject those traditional structures that used to bind us together.
ID236975 -> B26354 , 12 Oct 2016 04:15
You're a little confused there in your connections between policies, intentions and outcomes. Nevertheless, Neoliberalism is a project that explicitly aims, and has achieved, the undermining and elimination of social networks in favour of market competition.

In practice, loosening social and legal institutions has reduced social security (in the general sense rather than simply welfare payments) and encouraged the limitation of social interaction to money based activity.

As Monbiot has noted, we are indeed lonelier.

DoctorLiberty -> B26354 , 12 Oct 2016 04:18
That holds true when you're talking about demographics/voters.

Economic and social liberalism go hand in hand in the West. No matter who's in power, the establishment pushes both but will do one or the other covertly.

All powerful institutions have a vested interest in keeping us atomized and individualistic. The gangs at the top don't want competition. They're afraid of us. In particular, they're afraid of men organising into gangs. That's where this very paper comes in.

deskandchair , 12 Oct 2016 04:00
The alienation genie was out of the bottle with the beginning of the Industrial Revolution and mass migration to cities began and we abandoned living in village communities. Over the ensuing approx 250 years we abandoned geographically close relationships with extended families, especially post WW2. Underlying economic structures both capitalist and marxist dissolved relationships that we as communal primates evolved within. Then accelerate this mess with (anti-) social media the last 20 years along with economic instability and now dissolution of even the nuclear family (which couldn't work in the first place, we never evolved to live with just two parents looking after children) and here we have it: Mass mental illness. Solution? None. Just form the best type of extended community both within and outside of family, be engaged and generours with your community hope for the best.
terraform_drone -> deskandchair , 12 Oct 2016 04:42
Indeed, Industrialisation of our pre-prescribed lifestyle is a huge factor. In particular, our food, it's low quality, it's 24 hour avaliability, it's cardboard box ambivalence, has caused a myriad of health problems. Industrialisation is about profit for those that own the 'production-line' & much less about the needs of the recipient.
afinch , 12 Oct 2016 04:03

It's unsurprising that social isolation is strongly associated with depression, suicide, anxiety, insomnia, fear and the perception of threat.

Yes, although there is some question of which order things go in. A supportive social network is clearly helpful, but it's hardly a simple cause and effect. Levels of different mental health problems appear to differ widely across societies just in Europe, and it isn't particularly the case that more capitalist countries have greater incidence than less capitalist ones.

You could just as well blame atheism. Since the rise of neo-liberalism and drop in church attendance track each other pretty well, and since for all their ills churches did provide a social support group, why not blame that?

ID236975 -> afinch, 12 Oct 2016 04:22
While attending a church is likely to alleviate loneliness, atheism doesn't expressly encourage limiting social interactions and selfishness. And of course, reduced church attendance isn't exactly the same as atheism.

Neoliberalism expressly encourages 'atomisation'- it is all about reducing human interaction to markets. And so this is just one of the reasons that neoliberalism is such a bunk philosophy.

anotherspace , 12 Oct 2016 04:05
So why are we engaging in this world-eating, self-consuming frenzy of environmental destruction and social dislocation, if all it produces is unbearable pain?

My stab at an answer would first question the notion that we are engaging in anything. That presupposes we are making the choices. Those who set out the options are the ones that make the choices. We are being engaged by the grotesquely privileged and the pathologically greedy in an enterprise that profits them still further. It suits the 1% very well strategically, for obvious reasons, that the 99% don't swap too many ideas with each other.

notherspace -> TremblingFactHunt , 12 Oct 2016 05:46
We as individuals are offered the 'choice' of consumption as an alternative to the devastating ennui engendered by powerlessness. It's no choice at all of course, because consumption merely enriches the 1% and exacerbates our powerlessness. That was the whole point of my post.

The 'choice' to consume is never collectively exercised as you suggest. Sadly. If it was, 'we' might be able to organise ourselves into doing something about it.

Burstcouch , 12 Oct 2016 04:09
According to Robert Putnam, as societies become more ethnically diverse they lose social capital, contributing to the type of isolation and loneliness which George describes. Doesn't sound as evil as neoliberalism I suppose.
ParisHiltonCommune -> Burstcouch , 12 Oct 2016 07:59
Disagree. Im British but have had more foreign friends than British. The UK middle class tend to be boring insular social status obsessed drones.other nationalities have this too, but far less so
Dave Powell -> Burstcouch , 12 Oct 2016 10:54
Multiculturalism is destroying social cohesion.
ParisHiltonCommune -> Dave Powell , 12 Oct 2016 14:47
Well, yes, but multiculturalism is a direct result of Neoliberalism. The market rules and people are secondary. Everything must be done for business owners, and that everything means access to cheap labor.

Multiculturalism isn't the only thing destroying social cohesion, too. It was being destroyed long before the recent surges of immigrants. It was reported many times in the 1980's in communities made up of only one culture. In many ways, it is being used as the obvious distraction from all the other ways Fundamentalist Free Marketers wreck live for many.

Rozina , 12 Oct 2016 04:09
This post perhaps ranges too widely to the point of being vague and general, and leading Monbiot to make some huge mental leaps, linking loneliness to a range of mental and physical problems without being able to explain, for example, the link between loneliness and obesity and all the steps in-between without risking derailment into a side issue.

I'd have thought what he really wants to say is that loneliness as a phenomenon in modern Western society arises out of an intent on the part of our political and social elites to divide us all into competing against one another, as individuals and as members of groups, all the better to keep us under control and prevent us from working together to claim our fair share of resources.

Go on, George, you can say that, why not?

MSP1984 , 12 Oct 2016 04:18
Are you familiar with the term 'Laughter is the best medicine'? Well, it's true. When you laugh, your brain releases endorphins, yeah? Your stress hormones are reduced and the oxygen supply to your blood is increased, so...

I try to laugh several times a day just because... it makes you feel good! Let's try that, eh? Ohohoo... Hahaha... Just, just... Hahahaha... Come on, trust me.. you'll feel.. HahaHAhaha! O-o-o-o-a-hahahahaa... Share

ID8701745 , 12 Oct 2016 04:19
>Neoliberalism is creating loneliness.

Has it occurred to you that the collapse in societal values has allowed 'neo-liberalism' to take hold?

totaram -> ID8701745 , 12 Oct 2016 05:00
No. It has been the concentrated propaganda of the "free" press. Rupert Murdoch in particular, but many other well-funded organisations working in the background over 50 years. They are winning.
greenwichite , 12 Oct 2016 04:20
We're fixated on a magical, abstract concept called "the economy". Everything must be done to help "the economy", even if this means adults working through their weekends, neglecting their children, neglecting their elderly parents, eating at their desks, getting diabetes, breaking down from stress, and giving up on a family life.

Impertinent managers ban their staff from office relationships, as company policy, because the company is more important than its staff's wellbeing.

Companies hand out "free" phones that allow managers to harrass staff for work out of hours, on the understanding that they will be sidelined if thy don't respond.

And the wellbeing of "the economy" is of course far more important than whether the British people actually want to merge into a European superstate. What they want is irrelevant.

That nasty little scumbag George Osborne was the apotheosis of this ideology, but he was abetted by journalists who report any rise in GDP as "good" - no matter how it was obtained - and any "recession" to be the equivalent of a major natural disaster.

If we go on this way, the people who suffer the most will be the rich, because it will be them swinging from the lamp-posts, or cowering in gated communities that they dare not leave (Venezuela, South Africa). Those riots in London five years ago were a warning. History is littered with them.

DiscoveredJoys -> greenwichite , 12 Oct 2016 05:48
You can make a reasonable case that 'Neoliberalism' expects that every interaction, including between individuals, can be reduced to a financial one. If this results in loneliness then that's certainly a downside - but the upside is that billions have been lifted out of absolute poverty worldwide by 'Neoliberalism'.

Mr Monbiot creates a compelling argument that we should end 'Neoliberalism' but he is very vague about what should replace it other than a 'different worldview'. Destruction is easy, but creation is far harder.

concerned4democracy , 12 Oct 2016 04:28
As a retired teacher it grieves me greatly to see the way our education service has become obsessed by testing and assessment. Sadly the results are used not so much to help children learn and develop, but rather as a club to beat schools and teachers with. Pressurised schools produce pressurised children. Compare and contrast with education in Finland where young people are not formally assessed until they are 17 years old. We now assess toddlers in nursery schools.
SATs in Primary schools had children concentrating on obscure grammatical terms and usage which they will never ever use again. Pointless and counter-productive.
Gradgrind values driving out the joy of learning.
And promoting anxiety and mental health problems.
colddebtmountain , 12 Oct 2016 04:33
It is all the things you describe, Mr Monbiot, and then some. This dystopian hell, when anything that did work is broken and all things that have never worked are lined up for a little tinkering around the edges until the camouflage is good enough to kid people it is something new. It isn't just neoliberal madness that has created this, it is selfish human nature that has made it possible, corporate fascism that has hammered it into shape. and an army of mercenaries who prefer the take home pay to morality. Crime has always paid especially when governments are the crooks exercising the law.

The value of life has long been forgotten as now the only thing that matters is how much you can be screwed for either dead or alive. And yet the Trumps, the Clintons, the Camerons, the Johnsons, the Merkels, the Mays, the news media, the banks, the whole crooked lot of them, all seem to believe there is something worth fighting for in what they have created, when painfully there is not. We need revolution and we need it to be lead by those who still believe all humanity must be humble, sincere, selfless and most of all morally sincere. Freedom, justice, and equality for all, because the alternative is nothing at all.

excathedra , 12 Oct 2016 04:35
Ive long considered neo-liberalism as the cause of many of our problems, particularly the rise in mental health problems, alienation and loneliness.

As can be seen from many of the posts, neo-liberalism depends on, and fosters, ignorance, an inability to see things from historical and different perspectives and social and intellectual disciplines. On a sociological level how other societies are arranged throws up interesting comparisons. Scandanavian countries, which have mostly avoided neo-liberalism by and large, are happier, healthier places to live. America and eastern countries arranged around neo-liberal, market driven individualism, are unhappy places, riven with mental and physical health problems and many more social problems of violence, crime and suicide.

The worst thing is that the evidence shows it doesn't work. Not one of the privatisations in this country have worked. All have been worse than what they've replaced, all have cost more, depleted the treasury and led to massive homelessness, increased mental health problems with the inevitable financial and social costs, costs which are never acknowledged by its adherents.

Put crudely, the more " I'm alright, fuck you " attitude is fostered, the worse societies are. Empires have crashed and burned under similar attitudes.

MereMortal , 12 Oct 2016 04:37
A fantastic article as usual from Mr Monbiot.

The people who fosted this this system onto us, are now either very old or dead. We're living in the shadow of their revolutionary transformation of our more equitable post-war society. Hayek, Friedman, Keith Joseph, Thatcher, Greenspan and tangentially but very influentially Ayn Rand. Although a remainder (I love the wit of the term 'Remoaner') , Brexit can be better understood in the context of the death-knell of neoliberalism.

I never understood how the collapse of world finance, resulted in a right wing resurgence in the UK and the US. The Tea Party in the US made the absurd claim that the failure of global finance was not due to markets being fallible, but because free markets had not been enforced citing Fanny Mae and Freddie Mac as their evidence and of Bill Clinton insisting on more poor and black people being given mortgages.

I have a terrible sense that it will not go quietly, there will be massive global upheavals as governments struggle deal with its collapse.

flyboy101 , 12 Oct 2016 04:39
I have never really agreed with GM - but this article hits the nail on the head.

I think there are a number of aspects to this:

  1. The internet. The being in constant contact, our lives mapped and our thoughts analysed - we can comment on anything (whether informed or total drivel) and we've been fed the lie that our opinion is is right and that it matters) Ive removed fscebook and twitter from my phone, i have never been happier
  2. Rolling 24 hour news. That is obsessed with the now, and consistently squeezes very complex issues into bite sized simple dichotomies. Obsessed with results and critical in turn of everyone who fails to feed the machine
  3. The increasing slicing of work into tighter and slimmer specialisms, with no holistic view of the whole, this forces a box ticking culture. "Ive stamped my stamp, my work is done" this leads to a lack of ownership of the whole. PIP assessments are an almost perfect example of this - a box ticking exercise, designed by someone who'll never have to go through it, with no flexibility to put the answers into a holistic context.
  4. Our education system is designed to pass exams and not prepare for the future or the world of work - the only important aspect being the compilation of next years league tables and the schools standings. This culture is neither healthy no helpful, as students are schooled on exam technique in order to squeeze out the marks - without putting the knowledge into a meaningful and understandable narrative.

Apologies for the long post - I normally limit myself to a trite insulting comment :) but felt more was required in this instance.

Taxiarch -> flyboy101 , 12 Oct 2016 05:42
Overall, I agree with your points. Monbiot here adopts a blunderbuss approach (competitive self-interest and extreme individualism; "brutal" education, employment social security; consumerism, social media and vanity). Criticism of his hypotheses on this thread (where articualted at all) focus on the existence of solitude and loneliness prior to neo liberalism, which seems to me to be to deliberately miss his point: this was formerly a minor phenomenon, yet is now writ on an incredible scale - and it is a social phenomenon particular to those western economies whose elites have most enthusiastically embraced neo liberalism. So, when Monbiot's rhetoric rises:

"So why are we engaging in this world-eating, self-consuming frenzy of environmental destruction and social dislocation, if all it produces is unbearable pain?"

the answer is, of course, 'western capitalist elites'.

We stand together or we fall apart.

Hackneyed and unoriginal but still true for all that.

flyboy101 -> Taxiarch , 12 Oct 2016 06:19
I think the answer is only

the answer is, of course, 'western capitalist elites'.

because of the lies that are being sold. We all want is to: (and feel we have the right to) wear the best clothes, have the foreign holidays, own the latest tech and eat the finest foods. At the same time our rights have increased and awareness of our responsibilities have minimized. The execution of common sense and an awareness that everything that goes wrong will always be someone else fault.

We are not all special snowflakes, princesses or worthy of special treatment, but we act like self absorbed, entitled individuals. Whether that's entitled to benefits, the front of the queue or bumped into first because its our birthday!

I share Monbiots pain here. But rather than get a sense of perspective - the answer is often "More public money and counseling"

DGIxjhLBTdhTVh7T , 12 Oct 2016 04:42
George Monbiot has struck a nerve. They are there every day in my small town local park: people, young and old, gender and ethnically diverse, siting on benches for a couple of hours at a time.

Trite as it may seem, this temporary thread of canine affection breaks the taboo of strangers passing by on the other side. Conversations, sometimes stilted, sometimes deeper and more meaningful, ensue as dog walkers become a brief daily healing force in a fractured world of loneliness. It's not much credit in the bank of sociability. But it helps.

Trite as it may seem from the outside, their interaction with the myriad pooches regularly walk

wakeup99 -> DGIxjhLBTdhTVh7T , 12 Oct 2016 04:47
Do a parkrun and you get the same thing. Free and healthy.
ParisHiltonCommune -> SenseCir , 12 Oct 2016 08:47
Unhealthy social interaction, yes. You can never judge what is natural to humans based on contemporary Britain. Anthropologists repeatedly find that what we think natural is merely a social construct created by the system we are subject to.

If you don't work hard, you will be a loser, don't look out of the window day dreaming you lazy slacker. Get productive, Mr Burns millions need you to work like a machine or be replaced by one.

Sandra Hannen Gomez , 12 Oct 2016 04:46
Good article. You´re absoluately right. And the deeper casue is this: separation from God. If we don´t fight our way back to God, individually and collectively, things are going to get a lot worse. With God, loneliness doesn´t exist. I encourage anyone and everyone to start talking to Him today and invite Him into your heart and watch what starts to happen.
wakeup99 -> Sandra Hannen Gomez , 12 Oct 2016 04:52
Religion divides not brings people together. Only when you embrace all humanity and ignore all gods will you find true happiness. The world and the people in it are far more inspiring when you contemplate the lack of any gods. The fact people do amazing things without needing the promise of heaven or the threat of hell - that is truly moving.
TeaThoughts -> Sandra Hannen Gomez , 12 Oct 2016 05:23
I see what you're saying but I read 'love' instead of God. God is too religious which separates and divides ("I'm this religion and my god is better than yours" etc etc). I believe that George is right in many ways in that money is very powerful on it's impact on our behavior (stress, lack etc) and therefore our lives. We are becoming fearful of each other and I believe the insecurity we feel plays a part in this.

We have become so disconnected from ourselves and focused on battling to stay afloat. Having experienced periods of severe stress due to lack of money I couldn't even begin to think about how I felt, how happy I was, what I really wanted to do with my life. I just had to pay my landlord, pay the bills and try and put some food on my table so everything else was totally neglected.

When I moved house to move in with family and wasn't expected to pay rent, though I offered, all that dissatisfaction and undealt with stuff came spilling out and I realised I'd had no time for any real safe care above the very basics and that was not a good place to be. I put myself into therapy for a while and started to look after myself and things started to change. I hope to never go back to that kind of position but things are precarious financially and the field I work in isn't well paid but it makes me very happy which I realise now is more important.

geoffhoppy , 12 Oct 2016 04:47
Neo-liberalism has a lot to answer for in bringing misery to our lives and accelerating the demise of the planet but I find it not guilty on this one. The current trends as to how people perceive themselves (what you've got rather than who you are) and the increasing isolation in our cities started way before the neo-liberals. It is getting worse though and on balance social media is making us more connected but less social. Share
RandomName2016 , 12 Oct 2016 04:48
The way that the left keeps banging on about neoliberalism is half of what makes them such a tough sell electorally. Just about nobody knows what neoliberalism is, and literally nobody self identifies as a neoliberal. So all this moaning and wailing about neoliberalism comes across as a self absorbed, abstract and irrelevant. I expect there is the germ of an idea in there, but until the left can find away to present that idea without the baffling layer of jargon and over-analysis, they're going to remain at a disadvantage to the easy populism of the right.
Astrogenie , 12 Oct 2016 04:49
Interesting article. We have heard so much about the size of our economy but less about our quality of life. The UK quality of life is way below the size of our economy i.e. economy size 6th largest in the world but quality of life 15th. If we were the 10th largest economy but were 10th for quality of life we would be better off than we are now in real terms.

We need a radical change of political thinking to focus on quality of life rather than obsession with the size of our economy. High levels of immigration of people who don't really integrate into their local communities has fractured our country along with the widening gap between rich and poor. Governments only see people in terms of their "economic value" - hence mothers being driven out to work, children driven into daycare and the elderly driven into care homes. Britain is becoming a soulless place - even our great British comedy is on the decline.

wakeup99 -> Astrogenie , 12 Oct 2016 04:56
Quality of life is far more important than GDP I agree but it is also far more important than inequality.
MikkaWanders , 12 Oct 2016 04:49
Interesting. 'It is the isolated and marginalised animals that are most likely to be picked off by predators....' so perhaps the species is developing its own predators to fill a vacated niche.

(Not questioning the comparison to other mammals at all as I think it is valid but you would have to consider the whole rather than cherry pick bits)

johnny991965 , 12 Oct 2016 04:52
Generation snowflake. "I'll do myself in if you take away my tablet and mobile phone for half an hour".
They don't want to go out and meet people anymore. Nightclubs for instance, are closing because the younger generation 'don't see the point' of going out to meet people they would otherwise never meet, because they can meet people on the internet. Leave them to it and the repercussions of it.....
johnny991965 -> grizzly , 12 Oct 2016 05:07
Socialism is dying on its feet in the UK, hence the Tory's 17 point lead at the mo. The lefties are clinging to whatever influence they have to sway the masses instead of the ballot box. Good riddance to them.
David Ireland -> johnny991965 , 13 Oct 2016 12:45
17 point lead? Dying on it's feet? The neo-liberals are showing their disconnect from reality. If anything, neo-liberalism is driving a people to the left in search of a fairer and more equal society.
justask , 12 Oct 2016 04:57
George Moniot's articles are better thought out, researched and written than the vast majority of the usual clickbait opinion pieces found on the Guardian these days. One of the last journalists, rather than liberal arts blogger vying for attention.
Nada89 , 12 Oct 2016 04:57
Neoliberalism's rap sheet is long and dangerous but this toxic philosophy will continue unabated because most people can't join the dots and work out how detrimental it has proven to be for most of us.

It dangles a carrot in order to create certain economic illusions but the simple fact is neoliberal societies become more unequal the longer they persist.

wakeup99 -> Nada89 , 12 Oct 2016 05:05
Neoliberal economies allow people to build huge global businesses very quickly and will continue to give the winners more but they also can guve everyone else more too but just at a slower rate. Socialism on the other hand mires everyone in stagnant poverty. Question is do you want to be absolutely or relatively better off.
totaram -> wakeup99 , 12 Oct 2016 05:19
You have no idea. Do not confuse capitalism with neoliberalism. Neoliberalism is a political ideology based on a mythical version of capitalism that doesn't actually exist, but is a nice way to get the deluded to vote for something that doesn't work in their interest at all.
peterfieldman , 12 Oct 2016 04:57
And things will get worse as society falls apart due to globalisation, uberization, lack of respect for authority, lacks of a fair tax and justice system, crime, immorality, loss of trust of politicians and financial and corporate sectors, uncontrolled immigration bringing with it insecurity and the risk of terrorism and a dumbing down of society with increasing inequality. All this is in a new book " The World at a Crossroads" which deals with the major issues facing the planet.
Nada89 -> wakeup99 , 12 Oct 2016 05:07
What, like endless war, unaffordable property, monstrous university fees, zero hours contracts and a food bank on every corner, and that's before we even get to the explosion in mental distress.
monsieur_flaneur -> thedisclaimer , 12 Oct 2016 05:10
There's nothing spurious or obscure about Neoliberalism. It is simply the political ideology of the rich, which has been our uninterrupted governing ideology since Reagan and Thatcher: Privatisation, deregulation, 'liberalisation' of housing, labour, etc, trickledown / low-tax-on-the-rich economics, de-unionization. You only don't see it if you don't want to see it.
arkley , 12 Oct 2016 05:03
I'm just thinking what is wonderful about societies that are big of social unity. And conformity. Those societies for example where you "belong" to your family. Where teenage girls can be married off to elderly uncles to cement that belonging. Or those societies where the belonging comes through religious centres. Where the ostracism for "deviant" behaviour like being gay or for women not submitting to their husbands can be brutal. And I'm not just talking about muslims here.

Or those societies that are big on patriotism. Yep they are usually good for mental health as the young men are given lessons in how to kill as many other men as possible efficiently.

And then I have to think how our years of "neo-liberal" governments have taken ideas of social liberalisation and enshrined them in law. It may be coincidence but thirty years after Thatcher and Reagan we are far more tolerant of homosexuality and willing to give it space to live, conversely we are far less tolerant of racism and are willing to prosecute racist violence. Feminists may still moan about equality but the position of women in society has never been better, rape inside marriage has (finally) been outlawed, sexual violence generally is no longer condoned except by a few, work opportunities have been widened and the woman's role is no longer just home and family. At least that is the case in "neo-liberal" societies, it isn't necessarily the case in other societies.

So unless you think loneliness is some weird Stockholm Syndrome thing where your sense of belonging comes from your acceptance of a stifling role in a structured soiety, then I think blaming the heightened respect for the individual that liberal societies have for loneliness is way off the mark.

What strikes me about the cases you cite above, George, is not an over-respect for the individual but another example of individuals being shoe-horned into a structure. It strikes me it is not individualism but competition that is causing the unhappiness. Competition to achieve an impossible ideal.

I fear George, that you are not approaching this with a properly open mind dedicated to investigation. I think you have your conclusion and you are going to bend the evidence to fit. That is wrong and I for one will not support that. In recent weeks and months we have had the "woe, woe and thrice woe" writings. Now we need to take a hard look at our findings. We need to take out the biases resulting from greater awareness of mental health and better and fuller diagnosis of mental health issues. We need to balance the bias resulting from the fact we really only have hard data for modern Western societies. And above all we need to scotch any bias resulting from the political worldview of the researchers.

Then the results may have some value.

birney -> arkley , 12 Oct 2016 05:10
It sounded to me that he was telling us of farm labouring and factory fodder stock that if we'd 'known our place' and kept to it ,all would be well because in his ideal society there WILL be or end up having a hierarchy, its inevitable.
EndaFlannel , 12 Oct 2016 05:04
Wasn't all this started by someone who said, "There is no such thing as Society"? The ultimate irony is that the ideology that championed the individual and did so much to dismantle the industrial and social fabric of the Country has resulted in a system which is almost totalitarian in its disregard for its ideological consequences.
wakeup99 -> EndaFlannel , 12 Oct 2016 05:08
Thatcher said it in the sense that society is not abstract it is just other people so when you say society needs to change then people need to change as society is not some independent concept it is an aggregation of all us. The left mis quote this all the time and either they don't get it or they are doing on purpose.
HorseCart -> EndaFlannel , 12 Oct 2016 05:09
No, Neoliberalism has been around since 1938.... Thatcher was only responsible for "letting it go" in Britain in 1980, but actually it was already racing ahead around the world.

Furthermore, it could easily be argued that the Beatles helped create loneliness - what do you think all those girls were screaming for? And also it could be argued that the Beatles were bringing in neoliberalism in the 1960s, via America thanks to Elvis Presley and Jerry Lee Lewis etc.. Share

billybagel -> wakeup99 , 12 Oct 2016 05:26
They're doing it on purpose. ""If you tell a lie big enough and keep repeating it, people will eventually come to believe it." -- Joseph Boebbels
Luke O'Brien , 12 Oct 2016 05:08
Great article, although surely you could've extended the blame to capitalism has a whole?

In what, then, consists the alienation of labor? First, in the fact that labor is external to the worker, i.e., that it does not belong to his nature, that therefore he does not realize himself in his work, that he denies himself in it, that he does not feel at ease in it, but rather unhappy, that he does not develop any free physical or mental energy, but rather mortifies his flesh and ruins his spirit. The worker, therefore, is only himself when he does not work, and in his work he feels outside himself. He feels at home when he is not working, and when he is working he does not feel at home. His labor, therefore, is not voluntary, but forced--forced labor. It is not the gratification of a need, but only a means to gratify needs outside itself. Its alien nature shows itself clearly by the fact that work is shunned like the plague as soon as no physical or other kind of coercion exists.

Marx, Economic and Philosophical Manuscripts of 1844

JulesBywaterLees , 12 Oct 2016 05:08
We have created a society with both flaws and highlights- and we have unwittingly allowed the economic system to extend into our lives in negative ways.

On of the things being modern brings is movement- we move away from communities, breaking friendships and losing support networks, and the support networks are the ones that allow us to cope with issues, problems and anxiety.

Isolation among the youth is disturbing, it is also un natural, perhaps it is social media, or fear of parents, or the fall in extra school activities or parents simply not having a network of friends because they have had to move for work or housing.

There is some upsides, I talk and get support from different international communities through the social media that can also be so harmful- I chat on xbox games, exchange information on green building forums, arts forums, share on youtube as well as be part of online communities that hold events in the real world.

LordMorganofGlossop , 12 Oct 2016 05:11
Increasingly we seem to need to document our lives on social media to somehow prove we 'exist'. We seem far more narcissistic these days, which tends to create a particular type of unhappiness, or at least desire that can never be fulfilled. Maybe that's the secret of modern consumer-based capitalism. To be happy today, it probably helps to be shallow, or avoid things like Twitter and Facebook!

Eric Fromm made similar arguments to Monbiot about the psychological impact of modern capitalism (Fear of Freedom and The Sane Society) - although the Freudian element is a tad outdated. However, for all the faults of modern society, I'd rather be unhappy now than in say, Victorian England. Similarly, life in the West is preferable to the obvious alternatives.

Interestingly, the ultra conservative Adam Smith Institute yesterday decided to declare themselves 'neoliberal' as some sort of badge of honour:
http://www.adamsmith.org/blog/coming-out-as-neoliberals

eamonmcc , 12 Oct 2016 05:15
Thanks George for commenting in such a public way on the unsayable: consume, consume, consume seems to be the order of the day in our modern world and the points you have highlighted should be part of public policy everywhere.

I'm old enough to remember when we had more time for each other; when mothers could be full-time housewives; when evenings existed (evenings now seem to be spent working or getting home from work). We are undoubtedly more materialistic, which leads to more time spent working, although our modern problems are probably not due to increasing materialism alone.

Regarding divorce and separation, I notice people in my wider circle who are very open to affairs. They seem to lack the self-discipline to concentrate on problems in their marriage and to give their full-time partner a high level of devotion. Terrible problems come up in marriages but if you are completely and unconditionally committed to your partner and your marriage then you can get through the majority of them.

CEMKM , 12 Oct 2016 05:47
Aggressive self interest is turning in on itself. Unfortunately the powerful who have realised their 'Will to Power' are corrupted by their own inflated sense of self and thus blinded. Does this all predict a global violent revolution?
SteB1 -> NeverMindTheBollocks , 12 Oct 2016 06:32

A diatribe against a vague boogieman that is at best an ill-defined catch-all of things this CIFer does not like.

An expected response from someone who persistently justifies neoliberalism through opaque and baseless attacks on those who reveal how it works. Neoliberalism is most definitely real and it has a very definite history.
https://en.wikipedia.org/wiki/Neoliberalism
http://www.corpwatch.org/article.php?id=376

However, what is most interesting is how nearly all modern politicians who peddle neoliberal doctrine or policy, refuse to use the name, or even to openly state what ideology they are in fact following.

I suppose it is just a complete coincidence that the policy so many governments are now following so closely follow known neoliberal doctrine. But of course the clever and unpleasant strategy of those like yourself is to cry conspiracy theory if this ideology, which dare not speak its name is mentioned.

Your style is tiresome. You make no specific supported criticisms again, and again. You just make false assertions and engage in unpleasant ad homs and attempted character assassination. You do not address the evidence for what George Monbiot states at all.

heian555 , 12 Oct 2016 05:56
An excellent article. One wonders exactly what one needs to say in order to penetrate the reptilian skulls of those who run the system.

As an addition to Mr Monbiot's points, I would like to point out that it is not only competitive self-interest and extreme individualism that drives loneliness. Any system that has strict hierarchies and mechanisms of social inclusion also drives it, because such systems inhibit strongly spontaneous social interaction, in which people simply strike up conversation. Thailand has such a system. Despite her promoting herself as the land of smiles, I have found the people here to be deeply segregated and unfriendly. I have lived here for 17 years. The last time I had a satisfactory face-to-face conversation, one that went beyond saying hello to cashiers at checkout counters or conducting official business, was in 1999. I have survived by convincing myself that I have dialogues with my books; as I delve more deeply into the texts, the authors say something different to me, to which I can then respond in my mind.

SteB1 , 12 Oct 2016 05:56

Epidemics of mental illness are crushing the minds and bodies of millions. It's time to ask where we are heading and why

I want to quote the sub headline, because "It's time to ask where we are heading and why", is the important bit. George's excellent and scathing evidence based criticism of the consequences of neoliberalism is on the nail. However, we need to ask how we got to this stage. Despite it's name neoliberalism doesn't really seem to contain any new ideas, and in some way it's more about Thatcher's beloved return to Victorian values. Most of what George Monbiot highlights encapsulatec Victorian thinking, the sort of workhouse mentality.

Whilst it's very important to understand how neoliberalism, the ideology that dare not speak it's name, derailed the general progress in the developed world. It's also necessary to understand that the roots this problem go much further back. Not merely to the start of the industrial revolution, but way beyond that. It actually began with the first civilizations when our societies were taken over by powerful rulers, and they essentially started to farm the people they ruled like cattle. On the one hand they declared themselves protector of their people, whilst ruthlessly exploiting them for their own political gain. I use the livestock farming analogy, because that explains what is going on.

To domesticate livestock, and to make them pliable and easy to work with the farmer must make himself appear to these herd animals as if they are their protector, the person who cares for them, nourishes and feeds them. They become reliant on their apparent benefactor. Except of course this is a deceitful relationship, because the farmer is just fattening them up to be eaten.

For the powerful to exploit the rest of people in society for their own benefit they had to learn how to conceal what they were really doing, and to wrap it in justifications to bamboozle the people they were exploiting for their own benefit. They did this by altering our language and inserting ideas in our culture which justified their rule, and the positions of the rest of us.

Before state religions, generally what was revered was the Earth, the natural world. It was on a personal level, and not controlled by the powerful. So the powerful needed to remove that personal meaningfulness from people's lives, and said the only thing which was really meaningful, was the religion, which of course they controlled and were usually the head of. Over generations people were indoctrinated in a completely new way of thinking, and a language manipulated so all people could see was the supposed divine right of kings to rule. Through this language people were detached from what was personally meaningful to them, and could only find meaningfulness by pleasing their rulers, and being indoctrinated in their religion.

If you control the language people use, you can control how perceive the world, and can express themselves.

By stripping language of meaningful terms which people can express themselves, and filling it full of dubious concepts such as god, the right of kings completely altered how people saw the world, how they thought. This is why over the ages, and in different forms the powerful have always attempted to have full control of our language through at first religion and their proclamations, and then eventually by them controlling our education system and the media.

The idea of language being used to control how people see the world, and how they think is of course not my idea. George Orwell's Newspeak idea explored in "1984" is very much about this.
https://en.wikipedia.org/wiki/Newspeak

This control of language is well known throughout history. Often conquerors would abolish languages of those they conquered. In the so called New World the colonists eventually tried to control how indigenous people thought by forcibly sending their children to boarding school, to be stripped of their culture, their native language, and to be inculcated in the language and ideas of their colonists. In Britain various attempts were made to banish the Welsh language, the native language of the Britons, before the Anglo-Saxons and the Normans took over.

However, what Orwell did not deal with properly is the origin of language style. To Orwell, and to critics of neoliberalism, the problems can be traced back to the rise of what they criticised. To a sort of mythical golden age. Except all the roots of what is being criticised can be found in the period before the invention of these doctrines. So you have to go right back to the beginning, to understand how it all began.

Neoliberalism would never have been possible without this long control of our language and ideas by the powerful. It prevents us thinking outside the box, about what the problem really is, and how it all began.

clarissa3 -> SteB1 , 12 Oct 2016 06:48
All very well but you are talking about ruthlessness of western elites, mostly British, not all.

It was not like that everywhere. Take Poland for example, and around there..

New research is emerging - and I'd recommend reading of prof Frost from St Andrew's Uni - that lower classes were actually treated with respect by elites there, mainly land owners and aristocracy who more looked after them and employed and cases of such ruthlessness as you describe were unknown of.

So that 'truth' about attitudes to lower classes is not universal!

SteB1 -> Borisundercoat , 12 Oct 2016 06:20

What is "neoliberalism" exactly?

It's spouted by many on here as the root of all evil.

I'd be interested to see how many different definitions I get in response...


The reason I call neoliberalism the ideology which dare not speak it's name is that in public you will rarely hear it mentioned by it's proponents. However, it was a very important part of Thatcherism, Blairism, and so on. What is most definite is that these politicians and others are most definitely following some doctrine. Their ideas about what we must do and how we must do it are arbitrary, but they make it sound as if it's the only way to do things.

If you want to learn more about neoliberalism, read a summary such as the Wikipedia page on it.
https://en.wikipedia.org/wiki/Neoliberalism
http://www.corpwatch.org/article.php?id=376

However, as I hint, the main problem in dealing with neoliberalism is that none of the proponents of this doctrine admit to what ideology they are actually following. Yet very clearly around the world leaders in many countries are clearly singing from the same hymn sheet because the policy they implement is so similar. Something has definitely changed. All the attempts to roll back welfare, benefits, and public services is most definitely new, or they wouldn't be having to reverse policy of the past if nothing had change. But as all these politicians implementing this policy all seem to refuse to explain what doctrine they are following, it makes it difficult to pin down what is happening. Yet we can most definitely say that there is a clear doctrine at work, because why else would so many political leaders around the world be trying to implement such similar policy.

Winstons1 -> TerryMcBurney , 12 Oct 2016 06:24

Neo-liberalism doesn't really exist except in the minds of the far left and perhaps a few academics.

Neoliberalism is a policy model of social studies and economics that transfers control of economic factors to the private sector from the public sector. ... Neoliberal policies aim for a laissez-faire approach to economic development.

I believe the term 'Neo liberalism' was coined by those well known 'Lefties'The Chicago School .
If you don't believe that any of the above has been happening ,it does beg the question as to where you have been for the past decade.

UnderSurveillance , 12 Oct 2016 06:12
The ironies of modern civilization - we have never been more 'connected' to other people on global level and less 'connected' on personal level.

We have never had access to such a wide range of information and opinions, but also for a long time been so divided into conflicting groups, reading and accessing in fact only that which reinforces what we already think.

John Pelan , 12 Oct 2016 06:18
Sir Harry Burns, ex-Chief Medical Officer in Scotland talks very powerfully about the impact of loneliness and isolation on physical and mental health - here is a video of a recent talk by him - http://www.befs.org.uk/calendar/48/164-BEFS-Annual-Lecture
MightyDrunken , 12 Oct 2016 06:22
These issues have been a long time coming, just think of the appeals of the 60's to chill out and love everyone. Globalisation and neo-liberalism has simply made society even more broken.
The way these problems have been ignored and made worse over the last few decades make me think that the solution will only happen after a massive catastrophe and society has to be rebuilt. Unless we make the same mistakes again.
A shame really, you would think intelligence would be useful but it seems not.
ParisHiltonCommune -> MightyDrunken , 12 Oct 2016 07:19
Contemporary Neo-liberalism is a reaction against that ideal of the 60s
DevilMayCareIDont , 12 Oct 2016 06:25
I would argue that it creates a bubble of existence for those who pursue a path of "success" that instead turns to isolation . The amount of people that I have met who have moved to London because to them it represents the main location for everything . I get to see so many walking cliches of people trying to fit in or stand out but also fitting in just the same .

The real disconnect that software is providing us with is truly staggering . I have spoken to people from all over the World who seem to feel more at home being alone and playing a game with strangers . The ones who are most happy are those who seem to be living all aloe and the ones who try and play while a girlfriend or family are present always seemed to be the ones most agitated by them .

We are humans relying on simplistic algorithms that reduce us ,apps like Tinder which turns us into a misogynist at the click of a button .

Facebook which highlights our connections with the other people and assumes that everyone you know or have met is of the same relevance .

We also have Twitter which is the equivalent of screaming at a television when you are drunk or angry .

We have Instagram where people revel in their own isolation and send updates of it . All those products that are instantly updated and yet we are ageing and always feeling like we are grouped together by simple algorithms .

JimGoddard , 12 Oct 2016 06:28
Television has been the main destroyer of social bonds since the 1950s and yet it is only mentioned once and in relation to the number of competitions on it, which completely misses the point. That's when I stopped taking this article seriously.
GeoffP , 12 Oct 2016 06:29
Another shining example of the slow poison of capitalism. Maybe it's time at last to turn off the tap?
jwestoby , 12 Oct 2016 06:30
I actually blame Marx for neoliberalism. He framed society purely in terms economic, and persuaded that ideology is valuable in as much as it is actionable.

For a dialectician he was incredibly short sighted and superficial, not realising he was creating a narrative inimical to personal expression and simple thoughtfulness (although he was warned). To be fair, he can't have appreciated how profoundly he would change the way we concieve societies.

Neoliberalism is simply the dark side of Marxism and subsumes the personal just as comprehensively as communism.

We're picked apart by quantification and live as particulars, suffering the ubiquitous consequences of connectivity alone . . .

Unless, of course, you get out there and meet great people!

ParisHiltonCommune -> jwestoby , 12 Oct 2016 07:16
Marxism arose as a reaction against the harsh capitalism of its day. Of course it is connected. It is ironic how Soviet our lives have become.
zeeeel , 12 Oct 2016 06:30
Neo-liberalism allows psychopaths to flourish, and it has been argued by Robert Hare that they are disproportionately represented in the highest echelons of society. So people who lack empathy and emotional attachment are probably weilding a significant amount of influence over the way our economy and society is organised. Is it any wonder that they advocate an economic model which is most conducive to their success? Things like job security, rigged markets, unions, and higher taxes on the rich simply get in their way.
Drewv , 12 Oct 2016 06:30
That fine illustration by Andrzej Krauze up there is exactly what I see whenever I walk into an upscale mall or any Temple of Consumerism.

You can hear the Temple calling out: "Feel bad, atomized individuals? Have a hole inside? Feel lonely? That's all right: buy some shit you don't need and I guarantee you'll feel better."

And then it says: "So you bought it and you felt better for five minutes, and now you feel bad again? Well, that's not rocket science...you should buy MORE shit you don't need! I mean, it's not rocket science, you should have figured this out on your own."

And then it says: "Still feel bad and you have run out of money? Well, that's okay, just get it on credit, or take out a loan, or mortgage your house. I mean, it's not rocket science. Really, you should have figured this out on your own already...I thought you were a modern, go-get-'em, independent, initiative-seizing citizen of the world?"

And then it says: "Took out too many loans, can't pay the bills and the repossession has begun? Honestly, that's not my problem. You're just a bad little consumer, and a bad little liberal, and everything is your own fault. You go sit in a dark corner now where you don't bother the other shoppers. Honestly, you're just being a burden on other consumers now. I'm not saying you should kill yourself, but I can't say that we would mind either."

And that's how the worms turn at the Temples of Consumerism and Neoliberalism.

havetheyhearts , 12 Oct 2016 06:31
I kept my sanity by not becoming a spineless obedient middle class pleaser of a sociopathic greedy tribe pretending neoliberalism is the future.

The result is a great clarity about the game, and an intact empathy for all beings.

The middle class treated each conscious "outsider" like a lowlife, and now they play the helpless victims of circumstances.

I know why I renounced to my privileges. They sleepwalk into their self created disorder. And yes, I am very angry at those who wasted decades with their social stupidity, those who crawled back after a start of change into their petit bourgeois niche.

I knew that each therapist has to take a stand and that the most choose petty careers. Do not expect much sanity from them for your disorientated kids.
Get insightful yourself and share your leftover love to them. Try honesty and having guts...that might help both of you.

Likewhatever , 12 Oct 2016 06:32
Alternatively, neo-liberalism has enabled us to afford to live alone (entire families were forced to live together for economic reasons), and technology enables us to work remotely, with no need for interaction with other people.

This may make some people feel lonely, but for many others its utopia.

Peter1Barnet , 12 Oct 2016 06:32
Some of the things that characterise Globalisation and Neoliberalism are open borders and free movement. How can that contribute to isolation? That is more likely to be fostered by Protectionism. And there aren't fewer jobs. Employment is at record highs here and in many other countries. There are different jobs, not fewer, and to be sure there are some demographics that have lost out. But overall there are not fewer jobs. That falls for the old "lump of labour" fallacy.
WhigInterpretation , 12 Oct 2016 06:43
The corrosive state of mass television indoctrination sums it up: Apprentice, Big Brother, Dragon's Den. By degrees, the standard keeps lowering. It is no longer unusual for a licence funded TV programme to consist of a group of the mentally deranged competing to be the biggest asshole in the room.

Anomie is a by-product of cultural decline as much as economics.

Pinkie123 -> Stephen Bell , 12 Oct 2016 07:18

What is certain, is that is most ways, life is far better now in the UK than 20, 30 or 40 years ago, by a long way!

That's debatable. Data suggests that inequality has widened massively over the last 30 years ( https://www.equalitytrust.org.uk/infographic-income-inequality-uk ) - as has social mobility ( https://www.theguardian.com/news/datablog/2012/may/22/social-mobility-data-charts ). Homelessness has risen substantially since 1979.

Our whole culture is more stressful. Jobs are more precarious; employment rights more stacked in favor of the employer; workforces are deunionised; leisure time is on the decrease; rents are unaffordable; a house is no longer a realistic expectation for millions of young people. Overall, citizens are more socially immobile and working harder for poorer real wages than they were in the late 70's.

As for mental health, evidence suggest that mental health problems have been on the increase over recent decades, especially among young people. The proportion of 15/16 year olds reporting that they frequently feel anxious or depressed has doubled in the last 30 years, from 1 in 30 to 2 in 30 for boys and 1 in 10 to 2 in ten for girls ( http://www.nuffieldfoundation.org/news/increased-levels-anxiety-and-depression-teenage-experience-changes-over-time

Unfortunately, sexual abuse has always been a feature of human societies. However there is no evidence to suggest it was any worse in the past. Then sexual abuse largely took place in institutional settings were at least it could be potentially addressed. Now much of it has migrated to the great neoliberal experiment of the internet, where child exploitation is at endemic levels and completely beyond the control of law enforcement agencies. There are now more women and children being sexually trafficked than there were slaves at the height of the slave trade. Moreover, we should not forget that Jimmy Saville was abusing prolifically right into the noughties.

My parents were both born in 1948. They say it was great. They bought a South London house for next to nothing and never had to worry about getting a job. When they did get a job it was one with rights, a promise of a generous pension, a humane workplace environment, lunch breaks and an ethos of public service. My mum says that the way women are talked about now is worse.

Sounds fine to me. That's not to say everything was great: racism was acceptable (though surely the vile views pumped out onto social media are as bad or worse than anything that existed then), homosexuality was illegal and capital punishment enforced until the 1960's. However, the fact that these things were reformed showed society was moving in the right direction. Now we are going backwards, back to 1930's levels or inequality and a reactionary, small-minded political culture fueled by loneliness, rage and misery.

Pinkie123 -> Stephen Bell , 12 Oct 2016 07:28
And there is little evidence to suggest that anyone has expanded their mind with the internet. A lot of people use it to look at porn, post racist tirades on Facebook, send rape threats, distributes sexual images of partners with their permission, take endless photographs of themselves and whip up support for demagogues. In my view it would much better if people went to a library than lurked in corporate echo chambers pumping out the like of 'why dont theese imagrantz go back home and all those lezbo fems can fuckk off too ha ha megalolz ;). Seriously mind expanding stuff. Share
Pinkie123 -> Pinkie123 , 12 Oct 2016 07:38
Oops ' without their permission...
maldonglass , 12 Oct 2016 06:49
As a director and CEO of an organisation employing several hundred people I became aware that 40% of the staff lived alone and that the workplace was important to them not only for work but also for interacting with their colleagues socially . This was encouraged and the organisation achieved an excellent record in retaining staff at a time when recruitment was difficult. Performance levels were also extremely high . I particulalry remember with gratitude the solidarity of staff when one of our colleagues - a haemophiliac - contracted aids through an infected blood transfusion and died bravely but painfully - the staff all supported him in every way possible through his ordeal and it was a privilege for me to work with such kind and caring people .
oommph -> maldonglass , 12 Oct 2016 07:00
Indeed. Those communities are often undervalued. However, the problem is, as George says, lots of people are excluded from them.

They are also highly self-selecting (e.g. you need certain trains of inclusivity, social adeptness, empathy, communication, education etc to get the job that allows you to join that community).

Certainly I make it a priority in my life. I do create communities. I do make an effort to stand by people who live like me. I can be a leader there.

Sometimes I wish more people would be. It is a sustained, long-term effort. Share

forkintheroad , 12 Oct 2016 06:50
'a war of everyone against themselves' - post-Hobbesian. Genius, George.
sparclear , 12 Oct 2016 06:51
Using a word like 'loneliness' is risky insofar as nuances get lost. It can have thousand meanings, as there are of a word like 'love'.

isolation
grief
loneliness
feeling abandoned
solitude
purposelessness
neglect
depression
&c.

To add to this discussion, we might consider the strongest need and conflict each of us experiences as a teenager, the need to be part of a tribe vs the the conflict inherent in recognising one's uniqueness. In a child's life from about 7 or 8 until adolescence, friends matter the most. Then the young person realises his or her difference from everyone else and has to grasp what this means.

Those of us who enjoyed a reasonably healthy upbringing will get through the peer group / individuation stage with happiness possible either way - alone or in friendship. Our parents and teachers will have fostered a pride in our own talents and our choice of where to socialise will be flexible and non-destructive.

Those of us who at some stage missed that kind of warmth and acceptance in childhood can easily stagnate. Possibly this is the most awkward of personal developmental leaps. The person neither knows nor feels comfortable with themselves, all that faces them is an abyss.
Where creative purpose and strength of spirit are lacking, other humans can instinctively sense it and some recoil from it, hardly knowing what it's about. Vulnerabilities attendant on this state include relationships holding out some kind of ersatz rescue, including those offered by superficial therapists, religions, and drugs, legal and illegal.

Experience taught that apart from the work we might do with someone deeply compassionate helping us where our parents failed, the natural world is a reliable healer. A kind of self-acceptance and individuation is possible away from human bustle. One effect of the seasons and of being outdoors amongst other life forms is to challenge us physically, into present time, where our senses start to work acutely and our observational skills get honed, becoming more vibrant than they could at any educational establishment.

This is one reason we have to look after the Earth, whether it's in a city context or a rural one. Our mental, emotional and physical health is known to be directly affected by it.

Buster123 , 12 Oct 2016 06:55
A thoughtful article. But the rich and powerful will ignore it; their doing very well out of neo liberalism thank you. Meanwhile many of those whose lives are affected by it don't want to know - they're happy with their bigger TV screen. Which of course is what the neoliberals want, 'keep the people happy and in the dark'. An old Roman tactic - when things weren't going too well for citizens and they were grumbling the leaders just extended the 'games'. Evidently it did the trick
worried -> Buster123 , 12 Oct 2016 07:32
The rich and powerful can be just as lonely as you and me. However, some of them will be lonely after having royally forked the rest of us over...and that is another thing
Hallucinogen , 12 Oct 2016 06:59

We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war. Our Great Depression is our lives.

- Fight Club
People need a tribe to feel purpose. We need conflict, it's essential for our species... psychological health improved in New York after 9/11.
ParisHiltonCommune , 12 Oct 2016 07:01
Totally agree with the last sentences. Human civilisation is a team effort. Individual humans cant survive, our language evolved to aid cooperation.

Neo-liberalism is really only an Anglo-American project. Yet we are so indoctrinated in it, It seems natural to us, but not to hardly any other cultures.

As for those "secondary factors. Look to advertising and the loss of real jobs forcing more of us to sell services dependent on fake needs. Share

deirdremcardle , 12 Oct 2016 07:01
Help save the Notting Hill Carnival
http://www.getwestlondon.co.uk/news/west-london-news/teen-disembowelled-years-notting-hill-11982129

It's importance for social cohesion -- yes inspite of the problems , can not be overestimated .Don't let the rich drive it out , people who don't understand ,or care what it's for .The poorer boroughs cannot afford it .K&C have easily 1/2billion in Capital Reserves ,so yes they must continue . Here I can assure you ,one often sees the old and lonely get a hug .If drug gangs are hitting each other or their rich boy customers with violence - that is a different matter . And yes of course if we don't do something to help boys from ethnic minorities ,with education and housing -of course it only becomes more expensive in the long run.

Boris Johnson has idiotically mouthed off about trying to mobilise people to stand outside the Russian Embassy , as if one can mobilise youth by telling them to tidy their bedroom .Because that's all it amounts to - because you have to FEEL protest and dissent . Well here at Carnival - there it is ,protest and dissent . Now listen to it . And of course it will be far easier than getting any response from sticking your tongue out at the Putin monster --
He has his bombs , just as Kensington and Chelsea have their money. (and anyway it's only another Boris diversion ,like building some fucking stupid bridge ,instead of doing anything useful)

Lafcadio1944 , 12 Oct 2016 07:03
"Society" or at least organized society is the enemy of corporate power. The idea of Neoliberal capitalism is to replace civil society with corporate law and rule. The same was true of the less extreme forms of capitalism. Society is the enemy of capital because it put restrictions on it and threatens its power.

When society organizes itself and makes laws to protect society from the harmful effects of capitalism, for example demands on testing drugs to be sure they are safe, this is a big expense to Pfizer, there are many examples - just now in the news banning sugary drinks. If so much as a small group of parents forming a day care co-op decide to ban coca cola from their group that is a loss of profit.

That is really what is going on, loneliness is a big part of human life, everyone feels it sometimes, under Neoliberal capitalism it is simply more exaggerated due to the out and out assault on society itself.

Joan Cant , 12 Oct 2016 07:10
Well the prevailing Global Capitalist world view is still a combination 1. homocentric Cartesian Dualism i.e. seeing humans as most important and sod all other living beings, and seeing humans as separate from all other living beings and other humans and 2. Darwinian "survival of the fittest" seeing everything as a competition and people as "winners and losers, weak or strong with winners and the strong being most important". From these 2 combined views all kinds of "games" arise. The main one being the game of "victim, rescuer, persecutor" (Transactional Analysis). The Guardian engages in this most of the time and although I welcome the truth in this article to some degree, surprisingly, as George is environmentally friendly, it kinda still is talking as if humans are most important and as if those in control (the winners) need to change their world view to save the victims. I think the world view needs to zoom out to a perspective that recognises that everything is interdependent and that the apparent winners and the strong are as much victims of their limited world view as those who are manifesting the effects of it more obviously.
Zombiesfan , 12 Oct 2016 07:14
Here in America, we have reached the point at which police routinely dispatch the mentally ill, while complaining that "we don't have the time for this" (N. Carolina). When a policeman refuses to kill a troubled citizen, he or she can and will be fired from his job (West Virginia). This has become not merely commonplace, but actually a part of the social function of the work of the police -- to remove from society the burden of caring for the mentally ill by killing them. In the state where I live, a state trooper shot dead a mentally ill man who was not only unarmed, but sitting on the toilet in his own home. The resulting "investigation" exculpated the trooper, of course; in fact, young people are constantly told to look up to the police.
ianita1978 -> Zombiesfan , 12 Oct 2016 08:25
Sounds like the inevitable logical outcome of a society where the predator sociopathic and their scared prey are all that is allowed. This dynamic dualistic tautology, the slavish terrorised to sleep and bullying narcissistic individual, will always join together to protect their sick worldview by pathologising anything that will threaten their hegemony of power abuse: compassion, sensitivity, moral conscience, altruism and the immediate effects of the ruthless social effacement or punishment of the same ie human suffering.
Ruby4 , 12 Oct 2016 07:14
The impact of increasing alienation on individual mental health has been known about and discussed for a long time.

When looking at a way forward, the following article is interesting:

"Alienation, in all areas, has reached unprecedented heights; the social machinery for deluding consciousnesses in the interest of the ruling class has been perfected as never before. The media are loaded with upscale advertising identifying sophistication with speciousness. Television, in constant use, obliterates the concept under the image and permanently feeds a baseless credulity for events and history. Against the will of many students, school doesn't develop the highly cultivated critical capacities that a real sovereignty of the people would require. And so on.

The ordinary citizen thus lives in an incredibly deceiving reality. Perhaps this explains the tremendous and persistent gap between the burgeoning of motives to struggle, and the paucity of actual combatants. The contrary would be a miracle. Thus the considerable importance of what I call the struggle for representation: at every moment, in every area, to expose the deception and bring to light, in the simplicity of form which only real theoretical penetration makes possible, the processes in which the false-appearances, real and imagined, originate, and this way, to form the vigilant consciousness, placing our image of reality back on its feet and reopening paths to action."

https://www.marxists.org/archive/seve/lucien_seve.htm

ianita1978 -> Ruby4 , 12 Oct 2016 08:18
For the global epidemic of abusive, effacing homogenisation of human intellectual exchange and violent hyper-sexualisation of all culture, I blame the US Freudian PR guru Edward Bernays and his puritan forebears - alot.
bonhee -> Ruby4 , 12 Oct 2016 09:03
Thanks for proving that Anomie is a far more sensible theory than Dialectical Materialistic claptrap that was used back in the 80s to terrorize the millions of serfs living under the Jack boot of Leninist Iron curtain.
RossJames , 12 Oct 2016 07:15
There's no question - neoliberalism has been wrenching society apart. It's not as if the prime movers of this ideology were unaware of the likely outcome viz. "there is no such thing as society" (Thatcher). Actually in retrospect the whole zeitgeist from the late 70s emphasised the atomised individual separated from the whole. Dawkins' "The Selfish Gene" (1976) may have been influential in creating that climate.

Anyway, the wheel has turned thank goodness. We are becoming wiser and understanding that "ecology" doesn't just refer to our relationship with the natural world but also, closer to home, our relationship with each other.

Jayarava Attwood -> RossJames , 12 Oct 2016 07:37
The Communist manifesto makes the same complaint in 1848. The wheel has not turned, it is still grinding down workers after 150 years. We are none the wiser.
Ben Wood -> RossJames , 12 Oct 2016 07:49
"The wheel is turning and you can't slow down,
You can't let go and you can't hold on,
You can't go back and you can't stand still,
If the thunder don't get you then the lightning will."
R Hunter
ianita1978 -> Ben Wood , 12 Oct 2016 08:13
Yep. And far too many good people have chosen to be the grateful dead in order to escape the brutal torture of bullying Predators.
magicspoon3 , 12 Oct 2016 07:30
What is loneliness? I love my own company and I love walking in nature and listening to relaxation music off you tube and reading books from the library. That is all free. When I fancied a change of scene, I volunteered at my local art gallery.

Mental health issues are not all down to loneliness. Indeed, other people can be a massive stress factor, whether it is a narcissistic parent, a bullying spouse or sibling, or an unreasonable boss at work.

I'm on the internet far too much and often feel the need to detox from it and get back to a more natural life, away from technology. The 24/7 news culture and selfie obsessed society is a lot to blame for social disconnect.

The current economic climate is also to blame, if housing and job security are a problem for individuals as money worries are a huge factor of stress. The idea of not having any goal for the future can trigger depressive thoughts.

I have to say, I've been happier since I don't have such unrealistic expectations of what 'success is'. I rarely get that foreign holiday or new wardrobe of clothes and my mobile phone is archaic. The pressure that society puts on us to have all these things- and get in debt for them is not good. The obsession with economic growth at all costs is also stupid, as the numbers don't necessarily mean better wealth, health or happiness.

dr8765 , 12 Oct 2016 07:34
Very fine article, as usual from George, until right at the end he says:

This does not require a policy response.

But it does. It requires abandonment of neoliberalism as the means used to run the world. People talk about the dangers of man made computers usurping their makers but mankind has, it seems, already allowed itself to become enslaved. This has not been achieved by physical dependence upon machines but by intellectual enslavement to an ideology.

John Smythe , 12 Oct 2016 07:35
A very good "Opinion" by George Monbiot one of the best I have seen on this Guardian blog page.

I would add that the basic concepts of the Neoliberal New world order are fundamentally Evil, from the control of world population through supporting of strife starvation and war to financial inducements of persons in positions of power. Let us not forget the training of our younger members of our society who have been induced to a slavish love of technology. Many other areas of human life are also under attack from the Neoliberal, even the very air we breathe, and the earth we stand upon.

Jayarava Attwood , 12 Oct 2016 07:36
The Amish have understood for 300 years that technology could have a negative effect on society and decided to limit its effects. I greatly admire their approach. Neal Stephenson's recent novel Seveneves coined the term Amistics for the practice of assessing and limiting the impact of tech. We need a Minister for Amistics in the government. Wired magazine did two features on the Amish use of telephones which are quite insightful.

The Amish Get Wired. The Amish ? 6.1.1993
look Who's talking . 1.1.1999

If we go back to 1848, we also find Marx and Engels, in the Communist Manifesto, complaining about the way that the first free-market capitalism (the original liberalism) was destroying communities and families by forcing workers to move to where the factories were being built, and by forcing women and children into (very) low paid work. 150 years later, after many generations of this, combined with the destruction of work in the North, the result is widespread mental illness. But a few people are really rich now, so that's all right, eh?

Social media is ersatz community. It's like eating grass: filling, but not nourishing.

ICYMI I had some thoughts a couple of days ago on how to deal with the mental health epidemic .

maplegirl , 12 Oct 2016 07:38
Young people are greatly harmed by not being able to see a clear path forward in the world. For most people, our basic needs are a secure job, somewhere secure and affordable to live, and a decent social environment in terms of public services and facilities. Unfortunately, all these things are sliding further out of reach for young people in the UK, and they know this. Many already live with insecure housing where their family could have to move at a month or two's notice.

Our whole economic system needs to be built around providing these basic securities for people. Neoliberalism = insecure jobs, insecure housing and poor public services, because these are the end result of its extreme free market ideology.

dynamicfrog , 12 Oct 2016 07:44
I agree with this 100%. Social isolation makes us unhappy. We have a false sense of what makes us unhappy - that success or wealth will enlighten or liberate us. What makes us happy is social connection. Good friendships, good relationships, being part of community that you contribute to. Go to some of the poorest countries in the world and you may meet happy people there, tell them about life in rich countries, and say that some people there are unhappy. They won't believe you. We do need to change our worldview, because misery is a real problem in many countries.
SavannahLaMar , 12 Oct 2016 07:47
It is tempting to see the world before Thatcherism, which is what most English writers mean when they talk about neo-liberalism, as an idyll, but it simply wasn't.

The great difficulty with capitalism is that while it is in many ways an amoral doctrine, it goes hand in hand with personal freedom. Socialism is moral in its concern for the poorest, but then it places limits on personal freedom and choice. That's the price people pay for the emphasis on community, rather than the individual.

Close communities can be a bar on personal freedom and have little tolerance for people who deviate from the norm. In doing that, they can entrench loneliness.

This happened, and to some extent is still happening, in the working class communities which we typically describe as 'being destroyed by Thatcher'. It's happening in close-knit Muslim communities now.

I'm not attempting to vindicate Thatcherism, I'm just saying there's a pay-off with any model of society. George Monbiot's concerns are actually part of a long tradition - Oliver Goldsmith's Deserted Village (1770) chimes with his thinking, as does DH Lawrence's Lady Chatterley's Lover.

proteusblu -> SavannahLaMar , 12 Oct 2016 08:04
The kind of personal freedom that you say goes hand in hand with capitalism is an illusion for the majority of people. It holds up the prospect of that kind of freedom, but only a minority get access to it. For most, it is necessary to submit yourself to a form of being yoked, in terms of the daily grind which places limits on what you can then do, as the latter depends hugely on money. The idea that most people are "free" to buy the house they want, private education, etc., not to mention whether they can afford the many other things they are told will make them happy, is a very bad joke. Hunter-gatherers have more real freedom than we do. Share
Stephen Bell -> SavannahLaMar , 12 Oct 2016 09:07
Well said. One person's loneliness is another's peace and quiet.
stumpedup_32 -> Firstact , 12 Oct 2016 08:12
According to Wiki: 'Neoliberalism refers primarily to the 20th century resurgence of 19th century ideas associated with laissez-faire economic liberalism. These include extensive economic liberalization policies such as privatization, fiscal austerity, deregulation, free trade, and reductions in government spending in order to enhance the role of the private sector in the economy.'
queequeg7 , 12 Oct 2016 07:54
We grow into fear - the stress of exams and their certain meanings; the lower wages, longer hours, and fewer rights at work; the certainty of debt with ever greater mortgages; the terror of benefit cuts combined with rent increases.

If we're forever afraid, we'll cling to whatever life raft presents.

It's a demeaning way to live, but it serves the Market better than having a free, reasonably paid, secure workforce, broadly educated and properly housed, with rights.

CrazyGuy , 12 Oct 2016 07:54
Insightful analysis... George quite rightly pinpoints the isolating effects of modern society and technology and the impact on the quality of our relationships. The obvious question is how can we offset these trends and does the government care enough to do anything about them?

It strikes me that one of the major problems is that [young] people have been left to their own devices in terms of their consumption of messages from Social and Mass online Media - analogous to leaving your kids in front of a video in lieu of a parental care or a babysitter. In traditional society - the messages provided by Society were filtered by family contact and real peer interaction - and a clear picture of the limited value of the media was propogated by teachers and clerics. Now young and older people alike are left to make their own judgments and we cannot be surprised when they extract negative messages around body image, wealth and social expectations and social and sexual norms from these channels. It's inevitable that this will create a boundary free landscape where insecurity, self-loathing and ultimately mental illness will prosper.

I'm not a traditionalist in any way but there has to be a role for teachers and parents in mediating these messages and presenting the context for analysing what is being said in a healthy way. I think this kind of Personal Esteem and Life Skills education should be part of the core curriculum in all schools. Our continued focus on basic academic skills just does not prepare young people for the real world of judgementalism, superficiality and cliques and if anything dealing with these issues are core life skills.

We can't reverse the fact that media and modern society is changing but we can prepare people for the impact which it can have on their lives.

school10 -> CrazyGuy , 12 Oct 2016 08:04
A politician's answer. X is a problem. Someone else, in your comment it will be teachers that have to sort it out. Problems in society are not solved by having a one hour a week class on "self esteem". In fact self-esteem and self-worth comes from the things you do. Taking kids away from their academic/cultural studies reduces this. This is a problem in society. What can society as a whole do to solve it and what are YOU prepared to contribute.
David Ireland -> CrazyGuy , 12 Oct 2016 09:28
Rather difficult to do when their parents are Thatchers children and buy into the whole celebrity, you are what you own lifestyle too....and teachers are far too busy filling out all the paperwork that shows they've met their targets to find time to teach a person centred course on self-esteem to a class of 30 teenagers.
Ian Harris , 12 Oct 2016 07:54
I think we should just continue to be selfish and self-serving, sneering and despising anyone less fortunate than ourselves, look up to and try to emulate the shallow, vacuous lifestyle of the non-entity celebrity, consume the Earth's natural resources whilst poisoning the planet and the people, destroy any non-contributing indigenous peoples and finally set off all our nuclear arsenals in a smug-faced global firework display to demonstrate our high level of intelligence and humanity. Surely, that's what we all want? Who cares? So let's just carry on with business as usual!
BetaRayBill , 12 Oct 2016 08:01
Neoliberalism is the bastard child of globalization which in effect is Americanization. The basic premise is the individual is totally reliant on the corporate world state aided by a process of fear inducing mechanisms, pharmacology is one of the tools. No community no creativity no free thinking. Poded sealed and cling filmed a quasi existence.
Bluecloud , 12 Oct 2016 08:01 Contributor
Having grown up during the Thatcher years, I entirely agree that neoliberalism has divided society by promoting individual self-optimisation at the expensive of everyone else.

What's the solution? Well if neoliberalism is the root cause, we need a systematic change, which is a problem considering there is no alternative right now. We can however, get active in rebuilding communities and I am encouraged by George Monbiot's work here.

My approach is to get out and join organizations working toward system change. 350.org is a good example. Get involved.

SemenC , 12 Oct 2016 08:09
we live in a narcissistic and ego driven world that dehumanises everyone. we have an individual and collective crisis of the soul. it is our false perception of ourselves that creates a disconnection from who we really are that causes loneliness.
rolloverlove -> SemenC , 12 Oct 2016 11:33
I agree. This article explains why it is a perfectly normal reaction to the world we are currently living in. It goes as far as to suggest that if you do not feel depressed at the state of our world there's something wrong with you ;-)
http://upliftconnect.com/mutiny-of-the-soul/
HaveYouFedTheFish , 12 Oct 2016 08:10
Surely there is a more straightforward possible explanation for increasing incidence of "unhapiness"?

Quite simply, a century of gradually increasing general living standards in the West have lifted the masses up Maslows higiene hierarchy of needs, to where the masses now have largely only the unfulfilled self esteem needs that used to be the preserve of a small, middle class minority (rather than the unfulfilled survival, security and social needs of previous generations)

If so - this is good. This is progress. We just need to get them up another rung to self fulfillment (the current concern of the flourishing upper middle classes).

avid Ireland -> HaveYouFedTheFish , 12 Oct 2016 08:59
Maslow's hierarchy of needs was not about material goods. One could be poor and still fulfill all his criteria and be fully realised. You have missed the point entirely.
HaveYouFedTheFish -> David Ireland , 12 Oct 2016 09:25
Error.... Who mentioned material goods? I think you have not so much "missed the point" as "made your own one up" .

And while agreed that you could, in theory, be poor and meet all of your needs (in fact the very point of the analysis is that money, of itself, isn't what people "need") the reality of the structure of a western capitalist society means that a certain level of affluence is almost certainly a prerequisite for meeting most of those needs simply because food and shelter at the bottom end and, say, education and training at the top end of self fulfillment all have to be purchased. Share

HaveYouFedTheFish -> David Ireland , 12 Oct 2016 09:40
Also note that just because a majority of people are now so far up the hierarchy does in no way negate an argument that corporations haven't also noticed this and target advertising appropriately to exploit it (and maybe we need to talk about that)

It just means that it's lazy thinking to presume we are in some way "sliding backwards" socially, rather than needing to just keep pushing through this adversity through to the summit.

I have to admit it does really stick in my craw a bit hearing millenials moan about how they may never get to *own* a really *nice* house while their grandparents are still alive who didn't even get the right to finish school and had to share a bed with their siblings.

Pinkie123 -> Loatheallpoliticians , 12 Oct 2016 08:25
There is no such thing as a free-market society. Your society of 'self-interest' is really a state supported oligarchy. If you really want to live in a society where there is literally no state and a more or less open market try Somalia or a Latin American city run by drug lords - but even then there are hierarchies, state involvement, militias.

What you are arguing for is a system (for that is what it is) that demands everyone compete with one another. It is not free, or liberal, or democratic, or libertarian. It is designed to oppress, control, exploit and degrade human beings. This kind of corporatism in which everyone is supposed to serve the God of the market is, ironically, quite Stalinist. Furthermore, a society in which people are encouraged to be narrowly selfish is just plain uncivilized. Since when have sociopathy and barbarism been something to aspire to?

LevNikolayevich , 12 Oct 2016 08:17
George, you are right, of course. The burning question, however, is not 'Is our current social set-up making us ill' (it certainly is), but 'Is there a healthier alternative?' What form of society would make us less ill? Socialism and egalatarianism, wherever they are tried, tend to lead to their own set of mental-illness-inducing problems, chiefly to do with thwarted opportunity, inability to thrive, and constraints on individual freedom. The sharing, caring society is no more the answer than the brutally individualistic one. You may argue that what is needed is a balance between the two, but that is broadly what we have already. It ain't perfect, but it's a lot better than any of the alternatives.
David Ireland -> LevNikolayevich , 12 Oct 2016 08:50
We certainly do NOT at present have a balance between the two societies...Have you not read the article? Corporations and big business have far too much power and control over our lives and our Gov't. The gov't does not legislate for a real living minimum wage and expects the taxpayer to fund corporations low wage businesses. The Minimum wage and benefit payments are sucked in to ever increasing basic living costs leaving nothing for the human soul aside from more work to keep body and soul together, and all the while the underlying message being pumped at us is that we are failures if we do not have wealth and all the accoutrements that go with it....How does that create a healthy society?
Saul Till , 12 Oct 2016 08:25
Neoliberalism. A simple word but it does a great deal of work for people like Monbiot.

The simple statistical data on quality of life differences between generations is absolutely nowhere to be found in this article, nor are self-reported findings on whether people today are happier, just as happy or less happy than people thirty years ago. In reality quality of life and happiness indices have generally been increasing ever since they were introduced.
It's more difficult to know if things like suicide, depression and mental illness are actually increasing or whether it's more to do with the fact that the number of people who are prepared to report them is increasing: at least some of the rise in their numbers will be down to greater awareness of said mental illness, government campaigns and a decline in associated social stigma.

Either way, what evidence there is here isn't even sufficient to establish that we are going through some vast mental health crisis in the first place, never mind that said crisis is inextricably bound up with 'neoliberalism'.

Furthermore, I'm inherently suspicious of articles that manage to connect every modern ill to the author's own political bugbear, especially if they cherry-pick statistical findings to support their point. I'd be just as, if not more, suspicious if it was a conservative author trying to link the same ills to the decline in Christianity or similar. In fact, this article reminds me very much of the sweeping claims made by right-wingers about the allegedly destructive effects of secularism/atheism/homosexuality/video games/South Park/The Great British Bake Off/etc...

If you're an author and you have a pet theory, and upon researching an article you believe you see a pattern in the evidence that points towards further confirmation of that theory, then you should step back and think about whether said pattern is just a bit too psychologically convenient and ideologically simple to be true. This is why people like Steven Pinker - properly rigorous, scientifically versed writer-researchers - do the work they do in systematically sifting through the sociological and historical data: because your mind is often actively trying to convince you to believe that neoliberalism causes suicide and depression, or, if you're a similarly intellectually lazy right-winger, homosexuality leads to gang violence and the flooding of(bafflingly, overwhelmingly heterosexual) parts of America.

I see no sign that Monbiot is interested in testing his belief in his central claim and as a result this article is essentially worthless except as an example of a certain kind of political rhetoric.

Rapport , 12 Oct 2016 08:38

social isolation is strongly associated with depression, suicide, anxiety, insomnia, fear and the perception of threat .... Dementia, high blood pressure, heart disease, strokes, lowered resistance to viruses, even accidents are more common among chronically lonely people.

Loneliness has a comparable impact on physical health to smoking 15 cigarettes a day:

it appears to raise the risk of early death by 26%

Why don't we explore some of the benefits?.. Following the long list of some the diseases, loneliness can inflict on individuals, there must be a surge in demand for all sort of medications; anti-depressants must be topping the list. There is a host many other anti-stress treatments available of which Big Pharma must be carving the lion's share. Examine the micro-economic impact immediately following a split or divorce. There is an instant doubling on the demand for accommodation, instant doubling on the demand for electrical and household items among many other products and services. But the icing on the cake and what is really most critical for Neoliberalism must be this: With the morale barometer hitting the bottom, people will be less likely to think of a better future, and therefore, less likely to protest. In fact, there is nothing left worth protecting.

Your freedom has been curtailed. Your rights are evaporating in front of your eyes. And Best of all, from the authorities' perspective, there is no relationship to defend and there is no family to protect. If you have a job, you want to keep, you must prove your worthiness every day to 'a company'.

[Sep 11, 2017] The only countervailing force, unions, were deliberately destroyed. Neoliberalism needs to atomize work force to function properly and destroys any solidarity among workers. Unions are anathema for neoliberalism, because they prevent isolation and suppression of workers.

Highly recommended!
Apr 15, 2017 | economistsview.typepad.com
Denis Drew , April 15, 2017 at 06:58 AM
What's missing in each and every case above -- at least in the USA! -- is countervailing power. 6% labor union density in private business is equivalent to 20/10 blood pressure in the human body: it starves every other healthy process.

It is not just labor market bargaining power that has gone missing, it is not only the lost political muscle for the average person (equal campaign financing, almost all the votes), it is also the lack of machinery to deal with day-to-day outrages on a day-to-day basis (that's called lobbying).

Late dean of the Washington press corps David Broder told a young reporter that when he came to DC fifty years ago (then), all the lobbyists were union. Big pharma's biggest rip-offs, for profit school scams, all the stuff you hear about for one day on the news but no action is ever taken -- that's because there is no (LABOR UNION) mechanism to stay on top of all (or any) of it (LOBBYISTS).

cm -> Denis Drew ... , April 15, 2017 at 12:16 PM
It is a chicken and egg problem. Before large scale automation and globalization, unions "negotiated" themselves their power, which was based on employers having much fewer other choices. Any union power that was ever legislated was legislated as a *result* of union leverage, not to enable the latter (and most of what was legislated amounts to limiting employer interference with unions).

It is a basic feature of human individual and group relations that when you are needed you will be treated well, and when you are not needed you will be treated badly (or at best you will be ignored if that's less effort overall). And by needed I mean needed as a specific individual or narrowly described group.

What automation and globalization have done is created a glut of labor - specifically an oversupply of most skill sets relative to all the work that has to be done according to socially mediated decision processes (a different set of work than what "everybody" would like to happen as long as they don't have to pay for it, taking away from other necessary or desired expenditure of money, effort, or other resources).

Maybe when the boomers age out and become physically too old to work, the balance will tip again.

Peter K. -> cm... , April 15, 2017 at 12:18 PM
"What automation and globalization have done is created a glut of labor - "

No it's been policy and politics. Automation and globalization are red herrings. They've been used to enrich the rich and stick it to everyone else.

They don't have to be used that way.

There is nothing natural or inherent about it. It's all politics and class war and the wrong side is winning.

cm -> Peter K.... , April 15, 2017 at 01:32 PM
OK - they have *enabled* it. The agency is always on the human side. But at the same time, you cannot wish or postulate away human greed.
cm -> Peter K.... , April 15, 2017 at 01:44 PM
Same thing with the internet - it has been hailed as a democratizing force, but instead it has mostly (though not wholly) amplified the existing power differentials and motivation structures.

Anecdotally, a lot of companies and institutions are either restricting internal internet access or disconnecting parts of their organizations from the internet altogether, and disabling I/O channels like USB sticks, encrypting disks, locking out "untrusted" boot methods, etc. The official narrative is security and preventing leaks of confidential information, but the latter is clearly also aimed in part at whistleblowers disclosing illegal or unethical practices. Of course that a number of employees illegitimately "steal" data for personal and not to uncover injustices doesn't really help.

Denis Drew -> cm... , April 15, 2017 at 03:19 PM
Surely there is a huge difference between the labor market here and the labor market in continental Europe -- though labor there faces the same squeezing forces it faces here. Think of German auto assembly line workers making $60 an hour counting benefits.

Think Teamster Union UPS drivers -- and pity the poor, lately hired (if they are even hired) Amazon drivers -- maybe renting vans.

The Teamsters have the only example here of what is standard in continental Europe: centralized bargaining (aka sector wide labor agreements): the Master National Freight Agreement: wherein everybody doing the same job in the same locale (entire nation for long distance truckers) works under one common contract (in French Canada too).

Imagine centralized bargaining for airlines. A few years ago Northwest squeezed a billion dollars in give backs out of its pilots -- next year gave a billion dollars in bonuses to a thousand execs. Couldn't happen under centralized bargaining -- wouldn't even give the company any competitive advantage.

libezkova -> Denis Drew ... , April 15, 2017 at 04:14 PM
"What's missing in each and every case above -- at least in the USA! -- is countervailing power."

It was deliberately destroyed. Neoliberalism needs to "atomize" work force to function properly and destroys any solidarity among workers. Unions are anathema for neoliberalism, because they prevent isolation and suppression of workers.

Amazon and Uber are good examples. Both should be prosecuted under RICO act. Wall-Mart in nor far from them.

Rising fatalities from heart disease and stroke, diabetes, drug overdoses, accidents and other conditions caused the lower life expectancy revealed in a report by the National Center for Health Statistics .

http://www.cdc.gov/nchs/products/databriefs/db267.htm

http://economistsview.typepad.com/economistsview/2017/03/paul-krugman-the-scammers-the-scammed-and-americas-fate.html#comment-6a00d83451b33869e201b7c8e3c7c6970b

== quote ==
Anne Case and Angus Deaton garnered national headlines in 2015 when they reported that the death rate of midlife non-Hispanic white Americans had risen steadily since 1999 in contrast with the death rates of blacks, Hispanics and Europeans. Their new study extends the data by two years and shows that whatever is driving the mortality spike is not easing up.
... ... ..

Offering what they call a tentative but "plausible" explanation, they write that less-educated white Americans who struggle in the job market in early adulthood are likely to experience a "cumulative disadvantage" over time, with health and personal problems that often lead to drug overdoses, alcohol-related liver disease and suicide.

== end of quote ==

Greed is toxic. As anger tends to accumulate, and then explode, at some point neoliberals might be up to a huge surprise. Trump was the first swan.

Everybody bet on Hillary victory. And then...

[Sep 11, 2017] Around 1970 corporate managers and professionals realized that they shared the same education, background and interests with capital owners and realigned themselves, abandoning working class and a large part of lower middle class (small business owners)

Highly recommended!
Notable quotes:
"... My observation is that the New Class (professionals, lobbyists, financiers, teachers, engineers, etc.) have ruled the country in recent decades. For much of the twentieth century this class was in some tension with corporations, and used their skills at influencing government policy to help develop and protect the welfare state, since they needed the working class as a counterweight to the natural influence of corporate money and power. However, somewhere around 1970 I think this tension collapsed, since corporate managers and professionals realized that they shared the same education, background and interests. ..."
"... This "peace treaty" between former rivals allowed the whole newly enlarged New Class to swing to the right, since they really didn't particularly need the working class politically anymore. And since it is the hallmark of this class to seek prestige, power and money while transferring risk away from themselves, the middle class and blue collar community has been the natural recipient. Free trade (well, for non-professionals, anyway), neoliberalism, ruthless private equity job cutting, etc., etc. all followed very naturally. The re-alignment of the Democratic Party towards the right was a natural part of this evolution. ..."
"... They also sense that organized politics in this country – being chiefly the province of the New Class – has left them with little leverage to change any of this. ..."
"... the New Class has very strong internal solidarity – and since somebody has to pay for these little mistakes, everyone outside that class is "fair game." ..."
"... So in that sense–to the extent that you define liberal as the ideology of the New Class (neoliberal, financial-capitalistic, big corporate-friendly but opposed to non-meritocratic biases like racism, sexism, etc.) is "liberalism", I think it is reasonable to say that it has bred resistance and anger among the "losers." As far as having "failed", well, we'll see: the New Class still controls almost all the levers of power. It has many strategies for channeling lower-class anger and I think under Trump we'll see those rolled out. ..."
"... Perhaps some evolution in "the means of production" or in how governments are influenced will ultimately develop to divide or downgrade the New Class, and break its lock on the corridors of power, but I don't see it on the horizon just yet. If anyone else does, I'd love to hear more about it. ..."
"... A little puzzled by the inclusion of teachers, alongside financiers and the like, in William Meyer's list of the New Class rulers. Enablers of those rulers, no doubt, but not visibly calling the shots. But then I'm probably just another liberal elitist failing to recognize my own hegemony, like Chris. ..."
"... I assume he meant certain professors [of economics]. Actually on @4, there's a good chapter on the topic in a Thomas Franks latest. ..."
Nov 14, 2016 | crookedtimber.org

William Meyer 11.13.16 at 9:40 pm 4

Obviously Mr. Deerin is, on its face, utilizing a very disputable definition of "liberal."

However, I think a stronger case could be made for something like Mr. Deerin's argument, although it doesn't necessarily get to the same conclusion.

My observation is that the New Class (professionals, lobbyists, financiers, teachers, engineers, etc.) have ruled the country in recent decades. For much of the twentieth century this class was in some tension with corporations, and used their skills at influencing government policy to help develop and protect the welfare state, since they needed the working class as a counterweight to the natural influence of corporate money and power. However, somewhere around 1970 I think this tension collapsed, since corporate managers and professionals realized that they shared the same education, background and interests.

Vive la meritocracy. This "peace treaty" between former rivals allowed the whole newly enlarged New Class to swing to the right, since they really didn't particularly need the working class politically anymore. And since it is the hallmark of this class to seek prestige, power and money while transferring risk away from themselves, the middle class and blue collar community has been the natural recipient. Free trade (well, for non-professionals, anyway), neoliberalism, ruthless private equity job cutting, etc., etc. all followed very naturally. The re-alignment of the Democratic Party towards the right was a natural part of this evolution.

I think the 90% or so of the community who are not included in this class are confused and bewildered and of course rather angry about it. They also sense that organized politics in this country – being chiefly the province of the New Class – has left them with little leverage to change any of this. Watching the bailouts and lack of prosecutions during the GFC made them dimly realize that the New Class has very strong internal solidarity – and since somebody has to pay for these little mistakes, everyone outside that class is "fair game."

So in that sense–to the extent that you define liberal as the ideology of the New Class (neoliberal, financial-capitalistic, big corporate-friendly but opposed to non-meritocratic biases like racism, sexism, etc.) is "liberalism", I think it is reasonable to say that it has bred resistance and anger among the "losers." As far as having "failed", well, we'll see: the New Class still controls almost all the levers of power. It has many strategies for channeling lower-class anger and I think under Trump we'll see those rolled out.

Let me be clear, I'm not saying Donald Trump is leading an insurgency against the New Class – but I think he tapped into something like one and is riding it for all he can, while not really having the slightest idea what he's doing.

Perhaps some evolution in "the means of production" or in how governments are influenced will ultimately develop to divide or downgrade the New Class, and break its lock on the corridors of power, but I don't see it on the horizon just yet. If anyone else does, I'd love to hear more about it.

Neville Morley 11.14.16 at 7:11 am ( 31 )

A little puzzled by the inclusion of teachers, alongside financiers and the like, in William Meyer's list of the New Class rulers. Enablers of those rulers, no doubt, but not visibly calling the shots. But then I'm probably just another liberal elitist failing to recognize my own hegemony, like Chris.

http://www.theguardian.com/commentisfree/2016/nov/14/are-you-a-sinister-filthy-elite-take-this-quiz-and-find-out-now?CMP=Share_iOSApp_Other

Chris S 11.14.16 at 7:31 am

@29,

I assume he meant certain professors [of economics]. Actually on @4, there's a good chapter on the topic in a Thomas Franks latest.

[Sep 05, 2017] Is the World Slouching Toward a Grave Systemic Crisis by Philip Zelikow

Highly recommended!
This is a weak and way too long article. That demonstrated inability to think in scientific terms such neoliberalism, neocolonialism and end of cheap oil. Intead it quckly deteriorated into muchy propaganda. But it touches on legacy of Troskyst Burnham, who was one of God fathers of neoliberalism.
Zelikov is the guy who whitewashed 9/11. This neocon does not use the term neoliberalism even once but he writes like a real neoliberal Trotskyite.
Notable quotes:
"... The Managerial State ..."
"... Orwell was profoundly disturbed by Burnham's vision of the emerging "managerial state." All too convincing. Yet he also noticed how, when Burnham described the new superstates and their demigod rulers, Burnham exhibited "a sort of fascinated admiration." ..."
"... Burnham had predicted Nazi victory. Later, Burnham had predicted the Soviet conquest of all Eurasia. By 1947 Burnham was calling for the U.S. to launch a preventive nuclear war against the Soviet Union to head off the coming disaster. ..."
"... Orwell saw a pattern. Such views seemed symptoms of "a major mental disease, and its roots," he argued, which, "lie partly in cowardice and partly in the worship of power, which is not fully separable from cowardice." ..."
"... Orwell had another critique. He deplored the fact that, "The tendency of writers like Burnham, whose key concept is 'realism,' is to overrate the part played in human affairs by sheer force." Orwell went on. "I do not say that he is wrong all the time. But somehow his picture of the world is always slightly distorted." ..."
"... "the fact that certain rules of conduct have to be observed if human society is to hold together at all." ..."
"... Nineteen Eighty-Four. ..."
"... By that time, Burnham had become a consultant to the CIA, advising its new office for covert action. That was the capacity in which Burnham met the young William F. Buckley. Burnham mentored Buckley. It was with Buckley that Burnham became one of the original editors of the National Review ..."
"... Suicide of the West: An Essay on the Meaning and Destiny of Liberalism ..."
"... What about our current president? Last month he urged his listeners to be ready to fight to the death for the "values" of the West. He named two: "individual freedom and sovereignty. ..."
"... Certainly our history counsels modesty. Americans and the American government have a very mixed and confusing record in the way we have, in practice, related values in foreign governance to what our ..."
"... "A stable world order needs a careful balance between power and legitimacy. Legitimacy is upheld when states, no matter how powerful, observe norms of state behavior." India, Saran said, had the "civilizational attributes." ..."
Sep 05, 2017 | www.theatlantic.com

My first prophet was a man named James Burnham. In 1941 Burnham was 35 years old. From a wealthy family -- railroad money -- he was a star student at Princeton, then on to Balliol College, Oxford. Burnham was an avowed Communist. He joined with Trotsky during the 1930s.

By 1941, Burnham had moved on, as he published his first great book of prophecy, called The Managerial State . The book made him a celebrity. It was widely discussed on both sides of the Atlantic.

Burnham's vision of the future is one where the old ideologies, like socialism, have been left behind. The rulers are really beyond all that. They are the managerial elite, the technocrats, the scientists, and the bureaucrats who manage the all-powerful enterprises and agencies.

You know this vision. You have seen it so often at the movies. It is the vision in all those science fiction dystopias. You know, with the gilded masterminds ruling all from their swank towers and conference rooms.

It's a quite contemporary vision. For instance, it is not far at all from the way I think the rulers of China imagine themselves and their future.

In this and other writings, Burnham held up Stalin's Soviet Union and Hitler's Germany as the pure exemplars of these emerging managerial states. They were showing the way to the future. By comparison, FDR's New Deal was a primitive version. And he thought it would lose.

Burnham's views were not so unusual among the leading thinkers of the 1940s, like Joseph Schumpeter or Karl Polanyi. All were pessimistic about the future of free societies, including Friedrich Hayek, who really believed that once-free countries were on the "road to serfdom." But Burnham took the logic further.

Just after the second world war ended, my other prophet decided to answer Burnham. You know him as George Orwell.

Eric Blair, who used George Orwell as his pen name, was about Burnham's age. Their backgrounds were very different. Orwell was English. Poor. Orwell's lungs were pretty rotten and he would not live long. Orwell was a democratic socialist who came to loathe Soviet communism. He had volunteered to fight in Spain, was shot through the throat. Didn't stop his writing.

Orwell was profoundly disturbed by Burnham's vision of the emerging "managerial state." All too convincing. Yet he also noticed how, when Burnham described the new superstates and their demigod rulers, Burnham exhibited "a sort of fascinated admiration."

Orwell wrote : For Burnham, "Communism may be wicked, but at any rate it is big: it is a terrible, all-devouring monster which one fights against but which one cannot help admiring." To Orwell, Burnham's mystical picture of "terrifying, irresistible power" amounted to "an act of homage, and even of self-abasement." irresistible power" amounted to "an act of homage, and even of self-abasement."

Burnham had predicted Nazi victory. Later, Burnham had predicted the Soviet conquest of all Eurasia. By 1947 Burnham was calling for the U.S. to launch a preventive nuclear war against the Soviet Union to head off the coming disaster.

Orwell saw a pattern. Such views seemed symptoms of "a major mental disease, and its roots," he argued, which, "lie partly in cowardice and partly in the worship of power, which is not fully separable from cowardice."

Orwell thought that "power worship blurs political judgment because it leads, almost unavoidably, to the belief that present trends will continue. Whoever is winning at the moment will always seem to be invincible."

Orwell had another critique. He deplored the fact that, "The tendency of writers like Burnham, whose key concept is 'realism,' is to overrate the part played in human affairs by sheer force." Orwell went on. "I do not say that he is wrong all the time. But somehow his picture of the world is always slightly distorted."

Finally, Orwell thought Burnham overestimated the resilience of the managerial state model and underestimated the qualities of open and civilized societies. Burnham's vision did not allow enough play for "the fact that certain rules of conduct have to be observed if human society is to hold together at all."

Having written these critical essays, Orwell then tried to make his case against Burnham in another way. This anti-Burnham argument became a novel -- the novel called Nineteen Eighty-Four.

That book came out in 1949. Orwell died the next year.

By that time, Burnham had become a consultant to the CIA, advising its new office for covert action. That was the capacity in which Burnham met the young William F. Buckley. Burnham mentored Buckley. It was with Buckley that Burnham became one of the original editors of the National Review and a major conservative commentator. In 1983, President Reagan awarded Burnham the Presidential Medal of Freedom.

Not that Burnham's core vision had changed. In 1964, he published another book of prophecy. This was entitled Suicide of the West: An Essay on the Meaning and Destiny of Liberalism . The Soviet Union and its allies had the will to power. Liberalism and its defenders did not. "The primary issue before Western civilization today, and before its member nations, is survival." (Sound familiar?)

And it was liberalism, Burnham argued, with its self-criticism and lack of commitment, that would pull our civilization down from within. Suicide.

So was Burnham wrong? Was Orwell right? This is a first-class historical question. Burnham's ideal of the "managerial state" is so alive today.

State the questions another way: Do open societies really work better than closed ones? Is a more open and civilized world really safer and better for Americans? If we think yes, then what is the best way to prove that point?

My answer comes in three parts. The first is about how to express our core values. American leaders tend to describe their global aims as the promotion of the right values. Notice that these are values in how other countries are governed. President Obama's call for an "international order of laws and institutions," had the objective of winning a clash of domestic governance models around the world. This clash he called: "authoritarianism versus liberalism."

Yet look at how many values he felt "liberalism" had to include. For Obama the "road of true democracy," included a commitment to "liberty, equality, justice, and fairness" and curbing the "excesses of capitalism."

What about our current president? Last month he urged his listeners to be ready to fight to the death for the "values" of the West. He named two: "individual freedom and sovereignty. "

A week later, two of his chief aides, Gary Cohn and H.R. McMaster, doubled down on the theme that America was promoting, with its friends, the values that "drive progress throughout the world." They too had a laundry list. They omitted "sovereignty." But then, narrowing the list only to the "most important," they listed: "[T]he dignity of every person equality of women innovation freedom of speech and of religion and free and fair markets."

By contrast, the anti-liberal core values seem simple. The anti-liberals are for authority and against anarchy and disorder. And they are for community and against the subversive, disruptive outsider.

There are of course many ways to define a "community" -- including tribal, religious, political, or professional. It is a source of identity, of common norms of behavior, of shared ways of life.

Devotees of freedom and liberalism do not dwell as much on "community." Except to urge that everybody be included, and treated fairly.

But beliefs about "community" have always been vital to human societies. In many ways, the last 200 years have been battles about how local communities try to adapt or fight back against growing global pressures -- especially economic and cultural, but often political and even military.

So much of the divide between anti-liberals or liberals is cultural. Little has to do with "policy" preferences. Mass politics are defined around magnetic poles of cultural attraction. If Americans engage this culture war on a global scale, I plead for modesty and simplicity. As few words as possible, as fundamental as possible.

Certainly our history counsels modesty. Americans and the American government have a very mixed and confusing record in the way we have, in practice, related values in foreign governance to what our government does.

Also, until the late 19th century, "democracy" was never at the core of liberal thinking. Liberal thinkers were very interested in the design of republics. But classical liberal thinkers, including many of the American founders, always had a troubled relationship with democracy. There were always two issues.

First, liberals were devoted, above all, to liberty of thought and reason. Pace Tom Paine, the people were often regarded as intolerant, ill-informed, and superstitious -- unreliable judges of scientific truth, historical facts, moral duty, and legal disputes. The other problem is that democracy used to be considered a synonym for mob rule. Elections can be a supreme check on tyranny. But sometimes the people have exalted their dictators and have not cared overmuch about the rule of law. It therefore still puzzles me: Why is there so much debate about which people are "ready for democracy"? Few of the old theorists thought any people were ready for such a thing.

It was thought, though, that any civilized people might be persuaded to reject tyranny. Any civilized community might prefer a suitably designed and confining constitution, limiting powers and working at a reliable rule of law.

By the way, that "rule of law" was a value that Mr. Cohn and General McMaster left off of their "most important" list -- yet is anything more essential to our way of life?

Aside from the relation with democracy, the other great ideal that any liberal order finds necessary, yet troubling, is the one about community: nationalism.

Consider the case of Poland. For 250 years, Poland has been a great symbol to the rest of Europe. For much of Polish and European history, nationalism was an ally of liberalism. Versus Czarist tyranny, versus aristocratic oligarchs.

But sometimes not. Today, Poland's governing Law and Justice party is all about being anti-Russian, anti-Communist, and pro-Catholic. They are all about "authority" and "community." At the expense of ? Poland's president has just had to intervene when the rule of law itself seemed to be at stake.

We Americans and our friends should define what we stand for. Define it in a way that builds a really big tent. In 1989, working for the elder President Bush, I was able to get the phrase, "commonwealth of free nations," into a couple of the president's speeches. It didn't stick. Nearly 20 years later, in 2008, the late Harvard historian Ernest May and I came up with a better formulation. We thought that through human history the most adaptable and successful societies had turned out to be the ones that were "open and civilized."

Rather than the word, "liberal," the word "open" seems more useful. It is the essence of liberty. Indian prime minister Narendra Modi uses it in his speeches; Karl Popper puts it at the core of his philosophy; Anne-Marie Slaughter makes it a touchstone in her latest book. That's a big tent right there.

Also the ideal of being "civilized." Not such an old-fashioned ideal. It gestures to the yearning for community. Not only a rule of law, also community norms, the norms that reassure society and regulate rulers -- whether in a constitution or in holy scripture.

Chinese leaders extol the value of being civilized -- naturally, they commingle it with Sinification. Muslims take pride in a heritage that embraces norms of appropriate conduct by rulers. And, of course, in an open society, community norms can be contested and do evolve.

The retired Indian statesman, Shyam Saran, recently lectured on, "Is a China-centric world inevitable?" To Saran, "A stable world order needs a careful balance between power and legitimacy. Legitimacy is upheld when states, no matter how powerful, observe norms of state behavior." India, Saran said, had the "civilizational attributes."

... ... ...

Philip Zelikow is the White Burkett Miller Professor of History at the University of Virginia, and is a former executive director of the 9/11 Commission.

[Sep 05, 2017] A State of Neoliberalism

Highly recommended!
Notable quotes:
"... "number of refugees and displaced persons increased dramatically over the decade, doubling from 2007 to 2015, to approximately 60 million people. There are nine countries with more than 10 per cent of their population classified as refugees or displaced persons with Somalia and South Sudan having more than 20 per cent of their population displaced and Syria with over 60 per cent displaced." ..."
"... The term neoliberalism was coined at a meeting in Paris in 1938 . Among the delegates were two men who came to define the ideology, Ludwig von Mises and Friedrich Hayek. Both exiles from Austria, they saw social democracy, exemplified by Franklin Roosevelt's New Deal and the gradual development of Britain's welfare state, as manifestations of a collectivism that occupied the same spectrum as nazism and communism. ..."
"... Neoliberalism is not a collection of theories meant to improve the economy. Instead, it should be understood as a class strategy designed to redistribute wealth upward toward an increasingly narrow fraction of population (top 1%). It is the Marxist idea of "class struggle" turned on its head and converted into a perverted "revolt of the elite," unsatisfied with the peace of the pie it is getting from the society. While previously excessive greed was morally condemned, neoliberalism employed a slick trick of adopting "reverse," Nietzschean Ubermench morality in bastartized form propagated in the USA under the name of Randism. ..."
"... This neoliberal transformation of the society into a top 1% (or, more correctly, 0.01%) "have and have more" and "the rest" undermined and exploited by financial oligarchy with near complete indifference to what happens with the most unprotected lower quintile of the population. The neoliberal reformers don't care about failures and contradictions of the economic system which drive the majority of country population into abject poverty, as it happened in Russia. Nor do they care about their actions such as blowing financial bubbles, like in the USA in 2008 can move national economics toward disaster. They have a somewhat childish, simplistic "greed is good" mentality: they just want to have their (as large as possible) piece of economic pie fast and everything else be damned. In a way, they are criminals and neoliberalism is a highly criminogenic creed, but it tried to conceal the racket and plunder it inflicts of the societies under the dense smoke screen of "free market" newspeak. ..."
"... That means that in most countries neoliberalism is an unstable social order as plunder can't continue indefinitely. It was partially reversed in Chile, Russia, and several other countries. It was never fully adopted in northern Europe. ..."
"... One can see an example of this smoke screen in Thatcher's dictum of neoliberalism: "There is no such thing as society. There are only individuals and families." In foreign policy neoliberalism behaves like brutal imperialism which subdue countries either by debt slavery or direct military intervention. In a neoliberal view the world consist of four concentric cycles which in order of diminishing importance are . ..."
"... Finance is accepted as the most important institution of the civilization which should govern all other spheres of life. It is clear that such a one-dimensional view is wrong, but neoliberals like communists before them have a keen sense of mission and made its "long march through the institutions" and changed the way Americans think (Using the four "M" strategy -- money, media, marketing, and management) ..."
"... A well-oiled machine of foundations, lobbies, think-tanks, economic departments of major universities, publications, political cadres, lawyers and activist organizations slowly and strategically took over nation after nation. A broad alliance of neo-liberals, neo-conservatives and the religious right successfully manufactured a new common sense, assaulted Enlightenment values and formed a new elite, the top layer of society, where this "greed is good" culture is created and legitimized. ..."
"... Normally these decisions could be made after the election, and ideally after the selection of a National Economic Advisor, but, of course, these are not normal times. ..."
"... Jeb stated that Trump previously was one of Clinton's largest supporters, not only by verbally expressing that he hoped she won the election, but financially contributing to her campaign. Bush explained that it seems "too good to be true" that Trump suddenly doesn't support Hillary and has a plan "to make America great again." He believes it is much more likely that he is part of the Hillary campaign and is doing "his part" to ensure his friend elected in November. ..."
"... that the United States is now an "oligarchy" in which "unlimited political bribery" has created "a complete subversion of our political system as a payoff to major contributors." Both Democrats and Republicans, Carter said, "look upon this unlimited money as a great benefit to themselves." ..."
"... Carter was responding to a question from Hartmann about recent Supreme Court decisions on campaign financing like Citizens United . ..."
"... HARTMANN: Our Supreme Court has now said, "unlimited money in politics." It seems like a violation of principles of democracy. Your thoughts on that? ..."
"... CARTER: It violates the essence of what made America a great country in its political system. Now it's just an oligarchy, with unlimited political bribery being the essence of getting the nominations for president or to elect the president. And the same thing applies to governors and U.S. senators and congress members. So now we've just seen a complete subversion of our political system as a payoff to major contributors, who want and expect and sometimes get favors for themselves after the election's over. The incumbents, Democrats and Republicans, look upon this unlimited money as a great benefit to themselves. Somebody's who's already in Congress has a lot more to sell to an avid contributor than somebody who's just a challenger ..."
"... More than one in five U.S. millennials would be open to backing a communist candidate, and a third believe George W. Bush killed more people than Joseph Stalin, according to a new poll released Monday. ..."
"... Overall, the poll found, Americans remain broadly hostile to socialism and communism, even though 67 percent of the populace believes rich people don't pay "their fair share" and 52 percent believe America's economic system works against them. ..."
Nov 16, 2016 | rashidmod.com

Filed under: United Panther Movement and tagged with: United Panther Movement

...The U.S. Military is deployed globally with bases in the majority of countries and "partnership" arrangements to train and advise most of the world's armed forces. The U.S. is the dominant force in NATO and of the United Nations' armed forces. A recent report by the Institute for Economics and Peace found a mere ten nations on the planet are not at war and completely free from conflict. The report cites an historic 10-year deterioration in world peace, with the "number of refugees and displaced persons increased dramatically over the decade, doubling from 2007 to 2015, to approximately 60 million people. There are nine countries with more than 10 per cent of their population classified as refugees or displaced persons with Somalia and South Sudan having more than 20 per cent of their population displaced and Syria with over 60 per cent displaced." [1] According to the report, the United States spends an outrageously high percentage of the globe's military expenditures -- 38 percent -- while the next largest military spender, China, accounted for considerably less, 10 percent of the global share. [2]

....As George Monbiot explained:

"The term neoliberalism was coined at a meeting in Paris in 1938 . Among the delegates were two men who came to define the ideology, Ludwig von Mises and Friedrich Hayek. Both exiles from Austria, they saw social democracy, exemplified by Franklin Roosevelt's New Deal and the gradual development of Britain's welfare state, as manifestations of a collectivism that occupied the same spectrum as nazism and communism.

"In The Road to Serfdom , published in 1944, Hayek argued that government planning, by crushing individualism, would lead inexorably to totalitarian control. Like Mises's book Bureaucracy , The Road to Serfdom was widely read. It came to the attention of some very wealthy people, who saw in the philosophy an opportunity to free themselves from regulation and tax. When, in 1947, Hayek founded the first organisation that would spread the doctrine of neoliberalism!the Mont Pelerin Society!it was supported financially by millionaires and their foundations.

"With their help, he began to create what Daniel Stedman Jones describes in Masters of the Universe as "a kind of neoliberal International": a transatlantic network of academics, businessmen, journalists and activists. The movement's rich backers funded a series of think tanks which would refine and promote the ideology. Among them were the American Enterprise Institute, the Heritage Foundation, the Cato Institute, the Institute of Economic Affairs, the Centre for Policy Studies and the Adam Smith Institute. They also financed academic positions and departments, particularly at the universities of Chicago and Virginia.

"As it evolved, neoliberalism became more strident. Hayek's view that governments should regulate competition to prevent monopolies from forming gave way, among American apostles such as Milton Friedman, to the belief that monopoly power could be seen as a reward for efficiency." [3]

As an ideology, neoliberalism borrows heavily from Trotskyism. "One can view neoliberalism as Trotskyism refashioned for elite." [4] Instead of " proletarians of all countries unite " we have [the] slogan " neoliberal elites of all countries unite. [5] Stalin purged Trotsky, but some of his disciples made the transition to become founding intellectuals of neoliberal ideology, and in particular its "neo-conservative" wing. "Neoliberalism is also an example of emergence of ideologies, not from their persuasive power or inner logic, but from the private interests of the ruling elite. Political pressure and money created the situation in which intellectually bankrupt ideas could prevail much like Catholicism prevailed during Dark Ages in Europe. In a way, this is return to Dark Ages on a new level." [6]

Trotsky's elitism and contempt for the masses led naturally to neoliberalism. As M.J. Olgin pointed out: Today Trotskyism no more confines itself to "informing" the bourgeoisie. Today Trotskyism is the center and the rallying point for the enemies of the Soviet Union, of the proletarian revolution in capitalist countries, of the Communist International. Trotskyism is trying not only to disintegrate the dictatorship of the proletariat in the Soviet Union, but also to disintegrate the forces that make for the dictatorship of the proletariat the world over. [7] Neoliberalism also borrows from the ideology of fascism. As Giovanni Gentile, "The Philosopher of Fascism" expressed in a quote often attributed to Mussolini: "Fascism should more properly be called corporatism , since it is the merger of state and corporate power." Gentile also stated in The Origins and Doctrine of Fascism , that "mankind only progresses through division, and progress is achieved through the clash and victory of one side over another." [8]

Neoliberalism is a new form of corporatism based on the ideology of market fundamentalism, dominance of finance and cult of rich ("greed is good") instead of the ideology on racial or national superiority typical for classic corporatism. Actually, some elements of the idea of "national superiority" were preserved in a form superiority of "corporate management" and top speculators over other people. In a way, neoliberalism considers bankers and corporations top management to be a new Aryan race. As it relies on financial mechanisms and banks instead of brute force of subduing people the practice of neoliberalism outside of the G7 is also called neocolonialism. Neoliberal practice within G7 is called casino capitalism, an apt term that underscore [s] the role of finance and stock exchange in this new social order. Neoliberalism is an example of emergence of ideologies not from their persuasive power or inner logic, but from the private interests of ruling elite. Political pressure and money created the situation in which intellectually bankrupt ideas could prevail .

Neoliberalism is not a collection of theories meant to improve the economy. Instead, it should be understood as a class strategy designed to redistribute wealth upward toward an increasingly narrow fraction of population (top 1%). It is the Marxist idea of "class struggle" turned on its head and converted into a perverted "revolt of the elite," unsatisfied with the peace of the pie it is getting from the society. While previously excessive greed was morally condemned, neoliberalism employed a slick trick of adopting "reverse," Nietzschean Ubermench morality in bastartized form propagated in the USA under the name of Randism. [9]

This neoliberal transformation of the society into a top 1% (or, more correctly, 0.01%) "have and have more" and "the rest" undermined and exploited by financial oligarchy with near complete indifference to what happens with the most unprotected lower quintile of the population. The neoliberal reformers don't care about failures and contradictions of the economic system which drive the majority of country population into abject poverty, as it happened in Russia. Nor do they care about their actions such as blowing financial bubbles, like in the USA in 2008 can move national economics toward disaster. They have a somewhat childish, simplistic "greed is good" mentality: they just want to have their (as large as possible) piece of economic pie fast and everything else be damned. In a way, they are criminals and neoliberalism is a highly criminogenic creed, but it tried to conceal the racket and plunder it inflicts of the societies under the dense smoke screen of "free market" newspeak.

That means that in most countries neoliberalism is an unstable social order as plunder can't continue indefinitely. It was partially reversed in Chile, Russia, and several other countries. It was never fully adopted in northern Europe.

One can see an example of this smoke screen in Thatcher's dictum of neoliberalism: "There is no such thing as society. There are only individuals and families." In foreign policy neoliberalism behaves like brutal imperialism which subdue countries either by debt slavery or direct military intervention. In a neoliberal view the world consist of four concentric cycles which in order of diminishing importance are .

Finance is accepted as the most important institution of the civilization which should govern all other spheres of life. It is clear that such a one-dimensional view is wrong, but neoliberals like communists before them have a keen sense of mission and made its "long march through the institutions" and changed the way Americans think (Using the four "M" strategy -- money, media, marketing, and management)

A well-oiled machine of foundations, lobbies, think-tanks, economic departments of major universities, publications, political cadres, lawyers and activist organizations slowly and strategically took over nation after nation. A broad alliance of neo-liberals, neo-conservatives and the religious right successfully manufactured a new common sense, assaulted Enlightenment values and formed a new elite, the top layer of society, where this "greed is good" culture is created and legitimized. [10]

Donald Trump is a visible product of this culture, but clearly is not the choice of the elite ruling class to serve as their "front man" for President. Rather, his role seems to have been to polarize the electorate in such a way as to assure Hillary Clinton the election, just as Bernie Sanders played a role of mobilizing the left-neoliberal camp and then sheep-dogging it into Hillary's camp. As Bruce A. Dixon explained:

"Bernie Sanders is this election's Democratic sheepdog. The sheepdog is a card the Democratic party plays every presidential primary season when there's no White House Democrat running for re-election. The sheepdog is a presidential candidate running ostensibly to the left of the establishment Democrat to whom the billionaires will award the nomination. Sheepdogs are herders, and the sheepdog candidate is charged with herding activists and voters back into the Democratic fold who might otherwise drift leftward and outside of the Democratic party, either staying home or trying to build something outside the two-party box." [11]

Once you realize what the principle contradiction in the world is, and how the game of bourgeois "democracy" is played, the current election become as predictable and blatantly scripted as professional wrestling. As Victor Wallace explained:

"An extraordinary feature of the U.S. electoral process is that the two dominant parties collude to dictate – via their own bipartisan "commission" – who is allowed to participate in the officially recognized presidential debates. Needless to say, the two parties set impossible barriers to the participation of any candidates other than their own . Most potential voters are thereby prevented from acquainting themselves with alternatives to the dominant consensus.

"This practice has taken on glaring proportions in the 2016 campaign, which has been marked by justified public distrust of both the dominant-party tickets. Preventing election-theft would initially require breaking up the bipartisan stranglehold over who can access the tens of millions of voters.

"Another distinctive U.S. trait is the absence of any constitutional guarantee of the right to vote. Instead, a multiplicity of state laws govern voter-eligibility, as well as ballot-access. A few states set ballot-access requirements so high as to effectively disqualify their residents from supporting otherwise viable national candidacies. As for voter-eligibility, it is deliberately narrowed through the time-honored practice of using "states' rights" to impose racist agendas. Most states deny voting rights to ex-convicts, a practice that currently disenfranchises some 6 million citizens, disproportionately from communities of color. More recently, targeting the same constituencies, many states have passed onerous and unnecessary voter-ID laws.

"The role of money in filtering out viable candidacies is well known. It was reinforced by the Supreme Court's Citizens United decision of 2010, which opened the gate to unlimited corporate contributions.

"The priorities of corporate media point in a similar direction. Even apart from their taste for campaign-advertising, their orientation toward celebrity and sensationalism prompts them to give far more air-time to well known figures – the more outrageous, the better – than to even the most viable candidates who present serious alternatives. Trump's candidacy was thus "made" by the media, even as they kept the Sanders challenge to Clinton as deep in the shadows as possible ." [12]

Moreover, the media, which in the U.S. is 90% owned by just six mega-corporations, [13] cooperates closely with the dominant establishment of the two parties in framing the questions that are posed in the debates. And they explicitly maintain the fiction that the "commission" running the debates is "non-partisan" when in fact it is bipartisan. [14]

"Turning finally to the voting process itself, the longest-running scandal is the holding of elections on a workday. In recent years, the resulting inconvenience has been partially offset by the institution of early voting, which however has the disadvantage of facilitating premature choices and of being subject to varied and volatile rules set by state legislatures.

"The actual casting of votes on Election Day is further subject to a number of possible abuses. These include: 1) insufficient polling places in poor neighborhoods, sometimes resulting in waiting periods so long that individuals no longer have the time to vote; 2) the sometimes aggressive challenging of voters' eligibility by interested parties; 3) the use of provisional ballots which may easily end up not being counted; and 4), perhaps most significantly, the increasingly complete reliance on computerized voting, which allows for manipulation of the results (via "proprietary" programs) in a manner that cannot be detected. (The probability of such manipulation – based on discrepancies between exit-polls and official tallies – was documented by Marc Crispin Miller in his book on the 2004 election.

"The corporate media add a final abuse in their rush – in presidential races – to announce results in some states before the voting process has been completed throughout the country." [15]

Despite multiple releases of hacked e-mails by WikiLeaks revealing the whole process in detail, it seems to have little effect on the masses or on the game. The most recent batch come from Obama's personal e-mail account and reveal that the Bush administration contacted the future president multiple times before the election in 2008, secretly organizing the transition of power. In one e-mail President Bush states:

" We are now at the point of deciding how to staff economic policy during the transition, who should be the point of contact with Treasury and how to blend the transition and campaign economic policy talent.

Normally these decisions could be made after the election, and ideally after the selection of a National Economic Advisor, but, of course, these are not normal times. " [16]

Hillary Clinton's response has been to claim that the WikiLeaks' exposures come from the "highest levels of the Kremlin, and they are designed to influence our election," [17] and to accuse Trump of being Putin's puppet. Not exactly a denial of the accuracy of the content of the e-mails, nor does she present proof of Russia's involvement. And even if true, is this any different than the well-documented cases of Israel's long-standing involvement in spying on the U.S. and acting to influence U.S. elections or the recent allegations of U.S. interference in Israel's election, [18] or for that matter U.S. interference with elections and forced regime changes in countries all over the world. Julian Assange, the founder of WikiLeaks, has recently released a video on YouTube , asserting that his sources are DNC whistleblowers not Russians. [19]

The strategy of picking the "lesser evil" is a losing strategy. Is it a coincidence that all the corporate CEO's and most of the "left-wing" neoliberals agree on Trump being the "lesser evil?" In reality, Trump is less hawkish than Hillary. At least he doesn't seem to have any ambition to lock horns with Russia over Syria. Indeed, the WikiLeaks' exposures show Trump to be Hillary's puppet, not Putin's. This was alleged by Jeb Bush, back during the Republican primaries: Jeb stated that Trump previously was one of Clinton's largest supporters, not only by verbally expressing that he hoped she won the election, but financially contributing to her campaign. Bush explained that it seems "too good to be true" that Trump suddenly doesn't support Hillary and has a plan "to make America great again." He believes it is much more likely that he is part of the Hillary campaign and is doing "his part" to ensure his friend elected in November. [20] Nonetheless, the Bush family have, since Jeb's defeat, made known their preference for Hillary as have many of the Republican Party establishment. The illusion of "democracy" is wearing thin:

Former president Jimmy Carter said Tuesday on the nationally syndicated radio show the Thom Hartmann Program that the United States is now an "oligarchy" in which "unlimited political bribery" has created "a complete subversion of our political system as a payoff to major contributors." Both Democrats and Republicans, Carter said, "look upon this unlimited money as a great benefit to themselves."

Carter was responding to a question from Hartmann about recent Supreme Court decisions on campaign financing like Citizens United .

Transcript:

HARTMANN: Our Supreme Court has now said, "unlimited money in politics." It seems like a violation of principles of democracy. Your thoughts on that?

CARTER: It violates the essence of what made America a great country in its political system. Now it's just an oligarchy, with unlimited political bribery being the essence of getting the nominations for president or to elect the president. And the same thing applies to governors and U.S. senators and congress members. So now we've just seen a complete subversion of our political system as a payoff to major contributors, who want and expect and sometimes get favors for themselves after the election's over. The incumbents, Democrats and Republicans, look upon this unlimited money as a great benefit to themselves. Somebody's who's already in Congress has a lot more to sell to an avid contributor than somebody who's just a challenger . [21]

Not only is the illusion of democracy wearing thin, but so is the effectiveness of anti-communist brainwashing:

More than one in five U.S. millennials would be open to backing a communist candidate, and a third believe George W. Bush killed more people than Joseph Stalin, according to a new poll released Monday.

The poll , commissioned by the Victims of Communism Memorial Foundation and carried out by YouGov, surveyed Americans of all ages about their attitudes towards communism, socialism, and the American economic system in general.

Overall, the poll found, Americans remain broadly hostile to socialism and communism, even though 67 percent of the populace believes rich people don't pay "their fair share" and 52 percent believe America's economic system works against them. [22]

... ... ...

Notes

[Aug 30, 2017] The President of Belgian Magistrates - Neoliberalism is a form of Fascism by Manuela Cadelli

Highly recommended!
Notable quotes:
"... By Manuela Cadelli, President of the Magistrates' Union of Belgium ..."
"... Every totalitarianism starts as distortion of language, as in the novel by George Orwell. Neoliberalism has its Newspeak and strategies of communication that enable it to deform reality. In this spirit, every budgetary cut is represented as an instance of modernization of the sectors concerned. If some of the most deprived are no longer reimbursed for medical expenses and so stop visiting the dentist, this is modernization of social security in action! ..."
"... translated from French by Wayne Hall ..."
Aug 30, 2017 | www.defenddemocracy.press

By Manuela Cadelli, President of the Magistrates' Union of Belgium

The time for rhetorical reservations is over. Things have to be called by their name to make it possible for a co-ordinated democratic reaction to be initiated, above all in the public services.

Liberalism was a doctrine derived from the philosophy of Enlightenment, at once political and economic, which aimed at imposing on the state the necessary distance for ensuring respect for liberties and the coming of democratic emancipation. It was the motor for the arrival, and the continuing progress, of Western democracies.

Neoliberalism is a form of economism in our day that strikes at every moment at every sector of our community. It is a form of extremism.

Fascism may be defined as the subordination of every part of the State to a totalitarian and nihilistic ideology.

I argue that neoliberalism is a species of fascism because the economy has brought under subjection not only the government of democratic countries but also every aspect of our thought.

The state is now at the disposal of the economy and of finance, which treat it as a subordinate and lord over it to an extent that puts the common good in jeopardy.

The austerity that is demanded by the financial milieu has become a supreme value, replacing politics. Saving money precludes pursuing any other public objective. It is reaching the point where claims are being made that the principle of budgetary orthodoxy should be included in state constitutions. A mockery is being made of the notion of public service.

The nihilism that results from this makes possible the dismissal of universalism and the most evident humanistic values: solidarity, fraternity, integration and respect for all and for differences.

There is no place any more even for classical economic theory: work was formerly an element in demand, and to that extent there was respect for workers; international finance has made of it a mere adjustment variable.

Every totalitarianism starts as distortion of language, as in the novel by George Orwell. Neoliberalism has its Newspeak and strategies of communication that enable it to deform reality. In this spirit, every budgetary cut is represented as an instance of modernization of the sectors concerned. If some of the most deprived are no longer reimbursed for medical expenses and so stop visiting the dentist, this is modernization of social security in action!

Read also: The only real way to stop atrocities like the Manchester attack is to end the wars which allow extremism to grow

Abstraction predominates in public discussion so as to occlude the implications for human beings.

Thus, in relation to migrants, it is imperative that the need for hosting them does not lead to public appeals that our finances could not accommodate. Is it In the same way that other individuals qualify for assistance out of considerations of national solidarity?

The cult of evaluation

Social Darwinism predominates, assigning the most stringent performance requirements to everyone and everything: to be weak is to fail. The foundations of our culture are overturned: every humanist premise is disqualified or demonetized because neoliberalism has the monopoly of rationality and realism. Margaret Thatcher said it in 1985: "There is no alternative." Everything else is utopianism, unreason and regression. The virtue of debate and conflicting perspectives are discredited because history is ruled by necessity.

This subculture harbours an existential threat of its own: shortcomings of performance condemn one to disappearance while at the same time everyone is charged with inefficiency and obliged to justify everything. Trust is broken. Evaluation reigns, and with it the bureaucracy which imposes definition and research of a plethora of targets, and indicators with which one must comply. Creativity and the critical spirit are stifled by management. And everyone is beating his breast about the wastage and inertia of which he is guilty.

The neglect of justice

The neoliberal ideology generates a normativity that competes with the laws of parliament. The democratic power of law is compromised. Given that they represent a concrete embodiment of liberty and emancipation, and given the potential to prevent abuse that they impose, laws and procedures have begun to look like obstacles.

Read also: EU lies on Cyprus, Ireland, Portugal and Greece

The power of the judiciary, which has the ability to oppose the will of the ruling circles, must also be checkmated. The Belgian judicial system is in any case underfunded. In 2015 it came last in a European ranking that included all states located between the Atlantic and the Urals. In two years the government has managed to take away the independence given to it under the Constitution so that it can play the counterbalancing role citizens expect of it. The aim of this undertaking is clearly that there should no longer be justice in Belgium.

A caste above the Many

But the dominant class doesn't prescribe for itself the same medicine it wants to see ordinary citizens taking: well-ordered austerity begins with others. The economist Thomas Piketty has perfectly described this in his study of inequality and capitalism in the twenty-first century (French edition, Seuil, 2013).

In spite of the crisis of 2008 and the hand-wringing that followed, nothing was done to police the financial community and submit them to the requirements of the common good. Who paid? Ordinary people, you and me.

And while the Belgian State consented to 7 billion-euro ten-year tax breaks for multinationals, ordinary litigants have seen surcharges imposed on access to justice (increased court fees, 21% taxation on legal fees). From now on, to obtain redress the victims of injustice are going to have to be rich.

All this in a state where the number of public representatives breaks all international records. In this particular area, no evaluation and no costs studies are reporting profit. One example: thirty years after the introduction of the federal system, the provincial institutions survive. Nobody can say what purpose they serve. Streamlining and the managerial ideology have conveniently stopped at the gates of the political world.

The security ideal

Read also: DEMOCRATIC MENTAL HEALTH SOLIDARITY NETWORK

Terrorism, this other nihilism that exposes our weakness in affirming our values, is likely to aggravate the process by soon making it possible for all violations of our liberties, all violations of our rights, to circumvent the powerless qualified judges, further reducing social protection for the poor, who will be sacrificed to "the security ideal".

Salvation in commitment

These developments certainly threaten the foundations of our democracy, but do they condemn us to discouragement and despair?

Certainly not. 500 years ago, at the height of the defeats that brought down most Italian states with the imposition of foreign occupation for more than three centuries, Niccolo Machiavelli urged virtuous men to defy fate and stand up against the adversity of the times, to prefer action and daring to caution. The more tragic the situation, the more it necessitates action and the refusal to "give up" (The Prince, Chapters XXV and XXVI).

This is a teaching that is clearly required today. The determination of citizens attached to the radical of democratic values is an invaluable resource which has not yet revealed, at least in Belgium, its driving potential and power to change what is presented as inevitable. Through social networking and the power of the written word, everyone can now become involved, particularly when it comes to public services, universities, the student world, the judiciary and the Bar, in bringing the common good and social justice into the heart of public debate and the administration of the state and the community.

Neoliberalism is a species of fascism. It must be fought and humanism fully restored.

Published in the Belgian daily Le Soir, 3.3.2016

translated from French by Wayne Hall
Le néolibéralisme est un fascisme, par Manuela Cadelli

[Jul 04, 2017] Summers as a defender of Flat Earth theory

Highly recommended!
Apr 12, 2017 | economistsview.typepad.com

libezkova said in reply to T... April 12, 2017 at 06:05 AM

"Yes, adding more epicycles will do the trick."

http://personal.lse.ac.uk/reisr/papers/17-wrong.pdf

This guy is funny (and actually rather clueless, Summers is much better ) defender of "Flat Earth" theory:

== quote ==

A related criticism of macroeconomics is that it ignores financial factors. Macroeconomists supposedly failed to anticipate the crisis because they were enamored by models where financial markets and institutions were absent, as all financing was assumed to be efficient (De Grawe, 2009, Skidelsky, 2009). The field would be in denial if it continued to ignore these macro-financial links.

One area where macroeconomists have perhaps more of an influence is in monetary policy. Central banks hire more PhD economists than any other policy institution, and in the United States, the current and past chair of the Federal Reserve are distinguished academic macroeconomists, as have been several members of the FOMC over the years. In any given week, there are at least one conference and dozens of seminars hosted at central banks all over the world where the latest academic research is discussed. The speeches of central bank governors refer to academic papers in macroeconomics more than those by any other policymaker.

... ... ...

A separate criticism of macroeconomic policy advice accuses it of being politically biased. Since the early days of the field, with Keynes and the Great Depression, macroeconomics was associated with aggressive and controversial policies and with researchers that wore other hats as public intellectuals. Even more recently, during the rational expectations microfoundations revolution of the 1970s, early papers had radical policy recommendations, like the result that all systematic aggregate-demand policy is ineffective, and some leading researchers had strong political views. Romer (2016) criticizes modern macroeconomics for raising questions about what should be obvious truths, like the effect of monetary policy on output. He lays blame on the influence that Edward Prescott, Robert Lucas and Thomas Sargent had on field. Krugman (2009) in turn, claims the problem of macroeconomics is ideology, and in particular points to the fierce battles between different types of macroeconomists in the 1970s and 1980s, described by Hall (1976) in terms of saltwater versus freshwater camps.

...Macroeconomists, instead, are asked to routinely produce forecasts to guide fiscal and monetary policy, and are perhaps too eager to comply.

Reply Wednesday, April 12, 2017 at 08:26 AM

djb said...

"Is something really wrong with macroeconomics? - Ricardo Reis"

I appreciate that the author thinks the solution is to have young people look at economics with fresh eyes to bring up new approaches this is a quote when describing how they pick fresh young economists to go on a tour and present their findings:

"the choices are arguably not biased in the direction of a particular field, although they are most likely all in the mainstream tradition"

unfortunately the mainstream tradition is full of biase and restrictions about what is allow to be considered and what is not so if all you allow are people who are expanding on the "mainstream tradition" I think you are severely restricting yourself further a lot of good ideas from the past have been discarded, not allowed, ridiculed, not really analyzed or expanded upon.... presented or taught or represented by people who have never studied the ideas directly got them third hand or 5th hand , from people who misrepresent the ideas in the first place

want fresh new ideas? go back to the beginning of economics, understand over and over what the founds say , go read Adam Smith directly, read the generally theory by Keynes directly don't just assume the verion samuelson gave us of Keynes represents what he actually said, or Hansen or hicks, or what ever nonsense they are passing along today as "what Keynes said" reevaluation the who field over and over

And yea, study over and over the current teachings so you really understand it intuitively don't allow magical thinking to let you "pretend" you got it don't accept that its impossible to really understand it and "that's just what the equations show" understand the limitations, figure out when our fearless leaders and "great minds" and elder statesman of economics are "overplaying their hand" and concluding more than they can this is hard work and it takes dedication and don't assume that econometrics is the only real economics and that theory is "unprovable" or "always subjective" because without theory there is no econometrics, there is just a bunch of meaningless numbers

so yea we can use fresh young minds taking a new look at things but we will nowhere if all we allow is that "they are most likely all in the mainstream tradition"

[May 08, 2017] Karl Polanyi for President by Patrick Iber and Mike Konczal

Highly recommended!
Recommended !
Notable quotes:
"... Warren, who first made the argument, was speaking out against the idea that calling for higher taxes on the rich constitutes class warfare, saying: There is nobody in this country who got rich on his own-nobody. You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory -- and hire someone to protect against this -- because of the work the rest of us did. ..."
"... This is a fundamentally Polanyian point about the embeddedness of markets in society, and the always unnatural nature of income distribution. Polanyian arguments arise pretty naturally as rebuttals to certain libertarian notions of how economies should work, which may be one reason that certain Democrats sometimes sound like Polanyi. ..."
"... But Polanyi also helps explains some of the tensions within the Democratic Party. One of the divides within the Democratic primary between Bernie Sanders and Hillary Clinton has been between a social-democratic and a "progressive" but market-friendly vision of addressing social problems. Take, for example, health care. Sanders proposes a single-payer system in which the government pays and health care directly, and he frames it explicitly in the language of rights: "healthcare is a human right and should be guaranteed to all Americans regardless of wealth or income." ..."
"... Sanders here offers a straightforward defense of decommodification -- the idea that some things do not belong in the marketplace-that is at odds with the kind of politics that the leadership of the Democratic Party has offered more or less since Carter and the narrow policy "wonk" focus that tends to dominate coverage. ..."
"... Socialism is, essentially, the tendency inherent in an industrial civilization to transcend the self-regulating market by consciously subordinating it to a democratic society. It is the solution natural to industrial workers who see no reason why production should not be regulated directly and why markets should be more than a useful but subordinate trait in a free society. From the point of view of the community as a whole, socialism is merely the continuation of that endeavor to make society a distinctively human relationship of persons. ..."
"... Sanders's particular notion of a political revolution-in which people use democracy to change the rules governing our national political economy-is very Polanyian. Polanyi's socialism has a certain modern appeal when the more traditionally Marxist idea of having the state seize the means of production has been abandoned even by most who identify as socialists. Instead, Polanyi's relevance for today lies in his arguments that markets need to be subjected to democratic control, that human beings resist being transformed fully into commodities, and a fully realized market society is both impossible, undesirable, and at odds with genuine liberty and freedom. ..."
May 04, 2017 | www.dissentmagazine.org

Peter K: May 04, 2017 at 01:29 PM

https://www.dissentmagazine.org/online_articles/karl-polanyi-explainer-great-transformation-bernie-sanders

Karl Polanyi for President

Patrick Iber and Mike Konczal ▪ May 23, 2016

...

Is Bernie Sanders the only "Polanyian" Democrat?

Not at all. Democrats have taken up Polanyian arguments in response to many of the market-fundamentalist notions that the Tea Party has helped to circulate in recent years. The most notable example might be President Obama and Elizabeth Warren's "you didn't build that" faux-controversy from 2011 and 2012. Warren, who first made the argument, was speaking out against the idea that calling for higher taxes on the rich constitutes class warfare, saying:

There is nobody in this country who got rich on his own-nobody. You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory -- and hire someone to protect against this -- because of the work the rest of us did.

This is a fundamentally Polanyian point about the embeddedness of markets in society, and the always unnatural nature of income distribution. Polanyian arguments arise pretty naturally as rebuttals to certain libertarian notions of how economies should work, which may be one reason that certain Democrats sometimes sound like Polanyi.

But Polanyi also helps explains some of the tensions within the Democratic Party. One of the divides within the Democratic primary between Bernie Sanders and Hillary Clinton has been between a social-democratic and a "progressive" but market-friendly vision of addressing social problems. Take, for example, health care. Sanders proposes a single-payer system in which the government pays and health care directly, and he frames it explicitly in the language of rights: "healthcare is a human right and should be guaranteed to all Americans regardless of wealth or income."

Clinton, meanwhile, describes affordable health care as a right. Clinton also wants higher education to remain a market commodity, because she says that if the government paid, it would needlessly be giving a free ride to the children of the wealthy and the upper-middle class. Clinton's reasoning appeals to ideas of market efficiency, while Sanders, in stating that "Education should be a right, not a privilege," appeals to ideas of community beyond markets.

Sanders here offers a straightforward defense of decommodification -- the idea that some things do not belong in the marketplace-that is at odds with the kind of politics that the leadership of the Democratic Party has offered more or less since Carter and the narrow policy "wonk" focus that tends to dominate coverage.

Whether or not Sanders has read Polanyi-similar language about economic and social rights was also present in FDR's New Deal, which Sanders argues is the basis of his brand of socialism-Polanyi's particular definition of socialism sounds like one Sanders would share:

Socialism is, essentially, the tendency inherent in an industrial civilization to transcend the self-regulating market by consciously subordinating it to a democratic society. It is the solution natural to industrial workers who see no reason why production should not be regulated directly and why markets should be more than a useful but subordinate trait in a free society. From the point of view of the community as a whole, socialism is merely the continuation of that endeavor to make society a distinctively human relationship of persons.

Sanders's particular notion of a political revolution-in which people use democracy to change the rules governing our national political economy-is very Polanyian. Polanyi's socialism has a certain modern appeal when the more traditionally Marxist idea of having the state seize the means of production has been abandoned even by most who identify as socialists. Instead, Polanyi's relevance for today lies in his arguments that markets need to be subjected to democratic control, that human beings resist being transformed fully into commodities, and a fully realized market society is both impossible, undesirable, and at odds with genuine liberty and freedom.

Sanders's campaign has shown that a political platform favoring decommodification and a retreat from the extremes of society's subordination to markets has deep appeal. The future of the party does not belong to Bernie Sanders himself, but the Karl Polanyi Democrats are here to stay.

Peter K. -> Peter K.... Thursday, May 04, 2017 at 01:30 PM

I thought it was odd that DeLong linked to this:

http://crookedtimber.org/2017/05/01/the-thousand-day-reich-the-double-movement/

The Thousand Day Reich: The Double Movement

by HENRY on MAY 1, 2017

This is the second in a series of projected posts that try to look at the Trump administration and right wing populism through the lens of different books (the first – on civil society – is here). The last post was mostly riffing on Ernest Gellner. Today, it's another middle-European exile intellectual – Karl Polanyi.

...

[May 01, 2017] Trump: A Resisters Guide by Wesley Yang

Highly recommended!
Recommended !
Notable quotes:
"... [Neo]liberalism that needs monsters to destroy can never politically engage with its enemies. It can never understand those enemies as political actors, making calculations, taking advantage of opportunities, and responding to constraints. It can never see in those enemies anything other than a black hole of motivation, a cesspool where reason goes to die. ..."
"... Hence the refusal of empathy for Trump's supporters. Insofar as it marks a demand that we not abandon antiracist principle and practice for the sake of winning over a mythicized white working class, the refusal is unimpeachable. ..."
"... Such a [neo]liberalism becomes dependent on the very thing it opposes, with a tepid mix of neoliberal markets and multicultural morals getting much-needed spice from a terrifying right. Hillary Clinton ran hard on the threat of Trump, as if his presence were enough to authorize her presidency. ..."
"... Clinton waged this campaign on the belief that her neoliberalism of fear could defeat the ethnonationalism of the right. ..."
"... In the novel, what begins as a struggle against inherited privilege results in the consolidation of a new ruling class that derives its legitimacy from superior merit. This class becomes, within a few generations, a hereditary aristocracy in its own right. Sequestered within elite institutions, people of high intelligence marry among themselves, passing along their high social position and superior genes to their progeny. Terminal inequality is the result. The gradual shift from inheritance to merit, Young writes, made "nonsense of all their loose talk of the equality of man": ..."
"... Losing every young person of promise to the meritocracy had deprived the working class of its prospective leaders, rendering it unable to coordinate a movement to manifest its political will. ..."
"... A policy of benign neglect of immigration laws invites into our country a casualized workforce without any leverage, one that competes with the native-born and destroys whatever leverage the latter have to negotiate better terms for themselves. The policy is a subsidy to American agribusiness, meatpacking plants, restaurants, bars, and construction companies, and to American families who would not otherwise be able to afford the outsourcing of childcare and domestic labor that the postfeminist, dual-income family requires. At the same time, a policy of free trade pits native-born workers against foreign ones content to earn pennies on the dollar of their American counterparts. ..."
"... Four decades of neoliberal globalization have cleaved our country into two hostile classes, and the line cuts across the race divide. On one side, college students credential themselves for meritocratic success. On the other, the white working class increasingly comes to resemble the black underclass in indices of social disorganization. On one side of the divide, much energy is expended on the eradication of subtler inequalities; on the other side, an equality of immiseration increasingly obtains. ..."
Jan 21, 2017 | harpers.org
[Neo]liberalism that needs monsters to destroy can never politically engage with its enemies. It can never understand those enemies as political actors, making calculations, taking advantage of opportunities, and responding to constraints. It can never see in those enemies anything other than a black hole of motivation, a cesspool where reason goes to die.

Hence the refusal of empathy for Trump's supporters. Insofar as it marks a demand that we not abandon antiracist principle and practice for the sake of winning over a mythicized white working class, the refusal is unimpeachable. But like the know-nothing disavowal of knowledge after 9/11, when explanations of terrorism were construed as exonerations of terrorism, the refusal of empathy since 11/9 is a will to ignorance. Far simpler to imagine Trump voters as possessed by a kind of demonic intelligence, or anti-intelligence, transcending all the rules of the established order. Rather than treat Trump as the outgrowth of normal politics and traditional institutions - it is the Electoral College, after all, not some beating heart of darkness, that sent Trump to the White House - there is a disabling insistence that he and his forces are like no political formation we've seen. By encouraging us to see only novelty in his monstrosity, analyses of this kind may prove as crippling as the neocons' assessment of Saddam's regime. That, too, was held to be like no tyranny we'd seen, a despotism where the ordinary rules of politics didn't apply and knowledge of the subject was therefore useless.

Such a [neo]liberalism becomes dependent on the very thing it opposes, with a tepid mix of neoliberal markets and multicultural morals getting much-needed spice from a terrifying right. Hillary Clinton ran hard on the threat of Trump, as if his presence were enough to authorize her presidency.

Where Sanders promised to change the conversation, to make the battlefield a contest between a multicultural neoliberalism and a multiracial social democracy, Clinton sought to keep the battlefield as it has been for the past quarter-century. In this single respect, she can claim a substantial victory. It's no accident that one of the most spectacular confrontations since the election pitted the actors of Hamilton against the tweets of Trump. These fixed, frozen positions - high on rhetoric, low on action - offer an almost perfect tableau of our ongoing gridlock of recrimination.

Clinton waged this campaign on the belief that her neoliberalism of fear could defeat the ethnonationalism of the right. Let us not make the same mistake twice. Let us not be addicted to "the drug of danger," as Athena says in the Oresteia, to "the dream of the enemy that has to be crushed, like a herb, before [we] can smell freedom."

The term "meritocracy" became shorthand for a desirable societal ideal soon after it was coined by the British socialist Sir Michael Young. But Young had originally used it to describe a dystopian future. His 1958 satirical novel, The Rise of the Meritocracy, imagines the creation and growth of a national system of intelligence testing, which identifies talented young people from every stratum of society in order to install them in special schools, where they are groomed to make the best use possible of their innate advantages.

In the novel, what begins as a struggle against inherited privilege results in the consolidation of a new ruling class that derives its legitimacy from superior merit. This class becomes, within a few generations, a hereditary aristocracy in its own right. Sequestered within elite institutions, people of high intelligence marry among themselves, passing along their high social position and superior genes to their progeny. Terminal inequality is the result. The gradual shift from inheritance to merit, Young writes, made "nonsense of all their loose talk of the equality of man":

Men, after all, are notable not for the equality, but for the inequality, of their endowment. Once all the geniuses are amongst the elite, and all the morons are amongst the workers, what meaning can equality have? What ideal can be upheld except the principle of equal status for equal intelligence? What is the purpose of abolishing inequalities in nurture except to reveal and make more pronounced the inescapable inequalities of Nature?

I thought about this book often in the years before the crack-up of November 2016. In early 2015, the Harvard sociologist Robert Putnam published a book that seemed to tell as history the same story that Young had written as prophecy. Our Kids: The American Dream in Crisis opens with an evocation of the small town of Port Clinton, Ohio, where Putnam grew up in the 1950s - a "passable embodiment of the American Dream, a place that offered decent opportunity for all the kids in town, whatever their background." Port Clinton was, as Putnam is quick to concede, a nearly all-white town in a pre-feminist and pre-civil-rights America, and it was marked by the unequal distribution of power that spurred those movements into being. Yet it was also a place of high employment, strong unions, widespread homeownership, relative class equality, and generally intact two-parent families. Everyone knew one another by their first names and almost everyone was headed toward a better future; nearly three quarters of all the classmates Putnam surveyed fifty years later had surpassed their parents in both educational attainment and wealth.

When he revisited it in 2013, the town had become a kind of American nightmare. In the 1970s, the industrial base entered a terminal decline, and the town's economy declined with it. Downtown shops closed. Crime, delinquency, and drug use skyrocketed. In 1993, the factory that had offered high-wage blue-collar employment finally shuttered for good. By 2010, the rate of births to unwed mothers had risen to 40 percent. Two years later, the average worker in the county "was paid roughly 16 percent less in inflation-adjusted dollars than his or her grandfather in the early 1970s."

Young's novel ends with an editorial note informing readers that the fictional author of the text had been killed in a riot that was part of a violent populist insurrection against the meritocracy, an insurrection that the author had been insisting would pose no lasting threat to the social order. Losing every young person of promise to the meritocracy had deprived the working class of its prospective leaders, rendering it unable to coordinate a movement to manifest its political will. "Without intelligence in their heads," he wrote, "the lower classes are never more menacing than a rabble."

We are in the midst of a global insurrection against ruling elites. In the wake of the most destructive of the blows recently delivered, a furious debate arose over whether those who supported Donald Trump deserve empathy or scorn. The answer, of course, is that they deserve scorn for resorting to so depraved and false a solution to their predicament - and empathy for the predicament itself. (And not just because advances in technology are likely to make their predicament far more widely shared.) What is owed to them is not the lachrymose pity reserved for victims (though they have suffered greatly) but rather a practical appreciation of how their antagonism to the policies that determined the course of this campaign - mass immigration and free trade - was a fully political antagonism that was disregarded for decades, to our collective detriment.

A policy of benign neglect of immigration laws invites into our country a casualized workforce without any leverage, one that competes with the native-born and destroys whatever leverage the latter have to negotiate better terms for themselves. The policy is a subsidy to American agribusiness, meatpacking plants, restaurants, bars, and construction companies, and to American families who would not otherwise be able to afford the outsourcing of childcare and domestic labor that the postfeminist, dual-income family requires. At the same time, a policy of free trade pits native-born workers against foreign ones content to earn pennies on the dollar of their American counterparts.

In lieu of the social-democratic provision of childcare and other services of domestic support, we have built a privatized, ad hoc system of subsidies based on loose border enforcement - in effect, the nation cutting a deal with itself at the expense of the life chances of its native-born working class. In lieu of an industrial policy that would preserve intact the economic foundation of their lives, we rapidly dismantled our industrial base in pursuit of maximal aggregate economic growth, with no concern for the uneven distribution of the harms and the benefits. Some were enriched hugely by these policies: the college-educated bankers, accountants, consultants, technologists, lawyers, economists, and corporate executives who built a supply chain that reached to the countries where we shipped the jobs. Eventually, of course, many of these workers learned that both political parties regarded them as fungible factors of production, readily discarded in favor of a machine or a migrant willing to bunk eight to a room.

Four decades of neoliberal globalization have cleaved our country into two hostile classes, and the line cuts across the race divide. On one side, college students credential themselves for meritocratic success. On the other, the white working class increasingly comes to resemble the black underclass in indices of social disorganization. On one side of the divide, much energy is expended on the eradication of subtler inequalities; on the other side, an equality of immiseration increasingly obtains.

Even before the ruling elite sent the proletariat off to fight a misbegotten war, even before it wrecked the world economy through heedless lending, even before its politicians rescued those responsible for the crisis while allowing working-class victims of all colors to sink, the working class knew that it had been sacrificed to the interests of those sitting atop the meritocratic ladder. The hostility was never just about differing patterns in taste and consumption. It was also about one class prospering off the suffering of another. We learned this year that political interests that go neglected for decades invariably summon up demagogues who exploit them for their own gain. The demagogues will go on to betray their supporters and do enormous harm to others.

If we are to arrest the global descent into barbarism, we will have to understand the political antagonism at the heart of the meritocratic project and seek a new kind of politics. If we choose to neglect the valid interests of the working class, Trump will prove in retrospect to have been a pale harbinger of even darker nightmares to come.

[Jan 23, 2017] One way to sum up neoliberalism is to say that everything-everything-is to be made over in the image of the market, including the state, civil society, and of course human beings

Highly recommended!
Notable quotes:
"... People can perceive that her ideology is founded on a conception of human beings striving relentlessly to become human capital (as her opening campaign commercial so overtly depicted), which means that those who fail to come within the purview of neoliberalism should be rigorously ostracized, punished, and excluded. ..."
"... And this explains why the 1990s saw the simultaneous and absolutely parallel rise, under the Clintons, of both neoliberal globalization and various regimes of neoliberal disciplining, such as the shaming and exclusion of former welfare recipients (every able-bodied person should be able to find work, therefore under TANF welfare was converted to a performance management system designed to enroll everyone in the workforce, even if it meant below-subsistence wages or the loss of parental responsibilities, all of it couched in the jargon of marketplace incentives)." ..."
"... The project of neoliberalism -- i.e., the redefinition of the state, the institutions of society, and the self-has come so far along that neoliberalism is almost beyond the need of individual entities to make or break its case. Its penetration has gone too deep, and none of the democratic figureheads that come forward can fundamentally question its efficacy. ..."
Jan 23, 2017 | economistsview.typepad.com
likbez, 2017 at 04:55 PM
You are wrong. Your definition of neoliberalism is formally right and we can argue along those lines that Hillary is a neoliberal too (Her track record as a senator suggests exactly that), it is way too narrow.

"One way to sum up neoliberalism is to say that everything-everything-is to be made over in the image of the market, including the state, civil society, and of course human beings." (see below)

"Another way to say it is that the state has become the market, the market has become the state, and therefore both have ceased to exist in the form we have classically understood them."

"In the current election campaign, Hillary Clinton has been the most perfect embodiment of neoliberalism among all the candidates, she is almost its all-time ideal avatar, and I believe this explains, even if not articulated this way, the widespread discomfort among the populace toward her ascendancy. People can perceive that her ideology is founded on a conception of human beings striving relentlessly to become human capital (as her opening campaign commercial so overtly depicted), which means that those who fail to come within the purview of neoliberalism should be rigorously ostracized, punished, and excluded.

This is the dark side of neoliberalism's ideological arm (a multiculturalism founded on human beings as capital), which is why this project has become increasingly associated with suppression of free speech and intolerance of those who refuse to go along with the kind of identity politics neoliberalism promotes.

And this explains why the 1990s saw the simultaneous and absolutely parallel rise, under the Clintons, of both neoliberal globalization and various regimes of neoliberal disciplining, such as the shaming and exclusion of former welfare recipients (every able-bodied person should be able to find work, therefore under TANF welfare was converted to a performance management system designed to enroll everyone in the workforce, even if it meant below-subsistence wages or the loss of parental responsibilities, all of it couched in the jargon of marketplace incentives)."

In this sense Hillary Clinton is 100% dyed-in-the-wool neoliberal and neocon ("neoliberal with the gun"). She promotes so called "neoliberal rationality" a perverted "market-based" rationality typical for neoliberalism:

See

http://economistsview.typepad.com/economistsview/2017/01/links-for-01-23-17.html#comment-6a00d83451b33869e201bb09706856970d

When Hillary Clinton frequently retorts-in response to demands for reregulation of finance, for instance -- that we have to abide by "the rule of law," this reflects a particular understanding of the law, the law as embodying the sense of the market, the law after it has undergone a revolution of reinterpretation in purely economic terms.

In this revolution of the law persons have no status compared to corporations, nation-states are on their way out, and everything in turn dissolves before the abstraction called the market.

One way to sum up neoliberalism is to say that everything-everything-is to be made over in the image of the market, including the state, civil society, and of course human beings. Democracy becomes reinterpreted as the market, and politics succumbs to neoliberal economic theory, so we are speaking of the end of democratic politics as we have known it for two and a half centuries.

As the market becomes an abstraction, so does democracy, but the real playing field is somewhere else, in the realm of actual economic exchange-which is not, however, the market. We may say that all exchange takes place on the neoliberal surface.

Neoliberalism is often described -- and this creates a lot of confusion -- as "market fundamentalism," and while this may be true for neoliberal's self-promotion and self-presentation, i.e., the market as the ultimate and only myth, as were the gods of the past, I would argue that in neoliberalism there is no such thing as the market as we have understood it from previous ideologies.

The neoliberal state-actually, to utter the word state seems insufficient here, I would claim that a new entity is being created, which is not the state as we have known it, but an existence that incorporates potentially all the states in the world and is something that exceeds their sum-is all-powerful, it seeks to leave no space for individual self-conception in the way that classical liberalism, and even communism and fascism to some degree, were willing to allow.

There are competing understandings of neoliberal globalization, when it comes to the question of whether the state is strong or weak compared to the primary agent of globalization, i.e., the corporation, but I am taking this logic further, I am suggesting that the issue is not how strong the state is in the service of neoliberalism, but whether there is anything left over beyond the new definition of the state. Another way to say it is that the state has become the market, the market has become the state, and therefore both have ceased to exist in the form we have classically understood them.

Of course the word hasn't gotten around to the people yet, hence all the confusion about whether Hillary Clinton is more neoliberal than Barack Obama, or whether Donald Trump will be less neoliberal than Hillary Clinton.

The project of neoliberalism -- i.e., the redefinition of the state, the institutions of society, and the self-has come so far along that neoliberalism is almost beyond the need of individual entities to make or break its case. Its penetration has gone too deep, and none of the democratic figureheads that come forward can fundamentally question its efficacy.

[Oct 28, 2016] Americas Vichy Regime

Notable quotes:
"... A few comparisons are in order. In their fine review of French history since 1870, Alice L. Conklin, Sarah Fishman, and Robert Zaretsky point out that French leaders at Vichy had several bargaining chips they could use against Hitler, but decided not to play them "because they had other priorities on their mind, including a 'National Revolution' to remake France, politically, socially, and economically." ..."
"... Petain was accompanied by legions of experts, administrators, and technocrats, who shared Petain's disdain for ordinary people and democratic processes, and by strident French fascists who even welcomed their country's defeat. Indeed, although fascists hated democracy, they also believed that Petain's measures did not go far enough to remake the country's institutions. The main thing this menagerie of "minorities" -- to use Stanley Hoffmann's phrase -- had in common was the loathing they shared of their own country. ..."
"... France was saved from its Vichy insanities by a country that was proclaimed, in the words of Abraham Lincoln, as the "last best hope on earth" -- that is, by the United States. The question is: Who will save America from its own Vichy regime? ..."
Apr 21, 2011 | www.americanthinker.com
For the French, revisiting the time period when the Vichy Regime ruled what was left of the country after its humiliating defeat by the Germans in 1940 involves trauma. But the lessons imparted by those dark years of Nazi occupation transcend historical era and nationality, touching upon equivalent circumstances in the United States for the past few years. Equivalent, not identical: clearly, phalanxes of Nazi troops aren't goose-stepping down Pennsylvania Avenue....

A few comparisons are in order. In their fine review of French history since 1870, Alice L. Conklin, Sarah Fishman, and Robert Zaretsky point out that French leaders at Vichy had several bargaining chips they could use against Hitler, but decided not to play them "because they had other priorities on their mind, including a 'National Revolution' to remake France, politically, socially, and economically."

France's new leader, the 84-year-old Marshall Petain, was a deeply reactionary veteran who loathed the Third Republic crushed by the Germans and vowed to take advantage of France's crisis to obliterate the past and install a centralized, authoritarian government. His rejection of liberalism, egalitarianism, and democracy prompted measures designed to return France to its pre-revolutionary roots: cities, industrial plants, and factories were rejected in favor of a return to nature, to villages and small shops. On top of this heap of nouveau-peasantry loomed the Marshall himself, whose grandfatherly physiognomy was plastered on buildings in public arenas all over the country to remind French subjects of who was in charge.

Petain was accompanied by legions of experts, administrators, and technocrats, who shared Petain's disdain for ordinary people and democratic processes, and by strident French fascists who even welcomed their country's defeat. Indeed, although fascists hated democracy, they also believed that Petain's measures did not go far enough to remake the country's institutions. The main thing this menagerie of "minorities" -- to use Stanley Hoffmann's phrase -- had in common was the loathing they shared of their own country.

... .. ..

Further, like his aged counterpart before him, President Obama took advantage of a crisis to "transform" American institutions instead of grappling with the country's main problems -- national debt, unemployment, recession, and burgeoning entitlement costs, to name a few. He made matters worse by augmenting entitlements, exploding federal deficits, exacerbating unemployment, and blaming others for the inevitable mess that ensued...

... ... ...

France was saved from its Vichy insanities by a country that was proclaimed, in the words of Abraham Lincoln, as the "last best hope on earth" -- that is, by the United States. The question is: Who will save America from its own Vichy regime?

Dr. Marvin Folkertsma is a professor of political science and Fellow for American Studies with The Center for Vision & Values at Grove City College. The author of several books, his latest release is a high-energy novel titled "The Thirteenth Commandment."

Continued

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Think Tanks Enablers

Strangely, CATO missed the AZ, IN, and MS budget crises

CATO was making much hay a few days ago about budget problems in California, New York, and New Jersey, which can be explained, respectively, by the Governor's veto of an Assembly-passed budget a few months ago, the decline in tax revenues from financial services firms and continuing loss of upstate industry, and underfunded pension obligations whose origins date back to Christie's cocaine-inspired budgets of the mid-1990s.

Strangely (via Dr. Black), they missed the crises in a few other states, most especially including the state governed by Republic hero Mitch Daniels:

Republican Gov. Mitch Daniels has warned residents that most of the state's services -- including its parks, the Bureau of Motor Vehicles and state-regulated casinos -- would be shuttered unless a budget is passed today.
Closing down the casinos? Now that is extreme.

Mitch Daniels, doing for my old home state what he did for the country.



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The Last but not Least Technology is dominated by two types of people: those who understand what they do not manage and those who manage what they do not understand ~Archibald Putt. Ph.D


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